CIWEN(SZ:002343)2022-12-05 00:56Group 1: Company Overview and Performance - Ciwon Media has a strong long-term fundamental outlook, consistently producing popular content such as "The Journey of Flower" (2015), "Old Nine Gates" (2016), and "Princess Agents" (2017) [4] - The upcoming drama "Liang Sheng" is expected to be a major hit in 2018, with significant preparations already underway for its broadcast [4] - The company is currently involved in several projects in post-production or filming stages, including "Darker 3," "Legend of the Condor Heroes," and "The Three-Body Problem" [4] Group 2: Industry Policy Insights - Recent regulations from the State Administration of Radio, Film, and Television (SARFT) favor companies focused on quality content, restricting the airing of overly entertaining dramas during significant promotional periods [4] - The government's emphasis on promoting positive content aligns with Ciwon Media's strategy, as evidenced by the recognition of "The Journey of Flower" by Minister Liu Qibao [4] Group 3: Financial and Market Strategy - Revenue recognition for "Liang Sheng" will occur once it passes approval and the master tape is delivered, with expectations for income confirmation in early 2018 [5] - Ciwon Media maintains a 100% investment stake in "Liang Sheng," ensuring quality and addressing market concerns regarding production quality [5] - The company is optimistic about the future of online films and series, with "The Sad and Joyful Girls' Band" being highlighted as a successful example of high-quality online content [5] Group 4: Future Projects and Trends - Upcoming projects include "Legend of the Condor Heroes," "Searching for Love," and "The Great Tang Magic Thief," with many classified as S-level productions expected to generate significant viewer interest in 2018 and 2019 [6] - The company anticipates an increase in the number of blockbuster productions, although the timing of such releases may vary [6] - The cultural industry is expected to receive more supportive policies from the government, enhancing copyright protection and benefiting companies focused on quality content [6]