在政策规范与行业自律的双重推动下，微短剧行业正在从 " 野蛮生长 " 步入 " 精品化探索 " 阶段。 近年来，微短剧市场呈现爆发式增长态势，成为了中国影视行业最炙手可热的关键词。最新数据显示， 2024 年我国微短剧用户规模已达 6.62 亿， 网民使用率攀升至 59.7% ，全年行业总规模突破 504.4 亿元，首次超越传统电影 425.02 亿元的总票房，成为娱乐产业的重要支柱。 DataEye 研 究院预测， 2025 年微短剧市场规模将突破 680 亿元， 2027 年有望站上千亿台阶。这种爆发式增长背后，是移动互联网时代用户碎片化娱乐需求 的集中释放，也是内容产业数字化转型的必然结果。 然而，伴随行业高速发展，" 霸总逆袭 "" 甜宠高能" 等同质化内容泛滥、部分短剧的低俗化、价值导向模糊等问题也曾引发争议。为此，国家广电总 局在 2024 年确立了 " 分类审核"与" 持证传播 " 的管理框架，推动行业从粗放式发展向精细化管理转变。红果短剧等平台也积极响应，兼顾市场效 益与社会责任，为行业健康发展提供了制度保障，通过技术审核与人工筛查结合，确保内容符合主流价值观。 机制创新驱动内容 一个健康、可 ...

近日，"CMG首届中国微短剧盛典"在山东烟台隆重举行，为过去一年来微短剧行业出现的一批兼具情感穿透力与现实表现力的作品颁发荣誉。爱奇艺《原 罪》《七月的风是甜的》《搬砖吧，大小姐！》《唐诡奇谭》《楷模》《家里家外》共6部制播作品斩获殊荣，体现了爱奇艺在推动微短剧精品化方面不断 取得显著成效。 济宁市、苏州市、黄山市、鄂尔多斯市 年度微短剧影响力演员》 夏天妹妹、刘美含 (年度微短剧品质男演员) 李光复、张晨光 (年度微短剧品质女演员) 慧慧周、刘芸 总台年度期待微短剧上新 《奇迹》 《墨韵新生》 《舞动敦煌》 《灼灼不倾城》 《我在月球当包工头》 《唐诗三万首》 非遗意列微短剧 《平台年度期待微短剧上新 > 《唐诡奇谭》 《搏忆》 《山河回响》 《马背摇篮》 《反诈 · 猎蜂者》 十戊 陈 应 广 大 火 火 供 火 壬格格、徐梦洁 年度微短剧观众喜爱演员 白妍、贾翼瑄、刘念 吴夏帆、一航、刘擎 年度AIGC微短剧 } 《英雄》 《美猴王》 《中国神话》 《三星堆:未来启示录》 《新世界加载中》 年度微短剧表现力男演员 姚冠宇、代高政 年度微短剧表现力女演员 余茵、许梦圆 年度品质微短剧 > 《鹦鹉》 《法官 ...

优化跨境物流网络是深化金砖国家特殊经济区合作重要内容，杭州将支持开拓金砖国家及共建"一 带一路"国家往返国际航线，支持提升国际航空枢纽能级，加快萧山国际机场全球智慧物流枢纽建设。 据悉，阿联酋航空自7月30日起将开通杭州往返迪拜的直飞航线，每天运营一班，杭州将成为继北京、 上海、广州和深圳之后，阿联酋航空在中国开通的第5个门户航点。 支持金砖国家数字贸易企业在杭州设立总部；支持游戏、微短剧和网络小说等文化"新三样"企业出 海金砖国家；支持与金砖国家开展跨境直播合作，给予网络设施建设、海外推广等方面支持；鼓励企业 在迪拜等国际大宗商品贸易枢纽城市设立办事机构……近日，杭州市推出支持金砖国家特殊经济区中国 合作中心建设的若干措施（简称"若干措施"），深化与金砖国家经贸往来。 在金砖国家特殊经济区中国合作中心带动下，今年，杭州对金砖国家出口高速增长，1-5月，对金 砖国家（含伙伴国）出口额同比增长17%，进出口总额达935.97亿元，金砖国家市场越发成为推动我市 外贸出口增长的重要支柱。 今年3月，金砖国家特殊经济区中国合作中心正式落地浙江杭州，为推动金砖国家间合作搭建了高 能级平台。扩大双向投资水平是金砖国家特殊 ...

