2 1 Shi Ji Jing Ji Bao Dao·2025-10-10 02:06Market Overview - The stock market opened weakly on October 10, with the ChiNext Index dropping over 1%, the Shanghai Composite Index down 0.50%, and the Shenzhen Component Index down 0.76% [1] - Nearly 4,000 stocks in the Shanghai, Shenzhen, and Beijing markets declined, with significant losses in sectors such as precious metals, semiconductor chips, and non-ferrous metals [1] Company Performance - Guomai Culture (301052) experienced a continuous decline, hitting a 20% limit down, while Wanrun Technology (002654) fell over 9%, and Hengdian Film (603103) dropped over 6% [1] - As of October 9, Guomai Culture's year-to-date increase exceeded 100%, but it faced a significant drop of 20% on the day, closing at 48.96 CNY [3] Film Industry Insights - The animated film "The Stars of the Three Kingdoms" produced by Guomai Culture and other companies was released on October 1, but it only grossed over 75 million CNY, ranking 8th during the National Day holiday, which was below market expectations [4][5] - The National Day box office for 2025 saw a year-on-year decline of 13%, totaling 18.35 billion CNY, with this year's box office down by 2.7 billion CNY compared to previous years [5] Audience Trends - The total number of moviegoers during the National Day holiday was 50.08 million, a decrease of 4% year-on-year, with average attendance per screening down 15% [6] - The share of box office revenue from first-tier cities fell to a historical low of 13.4%, while the share from third and fourth-tier cities increased to nearly 44% [15] Industry Challenges - The film market is facing significant pressure, with major films struggling to break even, as seen with "The Volunteer Army: Blood and Peace," which grossed only 4.88 billion CNY against high production costs [16] - The overall film market saw a 34.73% year-on-year decline in box office revenue in the second quarter, indicating a challenging environment for film companies [16] Future Directions - Industry leaders are exploring new business models, such as integrating gaming IPs into cinema experiences and diversifying content offerings to include theater performances and sports events [23][24] - The film industry is urged to accelerate its transformation to adapt to changing audience preferences and market conditions [26]