中国电影:中国电影“提质增效重回报”专项行动2024年度评估报告及2025年度行动方案(英文版)

Stock Code: 600977 Stock Name: China Film
China Film Group Co., Ltd.
Corporate Value and Return Enhancement
Action Plan
2024 Assessment Report and 2025 Action Plan
China Film Group Co., Ltd.
Corporate Value and Return Enhancement Action Plan
2024 Assessment Report and 2025 Action Plan
In 2024, China Film Group Co., Ltd. (hereinafter referred to as
"China Film" or "the Company") thoroughly implemented the spirit
of the 20th CPC National Congress, the Third Plenary Session of
the 20th CPC Central Committee, and the Central Economic Work
Conference. The Company took concrete measures to actively
implement the Action Plan of "Improving Quality, Increasing
Efficiency and Emphasizing Returns" in 2024, achieving positive
results across various tasks. Based on a comprehensive
assessment of the 2024 execution, and considering the Company's
development stage, industry characteristics, and investor demands,
China Film has formulated the Corporate Value and Return
Enhancement Action Plan in 2025. The 2024 Assessment Report
and the 2025 Action Plan are hereby announced as follows.

Part I: Assessment Report of Corporate Value and Return
Enhancement Action Plan in 2024
I. Deeply Cultivating the Film Industry and Improving the
Quality of Operation
1. Focusing on Film Creation and Production
In 2024, the Company produced and released 46 films,
accounting for 70.19% of the total box office for domestic films. The
Company's productions occupied 9 spots in the annual top 10 box
office rankings and won over 140 domestic and international
awards, including the Best Works Award and China Film Golden
Rooster Awards. Among them, the epic film The Volunteers: The
Battle of Life and Death, which comprehensively depicted the great
course of the War to Resist U.S. Aggression and Aid Korea, was a
tribute to the 75th anniversary of the People's Republic of China,
winning the National Day holiday box office championship and
topping the audience satisfaction survey. The Journey of a
Legendary Landscape Painting, exploring the creative
transformation of China's outstanding traditional culture through
cross-media artistic techniques, was hailed by audiences as the
"Most Beautiful Film of the Year". The tribute films celebrating the
25th anniversary of Macao's return to the motherland, Until Find
You and Revisit, resonated with young audiences, reflecting the
enduring and deep kinship bonds where blood is thicker than water.
Snow Leopard, using Xizang’s cultural elements to convey
philosophical contemplation, won multiple awards including "Best
Film" award at the 36th Tokyo International Film Festival. The
"China Film Youth Talents Initiative" released 5 films covering
genres such as thriller, comedy, and romance.
2. Optimizing the Asset Structure and Industrial Layout
The Company completed the reform of the film production
system, integrating the production and post-production business
systems to establish a unified layout centered on creation,
spanning investment, development, production, and operation.
China Film Studio has completed adjustments of organizational
structure, personnel composition, and business processes. The
Company completed the equity acquisition of China Film Innovation
and Development (Beijing) Co., Ltd., incorporating rural film and
campus film businesses into the industrial chain system, creating
conditions for integrating secondary markets and expanding
incremental market space.
3. Taking Various Measures to Promote Lean Management
The Company advanced the digital transformation and
upgrading of financial management, with the Company's Treasury
Management System officially launched. The Company deepened
the integration of business and finance, strengthened source
control and process monitoring and warning, increased operating
cash inflows, and reduced bad debt risks. The Company launched
a tax system to enhance the accuracy and standardization of tax
work. The Company formulated the Accounts Receivable
Management Measures, strengthening partner credit management
and establishing a negative list based on risk factors such as
II. Promoting Scientific and Technological Innovation and
Developing New Quality Productive Forces
1. Promoting the Capacity Building of Sci-tech Innovation
The board of directors formulated and released the Work Plan
for Advancing Film Technology Innovation Capacity Building
(2024-2026). Centering on the core goal of enhancing
technological capabilities, the Company systematically integrated
technology-related businesses, assets, talents, and resources,
reorganized and established "China Film Technology" as an
innovation entity. Currently, this subsidiary has completed
adjustments to its organizational structure, personnel composition,
and business processes, further rationalized its business
framework, enhanced synergies, and made its cor