Core Viewpoint - Wanda Film reported significant growth in net profit for the first three quarters of 2025, indicating a strong recovery in its cinema business despite a decline in revenue [1] Financial Performance - In Q3 2025, Wanda Film's revenue was 3.098 billion yuan, a year-on-year decrease of 14.63% [1] - The net profit for Q3 2025 was 173 million yuan, showing a year-on-year increase of 212.04% [1] - For the first three quarters of 2025, total revenue reached 9.787 billion yuan, a slight year-on-year decline of 0.61% [1] - The net profit for the first three quarters was 708 million yuan, reflecting a substantial year-on-year growth of 319.92% [1] Business Segment Performance - The cinema business revenue and profit showed a year-on-year increase, contributing positively to the overall financial results [1]

Core Insights - Wanda Film reported a third-quarter revenue of 3.098 billion yuan, a year-on-year decrease of 14.63%, while net profit reached 173 million yuan, an increase of 212.04% [1] - For the first three quarters, the company achieved a revenue of 9.787 billion yuan, a slight decrease of 0.61%, and a net profit of 708 million yuan, up 319.92% [1] Group 1: Business Performance - The summer box office market showed signs of recovery, with national box office revenue reaching 12.72 billion yuan, a 17.2% increase year-on-year, and total audience attendance of 340 million, up 29.8% [1] - Wanda's domestic cinemas generated box office revenue of 1.88 billion yuan, with audience attendance of 45.048 million, achieving a market share of 14.8% from July to September, reflecting a steady improvement [1] - The company has enhanced its asset quality through a strategy of optimizing its cinema operations, with single cinema output approximately three times that of non-Wanda cinemas [1] Group 2: Strategic Initiatives - The "Super Entertainment Space" strategy is gradually being implemented, with the "1+2+5" strategic framework exploring new growth avenues [2] - During the summer, the company launched themed marketing activities like the "Super Entertainment Animation Market," effectively increasing cinema efficiency and member engagement [2] - Collaborations with popular IPs and themed products have attracted younger audiences, leading to growth in both non-ticket revenue and box office performance [2] Group 3: IP Development and Market Outlook - The company has successfully launched collectible products in collaboration with young artists, enhancing its IP portfolio and providing added value to collectors [3] - The overall box office in China for 2025 is projected to reach approximately 44.5 billion yuan, surpassing the total for 2024, indicating a positive trend for the film market [3] - The film industry is transitioning from a single box office economy to a diversified consumption ecosystem, with Wanda aiming to transform cinemas into multifaceted cultural consumption spaces [3]

Core Insights - Wanda Film reported a third-quarter revenue of 3.098 billion yuan, a year-on-year decrease of 14.63%, while net profit attributable to shareholders increased by 212.04% to 173 million yuan [1] - The company achieved a box office of 1.88 billion yuan from its domestic theaters, with 45.048 million attendees, and a market share of 14.8% from July to September, showing steady improvement compared to the first half of the year [1] - The company has intensified its efforts in expanding its direct-operated theaters, enhancing overall asset quality through a process of elimination and improvement, with single theater output approximately three times that of non-Wanda theaters [1] Strategic Developments - The "Super Entertainment Space" strategy is gradually being implemented, with initial positive results from the "1+2+5" strategic upgrade exploring diverse growth opportunities [2] - During the summer season, the company launched themed marketing activities such as the "Super Entertainment Animation Market," effectively increasing cinema efficiency and member engagement through the integration of IP, scenes, and audiences [2] - The company successfully created a new "Celebration Series" themed IP derivative products during the National Day holiday, achieving good sales performance and collaborating with leading game IPs to attract younger audiences [2] Financial Performance - The company’s investment in films such as "Nanjing Photo Studio," "Lychee of Chang'an," "Strange Tales from a Chinese Studio: Lanruo Temple," and "There’s a Cloud Like You" performed well at the box office during the third quarter [1] - The dual increase in non-ticket revenue and box office conversion through IP aggregation and scene operation is strategically significant for optimizing the company's profit structure [2]

