Core Viewpoint - The article highlights the significant growth of Yuewen Group in the first half of 2025, driven by its strong IP reserves and successful expansion into various entertainment sectors, including short dramas and IP derivatives [1][2]. Financial Performance - In the first half of 2025, Yuewen achieved revenue of 3.19 billion yuan and a net profit of 850 million yuan, marking a year-on-year increase of 68.5% [1]. - Online business revenue grew by 2.3% to 1.99 billion yuan [2]. IP Development and Ecosystem - The company added 200,000 new authors and 410,000 new novels to its online reading platform, with a 45% increase in authors achieving over 10,000 subscriptions [2]. - The number of new signed works generating over 1 million yuan in revenue increased by 63% [2]. - The average monthly paying user count reached 9.2 million, reflecting a 4.5% year-on-year growth [2]. IP Commercialization - Yuewen's IP commercialization saw success across multiple formats, including popular adaptations of novels into long dramas and short dramas, with notable titles like "Jiu Chong Zi" and "Da Feng Da Geng Ren" [3]. - The short drama segment experienced explosive growth, with a significant increase in production and collaboration with industry writers [3]. - The IP derivative business generated a GMV of 480 million yuan, nearing the total for the previous year [3]. Strategic Investments and Collaborations - Yuewen is expanding its business model through investments, such as acquiring a 10% stake in the plush toy brand "Super Vitality Factory," aiming to collaborate on IP development [4]. - The company has accelerated the launch of new products under its IP derivative brand, Yuewen Goodies, partnering with nearly 10,000 online and offline distributors and collaborating with 230 brands [4]. - Yuewen aims to leverage its extensive IP reserves to drive industry growth and become a key player in the evolution of China's IP ecosystem [4].

Financial Data and Key Metrics Changes - In 2025, total revenue decreased to RMB3.2 billion from RMB4.2 billion in 2024 [21] - Online business revenues increased by 2.3% to RMB1.99 billion, driven by growth in self-owned platform products [21][22] - Net profit attributable to shareholders increased by 68.5% to RMB850 million, while non-IFRS net profit decreased to RMB508 million from RMB702 million in 2024 [28] Business Line Data and Key Metrics Changes - Revenue from self-owned platform products increased by 3.1% to RMB1.7 billion, while revenues from Tencent products decreased by 25.6% to RMB97 million [22] - Revenue from IT operations decreased by 46.4% to RMB1.2 billion, primarily due to a lack of new TV series or film releases [25][26] - The IT merchandise business achieved significant growth with GMV reaching RMB488 million in the first half, nearing last year's total of RMB500 million [13][26] Market Data and Key Metrics Changes - The number of newly signed works generating over RMB1 million in revenue increased by 63% year over year, and the number of newly signed writers with over 10,000 average subscribers per chapter rose by 45% [54] - The average monthly active users (MAUs) decreased to 141.3 million from 176 million in 2024, with a decline in several platform products [23] Company Strategy and Development Direction - The company aims to capitalize on the rapid growth of China's IP industry, focusing on premium IP, short dramas, and physical merchandise [5][6][19] - The strategy includes enhancing the online reading platform, expanding the IP library, and leveraging AI technologies across business lines [17][18][19] Management's Comments on Operating Environment and Future Outlook - Management highlighted the explosive growth of China's IP industry and the importance of premium IP and short dramas in driving future growth [5][6] - The company is committed to becoming a key architect of China's IP ecosystem evolution, focusing on creative transformation and premium IP development [19] Other Important Information - The company has integrated AI across its business lines, enhancing content creation and user engagement [17][18] - The merchandise business is expanding with a focus on product development, channel distribution, and user engagement [13][15][37] Q&A Session Summary Question: Current progress of IP merchandise business and future development priorities - Management discussed the successful IP merchandise initiatives, including events like the King's Avatar tournament in Zurich, and plans to expand product categories and distribution channels [31][33][35][38] Question: Top priorities and KPIs for classic IPs - Management emphasized the importance of releasing new content for classic IPs and enhancing their commercial value through diversified adaptations and merchandise [40][42][43] Question: Commercialization potential of top IPs and future plans - Management expressed confidence in the commercialization potential of IPs, highlighting the need to adapt to evolving user demands and trends in the merchandise market [46][51][52] Question: Content pipeline for Newcastle Media and AI deployment - Management outlined the upcoming content releases for the second half of the year and discussed the integration of AI technologies to enhance content production and user engagement [57][60][61]

