春节将近，春节档作为全年流量最大、竞争最激烈的黄金档期，一直是头部影视公司推出年度重磅影片的必争之地。值得关注 的是，2026年春节档长达9天，创下史上最长春节档纪录。 今年一共有8部电影定档春节档，影片题材丰富，涵盖喜剧、谍战、犯罪、动画、奇幻、家庭、纪录片等类型。还有沈腾、易烊 千玺、王鹤棣等知名演员扎堆加盟。 据猫眼专业版上映日历，除了纪录片《重返.狼群》于2月19日重映，黄子华、郑秀文等港星主演的喜剧电影《夜王》于2月20日 在两广(广东、广西)地区限定上映外，其他6部影片均定档大年初一(2月17日)上映。 8部影片云集春节档《惊蛰无声》想看人数暂列第一 据灯塔专业版数据，目前《惊蛰无声》想看人数暂列第一，与《飞驰人生3》《镖人：风起大漠》构成这个春节档的头部主力阵 营，《熊出没.年年有熊》《星河入梦》及《熊猫计划之部落奇遇记》则各守类型基本盘。 灯塔专业版6日发布的《2026年春节档前瞻》显示，《惊蛰无声》年轻及女性观众"想看"占比突出；《镖人：风起大漠》更吸引 男性观众；《熊出没.年年有熊》三四线城市"想看"占比断层领先；《飞驰人生3》和《熊猫计划之部落奇遇记》则分别是25至29 岁和40岁以上观 ...

春节将近，春节档作为全年流量最大、竞争最激烈的黄金档期，一直是头部影视公司推出年度重磅影片的必争之地。值得关注 的是，2026年春节档长达9天，创下史上最长春节档纪录。 今年一共有8部电影定档春节档，影片题材丰富，涵盖喜剧、谍战、犯罪、动画、奇幻、家庭、纪录片等类型。还有沈腾、易烊 千玺、王鹤棣等知名演员扎堆加盟。 春节档是一年中最重要的档期之一，灯塔专业版分析称，中国影史单日票房TOP5中，有4次出现在大年初一。业内专家指出， 近年来，春节档的马太效应将愈加明显，头部影片预计将贡献超过70%的票房。 据猫眼专业版上映日历，除了纪录片《重返·狼群》于2月19日重映，黄子华、郑秀文等港星主演的喜剧电影《夜王》于2月20日 在两广（广东、广西）地区限定上映外，其他6部影片均定档大年初一（2月17日）上映。 8部影片云集春节档 《惊蛰无声》想看人数暂列第一 据灯塔专业版数据，目前《惊蛰无声》想看人数暂列第一，与《飞驰人生3》《镖人：风起大漠》构成这个春节档的头部主力阵 营，《熊出没·年年有熊》《星河入梦》及《熊猫计划之部落奇遇记》则各守类型基本盘。 灯塔专业版6日发布的《2026年春节档前瞻》显示，《惊蛰无声》年轻 ...

每经AI快讯，2月9日，万达电影（002739）在投资者互动平台表示，公司投资出品影片《飞驰人生3》 《惊蛰无声》《熊出没.年年有熊》及联合出品影片《镖人》已定于春节档上映。 ...

万达电影在互动平台表示，公司投资出品影片《飞驰人生3》《惊蛰无声》《熊出没·年年有熊》及联合 出品影片《镖人》已定于春节档上映。 （文章来源：第一财经） ...

Core Insights - The 2026 Spring Festival holiday will feature the longest film release period in history, with 8 films already scheduled for release, indicating a shift from a "one strong, many strong" market to a "many strong" competition landscape [1][4] - The total box office for the 2026 Spring Festival is expected to range between 70 billion to 80 billion yuan, with optimistic projections suggesting it could exceed 80 billion yuan [1][4] - The film "Flying Life 3" is anticipated to be a major box office and critical success, benefiting from its predecessor's popularity [1][4] Film Projects Overview - "Flying Life 3" is directed by Han Han and stars Shen Teng and Yin Zheng, with a strong production team including major domestic film companies. Its predecessor grossed 3.361 billion yuan [2] - "Panda Plan: Tribe Adventure" is a sequel to the "Panda Plan" IP, produced by Light Media, which has a history of successful Spring Festival releases [2] - "Silent Awakening" is directed by Zhang Yimou and features popular actors, with expectations based on previous successful films by the same director [2] Market Predictions - Industry professionals predict that the 2026 Spring Festival will see a diverse range of genres, including comedy, action, and animation, leading to a more rational competition [5] - Despite concerns about maintaining last year's record high box office, the market is expected to show resilience, with several films projected to exceed 1 billion yuan in box office revenue [4][5] - The film "Return to the Wolf Pack," set for re-release, is gaining significant attention on social media, potentially positioning it as a dark horse in the box office race [3] Stock Insights - Maoyan Entertainment (01896) is expected to have a strong performance in the 2026 Spring Festival, having achieved record highs in film releases and box office performance [6] - Damai Entertainment (01060), a subsidiary of Alibaba, is involved in the production and distribution of key films for the Spring Festival, including "Flying Life 3" [6] - Light Media (300251.SZ) is a key producer for "Panda Plan: Tribe Adventure," which is anticipated to be a top performer during the festival [6]

