全运会观赛之余，观众在大湾区来场说走就走的城市漫步；四川省城市足球联赛（"川超"）球迷在比赛后涌向当地特色美食店；上海演唱会 散场后，观众凭票在咖啡店品尝赠饮并小聚…… 近期，类似场景在多地频频上演。消费者在赛事或演出结束后，并不急着离开，而是沿着票根延伸的路径继续体验城市，小小票根成为激活 消费的"金钥匙"。 小小票根延伸消费链条 不久前，从江西赶来观看全运会赛事的程女士打卡了广州多个地标，还特别游览了广州动物园，因为持赛事票观众可免门票入园。这趟广东 行，她因优惠政策省了不少钱。 11月20日，一名观众在全运会棒球比赛现场展示自己的票根。新华社记者霍思颖 摄 受赛事活动、票根政策等提振，赛事举办地相关消费增长显著。抖音生活数据显示，全运会开幕首周，广州、深圳餐饮消费同比均增长140% 以上。 "川超"同样火热。来自凉山的球迷罗伟随队到乐山"远征"，一边看球一边品尝本地甜皮鸭等特色美食。"我们不仅可以为自己的球队呐喊助 威，拿着门票还能打折，品尝美味，游览美景。"他说。 据统计，"川超"分区赛期间，在一系列配套政策带动下，乐山主城区接待游客44.21万人次，同比增长24%。 "川超"乐山"味道非常队"主场馆 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任 何部分內容而產生或因依賴該等內容而引致之任何損失承擔任何責任。 CHINA NATIONAL CULTURE GROUP LIMITED 中國國家文化產業集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：745） 本公告乃中國國家文化產業集團有限公司（「本公司」，連同其附屬公司統稱「本集 團」）自願作出，以向本公司股東（「股東」）及潛在投資者提供有關本集團最新業務 發展的最新資料。 諒解備忘錄 本公司董事會（「董事會」）欣然宣佈，於二零二五年十一月二十四日，本公司與甘 肅演藝集團文旅產業發展有限公司（「甘肅演藝集團」）訂立不具法律約束之諒解 備忘錄（「諒解備忘錄」）。 根據諒解備忘錄，本公司與甘肅演藝集團擬成立一家合資公司（「合資公司」），其 合作前提為甘肅演藝集團須取得《樂動敦煌 • 盛世妙音》（「舞台劇」）之法定授權 書及項目計劃書。合資公司將負責舞台劇的全球演出及推廣事宜。合資公司的投 資將不少於20百萬港元。 自願公告 訂立諒解備忘錄 董事會認為， ...

消费是拉动经济增长的主引擎。党的二十届四中全会提出，以新需求引领新供给，以新供给创造新需 求，促进消费和投资、供给和需求良性互动。当前，消费需求正向高品质消费升级，尤其是年轻消费群 体越来越愿意为能带来情绪价值的产品和服务买单。一座城市如何拨动年轻消费者心弦？辽宁省沈阳市 有自己的"独门绝技"。 调查显示，年轻人的消费理念和消费需求正从功能性向情绪性转变，消费行为承载着个性表达、情感陪 伴与社交价值等多重意义。面对消费者结构和需求变化，该怎样撬动年轻群体消费？ 沈阳市精研社会消费心理，以丰富多元的情绪价值供给，打开了诱人的消费"盲盒"，吸引"头回客"变回 头客。喜剧周、音乐节、旗袍节、体育赛事等遍地开花，百变沈阳总有新花样来"宠粉"。利用首发经 济、演出经济、赛事经济等各种活动场景释放情绪价值，正成为沈阳拉高消费热度的"流量密码"。 悦己—— 从松弛感到满足感 "快乐是免费的，特别快乐可能就得花点儿。"这是"搞笑圈"脱口秀主理人刘海斌的口头语。 幽默是一门生意，沉浸式体验也是一种产业。"抓住年轻人的心，就等于抓住了年轻人的消费。我们在 推销一种年轻时尚的生活方式。"刘海斌说，在沈阳中街可以体验多样的幽默艺术， ...

Group 1 - Several Japanese films, including "Crayon Shin-chan: The Hot Spring Dancer" and "Cells at Work," have announced delays in their release, raising concerns about the impact on cultural exchange projects between China and Japan [3] - The film "Demon Slayer: Infinity Castle Chapter" had a strong initial box office performance, earning 87.5 million RMB in its opening weekend, but is now facing potential delays in its release [3] - The Shanghai International Comedy Festival's "Yoshimoto Comedy Special" has been canceled due to force majeure, highlighting the broader impact on Japanese entertainment events [3] Group 2 - The Japanese IP market is experiencing significant volatility, with companies relying heavily on Japanese IP for revenue facing potential risks, as seen in the case of brands like Blokus, where over 53.1% of revenue comes from Japanese IP [7] - Experts suggest that companies should reduce short-term reliance on Japanese IP and shift towards domestic or original IP to mitigate risks, with examples of companies like Shifeng Culture pivoting to local IPs [7] - Some derivative product companies report limited immediate impact, as their main IPs are not primarily Japanese, indicating a potential buffer against the current disruptions [8] Group 3 - The gaming industry and concert economy may also be affected, as some games rely on Japanese IP licenses, and events featuring Japanese virtual idols could face challenges [8]