8月12日，阅文集团（下称"阅文"）公布2025年中期业绩显示，2025年上半年阅文实现收入31.9亿元， 同比减少23.9%；上半年调整后净利润5.078亿元，同比减少27.7%。但归母净利润达8.5亿元，同比增长 68.5%。 报告期内，阅文的传统网文业务仍展现出韧性，在线阅读平台新增作家20万名，新增小说41万本，新增 字数约200亿。新签约作家中，达成均订过万的作家数量同比增长45%。2025年新增"白金大神"中，90 后作家占比近八成，同时出现多位95后新锐作家。新签约作品中，收入超过100万元的数量同比增长 63%，《没钱修什么仙》《捞尸人》《异度旅社》均订突破十万。而平台平均月付费用户数也达到920 万，同比增长4.5%；月票过万的作品数同比增长20%，月票过百万的作品数同比增长200%。 | | | 截至六月三十日止六個月 | | | --- | --- | --- | --- | | | 二零二五年 | 二零二四年 | 同比變動 | | | 人民幣千元 | 人民幣千元 | (%) | | | (未經審核) | (未經審核) | | | 收入 | 3.190.584 | 4.190.933 | ...

Core Viewpoint - In the first half of 2025, the company reported a revenue of 3.19 billion yuan, a year-on-year decrease of 23.9%, while net profit reached 850 million yuan, showing a year-on-year increase of 68.5% [1] Revenue Breakdown - Online business revenue was 1.99 billion yuan, representing a year-on-year growth of 2.3% and accounting for 62.2% of total revenue [1] - Copyright operation and other revenues amounted to 1.21 billion yuan, making up 37.8% of total revenue [1] - The GMV (Gross Merchandise Volume) of IP derivative products reached 480 million yuan, nearly matching the total for the entire year of 2024 [1] Operational Highlights - The online reading platform added 200,000 new authors and 410,000 new novels, with a total of approximately 20 billion new words added [1] - The number of newly signed works with revenue exceeding 1 million yuan increased by 63% year-on-year [1] - The average monthly paying users (MPU) reached 9.2 million, reflecting a year-on-year growth of 4.5% [1]

Core Viewpoint - In the first half of 2025, the company reported a revenue decline of 23.9% year-on-year, while operating profit increased significantly by 92.7%, and net profit attributable to shareholders rose by 68.5% [1] Revenue Breakdown - The company's revenue is divided into two main segments: online business and copyright operation [1] - Online business revenue reached 1.99 billion yuan, a year-on-year increase of 2.3%, with self-owned platform products growing by 3.1% and Tencent product channel revenue declining by 25.6% [1] - The average monthly active users for self-owned platform products decreased by 2.5%, while the average monthly paying users increased by 4.5% to 9.2 million [1] - Revenue from copyright operation and other businesses was 1.2 billion yuan, a year-on-year decrease of 46.4%, primarily due to the development cycle and scheduling of film and television projects [2][4] Cost and Profitability - The cost of revenue decreased significantly, particularly in content production, which was 190 million yuan, less than one-third of the previous year's figure [4] - Excluding the impact of New Classics Media, the non-IFRS net profit attributable to shareholders was 550 million yuan, a year-on-year increase of 35.7% [4] IP and New Initiatives - The company's IP derivative business showed strong growth, with GMV reaching 480 million yuan, close to the total for the entire previous year [4] - The company is focusing on short dramas and has opened over 2,000 web novel IPs for high-quality short drama production [5] - The integration of AI into existing business is being explored, with the launch of an AI writing assistant that has increased author interaction by 40% [5] International Expansion - The overseas reading platform WebNovel saw a 38% year-on-year increase in revenue from AI-translated works, which now account for over 35% of total platform revenue [6] - 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 translated content [6]

在非国际财务报告准则基础下，公司权益持有人应占盈利约5.08亿元，而2024年同期则为7.02亿元。该 减少主要是由于新丽传媒的影视剧项目在今年排期不均所致。撇除新丽传媒的影响，非国际财务报告准 则公司权益持有人应占盈利同比增加35.7%至5.45亿元。 本文源自财华网 【财华社讯】阅文集团(00772.HK)公布，截至2025年6月30日止六个月，收入约31.91亿元(人民币,下 同)，同比减少23.9%；公司权益持有人应占盈利约8.5亿元，同比增加68.5%；每股基本盈利0.84元。不 派中期股息。 ...

【环球网财经报道 记者 李文瑶】8月12日晚间，阅文集团（股票代码：0772.HK，以下简称"阅文"）公布2025年中期业绩。业绩公告显示，2025年上半年阅 文实现收入31.9亿元，归母净利润达8.5亿元，同比增长68.5%。 | 人民幣千元 人民幣千元 | | | --- | --- | | 二零二五年 二零二四年 (未經審核) (未經審核) | ना | 报告期内，上半年阅文在线阅读平台新增了20万名作家和41万本小说，新增字数约200亿。阅文新签约的作品中收入超过100万元的数量同比增长63%，《没 钱修什么仙》《捞尸人》《异度旅社》均订突破十万大关。上半年阅文平均月付费用户数（MPU）达920万，同比增长4.5%，平台月票过万的作品数同比增 长20%，月票过百万的作品数同比增长200%。阅文的IP衍生品业务也展现出了极强的增长势能，上半年GMV达4.8亿元，接近去年全年水平。 此外，阅文的AI翻译模型大幅推动了中文作品走向全球。今年上半年，阅文的海外阅读平台WebNovel的AI翻译作品收入同比增长38%，占平台小说总收入 的比例已超过35%。截至2025年6月30日，WebNovel向海外用户提供 ...

