Company Overview - The company has transitioned from being a "digital reading platform in the internet era" to a "multi-modal content production and operation platform in the AI era" [1] - The short drama business has become the company's largest revenue segment, generating 776 million yuan in 2024 and continuing to grow rapidly in 2025 [1][4] Short Drama Business Development - The company plans to develop its own short drama APP platforms, including a free short drama APP and a paid short drama APP, to enhance user engagement and interaction [2] - The overseas short drama platform iDrama has gained nearly 200,000 new users since its launch, performing well in markets such as the US, South Korea, and Indonesia, and has ranked in the top 50 of entertainment categories on App Store and Google Play [2] AI Integration - The company is optimizing its reading AI, "Zhangyue Shoutong," and advancing AI+multi-modal applications [2] - AI short dramas will include two types: realistic AI short dramas and AI animated short dramas derived from real short dramas, with plans to release approximately three AI short dramas each month [2][5] Revenue and Profitability - The gross margin for the short drama business was 60.87% last year, with expectations for net margins to improve as the business scales [5][7] - The company aims to enhance the profitability of its self-owned short drama platform as user growth stabilizes [8] Future Plans - The company intends to deepen its presence in overseas markets, particularly in North America and Southeast Asia, while increasing the proportion of local dramas on the iDrama platform [8] - The company is exploring the integration of AI interactivity in short dramas as technology matures and market dynamics evolve [8]

Group 1 - The company reported a slight decline in overall revenue due to a year-on-year decrease in income from its digital reading platform, but derived businesses like short dramas have become the largest segment with strong growth momentum [4][5][6] - The company has upgraded its strategy from being a "digital reading platform in the internet era" to a "multi-modal content production and operation platform in the AI era" [4][5] - The domestic short drama segment has seen significant expansion through the use of AI technology, enhancing efficiency across various production and operational processes [4][5][6] Group 2 - The company has launched an overseas short drama platform named iDrama, which has quickly gained nearly 200,000 new users since its launch, performing well in markets like the US, South Korea, and Indonesia [4][5][6] - The platform has been recognized in the App Store and Google Play's top 50 entertainment charts, indicating strong market acceptance and performance [4][5][6] - The company is actively responding to the national strategy of "cultural going out" by expanding its overseas presence [4][5][6] Group 3 - The company held its fourth board meeting on April 25, 2025, where it approved the first quarter report for 2025 and the proposal to elect Li Zhaomeng as a candidate for the board of directors [21][22][25] - The meeting was attended by all five board members, and the resolutions were passed unanimously [21][22][23] - The annual shareholder meeting is scheduled for May 12, 2025, where the newly proposed agenda will be discussed [11][14][15]

Key Points - The article discusses various significant events and developments in China, including diplomatic meetings, environmental improvements, and cultural activities [3][5][14]. Group 1: Diplomatic and Political Developments - On April 23, President Xi Jinping met with Azerbaijani President Aliyev in Beijing, highlighting the importance of bilateral relations [3]. - Xi emphasized the need for strong military-civilian unity in his directives regarding military and political collaboration [4]. - The Chinese government is actively engaging in international dialogues, as seen in Xi's address to the Climate and Just Transition Leaders' Summit [5]. Group 2: Economic and Environmental Updates - In the first quarter of this year, domestic travel in China reached 1.794 billion trips, marking a year-on-year increase of 26.4% [8]. - The Ministry of Ecology and Environment reported overall improvements in air and water quality in the first quarter of this year [14]. Group 3: Cultural and Social Events - The 2025 Shanghai Auto Show opened on April 23, featuring approximately 1,300 vehicles, the largest scale in history, with over 100 new models debuting [20]. - A giant panda pair, "He Feng" and "Lan Yun," arrived in Vienna, Austria, for a ten-year residency, showcasing China's cultural diplomacy [25].

新华社记者史竞男、万倩仪、邢拓 新华社北京4月23日电 题：用户达6.7亿！读书日看数字阅读之变 轻点手机屏幕，万卷诗书掌间流转；打开智能手表，日推金句映入眼帘；聆听有声读物，人间烟火萦绕 耳畔……数字时代，人们的阅读方式有了更多选择。 4月23日是世界读书日，在山西太原举办的第四届全民阅读大会上，最新发布的《2024年度中国数字阅 读报告》显示，2024年我国数字阅读市场总体营收规模为661.41亿元，用户规模已达6.7亿。 透过这份报告，一起来看过去一年的"阅读之变"。 队伍更庞大—— 2024年，数字阅读用户规模实现"增加一个亿"的目标，增长率为17.52%，增长量和增长率均创下近年来 新高。 从"一书在手"到"一屏万卷"，十年来，我国数字阅读用户规模实现了翻倍增长，数字阅读已成为全民阅 读的重要引擎。 报告显示，26岁至35岁的用户仍然是主力；26岁及以上的用户占比已接近六成。 "数字阅读正在由以年轻人为主向更加成熟的年龄层渗透。"中国音像与数字出版协会第一副理事长张毅 君说。 场景更智能—— 报告显示，2024年，电子阅读依然是数字阅读用户的"心头好"。 "90后"陈文婷是读书软件的年付费会员。她认 ...

