Core Viewpoint - Wanda Film's brand renaming is a significant strategic decision that will be evaluated based on multiple factors including strategic planning, business layout, and brand image [1] Group 1 - The company stated that the brand renaming is part of a major strategic decision [1] - Important matters should be based on the announcements disclosed by the company [1]

证券日报网讯1月22日，万达电影（002739）在互动平台回答投资者提问时表示，按照相关规定，公司 将于2026年1月31日前披露2025年度业绩预告。 ...

Core Viewpoint - Wanda Film emphasizes the importance of long-term value creation for both the company and its investors, acknowledging that stock price fluctuations in the secondary market are influenced by various factors including industry trends, market liquidity, and investor sentiment [1] Group 1 - The company aims to improve its operational management and enhance development quality to better reward shareholders [1] - There is a focus on increasing intrinsic value as a means to promote market value appreciation [1]

证券日报网讯1月22日，万达电影（002739）在互动平台回答投资者提问时表示，公司一直积极推进降 本增效工作，在租金、设备、融资成本等方面，在保证运营品质的前提下不断进行成本优化，同时也会 对经营业绩不佳的影院进行整改或关停，不断提升经营效率。根据公司与万达集团签署的相关协议，公 司旗下万达广场内的影城的租金标准为净票房收入的11%，存续的租赁合同剩余期限不低于10年(自 2024年1月1日起)，且到期后可续展10年。 ...

Summary of Key Points Core Viewpoint - On January 22, a total of 8 companies had their restricted shares unlocked, with a total unlock volume of 300 million shares, amounting to a market value of 9.725 billion yuan based on the latest closing price [1]. Group 1: Unlock Volume and Market Value - The companies with the highest unlock volumes are ChaoYan Co., Ltd. (1.50 billion shares), XingFu Electronics (1.09 billion shares), and TaiKaiYing (15.28 million shares) [1]. - In terms of unlock market value, XingFu Electronics (5.308 billion yuan), ChaoYan Co., Ltd. (3.582 billion yuan), and ZhongTung High-Tech (345 million yuan) lead the list [1]. Group 2: Unlock Ratio - The companies with the highest unlock ratios relative to their total share capital are ChaoYan Co., Ltd. (35.05%), XingFu Electronics (30.38%), and TaiKaiYing (6.90%) [1].

证券之星消息，1月21日影视院线板块较上一交易日上涨0.03%，中国电影领涨。当日上证指数报收于 4116.94，上涨0.08%。深证成指报收于14255.12，上涨0.7%。影视院线板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600977 | 中国电影 | 16.47 | 1.67% | 37.73万 | | 6.18亿 | | 001330 | 博纳影业 | 8.53 | 1.55% | 89.78万 | | 7.68亿 | | 603103 | 横店影视 | 19.12 | 1.06% | 10.20万 | | 1.96亿 | | 300133 | 华策影视 | 8.68 | 0.93% | 78.98万 | | 6.89亿 | | 002739 | 万达电影 | 11.31 | 0.44% | 54.11万 | | 6.12亿 | | 300528 | 辛福蓝海 | 21.24 | 0.28% | 9.46万 | | 2.01亿 | | 0008 ...

Core Viewpoint - The company is set to release 14,457,831 shares from lock-up, representing 0.6846% of its total shares, with the release date scheduled for January 22, 2026 [1][2]. Group 1: Basic Information on Share Release - The release of locked shares is approved by the China Securities Regulatory Commission, following the acquisition of a 95.77% stake in Wanda Film Media Co., Ltd. through the issuance of 316,985,827 shares [1]. - The shares were originally issued to various parties, including 14,457,831 shares to Ms. Lin Ning, and were listed on May 27, 2019 [1]. Group 2: Shareholder Commitment and Compliance - The shareholders involved in the release have fulfilled their performance commitments, with a total of 162,700,446 shares repurchased and canceled by the company due to unmet performance targets for the years 2019, 2021, and 2022 [2]. - As of the announcement date, there are no outstanding commitments that would affect the release of the locked shares [2]. Group 3: Listing and Structural Changes - The listing date for the released shares is confirmed as January 22, 2026, with a total of 14,457,831 shares being released [2][3]. - The company confirms that there are no non-operational fund occupations or violations of commitments by the shareholders involved in the release [2][3]. Group 4: Independent Financial Advisor's Opinion - The independent financial advisor, China International Capital Corporation, has verified that the release of the locked shares complies with relevant laws and regulations, and there are no violations of commitments by the shareholders [3].

