Core Viewpoint - The provocative remarks made by Japanese Prime Minister Kishi Nobuo are expected to negatively impact Chinese audiences' perception of Japanese films, leading to a significant decline in box office performance for the animated film "Demon Slayer: Infinity Castle Chapter One" shortly after its release [1][7]. Group 1: Box Office Performance - "Demon Slayer: Infinity Castle Chapter One" achieved over 100 million in box office revenue on its opening day, benefiting from a strong fan base [1]. - Following the controversial comments from the Japanese Prime Minister, the film's box office saw a notable decline within three days of its release [1]. - The film's ticket refund rate increased from 3.2% to 7.6% between November 18 and 21, indicating growing dissatisfaction among viewers [3]. Group 2: Market Reactions - The film's attendance rate dropped significantly, with less than 3% attendance reported on November 18 [3]. - Several Japanese films, including "Crayon Shin-chan: The Hot Spring Dancer of Kasukabe" and "Cells at Work," have had their releases postponed, reflecting broader market concerns [5][7]. - The negative sentiment has also affected Japanese companies operating in China, such as sushi chain Sushi郎 and Uniqlo's parent company Fast Retailing, which have seen stock declines [7]. Group 3: Government and Diplomatic Impact - The Chinese government has issued warnings to citizens regarding travel to Japan and advised caution for study plans in Japan due to the diplomatic tensions [7]. - Analysts suggest that if the Japanese government does not retract its statements, it could lead to more severe damage to the Japanese economy [7].

Group 1 - The fourth meeting of the board of directors of China Film Industry Group Co., Ltd. was held on November 18, 2025, via communication, with all 10 directors present [2] - The board approved the supplementary election of an independent director, with the candidate's qualifications reviewed by the board's nomination and remuneration committee [3][4] - The board also approved the establishment of a management system for the departure of directors and senior management [7] - A proposal to convene the second extraordinary general meeting of shareholders in 2025 was approved, with the chairman authorized to decide on the specifics of the meeting [8][9] Group 2 - Li Yan was nominated as the independent director candidate, with a background as a professor and researcher, and her qualifications have been reviewed by the board [11] - The election of the independent director will be submitted for approval at the upcoming shareholders' meeting, with the term starting from the approval date until the current board's term ends [11]

近期，日本首相高市早苗发表有关台湾问题和历史认知上的错误言论，引发多方质疑和担忧。其错误言论罔顾法理和历史事实，一系列言行危害地区稳 定、祸及日本自身。 此外，日本内阁府当天发布的初步统计结果显示，日本今年第三季度实际国内生产总值按年率计算下降1.8%，自2024年第一季度以来再次出现负增长， 也令大盘承压。 还有分析认为，高市早苗的错误言论可能还会拖累日本商品的出口与销售额，中国消费者或将减少对日本商品的选择，可能对部分日系品牌造成冲击。 除了引发日本国内各界的反感与批评，高市早苗的错误言行也招致地区国家的反对，并且已经对日本多领域产生了深刻的负面影响。 11月18日，日本股市开盘再度走低，日经225指数一度下跌超1000点，跌幅超2%。 截至发稿，日经225指数下跌891.35点，跌幅1.77%。 前一日（17日），日经股指下跌52.62点，收于50323.91点；东证股指下跌12.28点，收于3347.53点。 由于投资者担心中日关系恶化导致访日游客减少，百货公司、运输、消费等旅游相关股票几乎全面下跌。 此外，日本内阁府当天发布的初步统计结果显示，日本今年第三季度实际国内生产总值按年率计算下降1.8%， ...

Core Insights - The film industry is experiencing significant anxiety and confusion due to the impact of AI on creative processes, audience engagement, and box office growth [1][2][3] - The audience's viewing habits are shifting, with a notable decline in weekday attendance and an increase in weekend viewership, leading to a "cliff" effect in box office performance [2][3] - The demographic profile of moviegoers is changing, with an increase in viewers aged 30 and above, and a growing preference for specific genres among different gender and age groups [3][4] Audience Engagement - The average frequency of movie attendance per person is 2.02 times, with an estimated 510 million viewers in 2025, marking a recovery since 2020 [2] - Weekday cinema attendance is significantly lower compared to weekends, with attendance dropping by a factor of ten from weekdays to weekends [2][3] - The rise of short-form content and social media is competing for audience attention, making traditional cinema viewing less appealing [3][9] Industry Trends - The film industry is exploring new paths, such as immersive experiences and XR projects, to attract younger audiences and adapt to changing consumption patterns [4][5] - The number of production companies involved in films is decreasing, with a trend towards fewer co-production partners, indicating a shift in investment strategies [5][6] - Animation films are gaining popularity, showing stability in box office performance and attracting long-term capital investment due to their modular and standardized production processes [6][7] Technological Integration - AI is becoming integral to the filmmaking process, with advancements in script generation and production efficiency, allowing for faster turnaround times [8][10] - The industry is witnessing a transformation in how films are created and consumed, with AI enabling broader participation in the creative process [9][10] - Concerns about the dominance of algorithms and the potential loss of artistic integrity are being raised, emphasizing the need to balance technological advancements with human values in filmmaking [10]

