Group 1 - The rapid development of China's economy has led to increased global curiosity about contemporary China, making "cultural export" timely [1] - The Ministry of Commerce, Central Propaganda Department, Ministry of Culture and Tourism, and State Administration of Radio and Television have recognized key cultural export enterprises and projects for 2025-2026, with 12 enterprises from Hangzhou leading in Zhejiang province [1] - The recognized enterprises are primarily in gaming, animation, publishing, and film, with a focus on "new three samples" of cultural export, including online literature, web dramas, and online games [1] Group 2 - Zhejiang Huace Film & TV Co., Ltd. and Hangzhou Jiuyang Cultural Media Co., Ltd. are distributing outstanding domestic TV dramas globally, with Huace's series "Where the Wind Is" gaining popularity and boosting tourism in Dali, Yunnan [2] - The gaming industry is also expanding internationally, with the upcoming release of "Black Myth: Wukong" and NetEase's self-developed game "Marvel Duel" topping the Steam sales chart on its launch day [2] - Central South Cartoon is focusing on animation exports, showcasing culturally rich "Hangzhou stories" through original animated series, having participated in overseas exhibitions for 20 years [2] Group 3 - Digital technology empowerment and rich cultural resources are key advantages for Hangzhou's cultural trade, with plans to strengthen national cultural export base construction and promote deep integration of culture and technology [3]

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report highlights the continuous innovation in AI applications across various sectors such as social media, publishing, and e-commerce, with significant advancements in AI models and their commercial viability [4][32] - The gaming sector is experiencing a surge with new game launches and IP products, indicating potential revenue growth for companies involved [5][12] - The report suggests a focus on AI applications and their commercialization, recommending specific companies for investment based on their market positioning and product offerings [4][5] Industry Data Overview - The mobile game "暴吵萌厨" ranked first in the iOS free games chart in mainland China, while "王者荣耀" topped the iOS revenue chart [12][17] - The film "水饺皇后" achieved the highest box office revenue for the week, indicating strong performance in the film sector [27] - The report notes that the A-share media sector outperformed major indices, suggesting a positive market trend [9] Industry News Summary - AI technology continues to evolve, with breakthroughs in generative AI and applications in various fields, including gaming and entertainment [32] - The report emphasizes the importance of new game releases and IP product launches as key drivers for revenue growth in the gaming sector [5][12] - The report also discusses the performance of various media products, including TV dramas and variety shows, highlighting their market share and audience engagement [28][29][30]

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Insights - The report highlights the continuous iteration of multimodal AI and the acceleration of IP industry capitalization, driven by advancements in AI applications and new consumption trends [4][5] - Major model vendors are strengthening collaborations, leading to innovations in voice models, social applications, and agents, which are expected to enhance AI application penetration and commercialization [4] - The report suggests continued investment in AI-related companies and sectors, including AI virtual companionship, AI animation/film/short dramas, AI e-commerce/advertising, and AI education [4] Industry Data Overview - The game "Brave Land" ranked first on the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of May 24, 2025 [12][16] - The film "Dumpling Queen" achieved a weekly box office of 0.51 billion, with a cumulative box office of 3.79 billion [27] - The report notes that the A-share media sector outperformed major indices in the 21st week of 2025, with the gaming sector showing strong performance [9] Industry News Summary - The report discusses the launch of the "AI Virtual Human Podcast" feature by ShengTian Network, which aims to enhance user experience in podcast creation [4][33] - The AI comic drama business of Zhongwen Online has shown significant growth, with plans to produce 300 works in 2024 [35] - Tencent Cloud has launched a new intelligent agent development platform, marking a significant upgrade in its AI infrastructure [36] Company Recommendations - Key recommendations include Tencent Holdings and Kuaishou-W for major models/agents, with Alibaba-W and Kunlun Wanwei as beneficiaries [4] - For AI virtual companionship, recommended companies include ShengTian Network and NetEase Cloud Music, with beneficiaries like Tom Cat and Shifeng Culture [4] - In the AI animation/film/short drama sector, Shanghai Film is a key recommendation, with beneficiaries including Guomai Culture and Huace Film [4]

