文 | 镜象娱乐 顾贞观 继《平原上的火焰》后，"东北文艺三剑客"之一双雪涛的小说改编再次失利，同期上映的《飞行家》和《我的朋友安德烈》两部影片目前票房都不乐观， 前者猫眼专业版预测内地总票房为7498.7万，后者为1340.3万。 客观而言，双雪涛并不背锅，《平原上的火焰》《飞行家》《我的朋友安德烈》都大刀阔斧对原著进行了改编，改编结果也都不尽人意。三部影片类型包 装各不相同，但最终都走向了节奏掌控失衡、角色塑造苍白、东北地域叙事沦为背景板、情感无法落地的境地，从中难以看到真实的时代与人性肌理。 对于东北影视，如今观众开始要求强叙事、深人性、新视角，但在《飞行家》《我的朋友安德烈》里，外界看到的依然是单薄的"景观消费"，而非基于精 神共振的"价值消费"。近几年，《漫长的季节》《人世间》等东北剧集的成功，让东北影视从小众走向大众，也将"东北"从一个创作题材，推向了一个需 要极高完成度的创作类型，这是不分电影和剧集的。 在严肃文学改编上，《飞行家》和《我的朋友安德烈》都进行了类型化包装，《飞行家》在东北伤痕文学中嵌套了个人英雄主义叙事模板，好莱坞已经使 用这套模板驯化市场多年，它或许缺乏新意，但停留在了大部分观 ...

Group 1 - The core viewpoint of the report indicates that the mainland movie box office experienced a year-on-year growth of approximately 23% in the first half of the year, primarily driven by the success of "Nezha 2," which accounted for half of the total box office [1] - Recent months have shown a continuous decline in box office performance, with July experiencing a double-digit percentage drop [1] - The films released and produced by Maoyan Entertainment had a lackluster performance in the first half of the year, with "Flames on the Plain" and "Traveling Through the Moon" recording box office revenues of approximately 19 million and 189 million respectively [1] Group 2 - Based on the latest trends, the company has revised its full-year box office forecast down from 50 billion to 46 billion [1] - The full-year revenue and non-International Financial Reporting Standards profit forecasts have been adjusted downwards by 8% and 15% respectively [1] - The company maintains a "Buy" rating, with the target price revised down from 9.2 HKD to 8.6 HKD [1]

Group 1 - Cat's Eye Entertainment (01896) experienced a decline of over 6%, currently trading at 7.51 HKD with a transaction volume of 110 million HKD [1] - As of August 4, the total box office for the summer season in 2025 reached 7.054 billion CNY, with a relatively quiet first half of the summer season from June 1 to July 17, accumulating less than 3.5 billion CNY [1] - The release of films such as "The Lychee of Chang'an," "The Legend of Hei 2," and "Nanjing Photo Studio" has boosted the summer box office, doubling the cumulative box office in just two weeks [1] Group 2 - CICC's report anticipates that Cat's Eye Entertainment will release its first half performance in mid to late August, projecting revenue of 2.502 billion CNY, a year-on-year increase of 15.3% [2] - The expected net profit attributable to shareholders is 165 million CNY, a year-on-year decrease of 42.4%, while the Non-IFRS net profit is projected at 219 million CNY, down 37.8%, falling below market expectations [2] - The underperformance of films in which the company invested, along with lower-than-expected gross margins, contributed to the profit decline, with notable films like "Detective Chinatown 3," "Dumpling Queen," and "The Time of Sons" performing below expectations [2]

Group 1 - Cat's Eye Entertainment's stock dropped over 6%, currently at 7.51 HKD with a trading volume of 110 million HKD [1] - As of August 4, the total box office for the summer season reached 7.054 billion CNY, with a significant increase in ticket sales following the release of several films [1] - The first half of the summer season was relatively weak, with a cumulative box office of less than 3.5 billion CNY from June 1 to July 17, but saw a doubling of ticket sales in the following two weeks [1] Group 2 - CICC forecasts that Cat's Eye Entertainment will release its first half performance report in mid to late August, expecting revenue of 2.502 billion CNY, a year-on-year increase of 15.3% [2] - The expected net profit attributable to shareholders is 165 million CNY, a year-on-year decrease of 42.4%, with Non-IFRS net profit at 219 million CNY, down 37.8%, below market expectations [2] - The underperformance in box office revenue from films the company invested in, along with lower-than-expected gross margins, contributed to the profit decline [2]