阅文集团(00772)涨超4%，截至发稿，涨4.12%，报33.84港元，成交额2.29亿港元。 消息面上，12月11日，阅文集团官微发布2025年度短剧成绩单。据成绩单显示，2025年，阅文短剧累计 产出了超120部短剧，产能显著提升，其中《好孕甜妻》、《庶女以身入局》、《他野》等多部作品斩 获头部平台"爆剧"认证，现言、古装、年代剧、男频多赛道表现强劲。另外，阅文集团表示，近期还有 多部改编自阅文IP的短剧整装待发，包括《我真没想重生啊》《许你万丈光芒好》《我家娘子，不对劲 2》《极品家丁》等热门作品。 华金证券表示，艾媒咨询数据显示，2025年中国微短剧市场规模将达677.9亿元，同比上升34.40%，预 计2030年中国网络微短剧市场规模超1500亿元。过去爽剧类单一题材曾主导市场，随着行业发展与用户 审美提升，多元创新题材涌现，品牌IP定制成为主流。2025年1-8月短视频平台共上线233部品牌合作微 短剧，87个新品牌首次入局，品牌复投率超60%，同比显著提升。 ...

同时，网络小说完整的世界观架构和动辄超百万字的篇幅体量为短剧的系列化创作提供了丰富的素材 库，使得短剧能够保持情节的连贯性和深度，满足观众对于长线叙事的需求。 本报讯(记者李豪悦)12月11日，阅文集团旗下短剧品牌阅文短剧发布了2025年度成绩单。2025年，阅文 短剧累计产出了超120部短剧，产能显著提升；其中多部作品斩获头部平台"爆剧"认证，现言、古装、 年代剧、男频多赛道表现强劲，彰显了其在短剧领域的强大影响力。 在短剧编剧方面，阅文短剧依靠阅文集团的作家生态，在行业中率先帮助网文作家成功跨界短剧行业。 在制作层面，阅文短剧也更加精益求精，除了搭建完善短剧自制能力外，阅文短剧还与视觉天使、飞鸟 与鱼、壹拍即火、北派彪叔、河舟影视、无糖文化、5点半、兆罡影视等多家业内顶尖的短剧制作机构 建立了良好的合作关系。视觉天使总监制林国华感慨："跟阅文作者合作的五十多部剧里，很多IP能让 我们突破场景和人物限制。" 多元化题材成功的背后是阅文短剧持续沉淀的爆款方法论。阅文白金作家、金牌编剧公子衍曾表示，此 前短剧题材更多地集中在"霸总""逆袭"等题材上，但目前短剧观众对题材呈现出较大包容度，无论是霸 总、仙侠、女频 ...

格隆汇11月18日丨小鱼盈通(00139.HK)宣布，于2025年11月18日，公司与浙江出海数字技术有限公司 (目标公司)订立战略投资谅解备忘录。战略投资谅解备忘录之主要条款载列如下。待签订正式协议后， 公司(或其指定实体)拟对目标公司(或其控股公司)进行投资，投资额最高占其40%股权。 目标公司为一间于中国注册成立之有限责任公司。据公司所知，目标公司及其附属公司(「目标集团」) 主要从事数字经济领域业务，并积极经营网路短剧行业，推出了「百川」、「剧星」、「GoSee」等短 剧业务平台，业务覆盖全球二十几个国家，构建了全球领先的「IP开发－创作－发行－聚合交易－代币 服务」全链路闭环生态，区别同行，独秀一枝。目标公司汇聚百家以上头部内容供应商，掌控十万量级 线上线下全场景宣发终端，坐拥十万核心推广社媒矩阵，成就行业顶级资源网路，强势引领短剧产业升 级，打造世界级短剧数字平台。据公司所知，目标集团持有业务所需之一切必要牌照。 ...

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。 （前稱 Central Wealth Group Holdings Limited 中達集團控股有限公司） （於百慕達註冊成立之有限公司） （股份代號：139） 有關可能投資一間公司之戰略投資諒解備忘錄 小魚盈通控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈，於二零二五年十一月十八日，本公司與浙江出海數字技術有 限公司（「目標公司」）訂立戰略投資諒解備忘錄（「諒解備忘錄」）。戰略投資諒解 備忘錄之主要條款載列如下。 戰略投資諒解備忘錄 日期： 二零二五年十一月十八日 訂約方： 本公司 目標公司 目標公司為一間於中華人民共和國（「中國」）註冊成立之有限責任公司。經董事會 作出一切合理查詢後所深知、盡悉及確信，目標公司及其最終實益擁有人均為獨 立第三方。 兹提述本公司日期為二零二五年八月十八日的公告，內容有關與目標公司訂立諒 解備忘錄。本公司宣佈，其已完成對目 ...

