New TV Anime THE GHOST IN THE SHELL Unveils Music Staff, First Key Visual, and PV—Scheduled for July 2026 Premiere LOS ANGELES, Jan. 29, 2026 /PRNewswire/ -- To coincide with today's grand opening of "Ghost and the Shell: The Ghost in the Shell Exhibition" at TOKYO NODE, the first-ever large-scale exhibition encompassing the entire anime franchise, new details for the upcoming TV series THE GHOST IN THE SHELL have been officially revealed. This includes the music production staff, the first key visual, and ...

Table of Contents As filed with the U.S. Securities and Exchange Commission on January 26, 2026. Registration No. 333-[*] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MDJM LTD (Exact name of registrant as specified in its charter) Cayman Islands 7812 Not Applicable (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) (I.R.S. Employer Identification Nu ...

Table of Contents As filed with the U.S. Securities and Exchange Commission on January 26, 2026. Registration No. 333-[*] UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM F-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 MDJM LTD (Exact name of registrant as specified in its charter) Cayman Islands 7812 Not Applicable (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification Number) Fernie Castle, Letham Cupar, Fife, KY15 7RU United ...

AI漫剧正在从一个相对小众的尝试迅速走向主流。 DataEye研究院的数据显示，全年上线的漫剧数量达46931部，且在下半年呈现阶梯式爆发。另据巨量引 擎的数据，2025年，漫剧年度市场规模已突破200亿元。艾媒咨询预期这一增长态势将延续，2030年的 市场规模有望突破850亿元。 "2025年开始火的是AI漫剧的'真人风'，我判断2026年下半年会达到一个高点。"在加拿大爆火影视公司 制片人刘纯看来，AI漫剧并非横空出世，而是短剧工业化与动画生产逻辑在AI技术推动下的自然延 伸。随着技术成熟，制作方对 AI的接受度显著提高，其直接效果体现在拍摄周期缩短与成本可控。同 时，赛道门槛降低虽带来繁荣，但也加剧了侵权与抄袭风险，未来具备完整制作体系与行业经验的团队 更有可能实现长期发展。 踩中AI风口 本报记者 黎竹 张靖超 成都 北京报道 小林则向记者透露："目前市场开始'卷'起来了，每分钟甚至低至500元，三四百块钱（做Al漫剧）也有 人接。" 多家券商数据显示，漫剧2025全年的流水将达到真人短剧市场的三分之一，全年市场规模有望突破200 亿元，这不仅吸引了大量人才涌入，就连抖音、快手、阅文、B站（哔哩哔哩） ...

Core Viewpoint - The Netflix animated film "K-POP: The Witch Hunter" won the Best Animated Feature at the 83rd Golden Globe Awards, defeating Disney's "Zootopia 2," significantly increasing its chances for an Oscar nomination, while also sparking debates about its focus on popular culture over artistic depth [1][3]. Group 1: Awards and Recognition - "K-POP: The Witch Hunter" has previously won multiple awards during the awards season and its recent Golden Globe win enhances its Oscar prospects [1]. - The film is part of a growing trend where non-American animated films, particularly from East Asia, are gaining recognition in major awards, challenging traditional views held by institutions like the Academy [4][6]. Group 2: Industry Trends - The animation landscape is shifting, with increasing acceptance of non-traditional animated films at major awards, as seen with recent winners like Latvia's "The Cat's Magical Drift" and Guillermo del Toro's "Pinocchio" [6]. - The success of "K-POP: The Witch Hunter," which has garnered 5.41 billion hours of viewing on Netflix, indicates a significant shift towards fan-driven content in the animation industry, reflecting changing audience preferences [5]. Group 3: Cultural Impact - The film's integration of K-pop culture and superhero themes represents a merging of Eastern and Western storytelling styles, highlighting the evolving nature of animated content [5]. - The Academy's historical bias towards family-friendly animated films from studios like Disney and Pixar is being challenged by the popularity of films that cater to specific fan bases, suggesting a potential reevaluation of what constitutes "great" animation [4][5].

