On October 23, 2026, China's first AI hyper-realistic theatrical film, Sanxingdui: Future Memories, opened in cinemas nationwide. With a runtime of 100 minutes。
A Film That "Exploded" in the Capital Market Before Release
On October 23, 2026, China's first AI hyper-realistic theatrical film, Sanxingdui: Future Memories, opened nationwide. The 100-minute film is the first in China whose Dragon Mark explicitly states that "all visuals and part of the audio were generated by AI." Its heat had already ignited the capital market more than a month before release.
Plot and Production
Set in the future, the film follows Jiang Cheng as he traces Sanxingdui artifacts and uncovers astronaut Xiling's secret journey back to the ancient Shu period. Centered on bronze glyphs, it links ancient Shu civilization with a future AI crisis. Characters are original digital creations, with archaeological materials used to recreate the bronze sacred tree and gold masks.
It is not "one-click generated." Chief producer Jiang Defu said the team followed a full film-industry workflow, retouching frame by frame, with 17 specialized departments and nearly a hundred people involved, at a cost in the tens of millions of yuan. Its predecessor, the 2024 Douyin AI short drama Sanxingdui: Future Revelation, drew over 160 million views. Shengshu Technology is a co-producer, and its Vidu models served as "chief technical support."
Bona Film Group: Betting on AI
Bona Film Group (001330.SZ), behind hits like The Battle at Lake Changjin, forecast a 2025 net loss of roughly 1.28–1.5 billion yuan. In H1 2026, revenue was 458 million yuan and net loss narrowed 84% year-on-year to 169 million yuan, with operating cash flow up nearly 460%. This "improving fundamentals + AI theme" combination drew market attention to its new "AI film" label.
Stock Rally: Three Limit-Ups in Six Days
After the September 27 release announcement, the stock hit limit-up at 6.36 yuan the next day, again at 6.97 yuan on October 9, and a third time at 7.67 yuan on October 12. Turnover reached 28.37% on October 13, single-day trading value exceeded 2.2 billion yuan on October 14, and market cap briefly hit 10.3 billion yuan, up over 30% from September 24. The Shenzhen Stock Exchange issued an abnormal fluctuation announcement on October 13.
Market Feedback: Sell on the News
As release neared, the stock pulled back: on October 22, Bona hit limit-down, closing at 5.90 yuan with market cap falling to 8.1 billion yuan — a classic "good news cashed out" case. Public opinion was sober too. The creative team told Global Times that "AI films are not quick-fix productions; audiences expect a story worth watching." Media questioned whether the film can meet expectations, noting the company remains loss-making with a negative TTM P/E ratio.
The "First Ticket" on the AI Film Track
The film's value may lie less in opening box office than in the path it blazed: the complete chain from project initiation and production to a Dragon Mark and compliant release, plus the "technology company (Vidu) × film company (Bona)" collaboration model. For AI content entrepreneurs, it is both a tailwind and a test of "storytelling power" — audiences ultimately pay only for "a story worth watching."