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9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: | 貓眼娛樂 | | | | | | 呈交日期: | 2025年10月8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) | 01896 | 說明 | | | | 本月底法定/註冊股本總額： USD 50,000 第 1 頁 共 10 頁 v 1.1.1 FF301 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 2,500,000,000 USD 0.00002 USD 50,000 增加 / 減少 (-) 0 USD 0 本月底結存 2,500,000,000 USD 0.00002 USD 50,000 FF301 II. 已發行股份及/或庫 ...

Core Insights - The total box office for the 2025 National Day film season has surpassed 1 billion yuan as of October 4, 2023, with several films leading the box office rankings [1] - The diversity of film genres this year caters to various audience preferences, with a total of eight days in the holiday period providing an extended window for box office growth [1][3] - The trend of series and IP films has become mainstream, indicating a maturation and industrialization of the Chinese film industry [3] Film Genre Diversity - The National Day film season features a wide range of genres including fantasy, action, war, drama, animation, history, comedy, and crime, appealing to different age groups and audience preferences [3] - Notable films include "The Volunteer Army: Blood and Peace," which is the final chapter of a trilogy, and "Assassination of the Novelist 2," both of which have strong box office potential [3][4] Box Office Performance and Audience Engagement - The film "Assassination of the Novelist 2" has the highest IMAX screening count, indicating strong audience engagement, particularly in lower-tier cities where it has a significant box office share [3] - Other films like "The Proof of Bi Zhengming" and "Deafening" also show strong potential due to their crime elements and star-studded casts [4] Involvement of Listed Companies - Several listed companies are involved in the production of films this year, including Huace Film & TV, Maoyan Entertainment, and China Film Group, highlighting the industry's investment landscape [6] - The National Day film season is crucial for the overall box office performance of the year, especially with the overlap of the Mid-Autumn Festival, providing an additional day for box office growth [6] Government Support and Market Trends - Various regions have introduced film incentive policies to stimulate the industry, focusing on script development, distribution, technical innovation, and talent cultivation [6] - The combination of diverse film content, government support, and promotional activities such as movie consumption vouchers is expected to attract more audiences to theaters [7]

Core Insights - The article discusses a series of initiatives launched by multiple departments to promote the integration of the film and dining industries during the 2025 National Day and Mid-Autumn Festival holidays, enhancing the "movie + food" consumption linkage [1][3]. Group 1: Initiatives and Collaborations - Various regions including Beijing, Jiangsu, Zhejiang, Fujian, Henan, Hubei, Sichuan, and Yunnan are collaborating to leverage resources effectively, boosting the development of cultural tourism and dining sectors [1]. - A "Follow the Movie to Taste Food" ticket root map was launched by China UnionPay and Maoyan Entertainment, officially available nationwide from September 30, 2025, aimed at enriching cultural consumption experiences during the holidays [1][3]. Group 2: Consumer Benefits - Users purchasing movie tickets through the Maoyan App can access dining discounts near cinemas, providing a dual benefit of "viewing + dining" [3]. - The ticket root map platform aggregates geographical data from 12,000 cinemas nationwide, enabling precise matching and targeted distribution of dining discounts [3]. Group 3: Regional Promotions - Zhejiang province has introduced the "Follow the Movie to Tour Zhejiang and Taste Food" initiative, offering consumer subsidies that effectively stimulate holiday market consumption [9]. - In Lankai, visitors can receive discounts by presenting recent electronic movie ticket stubs, enhancing the ticket root economy [13]. Group 4: Events and Activities - An autumn party at Taihu has attracted significant crowds, directly boosting consumption in surrounding dining, retail, and accommodation businesses [15]. - Longxing County's cultural tourism department is promoting ticket root economy benefits for fans attending the "Zhe BA" events during the National Day holiday, offering free entry to 19 scenic spots and discounts at 39 hotels [17][18].

