格隆汇8月15日丨联众(06899.HK)公告，公司联营公司Allied Gaming&Entertainment,Inc.("AGAE")已正式 确认，通过Flywheel Media参与投资电影《愤怒的小鸟3》的制作，FlywheelMedia是一家致力于创作能 在全球范围内为观众带来娱乐和启发的电影作品的电影制作公司。本次投资符合本公司及AGAE的全球 战略规划，旨在通过布局优质IP，拓展文化娱乐产业价值链。 《愤怒的小鸟3》计划于2027年1月29日首映，由派拉蒙影业负责全球发行，发行范围超过100个国家和 地区，包括中国内地、北美、欧洲等核心市场。此前，《愤怒的小鸟》系列电影前两部在全球累计票房 超过5亿美元，为第三部的制作奠定了良好的基础。 AGAE的本次投资也同时进一步巩固了公司在泛娱乐领域的资源整合和协同能力，为后续IP衍生业务(如 游戏联动、游戏IP合作)奠定了基础。电影上映后产生的票房收益也将对AGAE及公司未来财务表现产生 积极影响，并为公司旗下游戏、数字娱乐及线下衍生业务创造协同价值。 董事会认为，AGAE作为公司联营公司的此次投资亦符合公司"娱乐+IP生态"的全球战略方向，有望提 升 ...

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倚賴該等內容而引致之任何損 失承擔任何責任。 OURGAME INTERNATIONAL HOLDINGS LIMITED 聯 眾 國 際 控 股 有 限 公 司* （ 根據開曼群島法律註冊成立之有限公司） （股份代號：6899） 自願公告 聯營公司參與投資電影《憤怒的小鳥3》 本公告乃由聯眾國際控股有限公司（「本公司」，連同其附屬公司稱為「本集團」）自願作出， 目的是讓本公司股東和潛在投資者了解本集團的最新發展。 本 公 司 董 事（「 董 事 」）會（「 董 事 會 」）欣 然 宣 佈 ， 本 公 司 之 聯 營 公 司 Allied Gaming & Entertainment, Inc.（「AGAE」）已正式確認，通過Flywheel Media參與投資電影《憤怒的小鳥3》 的製作，Flywheel Media是一家致力於創作能在全球範圍內為觀眾帶來娛樂和啟發的電影作 品 的 電 影 製 作 公 司 。 本 次 投 資 符 合 本 公 司 ...

智通财经APP讯，中国创意控股(08368)公布，该集团预期于2025年上半年取得亏损约600万元，而2024 年上半年溢利约100万元。业绩下滑乃主要由于连续剧╱电影制作及相关服务及电影版权投资分部项下 收益减少所致。 ...

前不久，央视出品暑假档剧集《扫毒风暴》首播正式收官，并同步在其他平台上映。 收视率表现上，《扫毒风暴》亦不负众望。截至2025年8月，其在央视八套的收视率峰值达2.8568%， 腾讯视频站内热度峰值28808，全网播放量累计超7亿，成为暑期档现象级刑侦剧。豆瓣评分亦从开分 7.9升至8.0，收官后仍占据剧集会员拉新榜第一。 目前，尽管首播已结局，《扫毒风暴》在各社交平台的讨论热度并未间断。追剧观众直呼过瘾的同时， 更感叹"后劲太大"。且有不少网友在公开社交平台直言，"大毒枭卢少骅的高智商犯罪、警方为缉毒与 毒贩的生死角逐，烧脑、刺激、伏笔埋得够深……值得二刷！" 从网友讨论度来看，在剧集接近结尾，"一张糖纸"对剧情的反转，在观众之间的讨论度不断上升。 一张小小的糖纸为何能成为大毒枭卢少骅败落的最强助攻？在短剧横行的当下，爆款长剧的细节刻画、 以质取胜，向社会传递出品质作品的长尾价值、以及对行业的正向引导的深远意义。 一颗糖， 丰满人物血肉 正义与品质才是社会共谋 《扫毒风暴》除了通过情节，如对"糖纸"的"埋线"，来刻画人物细节外，亦传递出正义终将战胜邪恶、 品质打磨才是行业真谛的价值观。 从故事背景来看，卢少 ...

