从静悄悄拿下横店影城合作权到骨折价转让躺着赚钱的SM，再到前两天溢价接盘负债累累的影视城， 你有没有发现韩流正在悄悄加速回流，已经在中国快销声匿迹的韩流到底嗅到了什么信号？为什么让中 国文娱资本占这么大便宜也要拉中国公司入伙？难道"限韩令"真的开始松动了？ ...

Group 1 - The article discusses the gradual easing of the "Korean Wave Ban" in China, with recent events indicating a potential thaw in cultural exchanges between China and South Korea [1][49][50] - There have been multiple K-POP idol meet-and-greets and promotional events in Chinese cities, signaling a resurgence of interest in Korean entertainment [1][47] - The "Korean Wave Ban" has had a long-lasting impact on both countries' entertainment industries, creating a protective environment for China's domestic entertainment while pushing K-POP to expand globally [1][2][4] Group 2 - The article highlights the historical context of the "Korean Wave Ban," which began in 2016 due to geopolitical tensions, leading to significant restrictions on Korean cultural exports to China [3][4][8] - The ban resulted in a drastic decline in the presence of Korean stars in Chinese media, with many shows and collaborations being canceled or altered to avoid association with Korean content [6][7][10] - The shift in consumer preferences in China has led to a growing demand for domestic idols and content, reflecting a change in cultural consumption patterns [20][27][56] Group 3 - The article notes that despite the easing of restrictions, there remains a cultural gap and skepticism among Chinese consumers towards Korean entertainment, influenced by past political tensions [2][52] - The Korean entertainment industry has also adapted by seeking new markets and diversifying its talent pool, including members from various countries to appeal to a broader audience [32][33] - The financial performance of major K-POP companies has been affected by the changing dynamics, with significant revenue declines reported in 2024 [43][44] Group 4 - The article emphasizes the ongoing cultural exchange efforts, including collaborations between Chinese and Korean media companies, which have resumed in recent years [45][46] - The rise of social media platforms has allowed Korean idols to engage directly with Chinese fans, further bridging the gap between the two cultures [48][49] - The future of the K-POP industry in China remains uncertain, as consumer sentiment continues to evolve and the market landscape changes [52][61]

Core Viewpoint - The closure of Innisfree's Tmall overseas flagship store is part of Amorepacific's strategy to streamline resources and create more efficient channels in the Chinese market, aiming to enhance consumer service and interaction experience [3]. Group 1: Company Strategy and Market Position - Innisfree has been a significant player in the Chinese market since its entry in 2012, targeting young consumers aged 20-26 with its "naturalism" positioning and affordable skincare and makeup products [4]. - The brand has expanded its presence across various e-commerce platforms and new retail channels, including KKV and traditional CS channels, despite the recent closure of its Tmall store [4]. - Amorepacific's financial report indicates that Innisfree's sales in China have been declining, with a significant drop in revenue and operating profit from 2017 to 2020 [6]. Group 2: Market Challenges and Performance - The implementation of the "Korean Wave" restrictions has led to a decline in the popularity of Korean cosmetics in China, with domestic brands gaining traction due to their cost-effectiveness and localized development [5]. - Innisfree's sales revenue decreased from 642 billion KRW in 2017 to 348.6 billion KRW in 2020, while operating profit plummeted from 107.9 billion KRW to 7 billion KRW during the same period [6]. - The brand has been undergoing a "slimming" strategy since 2020, closing 90 unprofitable stores in that year and an additional 170 stores in 2021, resulting in a reduction of its store count from over 800 to 140, marking an over 80% closure rate [7]. Group 3: Regional Performance - Amorepacific's overall sales in the Greater China region fell by 27% in 2024, making it the region with the largest revenue decline for the company [9]. - The company has faced challenges in the Chinese market, leading to the closure of other brands like Etude House and HERA, which have shifted to online and collection store models [9][10]. - Despite a 5.7% year-on-year increase in overall sales to 3.89 trillion KRW in 2024, the decline in the Greater China region highlights the ongoing difficulties faced by Amorepacific in this key market [9].