Core Insights - The 2024 China Digital Reading Report indicates that the user base for digital reading in China will expand to 670 million, with users aged 26 and above doubling in proportion over four years, reflecting a deeper penetration across all age groups [3] - The total revenue for the digital reading industry is projected to reach 66.141 billion yuan in 2024, representing a year-on-year growth of 16.65%, showcasing the industry's robust development [3] Industry Trends - The digital reading market is experiencing steady growth, driven by the "content + technology + integrated innovation" strategy of China Mobile Migu, which aligns with industry development trends [5] - The total number of digital reading works is expected to increase by 6.31% year-on-year in 2024, with online literature and e-books remaining the main content types [5] - The market is shifting from a "traffic-driven" model to a "content-driven" model, influenced by the increasing demand for high-quality and diverse digital reading content [5] Company Developments - Migu Shumedia is focusing on creating a mainstream platform for quality online literature, supported by over 20,000 signed authors and more than 20,000 full copyright novels [7] - The company has successfully integrated online literature with short dramas, with several micro-dramas being recognized by the National Radio and Television Administration [7] - Migu Shumedia has made significant strides in the internationalization of digital reading, with 808,400 works available for overseas markets, marking a year-on-year growth of 6.03% [9] Technological Advancements - The application of new technologies, particularly generative artificial intelligence, is showing vast potential in the digital reading sector [9] - Migu Shumedia has developed an AI-driven content creation engine that enhances the efficiency and quality of digital content production [9] - The integration of AI and 5G technology is facilitating a transition in the digital reading industry from scale expansion to value deepening [10]

据新华社消息，2024年我国数字阅读用户规模达6.7亿，同比增长17.52%。在第四届全民阅读大会上发 布的中国数字阅读报告指出，我国数字阅读市场总体营收规模为661.41亿元，同比增长16.65%。报告还 显示，我国数字阅读作品总量约为6307.26万部，其中网络文学和电子书占比约67.55%，有声阅读作品 占比约32.45%。 ...

华夏时报（www.chinatimes.net.cn）记者 于玉金 北京报道 净利润连降三年后，掌阅科技终于"翻身"，净利润开始转增。 掌阅科技4月18日晚间发布2024年年报显示，其归属于上市公司股东的净利润为4929.17万元，同比增长41.46%。 值得关注的是，掌阅科技在稳步发展免费阅读业务的同时大力发展衍生业务，衍生业务实现收入7.76亿元，成为 第二增长曲线。4月21日，掌阅科技股价收涨6.85%。 文娱产业分析师张书乐在接受《华夏时报》记者采访时表示，"在短剧赛道，由于此前野蛮生长，用户已经出现审 美疲劳，而由优质网文改编的短剧反而大有可为，机会窗口此刻开向了如掌阅科技这般的平台一方。" 净利润增长41.46% 最新的财报显示，掌阅科技实现营收25.83亿元，同比下滑7.02%。对于营收下滑，掌阅科技在财报中解释，"受市 场变化影响，公司数字阅读及版权产品业务收入降低所致。" 2024年，掌阅科技数字阅读平台收入为16.47亿元。同比下滑25.91%；与此同时，版权产品业务收入同比减少 39.53%至1.58亿元。 掌阅科技方面人士在接受《华夏时报》记者采访时表示，"随着互联网行业格局逐步成型， ...

Core Viewpoint - In 2024, Zhangyue Technology (掌阅科技) reported significant growth in revenue and profit, driven by strategic transformation and expansion into derivative businesses, particularly short dramas and AI applications in digital reading [1][2][3] Financial Performance - The company achieved a revenue of 2.583 billion yuan in 2024, with a net profit of 49.2917 million yuan, representing a year-on-year increase of 41.46% [1] - The non-net profit reached 32.3977 million yuan, showing a remarkable growth of 185.38% year-on-year [1] - In Q4 2024, the net profit was 86.122 million yuan, reflecting a quarter-on-quarter growth of approximately 692% [1] Strategic Transformation - Zhangyue Technology is committed to a strategic transformation, focusing on the steady development of free reading services while aggressively expanding derivative businesses [1] - The company has enhanced its quality content reserve by introducing thousands of premium digital books and audio content, solidifying its content barrier [1] Derivative Business Development - The derivative business generated 776 million yuan in revenue, marking a year-on-year increase of 189.99% and accounting for 30.02% of total revenue, establishing it as a second growth curve for the company [2] - The company has developed various forms of short dramas, collaborating with multiple production and technology partners, and has released hundreds of short dramas across diverse genres [2] AI Integration - Zhangyue Technology is actively advancing the application of AI models in digital reading and derivative businesses, leveraging its advantages in content copyright resources and user base [3] - The "Zhangyue AI Assisted Reading" feature has been launched on the "Zhangyue" app, enhancing user reading efficiency through AI technology [3]

