Core Viewpoint - Guizhou's IPTV has rapidly evolved from a late starter to a leading example of value creation in the industry, with a household coverage rate of nearly 89% and over 11.295 million users [1][2]. Group 1: Growth and Innovation - Guizhou's Duocai New Media Co., Ltd. has transformed from a "follower" to a "benchmark for value creation" in less than ten years, driven by deep technological innovations [2]. - The growth of Duocai New Media is rooted in various technological advancements, including terminal architecture innovation, ultra-high-definition technology implementation, and upgrades to its operational systems [2][3]. Group 2: User Experience Enhancement - Duocai New Media has shifted the broadcasting service focus from merely meeting functional needs to reconstructing user experience [3]. - The company has addressed long-standing user experience issues in IPTV, particularly in content search and recommendation efficiency, by integrating advanced algorithms and optimizing content retrieval technology [5][8]. - The time taken for content retrieval has been reduced from approximately 15 seconds to under 2 seconds, significantly improving user satisfaction [9]. Group 3: Operational Efficiency - In 2024, Duocai New Media restructured its broadcasting control operations, integrating AI capabilities and automation technologies to create a comprehensive intelligent operation system [12]. - The automation of core operational processes has led to a 56% reduction in manual steps and nearly doubled the efficiency of basic business processing [14]. - The company has developed two related patents, further solidifying its technological barriers [16]. Group 4: Terminal and Ultra-High-Definition Experience - Duocai New Media has restructured its terminal technology architecture to enhance user interaction and cross-device experience, addressing issues of single interaction and device compatibility [18]. - The introduction of a new product, "Mobile Super TV," has improved user engagement by 28% in its first month, allowing seamless content transition across devices [21]. - The ultra-high-definition service has been upgraded with a quality mode switch feature, enabling users to select between 4K and 1080P based on their network conditions [22]. Group 5: Ecosystem and Security Foundations - Duocai New Media has established a dual middle-platform architecture to address fragmented business systems and data silos, reducing infrastructure costs by 25% while supporting real-time data processing for millions of users [26]. - The company has implemented a visual intelligent operation platform that monitors nearly 2,000 virtual servers and 1,000 live broadcast channels, achieving a 92% accuracy rate in preemptive risk identification [27]. - A comprehensive content quality monitoring system has been developed to ensure zero-fault operation of current products [28]. Group 6: Industry Recognition and Value Creation - Duocai New Media has received multiple industry accolades, with a total of 6 patents and 107 software copyrights, contributing to national and provincial technology projects and standards [30]. - The company's technological innovations have created significant industry and social value, including targeted marketing and the promotion of cultural resources through 4K technology [32]. - The exploration of these innovations demonstrates that the digital transformation of the broadcasting industry is not just about technology but also about a user-centered, comprehensive reconstruction of services [32][33].

Performance Overview - In 2024, the company achieved a total revenue of 9.79 billion yuan, a decrease of 1.37% compared to 2023 [2] - The net profit attributable to shareholders was 4.00 billion yuan, down 2.38% year-on-year [2] - In Q1 2025, the company reported a revenue of 2.35 billion yuan and a net profit of 1.17 billion yuan, reflecting a growth of 7.45% [3] Strategic Initiatives - The company is focused on a "value creation + value transmission" dual strategy to enhance market expectations and improve long-term investment value [4] - R&D investment for 2024 was maintained at over 40 million yuan, indicating a commitment to innovation [3] - The company has implemented a stable dividend policy, with a cumulative cash dividend of 6.20 billion yuan since its IPO [6] IPTV Business Development - IPTV basic business revenue reached 7.95 billion yuan in 2024, with a slight growth of 0.02% [8] - The number of effective IPTV users was 16.85 million, contributing to an additional revenue of 1.39 billion yuan from value-added services [8] - The company is enhancing user experience through new service offerings and partnerships with major telecom operators [8] Short Video and Micro-Drama Initiatives - The company is actively developing its micro-drama business, establishing a production base and launching various projects [10] - It has achieved significant recognition in the industry, being awarded multiple accolades for its micro-drama production capabilities [10] - The company is exploring diverse business models in the short video sector to ensure sustainable growth [10] Market Position and Future Outlook - The overall IPTV industry is experiencing stable growth, with the company maintaining a strong competitive position [9] - The deployment of new technologies and regulatory support is expected to drive further growth in the IPTV sector [10] - The company aims to leverage its large IPTV user base to enhance its short video business and expand its market reach [11]