| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600228 | *ST返利 | 4.16 | -3.70% | 7.31万 | | 3084.12万 | | 002095 | 生意宝 | 20.67 | -3.23% | 14.24万 | | 2.96 Z | | 300295 | 三六五网 | 15.21 | -2.62% | 0 8.03万 | | 1.23亿 | | 301299 | 卓创资讯 | 65.32 | -2.48% | 2.52万 | | 1.66亿 | | 603466 | 风语筑 | 10.73 | -0.83% | 24.32万 | | 2.62亿 | | 300785 | 值得买 | 33.94 | -0.82% | 6.07万 | | 2.05亿 | | 300413 | 芒果超媒 | 22.46 | -0.18% | 21.11万 | | 4.76亿 | | 603888 | 新华网 | 19.14 | -0.10% | 9.27万 | | 1.7 ...

证券之星消息，7月29日数字媒体板块较上一交易日下跌0.29%，值得买领跌。当日上证指数报收于 3609.71，上涨0.33%。深证成指报收于11289.41，上涨0.64%。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2.48亿元，游资资金净流出4292.85万元，散户资 金净流入2.91亿元。数字媒体板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | --- | --- | --- | --- | --- | --- | | 300987 | 川网传媒 | 21.65 | 1.55% | 22.47万 | 4.76 Z | | 300295 | 三六五网 | 15.62 | 1.30% | 10.10万 | 1.57亿 | | 301299 | 卓创 | 66.98 | 1.21% | 3.70万 | 2.44亿 | | 600228 | *ST返利 | 4.32 | 0.47% | 8. ...

Core Insights - The release of the new flagship model GLM-4.5 by Zhiyuan has garnered significant attention in the industry [2] - Zhidao Technology Group will be one of the first companies to integrate this model, aiming to explore innovative applications in the consumer sector [2] - The company is committed to a comprehensive AI strategy to deepen exploration and practice of AI technologies and applications for high-quality business development [2] Company Strategy - Zhidao Technology's CTO Wang Yunfeng highlighted the model's impressive capabilities, citing a 98.5% accuracy rate in user intent task planning with the GLM-Z1-Air model, enhancing consumer decision-making efficiency [2] - The focus is on balancing efficiency, cost, and effectiveness rather than merely the scale of the model, indicating that there is still significant room for improvement in practical applications [2] - The company plans to release a comprehensive AI strategy in 2024, which includes a product matrix consisting of "1 group of large models, 2 databases, 3 engines, and 4 types of applications" [2] Research and Development - Zhidao Technology has established an AI Application Research Institute, which serves as the core department for researching and applying AI technologies [2] - The goal is to discover more application scenarios and leverage AI to empower and reshape operations, transforming cutting-edge AI technologies into actual productivity [2]

Investment Rating - Investment rating for the media industry is "Positive (Maintain)" [1] Core Insights - The report emphasizes the ongoing development and commercialization of AI applications, particularly in the fields of AI companionship, creation, e-commerce, marketing, and education, suggesting continued investment in these areas [3][4] - The report highlights the success of domestic animated films and their related merchandise, particularly focusing on the IP of "The King's Avatar 2" and "Wang Wang Mountain Monster," which are expected to drive revenue growth [3][4] - The upcoming ChinaJoy 2025 event is anticipated to showcase new games and IP-related products, with a positive outlook on the gaming industry's continued growth and the potential for significant promotional activities [3][4] Industry Data Overview - "Delta Operation" ranked first on the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of July 26, 2025 [10][15] - The film "Chang'an's Lychee" achieved a weekly box office of 2.79 billion, with a cumulative box office of 4.41 billion [26] Industry News Summary - AIGC technology continues to advance, benefiting various sectors including marketing and music, with the expected launch of GPT-5 in early August [33] - The report notes the high performance of domestic animated films and the ongoing demand for related IP merchandise, indicating a robust market for these products [3][4]

Group 1 - Worth Buying Technology Group has signed a strategic cooperation agreement with SenseTime to promote the application of AI technology in the consumer sector and innovate consumption scenarios [1] - The collaboration aims to develop an AI shopping assistant named "Zhang Dama," leveraging SenseTime's cloud application capabilities and Worth Buying's high-quality consumer data [1][2] - The partnership will focus on enhancing consumer decision-making efficiency and experience through deep integration of AI with consumption scenarios, including digital marketing and AI office tools [1][2] Group 2 - Worth Buying Technology has prioritized AIGC as a key strategy in 2023 and plans to release a comprehensive AI strategy in 2024, featuring a product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 application types" [2] - The AI shopping assistant "Zhang Dama" will utilize a new generation reasoning engine to combine intent analysis with task execution for streamlined shopping management [2] - The strategic partnership is seen as a deep integration of technology and scenarios, aiming to build a more open, efficient, and sustainable "AI + consumption" ecosystem [2]

