近日， 分众传媒 董事长江南春在一场商业论坛上系统阐述了公司的解题思路：通过深度的数字化转 型，推动自身从具备"高触达、高关注、高频次、高完播"优势的传统户外媒体，演进为"可精准、可归 因、可互动、可优化"的智能化品牌增长平台，以期在不确定的市场中为品牌提供确定性的增长助力。 经科学的权重分析，看过分众广告与没看过的人群相比，O人群（从未关联品牌人群）购买转化率提升 70%，A人群提升40%，I人群提升30%，P人群复购贡献率约10%（贡献率由看过与没看过广告人群的转 化差值决定）。据此计算，ROI达到1:6.4。 "品牌广告绝非一次性投放，而是数字资产的积累。"江南春强调，一部分人直接转化，另一部分人形成 蓄水，后续通过运营或追投可继续转化，整个AIPL人群流转路径清晰可见，实现了可归因分析。 数字化内核：从"广而告之"到"精准匹配"的升维 "如今，分众已经从原来需要插卡投放的传统媒体，升级为5分钟就能完成投放、即时推送的 互联网 媒 体；从只能整体引爆，升级为可精准切片分发、数据可回流的智能媒体。"江南春介绍。 通过与 阿里云 数据中台的深度融合，分众实现了人群画像的精准筛选与定向投放。品牌方可以输入诸 ...

分众传媒 20251211 摘要 AI 应用业绩爆发预计在 2026 年底至 2027 年，市场或提前反应，分众 传媒受益于阿里巴巴千问与电商场景深度融合，阿里是分众大股东，双 方"碰一碰"业务合作深化，业绩确定性强。 分众传媒第三季度收入 35 亿元，同比增长显著，客户数量减少但收入 增长，互联网板块投放收入 7.14 亿元，同比增长 50%，主要由阿里贡 献。第四季度预计收入 35 亿左右，同比增长约 16-17%。 消费品投放下滑，白酒转向中低端，互联网和汽车板块增长显著，金融 和旅游板块表现良好。第四季度，白酒行业在中低端家庭消费型白酒方 面取得了进展，服装和美妆护肤板块也表现亮眼。 互联网板块保持翻倍增长，得益于阿里"碰一碰"业务带动。汽车和金 融行业也保持稳定增长。"碰一碰"业务设备规模已达 200 万个，未来 将作为附加价值，通过刊例价涨价实现收入。 分众传媒计划 2026 年实质性涨价 9%-11%，不再扩张广告点位，提高 投放成本合理性。新潮传媒收购正等待商务部批复，预计明年 3-4 月完 成并表，优化费用管理，提高运营效率。 Q&A 近期传媒行业特别是 AI 应用端的发展情况如何？ 11 ...

近日，分众传媒董事长江南春在一场商业论坛上系统阐述了公司的解题思路：通过深度的数字化转型， 推动自身从具备"高触达、高关注、高频次、高完播"优势的传统户外媒体，演进为"可精准、可归因、 可互动、可优化"的智能化品牌增长平台，以期在不确定的市场中为品牌提供确定性的增长助力。 三重挑战与品牌心智的"确定性价值" 江南春表示，在当前市场环境中企业面临三大核心问题：第一，日常营销如何降本增效？第二，增量营 销如何推动实际增长？第三，如何实现品效协同，真正做到降本增效? 经科学的权重分析，看过分众广告与没看过的人群相比，O人群（从未关联品牌人群）购买转化率提升 70%，A人群提升40%，I人群提升30%，P人群复购贡献率约10%（贡献率由看过与没看过广告人群的转 化差值决定）。据此计算，ROI达到1:6.4。 "品牌广告绝非一次性投放，而是数字资产的积累。"江南春强调，一部分人直接转化，另一部分人形成 蓄水，后续通过运营或追投可继续转化，整个AIPL人群流转路径清晰可见，实现了可归因分析。 "可互动"与"可优化"：提升转化效率的新引擎 除了精准与归因，江南春着重介绍了分众在提升广告"互动性"与"优化效率"上的探索。公司 ...

证券日报网讯 12月11日，分众传媒在互动平台回答投资者提问时表示，一直以来，公司高度重视股东 回报，A股上市以来累计回购15.3亿元（注销14.8亿元），现金分红达326亿元，股息率处于行业前列。 未来，公司将继续夯实公司基本面，通过稳健经营与积极分红的方式回馈投资者。 （文章来源：证券日报） ...

