观点网讯：2月10日，阅文集团发布盈利预警公告，预计2025财年权益持有人应占亏损约7.5亿至8.5亿 元，较2024财年同期亏损2.09亿元大幅扩大。 公告指出，2025年短剧持续高速增长对长剧和电影内容制作生态产生显著影响，新丽传媒调整生产策略 控制创作节奏，该举措可能影响其利润预期。本次减值后新丽传媒的商誉已全额减值，无需进一步计 提。 阅文集团表示，精品长视频内容构建的IP价值对集团IP生态至关重要，将持续打造精品内容。 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 根据公告，阅文集团表示，亏损主要受2018年收购新丽传媒产生的商誉减值影响，本次商誉减值支出约 18亿元，该支出为非现金性质，不影响集团现金流。 在非IFRS口径下，阅文集团预计2025财年权益持有人应占盈利约8亿至9亿元，较2024财年同期盈利 11.42亿元下降21%至30%，主要因新丽传媒利润减少所致。 ...

Rocket Launch - Huabao New Energy's outdoor power supply products have been widely applied in various high-difficulty off-grid power scenarios, including domestic rocket launches [1] - Taisheng Wind Power's rocket storage tank project is expected to officially start production by mid-2026 [1] Battery - Toxin Pharmaceutical currently does not have products or business related to brain-computer interface fields [1] Photovoltaics - Zerun New Energy has not yet conducted research and development on solar wing junction boxes [1] Media - Bona Film Group is involved in the production of "Fast and Furious 3," which is scheduled for nationwide release during the 2026 Spring Festival [1] Other - Taihe Technology's renovation of its original lithium iron phosphate production facility is expected to achieve an annual production capacity of 10,000 tons of sodium iron phosphate [1] - Li'ang Technology will continue to increase R&D investment in computing power, cloud computing, and cloud services [1] - Xinwei Communication currently holds a 15% stake in Xinwei Electric Science [1] - Boss Software is still held by Linzhi Tencent [1] - Xinke Mobile's satellite internet business is still in the investment phase [1] - Beijing Junzheng's new process products are expected to begin large-scale sales starting in the first quarter [1] - Xinbao Co.'s self-branded coffee machine Barsetto has a small domestic sales proportion [1]

新浪科技讯 2月10日晚间消息，阅文集团发布盈利预警公告。公告称，因计提新丽18亿元商誉减值，将 造成阅文2025年亏损7.5亿元至8.5亿元。同时因新丽利润减少，2025年阅文扣非利润将下降至8至9亿 元。 公告显示，近年来，观众对长剧和电影行业高品质内容的期待日益上升，同时在2025年短剧凭借碎片化 的观看习惯与快速迭代的生产特点持续高速增长，并对长剧和电影内容制作生态产生显著影响。面对这 一新的变化，新丽传媒始终坚守头部内容创作者定位，坚定不移地投入高品质精品视频内容制作。与此 同时，新丽传媒在生产策略上做出更为谨慎的调整，有意控制创作节奏，以期通过更充分的打磨来提升 内容质量。该举措可能延长剧本孵化、前期筹备、拍摄、后期制作等环节的周期，从而可能对新丽传媒 的利润预期产生重大影响。考虑到这些变化，阅文对新丽传媒的商誉进行了减值测试并计提减值拨备， 本次减值后，新丽传媒的商誉已全额减值。因此，不再存在需对新丽传媒商誉进行进一步计提减值的金 额。 公告内容还提到，从战略角度来看，在信息碎片化时代，精品长视频内容所构建的IP价值与情感沉淀， 形成了独特的核心壁垒，对阅文IP生态至关重要。阅文希望新丽传媒继续 ...