Core Viewpoint - The report from CITIC Securities expresses optimism for the 2026 Spring Festival box office, highlighting the scheduled releases of two high-grossing IP sequels, "Fast and Furious 3" and "Boonie Bears 12" [1] Group 1: Upcoming Releases - Two major sequels, "Fast and Furious 3" and "Boonie Bears 12," are confirmed for the 2026 Spring Festival [1] - Other significant releases from major platforms like Damai, Maoyan, Wanda Film, and China Film are anticipated to be announced soon [1] Group 2: Market Outlook - The company maintains a positive outlook for the overall performance of imported films in 2026 [1] - Anticipated imports include sequels from top IPs such as "Avengers," "Spider-Man," "Toy Story," and "Minions," which are expected to be introduced to the domestic market [1] - The successful import of films in 2025 and a rich reserve of Hollywood films for 2026 contribute to the optimistic forecast for domestic box office performance [1]

Core Viewpoint - CITIC Securities forecasts a strong performance for the 2026 Chinese film market, particularly during the Spring Festival, with several high-grossing IP sequels and strong cast films expected to be released [1][6][7] Group 1: 2025 Film Market Performance - The domestic film market in 2025 showed robust growth, with total box office revenue reaching 51.83 billion yuan, a year-on-year increase of 21.9%, and total audience attendance at 1.237 billion, up 22.6% [2] - The average ticket price was 41.9 yuan, a slight decrease of 0.5% compared to the previous year [2] - Box office and attendance figures recovered to 80.8% and 71.6% of the historical highs seen in 2019, respectively [2] Group 2: Key Trends in the Film Market - Series animated films performed exceptionally well, with four out of the top ten films in 2025 being animated, including record-breaking titles like "Nezha: Birth of the Demon Child" and "Zootopia 2" [3] - The highest-grossing animated film, "Nezha: Birth of the Demon Child," achieved a box office of 15.454 billion yuan, surpassing the previous record held by "The Battle at Lake Changjin" [3] - The film "Zootopia 2" set a new record for imported films with a box office of 4.331 billion yuan as of January 13, 2026 [3] Group 3: IP Development and Derivative Business - Film companies are increasingly focusing on IP cultivation, with many high-grossing films being sequels, and plans for further film installments and derivative products such as games and theme parks [4] - The film "Nezha: Birth of the Demon Child" established partnerships with 23 brands, generating over 10 million yuan in sales within eight days of launching related merchandise [4] - "Wang Wang Mountain Little Monster," another animated film, saw significant sales increases for its merchandise, with over 800 derivative SKUs developed in collaboration with more than 40 companies [5] Group 4: 2026 Film Market Outlook - The Spring Festival of 2026 is expected to feature multiple high-profile IP sequels and strong cast films, with "Flying Life 3" already scheduled for release on the first day of the Lunar New Year [6][7] - The film market is anticipated to benefit from an extended holiday period and a concentration of major films during the Spring Festival, which has historically led to record box office performances [7] - The film "Flying Life 2" previously achieved a box office of 3.361 billion yuan, setting a precedent for the upcoming sequel [8] Group 5: Import Film Supply - The supply of imported films in 2025 was robust, with significant box office performances from several Hollywood films, including "Zootopia 2," which became the highest-grossing imported film in China [5][9] - The total box office for imported films reached 10.885 billion yuan in 2025, marking a 9.4% increase and the first time since 2020 that it exceeded 10 billion yuan [5] - The outlook for 2026 remains positive, with a rich pipeline of Hollywood films expected to be released, including sequels to major franchises [9]

Group 1: Core Insights - The tourism and travel sector in China is experiencing significant growth, driven by increased consumer demand and favorable government policies [5][6] - The upcoming Spring Festival is expected to boost travel, with a notable increase in ticket bookings and travel service reservations [4][6] - Social security funds have heavily invested in key tourism stocks, indicating strong institutional interest in the sector [6] Group 2: Company Performance - China Duty Free Group (中国中免) has seen a cumulative stock increase of 30.91% since October 2025, supported by its expansion into city duty-free stores [6] - Spring Airlines (春秋航空) reported a 23.68% year-on-year increase in available ton-kilometers in December 2025, reflecting growth in operational capacity [7] - China National Aviation Holding (中国国航) and Spring Airlines are among the top holdings by social security funds, with market values of 5.56 billion and 6.01 billion yuan respectively [6] Group 3: Market Trends - The domestic tourism market showed strong recovery in 2025, with 4.85 trillion yuan in spending, an 11.5% increase year-on-year [5] - The "reverse Spring Festival" trend is gaining traction, with a 35% increase in ticket bookings for parents traveling to their children's work locations [4] - The Wind tourism index rose by 2.5% on January 19, 2026, indicating a positive market sentiment ahead of the Spring Festival [3]