Market Overview - On September 26, the digital media sector declined by 1.45%, with "Zhidingmai" leading the drop [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] Stock Performance - Notable stock performances included: - *ST Fanli: Closed at 5.75, up 2.50% with a trading volume of 91,900 shares and a turnover of 52.51 million yuan [1] - Mango Super Media: Closed at 35.38, up 0.43% with a trading volume of 267,100 shares and a turnover of 945 million yuan [1] - Worth Buying: Closed at 37.20, down 8.49% with a trading volume of 151,000 shares and a turnover of 576 million yuan [2] Capital Flow - The digital media sector experienced a net outflow of 74.40 million yuan from institutional investors, while retail investors saw a net inflow of 56.52 million yuan [2] - The capital flow for individual stocks showed: - Mango Super Media: Net inflow of 62.25 million yuan from institutional investors [3] - Worth Buying: Net outflow of 16.11 million yuan from institutional investors [3] Summary of Individual Stocks - The following stocks had significant capital movements: - *ST Fanli: Institutional net inflow of 609,600 yuan, retail net inflow of 636,900 yuan [3] - New China Net: Institutional net outflow of 12.69 million yuan, retail net inflow of 10.27 million yuan [3] - Grassroots Information: Retail net inflow of 666,020 yuan despite institutional and speculative net outflows [3]

本报讯(记者袁传玺)天眼查App显示，近日，湖南芒果创展科技有限公司成立，法定代表人为成浩，注 册资本8000万元，经营范围包括网络文化经营、互联网信息服务、在线数据处理与交易处理业务等。股 东信息显示，该公司由长沙马栏山投资开发建设有限公司、芒果超媒（300413）、芒果传媒有限公司、 中广天择传媒股份有限公司共同持股。 ...

Core Insights - The AI corpus concept index rose by 1.09%, ranking 9th among concept sectors, with 30 stocks increasing in value, led by Mango Super Media, Kunlun Wanwei, and Yanshan Technology, which saw gains of 8.47%, 7.40%, and 5.67% respectively [1] - The AI corpus sector experienced a net inflow of 239 million yuan from main funds, with 24 stocks receiving net inflows, and 7 stocks exceeding 30 million yuan in net inflow, with Yanshan Technology leading at 258 million yuan [1][2] Sector Performance - The top-performing concept sectors included China AI 50 with a 2.36% increase, while the South Korea-China Free Trade Zone saw a decline of 1.87% [1] - Other notable sectors with positive performance included controllable nuclear fusion (1.39%), Kuaishou concept (1.36%), and copper cable high-speed connection (1.26%) [1] Fund Flow Analysis - The stocks with the highest net inflow ratios included Century Tianhong (11.08%), Tuolisi (8.91%), and Haitan Ruisheng (8.51%) [2] - Yanshan Technology had a trading volume of 25.79 million yuan and a net inflow ratio of 4.19%, while Chinese Online and Tuolisi followed with net inflow ratios of 7.79% and 8.91% respectively [2][3] Stock Performance - The top gainers in the AI corpus sector included Yanshan Technology (5.67%), Chinese Online (4.11%), and Tuolisi (4.75%) [2] - Conversely, the stocks with the largest declines included Kaipu Cloud (-5.71%), Jiadu Technology (-2.20%), and Shenzhen Ruijie (-2.12%) [1][3]