国家广电总局网络视听司21日发布关于抗战题材微 短剧的管理提示，要求微短剧行业市场主体要落实 播出、制作、宣发的主体责任，加强内容审核把关，杜绝抗战题材微短剧悬浮设定、幼稚剧情、伪主题 创作等不正之风。本次管理提示指出，为防止在涉抗战微短剧中出现低级红高级黑，就相关内容审核要 求再次重申如下：请各级广电管理部门要落实监督责任，微短剧行业市场主体要落实播出、制作、宣发 的主体责任，加强内容审核把关，避免将现代技术手段和知识技能粗暴嫁接到真实抗战情景，避免主角 个人能力超强的悬浮设定，避免出现违背 军事常识的"奇功""神技"，摒弃"我方超人化、敌方弱智化"的 幼稚化剧情，摒弃将家国叙事矮化为个人复仇的伪主题创作，杜绝缺乏历史逻辑的弘扬民族大义主题的 创作模式。 ...

夏日炎炎，方寸屏幕上的精彩故事正吸引着万千观众。随着暑期档的到来，《山河回响》《云端捕 手》《成何体统》等一批精品微短剧集中上线，涵盖反诈宣传、科幻探索、古装轻喜等多元题材，不仅 占据各大平台热播榜，更成为街头巷尾的热议话题。这一现象背后，是微短剧行业在政策规范与市场驱 动下，从快速扩张转向质量深耕的生动写照。 政策护航：全链条监管筑牢行业根基 微短剧的健康生长，离不开政策的精准引导。国家广电总局针对这一新兴业态，已构建起"分类分 层、备案编号、违规整治、AI治理"的全链条监管体系，为行业发展划定清晰边界。 据了解，"分类分层"管理依据内容题材、受众群体实施差异化审核，如针对青少年群体的作品强化 价值观导向审查；"备案编号"制度则要求所有上线微短剧需提前完成备案并获取唯一编号，实现"上线 即可追溯"；而针对AI生成内容可能存在的侵权、虚假信息等问题，专项治理行动已排查清理违规作品 超3000部。 "监管不是'紧箍咒'，而是'导航仪'。"业内人士表示，这套体系既守住了内容合规的底线，又为创 新留出空间。数据显示，2024年微短剧行业违规举报量较2022年下降78%，行业从早期的粗放生长逐步 迈入规范化轨道。 爱 ...

（原标题：2025Q2 文娱市场：在变革浪潮中寻找新航向） 在 2025 年第二季度，文娱市场犹如一片变幻莫测的海洋，既有传统领域的风云激荡，又有新兴赛道的蓬勃兴起。电影、剧集、综艺、微短剧等细 分市场各有千秋，共同勾勒出一幅精彩纷呈又充满挑战的画卷。政策的引导、技术的赋能以及消费需求的转变，成为推动市场前行的关键力量。 电影市场：寒意中期待曙光 2025 年 Q2 电影市场总票房仅 48.5 亿，同比下降 34.7%，在 2016 年以来历史同期中排名靠后。这一数据，无疑给电影行业泼了一盆冷水。尽管 共上映新片 119 部，其中国产片 83 部，市场供给数量相对充足，但票房成绩却不尽人意。《碟中谍 8：致命清算》以 4.6 亿问鼎，成为春节档后 最卖座的影片；五一档冠军影片《水饺皇后》4.2 亿排名第二位；《哪吒之魔童闹海》余热不减，以 3.7 亿票房挤进二季度三甲位置。然而，这样 的成绩难以掩盖市场整体的低迷。 回顾 Q1，春节档《哪吒之魔童闹海》带动全国票房达 244.1 亿元，同比增长 48.4%，创 2012 年以来最高纪录。与之相比，Q2 的 4 - 6 月全国票房 仅 48.42 亿元，同比暴跌 ...

