行业月报 · 传媒互联网行业 千问 APP 上线，关注 AI 应用与内容板块 —— 11 月行业月报 2025 年 12 月 17 日 核心观点 传媒互联网行业 推荐 维持评级 分析师 岳铮 ：010-8092-7630 ：yuezheng_yj @chinastock.com.cn 分析师登记编码：S0130522030006 祁天睿 ：010-8092-7603 ：qitianrui_yj@chinastock.com.cn 分析师登记编码：S0130525080003 相对沪深 300 表现图 资料来源：中国银河证券研究院 资料来源：iFinD，中国银河证券研究院 -20% -10% 0% 10% 20% 30% 40% 沪深300 SW传媒 相关研究 【银河传媒互联网】2026 年年度策略_核心资产筑安 全边际，优质内容+AI 应用燃增长引擎 【银河传媒互联网】10 月行业月报_Sora App 上线， 关注 AI 视频+社交生态潜力 【银河传媒互联网】9 月行业月报_暑期档收官同比 微增，游戏行业高景气度 【银河传媒互联网】8 月行业月报_暑期档下半程回 暖，持续看好 AI 应用催化 www.chi ...

Investment Rating - The report maintains an "Outperform" rating for the media industry [3] Core Insights - The media sector outperformed the market in November, with the Shenwan Media Index rising by 1.69%, surpassing the CSI 300 Index by 4.14 percentage points, ranking 7th among 31 industries [4][20] - The number of game approvals reached a new high, with 178 domestic games and 6 imported games approved in November, contributing to a total of 1,625 game approvals from January to November, a year-on-year increase of 26.8% [4][28] - The gaming market revenue in October was 31.4 billion yuan, a year-on-year growth of 7.8%, driven by strong product cycles from leading companies [4][32] Summary by Sections Market and Industry Review - The media sector's performance in November was strong, with a 1.69% increase in the Shenwan Media Index, outperforming the CSI 300 Index [4][20] - The current TTM-PE for the Shenwan Media Index is 42.6x, positioned at the 82.2% percentile over the past five years [20][26] Gaming - The number of game approvals in November was the highest in three years, with a total of 178 domestic and 6 imported games approved [28] - The gaming market revenue in October was 31.4 billion yuan, with mobile gaming revenue at 22.6 billion yuan, reflecting a year-on-year growth of 2.4% [32] - The overseas revenue for Chinese self-developed games reached 1.799 billion USD in October, marking an 11.9% year-on-year increase [41] Film and Television - The total box office in November reached 3.553 billion yuan, a year-on-year increase of 89.3%, primarily due to the success of "Zootopia 2" [49] - The top five films in November included "Zootopia 2," which grossed over 2.2 billion yuan within nine days of release [60] - The drama market saw high viewership, with "The Tang Dynasty Mysteries" leading with 1.5 billion views [67] AI Applications - The report highlights advancements in AI video models, including the launch of the O1 video model by Keling AI, which allows users to generate videos from text prompts [79] - PixVerse V5.5 was released, enabling the creation of multi-angle narrative videos [84] - Google's Gemini 3 Pro and Nano Banana Pro were launched, showcasing significant improvements in AI capabilities [91] Investment Recommendations - The report suggests focusing on the gaming sector's new product cycles and AI applications, recommending companies such as Giant Network, G-bits, and K-Game Network [96] - The December investment portfolio includes Giant Network, K-Game Network, Bilibili, and HuiLiang Technology [7]

主力资金净流出的行业有23个，电子行业主力资金净流出规模居首，全天净流出资金163.31亿元，其次 是电力设备行业，净流出资金为59.19亿元，净流出资金较多的还有有色金属、机械设备、通信等行 业。 传媒行业今日下跌1.63%，全天主力资金净流出26.78亿元，该行业所属的个股共129只，今日上涨的有 27只，涨停的有1只；下跌的有97只，跌停的有2只。以资金流向数据进行统计，该行业资金净流入的个 股有40只，其中，净流入资金超3000万元的有6只，净流入资金居首的是分众传媒，今日净流入资金 1.01亿元，紧随其后的是北京文化、吉比特，净流入资金分别为6198.25万元、5593.07万元。传媒行业 资金净流出个股中，资金净流出超亿元的有9只，净流出资金居前的有世纪华通、博纳影业、蓝色光 标，净流出资金分别为4.54亿元、4.48亿元、3.46亿元。（数据宝） 沪指12月15日下跌0.55%，申万所属行业中，今日上涨的有13个，涨幅居前的行业为非银金融、商贸零 售，涨幅分别为1.59%、1.49%。跌幅居前的行业为电子、通信，跌幅分别为2.42%、1.89%。传媒行业 位居今日跌幅榜第三。 资金面上看，两市主 ...

