中金：政策赋能破局 创新驱动长剧行业复苏

Core Viewpoint - The regulatory policy for the long drama industry is shifting from strict regulation to a balance of relaxation and in-depth development, with a more diversified and refined regulatory approach [1] Group 1: Regulatory Changes - On August 18, 2025, the National Radio and Television Administration issued new broadcasting regulations aimed at promoting innovation in content supply [1] - The company believes that as the detailed rules of the new broadcasting regulations are further implemented, the industry is expected to enter a virtuous cycle supported by multiple favorable factors [1]