Core Viewpoint - The creative economy can only truly form when creators can obtain effective returns through legitimate business models, with copyright protection being the cornerstone of this commercial model in the digital economy era [2]. Group 1: Company Overview - Vobile Group, founded in 2005, recognized the significant transformation in the media industry due to the development of mobile device video capabilities, leading to challenges in copyright protection [3]. - The company developed innovative copyright protection solutions tailored for the mobile internet era, including video fingerprint technology, which effectively protects and monetizes content [3]. - Vobile Group gained industry recognition by winning the annual technology and engineering award at the 69th Emmy Awards in 2017 for its contributions to the protection of film copyright value [4]. Group 2: Financial Performance - In 2024, Vobile Group reported total revenue of HKD 2.4 billion, representing a year-on-year growth of 20.0%, and a net profit of HKD 180 million, reflecting a significant increase of 380.3% [4]. - The company's gross profit margin has consistently increased over three years, rising from 40.9% in 2022 to 43.8% in 2024 [4]. Group 3: Industry Trends and Innovations - The rise of AIGC technology presents a new opportunity for the creative industry, significantly lowering the barriers to content creation and releasing vast creative potential [6]. - Vobile Group has launched an AI strategy, including the DreamMaker platform, which combines AI video production with copyright protection and content monetization solutions [7]. - The company aims to facilitate the international expansion of Chinese culture by leveraging its technology in the creative industry [8]. Group 4: Strategic Partnerships and Initiatives - Vobile Group is collaborating with various partners to develop a comprehensive copyright protection and trading platform based on blockchain technology, enhancing the efficient trading and circulation of digital assets [9]. - The company has also engaged in deep cooperation with the Central Radio and Television Station's subsidiary to establish a copyright protection and trading platform [9].

AIGC视听产业创新中心智算"文化+科技"平台重构了影视创作生产范式。从前期剧本分镜创作阶段，AI 就能发挥强大的辅助作用，根据设定的主题和风格生成创意脚本；智能合成虚拟场景功能，让导演和美 术团队能够快速搭建出各种逼真的场景，节省大量实地取景和场景搭建成本；在后期制作环节，批量生 成特效素材更是大幅提高了制作效率，使原本复杂耗时的特效制作变得更加高效和便捷。这种全流程的 效率提升，意味着影视制作不再受限于传统模式的束缚，能够以更低的成本、更高的质量和更快的速度 产出作品。 作为中国首个基于国产算力的影视文化产业AI创新平台，北电数智与各方携手依托朝阳AIGC试听产业 创新中心将AI能力切实转化为行业生产力，并取得了阶段性的落地实践成果：如在内容生产环节，多 场景拍摄效率提升35%，虚拟场景拍摄耗时从2小时缩短至20分钟，产出3部基于AI编辑模型衍生的创新 电影等等。 对于影视视听企业而言，AIGC视听产业创新中心智算"文化+科技"平台的价值不言而喻。北电数智以产 业运营为核心，联合生态伙伴孵化行业专属模型，构建AIGC模型和视听工具一站式平台。这不仅支持 人物AI生成代理、剧情创作辅助工具等超级应用的打造， ...

Core Insights - DeepSeek has emerged as a significant player in the AI market, prompting various companies to integrate its technology to enhance their products and services [1][5][7] - The AI industry is witnessing a shift towards diversification and specialization, with DeepSeek's innovative model injecting new momentum into the sector [1][5] - Wanjun Technology is among the first companies to adopt DeepSeek's model, enhancing its product offerings and achieving significant upgrades in its AIGC technology [1][5][7] Company Strategy - Wanjun Technology has a long-standing commitment to the overseas market, having established a presence in North America, Europe, and Japan, and is now expanding into emerging markets like the Middle East and Southeast Asia [2][10][13] - The company reported a revenue of 1.44 billion yuan for 2024, with a first-quarter revenue of 380 million yuan in 2025, reflecting a year-on-year growth of 6.06% [2][16] - The company has been focusing on AI technology to enhance its product intelligence, launching the multimedia model "Tianmu" and integrating various external models to strengthen its competitive edge [8][12] Market Position and Performance - Wanjun Technology's core business in video creativity generated 961 million yuan, accounting for 67.06% of software revenue, with a total paid user growth exceeding 20% [17] - The company has seen significant growth in its drawing creativity business, with a total renewal sales increase of over 50%, and a 40% increase in revenue from its cloud document product HiPDF [17] - AI commercialization is progressing, with over 500 million calls to AI servers and AI-native application revenue reaching approximately 67 million yuan, a year-on-year increase of over 100% [17][18] Industry Trends - The AI landscape is rapidly evolving, with companies needing to adapt quickly to technological changes and market demands to maintain competitiveness [5][7] - The AI ecosystem in China is developing across three levels: infrastructure, model, and application, with DeepSeek's success contributing to the synergy among these layers [7][18] - Analysts are optimistic about Wanjun Technology's growth potential, citing its commitment to AIGC technology and product innovation as key drivers for future performance [18]