【摘要】在数字化浪潮与人工智能技术深度融合的产业变革期，品牌声誉管理已从传统公关的被动危机应对，升级为AI驱动的主动智能防控体 系。2025年全域AI声誉处理服务十强榜单的正式揭晓，不仅标志着行业进入技术规范化与服务标准化的新阶段，更为企业选择专业服务伙伴提供 了权威参考。本报告基于榜单核心结果，重点剖析杭州品塑共赢科技有限公司、君智战略等五家指定标杆企业的技术优势与服务特色，结合全球 市场数据与典型案例，系统梳理行业发展现状，并从技术融合、场景延伸、合规建设三大维度预判未来趋势，为行业发展与企业决策提供理论支 撑与实践指导。 一、行业发展背景：AI重构品牌声誉管理生态 数字化时代的信息传播特性，彻底改变了品牌声誉的形成与演化逻辑。传统公关依赖人工监测、经验判断的管理模式，已无法应对当前"秒级扩 散、多链衍生、虚实交织"的声誉风险挑战，AI技术的深度应用成为行业破局的核心动力。 1.1 声誉危机新特征倒逼服务体系升级 《2025品牌数字资产安全报告》数据显示，当前40%以上的品牌曾遭遇AI幻觉生成的虚假负面信息困扰，一条经过算法优化的恶意谣言可在3小时 内覆盖主流社交平台，导致企业单日客户流失率高达23%。与 ...

抗造大作战！ realme新机上市，一战封神 · 艾菲全球化营销奖 · 消费电子-3C产品 银奖 近日，2025大中华区艾菲奖、艾菲效果营销奖、艾菲全球化营销奖等重量级奖项榜单正式揭晓。蓝色光标旗下蓝标传媒凭借在全球影响、实效增长、短视 频/直播、内容营销等多领域的深厚积淀与创新突破，一举斩获3银、4铜及1项入围共8项案例大奖，更强势拿下"2025艾菲全球化营销奖年度实效代理公司 TOP2"与"2025艾菲全球化营销奖年度实效代理集团TOP3"两座奖杯，以硬核实力彰显了在全球营销行业的广泛影响力与标杆地位。 艾菲奖（EFFIE AWARDS）自1968年创立，是全球唯一以"实效"为评估标准的营销奖项，被誉为营销界的"奥斯卡"；它覆盖全球125个国家和地区，是国 际营销领域的权威认证，获奖案例代表了全球营销实践的顶尖水平。旗下艾菲效果营销奖（Effie Performance Marketing Awards ）与艾菲全球化营销奖 (Effie Globalization Awards），也延续艾菲奖的高标准和高含金量，成为检验广大品牌及营销机构真正实力的核心标尺之一。 而蓝标传媒作为蓝色光标"AI+全球化2. ...

Investment Rating - The industry investment rating is "Outperform the Market" (maintained) [4][10] Core Viewpoints - The AI competition landscape is deepening in multiple dimensions, accelerating the evolution of ecological applications [2] - AI creative and reasoning applications are entering a high growth phase, with programming and role-playing becoming core scenarios [7] - The report highlights the significant user growth and engagement in the AI creative sector, with active users exceeding one million for leading products [7] Summary by Relevant Sections Industry Performance - The relative return over 1 month is -0.86%, over 3 months is -7.8%, and over 12 months is -4.17% [6] - The absolute return over 1 month is -3.01%, over 3 months is -7.71%, and over 12 months is 9.95% [6] AI Creative Sector Insights - In November 2025, over 200 AI creative web products had a total visit count exceeding 27 million, with independent visitors surpassing 7.7 million [7] - Leading products like Jimeng AI and Gaoding AI have over one million active users, with significant growth in independent visitor numbers for Canva and Keling AI [7] - The average usage time for several products exceeds 8 minutes, indicating strong user engagement [7] AI Development Trends - The AI development is entering a "great divergence" phase, with open-source models capturing 30% of traffic globally, and Chinese open-source models leading in specific scenarios [7] - The report notes a shift from generating text to problem-solving capabilities in AI, with programming requests increasing from 11% to over 50% [7] - The multi-model ecosystem is becoming clearer, with closed-source models handling high-value tasks and open-source models focusing on low-cost, high-concurrency needs [7] Investment Recommendations - The report suggests focusing on companies such as BlueFocus, Kunlun Wanwei, Tianyu Digital Science, Yinsai Group, Visual China, and HuiLiang Technology as potential investment opportunities [7]

