SANQI HUYU(SZ:002555) HUAXI Securities·2025-07-13 13:50Investment Rating - The industry rating is "Recommended" [3] Core Insights & Investment Recommendations - Meituan's instant retail daily order volume reached 150 million, with significant growth in rider income. On July 12, the daily order volume surpassed 150 million, with an average delivery time of 34 minutes. Rider daily income increased by 111% year-on-year, with high-frequency riders earning an average of 9,793 yuan per month [2][20]. - The "reciprocal tariff" has been postponed until August 1, with the EU potentially facing a 30% tariff. This unilateral action may increase short-term trade volatility between the US and other countries, but there remains cautious optimism regarding the substantive implementation of existing trade agreements [2][20]. - The report maintains a cautious outlook on trade negotiations, emphasizing the importance of AI and domestic consumption in the current global macroeconomic context. It suggests focusing on Chinese tech leaders and highlights potential investment opportunities in Hong Kong internet leaders, the gaming industry, and the film and cultural tourism sectors [3][21]. Sub-industry Data Film Industry - The top three films by box office this week are "Jurassic World: Rebirth" with 107.08 million yuan (26.3% market share), "Malice" with 73.49 million yuan (18.0%), and "F1: Speeding" with 68.55 million yuan (16.8%) [22][24]. Gaming Industry - The top three iOS games are "Honor of Kings," "Peacekeeper Elite," and "Delta Force." The top three Android games are "Douluo Dalu: Soul Hunting World," "Sausage Party," and "Heartbeat Town" [23][25]. TV Series Industry - The top three TV series by broadcast index are "In the Name of Law" (84.1), "Book of Dreams" (83.4), and "Splendid Blossoms" (82) [26][27]. Variety and Animation - The top variety show is "Running Man Season 9" with a broadcast index of 79.3, followed by "Singer 2025" and "New Rap 2025" [28][30]. The top animation is "Cang Yuan Tu" with a viewership index of 369.3, followed by "Happy Hammer" and "Xian Ni" [29][31].