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China's first AIGC long-form drama launches, Mango Excellent Media hits 20cm limit up for second straight day

China's first AIGC long-form drama, Journey to the West: The Later Story, has officially launched, igniting the A-share media sector, with Mango Excellent Media hitting the 20cm limit up for a second consecutive day. On September 1, the culture and media sector rose sharply, with H&R Century Union, China Television Media, IReader Technology, and Guangdong Guangzhou Daily Media among many stocks hitting limit up. On the news front, at 6 p.m. on August 31, the first season of Journey to the West: The Later Story, titled Huaguo Mountain Chapter, premiered on Mango TV, and at 8 p.m. it aired in the prime-time drama slot on Hunan Television, ranking first among provincial satellite channels in real-time ratings for its time slot upon its premiere broadcast. The drama is adapted from a Ming Dynasty novel and is the first nationwide series produced, reviewed, and aired simultaneously after the release of the 21 measures from the National Radio and Television Administration. Produced by Mango TV, it uses AIGC technology to complete visuals and character performances, with no live actors involved.

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300413.CS · Demand · Positive Mango TV produced the AIGC drama, driving its stock limit up

000892.CS · Demand · Positive Sector rally on AIGC drama launch, H&R Century hits limit up

002181.CS · Demand · Positive Sector rally on AIGC drama launch, Guangdong Guangzhou Daily hits limit up

603533.CG · Demand · Positive AIGC drama launch boosts sector, IReader hits limit up

603721.CG · Demand · Positive Sector rally on AIGC drama launch, TVZone hits limit up

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Zhangyue Technology reports net loss of 50.14 million yuan in 2026 interim report

Zhangyue Technology released its 2026 interim report, showing total operating revenue of 1.784 billion yuan and a net loss attributable to the parent company of 50.14 million yuan, ranking 11th among peer companies that have disclosed results. Net cash flow from operating activities was negative 117 million yuan, also ranking 11th. The company's latest debt-to-asset ratio was 22.12 percent, up 2.39 percentage points from the previous quarter; gross margin was 65.63 percent, down 5.27 percentage points year on year; return on equity was negative 2.20 percent, ranking 10th. Diluted earnings per share were negative 0.11 yuan, ranking 11th. Total asset turnover was 0.60 times, and inventory turnover was 3,184.43 times. The number of shareholders was 63,800, and the top ten shareholders held 237 million shares, accounting for 54.03 percent of total share capital.

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603533.CG · Capital · Negative Reports net loss of 50.14 million yuan in 2026 interim report.

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Zhangyue Technology posts first-half loss of 50.14 million yuan, with short-drama derivative revenue up 41.45%

Zhangyue Technology released its 2026 semi-annual report on August 26. In the first half of the year, it achieved operating revenue of 1.784 billion yuan, up 16.89% year on year, while net profit attributable to the parent company was negative 50.14 million yuan, narrowing its loss compared with the same period last year. During the reporting period, the company launched more than a thousand short dramas in total, and derivative businesses including short dramas generated revenue of 1.185 billion yuan, up 41.45% year on year, with the overseas short-drama market becoming the core growth driver.

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603533.CG · Capital · Neutral Company reports loss but revenue grows and short-drama derivative revenue up 41.45%, mixed results.

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Zhangyue Technology expects first-half loss to narrow to about 52.43 million yuan

Zhangyue Technology issued an announcement, expecting a net loss attributable to the parent of about 52.43 million yuan for the first half of 2026, narrowing from a loss of 160 million yuan in the same period last year. The net loss attributable to the parent after deducting non-recurring items is expected to be about 76.06 million yuan, compared with a loss of 170 million yuan a year earlier. The company is using AI short dramas as a growth engine, consolidating its position in the top tier of the domestic short drama industry, and treating overseas markets as a core strategic growth pole, advancing a dual-line layout of deepening domestic presence and breaking through overseas. However, affected by the pace of business expansion, the company remains in a period of high-intensity investment, which creates significant phased pressure on profitability. In the first quarter of 2026, Zhangyue Technology achieved revenue of 794 million yuan, with a net loss attributable to the parent of 33.73 million yuan.

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603533.CG · Capital · Negative Company expects first-half loss to narrow but remains loss-making due to high-intensity investment, with phased pressure on profitability.

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