来源：中国经济网 "不同文化之间的碰撞，必然会让跨国合作项目产生摩擦，这就需要双方在合作中不断磨合。" "海纳计 划"青年导演代表傅尚斌结合自身创作和实践经验表示，"从内容层面来看，这类创作本就没有标准答 案，内容更多元，观众更受益，不同的故事也能展现出同样的共情点。" 人才回流加速："海纳计划"全周期体系已吸引70位海归导演 "海纳国际青年导演发展计划"（下称"海纳计划"）是由虎鲸文娱集团发起的人才扶持计划。从设立校园 奖学金到海外宣讲，从深植本土到链接全球，"海纳计划"正构建一条贯穿"学习—实践—创作—落地"的 全周期成长路径。据悉，自启动以来，"海纳计划"已吸引70位具有海外背景的华语青年导演正式加入。 郑非认为，文化的差异造就截然不同的创作概念与发展思路。"海纳计划"聚焦有海外教育背景的青年导 演，切口小、专注力极强，这样的模式在全球范围内都十分少见。"'海纳计划'走在了行业的前端，它 极具远见，必将为中国电影产业的未来输送源源不断的新鲜血液，注入全新的创作视角。" 数据显示，2025年中国电影市场年度票房、观影人数都超去年同期，呈现稳中有进的增长态势。从《哪 吒之魔童闹海》到《南京照相馆》《浪浪山小 ...

December 5, 2025 08:30 AM GMT Damai Entertainment Holdings Ltd | Asia Pacific M Idea Damai's IP Expansion: A Gateway to China's Market Strong 1H26 results and our AlphaWise survey support sustained Sanrio momentum and growing Alifish IP diversification. With China's sub-licensing market expanding and Damai well positioned as a key gateway for global IPs, we see a solid multiyear growth outlook. Maintain HK$1.20 PT and OW. M F1H26 recap: F1H26 total revenue of Rmb4.0bn (+33% yoy, 11% hoh) and GAAP net profit ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 大麥娛樂控股有限公司 呈交日期: 2025年12月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01060 | 說明 | - | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 38,000,000,000 | HKD | | 0.25 HKD | | 9,500,000,000 | | 增加 / 減少 (-) | | | | | | HKD | | | | 本月底結存 | | | 38,000,000,000 | HKD | | 0.25 HKD | | 9,500,000,000 | 本月底法定/註冊股本總額： HK ...

上映的首个周末票房高达12.55亿元，《疯狂动物城2》瞬间带热了整个电影市场。 据灯塔专业版数据分析师陈晋介绍，《疯狂动物城2》上映首周六单日票房突破7.38亿元，成为中国影 史进口片单日票房冠军，同时进入中国影史单日票房榜前九名，也是唯一单日票房破7亿元的非春节档 影片；另外影片首周六单日观影人数超1875万人次，成为中国影史动画电影单日观影人数冠军，也是中 国影史单日观影人数亚军，仅次于《唐人街探案3》。 记者注意到，截止到12月1日下午16时许，《疯狂动物城2》的累计票房已达到19.78亿元，暂时位列中 国影史引进片票房榜第6位，距离2018年上映的《复仇者联盟3：无限战争》仅剩约4亿元差距。 "最近这些年的贺岁档（11月下旬至12月31日）通常是比较慢热的，直到最后一天的跨年日才会出现爆 发，然后就结束了。"一位影院管理公司的人士说，"但今年不一样的是，《疯狂动物城2》在贺岁档一 开始就点燃了观影热潮，虽然之后一段时间这股热度可能会减退，但比往年来说还是比较高的。" "给《疯狂动物城2》的排片是能稳定吸引观众的。"北京市朝阳区一家影院的工作人员说。 "《疯狂动物城2》拥有庞大的IP粉丝基础，同时影片口 ...

每经AI快讯，12月1日，截至发稿，猫眼娱乐(01896.HK)涨4.49%、大麦娱乐(01060.HK)涨3.37%、欢喜 传媒(01030.HK)涨1.56%。消息面上，据报道，11月30日《疯狂动物城2》单日票房突破7亿，超过《复 仇者联盟4：终局之战》，成为中国内地影史进口片单日票房冠军。 ...