Group 1 - The 2025 National Day film market features 10 new films, with a cumulative box office exceeding 120 million yuan as of September 30 [1][5] - The top three films by box office are "Deafening," "The Volunteer Army: Blood and Peace," and "Assassination Novelist 2," with respective box office figures of 31.31 million, 28.42 million, and 23.26 million yuan [1][5] - The predicted box office for the first day of the National Day holiday is 341 million yuan, with "The Volunteer Army: Blood and Peace," "Assassination Novelist 2," and "Life of Waves" leading the forecast [5] Group 2 - "Deafening," set to release on October 4, is the first domestic film focusing on the deaf community and involves a moral and ethical trial related to a fraud case [7] - "The Volunteer Army: Blood and Peace," released on September 30, is the concluding chapter of a trilogy that depicts the Chinese Volunteer Army's operations during the Korean War [8] - "Assassination Novelist 2," scheduled for October 1, follows a novelist facing a crisis and ultimately finding redemption [8] Group 3 - The National Day film lineup includes a diverse range of genres such as drama, war, comedy, family, fantasy, action, crime, animation, and history [9] - The previous two films in "The Volunteer Army" trilogy have collectively grossed over 2 billion yuan, while "Assassination Novelist" had over 1 billion yuan in box office from its first installment [9] Group 4 - Several listed companies are involved in the production of these films, including China Film (600977.SH), Maoyan Entertainment (01896.HK), and Hengdian Film (603103.SH) for "Deafening" [10] - "The Volunteer Army: Blood and Peace" is produced by China Film and involves other companies like Bona Film (001330.SZ) and Huayi Brothers (300027.SZ) [10] - "Assassination Novelist 2" includes production contributions from Huace Film (300133.SZ) and Maoyan Entertainment [10] Group 5 - Companies such as China Film, Bona Film, and Wanda Film have confirmed their participation in the National Day film lineup [11][12] - Light Media (300251.SZ) is involved in the animated film "The First Part of the Starry Sky of the Three Kingdoms," set to release on October 1, 2025 [13] - The National Day holiday is considered a crucial period for box office performance, especially with the added day from the Mid-Autumn Festival, which may enhance the long-tail effect of new releases [13]

Core Insights - The 2025 National Day film market is showing strong pre-sale performance, with total pre-sale box office exceeding 1 billion yuan as of September 29, 2025 [2] - The diversity in film genres and themes is notable, catering to various audience preferences, including high-budget blockbusters and comedies [2][3] - Listed companies are playing a significant role in this year's National Day film lineup, with major titles expected to perform well [4][5] Group 1: Film Market Performance - The pre-sale box office for the National Day films has surpassed 1 billion yuan, with top films including "The Sound of Thunder," "Assassination of the Novelist 2," and "The Volunteer Army: Blood and Peace" [2] - The film industry is experiencing a resurgence in consumer interest, driven by strong summer box office results, which are expected to carry over into the National Day period [6] - The total box office for the year is approaching 42 billion yuan, with projections for the National Day box office to exceed 2 billion yuan [6] Group 2: Industry Trends - The trend of sequels, series, and IP-based films is becoming mainstream, with films like "The Volunteer Army: Blood and Peace" and "Assassination of the Novelist 2" exemplifying this shift [3][5] - Companies are increasingly focusing on cross-industry collaborations based on IP, exploring new consumption models and expanding the influence of films [7] - The development of related IP products and experiences is being prioritized, with companies aiming to enhance audience engagement beyond the cinema [7]

Core Insights - The 2025 National Day holiday film market is showing strong pre-sale performance with over 68 million yuan in pre-sale box office as of September 28, 2023, with nine new films participating [1] - The diversity of film genres, including fantasy, action, war, and drama, caters to various audience preferences, enhancing the potential for box office growth during the extended eight-day holiday period [1][4] - The presence of listed companies in film production and local government incentives are stimulating industry vitality and investment [1][4] Film Performance - The crime film "Thunderous" leads the pre-sale box office, while "Assassination of the Novelist 2" emphasizes visual experience with over 700 IMAX screenings on its opening day [2] - Audience demographics show that "Volunteers: Blood and Peace" attracts a significant older audience, while "Wandering Life" appeals to younger viewers in first-tier cities [2][3] - The trend of sequels and IP development is evident, with "Volunteers: Blood and Peace" being the concluding part of a trilogy and "Assassination of the Novelist 2" as a follow-up to a successful commercial film [3] Market Trends - More than ten films are scheduled for the National Day holiday, with notable participation from listed companies such as Huace Film & TV and Maoyan Entertainment [3] - Analysts indicate that the pre-sale performance reflects a stable market heat, with a focus on film diversity and content depth, suggesting a positive outlook for box office performance [3] - Various regions have introduced film incentive policies to support script development, distribution, and talent cultivation, further enhancing industry investment and innovation [4]

Core Insights - The total box office for the "2025 National Day Holiday New Film Box Office List" has exceeded 700 million yuan as of September 28, with the film "Thunderous" leading with a pre-sale box office of 206.6 million yuan [1] - The diversity in film genres and overall quality remains strong, catering to various audience preferences [1] - The National Day holiday box office is expected to reach 2.4 billion yuan, supported by historical narrative themes and an extended consumption window due to the holiday [1] Film Performance - Eleven new films are scheduled for release during the National Day and Mid-Autumn Festival, with "Thunderous," "Assassination of the Novelist 2," and "The Volunteer Army: Blood and Peace" competing for the top box office spot [2] - "Thunderous" has eight production companies involved, including three listed companies, while "Assassination of the Novelist 2" has five production companies, including three listed ones [2] - The trend of sequels, series, and IP-based films is prominent this year, indicating a maturation and industrialization of the Chinese film industry [2] Market Dynamics - The current market is characterized by content supply driving box office elasticity, with a stable daily average box office expected around 300 million yuan, consistent with last year's performance [2]

