传媒行业周报：AI方向持续推荐，关注出版行业整体估值提升机会

Industry Investment Rating - The report recommends focusing on the valuation uplift opportunities in the publishing industry, particularly for domestic publishing companies with stable operations, strong cash reserves, and high dividend yields [2] Core Views - The report highlights the rapid progress in AI models, particularly the domestic AI company Moon Dark Side's first large model product KimiChat, which has gained user attention [1] - It suggests that 2024 will be a period of intensive landing for domestic AI application products, with companies like Palm Reading Technology integrating AI models into their main apps to enhance reading efficiency and user engagement [1] - The report identifies three key areas for investment: IP resources, film and TV content production and distribution, and TOC applications, listing specific companies in each category [1] - It emphasizes the potential for strategic transformation in the publishing industry through resource integration, particularly for state-owned publishing companies involved in educational materials [2] - The report also recommends attention to the low-valuation gaming sector, highlighting companies with strong AI gaming logic and those with comprehensive R&D and operation capabilities [2] Sector Summaries Publishing Industry - Domestic publishing companies are noted for their stable operations and high dividend yields, with potential for strategic transformation through resource integration [2] - State-owned publishing companies, particularly those involved in educational materials, are seen as having strong ties to schools and students, with opportunities for business model upgrades [2] - Specific companies to watch include those making progress in educational services and new business directions, as well as those with high dividends and low valuations [2] Gaming Sector - The report recommends focusing on companies with strong AI gaming logic and those with comprehensive R&D and operation capabilities [2] - It also highlights small and medium-sized companies in the gaming sector, as well as core blue-chip companies in the Hong Kong market [2] Internet Sector - The report provides a weekly performance overview of major Hong Kong internet companies, noting the top gainers and losers [13] - It also reviews the performance of the Haituo Media March portfolio, which showed a weekly increase of 3.29%, matching the performance of the Shenwan Media Index [9] Film and Advertising Sector - The report anticipates a strong recovery in the Chinese film box office market in 2023, driven by high-quality film releases and holiday effects [17] - It recommends attention to offline media scene leaders like Focus Media and Zhaoxin Media, as well as long video leader Mango Super Media, which has a rich reserve of top film and variety projects [17] - The report also highlights the potential for innovation in content development and application scenarios with the development of AIGC, particularly in the "AI+film" and "AI+marketing" fields [17] Mobile Gaming - The report reviews the performance of top iOS games, noting the dominance of Tencent and NetEase games in the weekly bestseller list [15][16]