博纳影业在互动平台表示，公司控股子公司通过与TSG Entertainment Finance LLC（以下简称TSG）的 合作，TSG已授予公司《阿凡达3》等影片的投资收益权，可参与影片上映后的全球票房分账。公司投 资份额占比较低，电影票房有不确定性，敬请投资者注意投资风险。 ...

12月4日，A股市场探底回升，创业板指涨超1%，早盘一度跌超0.5%。沪深两市成交额1.56万亿，较上一个交易日缩量1219亿，全市场超3800只个股下 跌。 机器人概念持续活跃，睿能科技（603933）、骏亚科技（603386）等10余股涨停。 国际贵金属震荡走低，现货白银领跌，日内跌幅一度超2%，截至15:30，现货白银下跌1.7%，报57.477美元/盎司，现货黄金跌近0.3%，跌破4200美元/盎 司。 | 伦敦金现 | 伦敦银现 | COMEX黄金 | | --- | --- | --- | | 4190.620 | 57.477 | 4222.0 | | -11.800 -0.28% | -0.993 -1.70% | -10.5 -0.25% | | COMEX白银 | SHFE黄金 | SHFE自银 | | 58.010 | 953.42 | 13424 | | -0.610 -1.04% | -3.36 -0.35% | -194 -1.42% | 亚太股市涨跌不一，日经225指数涨2.3%，机器人和芯片股涨势强劲，软银集团涨超9%领涨。韩国综合指数、新加坡海峡指数、澳洲标普200指数等有所 ...

12月3日是国际残疾人日。 杭报曾在2023年5月5日《马拉喀什条约》对中国生效一周年之际发布深度报道《杭州无障碍电影城 市进化史——3万个梦想在光影间绽放》，讲述了杭州无障碍电影的发展历程。 两年多时间过去，杭州的无障碍电影发展如何？盲人朋友观影体验提升了吗？AI浪潮之下，无障 碍电影会迎来新的可能性吗？ 场次多了 上新快了 更方便了 "特殊活动"变为"日常娱乐" "阿贵抬头寻找秦福，发现他已经趁乱偷入小巷，一路狂奔，推倒梯子，从麻将桌上跳过去，来到 了另一个巷子口。他小心地探头张望，确定已经没有危险，这才松了一口气……" 10月13日至15日，"声纳"无障碍电影送影服务走进淳安、建德、临平。 12月2日下午两点多，在天目里美术馆5楼的多功能厅内，视障朋友"爱丽丝"（网名）正认真地"观 看"无障碍电影《唐探1900》。这是杭州市残疾人服务中心举办的"艺起亮·无障碍融合艺术节"中的一项 活动。 这几年的变化，视障朋友们感触很深。浙江音乐学院声乐歌剧系学生王怡文小时候曾接触过无障碍 电影，来杭州后，她明显感觉杭州放映无障碍电影的场次比老家多不少。 "没想到无障碍电影团队愿意这么辛苦地送影下乡，让我们在家门口就能 ...

2025年影视市场的收官钟声渐近，古装剧赛道迎来最后一场重头戏——爱优腾芒四大平台齐齐亮出压箱底阵容，新一轮古装剧"同台打擂"拉开帷幕。优酷 携权谋悬疑题材《长安二十四计》重磅入局，爱奇艺以仙侠巨制《逍遥》抢占赛道，腾讯视频押注轻喜修仙IP《勿扰飞升》，芒果TV则凭古风言情《玉 茗茶骨》差异化破局。 这四部被网友戏称为"古装四宝"的压轴之作，不仅是平台全年古装布局的收官冲刺，更承载着冲刺年度榜单、收割年末流量的关键使命。 2025年的古装剧市场可谓硝烟弥漫，四大平台在不同档期进行了多轮比拼，诞生多部现象级作品：年初《国色芳华》稳立女频口碑，《大奉打更人》点燃 男频热度，为古装赛道开年破局。暑期档《藏海传》凭权谋质感、《朝雪录》以女仵作探案双剧领跑。秋冬冷档，《唐朝诡事录之长安》以"历史+志怪 +悬疑"成功打破续集魔咒，刷新了古装探案剧天花板。 如今，年底"古装四宝"陆续上架，能否为2025古装大年画上一个圆满的句号？市场已经从多重维度展开预测——IP本身的国民度与改编潜力、主创团队的 过往口碑与制作功底、主演的流量号召力与路人盘、题材类型的差异化优势，前期宣发积累的粉丝关注度与舆论声量，都成为衡量其能否突围的 ...

