Core Viewpoint - The company is focusing on a "film production + IP operation" light asset business model to accelerate its return to healthy development [1] Group 1: Business Strategy - The company is concentrating high-quality resources to deepen its film business and produce high-quality films while enhancing the monetization channels of valuable IPs [1] - The company is actively optimizing its asset structure to strengthen and enhance the core competitiveness of its main business [1] Group 2: Project Development - The company has a rich project reserve and is set to strengthen its content advantages by 2025 [1] - The film "Mermaid 2," directed by Stephen Chow, is in the post-production stage, while "Catching Spies," directed by Feng Xiaogang and starring Lei Jiayin and Hu Ge, has completed filming [1] - Multiple film projects, including "Little Soldier Zhang Ga," "Special Gift," "In the Net," "Parallel Mission," and "Young Rocket," are either in production or in the process of being prepared for filming [1] - The company is steadily advancing several TV dramas, web series, and online films in which it has invested [1]

北京商报讯（记者 卢扬 实习记者 华卓玛）10月21日，华谊兄弟在投资者互动平台回答投资者称，公司 继续集中优质资源贯彻"影视制作+IP运营"的轻资产商业模式，以推动公司加速回归健康发展的快车 道。一方面，公司继续深耕影视业务，持续产出高质量的优秀影视作品，并致力于完善及打通IP上下游 全产业链，拓宽优质IP的可变现渠道。另一方面，公司积极优化资产结构，集中优势资源巩固和提升公 司主营业务核心竞争力。 华谊兄弟在2025年持续强化内容优势，项目储备丰富。电影方面，由周星驰导演的《美人鱼2》已进入 了后期制作阶段。由冯小刚执导，雷佳音、胡歌主演的《抓特务》已杀青。此外《小兵张嘎》、《特殊 的礼物》、《网中人》、《平行任务》、《少年火箭》等多个电影项目也正在制作中或加紧筹备开机。 剧集及网络大电影方面，公司参与投资的多部电视剧、网剧及网络大电影稳步推进。 ...

Financial Performance - The company has accumulated losses of 8.246 billion yuan from 2018 to 2024 [10] - The company is actively optimizing its asset structure to enhance core competitiveness [18] Strategic Initiatives - The company is focusing on a "film production + IP operation" light asset business model to accelerate recovery [13] - The company is continuously developing and reserving high-quality film projects, with several films scheduled for release in 2025 [11] Upcoming Projects - "The Sunflower" directed by Feng Xiaogang and starring Zhao Liying was released on April 4, 2025 [11] - "East Extreme Island," directed by Guan Hu, is scheduled for summer 2025 [11] - "The Breakup List," directed by Tian Yusheng, has completed post-production [11] - "Mermaid 2," directed by Stephen Chow, is in post-production [11] Production Pipeline - Multiple films are in various stages of production, including "Little Soldier Zhang Ga," "Special Gift," and "Unexpected Farewell" [11] - The company has established a short drama brand "Huayi Brothers Fire Drama" and has released several short dramas in early 2025 [12] Market Challenges - The company faces intense competition in the film industry, impacting its market share [18] - The company is taking measures to mitigate risks associated with high-investment projects like "East Extreme Island" [19]