Investment Rating - The industry rating is "Recommended" [4] Core Insights & Investment Recommendations - Unity and Epic Games announced a strategic partnership to create an open and interoperable ecosystem for game engines, allowing developers to publish Unity games on the Fortnite platform with over 500 million registered accounts, enhancing user reach and commercialization efficiency [2][21] - NVIDIA's quarterly performance exceeded expectations, with data center revenue growing by 289% year-on-year, reflecting strong demand for AI infrastructure [3][22] - The report suggests focusing on investment opportunities in leading internet companies in Hong Kong, the gaming industry, and the film and cultural tourism sectors, driven by consumption policies and technological empowerment [3][22] Sub-industry Data Film Industry - The top three films by box office this week are "Demon Slayer: Infinity Castle" with 134.67 million yuan (42.9% market share), "Wild Era" with 75.67 million yuan (24.1%), and "Now You See Me 3" with 55.44 million yuan (17.7%) [23][24] Gaming Industry - The top three iOS games by revenue are "Teamfight Tactics," "Dungeon & Fighter: Origin," and "Honor of Kings," while the top three Android games are "Heart Town," "Sword and Magic Legend," and "My Leisure Time" [25] TV Series Industry - The top three TV series by broadcasting index are "Tang Dynasty Ghost Stories: Chang'an," "Four Happiness," and "Phoenix Platform," with indices of 85.5, 82.4, and 81.8 respectively [26][27] Variety Shows & Animation - The top variety show is "Now Departing Season 3" with a broadcasting index of 82.4, followed by "Wonderful Night Season 2" and "Flowers and Youth Together" [28][29] - The top three animated shows by viewership index are "Xian Ni" with 212.8, "Happy Hammer" with 191.6, and "Swallowing the Starry Sky" with 187.2 [30]

除了《灌篮高手》《铃芽之旅》等头部作品带给市场的票房信心，日本动画电影引进潮背后是过去两年在中国迅速增 长的泛二次元群体。以谷子、快闪、联名为代表，这一群体的消费活力在零售领域得到充分验证，有着明确的2C属 性，电影代表了这一群体在内容消费市场的潜力。 内地预售票房斩获1.81亿元，刷新进口动画电影预售纪录，猫眼票务平台「想看」人数突破74万——《鬼灭之刃：无限城篇 第一 章 猗窝座再袭》上映首日票房达1.37亿元，上映5天累计破4亿元，成为中国市场现象级进口动画作品。 《鬼灭之刃》原作是吾峠呼世晴创作的少年漫画，于2016年2月至2020年5月在集英社《周刊少年JUMP》连载，故事围绕灶门炭 治郎为让变成鬼的妹妹祢豆子复原、为家人报仇，加入鬼杀队斩鬼的旅程展开。改编自漫画的TV动画大受好评，其兄妹羁绊、 精美战斗场景、鲜明角色群像及对人性与救赎的探讨都为观众津津乐道，完结后仍持续保持高热度。 此前2020年剧场版《无限列车篇》斩获407亿日元票房，打破《千与千寻》18年垄断登顶日本影史第一，其经济效应为彼时遭疫 情打击低迷的日本社会注入强心剂，是日本现象级国民IP。 《鬼灭之刃：无限城篇》是该系列首次登陆中 ...

Group 1 - Cat's Eye Entertainment (01896) has seen a decline of over 6%, with a cumulative drop of more than 12% in the last two trading days, currently trading at 6.91 HKD with a transaction volume of 54.27 million HKD [1] - The Japanese animated film "Demon Slayer: Infinity Castle Arc," introduced by Cat's Eye Pictures and co-distributed by China Film (600977), officially premiered on November 14, with a cumulative box office exceeding 382 million RMB as of November 17 [1] - Citi's recent research report has initiated a 30-day positive catalyst observation for Cat's Eye Entertainment, predicting that "Demon Slayer" could become the highest-grossing Japanese animated film in China, with a box office assumption of 1 billion RMB and a potential profit contribution between 108 million to 200 million RMB [1]