证券日报网讯12月9日，分众传媒（002027）在互动平台回答投资者提问时表示，公司目前专注于主营 业务发展，主营业务为生活圈媒体的开发和运营，主要产品为楼宇媒体(包含电梯电视媒体和电梯海报 媒体)、影院银幕广告媒体和终端卖场媒体等，覆盖城市主流消费人群的工作场景、生活场景、娱乐场 景和消费场景，并相互整合成为生活圈媒体网络。 ...

专题：2025《中国企业家》影响力企业家年会 12月5日-7日，由《中国企业家》杂志社主办的"2025（第二十三届）《中国企业家》影响力企业家年 会"（原中国企业领袖年会）在北京举行，主题为"涌现·无限——共创智能商业新形态"。分众传媒创始 人、董事长江南春出席并演讲。 对于品牌广告在互联网时代的传播，江南春表示，在碎片化时代要敢于中心化传播，越是讲精准越要讲 共识。今天互联网好像创造了更多的精准，其实互联网的时代传播更难了。 对此，他提出三个建议。第一，要流量更要留心。现在都是流量租赁、租KOL流量、主播流量、平台 的流量，品牌要思考有没有自己的流量？他指出，"品牌是自带流量，你把心智留住了，才有持久的流 量。" 江南春认为，流量不是生意增长的根本，流量是品牌赢得人心的结果。 第二，要种草更要种树。"好像无内容不营销，今天大家都在做内容，现在是在草原上种草，种完了草 老找不到自己的草在什么地方。当草种多了，都是野草，都是杂草，还有互相种毒草的。"他感慨到， 实际上重要的是要有品牌之树，品牌核心价值深入人心。 "种一个品牌花园，有树有草才是个健康的品牌花园。" 责任编辑：李昂 专题：2025《中国企业家》影响 ...

12月5日-7日，由《中国企业家》杂志社主办的"2025（第二十三届）《中国企业家》影响力企业家年 会"（原中国企业领袖年会）在北京举行，主题为"涌现·无限——共创智能商业新形态"。分众传媒创始 人、董事长江南春出席并演讲。 品牌如何赢在中国十年的新周期？江南春认为，中国面临了三个红利。 第一，中国品牌崛起在各个行业当中，在自己的本国市场取得领先地位的红利。 第二，每个行业当中，头部聚集度越来越高，头部企业具有越来越强大的竞争力。所以，由此形成的越 来越有核心竞争力的企业红利。 专题：2025《中国企业家》影响力企业家年会 12月5日-7日，由《中国企业家》杂志社主办的"2025（第二十三届）《中国企业家》影响力企业家年 会"（原中国企业领袖年会）在北京举行，主题为"涌现·无限——共创智能商业新形态"。分众传媒创始 人、董事长江南春出席并演讲。 品牌如何赢在中国十年的新周期？江南春认为，中国面临了三个红利。 第一，中国品牌崛起在各个行业当中，在自己的本国市场取得领先地位的红利。 第二，每个行业当中，头部聚集度越来越高，头部企业具有越来越强大的竞争力。所以，由此形成的越 来越有核心竞争力的企业红利。 第三，中国 ...

Core Viewpoint - The article provides an overview of the elevator media industry in China, detailing the industry chain, key players, and their regional distribution, as well as recent investment trends among major companies. Industry Chain Overview - The elevator media industry chain in China consists of upstream hardware suppliers and property management companies, midstream media operators, and downstream clients from various industries [1][2]. Regional Distribution - Upstream representative companies are primarily located in Guangdong and Zhejiang provinces, while midstream media companies are mainly found in Guangdong, Shanghai, and Sichuan. Downstream clients are concentrated in Inner Mongolia, Guangdong, and Shanghai [4]. Key Players and Business Layout - Major companies in the elevator media sector include: - **Fenzhong Media**: Focuses on elevator TV and poster media, with projected revenue of 11.57 billion yuan in 2024, covering over 340 cities in China and regions like Hong Kong, South Korea, Thailand, and Singapore [8]. - **Xinchao Media**: Operates in over 200 cities with 700,000 smart elevator screens, reaching 45,000 communities and 180 million middle-class families [8]. - **Tiying Media**: Specializes in elevator projection media, covering over 60 cities globally with nearly 100,000 elevators [8]. - **Xiping Media**: Focuses on elevator TV media, with resources in 209 cities and 230,000 points [8]. - **Tongzhong Media**: Operates elevator poster media in over 100 cities with more than 1 million points, covering over 3,000 communities [8]. - **Chengshi Zongheng**: Focuses on elevator poster media, covering 375 cities with over 3 million media units [8]. - **Juzhong Media**: Operates in first and second-tier cities with over 400,000 points [8]. - **Aiyu Media**: Primarily covers elevator resources in Ningbo with over 14,000 points [8]. Recent Investment Trends - In 2023, major elevator media companies have been establishing subsidiaries to explore new markets and business opportunities: - **Xinchao Media**: Established Xinchao Youxuan (Chengdu) Technology Co., Ltd. in October 2024 to enhance business growth and competitiveness [10]. - **Chengshi Zongheng**: Launched Chengshi Zongheng (Fuzhou) Cultural Media Co., Ltd. in September 2023 to expand business channels [10]. - **Juzhong Media**: Set up Juzhong Fendian (Shanghai) Cultural Media Co., Ltd. in September 2023 to grow its business in Shanghai [10].