Core Insights - The release of "Zootopia 2" has significantly impacted the stock market, with the main distributor, China Film (600977), experiencing a stock price surge, while other associated companies like Shifeng Culture (002862) and Semir Apparel (002563) also saw substantial gains [1][4] - As of December 2, 2025, "Zootopia 2" has grossed over 2.05 billion yuan in its first week, with projections suggesting a total box office of 4.2 billion yuan, potentially placing it among the top ten highest-grossing films in Chinese history [1][4] - Despite initial stock price increases, a market correction occurred on December 2, with many related companies experiencing declines, raising questions about the sustainability of the stock price increases and the actual financial benefits derived from the film's success [4][12] Company Performance - Disney, as the primary beneficiary of "Zootopia 2," saw its stock rise for three consecutive trading days, reaching a closing price of $106.77 per share and a market capitalization of $190.6 billion by December 2 [4][7] - China Film, the sole distributor of "Zootopia 2" in mainland China, had its stock price hit the daily limit of 19.02 yuan per share on December 1, resulting in a total market capitalization of 35.5 billion yuan [4][7] - The cinema sector also benefited, with Wanda Film (002739) achieving a box office of 324 million yuan on December 1, supported by a high screening ratio of 81% for "Zootopia 2" [6][7] Market Dynamics - The initial stock price increases were driven more by market expectations of high box office performance rather than confirmed revenue, indicating a speculative environment [7][12] - The film's success is attributed to its strong global appeal and family-friendly nature, which resonates well with Chinese audiences, contrasting with the declining interest in Hollywood live-action films [13][14] - The upcoming holiday seasons, including the New Year and Spring Festival, are expected to boost box office performance, with projections suggesting a potential recovery in the overall film market [14] Related Companies - Companies involved in merchandise related to "Zootopia 2," such as Shifeng Culture and Semir Apparel, experienced stock price surges due to the film's popularity, with Shifeng Culture's stock hitting the daily limit on December 1 [9][10] - Other companies like IMAX China reported record earnings from the film, indicating strong performance in the premium cinema segment [6][12] - However, many of these companies faced stock price corrections shortly after the initial surge, highlighting the volatility and speculative nature of the market surrounding film-related stocks [12][14]

《三国的星空第一部》已于2025年10月1日起在中国大陆地区公映。据国家电影专资办数据显示，截至 2025年11月30日24时，该片已结束发行放映。猫眼专业版显示，该片的累计票房为8771.7万元。 根据果麦文化10月中旬公告的电话会议记录，公司复盘了影片情况，认为电影的口碑是合格的，但存在 档期选择不当、宣发周期过短、产品本身可能非爆款等问题。 最新的三季度业绩显示，果麦文化前三季度实现营收4.97亿元，同比增长26.51%，归母净利润1206.58 万元，同比下降43.18%，经营活动产生的现金流量净额同比增长48.90%。截至三季度末，公司总资产 10.29亿元，较上年度末增长7.9%；归母净资产为7.21亿元，较上年度末增长1.0%。 果麦文化在公告中称，形成亏损的主要原因为票房未达预期。公告还称，该影片计划与其他投资方和发 行方共同补拍，并预计于明年重映。 公开资料显示，作为我国首部官宣立项的三国题材动画电影，《三国的星空第一部》由知名学者易中天 首度担任编剧及监制。影片以曹操为核心主角，刻画了这位颇具争议性的历史人物从青年将领成长为一 代枭雄的心路历程。 今年4月9日，果麦文化发布公告，公司拟与上 ...

