记者丨张飞涛 实习生丨于飞 出品丨鳌头财经 曾经的中国"数字出版第一股"，如今却深陷亏损之中。 今年第三季度，中文在线亏损2.94亿元，以至于前三季度亏损额高达5.2亿元。自2015年上市以来，中文在线就多次亏损，累计亏损额超过28亿元。并且， 过去数年中文在线也多次跟热门"风口"例如二次元、元宇宙、AIGC等热门概念沾边，股价也闻风而动，但题材炒作如同"昙花一现"，公司业绩始终在亏 损泥沼中。 另外，腾讯旗下深圳利通、阅文集团等股东、以及公司高管纷纷减持，也为中文在线蒙上了一层阴影。 短剧平台FlareFlow高额成本拖累利润 根据中文在线三季度报告数据，前三季度的营业收入为10.11亿元，同比增长25.12%，归母净利润为-5.2亿元，同比增长-176.64%。第三季度的数据，第三 季度的营业收入为4.55亿元，同比增长31.43%，归母净利润为-2.94亿元，同比大减673.14%。 净利润巨亏，中文在线并没有给予较长篇幅的解释，仅在变动原因中标注前三季度净利润较去年同期大幅减少的原因是本期海外业务经营亏损增加所致。 | | 本报告期 | 本报告期比上年同期 | 年初至报告期末 | 年初至报告期末比上 ...

Core Insights - The forum focused on the transformative trends in media, emphasizing the need for adaptation in narrative, channels, and technology [1] Group 1: Narrative Transformation - The first transformation discussed is the shift from "grand narratives" to "emotional resonance," exemplified by a report titled "I Cried in the Great Hall of the People," which tells a relatable story of a representative dedicated to elderly care for 16 years, reflecting the theme of Chinese democracy [1] Group 2: Channel Reconstruction - The second transformation involves the reconstruction of communication channels, where traditional metrics like circulation and channel coverage are replaced by engagement metrics such as likes, completion rates, and algorithm recommendations. The rise of social media and short videos has created new opportunities for international communication, breaking language barriers [1][2] Group 3: Technological Disruption - The third transformation is the disruptive impact of technology, with the introduction of AI anchors in 2023 significantly enhancing the efficiency of multilingual news production. Large language models like DeepSeek have become standard tools in daily operations, and a media big data platform has been established to provide precise content recommendations and risk alerts [2] Group 4: Challenges and Vigilance - Despite the opportunities presented by social media, challenges such as algorithm suppression and threats to personal safety have been encountered. The company remains vigilant about the risks associated with AI technology while emphasizing the importance of truth, professionalism, and mission [2][3]