华谊兄弟（300027.SZ）12月23日在投资者互动平台表示，公司持续开发和储备优秀的影视项目，电影 方面：公司参投的由周星驰导演的《美人鱼2》已进入了后期制作阶段，由冯小刚执导，雷佳音、胡歌 主演的《抓特务》已杀青。此外公司主控的《特殊的礼物》《网中人》《平行任务》《少年火箭》《意 外的告别》《超级马丽》《一诺千金》《山贼不贼》《分手搭子》《求婚》，和公司参投的《小兵张 嘎》《街头》《恋爱的温度》等多个电影项目也正在制作中或加紧筹备开机。影片的上映计划请关注后 续相关影讯。 每经AI快讯，有投资者在投资者互动平台提问：请问2026年最有可能上映的，华谊兄弟出品的电影有 哪几部？ （文章来源：每日经济新闻） ...

Core Viewpoint - The article discusses the recent shareholding changes in Huayi Brothers, highlighting the reduction of shares held by Alibaba's investment arm and Jack Ma, which may impact the company's control structure and financial stability [2][5]. Shareholding Changes - On December 17, Alibaba's investment arm, Hangzhou Alibaba Entrepreneurship Investment Co., Ltd. (阿里创投), reduced its stake in Huayi Brothers from 3.467799% to 2.403580%, while the combined stake of Alibaba and Jack Ma fell from 6.064215% to 4.999996% [2][3]. - The reduction was based on Alibaba's commercial arrangements, and there is a possibility of further reductions in the next 12 months [3]. Company Stability and Control - Huayi Brothers stated that this reduction in shareholding would stabilize the company's equity structure and would not adversely affect its normal operations [5]. - Following this change, Alibaba and Jack Ma are no longer considered major shareholders (holding over 5%) in Huayi Brothers, which may lead to concerns about control stability [5]. Financial Performance - Huayi Brothers has faced significant financial challenges, reporting a cumulative loss of over 8 billion yuan (approximately 1.1 billion USD) over the past seven years, with a revenue drop of 46% year-on-year to 215 million yuan (approximately 29 million USD) in the latest quarter [12][13]. - The company is currently experiencing a debt crisis, with overdue debts totaling 52.5 million yuan (approximately 7 million USD) and all shares held by the controlling shareholder being frozen [13]. Historical Context - Huayi Brothers, founded in 1994 and known as a major player in the Chinese entertainment industry, has seen its market value decline significantly, with its stock price dropping to 2.17 yuan, valuing the company at 6.021 billion yuan (approximately 800 million USD), less than one-tenth of its peak value [12][18]. - The company has a history of close ties with Alibaba, which has previously provided loans and acquired assets from Huayi Brothers [6][7].

Group 1: Shareholding Changes - Alibaba's investment arm reduced its stake in Huayi Brothers from 3.467799% to 2.403580%, while the combined stake of Alibaba and Jack Ma decreased from 6.064215% to 4.999996% [1] - The reduction involved a total of 29,526,820 shares, representing 1.064219% of the company's total equity, with a market value of approximately 64 million CNY based on the closing price of 2.17 CNY per share [1] Group 2: Financial Difficulties - Huayi Brothers is facing temporary liquidity issues due to delayed payments, resulting in overdue debts totaling 52.5 million CNY, which exceeds 10% of the company's audited net assets for 2024 [3] - The company has had some of its bank accounts frozen and is actively negotiating with financial institutions to restructure its debts [4] Group 3: Shareholder Restrictions - The shares held by the founders, Wang Zhongjun and Wang Zhonglei, have been fully frozen, amounting to 13.81% of the company's total equity [5] - The company and its legal representative, Wang Zhongjun, are under a consumption restriction due to a contract dispute [7] Group 4: Performance Decline - Huayi Brothers has reported a significant decline in revenue, with total revenue of 215 million CNY for the first three quarters of 2025, a 46% decrease year-on-year, and a net loss of 114 million CNY, an increase of 168% compared to the previous year [11] - Cumulative losses over the past seven years have exceeded 8.2 billion CNY, with the company's stock price dropping to 2.12 CNY, valuing the company at less than 6 billion CNY, significantly lower than its peak market value of over 90 billion CNY [11][12]

