Core Viewpoint - Reader Publishing Media Co., Ltd. reported a decrease in revenue but an increase in net profit for the first half of 2025, indicating a successful strategic adjustment towards high-quality development [1] Financial Performance - The company achieved an operating income of 415 million yuan, a year-on-year decrease of 23.73% [1] - The net profit attributable to shareholders was 38.6047 million yuan, a year-on-year increase of 12.67% [1] Business Strategy - Reader Media is focusing on optimizing its business structure by divesting low-relevance operations, which has led to a temporary decline in revenue but improved overall profitability [1] - The company aims to deepen its publishing core and implement a high-quality publishing project, leveraging the "Reader" brand for diversified development [1] Publishing and Content Development - The book segment is advancing towards premium publishing, with a steady increase in total print numbers [2] - The core journal "Reader" achieved a circulation of 30.18 million copies, with a cumulative circulation exceeding 2.3 billion copies [2] Copyright Trade and International Cooperation - The company has made significant strides in copyright trade, enhancing cooperation with international publishing entities and signing agreements for copyright output [3] - Collaborations with publishers in the UAE and South Korea have been established to promote specific publications [3] New Media and Marketing - The company is enhancing its new media presence, with significant growth in user numbers and reading volumes across various platforms [4] - The "Reader" brand's value reached 57.685 billion yuan, reflecting a year-on-year increase of 12.3% [4] Cultural and Creative Products - Reader Media is exploring new paths for brand transformation through the development of diverse cultural and creative product lines [5] - The company has opened a "Reader Cultural Space" and established various branded locations to enhance its cultural footprint [5]

Core Viewpoint - The 2025 South China Book Fair, held from August 15 to 19, emphasizes internationalization and technological integration, creating a vibrant cultural carnival that attracts numerous citizens and readers [1] Group 1: Event Overview - The event takes place at the China Import and Export Fair Complex, featuring a main venue of approximately 40,000 square meters, with four major themed exhibition halls, 24 specialty pavilions, and four interactive functional areas [1] - The fair showcases over 500,000 types of publications and cultural creative products from nearly 1,500 domestic and international publishing institutions [1] Group 2: International Participation - The newly established "Reading the World" pavilion includes a significant presence from Vietnam as the guest country, along with pavilions representing Southeast Asian countries, European countries, and international brand publishers, featuring exhibitors from 23 countries and regions [1] Group 3: Cultural Integration - Books are presented not in isolation but are deeply integrated with various sectors such as intellectual property, cultural creativity, gaming, and art, highlighting a multi-faceted approach to cultural exchange [1] - The organizing committee aims for the fair to serve as a cultural bridge that empowers both domestic and international exchanges, allowing outstanding international publications to enrich Chinese readers while promoting Chinese cultural wisdom globally through copyright trade and joint publishing [1]

Core Insights - The publishing industry in the US, Germany, the UK, and France shows varied performance in 2024, with the US experiencing a revenue increase driven by strong performance in mass market, education, and digital publishing [1] - Germany's publishing revenue grew by 1.8% to €9.88 billion (approximately $10.4 billion), supported by a resurgence in reading among young people and growth in audiobooks [1][16] - The UK saw a slight revenue increase of 1% to £7.2 billion (approximately $9.1 billion), bolstered by strong exports and digital business [21] - France's publishing revenue declined by 1.5% to €2.902 billion (approximately $3.054 billion), attributed to the rapid growth of the second-hand book market and other factors [1][8] Group 1: Revenue Trends - US publishing revenue increased by 6.5% to $14.2 billion, primarily driven by mass market, education, and digital publishing [1] - Germany's total publishing revenue grew by 1.8% to €9.88 billion, with strong performances in fiction, children's, education, and non-fiction categories [17] - The UK publishing revenue rose by 1% to £7.2 billion, with export market revenue increasing by 3% to £4.5 billion [21] Group 2: Market Dynamics - In Germany, 57% of sold books were published over a year ago, indicating a preference for older titles amid a decline in new book releases [17] - France's new book releases decreased by 1.6% to 36,200 titles, as publishers aimed to manage market saturation and optimize inventory [10] - The UK saw a 5% increase in mass market book sales, driven by a rise in fantasy romance novels [21] Group 3: Digital Publishing Growth - The US mass market for e-books and digital audiobooks continued to grow, with digital audiobooks experiencing double-digit growth [4] - In Germany, e-book revenue saw slight growth, while audiobook revenue increased by 7.3% [4] - The UK reported a 17% increase in digital publishing revenue, with audiobook revenue surging by 31% [4][24] Group 4: Copyright Trade Changes - In France, the number of sold copyrights decreased by 2.6% to 14,300, reflecting challenges in international sales due to geopolitical factors [14] - Germany experienced a 2.2% increase in sold copyrights, with children's and fiction books being the primary categories [19] - The UK’s export market for publishing remains strong, with significant contributions from the US, Australia, and Germany [21] Group 5: Consumer Behavior - In Germany, the number of young readers aged 16-29 increased, with a notable rise in the 16-19 age group by 9.6% [18] - France's book sales volume decreased by 3.1% to 426 million copies, influenced by the growth of the second-hand book market and other factors [8] - The UK’s digital publishing revenue accounted for 48% of total revenue, indicating a shift in consumer preferences towards digital formats [24]