7月29日，华策影视大宗交易成交209.12万股，成交额1478.48万元，占当日总成交额的2.61%，成交价 7.07元，较市场收盘价7.69元折价8.06%。 | 交易日期 | 证券代码 | 证券简称 | 成交价格 (元) | 成交量 (万龄/万份) (万元) | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | 2025-07-29 | 300133 | 华策影视 | 7.07 | 92.12 | 651.29 | 华泰证券股份有限 | 南京证券股份有限 | | | | | | | | 公司北京分公司 | 公司扬中江洲南路 | | | | | | | | | 证券营业部 | | 2025-07-29 | 300133 | 华策影视 | 7.07 | 29.00 | 205.03 机构专用 | | 南京证券股份有限 | | | | | | | | | 公司扬中江洲南路 | | | | | | | | | 证券营业部 | | 2025-07-29 | 300133 | 华瓷影视 | 7.07 | 29.00 ...

1. 艾罗能源(688717.SH)：公司及多名董监高因个人资金需求，计划在15个交易日后3个月内通过集中竞价或大宗交易方式减持股 份，减持数量不超过公司总股本的0.78%。 2. 奥普光电(002338.SZ)：控股股东长春光机所计划在15个交易日后90日内，以集中竞价方式减持公司股份不超过240万股，占公 司总股本的1%。 3. 铂科新材(300811.SZ)：股东铂科天成及其一致行动人合计减持1.01%股份，减持计划实施完毕，同时股东梅建军合计减持8134 股，占总股本的0.0476%。 4. 博迁新材(605376.SH)：股东新辉投资计划在15个交易日后3个月内通过大宗交易减持公司股份不超过261.6万股，占公司总股本 的1%。 5. 博盈特焊(301468.SZ)：股东前海股权基金和中原前海基金减持计划实施完成，合计减持394.48万股，占公司总股本的2.99%。 6. 测绘股份(300826.SZ)：高级管理人员刘键计划在15个交易日后3个月内通过集中竞价方式减持公司股份不超过5万股，占公司总 股本的0.03%。 13. 红宝丽(002165.SZ)：控股股东宝源投资及实际控制人芮敬功计划在15 ...

证券代码：300133 证券简称：华策影视 公告编号：2025-061 1.基本情况 信息披露义务人一 傅梅城 住所 浙江省杭州市西湖区*** 信息披露义务人二 杭州大策投资有限公司 住所 浙江省杭州市临平区*** 信息披露义务人三 傅斌星 住所 北京市朝阳区*** 一、本次减持比例达到 1%的情况 信息披露义务人四 浙江银万私募基金管理有限公司－银万全盈 31 号私募证券 投资基金（简称"银万 31 号"）、浙江银万私募基金管理 有限公司－银万全盈 32 号私募证券投资基金（简称"银万 32 号"） 住所 浙江省杭州市萧山区*** 权益变动时间 2025 年 7 月 16 日、2025 年 7 月 18 日 股票简称 华策影视 股票代码 300133 变动类型 增加□ 减少√ 一致行动人 有√ 无□ 是否为第一大股东或实际控制人 是√ 否□ 2.本次权益变动情况 股份种类 减持股数（万股） 减持比例（%） A 股 260 0.14% 合 计 260 0.14% 本次权益变动方式 通过证券交易所的集中交易 ☑ 协议转让 □ 通过证券交易所的大宗交易 □ 间接方式转让 □ 国有股行政划转或变更 □ 执行法院裁定 ...

Industry Overview - The current state of the drama market is challenging, with only a few shows like "In the Name of the Law" performing reasonably well, while others from major production companies have not made a significant impact [1][9] - The first phase of the summer season has concluded with disappointing results for major players, as many anticipated dramas failed to resonate with audiences [9] Key Productions and Performances - Tencent Video and iQIYI launched "Lychee of Chang'an" and "Lingjiang Xian" respectively, but both shows faced content controversies that hindered their success despite strong production teams [1][3] - Notable dramas such as "The Age of Forging" and "Huan Yu" also struggled, failing to meet audience expectations due to weak storytelling and character development [3][6] - The summer drama landscape is expected to become more competitive as new productions are set to debut, including "Justifiable Defense," which focuses on self-defense cases and features a strong cast [10][12] Upcoming Projects - Several new dramas are scheduled for release, including "Justifiable Defense" on July 9, which is anticipated to be a standout due to its unique theme and high-profile cast [10][12] - New productions from established companies like New Classics Media and Zhengwu Media are also on the horizon, with a variety of genres being explored [14][18] - The upcoming dramas from Noon Sunshine and Lingmeng are expected to contribute to the summer lineup, with "Cherry Amber" and "Midnight Return" respectively [14][16] Market Trends - Compared to the same period last year, the overall quality of summer dramas has declined, with no standout series capturing a wide audience [20] - The industry is looking for high-quality productions to emerge in the coming months to reverse the current downward trend [20]

