2025企业社会责任论坛会场，参会人员在交流。 参会人员在听会。 力赋能高质量发展论坛会场。 以上图片均为本报记者张武军摄 培育壮大农业新质生产力 2025企业社会责任论坛分论坛——新质生产 陕西农业发展集团有限公司党委副书记 汪小明 陕西农业发展集团聚焦农林牧渔、乡村建设等，构建从农田到餐桌的全产业链条。 立足产业需求，将低效土地改造为高产良田，建成中国杨凌耕地保护与质量提升创新中心，培育的80余 个农作物新品种通过审定。 构建"国企牵头+高校支撑+机构协同"创新联合体。联合西北农林科技大学等高校开展技术攻关，牵头 完成的"砒砂岩与沙复配成土造田关键技术及工程应用"项目获国家科学技术进步奖二等奖，参与发起设 立的陕西首只种业基金落地。 搭建"1+N"创新中试平台体系。依托集团农场、加工园区等场景，推动技术成果迭代优化。通过"揭榜 挂帅""后补助"等机制强化创新激励，培育6名陕西省科技创新领军人才，构建起"首席引领+骨干支撑 +全员协同"的良性创新生态。 集团将持续秉承"创新、绿色、融合、效能、智慧、共享"理念，为培育壮大农业新质生产力、推进农业 农村现代化贡献更多智慧和力量。 (本报记者任筱霞整理) 全力以 ...

培育壮大农业新质生产力 陕西农业发展集团有限公司党委副书记汪小明 陕西农业发展集团聚焦农林牧渔、乡村建设等，构建从农田到餐桌的全产业链条。 立足产业需求，将低效土地改造为高产良田，建成中国杨凌耕地保护与质量提升创新中心，培育的80余 个农作物新品种通过审定。 构建"国企牵头+高校支撑+机构协同"创新联合体。联合西北农林科技大学等高校开展技术攻关，牵头 完成的"砒砂岩与沙复配成土造田关键技术及工程应用"项目获国家科学技术进步奖二等奖，参与发起设 立的陕西首只种业基金落地。 搭建"1+N"创新中试平台体系。依托集团农场、加工园区等场景，推动技术成果迭代优化。通过"揭榜 挂帅""后补助"等机制强化创新激励，培育6名陕西省科技创新领军人才，构建起"首席引领+骨干支撑 +全员协同"的良性创新生态。 集团将持续秉承"创新、绿色、融合、效能、智慧、共享"理念，为培育壮大农业新质生产力、推进农业 农村现代化贡献更多智慧和力量。 破解科技与产业融合不够的难题，打造高能级产业创新生态系统，畅通融合转化通道。通过打造以企业 为主导的产业创新枢纽，强化金融活水灌溉，并优化软环境，力争以一流的生态孕育和发展一流的企业 与产业。 （人民 ...

Core Viewpoint - Jason Entertainment Group has completed a new round of strategic financing amounting to several hundred million yuan, aimed at enhancing its core IP product innovation and market expansion [2][3] Group 1: Financing and Investment - The recent financing round was led by CCTV Media Fund, 37 Interactive Entertainment, and the Guangdong-Hong Kong-Macao Greater Bay Area Cultural Industry Investment Fund, with existing shareholders increasing their stakes [2] - The funds will be allocated to two main areas: product innovation and market expansion, focusing on the iteration of key product lines and exploring new product forms [2] Group 2: IP Development and Market Strategy - Jason Entertainment's original IP "Capybara - Tun Kaka" animation has launched on mainstream platforms and has established collaborations with several well-known consumer brands, showcasing the commercial extensibility of its IP [2] - The company has demonstrated its ability to transform popular culture into blockbuster products, as evidenced by the record sales of derivatives launched around the popular film IP "Nezha: Birth of the Demon Child" earlier this year [2] Group 3: Strategic Positioning - Jason Entertainment has shown potential beyond being a single product company, with a matrix of over 500 global IPs and an efficient supply chain system [3] - The strategic positioning aims to build a cross-category, all-channel IP ecosystem platform, allowing the company to occupy a favorable position in China's vast IP derivative market [3] - With the new capital, Jason Entertainment is expected to deepen the integration of its IP operations and product capabilities with the resources of its strategic investors, marking a significant step towards platformization and ecological operation [3]