Group 1 - The mobile gaming sector saw an increase of 1.15%, ranking 6th among concept sectors, with 38 stocks rising, including ST Huatuo which hit the daily limit, and Mango Super Media, Kunlun Wanwei, and Ice River Network showing significant gains of 8.47%, 7.40%, and 6.92% respectively [1][2] - The mobile gaming sector attracted a net inflow of 0.54 billion yuan from major funds, with 25 stocks receiving net inflows, and 5 stocks exceeding 0.1 billion yuan in net inflow, led by Giant Network with 1.48 billion yuan [2][3] - The top stocks by net inflow ratio included Xunyou Technology, Shunwang Technology, and Dihun Network, with net inflow ratios of 10.53%, 8.51%, and 8.31% respectively [3][4] Group 2 - The top gainers in the mobile gaming sector included Giant Network, ST Huatuo, and Xinghui Entertainment, with daily price increases of 1.29%, 5.02%, and 5.08% respectively [3][4] - The overall market performance showed a mixed trend, with the Chinese AI sector leading with a 2.36% increase, while the South Korea-China Free Trade Zone concept fell by 1.87% [2] - The trading volume and turnover rates for key stocks in the mobile gaming sector indicated active trading, with notable turnover rates for stocks like Xinghui Entertainment at 21.40% [3][4]

证券之星消息，9月25日数字媒体板块较上一交易日上涨2.99%，芒果超媒领涨。当日上证指数报收于 3853.3，下跌0.01%。深证成指报收于13445.9，上涨0.67%。数字媒体板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300413 | 芒果超媒 | 35.23 | 8.47% | 39.19万 | 13.40 乙 | | 300785 | 值得买 | 40.65 | 5.23% | 17.99万 | 7.26亿 | | 603533 | 拿阅科技 | 19.90 | 2.47% | 11.87万 | 2.36亿 | | 603466 | 风语筑 | 9.86 | 1.96% | 19.23万 | 1.91亿 | | 002095 | 生意宝 | 19.80 | 1.12% | 5.93万 | 1.17亿 | | 000681 | 视觉中国 | 20.40 | 0.99% | 25.15万 | 5.15亿 | | 603888 | 新华网 | 19.68 | 0. ...

Group 1 - Hunan Mango Chuangzhan Technology Co., Ltd. was recently established with a registered capital of 80 million RMB [1] - The company is co-owned by Changsha Malanshan Investment Development Co., Ltd., Mango Super Media, Mango Media Co., Ltd., and Zhongguang Tianze Media Co., Ltd. [1] - The business scope includes online cultural operations, internet information services, and online data processing and transaction processing [1] Group 2 - The company was registered on September 23, 2025, and is located in Changsha, Hunan Province [2] - The shareholders hold the following stakes: 37.5% by Changsha Malanshan Investment Development Co., Ltd., 37% by Mango Super Media, 14% by Mango Media Co., Ltd., and 11.5% by Zhongguang Tianze Media Co., Ltd. [2] - The company is classified under the entertainment industry and operates as a limited liability company [2]

Group 1 - Hunan Mango Chuangzhan Technology Co., Ltd. was established on September 23, with a registered capital of 80 million RMB [1] - The legal representative of the company is Cheng Hao, and its business scope includes online cultural operations, internet information services, and online data processing and transaction processing [1] - The shareholders of the company include Changsha Malanshan Investment Development Co., Ltd., Mango Super Media, Mango Media Co., Ltd., and Zhongguang Tianze Media Co., Ltd. [1]

Investment Rating - The report maintains an "Outperform the Market" rating for the media industry [5][41]. Core Views - The media sector has shown a slight increase of 0.38% this week, outperforming the CSI 300 index which decreased by 1.01%, but underperforming the ChiNext index which increased by 1.22% [1][12]. - Key highlights include the rapid advancement of domestic 3D models and AI lightweight models, with the film "731" achieving a box office of nearly 1 billion yuan in its first three days [2][3]. - The report emphasizes the potential for growth in the gaming sector, advertising media, and film industries, suggesting a focus on individual stock opportunities [3][41]. Summary by Sections Industry Performance - The media industry rose by 0.38% from September 15 to September 19, outperforming the CSI 300 index but underperforming the ChiNext index [1][12]. - Notable gainers included Jishi Media, Guomai Culture, and Liou Co., while significant losers included Happiness Blue Sea and ST Huayang [1][12]. Key Developments - Tencent launched the Mixed Yuan 3D 3.0 model, enhancing modeling precision and production efficiency [2][16]. - Baidu's new model ERNIE-4.5-21B-A3B-Thinking topped the Hugging Face leaderboard, indicating strong performance in AI applications [2][17]. - The film "731" grossed approximately 1.065 billion yuan, accounting for 87.9% of the total box office for the week [3][19]. Market Data - The total box office for the week was 1.212 billion yuan, with "731" leading at 1.065 billion yuan [3][19]. - The report tracks the performance of various media segments, including films, TV shows, and games, highlighting the ongoing trends and audience engagement [24][25][29]. Investment Recommendations - The report suggests a continued positive outlook for the gaming sector and the potential recovery of the film industry, recommending stocks such as Kaiying Network and Jibite [3][41]. - It also highlights the importance of AI applications across various sectors, including marketing and entertainment, as key areas for investment [41][41].

