国庆假期带小朋友看了易中天编剧、监制的《三国的星空》，应该是这个系列的第一部，主要讲曹操与 袁绍，以官渡之战收尾。影片结尾的彩蛋显示，下一部应该是讲"赤壁"。 电视时代，易中天的"品三国"听众和读者不少，提出了一些在史学界可能不算新颖，但在不太了解三国 史的人而言比较新奇的观点。《三国的星空》也有一些体现。 国漫近些年越做越好，志怪传说做些改动，往往无伤大雅。但历史国漫，需要谨慎。历史国漫，拍成电 影的不多，成功的更少。《长安三万里》口碑很好，画面好、声乐好，最重要的是，剧本好。 历史国漫，要么尊重历史，要么干脆不要历史，就去架空。日本有搞架空历史剧的传统，以三国为题材 的电视剧、动漫多如牛毛，甚至魔改到全员女性（《一骑当千》）。中国大陆观众可能把日漫当消遣， 但如果本土拍出来的历史动漫经不起推敲，就一定会不买账。 《三国的星空》就遇到了这样的问题。 该剧令观众最意外之处，在于汉献帝刘协与曹操的关系看起来过于密切。而这种过于密切则源于该 剧"演义"了衣带诏事件，即汉献帝向曹操承认曾向董承下衣带诏，但献帝自述下诏诛曹的前提是曹操有 谋逆企图，只是董承故意把这个前提"裁剪掉"，变成了不加条件的"奉衣带诏讨贼"，因 ...

只讲干货和硬逻辑 以下文章来源于犀牛娱乐 ，作者犀牛娱乐编辑部 犀牛娱乐 . 来源｜ 犀牛娱乐 作者｜ 南如珉 编辑｜朴芳 电影《731》中有一个醒目的字幕"这里，无人生还"。它恰好适用于今年的国庆档。 今年国庆档过于低迷，已经是远远超乎了想象，较往年的下滑将会非常惊人。其实从最初的预期来看，尽管国庆档打造了一个华丽的"片海战术"，但很明 显是华而不实的，完全是缺乏实战能力，对观众无法构成有效的吸引力，这无疑是国庆档全盘失利的重要原因。 国庆档为何全面失利 在类型、阵容、口碑都不算太差的情况下，国庆档的全面崩盘也就格外引人关注。不论是大盘，还是单片，国庆档几乎拿不出任何的亮点，甚至很快就被 上映两周的《731》占得先机。那么今年国庆档为何迎来了如此全面的失利？ ● 《志愿军3》 从系列的角度来看，最新的《志愿军3》达到了系列的平均水准，并未出现口碑突然崩塌所导致的票房下滑，甚至在泪点和情绪渲染上，这部《志愿军3》 达到了新的高度，但影片的问题也是非常突出，即审美疲劳。从《长津湖》两部曲，再到《志愿军3》三部曲，五部电影下来，观众实在有些顶不住了。 另一方面，前作《志愿军2》曾一度达到12亿+的体量，其中朱一龙 ...

假期不卷，随便写点。 这两天去看电影，不想太沉重，去看了部动画片《三国的星空》。 看完之后我大受震撼。 什么《三国的星空》，这动画分明应该叫《三国魅魔曹孟德》或者《孟德再爱我一次》。 作为一个三国故事，这个片子的角色塑造做到了真正的公平。 刘备、关羽、张飞、吕布、貂蝉、董卓、孙策、周瑜、诸葛亮，这些三国故事里的经典角色，根本不存在拉踩。 因为一个都没出场，别说建模了，连句台词都没有。 故事的核心就是曹操和袁绍、刘协（没错，就是他你敢信？）之间的感情拉扯，关系复杂到你可以把它当言情剧来看。 而曹操，直接成为了三国魅魔。 和这部电影的曹操比，别说刘备了，三体人来了都显得不够坦诚。 曹操，就是这个宇宙的完美圣人，超级白月光。 坏事都是别人干的，他都是好人，故事里的人不是爱他就是嫉妒他。 一 所有美德都是他的，已经多到要美拉德了。 二 故事的开头可以概括为——《和青梅竹马分手后我决定去放纵一波》。 一上来是曹操和袁绍这一对青梅竹马一起去偷东西。 袁绍因为舍不得赃物要被抓到，关键时刻曹操大喊了一声"贼在这里"，吓得袁绍扔掉赃物，逃出生天。 结果袁绍为这一嗓子纠结了二十年。 二十年后十八路诸侯都讨董了，他还在琢磨当年那一 ...