IP衍生品的火爆，并非偶然。在快节奏、高压力的现代社会中，人们越来越倾向于通过消费获取即 时的情绪满足。一个电影角色公仔、一个品牌联名杯套，看似微不足道，却承载着粉丝对角色的喜爱、 对故事的共鸣，甚至是对理想自我的投射。这种"为快乐付费"的心理，本质上是对精神慰藉的主动追 寻。而盲盒机制的不确定性，更将这种情绪体验放大：拆盒前的期待、拆开后的惊喜或失落，构成了微 型的情感过山车，精准契合了Z世代对"仪式感"与"参与感"的需求。 据媒体报道，随着《疯狂动物城2》热映，IP衍生品消费再次掀起热潮，从盲盒公仔到联名杯套， 年轻人为爱"氪金"，为情买单。数据显示，2025年中国IP衍生品市场规模预计达753亿元，同比增长超 六成。表面看，这是消费活力的体现；深层看，这折射出当代青年对"情绪价值"的强烈渴求。他们买的 不是商品，而是情感寄托、身份认同与社交货币。 真正的IP生命力，不在短期销量，而在能否持续传递打动人心的精神内核。故宫文创之所以备受欢 迎，不仅因其设计精巧，更因它让传统文化"活"了起来。反观当下一些IP，形象尚未成型便急于变现， 授权泛滥、品质参差，最终透支用户信任。正如专家所言，IP衍生品的核心竞争力 ...

Core Insights - The third installment of the "Tang Dynasty Strange Stories" series, titled "Tang Dynasty Strange Stories: Chang'an," premiered on November 8, achieving a heat value exceeding 8800, setting a record for the highest premiere rating for ancient detective dramas on iQIYI [1] - The show received a high Douban rating of 8.1 within a day of its release, breaking the "sequel curse" [1] - Following the show's success, a blind box series related to the IP quickly topped the hot search list for derivative products shortly after its pre-sale launch [1] IP Derivative Market Growth - The "2025 China Digital Entertainment Industry IP Development Report" forecasts that the market size for IP derivative products in China will reach 75.3 billion yuan by 2025, reflecting a year-on-year growth of 62.8% [4] - The growth of derivative products is becoming increasingly diversified, with collectible cards driving growth in 2024 and blind box products leading in 2025 [4] - Multiple IPs are expected to see sales growth exceeding 100% in 2024 or 2025 across various sectors, including gaming, animation, film, and original characters [4] Market Challenges - Despite the apparent growth in the IP derivative market, structural issues such as ineffective promotional channels and a lack of content innovation are emerging as key constraints [6] - Nearly 47.7% of interested consumers struggle to access comprehensive information about new products, while less than 10% find it easy to obtain such information [7] - The market shows a reliance on older IPs, with a decline in the supply momentum for new IPs, particularly in the gaming sector [9] Recommendations for Improvement - To enhance the derivative product market, it is essential to establish efficient and transparent promotional channels and encourage innovation in content creation [9] - Selecting appropriate agents and strengthening management are crucial for improving the market, as demonstrated by the successful IP strategy of "Peppa Pig" [11] - Continuous collaboration between IPs and other industries is vital, with significant economic benefits observed from such partnerships [12]

Core Insights - The 2025 Jason Entertainment Group Autumn New Product Launch Conference showcased the company's strategic direction and its commitment to building a global IP ecosystem through diverse product categories and collaborations with major IP partners like Disney [1][2][4] Group 1: Company Strategy - Jason Entertainment aims to position itself as a creator of IP derivative ecosystems, focusing on deep emotional connections with IPs and developing diverse products while integrating online and offline channels for consumer engagement [2][3] - The company has expanded its business to cover various categories including collectible cards, TCG, toys, and AI products, establishing itself as a comprehensive cultural entertainment group [2][8] Group 2: Product Development - The company plans to launch innovative "Card 2.0" products with high-end collectible attributes and expand into new categories such as trendy toys and AI smart hardware [3][5] - Upcoming product lines include the "MONSMOTO" trendy toy series and collaborations with international IPs like Disney, Star Wars, and Marvel, indicating a strong market potential [6][8] Group 3: Strategic Partnerships - Jason Entertainment has established partnerships with over 500 IPs and signed strategic agreements with companies like Golden Eagle Cartoon and Prism Intelligent Creation to enhance its IP ecosystem [4][5] - The collaboration with Ling Shu Animation focuses on developing exclusive IP derivative products and interactive features, bridging virtual and real-world experiences [4][5] Group 4: Market Trends - The IP derivative market is projected to grow significantly, with estimates suggesting that the Chinese IP toy consumption market will exceed 100 billion yuan by 2027 [8] - The rise of the Z generation and new middle-class consumers is driving the demand for diverse product offerings in the IP toy sector, presenting new growth opportunities for brands [8]