Core Insights - In 2025, animated films emerged as a key driver of box office performance in China, contributing nearly half of the total box office revenue of 518.32 billion yuan, with animated films generating 254.85 billion yuan [1][5][6] - The total box office for animated films in 2025 saw a remarkable increase of 272% compared to 2024, setting a new record for animated film box office in China [2] - The success of animated films like "Nezha 2" and "Zootopia 2" has raised questions about the sustainability of this trend in 2026, as traditional box office draws are losing their effectiveness [3][4] Industry Performance - The Chinese film market in 2025 included 289 films, with 57 being animated, accounting for approximately 19.7% of total releases [1] - The overall box office in 2025 grew by about 22% year-on-year, marking the second time since 2020 that the annual box office surpassed 500 billion yuan [5][6] - The market is experiencing a significant polarization, with a notable absence of films in the 2 billion to 3 billion yuan box office range, indicating a gap in mid-tier films [3][16] Factors Driving Animation Success - The rise of animated films is attributed to several factors, including the appeal of established IPs, industrial upgrades, and emotional resonance with audiences [8] - Animated films have successfully attracted a broader audience, including adults, by addressing complex themes while maintaining child-friendly elements [7][8] - The animation sector has shown resilience against the uncertainties faced by live-action films, which are often affected by star power and public controversies [7] Future Outlook - The animation industry is expected to continue evolving, with a shift towards IP-driven models that integrate licensing, merchandise, and new business collaborations [9][10] - Despite the current success, there are concerns about the sustainability of animated film production, as the number of new projects has not significantly increased [13][15] - The industry is facing challenges in maintaining a steady supply of high-quality animated films, with a limited number of strong IPs available for future releases [15][16]

Investment Rating - The investment rating for the industry is "Outperform the Market" (maintained) [1]. Core Insights - AI applications are entering a global acceleration phase, with both domestic and overseas markets continuing to expand on a high base. As of September 2025, overseas AI application monthly active users (MAU) have surpassed 1.2 billion, a year-on-year increase of 76.7%, while China's AI application MAU reached 490 million, growing by 172.3% [12]. - AI search, composed of AI chatbots and AI search engines, has become the core engine of AI application development, shifting user behavior from "searching links" to "asking AI for answers." This transformation is reshaping information access and making shopping recommendations a core use case, fundamentally changing brand communication models [12][18]. - The Generative Engine Optimization (GEO) is revolutionizing traditional marketing models, enabling better advertising effectiveness by allowing brands to be directly referenced in AI-generated answers rather than just appearing in search results [13][17]. Summary by Sections AI Marketing: GEO Reshaping Advertising Models - GEO enables a complete transformation of advertising strategies, allowing brands to be directly referenced in AI-generated responses, enhancing exposure and engagement [13][17]. - The shift from traditional SEO to GEO is evident, with brands needing to optimize for AI-generated content rather than traditional search engine visibility [21][30]. AI Short/Anime Series: Multi-Modal Capabilities Driving Market Explosion - AI-driven short series, utilizing AIGC technology, significantly lower production costs and improve efficiency, making it a high-growth area in the content market [33][42]. - The number of AI animation micro-short series launched has been increasing, with 2,902 episodes released from January to August 2025, primarily targeting a younger audience [45]. Market Growth and Company Benefits - The GEO market is expected to grow rapidly, with projections indicating a global market size of $24 billion by 2026 and $100 billion by 2030. In China, the GEO market is anticipated to reach 11.1 billion yuan by 2026 and 36.5 billion yuan by 2028 [30]. - Companies benefiting from this trend include technology providers and content platforms such as 引力传媒, 光云科技, and 哔哩哔哩, which are positioned to capitalize on the shift towards GEO [30].

Core Insights - The emergence of AI Manhua (AI-generated comics) represents a significant trend in the entertainment industry, combining traditional comic elements with advanced AI video generation technology to create engaging content rapidly and cost-effectively [1][2][4][10]. Group 1: Definition and Characteristics - AI Manhua is a blend of existing comic genres and new AI video generation technologies, resulting in a unique product that resembles both comics and animated series [2][4]. - The rapid production capabilities of AI Manhua allow for the creation of high-quality effects that would typically require months of work from traditional animators [4][10]. Group 2: Market Growth and Adoption - By the end of 2025, AI Manhua has rapidly replaced previous dominant formats in the genre, with platforms like Douyin and Kuaishou actively supporting its development [10][11]. - In the first half of 2025, over 3,000 AI Manhua episodes were launched, with a staggering growth rate of 83%, and Douyin alone saw over 6,500 new episodes in September [11][13]. Group 3: Cost Efficiency - The production cost of high-quality 3D animated content has been reduced to approximately 1,300 yuan per minute, compared to 15,000 to 40,000 yuan for traditional short films [21][23]. - AI Manhua can achieve even lower costs, with estimates as low as 400 yuan per minute under certain conditions, significantly altering the industry's cost structure [22][23]. Group 4: Revenue Potential - The revenue model for AI Manhua largely mirrors that of traditional short films, with predictions indicating that the "free-to-watch + advertising" model will dominate [25][27]. - Successful AI Manhua can generate substantial profits, with average net profits reaching 200,000 to 300,000 yuan for episodes with over a million views [25][28]. Group 5: Audience Demographics - AI Manhua attracts a younger audience compared to traditional short films, with a significant portion of viewers aged between 24 and 30, contrasting with the older demographics of short film audiences [30][32]. Group 6: Industry Challenges - The rapid growth of AI Manhua has led to a crowded market, with many new entrants facing difficulties due to a lack of experience and understanding of the production process [34][40]. - Issues such as copyright ambiguity and the prevalence of low-quality content pose risks to the sustainability of the AI Manhua industry [44][48].

