来源：央广网 12月21日，知乎旗下原创优质故事平台盐言故事在泉州举办创作者盛会，在众多优秀作者、行业嘉宾的 见证下发布"2025短篇故事影响力榜"。该榜单历时三届，已经成为短篇故事领域极具公信力和权威性的 年度盛事。本届榜单同样吸引了众多机构专家、产业合作伙伴参评，共推选出62部优秀作品和20位优秀 作者，不仅囊括了2025"盐言三绝"、短剧改编大热IP，也挖掘出众多具备多元开发潜力的佳作，有望成 就下一批网文、影视剧爆款。 今年的"最受影视价值作品"在原有基础上新增了短剧开发分支，既呼应了当下短剧火爆的产业趋势，也 展现出盐言故事面向短剧产业的价值释放。2025年，盐言故事已有上百部作品售出短剧改编权，引 领"盐言系短剧"热潮，以优质剧本驱动短剧新兴产业的发展，甚至影视产业的结构化创新。 知乎创始人、CEO周源在现场寄语优秀作者。他表示，知乎连续举办三届短篇故事影响力榜评选，希望 短篇故事能被更认真对待，真正用心写故事的人能被更认真看见。如果说去年榜单更关注"如何跑出爆 款"，今年的榜单则更注重思考"故事能留下些什么"。相比数据和热度维度上的影响力，更希望这份影 响力榜单中"既有被很多人看到的故事，也有被 ...

随着短剧出圈，各行各业掀起一股短剧跨界狂潮，就连房企都来横插一脚。 近日有媒体报道，绿地将旗下位于河南的几大项目以及20多个住宅项目，为短剧开放。9月，绿地在郑州落地了一个面积将近604亩的短剧基地，计划每年承 载超过1000部短剧拍摄。杭州万科在社交平台上推介地产项目，标注楼盘风格适合"豪门情感""替身文学"。 "时代财经"报道，截至目前，绿地已与10余家短剧公司陆续开展合作。 事实上，把空置小区、商务中心、酒店甚至写字楼、工厂、科技馆改造成短剧拍摄地，不止绿地、万科。早在之前，聚美优品把一处闲置商场改造成为"聚 美空港竖屏电影基地"，占地面积近1.7万平方米，建成20多个拍摄场景。 截至2025年2月底，基地累计接待天桥短剧、日新阅益、风华正茂、乐不可吱、三笙万物等剧组300余场次拍摄。基地内拍摄短剧381部，甚至剧组拍摄需提 前预约，每日最多可接待8个剧组。 短剧的爆发比想象中更持久。 《2025年微短剧阶段性发展报告》显示，2024年全国微短剧市场规模达到504.4亿元；2025年市场规模预估将达到634.3亿元，25.6%的增长率远高于同期电 影市场，微短剧市场或将继续保持高速增长，并在2027年突 ...

Core Viewpoint - The micro-short drama industry is rapidly emerging as a new pillar of the cultural industry in China, with Beijing leading the way, projected to reach a production value of 33.6 billion yuan in 2024, solidifying its core position in this sector [1][5]. Industry Overview - Micro-short dramas are characterized by innovative content forms that integrate various formats, showcasing unique charm and broad development prospects [1]. - The user base for micro-short dramas in China has reached 662 million, with a market size exceeding 50 billion yuan, surpassing box office revenues for films [8][9]. Company Developments - The Zuiyingchang, located in Beijing's Chaoyang District, has transformed from a logistics warehouse into a cultural industry park, now serving as a base for short drama and short film production [3][5]. - The park has undergone renovations to meet the needs of short drama filming, including structural reinforcements and the addition of professional filming facilities [5][10]. Market Trends - The shift towards micro-short dramas is driven by changing audience viewing habits, with viewers preferring quick, easily consumable content that fits into their fragmented schedules [8][12]. - Industry professionals are increasingly recognizing the market potential and cultural value of micro-short dramas, leading to a surge in participation from creators and production companies [6][8]. Strategic Initiatives - The establishment of the first short drama and short film base in Beijing has attracted over 20 leading institutions, resulting in a 10% increase in occupancy rates [5][10]. - The park has formed a "Short Drama and Short Film Industry Service Alliance," integrating over 200 diverse filming locations to reduce costs and enhance production efficiency [10][12]. Challenges and Solutions - Despite the growth, the Beijing micro-short drama industry faces challenges such as high production costs and the need for a more cohesive industry chain [12][14]. - Strategies for improvement include government and enterprise collaboration to streamline the production process and reduce costs while enhancing content quality [15][17].