Core Viewpoint - Wanda Film reported a significant increase in net profit for the first three quarters of 2025, achieving 708 million yuan, a year-on-year growth of 319.92%, indicating a strong performance amid industry recovery [1] Group 1: Financial Performance - In Q3 2025, the net profit attributable to shareholders reached 173 million yuan, up 212.04% year-on-year [1] - The company maintained a market share of 14.8% in the domestic box office during July to September, with box office revenue of approximately 1.88 billion yuan and 45.048 million viewers [2] - The overall box office in China for Q3 was 12.712 billion yuan, a 17.2% increase from the previous year, with total viewers reaching 340 million, a 29.8% increase [2] Group 2: Strategic Initiatives - The "Super Entertainment Space" strategy is being accelerated, transitioning the company from a single viewing experience to a diversified content consumption ecosystem [4] - The company is focusing on a "1+2+5" strategic layout, which includes a core entertainment space, domestic and international market development, and five business segments: cinema, film and television series, strategic investments, trendy toys, and gaming [4] - The company is enhancing its IP operations, with a focus on its own trendy art brand "Qijing" and original trendy toy IP "MOMO&FRIENDS" in Q4 [5] Group 3: Content and Market Position - The company has a strong lineup of upcoming films, including titles across various popular genres, which is expected to drive future box office and non-box office revenue growth [3] - The company’s investment in high-quality films has proven successful, with titles like "Nanjing Photo Studio" grossing approximately 3.014 billion yuan, and "The Lychee of Chang'an" earning about 615 million yuan [2] - Analysts believe that the company’s advantages in content supply, channel resources, and operational efficiency position it well for continued growth in a recovering market [7]

万达电影股份有限公司 万达电影股份有限公司（以下简称"公司"）第七届监事会第五次会议于 2025 年 10 月 30 日在北京市朝阳区八里庄东里 1 号莱锦文化创意产业园 CN02 楼会议 室以现场与通讯相结合的表决方式召开，会议通知于 2025 年 10 月 24 日以电话、 电子邮件及书面形式发出。会议由公司监事会主席杨海先生主持，应出席监事 3 人，实际出席监事 3 人。会议的召集、召开符合《公司法》《公司章程》的相关 规定，会议合法有效。本次会议采用记名投票方式进行表决，与会监事经认真审 议，形成以下决议： 二、监事会会议审议情况 1、审议通过了《关于公司 2025 年第三季度报告的议案》 万达电影股份有限公司 第七届监事会第五次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、监事会会议召开情况 股票代码：002739 股票简称：万达电影 公告编号：2025-050 监事会 2025 年 10 月 31 日 经审核，监事会认为：董事会编制和审议的《公司 2025 年第三季度报告》 的程序符合法律、行政法规和中国证监会的规定，报告内容真 ...

万达电影股份有限公司 1、审议通过了《关于公司 2025 年第三季度报告的议案》 二、董事会会议审议情况 股票代码：002739 股票简称：万达电影 公告编号：2025-049 万达电影股份有限公司 第七届董事会第七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 万达电影股份有限公司（以下简称"公司"）第七届董事会第七次会议于 2025 年 10 月 30 日在北京市朝阳区八里庄东里 1 号莱锦文化创意产业园 CN02 楼会议 室以现场与通讯相结合的表决方式召开，会议通知于 2025 年 10 月 24 日以电话、 电子邮件及书面形式发出。会议由公司董事长陈曦女士主持，应出席董事 6 人， 实际出席董事 6 人，会议的召集、召开符合《公司法》《公司章程》的相关规定， 会议合法有效。本次会议采用记名投票方式进行表决，与会董事经认真审议，形 成以下决议： 董事会认为公司编制的《2025 年第三季度报告》真实、准确、完整地反映 了公司报告期内的经营情况，具体内容请参见同日披露于《中国证券报》《证券 时报》《证券日报》《上海证券 ...

万达电影股份有限公司 2025 年第三季度报告 证券代码：002739 证券简称：万达电影 公告编号：2025-051 万达电影股份有限公司 2025 年第三季度报告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假记载、误 导性陈述或重大遗漏。 重要内容提示： 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重 大遗漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人（会计主管人员）声明：保证季度报告中财务信息的真实、准确、 完整。 □是 否 1 万达电影股份有限公司 2025 年第三季度报告 一、主要财务数据 （一） 主要会计数据和财务指标 公司是否需追溯调整或重述以前年度会计数据 □是 否 | | 本报告期 | 本报告期比上年同 | 年初至报告期末 | 年初至报告期末 | | --- | --- | --- | --- | --- | | | | 期增减 | | 比上年同期增减 | | 营业收入（元） | 3,097,582,331.45 | -14.63% | 9,786,727,500.69 | ...