Summary of Key Points from Conference Call Records Industry Overview - **Industry**: Content Industry, specifically focusing on the intersection of generative AI and entertainment - **Key Players**: Major entertainment companies (e.g., Disney, Sony) and generative AI developers (e.g., OpenAI, Udio, Suno) Core Insights and Arguments 1. **Generative AI Partnerships**: There has been a notable shift from conflict to collaboration between entertainment companies and generative AI startups, indicating a potential turning point for generative AI usage in the content industry [1] 2. **Creator Support**: The success of generative AI in content creation heavily relies on the acceptance and support from creators, which is currently mixed due to concerns over copyright and compensation [1] 3. **Disney-OpenAI Partnership**: Disney's $1.0 billion investment in OpenAI and the licensing agreement for using Disney and Marvel characters has faced strong opposition from animation unions and writers guilds, highlighting concerns over the impact on creators and the value of their work [2] 4. **Copyright Protection in Music**: Major record labels, including Universal Music and Warner Music, are focusing on protecting the rights of artists and songwriters through partnerships with generative AI companies, which explicitly safeguard their rights and compensation [3] Additional Important Content 1. **Backlash from Creators**: Despite the partnerships, there is a growing backlash from creators regarding the use of generative AI, emphasizing the need for fair compensation and recognition [1][2] 2. **Regulatory Concerns**: The ongoing legal disputes and calls for regulations during events like the Hollywood strikes indicate a complex landscape for generative AI in content creation [1][2] 3. **Cultural Differences**: The Disney-OpenAI partnership draws parallels to Japan's doujinshi culture, where fan-created works are valued, but the current model favors corporate compensation over creator involvement [2] This summary encapsulates the critical discussions and insights from the conference call records, focusing on the evolving dynamics between generative AI and the content industry, particularly in the context of copyright, creator rights, and industry partnerships.

Core Insights - Wuxiang New District in Nanning serves as a pivotal area for China-ASEAN exchanges, leveraging multiple national-level platforms to foster high-quality economic development [1] Electronic Information Sector - Nanning Chuxin Integrated Circuit Design Co., Ltd. specializes in R&D and sales of liquid crystal display driver chips, achieving mainstream performance and projected sales exceeding 400 million yuan this year [2] - The company has accumulated 94 intellectual property rights and established a collaborative industrial chain ecosystem, enhancing Guangxi's semiconductor industry [2] Advanced Manufacturing - Guangxi Aige Workshop Home Furnishing Co., Ltd. has upgraded its production line with AI technology, improving efficiency and driving local employment and income growth [3] Cultural Industry - Nanning Peak Culture Communication Co., Ltd. is the only animation enterprise in Guangxi with a full industrial chain, creating IPs that have reached over 80 countries and transformed into the AIGC track [4] - The company has developed a short video creation platform that generates culturally relevant content for Southeast Asia, promoting Chinese culture globally [4] Artificial Intelligence - The South AI Center in Wuxiang New District aims to build an AI industry cooperation hub with ASEAN, focusing on intelligent terminals and cross-border digital services [5] - Jieduanzhe Robotics, a subsidiary of Guangxi Shijiayi Technology Co., Ltd., is positioned as a key player in the robotics sector, supported by its parent company [5] Business Environment - The South AI Center Park offers customized services to optimize the business environment, attracting high-quality AI enterprises and cross-border projects [6] - Wuxiang New District hosts 9 national-level innovation platforms and 403 high-tech enterprises, showcasing a strong cluster effect in innovation and technology [6] Future Outlook - Wuxiang New District plans to cultivate its industrial ecosystem, enhance digital empowerment, and expand opportunities for private enterprises, contributing to the region's economic development [7]