证券代码：300133 证券简称：华策影视 公告编号：2025-060 浙江华策影视股份有限公司 关于部分限制性股票回购注销完成的公告 本公司及其董事会全体成员保证公告内容真实、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、本次回购注销第一类限制性股票共计 148.812 万股，约占公司当前总股本的 0.08%，涉及人数为 30 人。 （二）2024 年 4 月 23 日，公司召开第五届监事会第十一次会议，审议通过了 1 《关于公司<2024 年限制性股票激励计划（草案）>及其摘要的议案》《关于公司<2024 年限制性股票激励计划实施考核管理办法>的议案》《关于核实公司<2024 年限制性 股票激励计划激励对象名单>的议案》。 （三）2024 年 4 月 25 日至 2024 年 5 月 6 日，公司对本激励计划激励对象的姓 名和职务进行了公示。在公示期内，公司监事会未收到与本激励计划首次授予激励 对象有关的任何异议。2024 年 5 月 13 日，公司披露了《监事会关于 2024 年限制性 股票激励计划激励对象名单的公示情况说明及核查意见》。 （四）2024 年 5 月 13 日， ...

Group 1: Market Overview - In June 2025, the media sector (Shenwan Media Index) rose by 8.40%, outperforming the CSI 300 Index by 5.90 percentage points, ranking 7th among 31 industries [12][17] - The current TTM-PE for the Shenwan Media Index is 47.9x, positioned at the 87th percentile over the past five years, indicating a relatively high valuation [17] - Notable stock performances included Giant Network, Lianjian Optoelectronics, and ST Guangwang with significant gains, while Xiangyuan Cultural Tourism and Youzu Network faced declines [20] Group 2: Gaming Sector - A total of 147 domestic games and 11 imported games were approved in June, maintaining a high level of issuance, with 812 game licenses granted in the first half of 2025, a year-on-year increase of 17.9% [23] - The Chinese gaming market generated revenue of 28.1 billion yuan in May, reflecting a 10% year-on-year growth, with mobile games achieving 21.2 billion yuan in revenue, up 12% [26] - The gaming sector is expected to see upward valuation adjustments driven by new product launches, regulatory policies, and AI applications [2][4] Group 3: Film and Television Sector - The total box office in June reached 1.906 billion yuan, down 14.6% year-on-year, but showing a 9.7% month-on-month increase [50] - The top five films in June included "Mission: Impossible 8" and "Detective Conan: The Eye of the One-Horned," indicating a gradual recovery in box office performance [53] - The summer film season is critical, with over 60 films scheduled for release, and the performance of new films like "731" and "The Lychee of Chang'an" is being closely monitored [61] Group 4: AI Applications - The 2025 Global Unicorn List highlighted SpaceX, ByteDance, and OpenAI as the top three companies, with valuations of 2.6 trillion yuan and 2.2 trillion yuan respectively [77] - OpenAI launched the Deep Research API, designed for advanced analysis and deep information synthesis, indicating significant advancements in AI capabilities [78] - ByteDance introduced the VINCIE-3B image editing model and the EX-4D video generation framework, showcasing breakthroughs in AI-driven content creation [80][84]

证券代码：300133 证券简称：华策影视 公告编号：2025-059 浙江华策影视股份有限公司 1 股东 名称 是否为控 股股东或 第一大股 东及其一 致行动人 本次 质押 数量 占其所 持股份 比例 占公 司总 股本 比例 是否 为限 售股 是否 为补 充质 押 质押 起始 日 质押到 期日 质权人 质 押 用 途 大策 投资 是 2423 万股 7.44% 1.27% 否 否 2025 年 7 月 3 日 至申请 解除质 押登记 为止 南京银行 股份有限 公司杭州 分行 融 资 一、股东股份质押的基本情况 | 银万全 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 盈 32 号私募 | 3,822,8 | 0.20 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | | 证券投 | 00 | | | | | | | | | | | 资基金 | | | | | | | | | | | | 大策投 | 325,48 | 17.12 | 76,000,00 | ...

