Core Viewpoint - The film industry is experiencing a rebound, with Huayi Brothers seeing a rise of over 10% in stock price, alongside other companies in the sector such as Jinyi Films, Happiness Blue Sea, Hengdian Film, and Bona Film [1] Group 1: Industry Performance - The film sector showed signs of recovery with significant stock price increases among key players [1] - As of December 28, 2025, the total box office for the holiday season (November 28 to December 31) reached 5.245 billion yuan, including pre-sales [1]

Group 1 - The stock price of Emperor Culture Industry (00491.HK) increased by 8.82% [1] - The stock price of DaMai Entertainment (01060.HK) rose by 4.65% [1] - The stock price of Huanxi Media (01003.HK) saw an increase of 1.59% [1]

Group 1: Cultural Heritage and Events - The successful application of the "Western Xia Tombs" for UNESCO World Heritage status highlights the multi-ethnic unity of the Chinese nation, bringing the total number of World Heritage sites in China to 60 [2] - The "Palace Museum" celebrated its centenary in 2025, showcasing its role as a witness to the continuity and innovation of Chinese civilization through a major exhibition featuring 200 artifacts [5][6] - The year 2025 marks the 80th anniversary of the victory in the Chinese People's War of Resistance against Japanese Aggression, with a series of films that resonate with contemporary audiences and reflect on historical events [8][9] Group 2: New Cultural Trends - The concept of "New Public Literature" emerged, allowing ordinary individuals to participate in literary creation, thus reshaping the cultural landscape [10][11][12] - The protection of intangible cultural heritage (ICH) has seen significant achievements, with over 325 new national-level ICH projects and 942 new inheritors recognized during the "14th Five-Year Plan" period [14][16] - The rise of AI as a creative partner in cultural production has transformed the landscape, with AI tools becoming integral to various creative processes, while also raising concerns about originality and ethical implications [18][19] Group 3: Animation and Entertainment - Domestic animation achieved record box office success in 2025, with total earnings surpassing 25 billion yuan, showcasing a mature artistic expression and emotional connection with audiences [20][21][22] - Comedy programs have gained popularity, reflecting real-life experiences and providing emotional relief for young audiences, thus redefining the value of comedy in contemporary culture [27][28][30] Group 4: Cultural Consumption and Tourism - The "Su Super" amateur football league has significantly impacted cultural tourism in Jiangsu province, generating substantial economic activity and reshaping youth engagement with local culture [23][24][26] - The trend of experiential cultural consumption has emerged, with events and activities becoming central to tourism, as people seek unique cultural memories through participation [25][26] Group 5: Emotional Connection through Cultural Products - The rise of "trendy toys" has captured the attention of young consumers, with products like Labubu becoming emotional symbols and reflecting a shift towards emotional consumption [31][32][34] - The integration of traditional culture into trendy toys has resonated with young people, creating a unique blend of cultural appreciation and emotional fulfillment [33][34]

2025年12月 L √2025中国绿氢产业大会12月30日在北 2 12月30日收盘起，上期所黄金、白银 涨跌停板幅度调整为15%，同时调整保证 (3)"Physical AI第一股"五一视界12月30 所挂牌上市 4 美国10月S&P/CS20座大城市房价指数 5 美国12月芝加哥PMI数据将公布 1 隔夜市场 美股三大指数均小幅收跌，道指跌0.51%，纳指跌0.5%，标普500指数跌0.35%；大型科技股多数下跌，特斯拉跌超3%，英伟达跌超1%，微软、奈飞、亚马 逊、Meta小幅下跌；英特尔涨超1%，苹果、谷歌小幅上涨；贵金属板块跌幅居前，哈莫尼黄金跌超8%，泛美白银、金罗斯黄金超跌5%。纳斯达克中国金 龙指数跌0.67%，中概股多数下跌，蔚来涨超5%，爱奇艺、百度涨超1%；阿里巴巴跌超2%，名创优品跌近2%，哔哩哔哩跌超1%。 欧洲三大股指收盘涨跌不一，德国DAX指数涨0.05%报24351.12点，法国CAC40指数涨0.1%报8112.02点，英国富时100指数跌0.04%报9866.53点。 国际油价大幅走高，截至发稿时，美油主力合约涨2.01%，报57.87美元/桶；布伦特原油主力合约涨1.9 ...

