NO.2 开拓海外市场仍是中企出海首要动因 全球财会专业组织ACCA（特许公认会计师公会）联合上海国家会计学院等机构发布《CFO视角下的中 国企业出海机遇与挑战》报告。报告显示，开拓海外市场仍是中企出海首要动因。报告指出，企业出海 仍以传统出口为主，数字化与平台化模式占比较低。从财务管理者的视角看，监管合规、地缘政治与人 才短缺是出海企业面临的三大核心财务风险。 点评：传统出口模式使企业易受反倾销、汇率波动冲击，跨境财税合规、ESG披露及本地化人才需求将 快速释放，利好国际审计、财税SaaS、海外人力外包等专业服务商；具备数字化风控与本地化财务团队 的企业，在融资、估值上可能会获得溢价。 丨2025年11月18日星期二丨 NO.1 动画电影《鬼灭之刃》让IMAX成抢票主战场 日前，动画电影《鬼灭之刃：无限城篇第一章猗窝座再袭》登陆内地影院，作为系列电影作品在内地的 大银幕首秀，该片首周末IMAX票房表现强劲，揽获8750万元，并以1%的银幕数，收获23%的票房占 比。影片的热度也带动了中国电影市场久违的"零点场"观影热潮。IMAX场次成为重点抢购的对象，在 观众热情驱动下，该片零点场IMAX票房占比达38%， ...

11月11日，根据第三方平台猫眼专业版的数据，电影《鬼灭之刃：无限城篇第一章猗窝座再袭》预售总 票房(含零点场)突破1.199亿元，超《灌篮高手》预售票房成绩，刷新中国影史进口动画电影预售票房纪 录。 值得关注的是，国庆档收官后，国内电影市场票房表现较为乏力，而从11月中下旬开始，陆续有多部热 门IP系列的引进片上映，有望带动市场热度抬升。 多部IP引进片定档 作为迪士尼旗下人气IP，首部《疯狂动物城》曾在全球揽获超10亿美元票房，在内地也斩获15.38亿元 票房。电影票房成绩斐然的同时，线下乐园——上海迪士尼乐园在2023年12月正式开启"疯狂动物城"主 题园区以来，吸引大批粉丝前往。为庆祝电影新作即将上映，上海迪士尼度假区将于11月18日在全球唯 一一个"疯狂动物城"主题园区举办电影全球庆典。 数据显示，《疯狂动物城2》将于11月26日正式上映，在猫眼平台上想看人数已经超过151万人，在另一 平台淘票票上的累计想看人数已接近160万人。 "阿凡达"系列同样是全球顶级IP，首部《阿凡达》于2010年上映时，单片票房突破10亿元，曾创下当时 中国内地单片票房纪录；于2022年上映的《阿凡达：水之道》内地票房达 ...

Core Viewpoint - The Hong Kong film stocks continue to rise, with notable increases in companies like Maoyan Entertainment and Damai Entertainment, driven by upcoming film releases and positive market data [1] Group 1: Market Performance - Maoyan Entertainment's stock price surged over 8% in early trading, marking a seven-day consecutive increase [1] - Damai Entertainment, which rose 8.5% yesterday, continued to increase by 2% [1] - Other companies such as Ningmeng Film, Big High Group, and IMAX China also experienced upward movement in their stock prices [1] Group 2: Box Office Data - As of November 10, 2025, the total box office for the film market reached 450.18 billion yuan [1] - There are four upcoming films expected to be released within the next month, which could help the annual box office surpass 500 billion yuan [1] - The four films include "Zootopia 2," "Now You See Me 3," "Demon Slayer: Infinity Castle Chapter One," and "Avatar: Fire and Ash," all of which are well-known IPs with a solid audience base [1] Group 3: Analyst Insights - Citigroup's recent report has initiated a 30-day positive catalyst observation for Maoyan Entertainment, driven by the anticipated release of the animated film "Demon Slayer," scheduled for November 14, with Maoyan as the distributor [1]

Group 1 - Cat's Eye Entertainment (01896) shares rose over 6%, currently up 6.49% at HKD 8.04, with a trading volume of HKD 41.1 million [1] - The film "Demon Slayer: Mugen Train" achieved over RMB 100 million in total box office from previews and pre-sales within the first four days, with midnight screening pre-sales exceeding RMB 10 million [1] - The previous box office for the film in Japan was USD 239 million, while in North America it was USD 133 million [1] Group 2 - Upcoming films include "Now You See Me 3" scheduled for November 14 and "Zootopia 2" set for November 26, indicating a strong pipeline of releases [1] - Huayuan Securities emphasizes the importance of box office performance for imported films, noting that the film market is supply-driven, with strong performances from previous installments likely to stimulate viewing demand [1] - Citigroup's recent report highlights a 30-day positive catalyst observation for Cat's Eye Entertainment, driven by the major animated film "Demon Slayer" set to release on November 14, with Cat's Eye as the distributor [1] Group 3 - Citigroup anticipates "Demon Slayer" will become the highest-grossing Japanese animated film in China, projecting a box office of RMB 1 billion, with potential profit contributions estimated between RMB 108 million and RMB 200 million [1] - This projection is compared to Citigroup's adjusted net profit forecast of RMB 542 million for 2025 [1]

Group 1 - The core point of the article highlights the strong pre-sale box office performance of two films, indicating positive market sentiment in the film industry [2] - The film "Now You See Me 3" has achieved a pre-sale box office of over 7 million yuan [2] - The film "Demon Slayer: Mugen Train - Chapter One" has surpassed a pre-sale box office of 100 million yuan [2]