Ge Long Hui·2025-12-04 07:40Core Viewpoint - The collaboration between Kaiying Network's subsidiary Hangzhou Jiyi Artificial Intelligence Technology Co., Ltd. and Beijing Lingyi Wanshi Technology Co., Ltd. aims to integrate AI technology into the gaming industry, focusing on the development of large models for gaming applications [1] Group 1: Partnership and Development - The partnership will leverage Kaiying Network's extensive experience in the gaming sector and Lingyi Wanshi's AI technology advantages to promote deep integration of "gaming + AI" [1] - The first global 3D AI intelligent companion application, EVE, is planned to be launched in Q1 2026 [1] Group 2: Product Launches - The AI toy "Warm Heart Valley Dream Journey," featuring emotion recognition, body interaction, and intelligent communication functions, will start pre-sales on December 8 at 8 PM [1] Group 3: Financial Performance - In Q3 2025, the company's profitability improved due to high growth in revenue from high-margin businesses, cost optimization, and government subsidies [1] - The company has a rich reserve of new games and is focusing on mature IPs, with significant revenue growth from the Legend Box, further consolidating the Legend ecosystem's traffic [1] Group 4: Investment Rating - The report initiates coverage with a "Buy" rating for the company [1]