Market Performance - The Hong Kong stock market continued its volatile pattern, with all three major indices closing higher: Hang Seng Index up 0.58% at 27,183.15 points, Tech Index up 0.62% at 5,451.03 points, and the National Enterprises Index up 0.81% at 9,242.75 points [2] - AI applications, film, pharmaceuticals, and electrical equipment stocks showed strength, while some stocks in education and dining sectors weakened [4] AI and Entertainment Sector - The launch of Seedance 2.0 by ByteDance has sparked a revolution in AI video, with stocks like Reading Group rising over 15% [5] - Seedance 2.0 supports the generation of 5 to 15-second videos, marking a potential turning point in AI film and short content creation [7] Pharmaceuticals Sector - Via Biotechnology and WuXi Biologics saw stock increases of 5.26% and 4.65%, respectively, driven by positive earnings forecasts and a recovery in global biopharmaceutical financing [10][12] - WuXi AppTec's net profit is expected to increase by 103% year-on-year by 2025, with significant growth in clinical trial investments [10] Electrical Equipment Sector - Electrical equipment stocks like Dongfang Electric and Harbin Electric rose by 7.11% and 4.51%, respectively, due to increased demand from U.S. data center construction [13] - The successful bid for a gas turbine project in Kazakhstan marks a significant milestone for domestic high-end equipment manufacturing [15] Education Sector - Education stocks faced pressure, with New Oriental down 4.39%, but the sector remains in a recovery phase supported by favorable policies and AI applications [16] - The overall market adjustment is attributed to fund rotation, while the fundamental improvement logic remains unchanged [16] Dining Sector - Shanghai Xiaonan Guo saw a significant drop of 28.57% due to operational issues and store closures, raising concerns about cash flow stability in the dining industry [18][20] - The sale of core assets reflects pressure on the main business, intensifying market caution regarding the dining sector [20] Notable Stock Movements - Lexin Outdoor surged over 100% on its first trading day, driven by its strong brand and product development capabilities [20] - TCL Electronics rose by 4.07% following a positive earnings forecast and a strategic partnership with Sony [20]

博纳影业10日在投资者互动平台表示，公司参与出品韩寒执导的新片《飞驰人生3》，该影片已定档 2026年春节档全国院线上映。截至本回复日，公司仍是该电影主投方上海亭东影业的股东，具体股份数 详见公司于2025年12月17日披露的编号为2025-071号公告。电影票房有不确定性，敬请投资者注意投资 风险。 ...

Market Overview - The market experienced a slight decline in the morning session, with the three major indices showing minor drops [1] - The Shanghai Composite Index fell by 0.02%, the Shenzhen Component Index also decreased by 0.02%, and the ChiNext Index dropped by 0.14% [1] Sector Performance - The film and media sector saw a surge, with over 20 stocks, including Light Media, Chinese Online, and China Film, hitting the daily limit [1] - The dispersed dye concept continued its upward trend, with Haixiang Pharmaceutical achieving three consecutive limit-ups and Jihua Group achieving two consecutive limit-ups [1] - Conversely, retail and consumer stocks faced adjustments, with Xinhua Department Store experiencing a decline of over 8% [1] Trading Activity - The market saw a significant trading volume, with over 14.1 trillion yuan transacted in the morning session [1] - More than 2,800 stocks in the Shanghai, Shenzhen, and Beijing markets were in the red, indicating a broader market decline [1]

日前，记者从涉事制作方相关负责人处获悉，他们已在1月底前结清演员片酬。杨梅梅表示，她仍会继 续参与短剧拍摄，并希望行业能尽快建立更明确的规则，保障相关方合法权益。 为火热发展的短剧行业建立透明、规范的保障机制，依法保护创作者权益，成为亟待重视的现实课题。 北京市通州区人民法院审结的一起案件中，演员没有签订劳务合同，仅靠微信约定片酬，拍完戏后却被 公司以"未配合配音"为由扣掉三分之一片酬。 民法典规定，当事人订立合同，可以采用书面形式、口头形式或者其他形式。通州区人民法院经审理认 为，在网络微短剧等灵活用工场景中，双方通过微信等电子形式达成的合意，只要内容明确(如金额、 工作内容)，即构成有效约定。本案中，结合相关证据，可以确认双方在劳务合同中达成一致的劳务报 酬金额为3000元。 通州区人民法院审理认为，在网络微短剧拍摄、制作中，配音、补拍等拍摄衍生出的工作不属于演员默 认义务，须提前明确约定。若制作方未在合作前明确告知，不得以此为由克扣片酬。在本案中，被告公 司既无法证明提前和演员对配音费有明确约定，也不能证明具有相应的行业惯例，法院不予支持其扣除 配音费的主张。最终，法院判决被告公司给付演员剩余劳务费10 ...