元旦临近，各地街头巷尾装饰一新，消费市场持续升温，节日的氛围越来越浓。 山东日照：花卉市场人气旺 年宵花销售火热 在山东日照的莒州花卉市场，一大早就已是人声鼎沸。一些摊位前，象征"鸿运当头"的红掌、寓意"幸福到来"的蝴蝶兰等热门年宵花，被放在了最显眼的位 置。消费者在花海中，精心挑选自己心仪的年宵花。 上海：各大商圈焕然一新 激发新春消费潜力 元旦假期临近，上海各大商圈焕然一新，开展"跨年迎新消费季"活动，陆续推出新春美食季、入境消费赠礼季等一系列活动，通过满减赠券、发票抽奖等， 进一步激发新春消费潜力。 在广东广州云台花园，新年花卉景观布置完成，各种喜庆的新年装饰随处可见，景观格外醒目。十五运会和残特奥会吉祥物"喜洋洋""乐融融"在公园摆放， 吸引市民和游客前来打卡拍照。 江苏无锡：街头巷尾换"新妆" 迎接新年到来 元旦将至，在江苏无锡，街头巷尾已悄然换上"新妆"，处处洋溢着浓厚温馨的新年氛围。 在河北邯郸，全长1.8公里的邯郸道历史文化街区灯火璀璨，古风灯笼错落摇曳，特色成语灯帘相映成趣，浓郁的节日喜庆氛围扑面而来。夜幕降临，数百 架无人机腾空而起，以夜空为画布，精准勾勒出和氏璧、邯郸古建轮廓等城市标志性 ...

Core Insights - Shanghai is transforming into a cultural and creative industry leader, aiming to establish itself as an internationally influential center by 2035 through initiatives like the "Cultural and Creative 50 Policies" [4][12] - The gaming and esports sectors are emerging as significant contributors to Shanghai's cultural identity, accounting for 17.8% of national offline esports events and nearly half of the industry's revenue [4][15] Group 1: Economic Contribution - By 2016, the added value of Shanghai's cultural and creative industry accounted for 12% of the city's GDP, consistently outpacing overall economic growth [4][10] - The gaming market in Shanghai is projected to reach approximately 155.8 billion yuan in 2024, representing nearly half of China's total gaming market [15][20] Group 2: Key Drivers - The success of Shanghai's cultural and creative industry is attributed to three key factors: originality, cultural openness, and sustainable business models [4][6] - The "first-release economy" has been a significant driver, with 848 new flagship stores established in 2025, making Shanghai a preferred location for brand launches [6][10] Group 3: Industry Ecosystem - Shanghai's cultural creative parks have evolved through four stages: spontaneous gathering, rapid growth, mature development, and transformation [9][11] - The integration of technology and content, particularly in gaming and esports, is seen as a future growth area, with initiatives to combine VR technology with gaming content [20][22] Group 4: Policy Support - Recent policies, such as the "Game Ten Measures," aim to enhance the gaming IP ecosystem and support local and foreign gaming enterprises [20][22] - The city is also focusing on deepening collaboration with the Yangtze River Delta region to leverage its strengths in international engagement and copyright protection [22]

每经记者｜丁舟洋 每经编辑｜唐元 2025年即将走过，对于电影行业的不易，所有从业者感同身受。 其中《炸点》还在现场举办了启动仪式，这部影片不仅在上述推优扶持计划中收获资深监制、演员指 导、现金扶持等资源，还将全程在成都拍摄，并在大邑县重点取景。这部聚焦聋哑人舞蹈的影片，或将 成为第二个《小小的我》。 "在这样的时间里，一群电影人奔赴成都、奔赴安仁，为电影的热爱而战、为电影的尊严而战，一路走 来，从看见种子到开花结果，我们的电影同仁很拼、安仁对我们很友好，这是双向奔赴，让我们不想走 了。"中国电影评论学会产业专委会副会长兼秘书长朱玉卿说。 近日，在成都大邑县安仁古镇举办的中国（成都）电影推优扶持计划路演大会、颁奖典礼上，20强项目 代表接连亮相，在导演李少红、丁晟，编剧袁媛等7位专业评审的现场评议下，《炸点》等10个优秀项 目最终脱颖而出。 每日经济新闻作为中国（成都）电影推优扶持计划的深度合作媒体，全程关注这一计划。 图片来源：主办方提供 影视产业的"成都制造"和"成都故事" "2024年9月，我们开始策划中国（成都）电影推优扶持计划；2025年3月，饶会长（中国电影评论学会 会长饶曙光）第一次发布这个计划 ...