Core Viewpoint - The film and cinema sector experienced a slight decline of 0.07% on October 29, with "Happiness Blue Sea" leading the drop, while the overall market indices showed positive movements with the Shanghai Composite Index rising by 0.7% and the Shenzhen Component Index increasing by 1.95% [1][2]. Group 1: Market Performance - The film and cinema sector's decline was primarily driven by "Happiness Blue Sea," which fell by 8.62% to a closing price of 22.15 [2]. - Other notable performers included "China Film" with a 1.90% increase, closing at 14.51, and "Jiecheng Co." which rose by 1.61% to 6.33 [1][2]. - The total trading volume for the sector was significant, with "Happiness Blue Sea" alone accounting for a transaction amount of 1 billion yuan [2]. Group 2: Capital Flow - The sector saw a net outflow of 149 million yuan from institutional investors, while retail investors contributed a net inflow of 206 million yuan [2][3]. - "Wanda Film" experienced a significant net outflow of 43.51 million yuan from institutional investors, indicating a lack of confidence among larger investors [3]. - In contrast, "Jiecheng Co." had a net inflow of 29.82 million yuan from institutional investors, suggesting a positive sentiment towards this stock [3].

Core Viewpoint - The media sector has shown a notable performance this week, ranking 7th among all sectors in terms of price changes, with a 4.20% increase, outperforming the CSI 300 but underperforming the ChiNext Index [3]. Group 1: Industry Performance - The media industry increased by 4.20% during the week of October 20-24, 2023, outperforming the CSI 300's 3.24% but underperforming the ChiNext Index's 8.05% [3]. - The top gainers in the media sector included Rongxin Culture, Youzu Interactive, Haikan Co., and Jiayun Technology, while the biggest losers were Vision China, Tianxiaxiu, Xinghui Entertainment, and Gehua Cable [3]. Group 2: Key Events and Innovations - Significant events include the launch of OpenAI and Oracle's $15 billion Lighthouse Park, expected to be completed by 2028 [3]. - The introduction of the MoGA long video generation model by the University of Science and Technology of China and ByteDance, capable of producing high-quality videos with a resolution of 480p at 24 frames per second [3]. - ByteDance's Seed team has launched the 3D generation model Seed3D1.0, which can create high-quality simulation-level 3D models from a single image [3]. - Bilibili's "Escape from Duckkov" achieved over one million sales in its first week [3]. Group 3: Investment Recommendations - The company maintains a positive outlook on the gaming sector, IP toys, and the potential for policy shifts in the film industry, recommending stocks such as Giant Network, Kaiying Network, and Gigabit [5]. - For IP toys, Pop Mart is highlighted as a key recommendation [5]. - The media sector is advised to monitor potential economic recovery, with a focus on companies like Focus Media [5]. - The shift in content policies and AI application opportunities are emphasized, recommending platforms like Mango TV and Bilibili, as well as content providers such as Light Media and Huace Film [5].

Core Viewpoint - Wanda Film showcased its achievements in IP incubation and licensing at the 10th China International Copyright Expo, emphasizing its comprehensive capabilities in IP aggregation, product development, and commercialization [1][3]. Group 1: IP Resources and Products - Wanda Film's exhibition featured a variety of well-known IP resources, including the hit animated film "Ne Zha," the trendy illustration IP "Dai Meng Ting," and popular games like "Love and Deep Space" and "Light and Night," highlighting the company's extensive layout in IP licensing and derivative development [1]. - The exhibition attracted a diverse audience with a wide range of licensed derivative products, including themed popcorn buckets and practical decorative items like makeup mirrors and photo frames [1]. Group 2: Innovative Product Development - The company demonstrated its foresight in potential IPs, such as "Ne Zha" and "Wang Wang Mountain Little Monster," facilitating the rapid market introduction of popular products and creating synergy with key release periods, effectively driving group business growth [3]. - In-depth development of IPs like "Dai Meng Ting" and "Love and Deep Space" showcased innovative product design that transcends mere replication, integrating functionality with the core of the IP to meet the diverse needs of different fan groups [3]. Group 3: Original Art Brand and Digital Innovation - Wanda Film launched the "Big Dreamer" series under its original trendy art brand "Qi Jing," created in collaboration with contemporary artist Chen Jianzhou, featuring blind box figurines and prints, each limited to 300 editions with unique numbering [5]. - The Rtime link, introduced by Ying Shiguang, employs a dual-track model of "physical trendy art products + digital certification," providing collectors with added value and showcasing a new paradigm for copyright digital innovation and dual anti-counterfeiting measures [5]. - The exhibition illustrated Wanda Film's dual-driven approach of "licensing + original" and its commitment to digital innovation, effectively demonstrating its comprehensive strength in IP development and copyright value extraction [5].