Core Viewpoint - AIGC software company Wanjing Technology (300624.SZ) reported a revenue of 1.44 billion yuan for 2024, focusing on digital creative software and embracing AIGC technology to enhance product quality and explore external collaboration opportunities [1] Group 1: Financial Performance - The company achieved a total revenue of 1.44 billion yuan in 2024, with a core business revenue from video creativity reaching 961 million yuan, accounting for 67.06% of software revenue [2] - The company reported a year-on-year revenue growth of 6.06% in Q1 2025, with a revenue of 380 million yuan [5] - AI-native application revenue for 2024 was approximately 67 million yuan, showing a year-on-year growth of over 100% [2] Group 2: Research and Development - R&D personnel accounted for about 54% of the workforce, with R&D expenses totaling 442 million yuan, representing a R&D expense ratio of 30.73% [1] - The company developed a new LLM-based Agent architecture and launched the first domestic audio and video multimedia large model, "Tianmu" [1] Group 3: Product Innovation and Market Position - The company is transitioning from traditional professional tools to AI innovation tools, with a focus on AI integration across its entire product line [2] - The upgraded Wondershare Filmora V14 saw significant user growth, with mobile product monthly active users increasing by approximately 90% [2] - The company’s AI functionality usage surged, with over 500 million AI server calls and more than 14 million AI material exports, a year-on-year increase of over 700% [2] Group 4: Market Trends and Strategic Positioning - The global creator economy is projected to reach 143 billion USD in 2024, with expectations to grow to 1,487 billion USD by 2034 [4] - Wanjing Technology aims to establish an "open independent third-party AI application product matrix" to enhance business decision-making and product quality [4] - The company is actively participating in global industry events to strengthen its market presence and promote its products [3]