Core Insights - The company reported a revenue of RMB 584 million for the year ending December 31, 2024, representing a year-on-year increase of approximately 35.8% [1] - The two main business segments, IP creation and operation, and new retail, contributed 53.8% and 46.2% to total revenue, respectively [1] - Gross profit reached RMB 327 million, up about 18.4% year-on-year, while net profit was RMB 50.2 million, reflecting a year-on-year increase of 21.3% [1] IP Creation and Operation - The revenue from IP creation and operation surpassed new retail for the first time, generating RMB 314 million in the fiscal year 2024, a growth of approximately 65.1% from RMB 190 million in fiscal year 2023 [2] - The significant growth in this segment was driven by the successful airing of two major television programs, including the second season of "Travel Diary" featuring Jay Chou, which garnered 392 trending topics and over 6 billion views on Weibo [2] - Another program, "Happy Talk," hosted by Yu Chengqing, maintained the highest ratings among similar shows during its broadcast period, generating RMB 168 million in revenue from these programs [2] New Retail Performance - The new retail segment continued to perform strongly, recording revenue of approximately RMB 270 million, a year-on-year increase of about 12.5% [4] - This segment focuses on the development and sale of health management and skincare products, utilizing various distribution channels [4] - The flagship product, Magic Coffee, has been well-received by consumers, ranking first in the Chinese bulletproof beverage market from 2020 to 2024 based on total sales [4]