2026年长达9天的春节假期让电影市场迎来"史上最长春节档"。灯塔专业版数据显示，截至2月8日，已 有8部影片定档2026年春节档，包括《惊蛰无声》《飞驰人生3》《镖人：风起大漠》《熊出没·年年有 熊》等。2026年春节档电影市场或从2025年春节档的"一超多强"回归"多强争霸"格局。多数业内人士预 计，档期总票房或将落在70亿至80亿元区间，乐观预期下，总票房或将突破80亿元。 今年的春节档电影涵盖了喜剧、科幻、谍战、动画、武侠等诸多类型，其中，业界普遍预计《飞驰人生 3》在前作积累的高人气加持下，有望成为档期票房与口碑的双重担当。 目前，相关预售尚未开启，但据猫眼专业版，《飞驰人生3》想看人数达88万，稳居春节档首位;《熊猫 计划之部落奇遇记》和《惊蛰无声》分别以33万和31万的想看人数排名第二和第三，三部新片也基本锁 定春节档片单前三名。 具体来看，今年春节档电影项目储备包括： 《飞驰人生3》：继续由韩寒指导，沈腾和尹正主演。主出品方是亭东影业，其他出品方阵容强大，包 括众多头部国内影视公司，有猫眼娱乐、大麦娱乐、博纳影业、中国电影、开心麻花、万达电影、横店 影视等。可比电影票房表现出色，前作《飞驰人生 ...

《飞驰人生3》：继续由韩寒指导，沈腾和尹正主演。主出品方是亭东影业，其他出品方阵容强大，包 括众多头部国内影视公司，有猫眼娱乐、大麦娱乐、博纳影业（001330）、中国电影（600977）、开心 麻花、万达电影（002739）、横店影视（603103）等。可比电影票房表现出色，前作《飞驰人生2》最 终票房33.61亿元。目前已经率先宣布定档春节。 《熊猫计划之部落奇遇记》：是电影《熊猫计划》IP续作，光线传媒（300251）是电影的出品方之一。 《熊出没.年年有熊》所属的《熊出没》IP的系列电影历年都是春节档的"常驻嘉宾"，该系列至今已推 出11部电影，累计吸金票房超81亿元，拥有稳定的观影受众，是春节档合家欢电影的重要代表。 《惊蛰无声》：由张艺谋导演，易烊千玺、朱一龙和宋佳主演。主出品方是大麦娱乐，预计也将由大麦 娱乐担任主发方。可比电影有同为张艺谋导演、春节上映的电影，如最终票房24.29亿元的《第二十 条》、最终票房45.44亿元的《满江红》等。 2026年长达9天的春节假期让电影市场迎来"史上最长春节档"。灯塔专业版数据显示，截至2月8日，已 有8部影片定档2026年春节档，包括《惊蛰无声》《飞驰人 ...

