The Zhitong Finance app learned that Enjoying Group (06988) rose more than 10%, rising 10.29% at press time to HK$0.375, with a turnover of HK$4.53 million.

According to the news, Fun Group has taken a solid first step in the field of short dramas through its subsidiary, Beijing Happy Huayue Culture Technology Co., Ltd., and has completed the filming of many short dramas of various genres. So far, it has covered various genres such as costumes, exploration, and sweet pets. Furthermore, the company previously established Poly Entertainment Technology through strategic cooperation between Happy Culture and Cultural Central Enterprise Poly Culture Group to jointly explore innovative businesses such as central enterprise MCN.

Short dramas are getting more and more popular, and over 100 million dramas have already been sold. Last year, there were short dramas worth 100,000 yuan each. This year, the cost of modern dramas was 500,000 yuan, and the cost of costume dramas was 7.8 million yuan. The higher cost could reach nearly 2 million yuan. The intensive inflow of capital shows the potential for the booming development of this industry. According to a research report released by Huatai Securities, according to Massive Engine, by November 2023, a total of 4,000 short dramas had been registered in China, and the average daily turnover of domestic short dramas was as high as 80 million; according to newcomers, users of short dramas consumed by users of the entire platform had already exceeded 100 million on the peak day of the National Day. The short drama ecosystem ushered in rapid growth and became an emerging content category.