北京商报讯（记者 程靓）最新数据显示，于2月正式上线的阅文漫剧《惊悚乐园》，截至目前在B站上 线48小时播放量即突破百万。该剧改编自阅文集团起点读书同名小说（作者：三天两觉），由OUTPUT 、bilibili、阅文集团联合出品。 制作过程中，OUTPUT 团队将行业先进的AIGC能力与传统动画制作流程积极结合，不仅致力于在保留 原著故事内核的基础上进行剧本打磨，更在生成式智能技术的应用上进行了深度探索与实践，用AI 技 术切实提升内容创作效率、拓展叙事表达方式、丰富视觉表现维度。 截至目前，阅文已有《诡异命纹》《大明贤婿》《刷爆无敌模拟系统》等十部作品播放量破亿、超百部 播放量破千万,为中腰部IP开辟出高效的视觉化通道。 阅文集团CEO兼总裁侯晓楠在日前发布春节内部信中表示，2026年，阅文将继续重点布局AI漫剧等新 场景，让更多好故事有机会被看见。 招商证券此前点评认为，沿着AI视频行业的研究框架，阅文集团是最为受益的，坚定看好阅文在AI应 用浪潮里的发展良机。光大证券也表示，阅文是稀缺的IP全产业链头部公司，在线阅读业务维持稳魍， 持续孵化新IP;受益于短剧、IP衍生品等新业务表现亮眼，以及未来加码AI ...

【申万传媒】阅文集团：全力布局漫剧，漫剧助手接入Seedance 2.0，投资酱油文化 AI漫剧显著降低动画与漫改的制作门槛和周期，使海量中腰部网文IP具备可规模化可视化的可能，＃有助于阅文 从"爆款驱动"转向"IP池变现"。 #阅文漫剧助手今日宣布即将接入Seedance 2.0模型。 阅文作为网文龙头，在线阅读基本盘稳固；IP变现方面，长剧电影游戏等深度内容外，探索出衍生品、短剧、漫 剧更"短平快"的新曲线。 期待IP价值释放。 ＃阅文25年即已对AI漫剧进行积极布局。 ＃阅文25年即已对AI漫剧进行积极布局。 开放十万部精品IP，设立亿元专项创作基金，推出AI工具漫剧助手；战略投资头部制作公司酱油文化。 CEO侯晓楠今日发春节内部信，表示阅文将在内容孵化、精品内容制作、IP开发、产业全球化等环节全面拥抱 AI，全力布局AI漫剧等新场景，提升IP的开发效率与价值空间。 开放十万部精品IP，设立亿元专项创作基金，推出AI工具漫剧助手；战略投资头部制作公司酱油文化。 < 【申万传媒】阅文集团：全力布局漫剧，漫剧助手接入Seedance 2.0，投资酱油文化 AI漫剧显著降低动画与漫改的制作门槛和周期，使海量中 ...

Core Viewpoint - The company's stock experienced an abnormal trading fluctuation, with a cumulative price increase of 41.48% over two consecutive trading days, exceeding the 30% threshold set by the Shenzhen Stock Exchange [1] Group 1: Stock Performance - The stock price increase occurred on February 9 and February 10, 2026, leading to a significant deviation in trading activity [1] - The cumulative price increase of 41.48% indicates a strong market reaction, which may attract investor attention [1] Group 2: Company Operations - The company confirmed that there have been no significant changes in its operational situation or external business environment recently [1] - There are no undisclosed major matters related to the company by the company, its controlling shareholders, or actual controllers [1] - During the period of abnormal stock fluctuation, there were no transactions involving the company's stock by its controlling shareholders or actual controllers [1]

阅文集团（00772）盘中涨超9%，截至发稿，股价上涨5.52%，现报36.32港元，成交额1.13亿港元。 招商证券此前点评认为，沿着AI视频行业的研究框架，阅文集团是最为受益的，坚定看好阅文在AI应 用浪潮里的发展良机。 光大证券也表示，阅文是稀缺的IP全产业链头部公司，在线阅读业务维持稳定，持续孵化新IP；受益于 短剧、IP衍生品等新业务表现亮眼，以及未来加码AI漫剧业务，阅文自有侧利润有望持续改善。 责任编辑：卢昱君 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 阅文集团（00772）盘中涨超9%，截至发稿，股价上涨5.52%，现报36.32港元，成交额1.13亿港元。 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 招商证券此前点评认为，沿着AI视频行业的研究框架，阅文集团是最为受益的，坚定看好阅文在AI应 用浪潮里的发展良机。 光大证券也表示，阅文是稀缺的IP全产业链头部公司，在线阅读业务维持稳定，持续孵化新IP；受益于 短剧、IP衍生品等新业务表现亮眼，以及未来加码AI漫剧业务，阅文自有侧利润有望持续改善。 责任编辑：卢昱君 ...