Group 1 - The stock of Huaxi Media (01003) has fallen over 10%, with a cumulative decline of more than 50% since the end of July, reaching a low of 0.223 HKD [1] - The company announced the resignation of Dong Ping as executive director effective July 27, while Hu Hui has been appointed as the new executive director [1] - Hu Hui has been with the company since 2014 and is familiar with its operations, having produced several films including "The Stage" and "The Sauce Garden Case" [1] Group 2 - The film "The Sauce Garden Case," featuring top stars like Zhang Ziyi and Yang Mi, was released on June 21 and has grossed 375 million HKD to date, but has a low Douban rating of 5.7 [1] - Another film, "The Stage," was released on July 25 and has currently grossed 389 million HKD [1]

Core Insights - The summer movie market for 2025 is experiencing a surge in popularity, with the film "Wang Wang Mountain Little Monster" setting a new box office record for Chinese animated films [1][2] - As of August 13, 2025, the total box office for the summer season reached 9.06 billion yuan, with "Nanjing Photo Studio" leading at 2.355 billion yuan, while "Wang Wang Mountain Little Monster" achieved 716 million yuan [1] Film Performance - "Wang Wang Mountain Little Monster" has surpassed the box office of similar films, achieving over 700 million yuan and breaking the previous record held by "Big Fish & Begonia" at 573 million yuan [2] - The film's narrative follows a small pig demon and his friends on a journey, resonating well with audiences and leading to strong emotional engagement [2] Exhibition and Engagement - A themed exhibition for "Wang Wang Mountain Little Monster" has been launched at the Zhejiang Provincial Museum, attracting over 5,000 visitors in its first week [3] Merchandise and Consumer Trends - The film's success has led to a surge in sales of related merchandise, with 207 derivative products launched, including plush toys and stationery [4] - Sales of anime derivative products in Hangzhou increased by 37% during the summer season, with "Wang Wang Mountain Little Monster" contributing nearly 40% of this growth [5] - Online sales are also thriving, with significant engagement on e-commerce platforms and social media, including over 2.1 billion discussions related to the film [5]

Core Insights - In the first half of 2025, the company reported a revenue of 3.19 billion yuan, a year-on-year decline of 23.9%, primarily due to a 48.4% decrease in copyright operation and licensing revenue, attributed to the development cycle and scheduling of film and television projects [2][3] - Despite the revenue decline, the company's net profit attributable to shareholders reached 850 million yuan, a year-on-year increase of 68.5%, driven by a reduction in costs [5] - The company's CEO emphasized the significant commercialization potential of IP and the importance of quickly responding to user demands in the derivative product business [2] Revenue Breakdown - The company's online business revenue for the first half of 2025 was 1.985 billion yuan, accounting for 62.2% of total revenue, with a year-on-year growth of 2.3% [2] - The copyright operation and licensing revenue for the first half of 2025 was 1.205 billion yuan, a decrease of 46.4% year-on-year, with the main revenue from copyright operations dropping 48.4% to 1.138 billion yuan [3][4] IP Derivative Products - The GMV of IP derivative products reached 480 million yuan in the first half of 2025, nearing the 500 million yuan target for the entire year of 2024 [8] - The company has seen strong performance from its top IPs, including "Full-Time Master" and "Fox Demon Little Red," and is planning to develop customized derivative products for mid-tier IPs [8][9] - The company has established an integrated online and offline channel network for its derivative products and is continuously expanding [8] Cost Management - The company's cost of revenue decreased by 25.1% year-on-year to 1.578 billion yuan, mainly due to the absence of new film and television projects, which resulted in no corresponding production costs [5] - Sales and marketing expenses decreased by 20.4% to 922 million yuan, primarily due to reduced marketing and promotional expenses related to film and television projects [5] Market Position and Future Outlook - The company is actively investing in the card game and plush toy sectors to enhance its market position and capitalize on the growing demand for derivative products [9] - Analysts suggest that while the company has made significant strides in the IP derivative market, the current GMV is still modest compared to the broader market potential, indicating a need for the company's IPs to gain greater influence beyond their original formats [9][10]

