Guoyuan Securities·2025-09-16 07:52Investment Rating - The report maintains a "Buy" rating for several companies in the media sector, including Giant Network, Kaiying Network, and others [4][9][6]. Core Insights - The media industry has shown strong performance with a weekly increase of 4.27%, ranking 4th among industries, while the Shanghai Composite Index rose by 1.52% [12][20]. - The gaming market remains robust, with significant revenue growth from major players like Tencent and Point Interactive, and the upcoming National Day film releases are anticipated to boost box office performance [3][4][41]. Market Performance - The media industry (Shenwan) increased by 4.27% from September 6 to September 12, 2025, outperforming the Shanghai Composite Index, which rose by 1.52% [12]. - The gaming II sector saw a rise of 6.61%, while the film industry also experienced a notable increase of 6.58% during the same period [15][12]. Key Data and Dynamics AI Applications - In August, the top five AI products by web traffic included ChatGPT and New Bing, with Deepseek leading domestic traffic at 316 million visits, despite a month-over-month decline of 8.52% [24][25]. - The domestic AI search engine Nano AI ranked second with 307 million visits, also showing a decline of 7.52% [24][25]. Gaming Data - In August, Tencent, Point Interactive, and NetEase were the top three mobile game publishers globally, with total revenues of $2.04 billion, accounting for 35.1% of the top 100 publishers' income [29][30]. - Giant Network's revenue surged by 72% due to the success of "Supernatural Action Group," which entered the top ten for global mobile game revenue [29][30]. Film Data - The total box office for the week of September 6-12 was 358 million yuan, with "Chasing the Wind" leading at 120 million yuan [41]. - Nine films have been scheduled for release during the National Day holiday, indicating a strong upcoming box office potential [41][42]. Investment Recommendations - The report highlights a positive outlook on themes such as AI applications and cultural exports, with a focus on sub-sectors like gaming, IP, short dramas, and publishing [4]. - Specific companies recommended for investment include Giant Network, Kaiying Network, and Perfect World, among others [4][9].