Core Viewpoint - The article discusses the transformation of abandoned real estate projects in Zhengzhou into short drama filming locations, highlighting the intersection of the real estate and entertainment industries, and the economic opportunities arising from this trend [2][14][49]. Group 1: Real Estate Situation - The "养生谷" project in Zhengzhou, originally intended to provide a comprehensive health and wellness community, has faced significant delays, with some units overdue by over 1000 days [6][10]. - The project, which was supposed to include various health services, has largely failed, leading to many buildings being left unfinished [9][10]. - The area has seen a shift from real estate development to short drama filming, with the abandoned buildings being repurposed for creative projects [14][41]. Group 2: Short Drama Industry Growth - Zhengzhou has become a hub for the short drama industry, with over 4,000 professionals and more than 800 companies involved in the sector [30][38]. - The short drama market is projected to reach 500 billion yuan by 2024, surpassing the national box office for films [38]. - Filming costs in Zhengzhou are 30%-40% lower than in first-tier cities, making it an attractive location for production [30][38]. Group 3: Economic Implications - The repurposing of abandoned properties for short drama filming is seen as a way to revitalize the local economy, with local governments encouraging such initiatives [41][43]. - The short drama industry is characterized by low investment and high efficiency, allowing for rapid production cycles and quick returns on investment [39][49]. - Real estate companies are increasingly engaging with the short drama sector, seeking to leverage their properties for filming opportunities [47][50].

Market Overview - On October 23, the A-share market saw slight increases, with the Shanghai Composite Index rising by 0.22%, the Shenzhen Component Index also up by 0.22%, and the ChiNext Index increasing by 0.09. The overall market remained stable, with approximately 2,990 stocks rising [1] - The main broad-based indices showed positive performance, with the CSI A50 up by 0.56%, leading the gains [1] - The total trading volume in the Shanghai and Shenzhen markets was 16,439 billion RMB, slightly down from the previous trading day, marking six consecutive days below 20 trillion RMB [1] - The financing balance increased for four consecutive days, reaching 24,339 billion RMB, close to historical highs [1] Fund Flows - In terms of ETF categories, semiconductor chips led the net inflow with 1.228 billion RMB, surpassing gold at 826 million RMB [4] - The top three sectors for net inflow were semiconductor chips, gold, and the Sci-Tech 50 index, while the top sectors for net outflow included the CSI 300, coal, and the CSI 500 [4][8] Sector Performance - The coal sector led the gains with an increase of 1.75%, followed by oil and petrochemicals at 1.53%, and social services at 1.07%. Conversely, the communication sector saw a decline of 1.51%, real estate dropped by 0.99%, and building materials fell by 0.91% [6] - Over different time frames, gold continued to attract funds, maintaining a strong position in net inflows, although the amount decreased recently [7] Hotspot Tracking 1. **Chips**: Recent advancements in quantum communication technology by China Telecom's Quantum Research Institute have garnered market attention, particularly in quantum encryption and computing sectors. Analysts believe that the quantum communication sector will strengthen due to technological breakthroughs and industry applications [9] 2. **Artificial Intelligence**: The upcoming IPO of a chip company has sparked interest in the AI industry chain, covering applications, hardware, and computing power. The sector is expected to benefit from the IPO-driven market dynamics [10] 3. **Media**: iQIYI's new collaboration plan for short dramas indicates a growing market, with a projected market size exceeding 20 billion RMB this year. The demand for short dramas has surged, reflecting a strong growth trend [11][12] 4. **Oil and Gas**: Recent sanctions on Russian oil companies have raised concerns about potential supply disruptions, leading to a significant increase in international oil prices. Analysts suggest that the oil and gas sector will attract investment due to geopolitical tensions and seasonal demand expectations [13] 5. **Securities**: A total of 29 securities firms are expected to distribute over 18 billion RMB in mid-term dividends, reflecting a robust performance in the sector. Analysts predict a 55% year-on-year increase in net profit for the securities industry in the first three quarters of 2025 [14]