Core Viewpoint - The recent launch of ByteDance's Seedance 2.0 video generation model has sparked significant interest in the AI industry, with potential implications for companies like Reading Group (阅文集团) that possess strong IP reserves and platform traffic advantages [1] Group 1: Company Performance - Reading Group's stock rose over 9% in early trading, currently up 8.19% at HKD 37.24, with a trading volume of HKD 74.81 million [1] - The company is viewed as a primary beneficiary of advancements in AI video technology, particularly in the realms of AI short dramas and related content [1] Group 2: Industry Insights - The Seedance 2.0 model supports various input types, including text, images, videos, and audio, and has achieved breakthroughs in multi-modal thinking and narrative capabilities [1] - Open-source securities suggest that this could mark a "singularity" moment for AI in film and television, leading to significant cost reductions and efficiency improvements in production [1] - According to previous analyses by brokerage firms, Reading Group is well-positioned to capitalize on the AI application wave, with stable online reading business and promising new IP developments [1]

1月23日晚间，掌阅科技（603533）股份有限公司(以下简称"掌阅科技"或"公司")2025年年度业绩预告。 公司预计全年归属于上市公司股东的净利润约为-1.95亿元，扣除非经常性损益后的净利润约为-2.12亿元，较上年同期由盈转亏，为公司2017年上市以来 首次年度亏损。公告称，亏损主要因公司推进战略转型，短剧等衍生业务成为第一大业务板块，并采取"国内扩张、海外突破"双轮驱动发展模式，相关市 场推广与业务拓展投入大幅增加，短期对盈利能力形成拖累。尽管2025年前三季度公司营业收入同比增长28.68%，且第三季度亏损有所收窄，但全年仍 未能扭转亏损局面。 公告披露，经财务部门初步测算，预计2025年年度实现归属于上市公司股东的净利润约为-19,506.33万元，与上年同期相比，将出现亏损；预计2025年年 度实现归属于上市公司股东的扣除非经常性损益的净利润约为-21,227.82万元。 上年同期经营业绩和财务状况方面，2024年年度归属于上市公司股东的利润总额为7,658.28万元。归属于上市公司股东的净利润为4,929.17万元；归属于上 市公司股东的扣除非经常性损益的净利润为3,239.77万元。 关于 ...

Core Viewpoint - The company, Zhongwen Online, is facing significant financial challenges as it anticipates a substantial increase in net losses for 2025, primarily driven by its overseas short drama business, despite initial revenue growth in previous quarters [1][2]. Financial Performance - Zhongwen Online expects a net loss of 5.8 billion to 7 billion yuan for 2025, with limited impact from non-recurring gains [1]. - In the first three quarters of 2025, the company's revenue grew by 25.12% to 1.011 billion yuan, but the net loss expanded to 5.2 billion yuan, indicating a concerning trend of rising losses despite increasing revenue [1][2]. - The sales expenses reached 660 million yuan in the first three quarters, nearly doubling year-on-year, with Q3 sales expenses alone accounting for approximately 87% of that quarter's revenue [2]. Strategic Focus - The company has shifted its strategic focus multiple times over the years, from gaming and the metaverse to AI-generated content and overseas short dramas, but has struggled to achieve consistent profitability [3]. - Zhongwen Online's cumulative net losses from 2015 to 2024 exceeded 2.3 billion yuan, with projections indicating that total losses could approach 3 billion yuan by the end of 2025 [3]. Market Position and Potential - The overseas short drama market is still in its early stages, with significant growth potential compared to the domestic market, and is expected to be several times larger in the long term [5]. - The company holds a competitive position with its combination of content IP, production capabilities, and platform access, which theoretically enhances its long-term value [5]. Future Outlook - Key indicators for future success include whether customer acquisition costs peak, the sustainability of customer lifetime value (LTV), and the ability of AI tools to convert into cost advantages rather than additional expenses [5]. - The company plans to issue H-shares and list on the Hong Kong Stock Exchange to support its global strategy, which may help extend its runway and leverage additional resources [5][6]. - The upcoming period is critical for Zhongwen Online to demonstrate a clear path to profitability in its overseas short drama business, as market patience is limited [6].

Group 1 - The company, Zhongwen Online Group Co., Ltd., forecasts a significant net loss for the fiscal year 2025, estimated between 580 million to 700 million yuan, compared to a loss of 242.89 million yuan in the previous year, indicating a year-on-year decline of 139% to 188% [6][7][8] - The anticipated losses are attributed to increased promotional investments aimed at expanding overseas business, particularly in the short drama segment, which is currently in the investment phase and not yet generating sufficient revenue to cover costs [7][8] - The company emphasizes that the current financial strain is a strategic move for long-term growth, despite the short-term negative impact on financial performance [7]

Core Viewpoint - The company expects a significant increase in net loss for the fiscal year 2025, projecting a loss of 580 million to 700 million yuan, compared to a loss of 243 million yuan in the same period last year [1] Group 1 - The company is increasing its investment in overseas short drama business to expand its international operations [1] - The overseas business is currently in an investment phase, leading to substantial losses in net profit for the company [1] - The projected net loss for 2025 represents a considerable decline compared to the previous year's performance [1]

Core Viewpoint - The company is in a critical phase of expanding its overseas business and has significantly increased promotional investments to maintain competitive advantages, leading to substantial expected losses in 2025 [1] Financial Performance - The company anticipates a net loss attributable to shareholders of between 580 million yuan and 700 million yuan for the fiscal year 2025 [1]