Group 1: R&D Expense Deduction Policies - The R&D expense deduction policy applies to resident enterprises with sound accounting practices, excluding certain industries such as tobacco manufacturing, accommodation, and real estate [3] - Integrated circuit and industrial mother machine enterprises can deduct 120% of actual R&D expenses incurred from January 1, 2023, to December 31, 2027, if these expenses do not form intangible assets [4] - For R&D expenses that form intangible assets, these enterprises can amortize 220% of the cost of the intangible assets during the same period [4] Group 2: Other Enterprises - Other enterprises can deduct 100% of actual R&D expenses incurred from January 1, 2023, if these expenses do not form intangible assets [6] - For R&D expenses that form intangible assets, these enterprises can amortize 200% of the cost of the intangible assets starting January 1, 2023 [7] Group 3: Employment of Disabled Persons - Enterprises that employ disabled persons can deduct 100% of the wages paid to disabled employees when calculating taxable income, in addition to the actual wage deductions [9] Group 4: Basic Research Expenditure - From January 1, 2022, enterprises can deduct actual expenditures for basic research contributions to non-profit scientific research institutions, universities, and government natural science funds, with an additional 100% deduction allowed [12] Group 5: Policy References - The article references several key policies and announcements related to R&D expense deductions and tax incentives for employing disabled persons, including notices from the Ministry of Finance and the State Administration of Taxation [13]

Core Viewpoint - The release of several Japanese films, including "Crayon Shin-chan: Hot Spring Dancers" and "Cells at Work," has been postponed due to the evaluation of the Japanese import film market performance and the sentiments of Chinese audiences [1] Group 1: Market Performance - The animated film "Demon Slayer: Mugen Train" initially performed well at the box office, benefiting from its established fan base, but saw a significant decline in ticket sales after controversial remarks by Japanese Prime Minister Sanae Takaichi [1] - After three days of release, the box office for "Demon Slayer" dropped significantly, with projections for the fifth day estimating around 20 million yuan [1] Group 2: Audience Sentiment - The provocative statements from Japanese officials are expected to negatively impact Chinese audiences' perception of Japanese films, leading to the decision to delay upcoming releases [1] - The import and distribution parties have stated that they will respect market trends and audience preferences in their decision-making process [1] Group 3: Industry Statistics - As of November 16, the total box office in mainland China reached 45.543 billion yuan, making it the second-largest film market globally [1] - Domestic films accounted for 40.298 billion yuan, representing 88.48% of the total box office, marking the third time in history that domestic films have surpassed 40 billion yuan in box office revenue [1]

Core Viewpoint - The release of Japanese films such as "Crayon Shin-chan: The Dancing Springtime in Kasukabe" and "Cells at Work" has been postponed due to the evaluation of the comprehensive market performance of Japanese imports and the sentiments of Chinese audiences [1] Group 1: Market Performance - The animated film "Demon Slayer: Mugen Train" initially performed well at the box office, benefiting from its established fan base [1] - However, following controversial remarks by Japanese Prime Minister Sanae Takaichi, there was a significant decline in audience sentiment, leading to a rapid drop in box office performance [1] - The box office forecast for the film on its fifth day is projected to be around 20 million yuan, indicating a sharp decrease in market interest [1] Group 2: Industry Response - Importers and distributors of Japanese films have decided to postpone upcoming releases in light of the negative impact of provocative statements from Japanese officials on Chinese audience perceptions [1] - The decision reflects a commitment to adhere to market dynamics and respect audience preferences [1]

