从静悄悄拿下横店影城合作权到骨折价转让躺着赚钱的SM，再到前两天溢价接盘负债累累的影视城， 你有没有发现韩流正在悄悄加速回流，已经在中国快销声匿迹的韩流到底嗅到了什么信号？为什么让中 国文娱资本占这么大便宜也要拉中国公司入伙？难道"限韩令"真的开始松动了？ ...

Core Viewpoint - The article discusses the recent developments in China's economy and the AI industry, highlighting the potential for a stable performance in the A-share market following the National Day and Mid-Autumn Festival holidays, driven by positive economic indicators and upcoming policy expectations related to the 14th Five-Year Plan [1][8]. Economic and Policy Developments - During the holiday period, domestic travel data showed a stable increase, with a total of 1.77 billion trips made, reflecting a year-on-year growth of 5.2% [2]. - The manufacturing PMI for September was reported at 49.8%, indicating a slight recovery from August's 49.4% [3]. - Industrial profits for large-scale enterprises saw a significant year-on-year increase of 20.4% in August, compared to a cumulative growth of 0.9% from January to August [3][18]. Policy and Industry Updates - The Central Political Bureau held a meeting on September 29 to discuss major issues related to the 14th Five-Year Plan, with a subsequent plenary session scheduled for October 20-23 [4]. - The Ministry of Finance and the Ministry of Commerce issued a notice to support new consumption models and international consumption environment construction, targeting around 50 pilot cities [4]. - Several domestic AI companies announced new models and adaptations, indicating ongoing advancements in the AI sector [4][9]. Overseas Economic and Policy Context - The U.S. federal government experienced a shutdown, delaying the release of key economic data, including employment statistics [5]. - OpenAI announced collaborations with Samsung and SK Hynix, as well as a strategic partnership with AMD to deploy new AI chips starting in 2026 [6][14][15]. - A new round of tariffs in the U.S. took effect on October 1, affecting various imported goods, including a 100% tariff on all brand-name or patented drugs [7][16]. Market Outlook - The A-share market is expected to maintain a stable performance post-holiday, supported by positive travel data and industrial profit recovery, alongside the anticipation of policy developments related to the 14th Five-Year Plan [8]. - The market is currently in a consolidation phase, with potential for future upward trends contingent on new catalysts [8]. Industry Focus Areas - Key sectors to watch include AI computing and robotics, which are expected to remain attractive until a significant change in industry conditions occurs [9]. - Other sectors such as innovative pharmaceuticals, consumer electronics, and non-ferrous metals are also highlighted for their potential due to improving demand and supply dynamics [9]. - Industries like engineering machinery, power grid equipment, and aquaculture are noted for their favorable cost-performance ratio despite limited price increases [9].

10月9日，华谊兄弟跌5.02%，截至发稿，报2.46元/股，成交9312.14万元，换手率1.49%，总市值68.25 亿元。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 数据显示，广发基金旗下1只基金位居华谊兄弟十大流通股东。广发中证1000ETF（560010）二季度新 进十大流通股东，持有股数1211.55万股，占流通股的比例为0.49%。根据测算，今日浮亏损失约157.5 万元。 广发中证1000ETF（560010）成立日期2022年7月28日，最新规模307.18亿。今年以来收益28.45%，同 类排名2108/4221；近一年收益34.01%，同类排名1523/3848；成立以来收益9.87%。 广发中证1000ETF（560010）基金经理为罗国庆。 截至发稿，罗国庆累计任职时间10年0天，现任基金资产总规模675.65亿元，任职期间最佳基金回报 88.71%， 任职期间最差基金回报-48.08%。 资料显示，华谊兄弟传媒股份有限 ...

