12月15日，据猫眼专业版数据，电影《阿凡达3》映前4天， 点映及预售总票房破3000万。 当天，A股影视院线板块普遍股价下跌，博纳影业盘中跌停，收盘报12.02元/股，跌9.96%；幸福蓝海跌4.19%，中国电影、上海电影、金逸影视、华 谊兄弟均跌超2%。 在此之前，博纳影业因间接参投《阿凡达3》而备受市场关注，上周五个交易日内一度收获四个涨停。不过，博纳影业多次通过公告对外表示，《阿 凡达3》对短期业绩无重大影响。 股价高昂背后，博纳影业却面临着残酷的困境：上市三年多以来，公司持续面临亏损，2022年至2024年及今年前三季度，公司累计亏损已超26亿元。 12月股价大涨近70% 根据协议约定，TSG授予博纳影业包含《阿凡达3》《死侍与金刚狼》《猩球崛起:新世界》《异形:夺命舰》 等影片的投资收益权。不过，博纳影业 并未透露具体的分账比例。 进入贺岁档，A股影视板块频频异动，前有《疯狂动物城2》拿下中国影史进口动画电影单日票房冠军，作为国内主要发行方的中国电影股价强势涨 停；后有《阿凡达3》上映在即，可参与全球票房分账的博纳影业股价一路上涨，一度收获"五天四板"。 12月14日，博纳影业发布股票交易异常波动 ...

Core Viewpoint - Trump's proposal to impose a 100% tariff on all non-American produced films appears to be a protective measure for Hollywood, but it may inadvertently trigger a global chain reaction in the film and streaming industries [1] Group 1: Impact on Hollywood and Global Film Industry - The logic behind the tariff policy is paradoxical, as American blockbusters are already globalized, with films like "Deadpool" and "Gladiator 2" being shot overseas, making American production companies the primary bearers of the cost [1] - If the U.S. imposes tariffs on imported content, China may unexpectedly benefit due to the streaming substitution effect, allowing local and Asia-Pacific films to gain more exposure [2] Group 2: Opportunities for Chinese Companies - Companies such as iQIYI (IQ.US), Mango Excellent Media (300413.SZ), and Bilibili (BILI.US/HK) may experience a dual boost in overseas distribution and domestic market performance [2] - Firms with international collaboration backgrounds, like Huace Film & TV (300133.SZ), Light Media (300251.SZ), Alibaba Pictures (01060.HK), and Bona Film Group (001330.SZ), could seize more opportunities for cross-border filming and joint productions [2] Group 3: Potential Impact on Streaming Platforms - Increased costs for streaming platforms like Netflix and Disney+ may lead to a reduction in their content acquisition budgets, which could also affect Chinese film export companies such as Huace and Ciwen Media (002343.SZ) [2] - The tariff strategy by Trump is seen more as a political stance, yet it inadvertently provides a window of opportunity for the Chinese content industry [2]