传媒行业跟踪报告：清明档聚焦现实主义，票房表现有望稳中向好

Investment Rating - The industry investment rating is "Outperform the Market" [4][18]. Core Insights - The 2025 Qingming Festival film season is expected to feature 7 key films, including "The Silent Love," "Hot," "Sunshine Blossoms," "Operation Fox Hunt," "My World Movie," "Mobile Suit Gundam: Cross-Time War," and "Sunshine Shines in Youth" [1]. - The overall box office performance for the Qingming Festival is anticipated to improve, with a historical trend showing an increase from 687 million yuan in 2018 to 843 million yuan in 2024, with the box office share rising from 1.13% to 1.98% [2][8]. - The internal structure of the films is diverse, catering to various audience preferences, with a focus on realism. The top three films projected for the 2025 Qingming Festival are "Sunshine Blossoms," "The Silent Love," and "My World Movie," with a total box office forecast of 714 million yuan [3][14]. Summary by Sections Overall Box Office - The Qingming Festival is positioned as the first major box office period after the Spring Festival, historically playing a crucial role in the first half of the year. The box office for the Qingming Festival has shown a gradual increase over the years, with a notable recovery in 2024 driven by Hayao Miyazaki's film [2][8]. Internal Structure - The upcoming films for the Qingming Festival encompass various genres, including suspense, crime, action, and fantasy, focusing on realistic themes. The film "Sunshine Blossoms," directed by Feng Xiaogang and starring Zhao Liying, is expected to perform well due to its strong narrative and cast [3][10]. Investment Recommendations - The report suggests that the viewing enthusiasm will continue to be released due to the rich supply of films and diverse genres, leading to a stable and positive box office performance. It recommends focusing on high-quality film production companies and leading cinema chains [16].