Guoxin Securities·2025-10-28 02:36Investment Rating - The report maintains an "Outperform the Market" rating for the media industry [5][40]. Core Views - The media sector has shown a 4.20% increase, outperforming the CSI 300 index but underperforming the ChiNext index [12][14]. - Key highlights include the successful launch of the game "Escape from Duckov," which sold over 1 million copies in its first week, and advancements in AI video generation technology [2][20]. - The report emphasizes the importance of monitoring Q3 performance and suggests a favorable outlook for the gaming sector and opportunities in AI applications [4][40]. Summary by Sections Industry Performance - The media industry rose by 4.20% from October 20 to October 24, outperforming the CSI 300 index (3.24%) but underperforming the ChiNext index (8.05%) [12][14]. - Notable gainers included Rongxin Culture and Youzu Network, while Visual China and Tianxia Show faced declines [12][13]. Key Developments - Significant investments in AI infrastructure were announced, including a $15 billion project by OpenAI and Oracle [17][18]. - The launch of the MoGA long video generation model by the University of Science and Technology of China and ByteDance marks a breakthrough in video generation technology [18]. - The gaming sector continues to thrive, with top mobile games in September 2025 being "Whiteout Survival" and "Kingshot" from Diandian Interactive [30][31]. Investment Recommendations - The report recommends focusing on the gaming sector's new product cycle and the potential for policy shifts in the film and television industry [4][40]. - Specific stock recommendations include Giant Network, Kaiying Network, and Jibite for gaming, and Mango Super Media and Bilibili for media content [4][40]. - The report highlights the potential for AI applications across various sectors, including marketing, short films, and education [40].