每经编辑｜段炼 12月17日晚，华谊兄弟（300027）发布公告称，公司收到股东杭州阿里创业投资有限公司（以下简称"阿里创投"）和马云出具的相关文件，获悉阿里创投 于12月17日通过大宗交易方式减持公司股份，导致阿里创投及其一致行动人马云的权益变动触及1%及5%的整数倍，阿里创投的持股比例由3.467799%下 降至2.403580%，阿里创投及其一致行动人马云的持股比例由6.064215%下降至4.999996%。 | 股东名称 | 股份性质 | 本次权益变动前所持股份 | | 本次权益变动后所持股份 | | | --- | --- | --- | --- | --- | --- | | | | 持股数(股) | 占上市公司 总股本比例 | 持股数(股) | 占上市公司总 股本比例(%) | | | | | (%) | | | | 阿里创投 | 无限售流 通股 | 96,214,286 | 3.467799 | 66,687,466 | 2.403580 | | 马云 | | 72,037,730 | 2.596417 | 72,037,730 | 2.596417 | | 合计 | | 168,252,0 ...

昔日影视龙头，如今正面临困境。 天眼查显示，近日，华谊兄弟传媒股份有限公司（华谊兄弟，300027.SZ）及其法定代表人王忠军（王中军）新增一则限制消费令，涉及广告合同纠纷案 件，申请人为北京泰睿飞克科技有限公司，执行法院为北京市朝阳区人民法院。 | 限制消费令 2 | VIP | | | | | | | | 2天眼查 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 限制消费令1 | 历史限制消费令1 | | | | | | | | 집 음出 | | 序号 | 案号 | 限消令对象 | 限制法定代表人 | 申请人 | 涉案金额(元) 2 ÷ | 执行法院 | 立案日期÷ | 发布日期÷ | 原文 内容 | | 633号 | (2025)京0105执37 | 华谊兄弟传媒股 份有限公司 | 王忠军 | 北京泰睿飞克科技有 限公司 | | 北京市朝阳区人民 法院 | 2025-09-25 | 2025-12-10 | 详情 ス | 公司5250万元债务逾期 实控人股份全部被冻结 12月10日晚间，华谊兄弟（300027.SZ）公告 ...

每经编辑｜段炼 昔日影视龙头，如今正面临困境。 天眼查显示，近日，华谊兄弟传媒股份有限公司（华谊兄弟，300027.SZ）及其法定代表人王忠军（王中军）新增一则限制消费令，涉及广告合同纠纷案 件，申请人为北京泰睿飞克科技有限公司，执行法院为北京市朝阳区人民法院。 | 限制消费令 2 | VIP | | | | | | | | 2天眼查 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 限制消费令1 | 历史限制消费令1 | | | | | | | | 태 음반 | | 序号 | 案号 | 限消令对象 | 限制法定代表人 | 申请人 | 涉案金额(元) 2 ÷ | 执行法院 | 立案日期÷ | 发布日期÷ | 原文 内容 | | 633号 | (2025)京0105执37 | 华谊兄弟传媒股 份有限公司 | 王忠军 | 北京泰睿飞克科技有 限公司 | | 北京市朝阳区人民 法院 | 2025-09-25 | 2025-12-10 | 详情 4 | 公司5250万元债务逾期 实控人股份全部被冻结 12月10日晚间，华谊兄弟（3000 ...

