传媒行业周报：AI端侧与应用持续更新，继续看好传媒互联网Q4行情

Investment Rating - The report maintains a positive outlook on the media and internet sector, anticipating a valuation rebound due to improved risk appetite and supportive policies [4]. Core Viewpoints - The media sector, particularly internet and gaming segments, is currently undervalued, presenting significant room for valuation recovery [4]. - AI applications, lottery, and new offline MR consumption are gaining traction, and with improved liquidity and risk appetite, these areas are expected to develop further [4]. - Regulatory encouragement for mergers and acquisitions is likely to benefit small and mid-cap companies, enabling strategic transformations [4]. Summary by Sections Media Sector Performance - The Hai Tong Media portfolio experienced a weekly decline of 9.91%, while the Shenwan Media Index fell by 8.57%, and the CSI 300 Index decreased by 3.25% [5][6]. Recommended Stocks - Suggested stocks in the Hong Kong internet sector include Tencent Holdings, Bilibili-W, and Kuaishou-W [4]. - In the gaming sector, recommended stocks are Kaixin Network, Shenzhou Taiyue, G-bits, 37 Interactive Entertainment, and Century Huatong [4]. - Marketing recommendations include Focus Media and Easy Point [4]. - For IP entertainment, stocks like Shanghai Film, Zhongwen Online, and Aofei Entertainment are highlighted [4]. - In AI applications, Kunlun Wanwei, Meitu, and Huace Film & TV are recommended [4]. - The report also emphasizes high-growth lottery stocks such as Songyang Resources [4]. - Publishing sector recommendations focus on companies actively transforming like Southern Media, Anhui New Media, and Times Publishing, along with high-dividend stocks like Zhongwen Media, Phoenix Media, and Zhongnan Media [4]. Weekly Stock Performance - The top three gainers among Hong Kong internet companies for the week (2024.10.04-2024.10.11) were Yingyu Universe (11.21%), Zulong Entertainment (9.26%), and Friendship Time (4.62%), while the top three decliners were Bilibili-W (-20.04%), Weimeng Group (-15.91%), and NetEase-S (-14.63%) [4].