浙江华策影视股份有限公司 2024 年年度权益分派实施公告 证券代码：300133 证券简称：华策影视 公告编号：2025-057 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。 特别提示： 1、截止本公告披露日，浙江华策影视股份有限公司（以下简称"公司"或 "本公司"）回购专用证券账户中股份数量为 26,128,600 股。公司回购专用证券 账户中的股份不享有利润分配等权利，公司以现有总股本 1,901,073,701 股扣除 回购股份 26,128,600 股后的 1,874,945,101 股为基数进行权益分派。 2、本次现金分红总额=实际参与现金分红的股本×每 10 股分红金额÷10 股 =1,874,945,101 股×0.13 元÷10 股= 24,374,286.31 元，按照公司除权前总股本（含 回购股份）计算的每 10 股派息（含税）= 24,374,286.31 元÷1,901,073,701 股*10 =0.128213 元，按照公司除权前总股本（含回购股份）计算的每股派息（含税） = 24,374,286.31 元÷1,901,073,70 ...

证券代码：300133 证券简称：华策影视 公告编号：2025-055 浙江华策影视股份有限公司 第六届董事会第一次会议决议公告 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。 一、董事会会议召开情况 浙江华策影视股份有限公司（以下简称"公司"）第六届董事会第一次会议通知 于 2025 年 5 月 15 日以通讯方式发出，于 2025 年 5 月 20 日在公司会议室以现场结 合通讯方式召开。会议应参与表决的董事 9 名，实际参与表决的董事 9 名，公司全 体高级管理人员列席了会议，符合《公司法》和《公司章程》等有关规定。 会议由董事长赵依芳女士主持，与会董事审议并通过了如下决议。 二、董事会会议审议情况 3、会议以 9 票同意，0 票反对，0 票弃权，审议通过《关于选举第六届董事会 各专门委员会成员的议案》。 1 根据《公司章程》规定，公司第六届董事会设立四个专门委员会，分别为：战 略决策委员会、提名委员会、审计委员会、薪酬与考核委员会。董事会各专门委员 会成员任期自本次会议通过之日起至第六届董事会届满之日止。经董事会审议，决 定选举下列人员组成董事会各专门委员 ...

证券代码：300133 证券简称：华策影视 公告编号：2025-056 浙江华策影视股份有限公司 聘任高级管理人员、证券事务代表的公告 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。 浙江华策影视股份有限公司（以下简称"公司"）于 2025 年 5 月 15 日召开 2024 年年度股东大会，审议通过《关于公司董事会换届选举暨提名第六届董事会非独立 董事候选人的议案》《关于公司董事会换届选举暨提名第六届董事会独立董事候选人 的议案》，选举产生了公司第六届董事会董事成员。 2025 年 5 月 20 日，公司召开了第六届董事会第一次会议审议通过了《关于选 举第六届董事会董事长的议案》、《关于选举第六届董事会联席董事长的议案》、《关 于选举第六届董事会各专门委员会成员的议案》、《关于聘任总裁的议案》、《关于聘 任财务总监的议案》、《关于聘任董事会秘书的议案》、《关于聘任证券事务代表的议 案》，公司董事会的换届选举已经完成并聘任了公司高级管理人员、证券事务代表， 现将相关情况公告如下： 一、第六届董事会及专门委员会成员组成情况 1、第六届董事会成员 公司第六届董事会由 ...

Investment Rating - The report maintains a "Buy" rating for the media industry, highlighting the potential for growth driven by AI applications and consumer spending [6][19]. Core Insights - The media industry is supported by continuous policy backing, which includes urban renewal initiatives and the exploration of AI application scenarios. This is expected to stimulate new demand and enhance business growth [5][15][16]. - The upcoming e-commerce events, such as the 618 shopping festival, are anticipated to drive significant business activity within the media sector, leveraging technology to boost consumer engagement [18][19]. - Companies in the media sector are actively innovating and exploring new business models, particularly through AI integration, which is expected to enhance operational efficiency and create new revenue streams [16][19]. Summary by Sections Industry Review - The media sector has shown varied performance, with the e-commerce index experiencing significant gains while the smart TV index lagged behind. Notable stock performances included NetEase and Xunyou Technology, which saw increases of 16.07% and 14.26%, respectively [14][25]. Policy Support - Recent policies emphasize urban renewal and digital cultural development, aiming to enhance consumer infrastructure and promote new technologies. This is expected to create new opportunities for media companies [15][16][17]. Key Recommended Stocks - The report recommends several stocks within the media sector, including Mango Super Media (300413), Yaoji Technology (002605), and Wanda Film (002739), all of which are expected to benefit from upcoming events and innovations [6][9]. Market Dynamics - The report notes that the film market is recovering, with recent box office figures indicating a weekly revenue of 2.10 billion yuan. Upcoming films are expected to further stimulate audience engagement [30][32]. - In the television sector, popular shows are driving viewership, with top-rated series achieving significant market shares [34][35]. E-commerce Trends - Major e-commerce platforms like Alibaba and JD.com are gearing up for the 618 shopping festival, with strategies in place to enhance consumer engagement and drive sales growth [26][27].

