Mango Excellent Media, the state-controlled long-video platform behind one of China’s most-watched satellite channels, saw its stock surge 44% after premiering « Journey to the West: The Later Tale » on August 31. This series is China’s first fully AI-generated long-form drama to air during prime time on a mainstream satellite channel. The stock hit the 20% daily limit-up for two consecutive days, adding more than 10 billion yuan to the company’s market capitalization, now valued between 31.8 and 38 billion yuan. However, the financial results tell a very different story: net profit for H1 2026 collapsed by 73.58% to just 202 million yuan, despite revenue rising 3.86% to 6.194 billion yuan.
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