Summary of the Conference Call Transcript Company Overview - **Company**: Damai Entertainment (大麦娱乐) - **Industry**: Entertainment and Ticketing Key Points and Arguments Financial Performance - **Strong Revenue Growth**: For the first half of FY2026, the company reported a revenue increase of 33% year-over-year, reaching 4,047 million RMB, and an adjusted net profit increase of 29% to 548 million RMB [1][18] - **IP Business Growth**: The IP commercialization segment saw a significant revenue increase of 105% year-over-year, amounting to 1,160 million RMB [3][18] - **Film Business Decline**: The film segment experienced a revenue decline of 15% to 1,064 million RMB due to a weak overall film market and a strategic shift towards selective content investment [3][18] Strategic Direction - **Diversification Strategy**: The company is transitioning from a film-centric model to a diversified entertainment platform, focusing on deepening its IP ecosystem and expanding international operations [1][2] - **Geopolitical Resilience**: Management indicated that current geopolitical tensions between China and Japan have not adversely affected operational performance or strategic direction, despite Japan IP accounting for approximately 50% of IP revenue [2][21] Market Position and Competitive Landscape - **Ticketing Services**: The company maintains a leading position in the domestic ticketing market through its platform, Tao Piao Piao, which held over 2,500 large-scale events without safety incidents during the reporting period [3][8] - **International Expansion**: Plans for international growth include entering new content categories such as sports events and tourism performances, leveraging ticketing expertise and synergies within the Alibaba ecosystem [8][21] Financial Forecasts and Valuation - **Earnings Adjustments**: Adjusted net profit forecasts for FY2026 and FY2027 were increased by 8% and decreased by 3%, respectively, reflecting strong IP business performance and challenges in traditional film operations [8][19] - **Target Price**: The target price remains at 1.20 HKD, based on a valuation framework that corresponds to 4x FY2026 expected sales and 28x FY2026 expected earnings [21][22] Risks and Considerations - **Market Recovery Risks**: Potential risks include slower-than-expected recovery in the market, which could negatively impact revenue and market sentiment [21] - **Competitive Threats**: Increased competition from Cat Eye Entertainment could affect Damai's revenue and profitability, although no signs of intensified competition have been observed to date [21] Additional Important Information - **Stock Performance**: The stock price has seen a year-to-date increase of 79%, but a decline of 12.4% over the past three months [10] - **Market Capitalization**: The total market capitalization is approximately 3,263 million USD [11] - **Analyst Ratings**: The current rating for Damai Entertainment is "Overweight" with a target price of 1.20 HKD [21][22] This summary encapsulates the essential insights from the conference call, highlighting the company's financial performance, strategic direction, market position, and associated risks.

Damai Entertainment Holdings Limited 大麥娛樂控股有限公司 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示 概 不 就 因 本 公 告 全 部 或任何部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：1060） 修訂持續關連交易之年度上限 修訂持續關連交易之年度上限 茲 提 述 二 零 二 四 年 公 告，內 容 有 關（其 中 包 括）委 託 製 作 合 作 框 架 協 議 項 下 擬 進行之現有持續關連交易。 根據董事現時可獲得之資料，董事會預期原年度上限將不足以滿足本集團截 至 二 零 二 六 年 三 月 三 十 一 日 止 當 前 財 政 年 度 之 業 務 需 要。因 此，於 二 零 二 五 年 十 一 月 二 十 八 日，董 事 會 擬 將 當 前 財 政 年 度 之 原 年 度 上 限 由 人 民 幣100百 萬元修訂為人民幣200百萬元。 上市規則之涵義 於 本 公 告 日，優 酷 信 息 ...

Core Viewpoint - The company reported strong financial performance for FY26H1, with revenue of 4.05 billion, a year-on-year increase of 33%, and a net profit of 520 million, up 54% [1] Financial Performance - Revenue for FY26H1 reached 4.05 billion, reflecting a 33% year-on-year growth - Net profit attributable to shareholders was 520 million, marking a 54% increase - Adjusted EBITDA was 550 million, with a 14% year-on-year growth after excluding a 160 million financial asset impairment reversal from FY25H1 [1] Business Segments IP Derivative Business - Revenue from IP derivative business doubled year-on-year to 1.16 billion, a 105% increase - Segment performance (gross profit minus allocated sales expenses) was 230 million, up 44% - The decline in profit margin was due to a one-time impact from the closure of Jinli Naji [1] - Core business, Alibaba Fish, saw revenue growth exceeding 100% and profits nearly doubling [1] Performance and Events - Revenue from the core domestic concert segment grew 14.5% to 1.34 billion - Segment performance was 750 million, a 4.7% increase - The decline in profit margin may be attributed to early international expansion and lower margins in content investment [1] - Ticketing for concerts faced supply constraints, but demand remained strong with a 17% increase in ticket buyers [1] Film and Television Content - Film revenue for FY26H1 was 1.06 billion, down 15%, with segment performance at 95 million, a 22% decline - The company adjusted its film investment strategy to focus on lower-risk, high-quality content [1] - Revenue from series production was 480 million, with a profit of 40 million, indicating a turnaround [1] Management Efficiency - Management efficiency improved with a decrease in management expense ratio to 16.5%, down 3.1 percentage points year-on-year - Investment losses were reduced to 6.73 million from 26.86 million in FY25H1, alongside a 150 million investment impairment [2] Future Outlook - The company raised its adjusted net profit forecasts for FY26-28 to 1.043 billion, 1.392 billion, and 1.629 billion respectively, up from previous estimates [2] - The company maintains a positive outlook on the high-growth live entertainment sector and continues to hold a buy rating [2]

