阅文上半年归母净利同比增68.5% AI翻译作品走向海外

Core Insights - The online reading platform of the company added 200,000 new authors and 410,000 new novels in the first half of the year, with a total word count increase of approximately 20 billion [3] - The number of new signed works with revenue exceeding 1 million yuan increased by 63% year-on-year, with popular titles surpassing 100,000 subscriptions [3] - The average monthly paying user count (MPU) reached 9.2 million, a year-on-year growth of 4.5%, while the number of works with monthly ticket sales exceeding 10,000 and 1 million increased by 20% and 200% respectively [3] - The company's IP derivative business showed strong growth potential, with a GMV of 480 million yuan in the first half of the year, nearing last year's total [3][4] - The AI translation model significantly boosted the global reach of Chinese works, with revenue from AI-translated works on the overseas platform WebNovel increasing by 38% year-on-year, accounting for over 35% of total platform revenue [3] - As of June 30, 2025, WebNovel offered over 10,000 Chinese translated works and approximately 770,000 local original works, with AI-translated works making up 70% of the total Chinese translated works [3] Financial Performance - Online business revenue grew by 2.3% year-on-year to 1.99 billion yuan in the first half of 2025 [4] - The IP operation business demonstrated strong capabilities in premium film and animation sectors, with significant progress in new areas such as short dramas and IP derivatives [4] - The GMV of the IP derivative business reached 480 million yuan, indicating a leap in development compared to previous periods [4]