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的內容概不負責，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份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 9857 自願公告 業務發展最新情況 本公告乃經檸萌影視傳媒有限公司（「本公司」或「檸萌影視」，連同其附屬公司及併表聯屬 實體統稱「本集團」）自願作出，旨在向本公司股東及潛在投資者更新本集團之最新業務發 展。 本公司董事會（「董事會」）欣然宣佈，由檸萌影視及旗下青檸萌、騰訊視頻出品的純愛奇 譚《子夜歸》，計劃將於2025年8月18日起登陸騰訊視頻全網獨播。該劇由柳樾和孫臨編 劇，侶皓吉吉執導，齊帥擔任總製片人，吳若妍擔任製片人，許凱、田曦薇領銜主演。 承董事會命 檸萌影視傳媒有限公司 董事長 Linmon Media Limited 中國，北京 2025年8月12日 於本公告日期，本公司執行董事為蘇曉先生、陳菲女士及徐曉鷗女士；本公司非執行董 事為王娟女士及張嶸先生；本公司獨立非執行董事為蔣昌建先生、唐松蓮女士及梁寧女 士。 蘇曉 ...

Core Insights - The rise of micro-short dramas has transformed Zhengzhou into a significant production base, surpassing traditional hubs like Zhejiang Hengdian, with over 800 production companies and a workforce of 30,000 [1][3] - By the end of 2024, the user base for micro-short dramas in China is expected to reach 662 million, exceeding that of food delivery and ride-hailing services [1] - Zhengzhou's unique production model allows for rapid content creation, with the ability to produce 10 short dramas in just 7 days, contrasting with the traditional model that takes years for a single long drama [3] Industry Development - Zhengzhou's strategic location and transportation infrastructure, including a high-speed rail network, facilitate resource flow and industry growth, creating a vibrant economic ecosystem [2] - The city leverages its rich cultural history and diverse filming locations to enhance its appeal as a filming destination, integrating traditional and modern elements [2][3] - Government support, including policies aimed at promoting the micro-short drama industry, is driving the sector's growth and job creation [3] Challenges and Opportunities - Despite the rapid growth, the micro-short drama industry faces challenges such as content homogenization and a lack of originality in scriptwriting, which could hinder long-term sustainability [4] - Zhengzhou is actively seeking to address these issues by promoting unique local cultural themes and enhancing the quality of content produced [4] - The industry is at a critical juncture, where strategic vision and adaptability will determine its future success and reputation as a leading production hub [4]

Core Viewpoint - The popularity of contemporary romance dramas has significantly declined, as evidenced by the sharp drop in Douban ratings and the number of ratings over recent years [1][3][4]. Group 1: Audience Engagement and Ratings - The most popular contemporary romance dramas in recent years have seen a drastic decrease in audience engagement, with the highest-rated show in 2024, "The Story of Roses," garnering only 276,000 ratings, down from 532,000 for "You Are My Glory" in 2021 [2]. - The current leading contemporary romance drama, "Filter," has only 191,000 ratings, indicating a severe decline in viewer interest [2]. Group 2: Audience Discontent - Audience dissatisfaction with contemporary romance dramas stems from several factors, including superficial content, lack of relatable female characters, and a general sense that these dramas fail to resonate with modern viewers [4][23]. - The narrative focus on "first love" has remained unchanged over the past decade, leading to a perception that these stories are repetitive and lack depth [10][12]. Group 3: Changing Themes in Romance - The traditional themes of "first love" and "second marriage" are becoming less appealing to viewers, particularly as societal attitudes towards marriage evolve, with many young women now viewing marriage as less of a life goal [20][23]. - Recent data shows a significant decline in marriage registrations, with a drop of 1.57 million registrations in 2024 compared to 2023, highlighting a shift in societal norms [22]. Group 4: Future Directions for Content Creation - There is a pressing need for contemporary romance dramas to adapt to changing audience expectations by exploring more mature and realistic portrayals of love and relationships [31][34]. - Successful narratives should focus on personal growth and the complexities of relationships rather than adhering to outdated romantic tropes [30][35].