这是半佛仙人的第1889篇原创 1 假期不卷，随便写点。 这两天去看电影，不想太沉重，去看了部动画片《三国的星空》。 看完之后我大受震撼。 什么《三国的星空》，这动画分明应该叫《三国魅魔曹孟德》或者《孟德再爱我一次》。 作为一个三国故事，这个片子的角色塑造做到了真正的公平。 刘备、关羽、张飞、吕布、貂蝉、董卓、孙策、周瑜、诸葛亮，这些三国故事里的经典角色，根本不存在拉踩。 因为一个都没出场，别说建模了，连句台词都没有。 故事的核心就是曹操和袁绍、刘协（没错，就是他你敢信？）之间的感情拉扯，关系复杂到你可以把它当言情剧来看。 而曹操，直接成为了三国魅魔。 和这部电影的曹操比，别说刘备了，三体人来了都显得不够坦诚。 曹操，就是这个宇宙的完美圣人，超级白月光。 坏事都是别人干的，他都是好人，故事里的人不是爱他就是嫉妒他。 所有美德都是他的，已经多到要美拉德了。 "如果曹操有不臣之心，就奉诏诛杀曹操。" 而董承很了解《不要断章取义》的精髓就是《要断章取义》，截掉了诏书的一半，变成了"奉诏诛杀曹操"，然后拿着这份 诏书去找到了袁绍。 袁绍拿了诏书一看，立刻意识到这是个让白月光回心转意的好机会，于是和曹操摆了一顿火锅，向 ...

Core Insights - The National Day box office performance has significantly declined, with a first-day revenue of 330 million, representing a 33% drop compared to last year, and only reaching the level of 2016 when excluding the exceptional year of 2022 [2][3] Group 1: Box Office Performance - The first day of the National Day box office achieved 330 million, indicating a poor performance and a notable decline from previous years [2] - The lack of blockbuster films this year has contributed to a "sea of films" strategy, leading to a fragmented market where no standout films are present [2][3] - The absence of strong headliners in the National Day lineup has resulted in a diminished status compared to other holiday periods like the Spring Festival [2] Group 2: Film Analysis - "The Volunteer Army 3" opened with 96 million, a 37% decrease compared to its predecessor, indicating audience fatigue with the series [4][7] - "Assassination Novelist 2" grossed 64 million on its opening day, struggling to surpass the original's box office due to polarized audience reception [9] - "731" performed well with 60 million on its first day, suggesting either its strength or the overall weakness of other films in the lineup [11] - "Wandering Life" earned 36 million, lacking a clear genre or standout quality, resulting in a mediocre performance [16] - "Wind Forest Fire Mountain" and "Three Kingdoms' Starry Sky" had poor openings, with 2.08 million and 2.05 million respectively, indicating limited market appeal [19][22] - "Bi Zhengming's Proof" garnered 850,000, showing potential for growth if other films underperform [25]