Core Viewpoint - Recent delays in the release of Japanese films and cancellations of performances have raised concerns about the impact on cultural exchange projects between China and Japan, affecting various sectors of the entertainment industry [3][4]. Film and Performance Impact - Several Japanese films, including "Crayon Shin-chan: The Hot Spring Dancer" and "Cells at Work," have announced delays in their release. Some cinemas have confirmed these reports [6]. - The anticipated film "Demon Slayer: Infinity Castle Chapter" may also face a delay in its release, although some cinemas have not received official confirmation [6]. - The Shanghai International Comedy Festival's "Yoshimoto Comedy Special" has been canceled due to force majeure, highlighting the impact on live performances [7]. Broader Industry Effects - The entertainment industry, including Japanese films, performances, and related IP products, is experiencing noticeable fluctuations [4]. - Companies relying heavily on Japanese IPs, such as Budding Blocks, report that over 53.1% of their revenue comes from Japanese IP products. The withdrawal of Japanese films may significantly impact these companies [11]. - Experts suggest that companies should reduce short-term reliance on Japanese IPs and pivot towards domestic or original IPs to mitigate risks. For instance, companies like Shifeng Culture are shifting focus to domestic IPs [11]. IP Cooperation and Risk Management - The article emphasizes the need for companies to expand their IP cooperation to mitigate risks associated with reliance on Japanese IPs. This includes exploring collaborations with IPs from other regions such as Europe and the US [12]. - The gaming industry and concert economy may also face challenges due to the reliance on Japanese IPs, with potential impacts on revenue streams from games featuring Japanese characters and virtual idol concerts [12].

企业需减少对日本IP的短期依赖，加速转向国产或原创IP。 近日，多部原定上映的日本电影被证实暂缓上映。同时，部分日本喜剧亦因不可抗力取消，引发市场对中日文化交流项目连锁反应的关 注。 目前，日系电影、演出、IP衍生品及游戏等泛文娱产业已显露波动和影响。 电影撤档，演出取消 近日，有消息称，原定近期上映的日本电影《蜡笔小新：炽热的春日部舞者们》《工作细胞》均宣布暂缓上映。第一财经记者以消费者 身份咨询多家影院，上海市昌里路大光明丽星vip影城和合生汇中影国际影城的工作人员均表示上述消息属实。 外交部日前发布出行提醒：今年以来，日本社会治安不靖，针对中国公民违法犯罪案件多发，发生多起在日中国公民遇袭事件，部分案 件迄未侦破，中国公民在日本安全环境持续恶化。近日，日本领导人公然发表露骨挑衅言论，严重恶化中日人员交流氛围，给在日中国 公民人身和生命安全带来重大风险。 应扩大IP合作范围抵御风险 还有传言称，《鬼灭之刃：无限城篇 第一章 猗窝座再袭》将在20日之后暂停密钥。不过，部分影院工作人员表示暂未收到消息。该影片 上映之初曾被寄予厚望，上映首周末IMAX票房表现持续强劲，"斩"获8750万人民币，并以1%的银幕数 ...

一场心仪的演唱会、一次难得的展览、一场激情的赛事……一段时间以来，各地举办各具特色的文旅活 动，推动"跨城游"热度居高不下。数据显示，去年大型演唱会共覆盖180座城市，大型演出平均跨城观 演率保持在60%以上。去时兴高采烈，返程时往往身心俱疲：客流过度集中导致交通拥挤，返程票难 抢，合适时间的车票"秒光"……这些问题成为"跨城游"绕不过的隐痛。 【关键词】"歌迷专列" 【事件】"人生路漫漫，谢谢厦门站！"在福建厦门，听完某场演唱会的数百名歌迷，登上G9812次"歌 迷专列"，踏上归途。凌晨发车，车厢内张贴歌手海报、设置"应援物资暂存区"，行驶中广播切换为"低 音量模式"，到站时提供叫醒服务……以"歌迷专列"及时疏运演唱会散场后夜间返程的旅客，为跨城观 演画上温暖的句号。 【点评】 需求就是提升服务的方向。开行"歌迷专列"，就源于精准捕捉到异地观演旅客深夜返程不便、影响次日 工作等具体难处。和"歌迷专列"类似，多地开花的"城超"带火了"球迷专列"，一些马拉松比赛配备 了"跑友专列"，许多城市采取开通接驳公交专线、延长地铁运营时间、增配出租车运力等方式畅通"微 循环"。当游客痛点被看见，当民生需求被满足，周到的公 ...

