每经编辑｜段炼 11月22日，奥斯卡主办方学院公布最佳动画长片奖"符合参评资格"大名单，国产电影《罗小黑战记2》及《疯狂动物城2》《坏蛋联盟2》等共35部影片获 资格，但其中并没有刷新影史动画电影票房纪录的《哪吒之魔童闹海》。 图片来源：豆瓣电影 学院官网列出的最佳动画长片参选资格包括片长需超过40分钟；全片内容呈现的动画制作的比例至少达75%；影片必须在美国特定城市（洛杉矶、纽约 （五区）、旧金山湾区、芝加哥、达拉斯-沃斯堡、亚特兰大）的影院进行至少连续七天的商业放映，且每天在同一影院的排片至少三场。 这三条主要规定《哪吒2》都符合，那么剩下的唯一可能性就是片方华人文化和北美发行方A24没有报名参加第98届奥斯卡奖最佳动画长片的竞逐。对于 这一猜测，记者从华人文化方面得到了确证。据华人文化方面确认，他们没有为该片报名奥斯卡角逐。 有业内人士分析，《哪吒》虽在票房上大获成功，但可能在"动画技术占比"环节遭遇争议。例如，部分观众指出影片中部分场景疑似采用实拍+特效融合 技术，若学院认定其"非纯动画制作"，则可能被排除在外。此外，奥斯卡对"原创性"要求极高，《哪吒》作为系列续作，创新性是否超越前作也是评委考 量重 ...

当地时间11月21日，奥斯卡奖的主办方美国电影艺术与科学学院公布了符合资格参与最佳纪录长片、最 佳国际影片以及最佳动画长片三个奖项竞逐的影片大名单。在最佳动画长片领域，今年有35部影片有资 格"冲奥"，意外的是，《哪吒之魔童闹海》并不在其中。 智通财经记者从《哪吒之魔童闹海》出品方"华人文化"方面确认，他们没有为该片报名奥斯卡角逐。 今年有86部电影有资格参选最佳国际影片，包括《南京照相馆》和《破·地狱》。 来源：智通财经 责任编辑：张恒星 ...

Group 1 - The Academy of Motion Picture Arts and Sciences announced the list of films eligible for the Best Documentary Feature, Best International Feature, and Best Animated Feature categories for the Oscars [1] - A total of 35 films are eligible for the Best Animated Feature category, but "Ne Zha" is notably absent from this list [1][3] - The absence of "Ne Zha 2" has surprised Hollywood media, as it was considered a strong contender alongside other films like "Paddington Bear 3" and "The Smurfs: The Magic" [3] Group 2 - The eligibility criteria for Best Animated Feature include a minimum runtime of 40 minutes, at least 75% of the film being animated, and a commercial release in specific U.S. cities for at least seven consecutive days with a minimum of three screenings per day [3] - A total of 86 films are eligible for the Best International Feature category, including "Nanjing Photo Studio" and "Breaking Hell" [4]

Group 1 - The Hong Kong film stocks have generally risen, with Huayi Brothers leading with a gain of over 13%, followed by DMG Entertainment up 5.3%, and Straw Bear Entertainment up nearly 2% [1] - According to data from Maoyan Professional Edition, the box office for the year 2025 (including pre-sales) has exceeded 45 billion, with "Ne Zha," "Detective Chinatown 1900," and "Nanjing Photo Studio" ranking as the top three films [1] - Analysts indicate that both short-term and long-term factors are favorable for the Chinese film industry, with positive developments in policies, markets, and technology driving recovery and high-quality growth [1] Group 2 - The revival of global cultural exchanges has allowed Chinese film companies and works to become active again at international film festivals such as Cannes, Berlin, and Venice, creating more opportunities for co-productions, distribution, and international collaboration [1] - The stock performance of various companies is as follows: Huayi Brothers at 0.325 with an increase of 8.33%, DMG Entertainment at 0.990 with an increase of 5.32%, Straw Bear Entertainment at 0.540 with an increase of 1.89%, and others showing modest gains [1]

