Core Viewpoint - The company is focusing on a "film production + IP operation" light asset business model to accelerate its return to healthy development [1] Group 1: Business Strategy - The company is concentrating high-quality resources to deepen its film business and produce high-quality films while enhancing the monetization channels of valuable IPs [1] - The company is actively optimizing its asset structure to strengthen and enhance the core competitiveness of its main business [1] Group 2: Project Development - The company has a rich project reserve and is set to strengthen its content advantages by 2025 [1] - The film "Mermaid 2," directed by Stephen Chow, is in the post-production stage, while "Catching Spies," directed by Feng Xiaogang and starring Lei Jiayin and Hu Ge, has completed filming [1] - Multiple film projects, including "Little Soldier Zhang Ga," "Special Gift," "In the Net," "Parallel Mission," and "Young Rocket," are either in production or in the process of being prepared for filming [1] - The company is steadily advancing several TV dramas, web series, and online films in which it has invested [1]

Group 1 - Warner Bros. Discovery (WBD) rejected a cash-based acquisition offer from Paramount Skydance at nearly $24 per share, totaling slightly below $60 billion [1][2] - The rejection indicates that the market perceives the offer as insufficient in terms of valuation and premium, suggesting a need for a public bidding process to achieve a higher price [2] - Warner Bros. Discovery previously proposed a split into two companies (streaming and traditional film business) to unlock value, reinforcing the belief that the value from a split or sale could exceed a single buyer's offer [2] Group 2 - Following the news of the rejected offer, Warner Bros. Discovery's stock price rose over 12% during trading, closing up 10.97% at $20.33 [1]

Core Insights - The project "Encounter Tang Poetry" is a significant cultural initiative that integrates AIGC technology with film production, setting a new benchmark for digital cultural development [1][2] - The series aims to innovate traditional Tang poetry representation by combining cultural heritage with modern technology, enhancing both artistic expression and audience engagement [1][2] Group 1: Project Overview - "Encounter Tang Poetry" consists of three parts, with the Chang'an chapter recently starting production in Hengdian [1] - The series will feature 60 episodes, with a total runtime of 100-120 minutes, expected to be completed and released by December 2025 [2] Group 2: Technological Integration - The project utilizes a self-developed AIGC content engine for scriptwriting, visual generation, and virtual scene construction, achieving full-process intelligent upgrades [1] - The integration of AI and XR technologies enhances the immersive experience and creates a unique perspective that juxtaposes modern thinking with Tang culture [1] Group 3: Cultural and Economic Impact - The series will create a "Tang Poetry Cultural Map" by linking landmarks and scenes from the Tang dynasty, contributing to the development of Xi'an as a "Tang Poetry Tourism Destination" [2] - Multi-channel distribution strategies, including television, video platforms, and short video matrices, aim to reach audiences of all ages and promote widespread dissemination of Tang poetry culture [2] Group 4: Future Developments - Following the Chang'an chapter, additional chapters focusing on the frontier and cuisine will be produced, forming a comprehensive "Tang Poetry Trilogy" IP matrix [2] - The project seeks to explore the integration of traditional culture with the film and tourism industries, injecting new momentum into cultural inheritance and innovative development [2]

Core Viewpoint - Warner Bros. Discovery is considering a potential sale after receiving multiple acquisition interests, with companies like Netflix and Comcast showing interest in acquiring parts of the media and entertainment company [2][3]. Group 1: Strategic Options - The board of Warner Bros. Discovery will evaluate various options, including a planned split before mid-2026, a complete sale, or separate sales of its Warner Bros. and Discovery Global divisions [2]. - CEO David Zaslav stated that a comprehensive review of strategic options has been initiated to determine the best way to unlock the full value of the company's assets [2]. Group 2: Market Reaction - Warner Bros. Discovery's stock rose by 12% on Tuesday, increasing from $12 to approximately $20 since acquisition interest from Paramount was first reported last month [2]. Group 3: Industry Context - Traditional media companies are struggling with increased online competition, and Warner Bros. has been sold twice in the past decade [2]. - Zaslav's previous strategy to merge Discovery with Warner Bros. aimed to create a competitor to Netflix, but this strategy has not been successful [2]. - A potential sale of part or all of the company could reshape Hollywood and the media industry, possibly leading to consolidation among major production companies and the exit of some streaming services [2]. Group 4: Acquisition Interests - Analysts have noted that large tech companies like Netflix and Apple may be interested in acquiring Warner Bros. Discovery's assets, although Apple has downplayed the likelihood of such a deal [3]. - Netflix's co-CEO Ted Sarandos has expressed interest in Warner Bros. Discovery's production facilities and content library, but not in acquiring a television network [3]. - Comcast, the parent company of NBCUniversal, is also considering a bid but has not made a formal offer yet [3]. Group 5: Strategic Review Process - The strategic review process does not have a specific deadline or timeline [4]. - Allen & Co., JPMorgan, and Evercore are serving as financial advisors to Warner Bros. Discovery [4].

