研报掘金丨华鑫证券：维持万达电影“买入”评级，借力AI、IP、资本，持续深化娱乐空间战略

Core Viewpoint - Wanda Film is exploring AI and IP to strengthen its content and deepen its entertainment space strategy through capital investment [1] Group 1: Main Business Strategy - By 2026, Wanda Film is expected to have a rich content reserve, leveraging technology to enhance the audiovisual experience economy in cinemas [1] - The company has a robust lineup of films scheduled for release from New Year's Day to the Spring Festival and summer holidays, including titles like "Welcome to Dragon Restaurant," "Silent Awakening," "Turning Flower Bloom," "The Wandering Earth 3," "We Live in Nanjing," and "Forbidden Wilderness," as well as series like "Folding City," "Dragon Bone Burning Box," and "Unfamiliar Encounters" [1] Group 2: Strategic Partnerships and Innovations - Wanda Film is deepening strategic collaborations with IMAX and CINITY to enhance the audiovisual experience at offline media screening terminals [1] - The company is attracting users by upgrading cinemas from mere viewing venues to cultural social platforms through "film-game linkage" and "cross-industry collaborations" [1] Group 3: Market Demand and Investment Rating - As a significant component of a culturally strong nation, the demand for quality content remains resilient, and the potential for the experience economy in offline viewing is still to be explored [1] - New supply and demand dynamics are expected to support the continued strengthening of Wanda Film's main business, maintaining a "buy" investment rating [1]