Core Insights - The overall video platform market is experiencing slow cash flow, with production companies facing significant delays in payment, which can jeopardize their financial stability [1][4] - Despite a resurgence in the film market, major drama production companies are reporting poor financial performance, with some companies experiencing profit declines of over 50% [2][3] Financial Performance - In the first half of the year, only a few drama companies like Ciweng Media and Litian Film reported revenue growth, while many leading firms faced losses [2] - For instance, Daocaoxiong Entertainment's revenue decreased by 0.3% to 462 million yuan, with net profit plummeting by 94.7% to 3.9 million yuan due to reduced procurement budgets from video platforms [2] - A-share companies like Bainacheng and Tangde Film also reported losses, with Bainacheng's revenue down 28.34% to 115 million yuan and losses expanding to 36.05 million yuan [2] Market Dynamics - The drama market has shifted from being centered around film companies to video platforms, which now dominate content production and dictate profit margins [3][4] - The profit margins for customized dramas are low, typically around 10% to 20%, making it challenging for production companies to sustain profitability [3][4] Production Challenges - Customized dramas are often a "one-time deal," limiting the potential for additional revenue streams such as reruns or licensing, which were previously available [4] - The market for licensed dramas is shrinking, with platforms like iQIYI reducing content costs by 20% in 2022 [4] Industry Adaptation - Companies are actively seeking to improve operations, with some focusing on digital and industrialized content production systems to enhance project profitability [8] - The China TV Production Industry Association is promoting new technologies and models to address industry challenges, including the development of the "Nanhai Platform" for direct user engagement [8][9] Future Outlook - The "Nanhai Platform" aims to provide a transparent revenue model using blockchain technology, allowing production companies to regain control over their content [9] - However, the implementation and impact of this new platform will take time to assess, and companies must focus on content quality to survive in a competitive landscape [9][10]

Group 1 - The core viewpoint of the articles highlights the booming demand for micro-short dramas in China's film industry, particularly in Hengdian Film City, which remains a central hub for production despite the emergence of new filming bases [2][7][8] - Hengdian Film City has received over 2,300 micro-short drama crews in the first seven months of this year, surpassing the total for the entire year of 2024, indicating a significant increase in production activity [2][3] - The micro-short drama market in China has seen substantial growth, with market sizes increasing from 368 million yuan in 2021 to 505 billion yuan in 2024, surpassing box office revenues for films for the first time [7][8] Group 2 - The production quality of micro-short dramas is improving, with increased investment per production, rising from approximately 300,000 yuan to around 800,000 to 1.5 million yuan, reflecting a trend towards higher quality content [7][8] - There is a shortage of actors, particularly skilled ones, in Hengdian, leading to efforts by the local actors' guild to recruit more talent and manage the supply for the increasing number of productions [4][5][6] - The establishment of a dedicated vertical drama operation center in Hengdian aims to coordinate the influx of micro-short drama crews, managing logistics and scene arrangements to meet the high demand [3][5]

Core Insights - In the first seven months of this year, Hengdian World Studios has hosted over 2,300 vertical screen micro-short drama production teams, surpassing the total for the entire year of 2024 [1] - The influx of production teams, combined with the increasing production requirements for micro-short dramas, has led to a "supply-demand imbalance" for directors, actors, and extras in Hengdian [1] Industry Summary - The number of micro-short drama production teams in Hengdian has significantly increased, indicating a growing trend in this segment of the entertainment industry [1] - The demand for talent in the micro-short drama sector is rising, highlighting potential opportunities for investment in training and talent acquisition [1]

产业的发展，还得益于独特的生产模式。影视拍摄产业集群，前有浙江横店、河北涿州。失去了先发优 势，如何弯道超车？横店3个月产出1部长剧，郑州7天可交出10部短剧，甚至有从业者坦言："传统影视 剧一部三年，郑州团队已经迭代了300个爆款套路。"不搞同质化竞争，郑州有鲜明的产业发展思路。优 化闲置资源，卖建材的商铺、摆瓷砖的展厅，摇身一变就是"总裁办公室""重症监护室"；提升运营效 率，"早上写剧本、下午拍摄、晚上剪辑，第二天就能上线"，制作成本大幅降低。人有我优，正是"竖 店"能与横店相媲美的底气。 此外，"有形之手"也在"四两拨千斤"。去年，《关于郑州市加快推进网络微短剧产业高质量发展扶持政 策的意见》发布；今年，河南省政府工作报告明确提出"支持郑州打造'微短剧创作之都'"。推动产业升 级、创造就业岗位、促进文旅融合……不断放大用好行业红利，"竖店"是认真的。 只不过，微短剧"量大管饱"，也在饱受同质化、荒诞化争议，郑州同样面临高光之下的隐忧。比如，行 业尚处于野蛮生长状态，企业各自为战；产业链集中在生产制作环节，在剧本原创等高价值领域优势不 明显，等等。如何避免"旺火"成为"虚火"？郑州也在探索破局之道。在今 ...