Investment Rating - The report maintains a "Buy" rating for the media industry, highlighting strong performance in the sector compared to the broader market indices [1]. Core Insights - The media sector is expected to benefit from AI applications and consumer spending, with significant growth in digital marketing and advertising driven by AI technologies. Major internet companies are leveraging digital red envelopes to attract new customers for AI products during the Spring Festival [2][3]. - The report emphasizes the potential of the AIGC (AI Generated Content) sector, particularly in digital marketing, e-commerce, and AI-driven content creation, as key areas for investment [2][3]. Industry Overview - The media industry has shown resilience, with the Shanghai Composite Index and Shenzhen Component Index experiencing declines of -1.27% and -2.11% respectively, while the media sector has outperformed with significant gains [12]. - The report notes a resurgence in the digital marketing sector, particularly with the GEO (Geolocation) advertising model, which is expected to drive growth in 2026 [2][3]. Recommended Stocks and Rationale - Key stocks to watch include: - Wanda Film (002739): Actively embracing AI and participating in major Spring Festival films [3]. - Bona Film (001330): Expected to recover with participation in the Spring Festival film lineup [3]. - Mango Excellent Media (300413): Anticipated to benefit from AI integration in its core business [3]. - BlueFocus Communication Group (300058): A leading digital marketing firm actively adopting AI [3]. - Bilibili (9626.HK): Expected to see increased commercial value from community video content [3]. - The report suggests a focus on cinema chains and companies involved in the digital marketing and e-commerce sectors as potential investment opportunities [2][3]. Market Dynamics - The report highlights the competitive landscape in the AI-driven content creation space, with major players like Alibaba and ByteDance actively engaging in the AI Spring Festival initiatives [13][31]. - The cinema sector is gearing up for the 2026 Spring Festival with a diverse lineup of films, which is expected to attract various audience segments [14]. Financial Projections - The report provides earnings per share (EPS) forecasts for several companies, indicating a positive outlook for the media sector: - Huace Film & TV (300133): EPS projected to grow from 0.13 in 2024 to 0.27 in 2026 [7]. - Mango Excellent Media (300413): EPS expected to increase from 0.73 in 2024 to 0.82 in 2026 [7]. - Wanda Film (002739): EPS forecasted to rise from -0.43 in 2024 to 0.85 in 2026 [7].

Investment Rating - The report rates the industry as "Buy" [5] Core Insights - The AI application competition is intensifying, with major players like Yuanbao, Qianwen, and Doubao launching various promotional activities to capture AI traffic [2][8] - Internet penetration in China has surpassed 80%, with a user base of 1.125 billion, indicating a significant market for digital advertising [14][15] - The advertising market shows signs of recovery, with a notable increase in ad spending starting from July 2025, particularly during the November shopping festival [15] Summary by Sections AI Application Competition - During the 2026 Spring Festival, Yuanbao launched a 1 billion RMB cash red envelope campaign, while Qianwen initiated a 3 billion RMB promotional event focused on food delivery [8][10] - On February 6, 2026, these three AI applications dominated the iPhone app download charts, with Yuanbao and Qianwen reaching the top positions [10][12] Internet Penetration and Advertising Market - According to CNNIC, the internet penetration rate in China reached 80.1% in 2025, with 602 million users engaging with generative AI applications [14] - The advertising market has shown a recovery trend, with ad spending growth rates exceeding double digits from September to November 2025, peaking at 16.6% during the shopping festival [15][16] Recommended Stocks - The report recommends several companies across different sectors that are expected to benefit from the AI ecosystem, including: - **Gaming**: Century Huatong, Giant Network, Perfect World, and others [13] - **Film and Television**: Mango Super Media, Wanda Film, and Shanghai Film [13] - **Marketing**: Easy Point and Worth Buying [13] Industry Performance - The SW Media Index fell by 3.30% from February 2 to February 6, 2026, underperforming compared to major indices [5]

Core Viewpoint - The "Craftsmanship" market in Shuangjing Street, Chaoyang District, was launched on February 6, providing residents with convenient access to traditional New Year goods and services [1] Group 1: Market Overview - The "Craftsmanship" market and the Trade Union New Year Goods Festival officially opened, following the principle of "Trade Union sets the stage, enterprises perform, and workers benefit" [4] - A total of 21 quality merchants, including Beijing Daoxiangcun, Xueji Fried Goods, Wanda Cinemas, Cuihua Building, Zhang Yiyuan, and Tongrentang, participated in the market [4] Group 2: Community Services - The market features a cultural experience area where calligraphy enthusiasts write Spring Festival couplets and "Fu" characters for residents [3] - A public service area offers consultations on elderly care policies, free haircuts, and health check-ups [3] Group 3: Support for New Employment Groups - A special "Warm Corner for New Employment Groups" was set up, where the Chaoyang District Trade Union and Shuangjing Street provided warm packages including Spring Festival couplets and lucky bags to representatives of new employment groups [5] - Health check-ups and rights protection guidance were also offered to delivery workers [5]