Core Insights - The 19th Hangzhou Cultural Expo highlighted the global impact of China's cultural "new three samples" including online literature, web dramas, and online games, with significant international engagement and recognition [1][3][6] Group 1: Cultural Industry Growth - Hangzhou's cultural industry has been a focus for over 20 years, with its added value surpassing 1 trillion yuan in 2016, 2 trillion yuan in 2020, and exceeding 3 trillion yuan in 2023, maintaining a leading GDP share nationally [3][6] - The city has 343 cultural enterprises in the "new three samples" sector, accounting for about two-thirds of the province, and has cultivated 85 key national cultural export enterprises [1][3] Group 2: International Expansion - In 2024, Hangzhou's cultural product exports are projected to reach $1.8 billion, with online games and animation being the primary drivers [7] - The overseas market for Chinese games is expected to generate $18.557 billion in revenue in 2024, constituting 33.62% of total revenue for Chinese game companies [6][7] Group 3: Digital Integration - By mid-2025, revenue from digital cultural enterprises in Hangzhou is expected to reach 466.2 billion yuan, making up over 78% of the total revenue from cultural enterprises in the city [3] - The integration of digital technology into the cultural industry is a key growth driver, with companies leveraging AI for content creation and distribution [10] Group 4: Content and Market Adaptation - High-quality content and its adaptability to overseas markets are crucial for successful international expansion, as demonstrated by companies like NetEase, which has launched over 150 games globally [7][9] - The shift from "borrowing boats" to "building boats" for overseas expansion reflects a trend towards controlling the entire production and distribution chain [9] Group 5: Cultural Integration Challenges - While short dramas have gained popularity overseas, true cultural integration remains a challenge, requiring careful design to resonate with international audiences [11][13] - The success of culturally rich products like "Black Myth: Wukong" illustrates the potential for deep cultural immersion and resonance with global players [11][13] Group 6: Collaborative Synergy - The synergy between online literature, web dramas, and online games is forming a robust industry ecosystem, with over one-third of writers in the Chinese online writer village engaging in short drama creation [13] - As the industry matures, the focus is shifting from mere product output to a deeper understanding of Chinese cultural values [13]

Core Viewpoint - The overseas short drama market is seen as a "100 billion dollar blue ocean," but its growth relies heavily on user novelty and impulse consumption, facing challenges from content homogenization and aesthetic fatigue [4][34]. Group 1: Market Overview - The short drama platform ReelShort has emerged as a leader in the overseas market, capturing a 29.13% market share in the U.S. short drama sector, which generated $102 million in revenue in August 2025, reflecting a 4.48% month-over-month growth [5][6]. - In the first half of 2025, the overseas short drama market saw Chinese companies dominate the revenue rankings, with ReelShort, DramaBox, and GoodShort earning $264 million, $233 million, and $104 million respectively [9]. Group 2: Financial Performance - Despite significant revenue growth, ReelShort's parent company, Crazy Maple Studio (CMS), reported a net loss of 46.51 million yuan in the first half of 2025, contrasting with a net profit of 22.93 million yuan in the same period of 2024 [9][18]. - CMS's revenue surged to 2.76 billion yuan in the first half of 2025, marking a 154.14% year-over-year increase, but the financial performance indicates a typical "increased revenue without increased profit" scenario [9][37]. Group 3: Business Model and Strategy - ReelShort's business model combines "Chinese core + American production + fast-paced logic," allowing it to efficiently produce dramas at a cost of $300,000 per episode within three months [20][21]. - The platform targets U.S. women aged 18 to 45, particularly stay-at-home mothers, using social media advertising to drive impulse consumption [21][28]. Group 4: Competitive Landscape - The competition in the overseas short drama market is intensifying, with rising customer acquisition costs and a need for platforms to establish scale advantages to succeed [22][37]. - The domestic short drama market in China is also experiencing rapid growth, with a projected market size of 67.79 billion yuan in 2025, driven by platforms like Hongguo Short Drama, which utilizes a free-to-watch model supported by in-app advertising [25][31]. Group 5: Cultural and Market Challenges - The success of ReelShort raises questions about whether it represents a victory for Chinese cultural output or merely a flow of traffic, as the content is heavily localized for American audiences [33][34]. - The industry faces anxiety over the sustainability of growth, as the reliance on novelty and impulse consumption may lead to challenges when user interest wanes [34][41].