Group 1 - The core viewpoint of the articles highlights the booming demand for micro-short dramas in China's film industry, particularly in Hengdian Film City, which has become a central hub for such productions [1][2][3] - Hengdian Film City has received over 2,300 micro-short drama crews in the first seven months of this year, surpassing the total for the entire year of 2024, indicating a significant increase in production activity [2][3] - The micro-short drama market in China has seen substantial growth, with market sizes increasing from 368 million yuan in 2021 to 37.39 billion yuan in 2023, and projected to reach 50.5 billion yuan in 2024, surpassing box office revenues for films [7][8] Group 2 - The supply of actors, especially extras, is currently insufficient to meet the demands of the rapidly increasing number of micro-short drama productions, leading to a competitive environment for talent acquisition [4][5][6] - Hengdian Film City has established a dedicated operation center for micro-short dramas to manage the influx of crews and coordinate resources effectively [3][5] - The quality of micro-short dramas is improving, with production costs rising from approximately 300,000 yuan to around 800,000 to 1.5 million yuan per episode, reflecting a trend towards higher production values [7][8]

Core Viewpoint - The rapidly expanding micro-drama market is attracting significant interest from content creators and major film and television companies in China, with platforms like iQIYI, Tencent Video, Douyin, and Kuaishou actively engaging in this sector [1][2]. Group 1: Market Dynamics - The micro-drama market has transitioned from skepticism to acceptance among industry players, with many companies now investing heavily in this format [1]. - iQIYI's founder publicly advocated for the industry to embrace micro-dramas, leading to increased investment in this area [1]. - A-share companies are also significantly investing in micro-dramas, with some viewing it as a key business transformation direction [1]. Group 2: Company Involvement - Large film and television companies are entering the micro-drama space, leveraging their financial strength and production capabilities to enhance content quality [2]. - The involvement of major companies is crucial for improving the overall quality of micro-dramas and changing public perception of them as "poorly made" [2]. Group 3: Market Potential - By 2024, the market size of micro-dramas in China has surpassed that of box office revenues, with user numbers approaching 600 million [3]. - To sustain growth in this large and rapidly expanding market, companies need to focus on producing high-quality micro-dramas rather than solely relying on attracting users through trending topics [3].

1、中央结算公司：简化境外央行类机构开户材料 重要程度：★★★★★ 8月11日，中央国债登记结算有限责任公司(简称中央结算公司)发布关于简化境外央行类机构开户材料的通 知。通知称，为落实中国人民银行相关要求，进一步简化境外央行类机构入市投资流程，中央结算公司决 定，于即日起不再要求境外央行类机构提供协议签署承诺书。 外交部发言人林剑表示，具体问题请向中方主管部门询问。希望美方同中方一道，按照两国元首通话达成 的重要共识，发挥好中美经贸磋商机制作用，在平等、尊重、互惠的基础上争取积极成果。 4、财政部、税务总局就增值税法实施条例公开征求意见 重要程度：★★★ 2、利好传来!机器人赛道迎来重磅政策，六大领域应用赋能 重要程度：★★★★ 8月11日，杭州市司法局发布公开征求《杭州市促进具身智能机器人产业发展条例(草案)》意见的公告，通 过制度设计规范发展秩序、优化产业生态、强化要素保障，全面推动具身智能机器人产业实现高质量发 展。 值得一提的是，《条例》提到，促进具身智能机器人在工业制造、农业生产、医疗健康、教育培训、特种 作业、公共安全等重点领域场景的应用推广。 3、中方是否收到美方延长关税暂停期限的最终决定?外 ...