What Strawbear Entertainment Group does

Strawbear Entertainment Group (HKEX: 02125.HK) is a Cayman Islands-incorporated holding company, headquartered in Nanjing, China, that operates through its core subsidiary Jiangsu Strawbear Film Co., Ltd. to produce and distribute Chinese-language drama series. The company runs a platform-type business model that integrates upstream IP, content creators, and investors with downstream distribution, maintaining an active pipeline of 20-30 IP reserves and producing both self-funded and made-to-order dramas.

Its commercial model is B2B broadcasting-rights licensing: finished series are licensed to top-tier Chinese satellite TV platforms (Dragon TV, Zhejiang TV, Jiangsu TV, Hunan TV) and to the four leading online video platforms (iQIYI, Youku, Tencent Video, Mango TV), with occasional sub-licensing to third-party distributors. The company pioneered the "first on internet, then on TV" (先网后台) broadcast model and holds a Class A Television Production License, one of only 41 issued nationwide and the only non-state-owned enterprise holder in Jiangsu Province.

The company went public on the Hong Kong Stock Exchange on January 15, 2021, raising approximately HK$1.311 billion. Reported total revenue was approximately RMB 1.703 billion in 2021, RMB 980 million in 2022, and RMB 1.124 billion in 2024 (+~33% YoY), while adjusted net profit has compressed sharply from ~RMB 194 million in 2021 to ~RMB 12.2 million in 2024 and ~RMB 6.7 million in 2025, reflecting significant margin pressure despite stable distribution relationships. Geographic expansion has included a Hainan subsidiary (2021), a Southwest headquarters in Chengdu (2022), and a US subsidiary (2022) supporting overseas market development, including participation in FILMART 2026.

Name

Strawbear Entertainment Group

Legal name

Jiangsu Strawbear Film Co., Ltd.

Website

https://strawbearentertainment.com

Company type

Public

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Strawbear Entertainment Group (HKEX: 02125.HK) is a Nanjing-headquartered Chinese drama series producer and distributor that licenses broadcasting rights to top satellite TV and online video platforms, operating an integrated IP-to-screen platform with a Class A production license.

Ownership category

akta.pro rank

Product category

Television Production & Distribution

NAICS

Motion Picture and Video Distribution (512120), Motion Picture and Video Distribution (51212), Motion Picture and Sound Recording Industries (512)

SIC

Services-Motion Picture & Video Tape Distribution (7822), Services-Allied To Motion Picture Distribution (7829), Services-Motion Picture & Video Tape Production (7812)

akta.pro primary industry

Content Supply Chain Orchestration & Workflow (Ingest-to-Publish, Automation) (MPAHALAG)

akta.pro secondary industries

Co-Production & Distribution Partnerships (Pre-Sales, Output Deals) (MPABANAI), Distribution Feeds & Syndication (Partner Delivery, APIs, Feeds) (MPAHALAJ)

Keywords

• Drama series production
• Television distribution
• IP licensing
• Video content licensing
• Media production services

Headquarters

HQ city

Nanjing

HQ country

China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Drama Series Production and Distribution: The company produces its own drama series and made-to-order drama series, and licenses the related broadcasting rights to major TV channels, online video platforms and sometimes third party distributors. This is the core revenue stream.
2. IP Licensing: The company develops and monetizes its IP reserves, some of which rank highly on online literature platforms, generating additional licensing revenue from IP adaptation and derivative rights.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Strawbear Entertainment Group produces original and made-to-order Chinese drama series, maintains a pipeline of 20-30 IP reserves, and licenses broadcasting rights to leading satellite TV platforms and online video platforms in China. The company pioneered the 'first on internet, then on TV' distribution model and integrates upstream and downstream resources across the drama production value chain.

Product overview

Strawbear Entertainment Group is a high-quality drama series producer and distributor in the PRC. The company operates a unified platform offering three integrated services: Drama Series Production (producing original and custom-made drama series), Drama Series Distribution (licensing broadcasting rights to major TV channels and online video platforms), and IP Reserves (maintaining 20-30 intellectual property assets for production pipeline). The company works with satellite TV platforms including Dragon TV, Zhejiang TV, Jiangsu TV, and Hunan TV, as well as online video platforms including iQIYI, Youku, Tencent Video, and Mango TV.

Differentiator

Problem solved

Functional benefit

Products and services

• Drama Series Production

Quantifiable outcome

• 《请君》于播映后24小时内突破爱奇艺热度值9000，创造爱奇艺历史最快达到9000热度值的记录
• +3 more outcomes

Named customers8 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered minor and core.

