传媒行业周报：CES 2025盛大开幕，“AR＋AI”应用改变移动办公范式

Investment Rating - The report maintains a "Recommend" rating for the media industry [2] Core Views - The media sector is expected to achieve a bottom reversal in the long term, driven by the deepening application of AI technology and the upgrading of consumer spending levels [40] - The report suggests focusing on three main lines in the media sector: ① valuation recovery and performance recovery in the gaming/film sector, ② high-dividend, low-valuation publishing sector, and ③ companies with AI large models or products [40] Key Highlights by Section Market Performance - The Shenwan Media Index fell by 2.46% from January 6 to January 10, 2025 [15] - Top gainers in the media sector include Tianyu Digital (002354 SZ), Provincial Advertising Group (002400 SZ), and Tangde Film (300426 SZ) [15] - Top decliners include Zitian Technology (300280 SZ), Jinyi Film (002905 SZ), and Shandong Publishing (601019 SH) [15] Industry News - CES 2025, held in Las Vegas from January 7 to 10, attracted over 4,500 companies from more than 160 countries, with 40% of exhibitors coming from outside the US [4][20][21] - The 2024 Guangdong Game Industry Annual Meeting, themed "Towards the New, Infinite Future," highlighted the integration of technology and culture in the gaming industry [23] - Hunan Broadcasting and Television Group signed a strategic cooperation agreement with Zhangjiajie Tourism Group to enhance tourism competitiveness through resource integration and technological empowerment [19] Company Announcements - Kingnet Network (002517 SZ) changed the purpose of its share repurchase plan to cancel shares and reduce registered capital [26] - Tom Cat (300459 SZ) extended its mutual guarantee relationship with Zhejiang Times Jintai Environmental Technology [26] - BlueFocus (300058 SZ) announced plans to provide guarantees for its subsidiaries' advertising business, with a total guarantee amount not exceeding 7.276 billion yuan [29] Weekly Insights - INAIR AI Space Computer, showcased at CES 2025, integrates AR and AI technologies to revolutionize mobile office and entertainment experiences [30][32][35][37] - The INAIR AI Space Computer features a 134-inch virtual screen, AI-driven computing, and innovative input methods, offering a new paradigm for mobile office work [30][32][35][37] Investment Recommendations - The report recommends focusing on gaming/film companies like 37 Interactive Entertainment (002555 SZ), China Film (600977 SH), and Wanda Film (002739 SZ) [40] - High-dividend, low-valuation publishing companies such as Chinese Media (600373 SH) and Phoenix Publishing (601928 SH) are also highlighted [40] - Companies with AI large models or products are identified as key investment opportunities [40]