COL(SZ:300364)2022-12-06 08:36Group 1: Company Strategy and Investments - The company aims to fully enter the "ACG" (Animation, Comic, Game) culture and establish a new ecosystem in China's "二次元" (two-dimensional) market by investing 250 million CNY for a 13.51% stake in A站 (A Station) and 20% in G站 (G Station) [3][4] - The company has a leading position in 二次元 IP content sources and plans to leverage its community, 汤圆创作, to incubate high-quality 二次元 IP [4][8] - The 二次元 market is projected to reach an annual output value of 500 billion CNY in the future, with the current market size at 100 billion CNY in 2016 [7][8] Group 2: User Demographics and Market Potential - The core 二次元 user base is approximately 59.39 million, while the broader user base is around 150 million [7] - The demographic of 二次元 users is maturing, with 58% being born after 1995 and 21% between 1990-1995, indicating a strong consumer capability and willingness [7] - The 二次元 culture is increasingly appealing to younger generations, with a significant market share of 500 billion CNY [6][12] Group 3: Partnerships and Ecosystem Development - The collaboration with A站 and G站 aims to create a robust 二次元 ecosystem, enhancing content distribution and monetization capabilities [9][11] - The partnership is expected to accelerate the creation, dissemination, and monetization of super 二次元 IP, benefiting all three companies involved [11][12] - The company plans to integrate its web literature IP and games with A站 and G站 for joint development and promotion of 二次元 mobile games [11][12] Group 4: Financial Performance and Projections - The company successfully raised 2 billion CNY in a private placement in August 2016, with all funds directed towards IP-based platforms and online education [4][10] - Morning Science (晨之科) reported a net profit of 3.769 million CNY for the first eight months of 2016, with a commitment to achieve a net profit of no less than 90 million CNY for the full year [10] - The financial growth is attributed to the strong performance of the GULUGULU community and the release of several successful 二次元 games [10]