Summary of Guomai Culture Conference Call Company Overview - Guomai Culture focuses on integrating high-quality IP with companies that lack operational expertise, employing a reverse topic selection strategy to enhance influence, exemplified by the success of the Chinese version of "Diary of a Wimpy Kid" selling over 1 million copies and the book "Beyond the Notes" related to Lin Junjie [2][5] Core Business Insights - The company operates as an internet-plus publishing entity, concentrating on best-selling books and new sales channels like short video e-commerce, maintaining steady growth in book publishing despite offline market challenges [2][6] - Operating performance, particularly gross margin, remains relatively stable, although net profit attributable to shareholders fluctuates due to offline impacts and investment losses [2][6] AI Technology Development - Guomai Culture is advancing AI proofreading technology, utilizing a fee-based model for publishers and localized deployment for projects like military websites, enhancing production efficiency and labor liberation [2][7][8] - The company has initiated commercial monetization in AI proofreading, showcasing its capabilities through partnerships with publishers and military projects [3][7] Animation Film IP Monetization - Animation film IP monetization is a key strategic direction, with upcoming releases like "Wang Wang Mountain" and "Three Kingdoms Starry Sky" expected to significantly boost profits [2][9] - The collaboration with Light Media for "Three Kingdoms Starry Sky," which has a 30% stake and is responsible for promotion, is anticipated to yield strong box office results, potentially exceeding 2 billion [2][11][14] Market Performance and Expectations - The 2025 summer film market has shown strong performance, with films like "Wang Wang Mountain" exceeding expectations, creating a favorable environment for the upcoming National Day release of "Three Kingdoms Starry Sky" [4][13] - The film's success is projected to contribute significantly to the company's profits, with expectations of a box office performance above 2 billion, supported by a strong promotional strategy and audience continuity [4][14] Additional Insights - The reverse topic selection model enhances the accuracy and stability of the company's selections, ensuring steady revenue and profit growth [4][5] - The company is also exploring AI applications in areas like AI comics and topic selection, indicating a commitment to expanding its AI capabilities [8]

Core Viewpoint - The market is experiencing significant capital outflows from popular sectors, yet three companies are seeing capital inflows, indicating potential investment opportunities amidst the broader market decline [1][2][5]. Group 1: Company Performance - Light Media has seen a remarkable performance with a net profit of 214 million yuan in Q2, driven by the success of the blockbuster film "Nezha: Birth of the Demon Child" [3]. - China Merchants Bank has reported an 11.9% increase in wealth management revenue, positioning itself favorably despite the overall negative sentiment towards bank stocks [3]. - China Telecom is benefiting from AI integration, having adopted the DeepSeek open-source model, which transforms its role from a traditional telecom operator to a high-tech company [3][4]. Group 2: Investment Appeal - The three companies share common characteristics that attract investment: strong performance, low valuations, and compelling narratives [4]. - Light Media has a robust pipeline of upcoming films, including "The Stars of the Three Kingdoms" and sequels to "Big Fish & Begonia," enhancing its growth prospects [3]. - China Merchants Bank is currently valued at a price-to-earnings ratio of 7 and a price-to-book ratio of 1, making it an attractive investment opportunity [3][4]. Group 3: Market Dynamics - The current market environment is filtering out companies with genuine performance and reasonable valuations, as investors seek real growth potential rather than speculative plays [5]. - The capital inflow into these three companies amidst a broader market downturn suggests a shift in investor focus towards fundamentally strong companies [6].

