Guoxin Securities·2025-12-22 07:34Investment Rating - The report maintains an "Outperform" rating for the media and internet industry [5][4][35]. Core Insights - The media industry has shown a weekly increase of 0.54%, outperforming both the CSI 300 index (0.35%) and the ChiNext index (-1.31%) during the week of December 15-21, 2025 [11][12]. - Key performers in the industry include Guangxi Radio and Television, Sanwei Communication, Perfect World, and 37 Interactive Entertainment, while notable decliners include Bona Film Group, ST Fanli, and CTV Media [11][12]. - The release of "Avatar 3" has significantly boosted box office revenues, contributing to a total of 7.06 billion yuan in film box office for the week, with "Avatar 3" alone accounting for 3.81 billion yuan (53.9% of the total) [18][20]. Summary by Sections Industry Performance - The media sector's performance ranked 16th among all sectors for the week, with a notable increase in stock prices for several companies [11][12][13]. Key Developments - ByteDance launched the Doubao model 1.8 and Seedance 1.5 Pro, enhancing capabilities for audio-visual content generation [2][15]. - Tencent introduced the Mix Yuan video model 1.5, marking a significant advancement in real-time interactive experiences [2][16]. - OpenAI released the GPT Image 1.5 model, improving image generation and editing capabilities [2][17]. - MiniMax and Zhiyu successfully passed the Hong Kong Stock Exchange hearing, with plans to list in January 2026 [2][17]. - "Avatar 3" premiered on December 19, 2025, achieving a box office of nearly 4 billion yuan within three days [2][17]. Box Office and Content Performance - The top three films for the week were "Avatar 3" (3.81 billion yuan), "Zootopia 2" (2.42 billion yuan), and "Get Out" (460 million yuan) [18][20]. - Popular variety shows included "Now Departing Season 3" and "Running Man Season 9" [24][26]. - In the gaming sector, the top-grossing mobile games in November 2025 were "Whiteout Survival," "Kingshot," and "Gossip Harbor: Merge & Story" [27][28]. Investment Recommendations - The report suggests capitalizing on opportunities in the gaming sector, particularly with companies like Giant Network, Kyeing Network, and Jibite [4][35]. - It emphasizes the potential for growth in AI applications and the film industry, recommending platforms like Mango TV and Bilibili, as well as content producers like Light Media and Huace Film [4][35].