Ge Long Hui A P P·2025-08-21 10:21Group 1 - The media and film industry once thrived in the capital market, with the media sector rising 172% in 2015, becoming the best-performing industry that year [2][3] - Following the release of the new policies, film stocks surged, with companies like Mango Super Media and Ciweng Media hitting their limits [3][4] - Despite the recent policy boost, the capital market remains skeptical about the long-term recovery of film stocks, which have seen a decline of over 50% since 2016 [4][6] Group 2 - Major film companies like Wanda Film and Huayi Brothers have experienced stock declines of over 80%, while companies focused on long dramas like Ciweng Media have seen declines of over 70% [6][7] - Mango Super Media, despite a 15-fold increase in stock price since its listing in 2015, has seen a 70% drop from its peak in 2021, with revenue and net profit both declining significantly in 2024 [8][9] - The overall industry is facing a profit volatility issue, with only a few companies like Huayi Brothers and Beijing Culture showing positive net profit growth in 2024 [11][12] Group 3 - The new policies have relaxed content restrictions and improved review efficiency, which could potentially benefit production companies and enhance the quality and efficiency of industry output [24][26][28] - The short drama market has rapidly grown, surpassing 500 billion in 2024, accounting for 70% of the long drama market, indicating a shift in viewer preferences [30][31][32] - The supply side of the industry is under pressure, with a 73% decrease in the number of TV dramas approved for release over the past decade [36][39] Group 4 - The introduction of AI technology in video production and advertising is expected to empower companies like Mango Super Media, potentially transforming the industry's cost structure and investment returns [43][45] - The film industry is navigating through a complex landscape of regulatory changes, content ecology, and technological advancements, which will shape its future [46][47] - The ongoing decline in supply and the need for capital reinvestment are critical for the industry's recovery and long-term growth [47]