Core Insights - The Q3 financial reports of film and television companies reveal a stark contrast in performance, highlighting a significant divide within the industry [1][3][17] Company Performance Overview - Light Media reported a staggering 993.71% increase in Q3 net profit and a 406.78% increase in net profit for the first three quarters, driven by successful film releases and IP derivative businesses [2][4] - Wanda Film achieved a Q3 net profit of 1.73 billion, a 212.04% year-on-year increase, supported by strong box office performance and strategic marketing initiatives [2][9] - Perfect World also saw substantial growth, with a 176.59% increase in Q3 net profit, bolstered by new game releases and a significant rise in film revenue [2][10] - In contrast, Bona Film reported a net loss of 11.1 billion for the first three quarters, reflecting a severe decline in performance due to reliance on a single film project [2][11] - Mango Super Media experienced a decline in revenue and net profit but showed potential for growth through strategic investments and international expansion [2][14][16] Industry Trends and Strategies - The industry is witnessing increased differentiation, with successful companies focusing on content quality and diversified business models to mitigate cyclical fluctuations [3][4][10] - Light Media's growth strategy emphasizes collaboration between film and IP derivative businesses, showcasing the importance of a balanced business structure [4][5] - Wanda Film's success is attributed to its "Super Entertainment Space" strategy, enhancing customer engagement and optimizing revenue streams through diverse offerings [9][10] - Bona Film's struggles highlight the risks of over-reliance on specific projects and the need for strategic diversification to ensure long-term viability [11][12] - Mango Super Media's proactive approach in content investment and international expansion indicates a shift towards sustainable growth despite short-term challenges [14][16] Conclusion - The Q3 financial results serve as a critical assessment of survival strategies and execution capabilities within the film and television industry, emphasizing the divide between long-term thinkers and short-term opportunists [17]

Core Insights - The total box office revenue for the year 2025 has exceeded 45 billion yuan as of November 10, 2025, at 9:31 AM [1] - The top three films contributing to the annual box office are "Ne Zha," "Detective Chinatown 1900," and "Nanjing Photo Studio" [1] Box Office Performance - The box office revenue includes pre-sales and has reached a significant milestone of over 45 billion yuan [1] - "Ne Zha" is leading the box office rankings, followed by "Detective Chinatown 1900" and "Nanjing Photo Studio" [1]

Core Viewpoint - The film "Nanjing Photo Studio," which depicts the historical context of the Nanjing Massacre, was officially released in over 200 theaters across major cities in South Korea on November 5, 2023, resonating strongly with local audiences [1]. Group 1 - The film has received positive feedback from South Korean viewers, with one citizen expressing a willingness to recommend it to friends due to its emotional impact and historical parallels [4]. - The CEO of the film's South Korean distributor, Dasein Soft, praised the film's high production quality and realistic portrayal of the massacre, emphasizing its universal relevance to those who have experienced the pains of World War II [4].

Industry Overview - The total box office revenue for films in China reached 41.952 billion yuan in the first three quarters of 2025, representing a year-on-year increase of 21.12%, with total audience attendance at 985 million [1] - Domestic films accounted for 89.21% of the total box office, while imported films made up 10.79% [1] - The National Day holiday box office was 1.835 billion yuan, with 50.07 million attendees, and an average ticket price of 36.64 yuan, down 9.28% year-on-year [1] Company Performance - The combined revenue of four listed companies in the film industry reached 7.010 billion yuan in the first three quarters, a year-on-year increase of 41.43%, with a total net profit of 1.983 billion yuan, up 233.77% [2] - In Q3 alone, these companies generated 1.740 billion yuan in revenue, a 46.96% increase, and a net profit of 171 million yuan, up 327.98% [2] Company-Specific Insights - **Light Media**: Achieved the highest revenue of 3.616 billion yuan in the first three quarters, a 150.81% increase, and a net profit of 2.336 billion yuan, up 406.78% [3] - **China Film**: Reported a revenue of 2.928 billion yuan, a decrease of 2.90%, and a net profit of 66 million yuan, down 69.22% [3] - **Beijing Culture**: Experienced significant growth in revenue to 250 million yuan, up 151.44%, but faced a net loss of 305 million yuan, widening by 865.04% [4] - **Huayi Brothers**: Reported a revenue of 215 million yuan, down 46.08%, and a net loss of 114 million yuan, increasing by 368.15% [5] Film Contributions - China Film produced or participated in 30 films, generating a total box office of 12.251 billion yuan, accounting for 32.79% of the domestic film box office [4] - The film "Nanjing Photo Studio" became the summer box office champion with over 3 billion yuan, while "Volunteer Army: Blood and Peace" topped the National Day box office [4] Profitability Metrics - Light Media led with a gross margin of 73.24%, significantly higher than Huayi Brothers at 29.67% and China Film at 15.98% [5] - Beijing Culture reported a gross margin of -80.61%, indicating a substantial decline [5]