Core Insights - The "My Little Pony Star Wish Party" pop-up event, in collaboration with Hasbro, aims to stimulate consumer enthusiasm during the Golden Week holiday by launching over 100 new merchandise items, particularly focusing on plush products to attract the young consumer market [1][8] Product Highlights - The plush series is a key highlight of the event, featuring three main product lines: "Fly With Me," which conveys freedom and vitality; the "Magical Garden" series that combines vibrant colors with soft materials; and the original Pony series that evokes nostalgia among fans [2][8] - A new plush series, "My Little Pony Girls," makes its debut in China, showcasing meticulous craftsmanship and practical sizes for everyday use, enhancing the concept of "autumn plush companionship" [2][3] Consumer Engagement - The event includes interactive activities such as collecting stamps of My Little Pony characters and themed photo spots, attracting families and young couples to participate in a "treasure hunt" experience [6][8] - Special limited-edition gift boxes, including a My Little Pony-themed stamp box in collaboration with Shanghai Post and Halloween-themed trading cards, cater to collectors and enhance the event's appeal [3][6] Market Trends - The adult toy market is experiencing growth, with plush products gaining popularity due to their collectible and emotional value, particularly among younger consumers seeking "emotional value" [6][8] - The event reflects a broader trend in the IP derivative product industry, shifting from functional products to emotional consumption, thereby extending niche market consumption to a wider audience [8]

Core Insights - The "My Little Pony" themed pop-up event, held in major cities, aims to engage the young consumer market and reflects the trend of emotional consumption in the IP derivative products industry [1][3][10] Group 1: Event Overview - The pop-up event features over 100 new merchandise items, focusing on plush products to stimulate holiday consumption among young consumers [1][3] - The event is strategically located in key commercial areas of Beijing, Shanghai, and Wuhan, targeting young professionals and students [9] Group 2: Consumer Trends - There is a noticeable shift in the consumer demographic, with over 60% of attendees being adults aged 20-35, indicating a transition from traditional child-focused consumption to adult emotional consumption [4][9] - The event highlights the growing trend of "emotional consumption," where products serve as both decorative items and stress relievers for consumers [4][10] Group 3: Product Offerings - The plush series is central to the event, featuring high-quality replicas of classic characters and interactive elements that enhance emotional connections with the brand [3][4] - Limited edition gift boxes and practical merchandise, such as music boxes and plush accessories, are introduced to enrich consumer choices and add cultural significance to purchases [5][10] Group 4: Market Implications - The event exemplifies the integration of IP economy with holiday consumption, showcasing how IP derivative products can transition from niche markets to mainstream appeal [9][10] - The innovative approach of combining new product launches with interactive experiences is seen as a model for driving foot traffic and enhancing consumer engagement in physical retail spaces [10]

