传媒互联网行业周报：国务院印发《关于促进服务消费高质量发展的意见》，2024年第四批进口游戏版号发放

Investment Rating - The report maintains an "Outperform" rating for the media industry [2] Core Insights - The report emphasizes that the overall allocation opportunities in the industry have emerged positively, supported by three main reasons: gradual recovery of fundamentals, clear growth expectations in AR/VR and AIGC sectors, and policy support for the digital economy and cultural industries [5][6] Summary by Sections 1. Core Views, Investment Strategies, and Stock Portfolio - Recommended investment portfolio includes Tencent Holdings, NetEase, Meituan, Bilibili, Kuaishou, Baidu Group, and others [5] - Investment themes focus on mergers and acquisitions, gaming, AI and VR, education, short dramas, film and animation, and advertising [5] - Beneficiary stocks include major companies in both Hong Kong and A-share markets, such as Tencent, NetEase, and others [5] 1.2 Key Event Commentary - 1.2.1 The State Council issued opinions on promoting high-quality service consumption, outlining 20 key tasks across six areas, including cultural tourism and digital economy consumption [6] - 1.2.2 The National Press and Publication Administration approved 15 imported game titles in the fourth batch for 2024, totaling 75 for the year [8] 2. Market Performance Analysis and Data Tracking - The media industry index (SW) increased by 1.92% over the past week, outperforming the CSI 300 index, which decreased by 0.73% [9] - The latest PE for the media industry index is 25.54, compared to a five-year average of 35.31, indicating a potential undervaluation [15] 2.3 Key Announcements Review - Recent collaborations and developments in the media sector include partnerships aimed at enhancing technology and cultural services [18][19][20]