红宝书（市场逻辑精选）20250717 2025.7.17 市场逻辑精选 逻辑红宝书 特别提示:下文涉及的题材或公司,内容罗列和篇幅长短,与后续涨跌无关,亦均非进行推荐,仅 作研究辅助。 一､机会前瞻 扇出封装:台积电称正全力推进 CoWoS 技术 ◇驱动:2025 年 7 月 17 日盘中消息，台积电称正全力推进整合型扇出封装(CoWoS)技术。台 积电美股盘前上涨 4%，公司预计第三季度销售额 318 亿美元至 331 亿美元，超过市场预估。 ◇扇出封装(CoWoS)技术:COWOS 制程是台积电的 3D 封装核心工艺之一，其核心工艺包括晶 圆级 TSV，晶圆布线 RDL，晶圆级芯片贴合 D2W，晶圆级凸点等一系列技术。HBM3/4 须通 过 CoWoS 实现与计算芯片异构集，HBM 产能直接受 CoWoS 制约。 ◇市场空间:2026 年全球市场超 100 亿美元，中国增速领跑(71%)，AI 芯片与 HBM 是核心驱 动力。 ◇核心公司: 通富微电:公司开发扇出型、圆片级、倒装焊等封装技术并扩充其产能；此外，积极布局 Chiplet、 2D+等顶尖封装技术。 兴森科技:公司 FCBGA 封装基板为芯片 ...

Report Summary Investment Rating - No investment rating information is provided in the report. Core View - On July 17, 2025, a total of 29 investment and financing events were disclosed in domestic and foreign venture capital markets, including 24 domestic enterprises and 5 foreign enterprises, with a total financing amount of approximately 11 billion yuan [3]. Detailed Summary by Category Fund Establishment - On July 16, a 1-billion-yuan AIC equity investment fund was registered in Xixian Fengxi New City, the first of its kind in Northwest China. Focusing on the electronic information industry, it's jointly initiated by Shaanxi Jinzi, Gongyin Capital, and Xi'an Industrial Multiplication Guidance Fund [3]. - On July 16, the founding meeting of the Saizhile AI Innovation Fund (Zhongchuang Phase III) was held. Its initiating shareholders include Sheng Ao Group and others, focusing on AI innovation projects [5]. Large-scale Financing - Kun KUN recently completed a Series A financing of over $50 million. It's an innovative technology company providing digital payment solutions for cross - border trade and other fields [6]. - Grain Boundary Technology completed a nearly $10 million Series B3 financing. The funds will be used for AI upgrade of its 3D graphics engine and R & D in related fields [7]. - Thinking Sky completed a Pre - A financing of over $10 million. It focuses on building an AI collaboration platform to solve content creation pain points [9]. Policy Focus - Dalian aims to cultivate new marine productivity, develop marine economy, and build a modern marine city [10]. - The Ministry of Finance and the State Taxation Administration adjusted the consumption tax policy for ultra - luxury cars, lowering the threshold to 900,000 yuan and exempting used cars from tax [11]. - Shenzhen issued policies to support the micro - drama industry, offering up to 2 million yuan in subsidies for eligible micro - drama projects [12][13].

