Group 1 - Bona Film Group's stock experienced a significant decline, hitting a limit down at 10.82 CNY per share on December 16, following a 9.96% drop on December 15 [2][4] - The company had previously seen a rise in stock price over nine consecutive trading days, attributed to its indirect investment in "Avatar 3" [2][4] - As of December 16, the pre-sale box office for "Avatar 3" exceeded 480 million CNY [2] Group 2 - "Avatar 3," directed by James Cameron, is set to be released on December 19, with advanced screenings starting on December 18 [4] - Bona Film Group has issued multiple announcements regarding abnormal stock trading fluctuations, with significant price deviations noted on several occasions throughout December [4] - The company reported a revenue of 972 million CNY for the first three quarters of 2025, reflecting a slight year-on-year increase of 1.29%, but also reported a net loss of 1.109 billion CNY, which is a 213.11% increase in losses compared to the previous year [4][5] Group 3 - Despite the recent stock price increase, the company cautioned investors about the uncertainty of box office revenues for "Avatar 3," as it has not yet premiered globally [5] - The company's subsidiary holds a low percentage of investment return rights for "Avatar 3," indicating limited short-term impact on financial performance [5]

Core Viewpoint - The film "Avatar 3" has generated over 30 million in pre-sales and screenings within four days, but the stock prices of related companies, particularly Bona Film Group, have seen significant declines despite previous gains due to market speculation [1][4][5]. Group 1: Company Performance - Bona Film Group has faced continuous losses since its listing, with cumulative losses exceeding 2.6 billion from 2022 to 2024 and the first three quarters of this year [2][14]. - The company's revenue for the first three quarters of 2025 was 972 million, a year-on-year increase of 1.29%, but it reported a net profit loss of 1.11 billion, a 213.11% increase in losses compared to the previous year [14]. - Since its listing in August 2022, Bona Film Group has consistently reported declining revenues and increasing losses, with annual revenues of 2.01 billion, 1.61 billion, and 1.46 billion for 2022, 2023, and 2024 respectively, showing year-on-year declines of 35.60%, 20.06%, and 9.12% [14][16]. Group 2: Stock Market Activity - Bona Film Group's stock price experienced a significant increase of nearly 70% in December before facing a sharp decline, with the stock hitting a high of 13.35 on December 12 [3][4]. - The company has issued multiple announcements regarding abnormal stock trading fluctuations, with cumulative price deviations exceeding 20% on several occasions [4][5]. - Despite the recent stock price surge, Bona Film Group has stated that it has not identified any undisclosed significant information affecting its stock price, attributing the interest to discussions around "Avatar 3" on investor platforms [5][12]. Group 3: Film Industry Context - "Avatar 3" is expected to perform well in the holiday season, with no major domestic films competing, and the film's pre-sale ticket prices have reached as high as 198 yuan for premium formats [1][12]. - The "Avatar" series has been a top-grossing franchise globally, with the first film earning 2.923 billion and the second 2.320 billion, making them the first and third highest-grossing films in history [9][11]. - Bona Film Group has secured rights to share in the box office revenue of "Avatar 3" through a partnership with TSG Entertainment, although the specific revenue-sharing ratio has not been disclosed [7][12].