Mango Excellent Media reports Q3 profit rebound and expands AIGC operations
Mango Excellent Media reported nine-month 2026 revenue of RMB 9.351 billion, up 3.18%, and attributable net profit of RMB 213 million. Third-quarter attributable net profit rose nearly fourfold from the previous quarter, while gross margin increased 5.45 percentage points. The company also detailed the Mango Lingchuang platform, a dedicated AIGC innovation content center and a 28-work slate. Its report described After Journey to the West as the first AI long-form drama to air in a prime-time satellite slot; the supplied material did not independently verify that claim.
The update combines an improvement in quarterly profit and margin with a concrete organizational and content pipeline for AIGC, which the report says is moving the company beyond a single-project trial. It also provides a public-company test of Mango Excellent Media’s AI long-form drama strategy, while the first-to-air claim remains uncorroborated in the supplied material.
10月27日，芒果超媒正式发布了2026年三季度财务报告。财报显示，公司在前三季度实现营业收入93.51亿元，同比增长3.18%，归母净利润达2.13亿元。
纵观前三季度，公司利润层面受到刚性内容成本、部分渠道合作模式调整、影视剧排播节奏致会员收入下降，以及投资标的公允价值变动和研发宣发等费用影响。但值得关注的是，第三季度业绩已迎来了明确的底部反转信号——第三季度归母净利润环比大幅增长近4倍，毛利率环比提升5.45个百分点。
AI长剧打响厂牌化第一枪，技术降本助推估值重构
AI技术的深度应用与商业化闭环，正在成为资本市场重构芒果超媒估值的核心变量。作为国内首部登陆卫视黄金档的AI长剧，《后西游记》实现了口碑与招商的双重突破。该剧“花果山篇”开播后，芒果超媒股价连续两日收获20%涨停，市值增长约116亿元;国庆期间“战天宫篇”提档播出，节后首个交易日股价再次触及涨停（19.98%）。项目累计获得全网超40亿次传播和超300次热搜，并成功斩获修正药业独家冠名及丁桂儿脐贴等多家品牌广告中插。
#Mango Excellent Media#After Journey to the West#Mango Lingchuang Theater#Mango Lingchuang platform#MangoTV#Hunan Satellite TV#Zhongtai Securities