In the first half of the year, Zhangyue Technology reported total revenue of RMB 1.784 billion, marking a year-on-year increase of 16.89%. However, it also posted a net loss after non-recurring gains and losses amounting to RMB 73.8002 million. During this period, the company saw a rise in sales and administrative expenses, while R&D expenditures decreased. Zhangyue is undergoing a significant transformation, reallocating its digital reading and copyright businesses into an IP reserve to fuel the creation of short dramas. The company is pursuing a dual-track strategy for both domestic and international markets. Domestically, it is focusing on the 'Paoman' platform, while internationally, it aims to leverage the iDrama platform to replicate the industrialized model of AI-powered short dramas, with an emphasis on developing AI live-action dramas and AI animated dramas. The shift of resources towards short dramas has steered the company’s operational focus in a new direction. The explosive growth of the short drama business has not only transformed Zhangyue’s revenue structure but also reshaped its industry standing and competitive landscape.