证券之星消息，10月23日数字媒体板块较上一交易日上涨0.46%，掌阅科技领涨。当日上证指数报收于 3922.41，上涨0.22%。深证成指报收于13025.45，上涨0.22%。数字媒体板块个股涨跌见下表： 从资金流向上来看，当日数字媒体板块主力资金净流出1.43亿元，游资资金净流入3641.58万元，散户资 金净流入1.06亿元。数字媒体板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入(元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 603533 掌阅科技 | | 6110.63万 | 17.57% | -1484.98万 | -4.27% | -4625.65万 | -13.30% | | 300295 三六五网 | | 756.98万 | 12.06% | -51.26万 | -0.82% | -705.72万 | -11.25% | | 300987 川図传媒 | | 737.16万 | 5.03% | 1325.05万 | 9. ...

【#视觉中国披露同剪映合作进展# ：已有收入确认】#视觉中国与剪映合作已有收入确认#针对字节剪 映与视觉中国目前合作进展，10月19日下午，视觉中国在分析师会议上表示，与剪映的合作是视觉中国 在AI应用领域的重要合作，目前与该项合作已经有收入确认。视觉中国方面表示，目前公司正在与国 内领先的AIGC内容生成服务商进行合作，推动AI生成+版权的商业模式落地。(智通财经） ...

证券之星消息，10月20日数字媒体板块较上一交易日上涨1.9%，*ST返利领涨。当日上证指数报收于 3863.89，上涨0.63%。深证成指报收于12813.21，上涨0.98%。数字媒体板块个股涨跌见下表： 从资金流向上来看，当日数字媒体板块主力资金净流入3014.55万元，游资资金净流出3509.19万元，散户 资金净流入494.64万元。数字媒体板块个股资金流向见下表： | 代码 | 名称 | 主力净流入(元) | 主力净占比 游资净流入 (元) | | 游资净占比 散户净流入 (元) | | 散户净占比 | | --- | --- | --- | --- | --- | --- | --- | --- | | 600640 国脉文化 | | -3202.01万 | 4.93% | 2477.15万 | 3.82% | -5679.16万 | -8.75% | | 300413 | 芒果超媒 | 1926.60万 | 6.36% | -1893.30万 | -6.25% | -33.30万 | -0.11% | | 600228 *ST返利 | | 1491.72万 | 42.57% | -833.49 ...

本报讯 （记者徐一鸣）近日，视觉（中国）文化发展股份有限公司（以下简称"视觉中国"）与北京凌 川科技有限公司（以下简称"凌川科技"）签署投资框架协议并达成战略合作，双方将在AI视觉芯片、多 模态大模型训练推理、智算解决方案等领域展开深度合作。 视觉中国表示，本次合作将有助于推动AIGC内容产业的技术升级与模式创新，为全球视觉内容创作者 和使用者提供更高效、智能的服务，践行国家文化数字化战略，共同开创视觉AI的新时代。 （编辑 张伟） 根据协议，视觉中国与凌川科技将建立多层次战略合作关系。视觉中国将依托其上市公司地位和在多模 态大模型应用领域的深厚积累，为凌川科技高端智能视频芯片拓展市场。双方拟共同建立合资公司，实 现资源互补与共赢发展。凌川科技则基于其在高端智能视频芯片研发方面的技术优势，为视觉中国及其 合作企业的多模态模型研发及服务需求，提供全面的智算解决方案。 ...

视觉中国10月19日在线上会议中表示，公司近年来积极拥抱AI技术，已与多家AIGC头部企业达成战略 合作，共建"可商用+可溯源"的视觉创意行业大模型。此外，公司已获得阿里、微软等国内外多家头部 大模型公司提供合规数据服务业务订单，用于模型训练等目的。公司作为全球领先的视觉内容版权交易 和创意定制服务平台，目前拥有可供AI大模型训练的高质量、版权合规的内容数据超过7亿。 ...

Group 1: Investment and Strategic Partnerships - The company plans to strategically invest in Lingchuan Technology, which focuses on high-end computing power and chip development, aiming to enhance its AI ecosystem [2][3] - Lingchuan Technology's SL200 chip can handle 36 channels of HD video simultaneously and has been deployed in over 70,000 units, supporting more than 700 million user service requests [3][4] - The partnership with Lingchuan Technology is part of the company's strategy to integrate AI, content data, and application scenarios, enhancing its competitive edge in the AI commercialization market [3][4] Group 2: Market Expansion and Product Development - The SL200 chip has entered markets in Southeast Asia, Singapore, and Brazil, indicating strong global competitiveness and potential for overseas expansion [3] - The next-generation chip from Lingchuan Technology is set to enter mass production next year, with applications in autonomous driving, low-altitude economy, and intelligent robotics [3][4] - The company has established a multi-layered cooperation model with Lingchuan, including technology collaboration, market expansion, and capital binding, with plans for future capital operations [4] Group 3: AI Ecosystem and Revenue Generation - The company has secured data service business orders from major AI model companies like Alibaba and Microsoft for model training and compliance data [5][6] - The company is building a commercial model that benefits creators, AI model providers, and clients, aiming to provide high-quality images, videos, and AI services [5][6] - The company possesses over 700 million high-quality, copyright-compliant content data for AI model training, positioning itself as a key player in the generative AI value chain [6][7] Group 4: Collaboration with AI Generative Companies - The collaboration with ByteDance's Jianying has already resulted in confirmed revenue, highlighting the company's active role in the AI application field [6][7] - The company is working with leading AIGC content generation service providers to implement a commercial model that integrates AI generation with copyright management [8]