Core Viewpoint - The company maintains a "buy" rating for Damai Entertainment (01060) due to high growth in its IP business and steady expansion in its performance business, indicating strong long-term value in the live entertainment sector [1] Performance Summary - For FY26H1 (ending September 30, 2025), the company reported revenue of 4.05 billion, a year-on-year increase of 33%; net profit attributable to shareholders was 520 million, up 54% [2] - Adjusted EBITDA was 550 million, reflecting a 14% year-on-year growth after excluding a one-time financial asset impairment reversal of 160 million from FY25H1 [2] IP Business Performance - Revenue from IP derivative business doubled year-on-year, with ToB licensing business showing significant growth and ToC starting to ramp up. FY26H1 revenue reached 1.16 billion, a 105% increase, with segment performance (gross profit minus allocated sales expenses) at 230 million, up 44% [3] - Profit margin decline was influenced by a one-time impact from the closure of Jinli Naku, while core Alibaba Fish business revenue grew over 100% with profits nearly doubling [3] - ToB licensing includes high-quality IPs such as Sanrio family, Gigi Kawa, and Pokémon, with new additions from Universal Pictures. Alibaba Fish plans to increase team investment and expand downstream partnerships [3] - Retail brand operations have opened several domestic flagship stores, with future plans for more experiential formats like restaurants and small indoor amusement parks [3] Performance Business - Core domestic concert categories showed steady growth, with revenue of 1.34 billion in FY26H1, a 14.5% increase, and segment performance at 750 million, up 4.7% [3] - Profit margin decline may be due to early internationalization efforts and lower margins in performance content investment [3] - Ticketing for core concert categories faced supply constraints, but overall GMV on the Damai platform remained stable, with a 17% increase in ticket buyers year-on-year. The company provided one-stop solutions for over 2,500 performances, a 19% increase [3] - Revenue from live entertainment content grew by 50%, with participation in major concerts and events, extending upstream in the industry [3] - The company is also expanding internationally, with increasing performances by overseas artists in China and growing demand from domestic audiences for cross-border events, starting with Southeast Asia and Japan/Korea [3] Film and Television Content Business - The film segment reported revenue of 1.06 billion in FY26H1, with segment performance at 95 million. The company is adjusting its film investment strategy to focus on lower-risk, high-quality content, with the summer release "Chasing the Wind" exceeding return expectations [4] - The series production segment generated revenue of 480 million, with profits of 40 million [4] Management Efficiency - Management efficiency has improved, with a notable reduction in investment risks from the previous year. The management expense ratio decreased to 16.5% in FY26H1, down 3.1 percentage points year-on-year [5]

Core Viewpoint - The company maintains a "buy" rating for Damai Entertainment (01060) due to high growth in its IP business and steady expansion in its performance business, indicating strong long-term value in the live entertainment sector [1] Performance Summary - For FY26H1 (ending September 30, 2025), the company reported revenue of 4.05 billion, a year-on-year increase of 33%; net profit attributable to shareholders was 520 million, up 54% [2] - Adjusted EBITDA was 550 million, reflecting a 14% year-on-year growth after excluding a 160 million financial asset impairment reversal from FY25H1 [2] IP Business Performance - Revenue from IP derivative business doubled year-on-year, with ToB licensing business showing significant growth and ToC rapidly starting [3] - FY26H1 revenue for IP business reached 1.16 billion, a 105% increase, with segment performance (gross profit minus allocated sales expenses) at 230 million, up 44% [3] - Profit margin decline was influenced by a one-time impact from the closure of Jinli Naku, while core Alibaba Fish business revenue growth exceeded 100% with profits nearly doubling [3] - The company is expanding its team and partnerships in the ToB licensing sector, with notable IPs like Sanrio, Gigi Kawa, and Pokémon [3] - Retail brand operations are being developed with multiple brand flagship stores opened, and plans for more experiential formats like restaurants and indoor parks [3] Performance Business Overview - Core domestic concert categories are steadily increasing, with expansion into international markets and upstream investments [3] - FY26H1 revenue from performances was 1.34 billion, a 14.5% increase, with segment performance at 750 million, up 4.7% [3] - The decline in profit margin may be due to early internationalization efforts and lower margins in performance content investments [3] - Ticketing for core concert categories faced supply constraints, but overall demand remains strong, with a 17% increase in ticket buyers [3] - The company provided services for over 2,500 performances in FY26H1, a 19% year-on-year increase [3] - Revenue from live entertainment content grew by 50%, with participation in major concerts and events [3] - The company is actively pursuing international opportunities, with plans to invite top global artists to perform in Asia [3] Film and Television Content Business - The film segment reported revenue of 1.06 billion in FY26H1, with segment performance at 95 million; the company is adjusting its investment strategy to focus on lower-risk, high-quality films [4] - Revenue from series production was 480 million, with a profit of 40 million [4] Management Efficiency - Management efficiency has improved, with a notable reduction in investment risks from the previous year [5] - Management expense ratio decreased to 16.5% in FY26H1, down 3.1 percentage points year-on-year [5]