中金研究 国庆中秋假期数据出炉。本文中，我们从零售及轻工日化、旅游酒店及餐饮、传媒和互联网等角度为大家详细解读。 零售及轻工日化： 国庆黄金周长距离游火热，年轻人成消费主力 2025年国庆+中秋假期消费数据陆续发布，整体来看，在更长的假期窗口带动下（25年8天多过24年的7天，存在前后"拼假"策略），境内与出入境出行热 度均高企，消费数据普遍表现亮眼，呈现出年轻化、重体验等趋势，同时家居家电、户外运动等可选品类有较好表现。 1、出行活力高企，假日消费延续高景气。 据交运部，10月1-8日全社会跨区域人员日均流动量同增6.2%，飞猪数据显示假期出行客单价同比提升14.6%， 我们认为主因出入境游持续恢复，同时国内"长途游""分段游"占比提升。境内方面，商务部重点监测78个商圈前3日客流/营业额同增4.2%/4.0%，境外方 面，国家移民局数据显示全国口岸日均出入境旅客数突破200万人，同增15%。 2、年轻群体成为出行主力，体验消费愈加受到重视。 据飞猪数据，假期95后游客预订人次占比最高，达近1/4，年轻消费群体带动体验项目热销，国内目 的地民俗体验、旅拍等，出境目的地跳伞、海钓等订单量分别同增78%、30% ...

灯塔专业版数据显示，2025年电影国庆档总票房突破18亿元。其中，《志愿军：浴血和平》《731》 《刺杀小说家2》《浪浪人生》《震耳欲聋》暂列票房前五位，各片档期票房均突破1亿元。业内人士认 为，今年国庆档历时8天，影片供给数量充足、题材丰富多元，为观众提供了多样化的观影选择。截至 目前，2025年以来中国电影总票房已超过去年全年，由于四季度仍有不少热门影片上映，全年总票房有 望冲击500亿元。（中证报） ...

● 本报记者 杨梓岩 灯塔专业版数据显示，截至10月8日中国证券报记者发稿，2025年电影国庆档总票房突破18亿元。其 中，《志愿军：浴血和平》《731》《刺杀小说家2》《浪浪人生》《震耳欲聋》暂列票房前五位，各片 档期票房均突破1亿元。 业内人士认为，今年国庆档历时8天，影片供给数量充足、题材丰富多元，为观众提供了多样化的观影 选择。截至目前，2025年以来中国电影总票房已超过去年全年，由于四季度仍有不少热门影片上映，全 年总票房有望冲击500亿元。 类型丰富驱动票房 灯塔专业版数据分析师陈晋对中国证券报记者表示，今年国庆档影片类型丰富多元，涵盖历史战争、奇 幻动作、喜剧家庭、动画以及犯罪剧情等多种题材，满足了成人、家庭及儿童等不同观众群体的观影需 求。截至目前，今年国庆档平均票价为36.7元，较去年同期有所下降，这得益于多部国庆档新片官宣下 调最低结算票价，让观众以更实惠的价格走进影院，进一步降低了观影门槛。 上市公司深度参与 影片背后不乏上市公司的身影。《刺杀小说家2》为华策影视主投作品，其他出品方包括中国电影等。 《三国的星空第一部》由果麦文化等出品。《浪浪人生》出品方包括中国电影、万达电影、横店影视 ...

文 | 娱乐资本论 James 动画电影《K-POP：猎魔女团》（K-POP Demon Hunters）在Netflix流媒体平台上取得了史无前例的成 功，打破了多项观看记录，其IP已迅速演变为一个全球性的文化符号，其影响力渗透至体育、政治等多 个领域。 主要利益相关方在该项目中有不同的财务结局。Netflix通过一次精准的战略收购，以固定成本获得了价 值数十亿美元的IP，成为最大赢家。相比之下，影片制作方的索尼影业在疫情期间抛售，错失了分享巨 额长期收益的机会。作为大厂夹缝中的独立厂牌，音乐制作方The Black Label极大地提升了其全球品牌 价值。至于一直和韩国音乐产业勾连很深的TME（腾讯音乐集团），也获得了一些自己的收益。 在原本作为最大单一市场的中国大陆突然需求骤降，被迫进行全球化战略转型后，《猎魔女团》的全球 性胜利，则体现了这些年韩国娱乐业被深入嵌套进全球资本之后的一次完美案例。 从流媒体到院线，前所未有的统治力 "91 天前，世界发生了翻天覆地的变化。一部电影能如此全面地、普遍地捕捉时代精神，引发一场多年 未见的文化现象，实属罕见。它同等程度地风靡全球，在全球各地的家庭中不断循环播放， ...