Investment Rating - The report maintains a "Buy" rating for the media industry [6][10]. Core Insights - The media industry is expected to benefit from the integration of AI applications, particularly with the launch of GPT-5 and AI glasses, which are anticipated to drive new consumption patterns and enhance content creation across various sectors [5][17]. - The report emphasizes the importance of leveraging IP (Intellectual Property) to stimulate consumer spending and highlights the potential of AI to improve operational efficiency and create innovative applications [5][16]. Summary by Sections 1. Industry Review - The media sector has shown significant performance, with a 47.3% increase over the past 12 months, outperforming the Shanghai and Shenzhen 300 indices [2][15]. - The gaming index has seen substantial growth, while the animation index has experienced a decline [15][24]. 2. Key Recommendations - The report recommends several stocks within the media sector, including Tianzhou Culture, Wanda Film, and Mango Super Media, highlighting their potential for financial recovery and growth through AI integration [6][10]. 3. AI Glasses and Applications - AI glasses are positioned as a new focus for the summer season, with companies like Xiaomi and Rokid launching new products that enhance user interaction and content consumption [5][16]. - The report discusses the potential market expansion for AI glasses as they reach a technological tipping point, with applications in daily life and creative processes [16]. 4. Upcoming Market Trends - The report anticipates a surge in AI applications across various fields, including digital marketing, education, and entertainment, driven by the release of GPT-5 and advancements in AI technology [17][18]. - The summer box office is projected to benefit from new film releases, with total box office earnings exceeding 2 billion yuan as of early July 2025 [28][31]. 5. Company Performance and Forecasts - The report provides detailed earnings forecasts for key companies, indicating a positive outlook for several firms in the media sector, with expected EPS growth in the coming years [10][18].

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [1]. Core Insights - The company's main business remains stable, with a recovery in gross margin and significant revenue growth in Q1 2025. The company reported a revenue of 1.939 billion yuan in 2024, a year-on-year decrease of 14.48%, but saw a substantial increase in Q1 2025 with a revenue of 586 million yuan, a year-on-year growth of 231.96% [4][5]. Company Overview - The latest closing price is 7.51 yuan, with a total share capital of 1.901 billion shares and a market capitalization of 14.3 billion yuan [3]. - The company has a debt-to-asset ratio of 28.0% and a price-to-earnings ratio of 57.77 [3]. Financial Performance - In 2024, the company achieved a net profit of 243 million yuan, down 36.41% year-on-year. However, the first quarter of 2025 showed a net profit of 92 million yuan, up 206.9% year-on-year [4][5]. - The company’s gross margin for 2024 was 31.07%, an increase of 2.57 percentage points, indicating a recovery trend [5]. Project Pipeline - The company has a robust project pipeline for 2024, with plans to produce multiple TV series and films, which supports stable growth for 2025 [6]. - The company has also entered the short drama market, which has been growing rapidly since 2022, and plans to expand its international market presence [7]. Revenue Projections - Revenue forecasts for 2025, 2026, and 2027 are 3 billion yuan, 3.327 billion yuan, and 3.657 billion yuan respectively, with corresponding net profits of 449 million yuan, 504 million yuan, and 565 million yuan [9][10].

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report emphasizes the potential of AI applications in video understanding and generation, particularly through the launch of Kwai Keye-VL by Kuaishou, which showcases advanced multimodal capabilities [5] - The report suggests continued investment in the gaming sector, particularly with the recent approval of numerous domestic game licenses, indicating a favorable environment for new game launches [6] - The upcoming summer season is expected to boost consumption in various IP sectors, including games, animated films, concerts, and trendy toys, with specific recommendations for companies in these areas [6] Summary by Sections Industry Data Overview - "Delta Action" ranked first in the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of June 28, 2025 [13][17] - The film "Sauce Garden Case" achieved the highest box office for the week, grossing 1.64 billion [28] Industry News Overview - AI advancements in embodied intelligence and brain-computer interfaces are highlighted, with ongoing releases in gaming and film sectors [35] - The report notes the launch of Gemini, the first model capable of running locally on robots, enhancing task adaptability and efficiency [35] Company Recommendations - For AI video applications, key recommendations include Kuaishou-W, Shanghai Film, and Tencent Holdings, with beneficiaries like Alibaba-W and Kunlun Wanwei [5] - In the gaming sector, companies such as Xindong Company, Giant Network, and Perfect World are recommended, with beneficiaries including Youyi Time and Kingsoft [6] - For animated films, Shanghai Film is highlighted, while beneficiaries include Zhongwen Online [6] - In the concert and performance sector, Fengshang Culture is recommended, with beneficiaries like Alibaba Pictures and Maoyan Entertainment [6] - The trendy toy sector recommends Blukoo and Aofei Entertainment, with beneficiaries including Pop Mart and Quantum Song [6]