Core Viewpoint - The short drama industry is rapidly growing, attracting attention from various media companies and investors, despite being perceived as lowbrow content. The market is currently dominated by new entrants and MCN organizations, with established film and television companies cautiously exploring this segment [1][4]. Group 1: Industry Dynamics - The short drama market is experiencing significant interest, with companies like Huace Film & TV and Ningmeng Film & TV making notable strides in this area [1][5]. - Major streaming platforms such as Tencent, iQIYI, and Douyin have already invested in short dramas, indicating a competitive landscape [3]. - The regulatory environment is tightening, with new guidelines requiring platforms to register short dramas, which may impact the content and production strategies of companies [22][23]. Group 2: Company Developments - Huace Film & TV has established multiple production teams and plans to expand its workforce significantly, with five short dramas set to launch by November 2023 [5][6]. - Ningmeng Film & TV reported a revenue of 1.22 billion RMB in 2023, with a net profit of 227 million RMB, marking a year-on-year growth of 28.4% and 60.4% respectively [8][10]. - The short drama segment contributed 32.23 million RMB to Ningmeng's revenue, reflecting a growth of over 1200% [10]. Group 3: Web Literature and Short Dramas - Companies in the web literature sector, such as Zhongwen Online and Yuewen Group, are also entering the short drama market, leveraging their IP for adaptation [14][16]. - Zhongwen Online reported that its IP derivative products, including short dramas, generated significant revenue, with a 94.41% increase year-on-year [14][16]. - Yuewen Group has launched a "Short Drama Star Incubation Plan" to develop its presence in the short drama market, although it has been slower to adapt compared to its competitors [18][19]. Group 4: Market Size and Growth - The micro short drama market in China reached a scale of 37.39 billion RMB in 2023, growing by 267.65% year-on-year, nearing the total box office of films [22]. - The rapid growth of the short drama market has attracted various stakeholders, including government entities and state-owned enterprises, indicating a trend towards higher quality content [22].

证券代码：300133 证券简称：华策影视 公告编号：2025-054 浙江华策影视股份有限公司 2024 年年度股东大会决议公告 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。 特别提示： 1、本次股东大会未出现否决议案。 2、本次股东大会不涉及变更前次股东大会决议。 3、本次股东大会召开期间没有增加或变更议案。 一、会议召开情况 1、召开时间： （1）现场会议召开时间：2025 年 5 月 15 日（星期四）15：00 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 5 月 15 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联 网系统投票的具体时间为 2025 年 5 月 15 日 9:15-15:00。 2、召开地点：杭州市西湖区五常港路 466 号华策中心 A 座公司会议室。 3、召开方式：本次会议采取现场结合网络投票的表决方式。 4、召集人：浙江华策影视股份有限公司董事会。 5、主持人：公司董事长赵依芳女士。 6、本次股东大会的召集、召开与表决程序符合《公司法》、《深圳证券交 ...

国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关于 浙江华策影视股份有限公司 2024 年年度股东大会的 法律意见书 地址：杭州市上城区老复兴路白塔公园 B 区 2 号、15 号国浩律师楼 邮编：310008 Grandall Building, No.2＆No.15, Block B, Baita Park, Old Fuxing Road, Hangzhou, Zhejiang 310008, China 电话/Tel: (+86)(571) 8577 5888 传真/Fax: (+86)(571) 8577 5643 电子邮箱/Mail：grandallhz@grandall.com.cn 网址/Website：http://www.grandall.com.cn 二〇二五年五月 国浩律师（杭州）事务所 法律意见书 国浩律师（杭州）事务所 关 于 浙江华策影视股份有限公司 2024年年度股东大会的 法律意见书 致：浙江华策影视股份有限公司 国浩律师（杭州）事务所（以下简称"本所"）接受浙江华策影视股份有限 公司（以下简称"公司"）的委托，指派律师出席公司2024年年度股东大会（以 下简称" ...