Group 1: Stablecoin Legislation - The U.S. Congress has officially approved the stablecoin bill with a vote of 308 in favor and 122 against, awaiting Trump's signature for enactment [1] - The bill provides significant legitimacy for stablecoin issuers, with major players like JPMorgan and Bank of America viewing it as a prerequisite for entering the stablecoin market [1] - The next step for Congress is to advance a comprehensive legislative framework for the cryptocurrency industry [1] Group 2: Luxury Car Consumption Tax Adjustment - The Ministry of Finance and the State Taxation Administration have announced a reduction in the consumption tax threshold for ultra-luxury cars from 1.3 million yuan to 900,000 yuan [2] - Pure electric and fuel cell vehicles without cylinder capacity will only be taxed at the retail level, while those with cylinder capacity will continue to be taxed at both production (import) and retail levels [2] Group 3: OpenAI's ChatGPT Agent Release - OpenAI has launched the ChatGPT Agent, a general-purpose AI agent capable of autonomous thinking and action [3] - The ChatGPT Agent can select appropriate tools from its skill set, including Operator, Deep Research, and ChatGPT, to complete complex tasks [3] Group 4: Support for Free Trade Zones - The Ministry of Commerce has expressed support for free trade pilot zones to actively align with international high-standard economic and trade rules [4] - The initiative aims to enhance the construction of open platforms and accelerate the implementation of core policies for the Hainan Free Trade Port [4] Group 5: Market Insights - Guotai Junan predicts that the stock index may experience horizontal consolidation, which is seen as a preparation for new highs, with short-term market fluctuations [6] - Zheshang Securities suggests that the market may require horizontal consolidation in the short term, with limited downside potential and opportunities for individual stocks [7] - Dongfang Securities emphasizes that the technology growth sector remains a long-term market focus, supported by policy and industrial upgrades [8] Group 6: Policy Focus and Industry Developments - The Ministry of Housing and Urban-Rural Development is promoting new urban infrastructure construction and accelerating the upgrade of old pipelines, which may create more opportunities in the building materials industry [9] - Shenzhen has announced measures to support the micro-short drama industry, offering up to 2 million yuan in funding for projects [10] - Recent advancements in brain-computer interfaces have been reported, with 10 epilepsy patients achieving "thought-based communication," indicating a growing focus on medical applications in this sector [11]

Group 1 - The Ministry of Housing and Urban-Rural Development emphasizes the importance of urban renewal and the implementation of various livelihood, safety, and development projects [1] - The Ministry of Finance and the State Taxation Administration announced adjustments to the consumption tax policy for ultra-luxury cars, now applicable to vehicles with a retail price of 900,000 yuan (excluding VAT) and above [3] - The State Council's press conference reported that the national summer grain production reached 299.48 billion jin, marking the second-highest production year after last year [4] Group 2 - The Shenzhen government implemented measures to promote the high-quality development of the micro-short drama industry, including support for enterprises and projects [6] - JD.com responded to the recent competition in the food delivery industry, labeling the "0 yuan purchase" and "18-18" promotions as severe internal competition, stating that it did not participate [7] - The Shanghai Stock Exchange announced new trading limits for non-futures company members or clients on polysilicon and industrial silicon futures contracts starting July 21, 2025 [8] Group 3 - Zongheng Co. announced that its actual controller Ren Bin is getting divorced, which will result in the transfer of 11.41% of the company's shares to Kwang Mingfang [9] - Jintongling is facing criminal charges for fraudulent stock issuance and for violating important information disclosure regulations [10] - Shanghai Wumao announced that its subsidiary's data product "Non-ferrous Metal Spot Index Query" is currently in a "temporarily invalid" state [11] Group 4 - Fudi Technology announced it will exclusively supply the second-generation semi-solid eVTOL battery for the E20 model to Shanghai Shidi Technology [13] - Zhongwei Company reported a year-on-year net profit increase of 31.61%-41.28% for the first half of the year, while Hangzhou Bank reported a 17% increase [14] - ST Shengxun announced that shareholders plan to collectively reduce their holdings by 5.08% [15] Group 5 - The three major U.S. stock indices closed higher, with the Nasdaq up 0.74%, the S&P 500 up 0.54%, both reaching new closing highs, and the Dow Jones up 0.52% [16] - The U.S. House of Representatives passed the "Genius Act," aimed at significant legislative reform for cryptocurrency regulation, with a vote of 308 in favor and 122 against [17] - President Trump indicated that the U.S. may soon impose a 25% tariff on goods imported from Japan and could reach a trade agreement with India [18]