Core Viewpoint - The short drama "Northeast Love Story: Flash Marriage Rose," produced by Xingning Culture, a subsidiary of Ningmeng Film and Television, has achieved over 1 billion views, with 300 million views within the first three days of its release, highlighting the project's rapid success in a competitive short drama market [1] Group 1: Company Overview - Xingning Culture is a short drama brand under Ningmeng Film and Television, inheriting the group's expertise in long-form content production [1] - The production team applies high standards to script refinement, actor performances, and scene restoration, ensuring quality in short drama creation [1] Group 2: Industry Insights - The success of "Northeast Love Story: Flash Marriage Rose" demonstrates that short dramas can effectively address serious contemporary issues and convey profound humanistic concerns [1] - The project exemplifies a "long-termism" approach, successfully breaking through the quality barriers typically associated with short dramas [1]

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」，連同其附屬公司及並表聯屬 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。 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。 Linmon Media Limited 9857 承董事會命 檸萌影視傳媒有限公司 董事長 蘇曉 中國，北京 2025年10月27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。 本公司董事會（「董事會」）欣然宣佈，由檸萌影視旗下短劇廠牌星檸文化製作的短劇《東北 愛情往事：閃婚玫瑰》累計播放量突破10億次大關，上線3天播放量即突破3億次。在當前 競爭日趨激烈的短劇市場，該項目的迅速走紅，來源於精良的製作和真摯的情感表達， 以「長期主義」有效實現短劇品質破圈。 作為該項目的製作方，星檸文化是本 ...

Core Viewpoint - The company's Q3 2025 performance fell short of expectations, primarily due to a lower number of confirmed series releases [1] Group 1: Q3 2025 Performance - Revenue for Q3 2025 was 251 million yuan, a year-on-year decline of 52.2% [1] - Net profit attributable to shareholders was 57.61 million yuan, down 39.4% year-on-year [1] - Non-recurring net profit attributable to shareholders was 12.39 million yuan, a significant drop of 82.9% year-on-year [1] Group 2: Development Trends - The company launched fewer series in Q3 2025 and is focusing on short dramas and AI applications [2] - The company premiered series "Jinxiu Fanghua" and "Our Rivers and Mountains" in Q3 2025 [2] - The upcoming film "Assassination Novelist 2" is expected to be released during the National Day holiday, with a cumulative box office of 364 million yuan as of October 24, 2025, potentially leading to losses [2] - The company has established a professional micro-short drama creation team with a monthly output of around 20 episodes [2] - The company is enhancing the proportion of original projects while developing IP linkage between long and short dramas [2] - The company has launched two self-developed large models, "Guose" and "Youfeng," to assist in the creation of micro-short dramas [2] - Gross margin for Q3 2025 was 46.3%, with fluctuations attributed to variations in the proportion of customized series [2] - Operating expenses were well-controlled, with sales expenses remaining stable and management and R&D expenses slightly declining [2] Group 3: Future Prospects - The company has a rich reserve of upcoming series, including "Taiping Year," "Family Business," "Flower Good," and "A Day in July" [3] - Upcoming films include "Wild Era" scheduled for November 22 and "Seeking Qin Chronicles" [3] - There is potential for improvement in cash flow and series production capacity following the refinement of broadcasting regulations [3] Group 4: Profit Forecast and Valuation - Due to the lackluster performance of films in Q4 and uncertainties regarding future projects, the net profit forecast for 2025 and 2026 has been reduced by 56.6% and 9.5% to 181 million yuan and 406 million yuan, respectively [4] - The current price corresponds to a P/E ratio of 35.2 times for 2026 [4] - The target price has been lowered by 8.5% to 8.6 yuan, reflecting a 40 times P/E for 2026, indicating a potential upside of 14.2% [4]

Core Viewpoint - Huace Film and Television reported a significant decline in revenue and net profit for Q3 2025, indicating ongoing challenges in its financial performance despite a strong start to the year [1][3]. Financial Performance - In Q3 2025, the company achieved revenue of 251 million CNY, a year-on-year decrease of 52.21% [1][2]. - The net profit attributable to shareholders was 57.61 million CNY, down 39.38% year-on-year [1][2]. - The non-recurring net profit was 12.39 million CNY, reflecting a substantial decline of 82.94% [1][2]. - Basic earnings per share were reported at 0.03 CNY [1][2]. - For the first three quarters of 2025, total revenue reached 1.041 billion CNY, an increase of 16.62% year-on-year, while net profit attributable to shareholders was 175 million CNY, up 5.35% [1][3]. Debt and Financial Ratios - The company's debt ratio has been on the rise, reaching 35.92% as of September 30 [1]. - The weighted average return on equity for the reporting period was 0.79% [2]. Shareholder Changes - The top ten circulating shareholders have changed, with new entrants like the National Social Security Fund and exits from private equity funds [6]. - The actual controller, Fu Meicheng, has been reducing his stake, transferring 67.47 million shares at a price of 7.42 CNY per share, totaling 501 million CNY [7]. Market Performance - As of October 24, the stock closed at 7.53 CNY, with a market capitalization of 14.304 billion CNY [7][8]. - The stock has experienced a 52-week high of 10.48 CNY and a low of 5.86 CNY [8].

Core Insights - Huace Film & TV (300133.SZ) reported a revenue of 1.041 billion yuan for the first three quarters of 2025, representing a year-on-year growth of 16.62% [1] - The net profit attributable to shareholders of the listed company was 175 million yuan, an increase of 5.35% year-on-year [1] - The net profit attributable to shareholders after deducting non-recurring gains and losses was 84.55 million yuan, showing a decrease of 26.85% year-on-year [1] - The basic earnings per share stood at 0.09 yuan [1]

格隆汇10月24日丨华策影视(300133.SZ)公布三季度报告，前三季营业收入10.4亿元，同比增长16.62%， 归属于上市公司股东的净利润1.75亿元，同比增长5.35%，归属于上市公司股东的扣除非经常性损益的 净利润8455万元，同比下降26.85%。 ...

Core Insights - The company reported a significant decline in third-quarter revenue and net profit compared to the previous year, indicating potential challenges in its operational performance [1] - Despite the downturn in the third quarter, the company experienced growth in revenue and net profit for the first three quarters of the year, suggesting a mixed performance overall [1] Financial Performance - Third-quarter revenue was 251 million yuan, a year-on-year decrease of 52.21% [1] - Third-quarter net profit was 57.606 million yuan, a year-on-year decrease of 39.38% [1] - Revenue for the first three quarters reached 1.041 billion yuan, a year-on-year increase of 16.62% [1] - Net profit for the first three quarters was 175 million yuan, a year-on-year increase of 5.35% [1]

人民财讯10月24日电，华策影视（300133）10月24日发布2025年三季报，公司第三季度营业收入2.51亿 元，同比下降52.21%；净利润5760.60万元，同比下降39.38%。前三季度营业收入10.41亿元，同比增长 16.62%；净利润1.75亿元，同比增长5.35%。 ...

华策影视10月24日公告，2025年第三季度实现营业收入2.51亿元，同比下降52.21%；归属于上市公司股 东的净利润5760.6万元，同比下降39.38%；基本每股收益0.03元。 前三季度实现营业收入10.41亿元， 同比增长16.62%；归属于上市公司股东的净利润1.75亿元，同比增长5.35%；基本每股收益0.09元。 ...

证券日报网讯捷成股份（300182）10月24日在互动平台回答投资者提问时表示，由公司控股子公司捷成 星纪元文化传媒有限公司参与出品的影视剧《钢铁森林》已过审。 ...