登录新浪财经APP 搜索【信披】查看更多考评等级 ● 投资者可于2025年4月14日（星期一）至4月18日（星期五）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱ir@zhangyue.com进行提问。公司将在说明会上对投资者普遍关注 的问题进行回答。 掌阅科技股份有限公司（以下简称"公司"）将于2025年4月19日披露公司2024年度报告，为便于广大投 资者更全面深入地了解公司2024年度经营情况、财务状况，公司计划于2025年4月21日下午15:00–16:00 举行2024年度业绩说明会，就投资者关心的问题进行交流。 一、说明会类型 本次业绩说明会以网络互动形式召开，公司将针对2024年度的经营成果及财务指标的具体情况与投资者 进行互动交流和沟通，在信息披露允许的范围内就投资者普遍关注的问题进行回答。 二、说明会召开的时间、地点 证券代码：603533 证券简称：掌阅科技 公告编号：2025-010 掌阅科技股份有限公司 关于召开2024年度业绩说明会的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承 ...

Industry Investment Rating No investment rating information is provided in the report. Core Viewpoints - Focus on the development of downstream applications in the digital industry [1] - The financial industry expands the scope of loan support and increases the credit limit [1] Summary by Directory Middle - view Event Overview Production Industry - The National Press and Publication Administration solicits opinions on the "Regulations on Promoting National Reading (Draft for Comment)", supporting the development of digital reading [1] Service Industry - The Ministry of Human Resources and Social Security expands the scope of the special loan for stabilizing and expanding employment to include individual business owners, and raises the maximum credit limit for small and micro - enterprises to 50 million yuan and 10 million yuan for individuals [1] Industry Overview Upstream - Energy: International oil prices fluctuate [1] - Chemical: Polyethylene prices continue to decline [1] - Building Materials: Cement and building material prices continue to decline [1] - Non - metal: Natural rubber prices decline slightly [1] - Black: Coke prices decline [1] Middle - stream - Chemical: PTA operating rate declines compared to the same period; the operating rates of urea, PX, and polyester increase compared to the same period [2] Downstream - Real Estate: The sales of commercial housing in first - and second - tier cities are weaker than the same period [3] - Service: The number of international flights increases, while the number of domestic flights decreases compared to the same period [3] Market Pricing - Industry credit spreads fluctuate slightly [4] Industry Credit Spread Tracking | Industry | Year - to - date | One - quarter ago | One - month ago | Last week | This week | Quantile | | --- | --- | --- | --- | --- | --- | --- | | Agriculture, Forestry, Animal Husbandry and Fishery | 77.60 | 92.21 | 79.41 | 87.29 | 84.25 | 15.60 | | Mining | 50.64 | 49.73 | 47.63 | 55.04 | 49.71 | 29.00 | | Chemical | 77.06 | 91.61 | 67.80 | 74.85 | 69.44 | 14.80 | | Steel | 57.83 | 60.30 | 57.20 | 64.78 | 58.69 | 19.50 | | Non - ferrous Metals | 63.81 | 57.44 | 56.18 | 65.10 | 59.26 | 28.40 | | Electronics | 71.75 | 75.15 | 80.49 | 87.83 | 79.59 | 53.20 | | Automobile | 85.62 | 80.96 | 65.90 | 72.33 | 52.70 | 0.00 | | Household Appliances | 61.09 | 56.22 | 53.92 | 58.28 | 50.56 | 12.70 | | Food and Beverage | 59.00 | 45.53 | 44.39 | 53.57 | 46.32 | 14.00 | | Textile and Apparel | 76.82 | 57.97 | 56.89 | 64.33 | 55.64 | 10.80 | | Light Industry Manufacturing | 252.03 | 202.77 | 197.14 | 205.58 | 201.09 | 14.70 | | Pharmaceutical Biology | 69.15 | 75.61 | 65.88 | 77.40 | 72.41 | 28.60 | | Public Utilities | 41.14 | 35.91 | 33.18 | 40.03 | 34.73 | 28.40 | | Transportation | 49.26 | 39.69 | 36.57 | 42.87 | 39.54 | 16.90 | | Real Estate | 328.68 | 193.60 | 152.71 | 151.38 | 139.80 | 13.70 | | Commercial Trade | 65.60 | 53.18 | 51.82 | 60.18 | 53.50 | 15.50 | | Leisure Services | 76.21 | 98.68 | 108.37 | 108.00 | 103.97 | 92.60 | | Bank | 34.48 | 27.28 | 30.86 | 31.64 | 29.38 | 55.20 | | Non - bank Finance | 42.22 | 38.93 | 35.55 | 41.14 | 36.49 | 18.50 | | Comprehensive | 77.36 | 54.33 | 50.67 | 56.24 | 51.27 | 5.20 | | Building Materials | 53.59 | 49.32 | 46.51 | 55.78 | 48.88 | 27.00 | | Building Decoration | 59.58 | 58.42 | 56.64 | 62.39 | 57.36 | 16.90 | | Electrical Equipment | 79.81 | 85.02 | 82.75 | 95.68 | 87.87 | 52.00 | | Machinery and Equipment | 51.08 | 45.71 | 44.36 | 52.15 | 46.52 | 29.80 | | Computer | 100.49 | 83.35 | 69.85 | 76.46 | 68.52 | 5.70 | | Media | 208.09 | 48.00 | 44.56 | 53.78 | 47.76 | 3.40 | | Communication | 52.39 | 39.68 | 37.28 | 43.96 | 35.53 | 9.20 | [42] Key Industry Price Index Tracking | Industry Name | Index Name | Frequency | Unit | Update Time | Current | YoY | 5 - day Trend | | --- | --- | --- | --- | --- | --- | --- | --- | | Agriculture | Spot price of corn | Daily | Yuan/ton | 3/24 | 2210.0 | 0.26% | | | | Spot price of eggs | Daily | Yuan/kg | 3/24 | 6.8 | 0.75% | | | | Spot price of palm oil | Daily | Yuan/ton | 3/24 | 9704.0 | - 0.16% | | | | Spot price of cotton | Daily | Yuan/ton | 3/24 | 14928.7 | - 0.02% | | | | Average wholesale price of pork | Daily | Yuan/kg | 3/24 | 21.1 | 0.24% | | | Non - ferrous Metals | Spot price of copper | Daily | Yuan/ton | 3/24 | 81146.7 | 1.44% | | | | Spot price of zinc | Daily | Yuan/ton | 3/24 | 24148.0 | 0.20% | | | | Spot price of aluminum | Daily | Yuan/ton | 3/24 | 20823.3 | - 0.48% | | | | Spot price of nickel | Daily | Yuan/ton | 3/24 | 130300.0 | - 0.65% | | | | Spot price of aluminum | Daily | Yuan/ton | 3/24 | 17393.8 | - 0.07% | | | | Spot price of rebar | Daily | Yuan/ton | 3/24 | 3186.7 | - 0.95% | | | Ferrous Metals | Spot price of iron ore | Daily | Yuan/ton | 3/24 | 790.8 | - 0.79% | | | | Spot price of wire rod | Daily | Yuan/ton | 3/24 | 3367.5 | - 1.46% | | | | Spot price of glass | Daily | Yuan/square meter | 3/24 | 15.2 | 1.00% | | | Non - metal | Spot price of natural rubber | Daily | Yuan/ton | 3/24 | 16636.0 | 0.46% | | | | China Plastic City Price Index | Daily | - | 3/24 | 856.5 | - 0.60% | | | | Spot price of WTI crude oil | Daily | US dollars/barrel | 3/24 | 68.3 | 1.64% | | | Energy | Spot price of Brent crude oil | Daily | US dollars/barrel | 3/24 | 71.6 | 1.46% | | | | Spot price of liquefied natural gas | Daily | Yuan/ton | 3/24 | 4222.0 | 1.93% | | | | Coal price | Daily | Yuan/ton | 3/24 | 789.0 | - 2.23% | | | | Spot price of PTA | Daily | Yuan/ton | 3/24 | 4877.3 | 1.25% | | | | Spot price of polyethylene | Daily | Yuan/ton | 3/24 | 8033.3 | - 1.65% | | | Chemical | Spot price of urea | Daily | Yuan/ton | 3/24 | 1963.0 | 4.58% | | | | Spot price of soda ash | Daily | Yuan/ton | 3/24 | 1538.0 | - 1.28% | | | | National cement price index | Daily | - | 3/24 | 148.9 | - 1.10% | | | Real Estate | Comprehensive building material index | Daily | Points | 3/24 | 117.5 | - 0.76% | | | | National concrete price index | Daily | Points | 3/24 | 100.5 | 0.04% | | [43]