Core Viewpoint - Despite the rise of digital media, traditional print newspapers in China continue to maintain a significant subscription volume, with 16.95 billion copies sold in 2024, reflecting a 1.5% year-on-year growth, equating to an average of 12 copies per person annually [1][3] Group 1: Industry Performance - In 2023, the total print volume of newspapers reached 26.01 billion copies, with a total circulation of 25.84 billion copies, generating total revenue of 61.66 billion yuan and a profit of 6.64 billion yuan [3][4] - The number of operational newspapers in China remains substantial, with 1,732 newspapers still in operation by the end of 2024, producing a daily total print volume of 11.3 million copies [5][1] Group 2: Audience Demographics - The primary readership of print newspapers is the elderly population aged 65 and above, accounting for 47% of total subscriptions, with approximately 35 million individuals maintaining the habit of reading print newspapers [6][9] - Government agencies and institutions represent another significant audience for newspapers, with certain publications distributing millions of copies directly to these entities [9] Group 3: Unique Value Proposition - Print newspapers offer a reading experience that is perceived as more comfortable and less straining than digital devices, particularly for older adults who may have vision impairments [6][8][9] - The deep reading experience provided by print newspapers enhances comprehension and focus, making them a valuable resource for in-depth information [14][13] Group 4: Business Model and Future Outlook - The business model of newspapers includes news gathering, advertising, event planning, and cultural creativity, creating a closed-loop industry chain [18][15] - Despite the challenges posed by the internet, print newspapers continue to hold a significant market position due to their unique readership, irreplaceable reading experience, and stable business model [19][17]