• US SubsidiaryminorOthers · 1 January 2022In 2022, the group established a US subsidiary as part of its overseas market expansion strategy alongside the Southwest headquarters in China.
• iQIYI (爱奇艺)coreChannel Partner/ Reseller/ DistributoriQIYI is one of Strawbear's primary online video distribution partners. Multiple drama series produced by Strawbear are streamed on iQIYI. Notable achievements include '请君' reaching iQIYI's heat value of 9,000 within 24 hours of release — a record at the time — and '浮图缘' also breaking the 9,000 heat value threshold.
• Youku (优酷)coreChannel Partner/ Reseller/ DistributorYouku is a major online video platform partner for Strawbear's drama series distribution. Strawbear produces content specifically licensed to Youku for streaming.
• Tencent Video (腾讯视频)coreChannel Partner/ Reseller/ DistributorTencent Video is one of Strawbear's key online video platform partners for drama series distribution, hosting multiple Strawbear productions.
• Mango TV (芒果TV)coreStrategic or Co-development PartnerMango TV and Strawbear established a strategic partnership through the 'New Mango S Plan' (新芒S计划). The first collaborative drama '白日梦我' has been successfully completed. This is a deeper co-development relationship rather than pure distribution.
• Dragon TV (东方卫视), Zhejiang TV (浙江卫视), Jiangsu TV (江苏卫视), Hunan TV (湖南卫视)coreChannel Partner/ Reseller/ DistributorStrawbear maintains regular and stable cooperative relationships with these top-tier satellite TV platforms for drama series broadcast licensing. Jiangsu Strawbear has strong distribution resources with these platforms.
• Southeast TV (东南卫视), Sichuan TV (四川卫视), Tianjin TV (天津卫视), Shandong TV (山东卫视), Hebei TV (河北卫视), Hubei TV (湖北卫视)minorChannel Partner/ Reseller/ DistributorAdditional satellite TV broadcast partners listed on the company's website for drama series distribution beyond the top-tier platforms.
• Boao Forum for Asia (博鳌亚洲论坛)coreOthersStrawbear Entertainment Group became a member unit of the Boao Forum for Asia in 2022. Chairman & CEO Liu Xiaofeng actively participates in the forum's private enterprise dialogue sessions, sharing insights on ESG management and green operations for the cultural industry.

Scale indicators11 records

Recent moves15 records

Expansion highlights5 records

Direct peers

• Ciwen Media: Ciwen Media (002343.SZ) is a Chinese drama and film production/distribution company with a similar IP-driven model and TV/online platform distribution. Comparable in slate strategy, IP reserve approach, and reliance on Chinese satellite TV and online platforms for licensing revenue.
• Beijing Enlight Media: Enlight Media (300251.SZ) is a major Chinese film and drama producer-distributor with broad distribution across the same satellite TV networks and online platforms as Strawbear. Larger in scale but operates the same B2B content licensing model with hit-driven economics.
• Wanda Film: Wanda Film (002739.SZ) is a Chinese film and drama distribution and production company with broad platform relationships. Comparable on distribution scale and content licensing economics, though more weighted toward theatrical release than Strawbear's TV/streaming focus.
• Bona Film Group: Bona Film Group (001330.SZ) is a Chinese film and drama production and distribution company. Operates a similar IP-to-screen pipeline, distributes through Chinese platforms, and competes for premium IP and talent — directly comparable on production economics and distribution strategy.
• Hualu Baina: Hualu Baina is a Chinese drama series production and distribution company with a similar IP-driven model and major platform partnerships. Competes for top-tier satellite TV time slots and online platform exclusive deals alongside Strawbear.
• Huace Media Group: Huace Media (300133.SZ) is a leading Chinese drama series producer and distributor with a similar library model and platform distribution strategy. Both companies license content to the same satellite TV networks and online platforms, making them directly comparable on slate size, hit ratio, and licensing economics.

Broad incumbents

• Youku (Alibaba): Youku is a key online distribution partner for Strawbear's drama series and is part of Alibaba (BABA.US). As both customer and platform competitor, it is a relevant benchmark for online video content investment trends and licensing terms in China.
• iQIYI: iQIYI (IQ.US) is one of Strawbear's primary online distribution partners and a major Chinese streaming platform. As a buyer of Strawbear content and producer of its own drama slate, it is a key reference point for streaming licensing economics and content investment trends in China.
• Mango Excellent Media: Mango Excellent Media (300413.SZ) operates Mango TV, one of Strawbear's key strategic distribution partners ('New Mango S Plan'). As a vertically integrated platform-owner and content producer, it is both customer and competitor — useful benchmark for platform-side economics and content licensing trends in China.
• Tencent Video (Tencent Holdings): Tencent Video is one of Strawbear's primary online distribution partners and is part of Tencent (0700.HK). As a major streaming platform with in-house production, it serves as both customer and benchmark for online platform content acquisition and licensing economics in China.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Strawbear Entertainment Group