Box Office Performance - The film "731" has surpassed 1.3 billion yuan in box office revenue, significantly boosting the traditionally slow September movie market and extending this viewing enthusiasm into the upcoming National Day holiday [2] - As of September 25, 2025, the total pre-sale box office for new films during the National Day holiday reached 15.75 million yuan, with "Assassination of the Novelist 2" leading the pre-sale box office rankings [2] Market Trends - September is typically a slow month for the film market, but this year, driven by "731," the monthly box office has exceeded 2.3 billion yuan, far surpassing the same period last year [2] - The upcoming National Day holiday features a diverse range of film genres, including fantasy, action, war, drama, animation, history, comedy, and crime, catering to various audience preferences [3] Film Analysis - "Assassination of the Novelist 2" is currently leading in pre-sales, with a strong emphasis on visual and auditory experiences, and has the highest number of IMAX screenings among all films [3] - The film's pre-sale success indicates sustained interest based on its predecessor's IP, and if it receives positive reviews post-release, its performance during the National Day holiday is expected to be strong [3][4] Audience Demographics - "Assassination of the Novelist 2" has a significant market share in lower-tier cities, with 22.7% of its box office coming from these areas [3] - "The Volunteer Army: Blood and Peace" has a notable audience demographic, with nearly 40% of its pre-sale viewers aged 40 and above, highlighting its appeal to family audiences [4] Industry Impact - The anticipation for the National Day holiday has led to a surge in several film stocks, with notable increases in share prices for companies like Bona Film Group and Light Media [4] - The trend of film sequels and IP series is becoming mainstream, with several films in the National Day lineup being sequels, indicating a shift towards a more mature and industrialized film industry in China [6][7] Box Office Variability - Despite the prevalence of sequels, there is a noticeable polarization in box office performance, with some films exceeding expectations while others fall short [8][9] - The ultimate success of a film is influenced by its quality and audience reception, alongside promotional efforts and market trends [9]

Group 1 - The 2025 National Day film season will feature 13 new films, including various genres such as historical, fantasy, animation, and more, catering to different age groups [1][2] - Popular IP sequels like "The Volunteer Army: Blood and Peace," "Assassination Novelist 2," and "Panda Plan 2" are generating significant audience interest, with respective "want to watch" numbers reaching 348,000, 232,000, and 154,000 [1][2] - The 2024 National Day box office reached 2.104 billion yuan, with 52.09 million viewers, and domestic films accounted for 95.87% of the total box office, indicating a positive market outlook for the 2025 season [2] Group 2 - Listed companies involved in the National Day films include China Film, Bona Film Group, Maoyan Entertainment, Wanda Film, and Hengdian Film, all of which have diversified film inventories for the second half of the year [2][3] - China Film reported nearly 90 projects in development, with around 50 being original projects, including the animated film "The Rise of the Monkey King" [3] - Bona Film Group is progressing with various film projects, including the crime suspense film "She Kills" and the historical film "Kashmir Princess," with a focus on quality-driven market transformation [3]

Core Insights - A total of 13 films have been scheduled for release during the combined National Day and Mid-Autumn Festival holiday this year, surpassing the number from the same period last year [1] - The top three films in terms of audience anticipation are "Assassination Novelist 2," "Thunderous," and "Wind, Forest, Fire, Mountain," with 200,000, 190,000, and 110,000 people respectively expressing interest [1][2] - The film "Assassination Novelist 2," a sequel to the 2021 film, has a strong production backing from five companies, including three listed firms: Zhejiang Huace Film & Television Co., Ltd., Maoyan Entertainment, and China Film Group [1] - The film "Thunderous" has eight production companies involved, including China Film and Maoyan Entertainment, and focuses on social issues related to hearing-impaired individuals [1][2] - "Wind, Forest, Fire, Mountain," also produced by eight companies, is a Hong Kong crime film that aims to capitalize on the success of a similar genre film released during the summer [2] Industry Trends - The presence of several IP sequels in this year's film lineup is expected to provide a more secure foundation for both film quality and box office performance, especially with an extended holiday period of eight days [1] - The animation film segment is represented by five domestic productions, indicating a growing trend in the animation industry, with audience expectations rising due to previous successful animated films [2] - The success of recent high-grossing social-themed films suggests a potential for "Thunderous" to become a blockbuster if it meets quality standards [1][2]