Industry Overview - The total box office revenue for the first three quarters of 2025 reached 41.952 billion yuan, representing a year-on-year increase of 21.12%, with total audience attendance at 985 million [1] - Domestic films generated 37.359 billion yuan, accounting for 89.21% of the total box office, while imported films contributed 4.52 billion yuan, making up 10.79% [1] National Day Box Office - The National Day box office amounted to 1.835 billion yuan, with 50.07 million attendees and 3.1466 million screenings, reflecting a year-on-year increase of 12.82% [1] - The average ticket price was 36.64 yuan, down 3.75 yuan from the previous year, a decrease of 9.28% [1] - Domestic films dominated the National Day box office with a share of 98.93% [1] Company Performance - The combined revenue of four listed companies in the film industry reached 7.010 billion yuan, a year-on-year increase of 41.43%, with a total net profit of 1.983 billion yuan, up 233.77% [2] - In Q3, the total revenue was 1.740 billion yuan, growing by 46.96%, and net profit reached 171 million yuan, increasing by 327.98% [2] Individual Company Analysis - **Light Media**: Achieved the highest revenue of 3.616 billion yuan, a significant year-on-year increase of 150.81%, and a net profit of 2.336 billion yuan, up 406.78% [3] - **China Film**: Reported a revenue of 2.928 billion yuan, a decline of 2.90%, and a net profit of 66 million yuan, down 69.22% [3] - **Beijing Culture**: Experienced a revenue increase of 151.44% to 250 million yuan, but faced a net loss of 305 million yuan, widening by 865.04% [4] - **Huayi Brothers**: Reported a revenue of 215 million yuan, a decrease of 46.08%, and a net loss of 114 million yuan, which expanded by 368.15% [5] Film Contributions - China Film produced or participated in 30 films, generating a total box office of 12.251 billion yuan, accounting for 32.79% of the domestic film box office [4] - Notable films include "Nanjing Photo Studio," which grossed over 3 billion yuan and is set to compete for the Best International Feature Film at the 98th Academy Awards [4] - Light Media's film investments include several successful titles, contributing to its strong financial performance [3]

Industry Overview - The total box office revenue for the first three quarters of 2025 reached 41.952 billion yuan, representing a year-on-year increase of 21.12%, with total audience attendance at 985 million [1] - Domestic films accounted for 37.359 billion yuan, or 89.21% of the total box office, while imported films contributed 4.52 billion yuan, or 10.79% [1] - The National Day holiday box office was 1.835 billion yuan, with 50.07 million attendees, and an average ticket price of 36.64 yuan, down 9.28% year-on-year [1] Company Performance - The combined revenue of four listed companies in the film industry reached 7.010 billion yuan, a year-on-year increase of 41.43%, with a total net profit of 1.983 billion yuan, up 233.77% [2] - In Q3, the companies generated a revenue of 1.740 billion yuan, up 46.96%, and a net profit of 171 million yuan, up 327.98% [2] Company-Specific Insights - **Light Media**: Achieved the highest revenue of 3.616 billion yuan, a 150.81% increase, and a net profit of 2.336 billion yuan, up 406.78%. In Q3, revenue was 374 million yuan, up 247.54%, and net profit was 106 million yuan, up 993.71% [3] - **China Film**: Experienced a decline in both revenue and net profit, with Q3 revenue at 1.912 billion yuan, a 35.61% increase, but a net profit of 66 million yuan, down 69.22% year-on-year [3][4] - **Beijing Culture**: Reported revenue of 250 million yuan, a significant increase of 151.44%, but a net loss of 305 million yuan, which is 865.04% worse than the previous year [4] - **Huayi Brothers**: Faced the most significant decline, with revenue of 215 million yuan, down 46.08%, and a net loss of 114 million yuan, an increase of 368.15% [5] Market Trends - The top five films during the National Day period included "The Volunteer Army: Blood and Peace" and "731," with the former generating 450 million yuan [1] - Light Media's films contributed significantly to its revenue, with total box office receipts reaching approximately 15.903 billion yuan [3] - Beijing Culture's involvement in major films was limited, affecting its financial performance despite high revenue growth [4]