Group 1: Overall Industry Performance - The media sector's half-year report shows record high operating scale and significant profit growth for H1 2025, with performance differentiation among sub-sectors [1] - The gaming sector demonstrates strong growth potential, with A-share gaming companies reporting nearly 24% year-on-year revenue growth and approximately 75% net profit growth [1] - The publishing sector faces revenue decline due to changes in educational material subscription methods and shrinking demand for general books, but profits have increased due to favorable tax policies [1] Group 2: Gaming Sector Insights - The gaming industry benefits from high market sentiment and supportive policies, with user ARPU increasing and market scale growing steadily [1] - AI's contribution to cost reduction and efficiency improvement is notable, with R&D expense ratios decreasing from 11.02% in H1 2024 to 9.01% in H1 2025 [1] - Companies are encouraged to focus on product cycles, performance, and new product development in the gaming sector [1] Group 3: IP Derivative Products - The rise of cultural consumption in China is driven by generational shifts, with younger consumers favoring emotional spending, social currency, and collectibles [2] - The maturity of the IP licensing commercialization system and advantages in domestic manufacturing supply chains are boosting the demand for IP derivative products [2] - Content companies are increasingly exploring IP derivative businesses to optimize revenue structures and enhance profitability [2] Group 4: Publishing Sector Analysis - The publishing sector shows stable performance with good profit quality and low valuations, making state-owned publishing companies attractive for long-term investment [3] - High dividend yields of over 5% in some companies provide defensive investment value [3] - Several state-owned publishing companies are advancing digital transformation using AI technologies to improve performance resilience [3] Group 5: Film and Television Sector Outlook - Despite a weak Q2, the film and television sector is expected to see marginal recovery in Q3, with ticket sales showing slight improvement compared to the previous year [4] - The upcoming National Day holiday and a rich lineup of films are anticipated to boost viewing demand [4] - Some content companies are diversifying revenue streams by exploring derivative products based on their IP, reducing reliance on box office performance [4]

Summary of the Conference Call for Dama Entertainment Company Overview - Dama Entertainment reported total revenue of approximately 6.7 billion RMB for the fiscal year 2024, with contributions from various segments: Film (50%), Performances (30%), and IP Derivatives (20%) [1][4] - The company anticipates total revenue to reach around 8 billion RMB in fiscal year 2026, with performance business growth of 20% and IP derivative business growth nearing 60% [1][5] Key Insights and Arguments Revenue Growth and Projections - The IP derivative business is experiencing rapid growth, with a significant increase in IP contract amounts in Q2 2025, and an expected annual revenue of 2.2 to 2.3 billion RMB, reflecting a year-on-year growth of nearly 60% [1][6] - The concert business is projected to generate revenue of 2.4 to 2.5 billion RMB, a 20% increase year-on-year, while content business revenue is expected to exceed 700 million RMB, growing over 40% [1][8] - Ticketing revenue is forecasted to grow by 15%, reaching 1.7 to 1.8 billion RMB, with the first half of the year typically accounting for a higher proportion of total revenue [1][8] Business Strategies - Dama Entertainment employs a three-step strategy for its IP ToC business: 1. Launching online flagship stores, exemplified by Chicawa, which achieved over 100 million RMB in sales within months [1][7] 2. Establishing offline pop-up stores, with the Shanghai pop-up achieving daily sales of several hundred thousand RMB [1][7] 3. Self-production of IP products through collaborations with internal brands and designers [1][7] Market Dynamics and Challenges - The stock price of Dama Entertainment saw a notable decline on August 30, 2025, primarily due to a report from Citigroup highlighting concerns over the growth limitations of large concert businesses and the impact of additional investments on profits [2] - The company is cautious regarding R&D and product investments, which has contributed to market uncertainties [2] International Expansion - Dama Entertainment has initiated a new overseas strategy, forming an international team to enhance overseas performance and product upgrades, including the development of localized apps and dynamic pricing systems for secondary ticket sales [1][10] Profitability and Cost Management - The expected profit from Dama's performance segment for 2025 is projected to be between 850 million and 900 million RMB, influenced by personnel adjustments and hiring [1][11] - The company is in a rapid expansion phase, with a focus on revenue growth despite potential short-term profit fluctuations due to capacity and cost constraints [1][12] Additional Important Insights - The company maintains a strong competitive position in the concert market, with unique advantages such as exclusive rights to certain events [1][16] - The valuation of Dama Entertainment is supported by its performance in the Hong Kong internet entertainment sector, transitioning from film opportunities to concert business, enhancing the maturity of its IP business [1][15] - The market's perception of Dama's trading logic and future valuation reflects optimism regarding its IP derivative and performance business growth [1][15] This summary encapsulates the key points from the conference call, highlighting Dama Entertainment's financial performance, strategic initiatives, market challenges, and future outlook.