传媒：Kimi智能助手再次迭代，看好AI应用星辰大海

Investment Rating - The report maintains a positive investment suggestion for the media industry, specifically recommending stocks such as Huace Film & TV, Zhongwen Online, Wanxin Media, Southern Media, and BlueFocus [1][4]. Core Insights - Kimi Smart Assistant has achieved a significant upgrade, now supporting 2 million characters of lossless context, marking a breakthrough in long context window technology [1][2]. - The user access for Kimi has reached new heights, with 3.05 million visits in February 2024, making it the leading product among AI startups [1][2]. - The report emphasizes three core functionalities of Kimi: content retrieval, content understanding, and content generation, which are expected to drive future growth in AI applications [1][3][4]. Summary by Sections Event Overview - Kimi Smart Assistant's upgrade on March 18, 2024, supports 2 million characters of lossless context, enhancing its capabilities significantly [1][2]. User Engagement - Kimi's initial launch in October 2023 featured a 200,000-character lossless context, and the recent upgrade has increased this capability tenfold [1][2]. - The assistant's user engagement metrics show a rise in visits, with 305 million in February 2024, indicating strong market performance [1][2]. Functional Capabilities - Kimi's core functionalities include: 1. Content Retrieval: Enhanced search capabilities compared to traditional engines, providing accurate answers and efficient information collection [3]. 2. Content Understanding: Effective information aggregation and content extraction, supporting various office scenarios [3]. 3. Content Generation: Potential for generating specialized content in fields like short dramas, live e-commerce, and education, with future improvements expected [3][4]. Investment Recommendations - The report suggests investing in specific companies within the media sector, highlighting potential growth driven by advancements in AI technology [1][4].