北京市通州区人民法院审结的一起案件中，演员没有签订劳务合同，仅靠微信约定片酬，拍完戏后却被 公司以"未配合配音"为由扣掉三分之一片酬。 民法典规定，当事人订立合同，可以采用书面形式、口头形式或者其他形式。通州区人民法院经审理认 为，在网络微短剧等灵活用工场景中，双方通过微信等电子形式达成的合意，只要内容明确（如金额、 工作内容），即构成有效约定。本案中，结合相关证据，可以确认双方在劳务合同中达成一致的劳务报 酬金额为3000元。 通州区人民法院审理认为，在网络微短剧拍摄、制作中，配音、补拍等拍摄衍生出的工作不属于演员默 认义务，须提前明确约定。若制作方未在合作前明确告知，不得以此为由克扣片酬。在本案中，被告公 司既无法证明提前和演员对配音费有明确约定，也不能证明具有相应的行业惯例，法院不予支持其扣除 配音费的主张。最终，法院判决被告公司给付演员剩余劳务费1000元。 2026年1月，演员杨梅梅（化名）接受中青报·中青网记者采访时称，她参与拍摄的短剧已杀青半年多， 片酬却仍未结清。在剧中担任配角的她，自始至终未与制作方郑州某影视公司签订书面合同。在她熟悉 的短剧圈，除了少数主演，大量配角和特约演员的合作，往往始 ...

剧工会罢工导致好莱坞制作全面停摆。 距离好莱坞史上最惨烈的几场罢工结束，刚刚过去 26 个月。 如今，历史有可能再次重演。 2023 年结束罢工的合同即将到期 —— 编剧合同 5 月 1 日到期，演员合同 6 月 30 日到期。周一，双方 将与影视公司展开新协议谈判。 此次谈判所处的好莱坞，已与 2023 年截然不同。全行业制作大幅放缓，众多娱乐公司艰难适应流媒体 时代。大量演员、编剧和导演无工可开。与此同时，生成式人工智能的崛起成为更核心的议题。 周一的谈判将在代表数千名演员的美国演员公会 - 美国广播电视艺术家联合会（SAG-AFTRA），与影 视公司谈判组织电影和电视制片人联盟之间展开。预计未来数周将进行多轮磋商。 2023 年编剧与演员上次洽谈合同时，两场罢工曾让整个行业陷入停摆。 2023 年的演员工会与编 "我们正尽一切所能保障会员有工可做，" 演员工会首席谈判代表邓肯・克拉布特里 - 爱尔兰在采访中表 示，"这是他们的诉求，也是整个行业的诉求。话虽如此，我们绝不会接受对会员不公的协议。" 制片方联盟在声明中表示，"我们乐观地认为，双方能够达成一份公平协议，体现我们共同支持行业优 秀从业者、推动长 ...

Core Viewpoint - The emergence of "中剧" (mid-length drama) is gaining recognition in the industry, marking a shift in content categorization and production standards, with a focus on quality and narrative depth [1][21][27] Group 1: Industry Trends - The classification of "中剧" has been officially recognized, with a specific duration of 15 to 30 minutes per episode and a total of 12 to 24 episodes, indicating a formal acknowledgment of this content type [1] - In 2025, the number of network micro-short dramas increased by 20% year-on-year, while the number of horizontal short dramas on video platforms grew by 31%, reflecting a significant trend towards shorter content [2] - The average viewership (V30) for new horizontal short dramas has shown substantial growth, with top shows like "唐诡奇谭" achieving 15.08 million views per episode, surpassing previous records [3][4] Group 2: Content Quality and Production - The entry of well-known actors into horizontal short dramas has elevated the perceived quality and production values, transforming the genre from a low-tier option to a more prestigious format [6][8] - The integration of popular IPs into horizontal short dramas has become a strategy for long video platforms, enhancing the connection between different content types and expanding audience reach [10][12] - The trend of increasing episode lengths and total counts in horizontal short dramas, such as "朱雀堂" with episodes averaging around 17 minutes, indicates a shift towards more substantial storytelling [14] Group 3: Future of "中剧" - The establishment of "中剧" aims to fill the content gap between traditional long dramas and short dramas, providing a platform for deeper narratives without the excessive length of long dramas [23][25] - The success of shows like "唐诡奇谭" demonstrates the potential for "中剧" to thrive by combining elements of both long and short formats, appealing to audiences seeking quality storytelling [21][27] - The future of "中剧" will depend on its ability to differentiate itself from both long and short dramas, focusing on unique storytelling techniques and genre explorations to attract diverse audiences [25][27]