Group 1 - Wang Zhonglei and Wang Xiaolong, co-founders of Huayi Brothers, have recently entered the short video space, attracting attention [2][3] - Wang Zhonglei's first video was posted in February 2021, but he only began frequent updates in November 2023, with a total of 26 videos; Wang Xiaolong joined in September 2023 and has posted over 20 videos [3][6] - The content of Wang Zhonglei's account focuses on entrepreneurship, work, film production, and life insights, while Wang Xiaolong shares daily life, marital relationships, and parenting [6] Group 2 - The couple's accounts have approximately 60,000 followers, and their videos appear to be produced by a professional team, although they are not affiliated with any MCN [6][9] - Wang Zhonglei's son, Wang Yuan, has a separate account with over 70,000 followers, focusing on his study abroad experiences, and charges between 20,000 to 30,000 yuan for advertisements [8][9] - Huayi Brothers has reported significant financial losses, with a total loss exceeding 82 billion yuan over the past seven years, and a net loss of 1.14 billion yuan in the first three quarters of 2025, a 168% increase year-on-year [9][10] Group 3 - The company has faced multiple lawsuits totaling around 110 million yuan, which is 30.71% of its latest audited net assets [9][11] - Huayi Brothers was founded in 2004 and became publicly listed in 2009, once valued at over 90 billion yuan, but has struggled with declining performance due to various industry challenges [10][13] - As of November 21, 2023, Huayi Brothers' stock price is 2.57 yuan per share, with a market capitalization of 7.13 billion yuan, significantly lower than its peak [13]

Core Insights - Huayi Brothers reported a revenue of 62.5956 million yuan for Q3, representing a year-on-year decline of 31.61% [1] - The net profit attributable to shareholders was -39.462 million yuan, showing a year-on-year increase of 41.27% [1] Film Production Updates - The film "Mermaid 2," directed by Stephen Chow, has entered the post-production stage [1] - The film "Catching Special Agents," directed by Feng Xiaogang and starring Lei Jiayin and Hu Ge, has completed filming [1] - Multiple film projects are in various stages of production or preparation, including titles such as "Little Soldier Zhang Ga," "Special Gift," "In the Net," "Parallel Mission," "Young Rocket," "Unexpected Farewell," "Super Mary," "One Promise," "Mountain Thief," "Street," "Temperature of Love," "Breakup Partner," and "Proposal" [1]

Core Viewpoint - The company is focusing on a "film production + IP operation" light asset business model to accelerate its return to healthy development [1] Group 1: Business Strategy - The company is concentrating high-quality resources to deepen its film business and produce high-quality films while enhancing the monetization channels of valuable IPs [1] - The company is actively optimizing its asset structure to strengthen and enhance the core competitiveness of its main business [1] Group 2: Project Development - The company has a rich project reserve and is set to strengthen its content advantages by 2025 [1] - The film "Mermaid 2," directed by Stephen Chow, is in the post-production stage, while "Catching Spies," directed by Feng Xiaogang and starring Lei Jiayin and Hu Ge, has completed filming [1] - Multiple film projects, including "Little Soldier Zhang Ga," "Special Gift," "In the Net," "Parallel Mission," and "Young Rocket," are either in production or in the process of being prepared for filming [1] - The company is steadily advancing several TV dramas, web series, and online films in which it has invested [1]

Financial Performance - The company has accumulated losses of 8.246 billion yuan from 2018 to 2024 [10] - The company is actively optimizing its asset structure to enhance core competitiveness [18] Strategic Initiatives - The company is focusing on a "film production + IP operation" light asset business model to accelerate recovery [13] - The company is continuously developing and reserving high-quality film projects, with several films scheduled for release in 2025 [11] Upcoming Projects - "The Sunflower" directed by Feng Xiaogang and starring Zhao Liying was released on April 4, 2025 [11] - "East Extreme Island," directed by Guan Hu, is scheduled for summer 2025 [11] - "The Breakup List," directed by Tian Yusheng, has completed post-production [11] - "Mermaid 2," directed by Stephen Chow, is in post-production [11] Production Pipeline - Multiple films are in various stages of production, including "Little Soldier Zhang Ga," "Special Gift," and "Unexpected Farewell" [11] - The company has established a short drama brand "Huayi Brothers Fire Drama" and has released several short dramas in early 2025 [12] Market Challenges - The company faces intense competition in the film industry, impacting its market share [18] - The company is taking measures to mitigate risks associated with high-investment projects like "East Extreme Island" [19]