Market Overview - On September 24, the digital media sector rose by 0.1% compared to the previous trading day, with Fantawild leading the gains [1] - The Shanghai Composite Index closed at 3853.64, up 0.83%, while the Shenzhen Component Index closed at 13356.14, up 1.8% [1] Stock Performance - Key stocks in the digital media sector showed the following performance: - Fantawild (301313) closed at 25.34, up 3.43% with a trading volume of 25,400 lots and a turnover of 63.22 million yuan [1] - Visual China (000681) closed at 20.21, up 3.16% with a trading volume of 197,600 lots and a turnover of 394 million yuan [1] - Mango TV (300413) closed at 32.48, up 2.30% with a trading volume of 179,200 lots and a turnover of 578 million yuan [1] - Other notable stocks include: - Business Treasure (002095) at 19.58, up 2.30% [1] - People's Daily Online (603000) at 19.77, up 2.07% [1] Capital Flow - The digital media sector experienced a net outflow of 24.78 million yuan from institutional funds and 30.54 million yuan from speculative funds, while retail investors saw a net inflow of 55.32 million yuan [2] - Detailed capital flow for key stocks includes: - Visual China had a net inflow of 31.46 million yuan from institutional funds but a net outflow of 30.59 million yuan from speculative funds [3] - Mango TV saw a net inflow of 10.40 million yuan from institutional funds and a net outflow of 38.51 million yuan from retail investors [3] - People's Daily Online had a slight net outflow of 0.95 million yuan from institutional funds [3]

Investment Rating - The report maintains a "Buy" rating for the media industry, indicating a positive outlook for the sector [6][9]. Core Insights - The media industry saw a weekly increase of 0.92%, ranking 8th among industries, while the Shanghai Composite Index fell by 1.30% [12][19]. - Notable performers in the media sector included Xinghui Entertainment, Perfect World, and Mango Super Media, with significant weekly gains [19]. - The report highlights the growth of AI applications, with native AI software users reaching 277 million in August 2025, and Byte's Doubao surpassing Deepseek in monthly active users [23][24]. - The gaming segment is thriving, with the game "Delta Force" achieving over 30 million daily active users and topping the iOS sales chart [27][28]. - The film industry reported a total box office of 831 million yuan for the week, with the film "731" leading the box office [32][33]. Summary by Sections Market Performance - The media industry experienced a weekly increase of 0.92%, outperforming the Shanghai Composite Index, which fell by 1.30% [12][19]. - The gaming sector saw a 3.51% increase, while advertising and publishing sectors faced declines [15]. Key Industry Data - AI applications reported a user base of 277 million, with significant growth in Tencent's products [23][24]. - The iOS game sales chart was led by "Delta Force," followed by "Honor of Kings" and "Peacekeeper Elite" [27][28]. - The total box office for the week was 831 million yuan, with "731" accounting for 69.7% of the total [32][33]. Investment Recommendations - The report expresses optimism towards AI applications and cultural exports, focusing on sub-sectors like gaming, IP, short dramas, and publishing [37]. - Specific companies highlighted for investment include Giant Network, Perfect World, and Mango Super Media [37].