Core Insights - The 2025 World Artificial Intelligence Conference (WAIC 2025) is being held in Shanghai from July 26 to 28, where Worthbuy Technology and SenseTime have signed a strategic partnership to promote "AI + consumption" innovation [1][3]. Group 1: Strategic Partnership - Worthbuy Technology and SenseTime will collaborate to create an AI shopping assistant named "Zhang Dama," leveraging SenseTime's cloud application capabilities and Worthbuy's high-quality consumer data [3]. - The partnership aims to enhance consumer decision-making efficiency and experience by exploring deep connections between AI and consumption scenarios [3][4]. Group 2: AI Product Matrix - In 2023, Worthbuy Technology has prioritized AIGC as a key strategy, with plans to release a comprehensive AI strategy in 2024, which includes a product matrix consisting of "1 large model, 2 databases, 3 engines, and 4 application types" [3]. - The company is focusing on AIUC engine capabilities to understand online consumer content, effectively curating and summarizing real consumer experiences for decision support [3]. Group 3: Future Developments - The AI shopping assistant "Zhang Dama" will utilize a new generation of reasoning engines to combine intent analysis and task execution for one-stop shopping management [4]. - The partnership is expected to lead to deeper understanding, stronger execution, and higher security in the shopping process, with an iOS version of "Zhang Dama" set to launch soon [4].

Core Viewpoint - Dividend strategies have gained market attention since last year, characterized by their defensive attributes and high dividend yields, making them attractive to investors. However, with the rise of technology and pharmaceutical sectors in 2025, growth stocks have overshadowed dividend assets, despite institutional investments still favoring dividend-related sectors, particularly in Hong Kong stocks [1]. Group 1: Market Performance and Trends - As of July 18, 2025, the total scale of listed dividend-themed ETFs has exceeded 150 billion, with 58 out of 61 ETFs achieving positive returns this year [1]. - The Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index has shown a year-to-date increase of 17.52%, benefiting the ETFs that track it [3]. - The largest ETF by scale, the E Fund Hang Seng Dividend Low Volatility ETF, has surpassed 30 billion in assets, demonstrating significant growth since its inception in April 2024 [3]. Group 2: ETF Characteristics and Performance - The top-performing ETFs are primarily those tracking the Hang Seng Hong Kong Stock Connect High Dividend Low Volatility Index, which selects stocks based on high dividend yields and low volatility [3][4]. - The China Securities Dividend Low Volatility Index, tracked by the largest dividend ETF, has maintained a consistent performance with a year-to-date return of 8.21% [9]. - The Morgan Hong Kong Dividend Index ETF, the first cross-border strategy ETF to exceed 10 billion in scale, has a year-to-date return of 17.79% [11]. Group 3: Sector Allocation and Composition - The financial sector accounts for over 30% of the index composition, followed by energy, real estate, and industrial sectors, each exceeding 10% [4]. - The index maintains a diversified approach, with no single stock exceeding 5% weight, ensuring a balanced exposure to various companies [4]. Group 4: Future Outlook and Valuation - Despite concerns over high relative valuations, the absolute valuations of major dividend low volatility indices remain around 7 times, indicating potential for long-term investment [14]. - The current market dynamics suggest a valuation recovery rather than a bubble, with stable dividend assets expected to retain their allocation value in the long term [14].

