证券之星刘浩浩 证券之星注意到，2024年奥飞娱乐计提的减值损失合计高达4.12亿元，包括计提商誉减值准备2.148亿 元，长期股权投资减值准备1.24亿元。 近日，奥飞娱乐（002292）(002292.SZ)官宣了包括《喜羊羊与灰太狼之异国破晓》在内的多部影视作 品的暑期上映计划，引发关注。 证券之星注意到，作为昔日动漫行业龙头的奥飞娱乐，虽坐拥众多经典IP，近年业绩却持续低迷。在扣 非后净利润"三连亏"后，其在2023年终于扭亏，然而2024年却再度亏损。除受到高额资产减值拖累，其 动漫文化主业业绩疲软是主因。 2024年，奥飞娱乐主业营收较2017年高点缩水近三成，核心玩具业务营收更是"腰斩"。而作为公司新增 长引擎的婴童用品业务高度依赖美国市场，在美国关税政策仍存变数的背景下，不确定性风险陡增。 高额减值吞噬利润，业绩扭亏成昙花一现 证券之星注意到，奥飞娱乐的营收在2017年以前增长迅速并在2017年达到36.42亿元峰值。但从2018年 起，其营收连续三年下滑，最近几年则处于小幅波动状态。 盈利方面，2023年奥飞娱乐实现扣非后净利润5628万元，同比成功扭亏。而在此前，其已连续三年亏 损。202 ...

一、行情 5月26日，AI玩具概念走强。龙头实丰文化涨停，奥飞娱乐、博通集成触及涨停，润欣科技涨超17%、华立科技等大涨超7%。 | 股票名称 | 最新价 = | 涨跌幅 ◆ | 换手率; | 流通市值令 | | --- | --- | --- | --- | --- | | 实丰文化 002862.SZ | | | | | | 国内知名的玩具产品制造商：公司玩具业务主要产品包括电动遥控玩具、婴幼玩具、车模 | | | | | | 玩具、动漫游戏衍生品玩具和其他玩具五大类,产品规格品种达1000多种,形成"智能电 | | 首板 | | | | 动玩具、IP动漫衍生品玩具、潮流玩具"三大主要产品线，打造了GPT网络版智能飞飞免 | 20.37 | +9.99% | 15.94% | 25.7 7 | | 等智能产品;IP动漫衍生品玩具方面,公司与重磅优质IP合作,获得宝可梦、奶龙,蛋仔 | | 13:47 涨停 | | | | 派对、贪吃蛇大作战、超级飞侠等热门IP授权,已开发宝可梦场景套装玩具系列,可达鸭 | | | | | | 款(电动)、奶龙款(电动)玩具正热销中 | | | | | | 博通集成 603 ...

Group 1: Financial Performance - The company's net profit for 2024 saw a significant decline of 404.66%, primarily due to impairment losses on goodwill and long-term equity investments [4][10] - The adjusted net profit, excluding non-operating impairment losses, showed stable profitability in core business operations [10] - The company's non-recurring net profit for 2024 was -287 million CNY, representing a year-over-year decline of 610.72% [9][10] Group 2: Revenue Insights - The revenue from toy sales decreased significantly, largely impacted by the preschool toy "Super Wings" [2][3] - The company's animation and television media revenue growth rates were 13.54% and -87.84%, respectively, with the decline in television media attributed to the divestment of a subsidiary [10] Group 3: Strategic Initiatives - The company is actively expanding its production capacity in Thailand to mitigate the impact of U.S. tariffs on its supply chain [2] - In the潮玩 (trendy toys) sector, the company collaborates with major brands like MiHoYo and Tencent, with this segment currently contributing less than 10% to overall revenue [5] - The company is leveraging AI technology in its products, with a noticeable increase in demand for AI toy products compared to the previous year [6] Group 4: Market Position and Future Plans - The company aims to enhance its market competitiveness in the潮玩 sector by expanding product categories and improving product playability [5] - The company is committed to integrating traditional cultural elements into its IP content creation, focusing on storytelling that reflects Chinese heritage [5] - The company is embracing live streaming and short video marketing strategies to boost brand exposure and e-commerce conversion [8]