Core Viewpoint - The release of several Japanese films in China, including "Crayon Shin-chan: Hot Spring Dance" and "Cells at Work," has been postponed due to concerns over the performance of Japanese imports and the sentiments of Chinese audiences [1] Group 1: Market Performance - The animated film "Demon Slayer: Mugen Train" initially performed well at the box office, benefiting from its established fan base, but saw a significant decline in ticket sales after controversial remarks by Japanese Prime Minister Sanae Takaichi [1] - The box office forecast for "Demon Slayer" dropped to approximately 20 million yuan after three days of release, indicating a rapid decrease in market interest [1] Group 2: Audience Sentiment - The provocative statements from Japanese officials are expected to negatively impact Chinese audiences' perception of Japanese films, leading to the decision to delay upcoming releases [1] - The importers and distributors have stated that they will respect audience preferences and market dynamics in their decision-making process [1] Group 3: Industry Statistics - As of November 16, the total box office revenue in mainland China reached 45.543 billion yuan, making it the second-largest film market globally [1] - Domestic films accounted for 40.298 billion yuan, representing 88.48% of the total box office, marking the third year in which domestic films have surpassed the 40 billion yuan threshold [1]

Group 1: Film Industry - The animated film "Demon Slayer: Infinity Castle Chapter One" debuted in mainland cinemas, achieving a strong IMAX box office of 875 million yuan in its opening weekend, capturing 23% of the box office with only 1% of the screens [1] - The film's popularity has reignited the "midnight screening" trend in the Chinese film market, with IMAX midnight screenings accounting for 38% of the film's box office, generating 71 million yuan and setting a new record for IMAX midnight screenings of Japanese films in China [1] - The success of the film highlights the powerful appeal of established intellectual properties (IPs) and the importance of quality content in driving market recovery and attracting diverse international films to the Chinese market [1] Group 2: Corporate Expansion - A report by ACCA indicates that expanding overseas markets remains the primary motivation for Chinese companies venturing abroad, with traditional exports still dominating, while digital and platform-based models have a low representation [2] - From a financial management perspective, the report identifies regulatory compliance, geopolitical risks, and talent shortages as the three main financial risks faced by companies going abroad [2] - The traditional export model exposes companies to risks such as anti-dumping measures and exchange rate fluctuations, while the demand for cross-border tax compliance and localized talent is expected to benefit international audit, tax SaaS, and overseas outsourcing service providers [2] Group 3: Investment Activity - L'Oréal Group has made a minority equity investment in the Chinese skincare brand LAN, marking its first investment in a local skincare brand through its Shanghai-based investment arm [3] - This investment reflects L'Oréal's commitment to deepening its presence in the Chinese market and aims to enhance its portfolio in the clean skincare segment, while LAN is expected to benefit from resources that accelerate its internationalization [3] - The collaboration may spark a trend in the beauty industry, focusing on Eastern aesthetics and Chinese ingredients, potentially leading to a reevaluation of the value of Chinese beauty brands [3] Group 4: Corporate Financing - Tianwei Foods announced that it has submitted an application for issuing overseas listed shares (H-shares) to the Hong Kong Stock Exchange, with the application materials accepted by the China Securities Regulatory Commission [4] - This move is seen as a significant step for the company to expand its overseas financing channels and enhance its international influence, potentially attracting more international investors if the listing is successful [4] - The application process still faces uncertainties as it requires approvals from various regulatory bodies, but successful listing could provide new capital support for the company's long-term development [4]

Core Viewpoint - The release of several Japanese films in China, including "Crayon Shin-chan: The Dance of the Hot Spring Town" and "Cells at Work," has been postponed due to concerns over the performance of Japanese imports and the sentiments of Chinese audiences [1] Group 1: Market Performance - The animated film "Demon Slayer: Mugen Train" initially performed well at the box office, benefiting from its established fan base, but saw a significant decline in ticket sales after controversial remarks by Japanese Prime Minister Sanae Takaichi [1] - The box office prediction for "Demon Slayer" has dropped to approximately 20 million yuan after just five days of release, indicating a rapid decrease in market interest [1] Group 2: Audience Sentiment - The provocative statements from Japanese officials are expected to negatively impact Chinese audiences' perception of Japanese films, leading to the decision to delay upcoming releases [1] - Importers and distributors are prioritizing market dynamics and audience preferences in their decision-making process regarding the release of Japanese films [1] Group 3: Industry Statistics - As of November 16, the total box office revenue in mainland China for the year has reached 45.543 billion yuan, making it the second-largest film market globally [1] - Domestic films have generated 40.298 billion yuan, accounting for 88.48% of the total box office, marking the third time in history that domestic films have surpassed the 40 billion yuan threshold in a single year [1]