Large Language Models (LLMs) have achieved significant progress across a wide range of natural language processing (NLP) tasks, yet their ability to understand literary texts, particularly modern Chinese poetry, remains largely unexplored. The unique literary characteristics of modern Chinese poetry necessitate a distinct form of reasoning for effective comprehension. Unlike conventional texts that convey clear information, the unique "poetic logic" of modern Chinese poetry requires a holistic reasoning approach that goes beyond superficial semantic analysis to be understood. However, current evaluation paradigms largely ignore this critical dimension. To address this gap, we propose Peony, the first benchmark specifically designed for evaluating the poetic logic of modern Chinese poetry. We define poetic logic as four tasks across three levels, namely stanza, line, and imagery, and systematically evaluate and analyze six mainstream LLMs based on Peony. We evaluate these models under both non-thinking and thinking configurations. The experimental results reveal the limitations of current LLMs in understanding the poetic logic of modern Chinese poetry and validate the effectiveness and necessity of Peony. Our data and code will be available.

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