念一 大漠实拍，港式武侠、喜剧融合邪典电影（Cult Film）趣味，这个春节档，《镖人》不是票房最高、最 符合潮流的电影，但它代表了一种正在消逝的电影气质，如果你对铺天盖地的AI制作感到倦怠，偏好 硬桥硬马、注重实拍的武打电影，《镖人》有其可观之处。 《镖人》剧照 旧武侠的新传承 这部电影由袁和平导演，吴京、陈丽君、于适主演，李连杰、谢霆锋、梁家辉、张晋、惠英红等名角参 演。他们大多拥有丰富的打戏经验，像惠英红更是著名的刀马旦，李连杰则是当仁不让的华语影史功夫 巨星。 导演袁和平的从业生涯亦颇为传奇，他出道于港台演艺圈，曾为《黑客帝国》《卧虎藏龙》《功夫》等 经典电影担任动作指导，与成龙、洪金宝颇有交情，业内尊称他"袁八爷"。《镖人》筹备时传出这套阵 容时，它的打戏质量就备受期待。 但袁和平担任导演的能力，不如他做动作指导出色。在担任王家卫电影《一代宗师》动作指导后，他导 演的几部作品质量都难言出色，此番他改编漫画《镖人》，集结武打全明星阵容，或许既有了却一桩心 事、重振旧武侠电影风范之意，也有证明自己导演功力的决心。 从左至右：电影《镖人》的导演、"天下第一武指"袁和平；李连杰首部电影《少林寺》的导演张鑫 ...

Core Insights - The overseas micro-drama market is projected to exceed $4 billion by 2025, with the U.S. maintaining its top revenue position while emerging markets like India, Latin America, and the Middle East show rapid growth [1][2] - Chinese companies currently dominate the market, holding 94% of revenue and 80% of downloads, but this position may be challenged by the entry of major overseas players [1][5] Market Trends - The overseas short drama market is experiencing a reshaping, with three main thematic directions emerging: female-centric narratives targeting middle-aged audiences, emotionally resonant stories, and male-centric revenge themes [2][16] - Production costs for individual dramas have increased by 10%-20% compared to 2024, driven by longer shooting days and rising actor salaries [2][14] Competitive Landscape - Indian companies leverage Bollywood's dramatic storytelling to gain market share but are currently focused on domestic competition, while Western companies are still exploring new creative approaches [4][5] - Major platforms like Netflix, Amazon, and YouTube are currently observing the market without making significant moves, which may change in the future [5][6] Investment Dynamics - Capital is increasingly focused on North America as a core market due to high user payment willingness, while Latin America and the Middle East are seen as potential growth areas due to their large user bases and cultural compatibility with drama content [7][10] - The investment landscape is shifting, with a notable increase in interest towards AI-driven content production, as exemplified by My Drama's recent $22 million funding round [7][8] Industry Challenges - The industry is entering a significant reshaping phase, with many small platforms exiting due to challenges such as content homogeneity, financial pressures, and rising production costs [2][18] - Issues like delayed payments, malicious competition, and content plagiarism are becoming more prevalent during this reshaping process [18] Future Outlook - By 2026, the industry is expected to see a shift towards high-quality vertical screen films, continued market consolidation, and the emergence of Latin America and the Middle East as new growth drivers [19][21] - Companies are planning to enhance content quality and localize productions to better cater to regional audiences, particularly in Latin America [21]

- 必当 -〇- 行业均值 制图数据来自恒生聚源数据库 市净率(LF)历史分位(%) 100 ଛି ୨୦ 80 77c34 74x61 70 60 61057 50 43 දෙ 40 3739 30 29:97 =28:25 26.63 20 10 0 2020-12-37 I 2021-12-37 d-12-37 2n- 中证智能财讯华谊兄弟（300027）1月30日晚间披露2025年度业绩预告，预计2025年归母净利润亏损2.89亿元至4.07亿元，上年同期亏损2.85亿元；扣非净利 润亏损3.14亿元至4.17亿元，上年同期亏损3.83亿元。以最新收盘价计算，市净率（LF）约23.4倍，市销率（TTM）约21.91倍。 以本次披露业绩预告均值计算，公司近年市盈率（TTM）图如下所示： 近年来市盈率变化情况 (倍) 总曾曾言_言言 2,27 7.08 7d 78.99 2021-12-37 202-06-30 2021-06-30 ' 2020-12-37 3-06-30 122-12-37 3-12-37 2n. -〇- 行业均值 -O- 公司 制图数据来自恒生聚源数据库 市盈率(TTM)历史分位(％) ...

值得注意的是，动画电影票房首次突破250亿元，占全年总票房约48%，成为中国影史"动画电影票房最 高一年"。 票房前10名影片分别为：《哪吒之魔童闹海》154.46亿元、《疯狂动物城2》40.15亿元、《唐探1900》 36.12亿元、《南京照相馆》30.17亿元、《731》19.43亿元、《浪浪山小妖怪》17.19亿元、《捕风追 影》12.65亿元、《封神第二部：战火西岐》12.38亿元、《熊出没·重启未来》8.21亿元、《阿凡达：火 与烬》7.62亿元。 其中，《哪吒之魔童闹海》《疯狂动物城2》《浪浪山小妖怪》分列2025年动画电影票房榜前三位。上 述三部影片票房合计超210亿元，贡献了全年票房的四成。 2025年即将收官，据猫眼专业版数据，截至2025年12月31日20时，2025年全年电影票房达517.93亿元， 较2024年的425.02亿元增长逾90亿元，同比增幅22%；全年观影人次12.36亿，同比增加2.27亿。 从重要档期的票房表现来看，2025年春节档收获票房95.14亿元，暑期档为119.66亿元，国庆档为18.35 亿元，当前的贺岁档票房已超52亿元。 此外，目前计划于2026年春节档 ...

张天福生前友人认为，AI制作视频是冒犯逝者。 新京报记者 刘锦涵 制作 罗伟伟 10月14日，已故"茶界泰斗"张天福被AI工具"复活"，为茶企代言一事引发关注。 视频发布账号归属福建张天福品牌管理有限公司，工作人员承认，视频系AI制作。 张天福遗孀张晓红表示，将通过法律途径维权。 福建通民律师事务所邱清双律师认为，若家属认为视频内容侵犯逝者形象，平台方应及时采取必要措 施。 张天福之子张德友曾授权茶企制作视频，他表示，就此事已被主管部门约谈。 ...