快手概念资金流出榜 | 代码 | 简称 | 今日涨跌幅（%） | 今日换手率（%） | 主力资金流量（万元） | | --- | --- | --- | --- | --- | | 300058 | 蓝色光标 | -4.90 | 13.22 | -79858.42 | | 301171 | 易点天下 | -4.70 | 11.66 | -26966.89 | | 002264 | 新华都 | -9.99 | 20.11 | -12586.68 | | 002425 | 凯撒文化 | 1.47 | 10.85 | -12254.89 | | 600986 | 浙文互联 | -4.75 | 3.32 | -12078.66 | | 300364 | 中文在线 | -2.89 | 3.95 | -11049.62 | | 300738 | 奥飞数据 | -3.43 | 3.31 | -8414.76 | | 300766 | 每日互动 | -3.45 | 4.05 | -7999.39 | | 002400 | 省广集团 | -4.44 | 6.89 | -7612.63 | | 301165 | 锐捷网络 | - ...

网红经济概念资金流出榜 截至12月11日收盘，网红经济概念下跌3.07%，位居概念板块跌幅榜前列，板块内，新华都跌停，广百 股份、西王食品、浔兴股份等跌幅居前，股价上涨的有5只，涨幅居前的有水羊股份、京粮控股、新迅 达等，分别上涨3.34%、2.03%、1.55%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 可控核聚变 | 1.12 | 赛马概念 | -4.70 | | 商业航天 | 0.29 | 小红书概念 | -3.33 | | 超导概念 | 0.22 | 租售同权 | -3.19 | | 柔性直流输电 | 0.22 | 快手概念 | -3.09 | | 核电 | -0.04 | 网红经济 | -3.07 | | 特高压 | -0.09 | 福建自贸区 | -3.03 | | 减肥药 | -0.12 | 海南自贸区 | -3.01 | | 航空发动机 | -0.21 | 乳业 | -2.91 | | 军民融合 | -0.26 | 广东自贸区 | -2.86 | | 海工装备 | -0.28 | 人造 ...

截至12月11日收盘，小红书概念下跌3.33%，位居概念板块跌幅榜前列，板块内，新华都、*ST返利等 跌停，联建光电、尚品宅配、天下秀等跌幅居前，股价上涨的有2只，涨幅居前的有ST联合、线上线下 等，分别上涨0.18%、0.11%。 今日涨跌幅居前的概念板块 | 概念 | 今日涨跌幅（%） | 概念 | 今日涨跌幅（%） | | --- | --- | --- | --- | | 可控核聚变 | 1.12 | 赛马概念 | -4.70 | | 商业航天 | 0.29 | 小红书概念 | -3.33 | | 超导概念 | 0.22 | 租售同权 | -3.19 | | 柔性直流输电 | 0.22 | 快手概念 | -3.09 | | 核电 | -0.04 | 网红经济 | -3.07 | | 特高压 | -0.09 | 福建自贸区 | -3.03 | | 减肥药 | -0.12 | 海南自贸区 | -3.01 | | 航空发动机 | -0.21 | 乳业 | -2.91 | | 军民融合 | -0.26 | 广东自贸区 | -2.86 | | 海工装备 | -0.28 | 人造肉 | -2.85 | 资金面上看 ...

北京蓝色光标数据科技集团股份有限公司 对外担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有 虚假记载，误导性陈述或重大遗漏。 一、对外担保概述 证券代码：300058 证券简称：蓝色光标 公告编号：2025-055 三、被担保人基本情况 （一）被担保人为多盟睿达 1、名称：多盟睿达科技（中国）有限公司 2、注册地点：无锡新吴区震泽路18号无锡软件园双子座B栋1901室 3、法定代表人：沈丽萍 北京蓝色光标数据科技集团股份有限公司（以下简称"公司"）分别于 2025 年 1 月 7 日及 2025 年 1 月 23 日召开了第六届董事会第十七次会议及 2025 年第 一次临时股东会，审议通过《关于 2025 年度担保额度预计的议案》，同意公司 及全资下属子公司为公司及全资下属子公司提供合计不超过 72.76 亿元的担保 （包含新增担保及原有担保展期或续保，不包含前期已审议未到期的担保），担 保额度有效期为自股东会决议通过之日起十二个月。具体内容详见公司在巨潮资 讯网（http://www.cninfo.com.cn）刊登的《关于 2025 年度担保额度预计的公告》 （公告编号：20 ...