行业周报：模型和Agent交相辉映，加码布局AI应用-20251123

Investment Rating - The report maintains a "Positive" investment rating for the media industry [1] Core Insights - The report highlights the rapid advancements in AI applications, particularly in gaming, advertising, and content creation, suggesting a potential golden age for AI applications [3] - The performance of major AI models, such as Google's Gemini 3 and Alibaba's Qwen3, indicates significant improvements in capabilities, which could enhance the commercialization of AI applications [3] - The report emphasizes the importance of companies with strong cloud infrastructure and user traffic in building a closed-loop ecosystem for consumer-facing AI applications [3] Industry Data Overview - The game "Jingjie Daoming" ranks first in the iOS free game chart in mainland China, while "Jin Chan Chan Zhan" tops the iOS revenue chart [9][13] - The film "Demon Slayer: Infinity Castle Chapter 1" achieved the highest box office revenue of 2.48 billion yuan for the week [24] Industry News Summary - Google's Gemini 3 and Nano Banana Pro have shown impressive performance in AI benchmarks, indicating a competitive edge in the AI model landscape [29] - The report notes the emergence of new gaming trends, such as "Micro Horror + X," which may become a long-lasting game genre [29] - The report also mentions that domestic animation IPs are breaking crowdfunding records, reflecting a growing interest in this sector [29] Company Recommendations - For AI gaming, companies like Kying Network, Giant Network, and Tencent are recommended due to their potential benefits from the upward trend in the gaming industry [3] - In AI advertising, Huimai Technology and Inertia Media are highlighted as key players, with BlueFocus and Yidian Tianxia as beneficiaries [3] - For AI content creation, companies such as Bilibili and Kuaishou are recommended, with beneficiaries including Jiecheng Co. and Zhongwen Online [3]