联众：聚焦女性用户价值，以内容驱动新娱乐

Core Insights - The company is enhancing its strategic focus on the female entertainment sector, aiming to improve the value experience for core female users through high-quality and innovative content [1][2] - Since launching its short video platform live streaming business in 2021, the company has established a robust operational system and gathered a large, distinctive user base primarily consisting of high-value female users aged 18 to 40 in new first-tier cities [1] - The company believes that understanding and serving its core users is crucial for future competition, leading to a deep customization of business and content tailored to the specific needs and preferences of female users [1][2] Business Matrix Development - The company plans to upgrade the entertainment live streaming experience by refining content categories, encouraging innovative interactive formats, and strengthening emotional connections among users, making the platform a key space for leisure and social interaction [1] - There will be increased investment in the entertainment live streaming and live e-commerce sectors to enhance user engagement and community belonging [1] - Customized product development will include light competitive gaming products that emphasize fun gameplay and strong community interaction, as well as female-oriented casual games designed to provide emotional comfort and a low-pressure entertainment experience [2] - The strategic focus is expected to allow the company to respond more accurately to user needs, enriching the entertainment experience and expanding new business growth opportunities while creating long-term sustainable value for shareholders [2]