Core Viewpoint - The article highlights the increasing popularity of movie pre-sales for the New Year's Eve and New Year's Day releases, emphasizing the diverse themes and genres of films available for audiences to enjoy as they transition into the new year [1]. Group 1: Upcoming Films - "The Killing" directed by Ke Wenli features a suspenseful crime narrative involving a character who witnessed a murder fifteen years ago, collaborating with a determined police officer to uncover a series of anonymous killings, set to release on December 31, 2025 [3]. - "The Battlefield" directed by Shen Ao tells the story of a couple who are kidnapped by a terrorist organization while on a mission abroad, focusing on their struggle for survival over 105 days, also releasing on December 31, 2025 [6]. - "The Legend of the Qin" directed by Wu Xuanhui and Li Zhenlong continues the story from the classic 2001 series, featuring a time-traveling plot where historical events are threatened, set for release on December 31, 2025 [7][8]. - "The Days of Us" directed by Gong Zhaoping presents a love story set in a parallel universe after a major earthquake, where two young people strive to meet on the last day of 2025, also releasing on December 31, 2025 [10][11]. - "Home Sweet Home" directed by Li Taixin features Jackie Chan in a role that challenges him to portray a character with Alzheimer's, focusing on family secrets and relationships, set to release on January 1, 2026 [13]. - "SpongeBob: Deep Sea Adventure" directed by Derek Drymon is an animated film where SpongeBob embarks on an adventure to prove himself, suitable for family viewing, releasing on January 1, 2026 [16][17]. - The "2026 Vienna New Year Concert Cinema Live" will be conducted by Yannick Nézet-Séguin, featuring the Vienna Philharmonic Orchestra, offering a unique cinematic experience for music lovers on January 1, 2026 [18].

Core Viewpoint - Huayi Brothers is facing multiple crises, including significant shareholder changes and ongoing financial losses, raising concerns about its control stability and future prospects [1][2]. Group 1: Shareholder Changes - Alibaba's venture capital arm, Alibaba Chuangtou, reduced its stake in Huayi Brothers by 1.064%, dropping its holding below 5%, which may affect the company's control dynamics [3][4]. - The timing of the share reduction coincides with the impending judicial auction of shares held by the company's controlling shareholder, Wang Zhongjun, which could further destabilize control [4][6]. Group 2: Financial Performance - Huayi Brothers has reported continuous losses since 2018, with a cumulative net profit loss exceeding 9.2 billion yuan from 2018 to 2024 [7]. - The company's revenue has drastically declined, with a reported income of only 4.65 million yuan in 2024, down 88.2% from its peak in 2017 [8]. - For the first three quarters of this year, the company experienced a 46.08% drop in revenue, resulting in a net profit loss of 1.139 billion yuan, a 168.15% decline year-on-year [9]. Group 3: Liquidity Crisis - Huayi Brothers' liquidity situation is critical, with an asset-liability ratio soaring to 87.69% and a short-term debt gap exceeding 1.3 billion yuan [10]. - The company has been attempting to alleviate its debt burden through asset sales and a delayed capital increase plan, which has seen its target amount reduced to 800 million yuan [11]. - As of December 10, the company reported overdue debts totaling 52.5 million yuan, with multiple bank accounts frozen due to financial distress [12].

Core Insights - The Chinese film and television industry in 2025 is characterized by multiple intertwined trends, including resilience in traditional series, rapid evolution of micro-short dramas, and the unprecedented integration of artificial intelligence in creative and production processes [1] Group 1: Traditional Series - Despite facing various pressures, the traditional film and television industry demonstrates strong resilience through narrative innovation and thematic breakthroughs, with 469 long drama productions reported by the Hengdian Film and Television Cultural Industry Cluster Management Committee, remaining stable compared to the previous year [5] - The "Hengdian Index" indicates a continuous recovery in the economic benefit index of TV dramas, reflecting improved profitability driven by quality enhancement and cost control [5] - The focus on high-quality storytelling is emphasized by industry leaders, advocating for a "script-centered" approach to ensure that the essence of the story is prioritized in production [6][7] Group 2: Micro-Short Dramas - The micro-short drama sector is expanding, with a diverse range of themes emerging, including inspirational stories and narratives reflecting national sentiments, as seen in successful productions like "Adventurer Langya" [8][11] - The industry consensus is shifting towards a broader thematic exploration, moving beyond mere entertainment to address social issues and convey positive values, as demonstrated by works like "Wild Girl" and "This Life's Fate" [11] - The micro-short drama industry has created over 1.33 million jobs across the entire production chain, indicating its significant impact on employment and its potential for further integration with cultural promotion and legal education [11] Group 3: Technological Empowerment - The integration of AI technology is transforming the film and television industry, enabling rapid production processes that previously required extensive manual effort, as illustrated by the use of AI in creating complex visual scenes [12][13] - Major industry players are exploring innovative applications of AI, such as seamless integration of live-action footage with AI-generated scenes, which helps reduce costs and enhance production efficiency [15] - The establishment of the "Hengdian Film and Television Large Model" and the AI Film and Television Ecological Service Center signifies a systematic approach to leveraging AI across various production stages, enhancing creative potential and artistic expression [15][17]