Core Insights - Guomai Culture reported a revenue of 497 million yuan for the first three quarters of 2025, representing a year-on-year growth of 26.51%, with a net profit of 12.07 million yuan and a net cash flow from operating activities increasing by 48.90% [1] - The company has successfully established an innovative business model of "Publishing + Internet," driving transformation in the publishing industry and fully investing in AI technology for a strategic upgrade [1][5] Financial Performance - Revenue for the first three quarters reached 497 million yuan, a 26.51% increase year-on-year [1] - Net profit attributable to shareholders was 12.07 million yuan, with a non-recurring net profit of 9.97 million yuan [1] - Net cash flow from operating activities increased by 48.90% year-on-year [1] Business Model and Strategy - Guomai Culture focuses on publishing high-value books and follows the "Guomai Methodology" throughout the product lifecycle [1] - The company develops internet products driven by content, connecting users and facilitating internet marketing and sales, creating a virtuous cycle of interaction between publishing and the internet [1] - The company's unique business model has led to publishing performance significantly above industry averages, with a product efficiency ratio of 9.69 times the industry average in the first half of 2025 [1] Market Position and Product Launches - The company has strategically positioned itself in various verticals within the core field of copyright book publishing, including academic culture, self-help, women's growth, literature, educational aids, and fan economy [2] - The launch of Lin Junjie’s commemorative book sold over 210,000 copies within a week, generating sales exceeding 38 million yuan, showcasing the company's strong capabilities in book planning and marketing [2] - The collaboration with another famous singer, Deng Ziqi, for her debut novel "Revelation" also achieved impressive sales, with over 18,000 copies sold within an hour and sales exceeding 34 million yuan [2] AI and Technology Integration - Guomai Culture is advancing its "technological" strategic upgrade through comprehensive investment in AI technology, forming a dual-driven model of "external revenue generation + internal efficiency improvement" [3][5] - Several AI products have been successfully commercialized, including the "Book World Intelligent Publishing Platform" and "AI Proofreading King," which have been adopted by various publishing groups and government entities [4] - The "Book World Intelligent Publishing Platform" has achieved a closed-loop application across the entire publishing process, significantly improving quality and efficiency while reducing labor costs [4] Industry Trends and Future Outlook - The rise of fan economy globally is reshaping commercial landscapes and consumer culture, with Guomai Culture poised to deepen its engagement in this area, leveraging successful case studies to drive performance growth [3] - The company aims to continue consolidating its competitive advantage in the publishing industry transformation, unlocking the synergistic value of content and traffic for long-term stable growth [5]

Core Viewpoint - The company, Guomai Culture, reassures investors that its operations remain normal despite concerns over losses from the film "Three Kingdoms: The Starry Sky." The management expresses confidence in the company's long-term development and plans to enhance its core competitiveness across multiple dimensions [2]. Group 1: Company Operations - The film "Three Kingdoms: The Starry Sky Part One" is still in theaters, and specific performance details will be disclosed in future announcements [2]. - The management emphasizes that the company is operating normally and is confident in its long-term development [2]. Group 2: Business Strategy - The company aims to strengthen its core competitiveness by accurately understanding market trends and reader demands, thereby building competitive barriers and enriching its product matrix [2]. - The AI proofreading service, "AI Proofreading King," has been successfully commercialized, providing efficient proofreading services to publishing units and accumulating industry reputation and market share [2]. - Future plans include expanding AI technology applications to news, legal, and official document proofreading, creating an AI proofreading ecosystem [2]. Group 3: Technological Advancements - The company has launched the "Book World Intelligent Publishing Platform," which offers a comprehensive solution covering all aspects of publishing, including planning, topic selection, editing, production, and marketing, aimed at improving industry efficiency [2]. - Continuous efforts are being made in AI comic creation, leveraging technology to empower the entire content production process [2].

《三国的星空》国庆档票房表现低于预期，总票房 18 亿，但口碑良好， 猫眼评分 9.4，豆瓣 7.2，反映了观众对影片质量的认可，但档期选择和 宣发周期短是主要教训。 果麦文化计划重映、补拍或重拍《三国的星空》，并开发网络版、流媒 体版及海外收益，同时《三国的星空 2》（赤壁篇）也在研发计划中， 旨在充分挖掘 IP 价值。 果麦文化主业保持高增长，一季度和半年报分别增长 33%和近 30%， 但因投入期人员和行政费用较高，利润增长未达预期，公司已进入降本 增效阶段。 果麦文化已完成 AI 出版平台"书世界智能出版平台"搭建，实现创意全 流程 80%由 AI 完成，降低成本并提高效率，并推出 AI 校对王，已在党 政军及央企等领域进行本地化部署，实现小几百万收入。 果麦文化的 ERP 加 AI 部分已对外销售，部分出版集团以集团层面进行 集体采购，AI 与动画电影制作同步作为战略重点，并取得了实际客户和 收入，实现了降本增效，提高了主营业务的利润增长。 Q&A 请介绍一下果麦文化在国庆档上映的动画电影《三国的星空》的表现及其复盘。 《三国的星空》在今年（2025 年）国庆档上映，截至目前票房刚超过 8,000 ...

Core Insights - Guomai Culture is leveraging its passion for knowledge dissemination through self-media accounts, which has become a unique development path in the era of digital traffic [3][4] - The company is set to release the highly anticipated animated film "The Stars of the Three Kingdoms," which aims to create a "Three Kingdoms Universe" and develop related IP products [4][5] - Guomai Culture's film investment strategy focuses on linking with existing IPs, prioritizing projects associated with authors like Han Han and Yi Zhongtian [5][6] Group 1: Company Strategy and Innovations - The company encourages employees to create self-media accounts to share knowledge, reflecting its mission to "promote civilization with small forces" [3][4] - Guomai Culture plans to produce 1 to 2 animated films annually, establishing animation as a long-term development strategy [4][5] - The company reported a revenue of 298 million yuan in the first half of the year, a year-on-year increase of 29.75%, largely attributed to its successful educational books [6][7] Group 2: AI Integration in Publishing - Guomai Culture is embracing AI to reshape the publishing landscape, proposing a new model where content and marketing are integrated with AI-driven solutions [8][9] - The company has developed an "Intelligent Publishing Platform" that covers all aspects of publishing, including planning, editing, and marketing [8][9] - A dedicated team of nearly 30 professionals has been established to support AI development, indicating a significant investment in technology within the publishing sector [9]