Market Overview - A-shares experienced a rebound after a dip, with the ChiNext Index and STAR 50 Index showing strong performance, while Hong Kong stocks also strengthened, with the Hang Seng Index and Hang Seng Tech Index both rising over 1% [2] - The three major A-share indices initially fell but then recovered, with the Shanghai Composite Index closing up 0.13% at 3812.22 points, the Shenzhen Component Index up 0.38% at 12557.68 points, and the ChiNext Index up 1.27% at 2904.27 points [2] - Total trading volume in the Shanghai and Shenzhen markets reached 200.42 billion yuan, a decrease of 148.2 billion yuan from the previous day [2] Sector Performance - Resource sectors such as non-ferrous metals, coal, chemicals, and electricity collectively declined, while the oil sector saw strong gains, with Keli Co., Ltd. rising over 10% and Zhun Oil Co. hitting the daily limit [2] - The film and television sector was notably active, with Heping Blue Sea reaching a near-limit increase, and Jin Yi Film and Yue Media both hitting the daily limit [2][5] - AI-related stocks, including CPO and computing power sectors, saw a resurgence, with companies like Jiayuan Technology and Dongshan Precision hitting the daily limit [2][9] Film and Television Sector Insights - The film and television sector showed significant strength, with Heping Blue Sea rising nearly 14% and reaching a nine-year high, while Jin Yi Film and Yue Media both hit the daily limit [5] - The National Film Administration reported that the box office for the summer season from June 1 to August 31 reached 11.966 billion yuan, with a year-on-year increase of 2.76%, and total audience attendance of 321 million, up 12.75% year-on-year [6] - Upcoming films for the National Day holiday include major titles like "Assassination Novelist 2" and "Panda Project 2," which are expected to support box office performance [7] AI Industry Developments - AI-related stocks were active, with Jiayuan Technology hitting a 20% limit increase, and Shenghong Technology nearing a price of 300 yuan, marking a new high [9] - Oracle projected that cloud infrastructure sales would surge by 77% to reach $18 billion in fiscal year 2026, driven by increasing demand for AI [10] - Broadcom reported strong third-quarter earnings, with revenue of $15.95 billion, a 22% year-on-year increase, and provided a robust outlook for the fourth quarter, expecting revenue of approximately $17.4 billion, a 23.8% increase year-on-year [11] Company-Specific News - Pop Mart experienced a significant decline, dropping over 7% at one point and closing down 4.5% at 275.2 HKD per share, with a market capitalization of 369.6 billion HKD [13] - The company is facing a new wave of price drops in the secondary market, attributed to increased production capacity leading to an oversupply [14] - Morgan Stanley noted that secondary market prices may not accurately reflect true supply and demand, suggesting that Pop Mart's long-term growth prospects remain strong despite current challenges [14]

Investment Rating - The report maintains a "Recommended" rating for the company with a target price of 22.7 CNY, compared to the current price of 19.87 CNY [5][11]. Core Insights - The company's Q2 performance met expectations, with a robust pipeline for future projects, particularly focusing on the progress of IP operations [2][11]. - In H1 2025, the company achieved revenue of 3.242 billion CNY (YOY +143%) and a net profit attributable to shareholders of 2.229 billion CNY (YOY +372%) [2][11]. - The film business generated 3.1 billion CNY in H1 2025 (YOY +219%), driven by the success of the blockbuster "Nezha: The Devil's Child" [11]. - The company is actively transforming into an "IP creator and operator," expanding its content production capabilities and exploring various derivative product avenues [11]. Financial Summary - The company is projected to have total revenue of 4.256 billion CNY in 2025, with a year-on-year growth rate of 168.4% [4]. - The net profit attributable to shareholders is expected to reach 2.378 billion CNY in 2025, reflecting a significant increase of 714.4% [4]. - The earnings per share (EPS) is forecasted to be 0.81 CNY in 2025, with a price-to-earnings (P/E) ratio of 24 [4][11]. - The company has a total market capitalization of approximately 55.797 billion CNY [6].

Group 1 - The overall performance of movie companies in Q2 2025 was relatively weak, with most companies experiencing revenue declines due to a sluggish box office, and profits declining more significantly due to rigid cost structures [1][2] - The box office for the summer season of 2025 is projected to be slightly lower than previous expectations (130-160 billion), primarily due to the late release schedule of major domestic commercial films [1][3] - There has been a noticeable improvement in viewing demand since mid to late July with the release of new films, and some films may exhibit long-tail effects in box office and IP derivative business [1][3] Group 2 - The national box office for Q2 2025, including service fees, was approximately 4.85 billion, a nearly 35% decline, impacting the revenue of all movie companies [2] - The summer box office for 2025 reached about 12 billion, representing a year-on-year growth of 2.9%, with the number of viewers increasing by 12.8% to 322 million [3] - Key films for the upcoming National Day holiday have been scheduled, including "Assassination Novelist 2" and "Panda Project 2," with several anticipated imported sequels expected to support the overall box office in Q4 2025 [4] Group 3 - Companies recommended for investment include Shanghai Film (601595.SH) and Light Media (300251.SZ), with additional attention suggested for Wanda Film (002739.SZ) and Maoyan Entertainment (01896) [5]