Core Viewpoint - The recent court ruling against an individual for copyright infringement highlights the ongoing challenges faced by the digital content industry in protecting intellectual property rights, particularly in the context of online literature [1][2]. Group 1: Legal Proceedings and Outcomes - The court found that the infringer, Ye, intentionally violated copyright laws, resulting in a ruling that requires him to pay double the damages, totaling over 100,000 yuan for economic losses and legal expenses [1]. - Ye disseminated paid content from the work "吞噬星空2" through various channels, including WeChat public accounts and mini-programs [1]. - Following the court's decision, Ye issued an apology in the comments section of the "吞噬星空2" on the platform, acknowledging the ruling [1]. Group 2: Copyright Protection Efforts - The work "吞噬星空2," authored by the well-known writer "我吃西红柿," has garnered a significant readership of 3.96 million on the Qidian Reading App, with a total of 1.4 million words serialized and 13,000 monthly votes [1]. - In 2024, the company identified 145 million instances of piracy and faced 34.41 million attacks on its copyright [1]. - The company has expanded its copyright protection efforts to cover 12,000 titles and employs a combination of automated technology, manual processing, and legal actions to combat piracy [1][2]. Group 3: Current State of Piracy - In the first half of 2025, over 47 million piracy links were reported, involving 32,000 domains, indicating a significant increase in copyright infringement activities [2]. - The company is prepared for a long-term battle against piracy, committing to ongoing investments in technology and legal resources to protect original content [2].

新浪科技讯 8月8日上午消息，近日，阅文集团旗下《吞噬星空2：起源大陆》的侵权案宣判。 据判决书资料，侵权人叶某通过多个微信公众号、小程序等渠道，传播原发布于阅文旗下起点读书App 的《吞噬星空2：起源大陆》付费章节内容，侵权时间长达8个月，并由此获取非法收益。 公开信息显示，阅文2024年监测盗版链接1.45亿条，遭遇盗版攻击3441万次。阅文近年来加大版权保护 力度，将重点防护书籍扩大至12000本的规模，并通过技术自动化投诉、人工处理、法律维权等手段持 续对抗，但反盗版形势仍然严峻。 据阅文反盗版团队成员透露，2025年上半年以来，盗版链接就有超过4700万条，涉及域名 32000个，与 此同时，来自非法盗版站点、隐匿于微信群、QQ群、论坛等私域社群以及个别个人账号的恶意侵权行 为也在严重冲击版权保护生态。阅文相关人士表示："我们做好了长期作战的充分准备，也会持续在技 术、维权上投入人力和成本，坚决捍卫原创内容的价值，打好反盗版的持久战。" 责任编辑：杨赐 法院认定侵权人叶某故意侵权、情节严重，要求承担2倍惩罚赔偿，最终判赔经济损失和维权开支共计 10万余元。法院认为，惩罚性赔偿的目的不仅在于填补权利人 ...

一部网络小说，衍生出集有声书、广播剧、漫画、动画、电视剧、电影、手游、衍生品等于一身的 IP作品。一个全球共创IP何以炼成？ 2011年，500多万字的网络小说《全职高手》在起点中文网开始连载。刚动笔时，该书作者、阅文 集团白金作家"蝴蝶蓝"不会想到，这部电子竞技题材的网络小说，长尾效应如此显著：改编动画首日播 放破亿次，动画系列总播放量超25亿次；动画大电影《全职高手之巅峰荣耀》在9个国家及地区上映； 同名电视剧播放量近40亿次。 7月21日，瑞士国家旅游局与阅文集团《全职高手》IP合作启动，主角叶修"入职"瑞士国家旅游 局，化身2025年"瑞士旅游探路员"，为期一个月的主题打卡活动将在瑞士各地举行。社交平台上，"苏 黎世见"已经成为各国粉丝通用的问候语。 "数字大航海"时代，网络文学正带着万千中国好故事扬帆远航。侯晓楠感慨："只有实现本土化表 达，才能在真正意义上实现中华文化走出去，让好作品有机会成为伴随一代代人成长的全球IP。" 作家"天蚕土豆"、浙江省网络作家协会副主席李虎： 我的网文漂洋记 我10多年前开始创作网络文学，最开始只是写给中国的读者看。后来，我的作品被海外读者出于热 情自发翻译成了外文， ...