Core Viewpoint - After the success of "Ne Zha: Birth of the Demon Child," Light Media has seen significant profits, but not all investments have yielded positive returns [1][6]. Financial Assistance and Investment Performance - Light Media's subsidiary, Light Animation, provided financial assistance of 8 million yuan to its associate company, Magic Animation, for the production of the animated film "Xiao Qian," which has not been repaid due to insufficient funds [1][3]. - The film "Xiao Qian" was released on December 6, 2024, and generated a box office of approximately 12.84 million yuan, leading to the inability of Magic Animation to repay the principal and interest of the financial assistance by the due date of May 18, 2025 [3][4]. - As of December 31, 2024, Magic Animation reported total assets of 54.16 million yuan, total liabilities of 54.35 million yuan, and a net loss of 743,700 yuan [3][4]. Shareholder Actions - Light Media's controlling shareholder, Light Holdings, and its concerted actors plan to reduce their holdings by up to 29.24 million shares, potentially cashing out approximately 540 million yuan [2][10]. - The stock price of Light Media has experienced significant volatility, dropping approximately 56% over three months, from a peak of 41.68 yuan per share to 18.39 yuan per share [9][10]. Financial Performance - In Q1 2025, Light Media reported a revenue of 2.975 billion yuan, a year-on-year increase of 177.87%, and a net profit of 2.016 billion yuan, a year-on-year increase of 374.79% [6]. - The domestic box office for "Ne Zha: Birth of the Demon Child" has surpassed 15.4 billion yuan, ranking fifth in global box office history [6]. Future Prospects - Magic Animation is developing two animated film projects and a fantasy animated series, while also seeking various outsourcing collaborations to expand its business [4]. - Light Media will continue to monitor Magic Animation's operations and may take measures to protect its interests regarding the financial assistance provided [4].

智通财经5月19日电，光线传媒(300251.SZ)公告称，公司子公司光线动画向魔法动画提供的财务资助资 金原用于投资制作动画电影《小倩》之需要，光线动画为该电影的主投、发行方。该电影已于2024年12 月6日上映，票房约为人民币1,284.40万元。截至2025年5月18日，本次财务资助已到期。魔法动画的现 有资金暂不足以偿还本次财务资助的本金人民币800万元及相应利息，公司本次财务资助款项无法按时 收回。魔法动画法定代表人毛启超将继续对此次财务资助涉及的债务承担连带保证责任。 光线传媒：财务资助800万元无法按时收回 ...