Core Viewpoint - Zhengzhou has emerged as the second-largest production center for micro-short dramas in China, surpassing Hengdian, with a government plan aiming for a market size of 10 billion yuan by 2027 [1][4]. Group 1: Industry Growth and Development - The micro-short drama industry in Zhengzhou is experiencing rapid growth, with the local market exceeding 2.3 billion yuan and an estimated 820 production companies operating in the area by 2024 [5][6]. - The production cycle for micro-short dramas is notably short, typically ranging from two to seven days, leading to a competitive environment for directors and filming locations [2][3]. - Zhengzhou's advantages include a large population, low labor costs, and rich historical and cultural resources, which have facilitated the establishment of multiple filming bases [4][5]. Group 2: Market Dynamics and Trends - The national micro-short drama user base is projected to reach 696 million by mid-2025, indicating a significant growth potential for the industry [6][7]. - Major film and media companies are increasingly investing in micro-short drama projects, with firms like Wanda Film and Mango TV expanding their operations in this sector [7]. - The industry is expected to face challenges such as content homogenization and a lack of professional talent, necessitating a shift towards higher quality productions [8][9]. Group 3: Government Initiatives and Policy Support - The Zhengzhou government has implemented a plan to enhance the micro-short drama industry, focusing on expanding market size, fostering innovation, and improving content quality [8][9]. - The plan includes initiatives to integrate micro-short dramas with local cultural tourism, creating new revenue streams and enhancing the city's brand [9][10]. - Zhengzhou's experience in revitalizing idle spaces for production purposes serves as a model for other regions looking to develop emerging industries [10].

Group 1 - The core viewpoint of the article highlights that Mao Geping (01318.HK) anticipates a mid-term net profit growth of 35.0% to 37.0% for the six months ending June 30, 2025, with expected revenue between RMB 25.7 billion and RMB 26.0 billion, representing a year-on-year increase of 30.4% to 31.9% [1] - The board attributes the growth in performance to the company's commitment to creating value for consumers, providing high-quality products and services, and enhancing brand recognition as a high-end brand, which translates into long-term business growth [1] Group 2 - China Unicom (00762.HK) reported a revenue exceeding RMB 200 billion for the first half of the year, reflecting a year-on-year growth of 1.5% [2] - Tencent Music-SW (01698.HK) showed steady growth in both revenue and profit in the second quarter, with an increase in the number of paying users and average revenue per paying user [2] - Wan Zhou International (00288.HK) reported a mid-term operating profit increase of 10.4% to USD 1.259 billion [2] - FIT HON TENG (06088.HK) achieved mid-term revenue of USD 2.305 billion, marking an 11.5% year-on-year increase [2] - Shanghai Industrial Environment (00807.HK) reported a net profit attributable to shareholders of RMB 344 million for the first half of the year, a 7.1% increase compared to the previous year [2]

Core Viewpoint - In the first half of 2025, the company reported a revenue decline of 23.9% year-on-year, while operating profit increased significantly by 92.7%, and net profit attributable to shareholders rose by 68.5% [1] Revenue Breakdown - The company's revenue is divided into two main segments: online business and copyright operation [1] - Online business revenue reached 1.99 billion yuan, a year-on-year increase of 2.3%, with self-owned platform products growing by 3.1% and Tencent product channel revenue declining by 25.6% [1] - The average monthly active users for self-owned platform products decreased by 2.5%, while the average monthly paying users increased by 4.5% to 9.2 million [1] - Revenue from copyright operation and other businesses was 1.2 billion yuan, a year-on-year decrease of 46.4%, primarily due to the development cycle and scheduling of film and television projects [2][4] Cost and Profitability - The cost of revenue decreased significantly, particularly in content production, which was 190 million yuan, less than one-third of the previous year's figure [4] - Excluding the impact of New Classics Media, the non-IFRS net profit attributable to shareholders was 550 million yuan, a year-on-year increase of 35.7% [4] IP and New Initiatives - The company's IP derivative business showed strong growth, with GMV reaching 480 million yuan, close to the total for the entire previous year [4] - The company is focusing on short dramas and has opened over 2,000 web novel IPs for high-quality short drama production [5] - The integration of AI into existing business is being explored, with the launch of an AI writing assistant that has increased author interaction by 40% [5] International Expansion - The overseas reading platform WebNovel saw a 38% year-on-year increase in revenue from AI-translated works, which now account for over 35% of total platform revenue [6] - As of June 30, 2025, WebNovel offered over 10,000 Chinese translated works and approximately 770,000 local original works, with AI-translated works making up 70% of the translated content [6]