（央视财经《正点财经》）为期3个月的"大戏看北京"2025展演季依旧如火如荼进行着，117部精品剧目 为北京演出市场增加了多重韵味，经典剧目的多形态演绎，快闪片段的灵动呈现，让"戏剧+消费"有了 新内涵。 在北京天桥艺术中心，作为"大戏看北京"的重磅剧目， 音乐剧《剧院魅影》正在上演，极具匠心的舞 台呈现，原汁原味的经典唱段，平均每5分钟一次的场景切换，为观众带来震撼视听体验 。 此外，《风雪夜归人》《陈塘关声学疑云》等剧目用快闪方式演绎了别样风情。当然，剧目之外的文创 及非遗手作摊位也让观众流连忘返，"戏剧护照"集章体验、戏剧角色妆造等互动项目让文化消费更多 元，仅活动首日就吸引约2万名观众到场体验。 从12月份开始，舞台剧、音乐剧、京剧等数十种剧目将成为"大戏看北京"的主角。 转载请注明央视财经 编辑：令文芳 中国东方歌舞团有限公司副总经理 何鹏：包含戏曲、海外大戏、上演的《歌剧魅影》等引进的海外大 戏，通过这样一个场景，增强大家可乐、可想、可购的消费场景。 ...

Core Viewpoint - The company reported strong revenue growth in FY26H1, driven by performance in live events and IP derivative businesses, despite some challenges in profit margins and specific segments [4][5][6]. Group 1: Financial Performance - The company achieved revenue of 4.05 billion RMB in FY26H1, representing a year-over-year increase of 33% [4]. - Gross profit reached 1.44 billion RMB, with a year-over-year growth of 9.7%, resulting in a gross margin of 35.7%, which is a decline of 7.4 percentage points compared to the previous year [4]. - Adjusted EBITA was 550 million RMB, down 14% year-over-year, but up 14% compared to FY25H1 after excluding a one-time gain of 160 million RMB [4]. - Net profit attributable to shareholders was 520 million RMB, reflecting a significant year-over-year increase of 54% [4]. Group 2: Business Segments - Revenue from performance content and technology business was 1.339 billion RMB, up 15% year-over-year, with segment performance at approximately 754 million RMB, a 5% increase [5]. - The ticketing business saw a 17% increase in user engagement, with over 2,500 large events serviced, a 19% increase in the number of events compared to the previous year [5]. - The IP derivative business generated 1.16 billion RMB in revenue, a remarkable year-over-year growth of 105%, with segment performance at 235 million RMB, up 44% [5]. - The film content and technology business reported revenue of 1.064 billion RMB, down 15% year-over-year, as the company adopted a cautious strategy focusing on low-risk, high-quality content [5]. - The drama production segment achieved revenue of 484 million RMB, with a significant increase of 423 million RMB year-over-year, turning a profit [5]. Group 3: Cost Management - The company reported a gross profit of 1.444 billion RMB, with sales and marketing expenses of 332 million RMB, reflecting a 1% year-over-year increase and a decrease in expense ratio from 11% to 8% [6]. - Management expenses were 669 million RMB, up 12% year-over-year, primarily due to increased operational costs associated with business growth [6].

Core Insights - Damai Entertainment reported a total revenue of approximately RMB 4.047 billion for the fiscal year ending September 30, 2025, representing a year-on-year growth of 33% [1] - The company's net profit attributable to shareholders was approximately RMB 520 million, showing a year-on-year increase of 54% [1] - The performance of the live content and technology business, along with the IP derivative business, were highlighted as significant growth drivers [1] Revenue Breakdown - Revenue from the live content and technology business reached RMB 1.339 billion, marking a year-on-year growth of 15% [1] - The IP derivative business generated revenue of RMB 1.16 billion, experiencing a substantial year-on-year growth of 105% [1][2] - The core business, Aliyu, saw its revenue more than double, indicating robust growth in the IP retail brand operation sector [1] Market Position and Performance - The total transaction volume (GMV) on the Damai platform remained stable, maintaining its leading position in the industry [1] - During the reporting period, Damai successfully completed over 2,500 large-scale live performances, with a year-on-year increase of 19% in service sessions [1] - The user base of the Damai platform has reached 300 million, with connections to over 12,000 cinemas, 20,000 venues, and 100,000 popular attractions [1] Film and TV Production - In the film technology sector, the market share of Taopiaopiao remained stable, and the Lighthouse AI platform provided comprehensive services across the film production chain [2] - Damai's film "Chasing the Wind" achieved the third highest box office in the summer of 2025 [2] - The company has over 20 projects in its drama studio pipeline, with revenue from drama production reaching approximately RMB 484 million, reflecting a year-on-year increase of about RMB 4.23 million [2] Strategic Outlook - The president of Damai Entertainment, Li Jie, emphasized the benefits derived from the thriving offline entertainment market and the company's diversified business layout across various sectors [2] - The company has strategically built multiple growth engines to ensure stable overall performance [2]