Kunlun(SZ:300418) Zheng Quan Shi Bao·2025-09-03 18:13Core Insights - The short drama sector is experiencing rapid growth, with multiple listed film and television companies reporting significant revenue increases from their short drama businesses in their semi-annual reports Group 1: Company Performance - Kunlun Wanwei reported a revenue of 3.733 billion yuan in the first half of the year, a nearly 50% year-on-year increase, with the short drama platform generating 583 million yuan [1] - Huayi Brothers has established a short drama brand "Huayi Brothers Fire Drama" and has launched multiple short drama projects in collaboration with various partners [3] - Huanrui Century achieved a revenue of 198 million yuan in the first half of the year, marking an 83.72% year-on-year increase, driven by innovations in short drama content and marketing [2] Group 2: Short Drama Business Growth - Kunlun Wanwei's short drama platform, DramaWave, has shown explosive growth, with annualized revenue surpassing 240 million USD and monthly revenue exceeding 20 million USD [1] - Lemon Film's revenue reached 401 million yuan in the first half of the year, a substantial increase of 108.5%, with a focus on scaling and quality in short drama production [2] - Lemon Film launched over 3,400 minutes of short dramas in the first half of the year, achieving a production capacity of over 16 episodes per month, positioning itself among industry leaders [3] Group 3: Market Expansion and Innovation - Kunlun Wanwei anticipates that by the end of 2025, annualized revenue from short dramas will reach 360 million USD, supported by self-production and market expansion strategies [1] - Huazhi Shumei is exploring the development of short dramas and gaming dramas, actively working on international short drama platforms to enhance localization efficiency [3] - Lemon Film's overseas business revenue exceeded 33 million yuan, approximately 2.5 times that of the same period in 2024, indicating successful international market penetration [3]