Core Viewpoint - The company is actively exploring and investing in the short and mid-length drama sector as part of its "2426" strategy, aiming to establish a replicable business model and collaborate with leading MCN institutions and content creators [2]. Group 1: Investment and Content Production - As of the current year, the company has invested in 5 long dramas (including web dramas and TV series), 23 high-quality horizontal mid-length dramas, and 14 vertical short dramas [2]. - The investment strategy focuses on high-quality content, with a consistently high project selection success rate [2]. Group 2: Distribution Channels - The company's content is distributed across major platforms such as iQIYI, Youku, Tencent Video, Mango TV, and Hongguo Short Drama [2]. Group 3: Performance of Released Content - The released dramas have achieved significant success, with "Three More Snow" ranking first in the October monthly and fourth in the annual short drama charts according to Yunhe Data [2]. - "Desperate Pursuit Order" topped the short drama weekly chart in week 45 and ranked second in the November monthly chart [2]. - "Three People Walking" received a score of 7.5 on Douban and ranked third in the Douban Chinese drama weekly chart [2].

Core Viewpoint - The company, New Media Co., Ltd. (300770), is focusing on investing in high-quality micro short dramas by 2025, having already invested in over 40 productions across various formats [1] Investment Strategy - The company has adopted a strategy of investing in high-quality content, with a diverse portfolio that includes long dramas, premium horizontal mid-length dramas, and vertical short dramas [1] - The investment channels for the content include major platforms such as iQIYI, Youku, Tencent Video, Mango TV, and Hongguo Short Drama [1] Performance Highlights - The company has seen significant success with its released dramas, with "Three More Snow" ranking 4th in the annual short drama chart by Yunhe Data [1] - "Desperate Pursuit Order" achieved the top position in the weekly short drama chart (Week 45) by Yunhe Data [1] - "Three People Walking" received a score of 7.5 on Douban, ranking 3rd in the Douban Chinese drama weekly chart [1] Evaluation Criteria - As an investor, the company conducts a thorough evaluation of film and television projects based on script assessment, project quality, creative team, distribution channels, policy risks, and financial models [1] - The investment ratio will be determined based on actual circumstances [1]