Core Viewpoint - The company is focusing on a "film production + IP operation" light asset business model to accelerate its return to healthy development [1] Group 1: Business Strategy - The company is concentrating high-quality resources to enhance its core competitiveness in the main business [1] - The company aims to deepen its film business by continuously producing high-quality films and improving the monetization channels of valuable IPs [1] Group 2: Project Development - The company has a rich project reserve for 2025, with several films in various stages of production [1] - Notable projects include "Mermaid 2" directed by Stephen Chow, which is in post-production, and "Catching Spies" directed by Feng Xiaogang, which has completed filming [1] - Other films such as "Little Soldier Zhang Ga," "Special Gift," "In the Net," "Parallel Mission," and "Young Rocket" are either in production or in preparation [1] Group 3: Television and Online Films - The company is steadily advancing multiple TV dramas, web series, and online films in which it has invested [1]

Core Viewpoint - The company Huayi Brothers has officially established a short drama brand named "Huayi Brothers Fire Drama" and is actively developing several original projects [1] Group 1: Short Drama Development - The original project "The Lies of the Returning Wife" is currently in the post-production stage [1] - Upcoming projects include adaptations of the popular game "Peace Elite Mobile" titled "Peace Elite: Rookie Elite" (tentative name) and Tang Jia San Shao's "The Great Turtle Shell Master" [1] - An original project named "The Great Wave" is also set to enter the preparation stage [1]

Core Viewpoint - Recently, Yunzhichuanghe Cultural Technology (Shenzhen) Co., Ltd. was established, focusing on various technology sectors including artificial intelligence and robotics [1] Company Summary - The company is registered with a capital of 15 million RMB [1] - The legal representative of the company is Jiang Yu [1] - The business scope includes the development of artificial intelligence software, manufacturing of service consumer robots, research and development of intelligent robots, and manufacturing of amusement equipment for outdoor amusement parks [1] Shareholder Information - The company is jointly held by Shenzhen Yuejiang Technology Co., Ltd. and Shanghai Xingzhijiao Film and Television Production Co., Ltd. [1]

Core Insights - Perfect World experienced a stock price increase of 2.65% on October 20, with a trading volume of 495 million yuan [1] - The company reported a net financing outflow of 15.14 million yuan on the same day, with a total financing and securities balance of 649 million yuan [1][2] - For the first half of 2025, Perfect World achieved a revenue of 3.691 billion yuan, representing a year-on-year growth of 33.74%, and a net profit of 503 million yuan, up 384.52% year-on-year [2] Financing and Securities - On October 20, Perfect World had a financing buy-in of 23.15 million yuan, with a current financing balance of 645 million yuan, accounting for 1.95% of its market capitalization [1] - The financing balance is below the 20th percentile level over the past year, indicating a low position [1] - In terms of securities lending, 3,400 shares were repaid and 900 shares were sold on October 20, with a total selling amount of 15,300 yuan [1] Shareholder Information - As of June 30, 2025, Perfect World had 102,100 shareholders, a decrease of 11.69% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 52.64 million shares to 116 million shares [3] - Other notable changes in holdings include a decrease of 7.18 million shares for Xingquan Helun Mixed A and an increase of 609,200 shares for Huaxia Zhongzheng Animation Game ETF [3]

Core Insights - The rapid development of internet technology, diverse audience demands for entertainment content, supportive policies, and the entry of internet giants like Douyin and Kuaishou have led to a significant explosion in China's short drama industry, with a market size projected to reach 50.5 billion yuan in 2024, a year-on-year increase of 35% [1][5][6] - The global AI short drama market has entered a phase of explosive growth since the second half of 2024, with notable advancements in AI video generation models enhancing production efficiency and creativity [1][7][9] AI Short Drama Industry Overview - AI short dramas utilize artificial intelligence to generate visuals, plots, and other elements, significantly reducing production time to "hour-level" and costs to as low as 1% of traditional methods [3][4] - The industry has evolved through four stages: technology emergence (2018-2020), tool exploration (2021-2022), industry explosion (2023-2024), and ecosystem formation (2025 onwards) [3][4] AI Short Drama Industry Policies - The Chinese government has implemented various policies to promote the AI short drama industry, including the 2025 notice encouraging innovation in micro-short drama creation and integration with AI technology [5][6] Current Development of AI Short Drama Industry - The short drama format has gained popularity due to its suitability for fragmented viewing time, with several high-quality productions emerging, such as "Escape from the British Museum" and "My Return Journey Has Wind" [1][5] - The market size for short dramas in China is expected to reach 50.5 billion yuan in 2024, reflecting a 35% increase from the previous year [1][6] AI Short Drama Industry Competition Landscape - The competition in the AI short drama industry involves technology vendors (e.g., Baidu, Tencent), content producers (traditional and new teams), and platform operators (Douyin, Kuaishou, Bilibili) [9][10] AI Short Drama Industry Development Trends - Continuous technological innovation will drive the expansion of AI short dramas, with advancements in real-time animation and emotional algorithms enhancing artistic expression [13][14] - "Human-machine collaboration" will be crucial for improving the quality of AI short dramas, allowing creators to focus on core storytelling while AI handles complex visual elements [14][15] - Interactivity and personalization will distinguish AI short dramas from traditional media, enabling viewers to influence storylines and customize characters, thus enhancing engagement [15]

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 承董事會命 檸萌影視傳媒有限公司 9857 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」，連同其附屬公司及併表聯屬 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。 本公司董事會（「董事會」）欣然宣佈，由檸萌影視出品，愛奇藝聯合出品的小城生活「療」 愈劇《小城良方》，已於2025年10月18日開機拍攝。該劇由聶成帥編劇，張曉波導演，蘇 曉擔任總製片人，夏傑擔任製片人，實力青年演員肖戰領銜主演，倪大紅、姜妍、史彭 元、菅紉姿、張國強領銜主演。 董事長 蘇曉 中國，北京 2025年10月20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。 ...