本文来自微信公众号：薯仔在发呆，作者：HenryYang，头图来自：AI生成 如果要问当代互联网从业者，特别是在大厂工作的朋友，最期待的一件事是什么？那大概率得到的回答会是——拿礼包。对于一年前的我，拿礼包也算是 top3 希望发生的事了，具体原因暂且按下不表了（给自己挖个坑，后面有机会再写一写填上）。 没想到后来还真就收到礼包了，虽然 N+1 算下来并没有网友们流传的那么多，但也就权当是提前发年终奖了吧。 虽说之前一边期待拿礼包，一边准备后路，但是因为各种原因并没有找到合适的机会，这下礼包到手了，又有点迷茫了。 思考了几天后，突然发现，好家伙，能做的事也太多了，脑图都快给撑爆了。 在大厂工作期间，几乎找不到什么时间可以做自己的事情，全身心都投入到主业上了，工作日平均 995，到了家也就只想躺着；虽说有双休，脑子里也都 是想着除了日常的需求之外还能做哪些"分外之事"，结果是事没做什么，心里却累得不行。 离职后倒好了，一天下来除了吃饭睡觉带娃，剩下的时间完全回到自己身上，有足够的时间思考自己需要做什么，这种突然涌入的幸福感实在是难以言 表。 现在回头看看，这十个月以来总共做了四件事： 最开始做独立开发，其实并没 ...

Group 1 - The core viewpoint of the report is that Hanyi Co., Ltd. is a leading enterprise in the font library industry, focusing on the integration of technology and culture, and actively embracing artificial intelligence for growth [1][4] - The company has launched over 1,700 B-end fonts with copyright and developed more than 3,600 font products by the end of 2024, maintaining stable revenue and a gross profit margin of around 80% from 2022 to 2024 [1] - The "Ziyou" platform has adopted a new subscription-based authorization model, achieving over 13.2 million registered users and 370,000 daily active users by the end of 2024, indicating significant growth potential [2] Group 2 - Strategic investment from Founder Holdings enhances the company's access to industry resources and collaboration opportunities, particularly in font design and artificial intelligence technology [3] - The company is leveraging AI to address issues in AI-generated content, such as text errors and copyright concerns, and is seeking partnerships in AI applications and new consumer IP sectors [3] - The profit forecast for 2025-2027 estimates revenues of 238 million, 285 million, and 326 million yuan, with net profits of 50 million, 63 million, and 72 million yuan respectively, reflecting a positive growth outlook [4]

Financial Performance - The total dividend and repurchase amount for 2024 is 64.6553 million CNY, with cumulative dividends and repurchases exceeding 100 million CNY from 2022 to 2024 [3] - In 2024, the company achieved operating revenue of 190.7174 million CNY, a year-on-year decrease of 12.17% [18] - The net profit attributable to the parent company for 2024 was 8.8084 million CNY, a decline of 78.74% compared to the previous year [18] - The comprehensive gross profit margin was 80.86% [18] Industry Outlook - The font industry is expanding with new applications due to emerging smart devices like AR/VR, enhancing human-computer interaction [4] - Increasing copyright awareness among enterprises and individuals is beneficial for product sales [4] - There is a growing demand for global language font development as more Chinese companies expand overseas [4] - The industry is moving towards resource and business integration to enhance overall strength [4] Growth Opportunities - The domestic font authorization business is expected to maintain steady growth [5] - The company aims to optimize resources through industry integration and provide more font products and services for overseas enterprises [5] - AI technology will be leveraged to offer efficient solutions for large models and design applications [5] - The company plans to create more commercial products and applications around IP [5] IP Collaboration - The company is developing traditional cultural IPs, such as products based on oracle bone script, and is also focusing on popular game and film IPs [7] - The strategic cooperation with Founder Group, where the company holds an 11.2% stake, is expected to enhance overall competitiveness and address foreign competition [7] Goodwill and Financial Risks - As of December 31, 2024, the company's goodwill was valued at 157.8314 million CNY, accounting for 13.00% of total assets [8] - The company has recognized goodwill impairment provisions of 2.8205 million CNY and 2.0492 million CNY for specific asset groups [9] - Future performance risks may arise if the operational conditions of certain subsidiaries do not meet expectations [9] AI Integration - The company has launched an AI-driven font assistant to help designers quickly find suitable fonts based on descriptions or images [10] - The "AI Recognition" service in the Ziyou business helps users identify font names and origins, reducing potential infringement risks [11] - The overseas version of the Ziyou FontApp has been launched, providing font management services for Western markets [11] C-end Business Development - The C-end business is experiencing good growth and is expected to become a second growth engine by linking online and offline channels [14] - The personalized decoration business, especially in APP customization, is projected to continue growing [15]

Core Viewpoint - The company is actively expanding its global multilingual font offerings to meet the needs of domestic and international clients, particularly as they pursue overseas business opportunities [1][2]. Group 1: Business Strategy - The company aims to enhance its product services for large and medium-sized domestic clients while also laying a solid foundation for its font tools and services to enter overseas markets [1]. - The company maintains a strong advantage in customized font services, driven by the increasing global demand for multilingual font libraries due to clients' international strategies [2]. Group 2: Product Development - Following the success of the "MiSans" multilingual project for Xiaomi in 2023, the company plans to upgrade the OPPO Sans font library to version 4.0 in 2024, adding an Arabic font library [2]. - The company has developed the "QiHei Global" font solution, which covers major global language systems including Latin, Cyrillic, Arabic, Japanese, and Korean, providing comprehensive font solutions for enterprises' global layouts [2]. Group 3: Market Expansion - The company has launched the overseas version of FontApp, which offers Western font management services targeting the European and American markets [2]. - The overseas version of the AI font tool station, FontKit, has also been launched, providing services such as AI font recognition, AI image text erasure, and AI font matching [2].