Investment Rating - The report maintains a "Recommendation" rating for the media industry, expecting the industry index to outperform the benchmark index by over 5% in the next 3-6 months [2][40]. Core Views - The media sector is anticipated to experience a rebound, particularly in gaming and AI applications, with significant growth potential in these areas. The report emphasizes the importance of both sharpness and allocation in the current market environment [3][6]. - The gaming market is highlighted as entering a favorable valuation zone, with specific companies like Giant Network and Century Huatong recommended for investment [6][16]. - The film market is recovering, with the total box office reaching approximately 437.06 billion yuan, which is about 78% of the 2019 level, indicating a strong recovery trajectory [19][20]. Market Performance Review - The media sector index fell by 3.86% last week, underperforming the CSI 300 index, which rose by 1.28%, resulting in a relative underperformance of 5.14% [9][10]. - The total market capitalization of the media sector is approximately 19,595.28 billion yuan, with a circulating market value of 17,850.96 billion yuan [3]. Gaming Market Insights - Tencent's products dominate the iOS gaming market, with titles like "Peace Elite" and "Love and Deep Space" performing strongly [16]. - Upcoming game releases include "Rust" and "PUBG: BLACK BUDGET," which are expected to generate significant interest [18]. Film Market Overview - The film "Zootopia 2" has achieved a box office of nearly 23 billion yuan within six days, with projections suggesting it could help the total annual box office exceed 500 billion yuan [27]. - The total box office for the year has reached 437.06 billion yuan, with a recovery rate of approximately 78% compared to 2019 [19][22]. Important News and Company Announcements - The establishment of the first micro-short drama export base in Shanghai marks a significant development in the media industry [27]. - Tencent's Magic Cube Studio celebrated its 15th anniversary, announcing major updates for several IP titles, indicating ongoing innovation in the gaming sector [28].

Summary of Conference Call Notes Industry and Company Overview - The focus is on the hardware and software markets in 2026, which are expected to overlap significantly, with the introduction of domestic 30 cards indicating a breakthrough in hardware bottlenecks [1][4] - Key companies mentioned include Alibaba, Tencent, Baidu, Tencent Music, Yu Wen Group, and Meitu, which are expected to leverage large model technology effectively within their ecosystems [2][10] Core Insights and Arguments - Investment should prioritize large applications that closely integrate with large models and have monetization capabilities, particularly in the digital economy sectors of advertising, e-commerce, gaming, and value-added services [1][5] - Advertising and marketing are highlighted as having greater monetization potential compared to gaming, with the marketing market nearing 10 trillion yuan, while the gaming market is estimated at 300-400 billion yuan [5] - The media industry is anticipated to enter an upward cycle in 2025 and 2026, benefiting from AI-driven new cycles, improved regulatory environments, and the emergence of blockbuster content [1][6] - Internet giants are positioned to apply large models directly in marketing and e-commerce, enhancing data value and operational efficiency [7][8] Additional Important Points - The selection logic for stocks in 2026 will shift from supply-side factors to demand-side factors, emphasizing the importance of application direction in investment choices [3] - The media sector, after a low period in 2023 and 2024, is expected to recover, although the growth may not match that of the electronics and communications sectors [6] - Focus on companies with structural advantages that can resonate with large models, such as Alibaba and Tencent, is recommended for investment in 2026 [8][10] - Focus on Focus Media due to its multiple advantages, including its connection to Alibaba, elasticity from consumer recovery, profit increases from acquisitions, and a strong market position [9]