Core Insights - Guomai Culture has established a cultural industry fund in collaboration with CICC Capital and Hengqin Guangdong-Macao Deep Cooperation Zone Industrial Investment Fund, with an investment amount of approximately 200 million yuan [1] - The publishing industry in China is undergoing a strategic transformation from a "paper-dominated medium" to a "full-media content ecosystem," driven by the digital technology revolution and cultural consumption upgrades [1] - The Chinese publishing market is projected to maintain a steady annual growth rate of 5.2%, with the market size expected to exceed 320 billion yuan in 2024 and potentially surpass 500 billion yuan by 2030 [1] Company Overview - Guomai Culture has embraced the internet and new media, creating a unique "publishing + internet" business model that focuses on publishing valuable and beautiful books while leveraging internet-driven content development [2] - In 2024, Guomai Culture reported a revenue of 582 million yuan, a year-on-year increase of 21.76%, and continued strong growth into Q1 2025 with a revenue of 124 million yuan, up 33.14% year-on-year [2] - The company has developed a matrix of over 143 internet products across platforms like WeChat, Weibo, Douyin, and Xiaohongshu, achieving a user base growth from 90.08 million at the end of 2023 to 99 million by the end of 2024, a 9.90% increase [3] Technological Advancements - Guomai Culture is actively investing in AI technology, having developed the "AI Proofreading King" product, which automates proofreading processes and enhances efficiency in the publishing industry [4] - The self-developed large language model "Pyramid" has been successfully registered with the Cyberspace Administration of China, marking it as the only large model developed and registered by a publishing company [4] New Business Ventures - In 2023, Guomai Culture entered the animation sector, with the animated film "The Stars of the Three Kingdoms 1" set to release in 2025, leveraging partnerships with leading media companies to enhance market penetration [5] - The company aims to establish a second growth curve through this venture, focusing on unique content and leveraging industry resources for long-term development [5] Strategic Goals - Guomai Culture's strategic plan for 2025 includes consolidating its publishing business, adding 500 new titles, and accelerating the deployment of new businesses like "AI Proofreading King" [6] - The company aims for a transformation towards industrialization and intelligence in publishing, utilizing AI to enhance processes across proofreading, translation, and marketing [6][7] - The long-term vision includes extending into film and IP derivatives, creating a comprehensive cultural ecosystem that balances social value and commercial efficiency [7]

Group 1: Financial Performance - In 2024, the company achieved operating revenue of 9.857 billion yuan, a year-on-year increase of 0.24% [1] - The net profit after deducting non-recurring gains and losses was 1.250 billion yuan, reflecting a year-on-year growth of 12.11% [1] - The company announced a cash dividend of 6 yuan per 10 shares, totaling approximately 614 million yuan, with a dividend payout ratio close to 60% [1] Group 2: Publishing and Education Services - The core publishing business generated revenue of 3.269 billion yuan, up 3.37% year-on-year [2] - The company secured a contract for the procurement of compulsory education textbooks in Henan Province for 2024-2027, ensuring stable income for three years [2] - The education services segment expanded rapidly, organizing nearly 4,000 research activities throughout the year [2] Group 3: Technological Advancements - The company increased its R&D investment by 48.33% in 2024, focusing on the "publishing + AI + education" strategy [3] - The establishment of the "Literature China" resource library and "Digital Book Version Museum" aims to diversify revenue streams from traditional publishing to digital products [3] - The company is leveraging AI applications in publishing processes, which may reshape content supply and dissemination methods [3]