国庆档影片阵容丰富，继续带动观影需求回升。 继2025年电影国庆档首日票房超3.22亿元之后，票房数据持续创新高。据灯塔专业版平台数据，截至10 月6日20时26分。2025年国庆档电影总票房(含预售)超15亿元。目前，《志愿军》三部曲的收官之作 《志愿军：浴血和平》、《731》《刺杀小说家2》三部电影的票房位列前三。 （原标题：国庆档票房超15亿元，背后上市公司有这些） 背后上市公司有望受益 从上映电影背后的参与公司来看，涌现出多家A股上市公司。国内首部聚焦聋人群体反诈题材的现实主 义电影《震耳欲聋》主要出品公司达到8家，包括中国电影、横店影视等；《志愿军：浴血和平》主要 出品公司有5家，包括中国电影、博纳影业等；《刺杀小说家2》主要出品公司有5家，包括华策影视、 中国电影等；《三国的星空第一部》，该动画电影由知名学者易中天担任编剧、监制，并邀请多位历史 学家共同把关，由果麦文化主投。 据证券时报·数据宝统计，A股中电影概念股有17只，果麦文化、光线传媒、欢瑞世纪的股价年内行情表 现亮眼，分别累计上涨201.13%、107.48%和101.23%。 光线传媒出现在今年国庆档影片《三国的星空第一部》出品方列表 ...

人民财讯10月6日电，据猫眼专业版数据，截至10月6日11时42分，2025年国庆档档期票房破14亿元， 《志愿军：浴血和平》《731》《刺杀小说家2》分列前三位。 ...

Core Viewpoint - The acquisition of the original "Suzhou Huayi Brothers Movie World" by Haihe An Cultural Tourism marks a significant shift in Huayi Brothers' strategy towards a light asset model for its film IPs, raising questions about the future planning and operation of remaining projects [1][2]. Group 1: Acquisition Details - Haihe An Cultural Tourism, a company under the Korean private equity giant MBK Partners, completed the full acquisition of the original "Suzhou Huayi Brothers Movie World" on September 21, rebranding it as "Haihe An Suzhou Yangcheng Peninsula Paradise" [2]. - The project was Huayi Brothers' first film-themed park, aimed at creating a "Chinese Disneyland," but has faced continuous losses since its opening in 2018, leading to bankruptcy restructuring in 2024 [2]. Group 2: Financial Performance - In the first half of 2025, Huayi Brothers reported total revenue of 153 million yuan, a 50.37% decline year-on-year, with a net loss of approximately 74.44 million yuan compared to a profit of 24.72 million yuan in the same period last year, marking a 401.15% decrease [3][4]. - The company's main revenue source, the film entertainment segment, saw a 50.29% drop in revenue, generating 152 million yuan, with a gross margin decrease of 18.61% [4]. - The brand authorization and real-life entertainment segment reported zero revenue, a 100% decline year-on-year, due to no new authorizations during the reporting period [4]. Group 3: Historical Losses and Debt - Huayi Brothers has experienced consecutive annual losses from 2018 to 2024, with cumulative losses reaching 8.246 billion yuan [4]. - The company's debt-to-asset ratio has been on the rise, increasing from 48.22% at the end of 2018 to 86.64% as of June 30, 2025 [4]. - As of September 30, the company's stock price fell by 1.52% to 2.59 yuan per share, with a market capitalization of 7.186 billion yuan, indicating stagnant performance throughout the year [4].