Mango Excellent Media Stock Soars 44% Amid AI-Generated Drama Frenzy

Mango Excellent Media, a Chinese state-controlled long-video platform behind one of China's most-watched satellite channels, has seen its stock surge by 44% in two days. The company's stock hit its daily limit-up on August 31 and again on September 1 after premiering Journey to the West: The Later Tale, China's first fully AI-generated long-form drama to air during prime time on a mainstream satellite channel.

The series was built using AI tools and produced under the regulatory framework of the National Radio and Television Administration. Mango has been developing AI content capabilities since at least 2018, building out its Shanhai AIGC platform among other tools.

The company's market capitalization ballooned to between 31.8 to 38 billion yuan after the surge, with other A-share companies linked to AI and media seeing sympathetic buying. However, Mango's first-half 2026 financial results tell a different story, with net profit collapsing by 73.58% compared to the same period a year earlier.