Core Insights - The core viewpoint of the articles emphasizes the growth and transformation of Chinese online content, particularly in the short drama sector, driven by innovative business models and strategic international expansion [1][5][7] Financial Performance - In the first half of 2025, the company reported revenue of 556 million yuan, representing a year-on-year growth of 20.40% [1] - The short drama market in China is projected to reach 634 billion yuan by 2025, with a user base of 662 million by the end of 2024 [1] Industry Trends - The short drama industry is evolving from a "fast-moving consumer product" to a "new mainstream content" [1] - The National Radio and Television Administration has emphasized the importance of high-quality content in the short drama sector, advocating for a focus on premium production [2] Strategic Initiatives - The company has shifted its strategy from "copyright distribution" to "content production," establishing a dedicated short drama department and a self-produced drama team [3] - Successful short dramas have achieved significant viewership, with titles like "A Piece of Cloth" surpassing 2 billion views within 20 days [3] Content Ecosystem - The company supports over 5.6 million content resources and 4.5 million authors through platforms like 17K Novel Network, facilitating the adaptation of web literature into short dramas [4] - The introduction of AI tools has enhanced production efficiency, with over 100 AI-generated dramas produced in the first half of 2025 [4] International Expansion - The company is focusing on overseas markets, with the newly launched FlareFlow platform showing a user revenue growth of over 500% within three months [5] - The strategy includes building local teams in target markets to ensure culturally relevant content while leveraging AI for cross-cultural storytelling [6] Conclusion - The short drama industry is experiencing a shift towards high-quality content, with the company positioning itself as a leader in both domestic and international markets [7] - The evolving consumer habits and demand for cross-cultural narratives present significant opportunities for growth in the global content landscape [7]

Core Viewpoint - Company has signed a memorandum of understanding with Zhejiang Chuhai Digital Technology Co., aiming to invest in the target company, which operates in the digital economy and online short drama industry [1] Group 1: Company Overview - Target company and its subsidiaries are engaged in the digital economy, specifically in the online short drama sector, with platforms like "Bai Chuan," "Ju Xing," and "GoSee" [1] - The target company operates globally in over twenty countries, establishing a leading full-chain ecosystem in "IP development - creation - distribution - aggregation trading - token services" [1] - Company has partnered with over a hundred top content providers and controls a vast network of promotional channels, boasting a core social media matrix of around 100,000 [1] Group 2: Industry Potential - The short drama industry is experiencing rapid growth, and the target company is seen as a promising investment opportunity for the company to enter this high-growth sector [1] - The target group possesses all necessary licenses required for its business operations, indicating compliance and readiness for expansion [1]

（股份代號：139） 有關可能投資一間公司之諒解備忘錄 小魚盈通控股有限公司（「本公司」，連同其附屬公司統稱「本集團」）董事（「董事」） 會（「董事會」）宣佈，於二零二五年八月十八日，本公司與浙江出海數字技術有限 公司（「目標公司」）訂立諒解備忘錄（「諒解備忘錄」）。諒解備忘錄之主要條款載 列如下。 諒解備忘錄 日期： 二零二五年八月十八日 訂約方： 本公司 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。 （前稱 Central Wealth Group Holdings Limited 中達集團控股有限公司） （於百慕達註冊成立之有限公司） 目標公司 目標公司為一間於中華人民共和國（「中國」）註冊成立之有限責任公司。經董事會 作出一切合理查詢後所深知、盡悉及確信，目標公司及其最終實益擁有人均為獨 立第三方。 諒解備忘錄之主要條款 待簽訂正式協議後，本公司（或其指定實體）擬對目標公司進行投資（包括但不限 於收購目標公司股權）。 於簽訂諒解備忘錄後，本 ...

以下文章来源于馒头说 ，作者馒头大师 馒头说 . 来来来，听馒头说一说 本文来自微信公众号： 馒头说 ，作者：馒头大师，原文标题：《【馒游记】我在横店拍短剧》，题 图来自：AI生成 这个栏目真的很久没更了。 今年因为各种机缘巧合，读了一个商学院，班上有从事各行各业的同学。 海苏同学是投资拍网络短剧的，我表示对这个行业挺感兴趣的，说有机会给我安排一个跑龙套的角 色，体验一下。 我们开车抵达横店的时候，已经是晚上8点过了。 海苏说，要先去锦皓宾馆，化个妆，然后去试三套衣服，拍个定妆照。 锦皓宾馆看上去有点老旧，海苏告诉我，拍这部剧期间，剧组都住这里——一般一部短剧长度是70 集到100集 （90秒左右一集） ，拍摄周期是七天。 给我化妆的叫小露。由于我一直剃的是寸头，倒也不用弄什么发型，脸上抹点粉就行了。 海苏很重视，没过多久就给我安排了一个"集团总经理"的小龙套，有那么几句台词。 于是，就有了这次横店之旅。 印象很深，想到这个栏目，作文以记之。 1 "还是要感谢短剧流行起来了，让我现在不断有活儿干！" 小露说她做化妆师已经十多年了，从"横屏"转过来的。 "横屏"，一般指传统的电视剧、电影，也有中剧和短剧，特点就 ...