Investment Rating - The investment rating for the company is "Buy" and is maintained [1] Core Insights - The company is experiencing a phase of performance pressure, particularly in its digital marketing and gaming segments, but is strategically enhancing its short video center layout to drive future growth [4][5] - The company reported a significant decline in revenue and net profit for the first half of 2025, with revenue at 1.438 billion yuan, down 24.64% year-on-year, and net profit at 256 million yuan, down 9.98% year-on-year [4] - The gaming business showed a reduced decline, with revenue of 481 million yuan, down 6.33% year-on-year, while the digital marketing segment faced a more severe drop of 40.76% [5] - The company is expected to benefit from the upcoming peak season for marketing and the growing demand for short dramas, which could lead to a recovery in its digital marketing business [7] Financial Performance Summary - The latest closing price of the company's stock is 27.77 yuan, with a total market capitalization of 11.6 billion yuan [3] - The company’s comprehensive gross margin improved to 44.65%, up 7.88 percentage points year-on-year, primarily due to a decrease in the proportion of low-margin digital marketing business [6] - The company forecasts revenues of 3.4 billion yuan for 2025, with a gradual increase to 3.9 billion yuan by 2027, and net profits expected to rise from 547 million yuan in 2025 to 742 million yuan in 2027 [8][11]

Group 1 - The company, 小鱼盈通, is strategically expanding into the short drama industry to diversify its business and enhance revenue sources, with significant progress made so far [1][2] - The company has established a complete business chain from content development to production and distribution, successfully producing and launching multiple works [1] - In September 2025, the company completed the planning and production of 9 short dramas covering popular genres, demonstrating rapid content response and production capabilities [1] - Notable works include titles such as "重回80，拿捏糙汉老公" and "重生小股神，带老爸成首富," with some achieving strong market performance and ranking in the top three and five of industry charts [1] - The company aims to continue investing in the short drama industry, focusing on content innovation, technology application, and distribution expansion to enhance its international business presence [1] Group 2 - The board believes that the short drama industry is a significant area of digital content consumption with sustained growth potential, aligning with the company's strategic direction for new growth drivers [2] - This business expansion is expected to optimize the company's business structure and revenue model, while closely monitoring market dynamics for steady investment and operation in the short drama sector [2] - The company is committed to enhancing shareholder value through its initiatives in the short drama industry [2]

Group 1 - Tencent Holdings reported strong revenue and net profit growth in the first half of 2025, exceeding market expectations [1] - Tencent's domestic and international gaming businesses showed impressive performance [1] - Tencent Video maintained its leading position in the domestic long video market with 114 million paid members [1] Group 2 - The paid membership of Tencent Video has remained stable above 110 million for an extended period [1] - By the end of 2023, Tencent Video's paid members reached 117 million, with a projected 113 million by the end of 2024 [1] - The content market is becoming more complex, with the rapid growth of the short drama industry posing challenges to long video platforms [1] Group 3 - Despite the rise of short drama applications, long video platforms like Youku and Bilibili also saw growth in active user numbers, with Youku increasing by 8.7% [2] - Tencent Video and iQIYI have managed to stabilize their active user and paid membership numbers through a "long + short" content strategy [2] - Tencent Video led the industry with 363 million monthly active users, while iQIYI followed closely with 356 million [2] Group 4 - Long video platforms are accelerating their short drama strategies, leveraging their unique strengths for differentiated operations [3] - Tencent Video reported a diverse content ecosystem, showcasing resilience amid industry pressures and competition [3] - Tencent Video highlighted successful series and content types, including popular dramas and animations, while also focusing on short dramas [3]

Core Viewpoint - Zhengzhou is emerging as a significant hub for short dramas, attracting industry professionals and investments, with a target market size of 100 billion yuan by 2027 [1][9]. Group 1: Market Development - Zhengzhou's short drama market is rapidly growing, with children's actors earning up to 15,000 yuan per day and adult stars charging several tens of thousands [1][6]. - The city has seen a migration of actors and crew from traditional filming locations like Hengdian, indicating a shift towards short drama production [6][7]. - By 2024, the market size for micro short dramas in Zhengzhou is projected to reach 2.3 billion yuan, with over 800 production companies and a workforce of around 30,000 [4]. Group 2: Government Support and Policies - The Zhengzhou government has implemented supportive policies to foster the micro short drama industry, aiming for a market size of 100 billion yuan by 2027 [9][10]. - Incentives include financial rewards for high-quality productions and support for filming locations, which are expected to enhance the local economy [10][11]. Group 3: Infrastructure and Resources - Zhengzhou's advantageous location as a transportation hub facilitates the movement of production teams and equipment, reducing filming costs [8]. - The city offers diverse filming locations, including historical sites and modern urban settings, which enrich the creative possibilities for short dramas [8]. Group 4: Economic Impact - The short drama industry is expected to stimulate local economic growth by creating high-paying jobs in various roles such as photography, lighting, and acting [11]. - The integration of short dramas with tourism is anticipated to boost visitor numbers to local attractions, further enhancing economic activity [11].