Investment Rating - The report maintains a "Positive" investment rating for the media industry [1] Core Insights - The media industry continues to show high growth potential, particularly in gaming, offline entertainment, and AI applications. The report emphasizes the importance of investing in these sectors to capitalize on ongoing trends [4][5] Industry Data Overview - The game "Delta Force" ranks first on the iOS free chart in mainland China, while "Honor of Kings" holds the top position on the iOS revenue chart as of July 19, 2025 [12][14] - The film "Jurassic World: Rebirth" achieved the highest box office revenue for the week [12] Gaming Sector - The gaming sector is experiencing a new product cycle, with companies like Xindong and Youyi Time reporting positive earnings forecasts for H1 2025, driven by new game launches and improved profit margins [4] - The report recommends focusing on high-potential gaming companies such as Xindong, Giant Network, and Perfect World [4] Online Music Sector - The online music market has significant growth potential, especially among younger users. The report highlights the increasing user base and potential for higher ARPU compared to international platforms like Spotify [4] Concert and Live Events - The concert industry is expected to maintain high growth, with a reported 78% year-on-year increase in box office revenue for large concerts in 2024 [4] Domestic Animation - The domestic animation sector is thriving, with successful releases like "The Legend of Luo Xiaohei 2" and upcoming events such as ChinaJoy 2025 expected to drive consumer engagement and spending [4] AI Applications - Recent advancements in AI, including the release of new models and applications, are anticipated to accelerate commercialization in various sectors, including AI companionship, creation, and marketing [5] Company Performance - The report highlights key companies in the gaming and entertainment sectors, recommending specific stocks based on their performance and market position [4][5]

Core Insights - The low interest rate environment has led to a resurgence in dividend strategy wealth management products, with increasing demand from investors for such allocations [1][2][8] - Major banks like Agricultural Bank of China, Bank of China, and Huaxia Bank are actively promoting dividend strategy products through their apps and public accounts [2][8] Product Overview - Dividend strategy products typically have a foundation of over 80% fixed income assets, with up to 20% allocated to dividend assets to enhance returns [1][4] - For example, the "Agricultural Bank of China Wealth Management 'Agricultural Bank Craftsmanship·Dynamic 360-Day Wealth Management Product (Dividend Preferred)'" has over 80% in fixed income assets and less than 20% in dividend assets [1][4] - The "Bank of China Wealth Management Wise Wealth Equity Dividend Strategy 180-Day Holding Period A" includes 30% of the CSI Dividend Index, with a risk level of R4 and an annualized return of 17.92% over the past month [4][7] Performance Metrics - The Agricultural Bank's product has shown an annualized return of 4.36% over the past month, 3.34% over the past three months, and 3.08% since inception, with a performance benchmark of 2.4%-3.4% [4][7] - The Bank of China's product has a high annualized return of 17.92% over the past month and 7.92% year-to-date, with an inception-to-date annualized return of 9.28% [7][8] Market Trends - The dividend strategy is gaining traction as a preferred investment choice among banks, with many financial managers recommending these products for their stability and potential for higher returns compared to traditional fixed income products [9][10] - The current low interest rate environment has made dividend strategies attractive, as they offer a stable yield compared to government bonds [9][10] Investment Opportunities - In addition to dividend strategy products, other investment opportunities include high-dividend blue chips, state-owned enterprises, green low-carbon assets, and sectors related to AI and digital economy [12][13] - The market is seeing increased interest from insurance funds in high-dividend stocks, indicating a shift towards assets that provide stable cash returns [10][11]

Core Insights - The global gold price is surging, reaching historical peaks, which enhances the appeal of gold as a traditional safe-haven asset and drives up the value of Rolex gold watches [1] Group 1: Factors Driving Rolex Gold Watch Value - The strong foundation of Rolex's material quality contributes to its status as a "hard currency" in the watch industry, with Rolex accounting for nearly 47% of Swiss watch export profits [3] - Rolex has officially raised prices across its gold watch line in response to rising gold prices, with the Daytona model seeing a price increase of over 14%, translating to an increase of more than 50,000 yuan for models originally priced over 300,000 yuan [5] - The secondary market for Rolex gold watches is responding positively to the official price hikes, indicating a strong correlation between gold prices and the value of gold watches [7] Group 2: Strategic Shift Towards Precious Metals - At the recent Watches & Wonders exhibition, Rolex showcased a clear strategic shift towards precious metal watches, with 6 out of 7 new models made from gold, rose gold, platinum, or bi-metal, highlighting a significant focus on this segment [8] - This strategic pivot benefits Rolex by enhancing brand image and profitability while providing consumers with watches that have greater value stability and potential for appreciation, especially in turbulent times [10] Group 3: Re-evaluation of Gold Watch Value - The market perception is shifting, with certain popular steel watches now priced higher than some gold models, indicating an irrationality in the current valuation of steel versus gold watches [12][13] - As global gold prices continue to rise, the long-term investment and collectible value of precious metal watches will become more apparent, leading to a potential reversal of the trend where steel watches command higher premiums than gold watches [15]