Market Overview - On December 1, A-shares opened high and rose significantly, with the Shanghai Composite Index up 0.65% to 3914.01 points, the Shenzhen Component Index up 1.25% to 13146.72 points, and the ChiNext Index up 1.31% to 3092.5 points. The total trading volume in the Shanghai and Shenzhen markets reached 1.87 trillion yuan, with nearly 3400 stocks rising [1] Hot Sectors Consumer Electronics - The consumer electronics sector saw a collective surge, particularly in AI mobile phone concepts, with stocks like ZTE Corporation, Tianyin Holdings, and Daoming Optics hitting the daily limit. The release of a mobile assistant technology preview by Doubao, which is collaborating with multiple phone manufacturers, contributed to this momentum [2] Film and Television - The film and television sector strengthened, with China Film hitting the daily limit for the second consecutive day. The success of "Zootopia 2," which broke the single-day box office record for imported films in China, is seen as a positive indicator for the industry, suggesting a year of improvement in animation films [3] Metals - Precious metals, particularly silver, experienced a significant rise, with silver prices reaching historical highs. The dovish signals from multiple Federal Reserve officials and expectations of a rate cut have bolstered the demand for precious metals [4] Commercial Aerospace - The commercial aerospace sector remained active, with stocks like Qianzhao Optoelectronics reaching new highs. The establishment of a dedicated regulatory body for commercial aerospace by the National Space Administration marks a new phase for the industry, indicating a dual focus on demand and supply [5] Institutional Insights - CITIC Securities noted that the market is exhibiting characteristics of a slow bull market, with reduced volatility and improved Sharpe ratios. However, significant changes in domestic demand are necessary to unlock market potential. The focus should be on resource and traditional manufacturing sectors [6] - CITIC Jiantou suggested that any short-term declines could present better investment opportunities, with a focus on the upcoming Federal Reserve meeting and the Central Economic Work Conference for potential market movements. The anticipated cross-year market rally is attributed to several factors, including liquidity improvements from potential rate cuts [7] - Huazheng Securities expects continued high-level fluctuations in December, with a lack of significant events to drive risk appetite. The focus should be on sectors with clear trends, such as AI, while maintaining patience for future investment opportunities [7]

格隆汇12月1日｜A股市场影视股走强，其中，中国电影涨停，幸福蓝海涨超6%，金逸影视、光线传 媒、上海电影涨超3%。据网络实时数据，影片《疯狂动物城2》票房已突破19亿。截至11月30日21时， 2025年11月总票房35.41亿，也是继2019年11月后，11月票房再度突破35亿，《疯狂动物城2》成为11月 票房冠军。 ...

Group 1 - The release of "Zootopia 2" has revitalized the movie market, achieving a box office of over 1.8 billion yuan within five days and attracting over 45 million viewers [1][2] - The total box office forecast for "Zootopia 2" in mainland China has been raised to 4.263 billion yuan, positioning it to potentially surpass "Furious 8" and challenge "Avengers: Endgame" [1] - The film's popularity has led to a significant increase in cinema attendance, with some theaters reporting four times the average audience compared to the National Day holiday [1][2] Group 2 - Disney's global market performance has been bolstered by "Zootopia 2," with the entertainment segment's annual revenue increasing by 19% to 4.7 billion USD, despite a decline in fourth-quarter revenue [2] - Since 2020, Disney's animated films have struggled in the Chinese market, with none surpassing 500 million yuan in box office revenue until "Zootopia 2" [2] - The film has been distributed in China by local companies, leading to a surge in stock prices for several cinema chain stocks following its release [2]

Market Overview - The A-share market experienced a low opening but rallied to close higher, with the Shanghai Composite Index rising by 0.34%, the Shenzhen Component increasing by 0.85%, and the ChiNext Index up by 0.70%. Over 4,100 stocks rose, with a total trading volume exceeding 1.59 trillion yuan [1][3]. Local Stocks Performance - Local stocks in Chongqing surged after the Chongqing Municipal Government released a comprehensive reform pilot action plan for market-oriented allocation of factors. Chongqing Construction (600939) hit the daily limit, while other local stocks like Meili Xin (301307) and Zaiseng Technology (603601) also saw significant gains [3][4][7]. Sector Highlights - The film and television sector showed strong performance in the afternoon, with China Film (600977) hitting the daily limit and other companies like Happiness Blue Sea (300528) and Golden Eagle Film (002905) following suit [8][10]. Policy and Market Initiatives - The Chongqing government’s action plan aims to accelerate capital market development, enhance the listing of companies, and promote mergers and acquisitions. It also focuses on optimizing REITs project services and facilitating asset securitization [7]. Company Announcements - Chongqing Construction announced several winning bids, including a project worth 7.81 billion yuan and two projects totaling approximately 18.39 billion yuan [7]. Film Industry Insights - As of November 28, the 2025 film box office exceeded 47 billion yuan, with "Zootopia 2" grossing 5.59 billion yuan. The film's release has seen significant brand collaborations, indicating a growing demand for IP-related merchandise [11]. Market Outlook - Analysts remain optimistic about the film industry, citing the recovery of the box office driven by imported films and the potential for commercial resonance with derivative products. The media sector is expected to improve operational performance in the medium to long term [11].