AI漫剧迎政策红利期，高品质内容及技术平台有望受益

Investment Rating - The industry investment rating is "Overweight (Maintain)" [2] Core Insights - The AI comic industry is entering a period of policy benefits, with high-quality content and technology platforms expected to benefit significantly [1][4] - The market for AI comics is experiencing rapid growth, with platforms like Douyin reporting over 400 million daily views for original content [4] - Regulatory changes are expected to accelerate the elimination of low-quality content, creating greater opportunities for high-quality professional creators [4] Summary by Relevant Sections Industry Overview - The total number of listed companies in the industry is 130, with a total market capitalization of 1,771.88 billion yuan and a circulating market capitalization of 1,637.98 billion yuan [2] Key Company Status - Rongxin Culture: Current stock price is 35.39 yuan, with projected EPS improving from -0.53 in 2024 to 0.71 in 2027, maintaining an "Overweight" rating [2] - Zhongwen Online: Current stock price is 28.34 yuan, with projected EPS improving from -0.33 in 2024 to 0.22 in 2027, also rated "Overweight" [2] - Yidian Tianxia: Current stock price is 43.08 yuan, with projected EPS increasing from 0.46 in 2023 to 0.85 in 2027, rated "No Coverage" [2] Market Dynamics - Major platforms are actively expanding their comic business, with iQIYI launching a dedicated comic channel and Tencent testing new comic mini-programs [4] - The introduction of new policies by the National Radio and Television Administration aims to regulate the quality of animated content, which is expected to benefit compliant and aesthetically pleasing creators [4] - The adjustment of revenue-sharing models by ByteDance platforms indicates a shift towards encouraging high-quality content production [4]