Market Overview - On October 17, the digital media sector experienced a decline of 3.41%, with Vision China leading the drop [1] - The Shanghai Composite Index closed at 3839.76, down 1.95%, while the Shenzhen Component Index closed at 12688.94, down 3.04% [1] Individual Stock Performance - Vision China (000681) closed at 22.29, down 10.01% with a trading volume of 787,500 shares and a transaction value of 1.832 billion [1] - Other notable declines include: - Worth Buying (300785) down 3.99% to 32.71 with a transaction value of 220 million [1] - Mango Super Media (300413) down 3.91% to 29.46 with a transaction value of 431 million [1] - Zhaochuang Information (301299) down 2.86% to 52.71 with a transaction value of 45.5 million [1] Capital Flow Analysis - The digital media sector saw a net outflow of 372 million from main funds, while retail investors contributed a net inflow of 280 million [1] - Specific stock capital flows include: - Vision China had a main fund net outflow of 224 million, with retail inflow of 165 million [2] - Mango Super Media experienced a main fund outflow of 41.4 million, but retail inflow of 46.5 million [2] - Xinhua Net (603888) had a main fund outflow of 24.3 million, with retail inflow of 15.3 million [2]

Core Viewpoint - Visual China has signed an investment framework agreement with Lingchuan Technology, focusing on deep cooperation in AI visual chips, multimodal large model training and inference, and intelligent computing solutions [1] Group 1: Investment Details - Visual China plans to invest up to 100 million RMB in newly issued shares of Lingchuan Technology [1] - Lingchuan Technology commits to allowing Visual China the right to preferentially subscribe to any future increase in registered capital based on its shareholding ratio after the investment [1]

Core Viewpoint - The recent surge in Visual China’s stock price, driven by the AI application trend, has rekindled interest in the company, which is recognized as a leader in copyright management in China [1][2]. Group 1: Company Performance and Financials - Visual China experienced a significant stock price increase of 40% over five trading days, reminiscent of its performance at the end of last year [1]. - The company reported a slight revenue increase of 0.05% year-on-year to 399 million yuan for the first half of 2025, while net profit declined by 13.91% to approximately 43.78 million yuan [6][7]. - The company’s revenue has not returned to its 2018 levels, with a notable drop of over 20% in 2019 and 2020, followed by a recovery that has yet to reach previous highs [8]. Group 2: Market Context and Competitive Landscape - Visual China holds a dominant position in the domestic copyright market, controlling 70% of the legitimate image market share and being the only listed company covering the entire copyright industry chain [35]. - The company’s current price-to-earnings ratio exceeds 100, indicating a high valuation compared to its financial performance [10]. - In contrast, global competitors like Getty Images and Shutterstock have seen their stock prices hit recent lows, highlighting the competitive pressures in the market [11]. Group 3: AI Integration and Future Opportunities - Visual China is positioned as a critical player in the AI application landscape, with ongoing collaborations with major tech firms like Huawei Cloud to develop AI models [13][14]. - The company has begun developing a new AI content trading platform, which has already seen over 6 million AI-assisted creative images or videos generated in 2024, generating sales exceeding 18 million yuan [17][18]. - The data factor market in China is projected to grow significantly, from 1,049 billion yuan in 2022 to 3,350 billion yuan by 2028, indicating a growing opportunity for companies like Visual China [24]. Group 4: Industry Trends and Challenges - The rise of generative AI content is reshaping the landscape, with increasing participation from users in content generation, which may lead to standardization and scale [27][28]. - The implementation of new regulations is shifting data from a cost item to an asset item, potentially enhancing the value of content libraries held by companies like Visual China [28]. - Despite the opportunities presented by AI, the company faces challenges from new entrants and evolving technologies that could disrupt its market position [35].

Core Viewpoint - The article discusses the recent surge in Visual China's stock price, driven by the AI application trend, particularly following the release of OpenAI's Sora2 model, which has reignited interest in AI-generated content and its implications for the copyright industry [2][3][8]. Group 1: Company Performance and Market Position - Visual China experienced a 40% increase in stock price over five trading days, reminiscent of its previous performance at the end of last year [3]. - The company's revenue for the first half of 2025 was 399 million yuan, showing a slight increase of 0.05% year-on-year, while net profit decreased by 13.91% to approximately 43.78 million yuan [12][14]. - Visual China holds a dominant position in the domestic copyright market, controlling 70% of the legitimate image market and being the only listed company covering the entire copyright industry chain [46]. Group 2: AI and Future Opportunities - The rise of AI-generated images poses a potential threat to Visual China's traditional business model, as users can create images without purchasing copyrights [20][21]. - Despite current challenges, Visual China is positioning itself as a key player in the AI application landscape, having initiated collaborations with major AI model companies and developing an AI content trading platform [24][27]. - The company has reported over 6 million AI-assisted creative images or videos added to its platform in 2024, generating sales exceeding 18 million yuan, although AI-related business still accounts for a minimal portion of total revenue [28]. Group 3: Industry Trends and Challenges - The data factor market in China is projected to grow from 104.9 billion yuan in 2022 to 162.8 billion yuan in 2024, indicating a significant opportunity for companies like Visual China [34]. - The article highlights the importance of data as a production factor in AI, emphasizing that high-quality data is essential for training AI models [32][33]. - The industry faces challenges in monetizing data assets and ensuring data circulation, which are critical for maximizing returns in the evolving landscape of AI and copyright [45].