Core Viewpoint - Cat's Eye Entertainment (01896) has experienced a significant decline in stock price, dropping over 12% in the last two trading days, with a current price of 6.91 HKD and a trading volume of 54.27 million HKD [1] Group 1: Financial Performance - The Japanese animated film "Demon Slayer: Infinity Castle Arc," introduced by Cat's Eye Pictures and distributed by China Film, officially premiered on November 14 [1] - As of November 17, the film has grossed over 382 million RMB, with a box office forecast of approximately 590 million RMB from Cat's Eye Professional Edition [1] - Citigroup's recent report has initiated a 30-day positive catalyst observation for Cat's Eye Entertainment, predicting that "Demon Slayer" could become the highest-grossing Japanese animated film in China, with a potential box office of 1 billion RMB [1] Group 2: Profit Contribution - Citigroup estimates that the profit contribution from "Demon Slayer" could range between 108 million RMB and 200 million RMB, compared to the adjusted net profit forecast of 542 million RMB for 2025 [1]

猫眼娱乐(01896)回落逾6%，截至发稿，跌6.36%，报7.36港元，成交额7731.62万港元。 消息面上，由猫眼影业引进、中国电影（600977）参与发行的日本动画电影《鬼灭之刃：无限城篇》11 月14日正式登陆院线，并将登陆IMAX影院。而据猫眼专业版数据，电影《鬼灭之刃：无限城篇第一章 猗窝座再袭》猫眼开画评分9.7分，截至当前累计票房超1.10亿。 花旗近期研报指出，对猫眼娱乐开启30日正面催化剂观察，驱动因素为主要动画电影《鬼灭之刃》预定 于11月14日上映，由猫眼担任其发行商。花旗预期，《鬼灭之刃》将在中国成为第一日本动画电影，并 假设票房达10亿元人民币，预期利润贡献可能介于1.08亿元至2亿元人民币，对比2025年花旗调整后净 利预期为5.42亿元人民币。 ...

智通财经APP获悉，猫眼娱乐(01896)回落逾6%，截至发稿，跌6.36%，报7.36港元，成交额7731.62万港 元。 花旗近期研报指出，对猫眼娱乐开启30日正面催化剂观察，驱动因素为主要动画电影《鬼灭之刃》预定 于11月14日上映，由猫眼担任其发行商。花旗预期，《鬼灭之刃》将在中国成为第一日本动画电影，并 假设票房达10亿元人民币，预期利润贡献可能介于1.08亿元至2亿元人民币，对比2025年花旗调整后净 利预期为5.42亿元人民币。 消息面上，由猫眼影业引进、中国电影参与发行的日本动画电影《鬼灭之刃：无限城篇》11月14日正式 登陆院线，并将登陆IMAX影院。而据猫眼专业版数据，电影《鬼灭之刃：无限城篇第一章猗窝座再 袭》猫眼开画评分9.7分，截至当前累计票房超1.10亿。 ...

Core Insights - The total box office for the 2025 film market has reached 450.18 billion yuan as of November 10, with expectations to surpass 500 billion yuan by the end of the year due to four upcoming releases [1] Group 1: Upcoming Films - Four films expected to boost the box office are "Zootopia 2," "Now You See Me 3," "Demon Slayer: Infinity Castle Chapter One," and "Avatar: The Fire and Ash" [1] - "Zootopia 2" has a strong audience base, with its predecessor earning 15.38 billion yuan in the domestic market and a high interest from female viewers at 73% [1] - "Demon Slayer: Infinity Castle Chapter One" has already surpassed 100 million yuan in pre-sales, aiming to set a new record for imported animated films in China [1] Group 2: Market Trends - The success of animated films like "Nezha: The Devil Boy Comes to the World" and "Wang Wang Mountain Little Monster" demonstrates the strong potential of the animation genre, with "Nezha" contributing one-third of the total box office for 2025 [2] - The "Avatar" series has a loyal fan base in China, and the upcoming "Avatar: The Fire and Ash" is expected to drive box office growth due to its special effects and immersive experience [2] - "Now You See Me 3" is anticipated to perform well, following the success of its predecessor, which earned 6.38 billion yuan in the domestic market [2] Group 3: Industry Outlook - Citic Securities reports a positive outlook for the 2025 film market, highlighting the upcoming release of influential IP series that are expected to stimulate market demand and boost box office performance [3]

证券日报网讯中国电影11月10日在互动平台回答投资者提问时表示，《鬼灭之刃：无限城篇》为公司发 行的进口买断片。 （文章来源：证券日报） ...