TENCENT(HK:00700) Hua Yuan Zheng Quan·2025-03-17 06:15Investment Rating - The report maintains a "Positive" investment rating for the media and internet industry [2] Core Insights - Tencent's AI application product iteration cycle is accelerating after fully integrating DeepSeek, highlighting the importance of Tencent's top-level AI strategy shift. The first PV of the game "Whispers From The Star" has been officially announced, emphasizing the demonstration effect of leading companies in the AI + gaming paradigm exploration [2][4] - The report suggests continuous attention to leading companies like Tencent, Alibaba, and Bilibili, which exhibit resilience in their performance fundamentals and strategic value through proactive internal organizational adjustments [3][4] Summary by Sections Industry Performance - From March 10 to March 14, 2025, the Shanghai Composite Index increased by 1.39%, while the Shenzhen Component Index rose by 1.24%. The media sector ranked 14th among all industries with a growth of 1.78% [13] - In the media sub-sectors, the television broadcasting, film, and gaming sectors performed well, while publishing, advertising, and digital media lagged behind [14] Gaming Sector - The game "Whispers From The Star" by Anuttacon, which features real-time interactive gameplay, has been announced and is currently in closed testing. This game represents a new creative possibility in the AI + gaming space [4] - The report highlights the potential for innovative gameplay in simulation and nurturing games, suggesting that leading gaming companies like miHoYo should be closely monitored for their demonstration effects in AI + gaming [4] AI Applications - The report emphasizes the importance of companies that actively embrace new technologies and possess data, user, and application scenario advantages. Several companies have completed internal deployments of DeepSeek-R1, indicating a potential new paradigm in AI applications [5] Film and Television - The total box office from March 10 to March 15 reached 294 million yuan, with "Nezha: Birth of the Demon Child" leading with a box office of 156.29 million yuan, accounting for 53.1% of the total box office [38] - The report suggests that the demand for quality films is expected to adjust positively due to the supply of quality content, recommending attention to key film producers and cinema/ticketing companies [6] Market Trends - The report notes that the AI investment landscape remains active, with 17 AI-related financing events reported from March 10 to March 14, indicating strong investor interest in AI and frontier technology sectors [26]