证券研究报告 | 行业周报 gszqdatemark 2025 04 27 年 月 日 板块观点与关注标的：1）资源整合预期：中视传媒、国新文化、广西广电、 唐德影视、吉视传媒、游族网络等；2）AI：荣信文化、奥飞娱乐、汤姆猫、 盛天网络、中文在线、易点天下、视觉中国、盛通股份、焦点科技、豆神教育、 世纪天鸿、佳发教育等；3）游戏：建议关注确定性强的神州泰岳、恺英网络、 巨人网络、吉比特，关注完美世界、ST 华通、冰川网络、华立科技；4）国企： 慈文传媒、皖新传媒、中文传媒、南方传媒、凯文教育、大晟文化等；5）教 育：学大教育等；6）港股：关注【阿里巴巴】【腾讯控股】【泡泡玛特】， 产业爆发在即的【阜博集团】，K12 教培龙头【新东方】及业绩弹性较大的区 域龙头【思考乐教育】【卓越教育】。 【国务院批复《加快推进服务业扩大开放综合试点工作方案》，文件提及国家 将全力推动游戏出海战略升级】近日，国务院批复《加快推进服务业扩大开放 综合试点工作方案》，明确了 155 项试点任务，其中游戏"出海"业务被重点 提及。文件提及国家将全力推动游戏出海战略升级，重点培育游戏国际化全产 业链涵盖 IP 孵化、内容研发、全球发 ...

Group 1 - The core viewpoint emphasizes the importance of internal development and innovation for enterprises, particularly in the context of private enterprises in Wuhan [2][4] - The article highlights several specialized and innovative small and medium-sized enterprises in Wuhan, showcasing their significant contributions to the local economy and their roles as leaders in their respective fields [2][4] - Yixun Beidou has developed a high-precision dual-frequency low-power module and an intelligent monitoring system for agricultural machinery, which has been recognized as a "Hubei Boutique" product [4][6] Group 2 - Yixun Beidou has been focusing on core technologies and responding to national strategies, allowing it to secure a position in strategic emerging industries [3][7] - The company has achieved significant milestones, including a 12% annual increase in R&D investment since 2013 and the launch of a 14-nanometer high-precision timing chip [7][4] - The intelligent monitoring system developed by Yixun Beidou can monitor various agricultural parameters, effectively acting as a "big manager" for farmland [6][4] Group 3 - Cuiyu Technology has transitioned from a dust suppression system provider to a smart city service integrator, leveraging AI and digital twin technology [9][10] - The company has seen a 20% year-on-year increase in contract amounts in the first quarter of the year, indicating strong growth [9] - Cuiyu Technology's solutions are now implemented in various projects, including the Wuhan Zoo, enhancing plant care through real-time monitoring [10][11] Group 4 - Shuchuan Group has developed the first large model in the publishing industry, BOOKSGPT, which enhances reader interaction and reduces content production costs [13][16] - The company has transformed over 1.2 million book varieties, generating over 24 billion yuan in added value for the publishing industry [18] - The AI editing studio at Shuchuan Group employs digital staff to assist in various publishing processes, showcasing the integration of AI in traditional industries [17][18] Group 5 - Enbeisi Technology has innovated by combining lighting and display technologies, creating immersive visual effects for urban landscapes [19][22] - The company has established a strong foothold in the market by developing unique technologies and expanding into international markets [23][22] - Enbeisi's projects have significantly enhanced the nighttime aesthetics of various buildings in Wuhan, demonstrating the potential for artistic and intelligent lighting solutions [22][23]

编辑部 整理自 凹非寺 量子位 | 公众号 QbitAI 今年是AI应用创业最好的时期。 在第三届AIGC产业峰会上，不到2年时间在AI PPT赛道做到NO.1的赵充如是说。 原因有三： 1）DeepSeek带动了整个AI应用市场的大盘，整体渗透率不止一倍大幅提升； 2）所有应用的范式都在发生切换，大量重新定义产品的机会涌现； 3）DeepSeek的出现让成本又降低了大约10倍。 为了完整体现赵充的思考，在不改变原意的基础上，量子位对演讲内容进行了编辑整理，希望能给你带来更多启发。 中国AIGC产业峰会是由量子位主办的AI领域前沿峰会，20余位产业代表与会讨论。线下参会观众超千人，线上直播观众320万+，累计曝光 2000万+。 话题要点 以下为赵充演讲全文： 赵充是 像素绽放PixelBloom(AiPPT.com) CEO ，旗下产品AiPPT.com自2023年8月上线以来，已经积累 2000多万用户，是大模型趋势中 表现最亮眼的AI产品之一。 AiPPT.cn诞生于内部赛马 他表示，中国AI应用正在走向全球，成为"世界工厂"，这是一个非常重要的趋势。明年可能有更多中国AI应用走向世界。 谢谢大家，很高 ...

Core Viewpoint - AIGC software company Wanjing Technology (300624.SZ) reported a revenue of 1.44 billion yuan for 2024, focusing on digital creative software and embracing AIGC technology to enhance product quality and explore external collaboration opportunities [1] Group 1: Financial Performance - The company achieved a total revenue of 1.44 billion yuan in 2024, with a core business revenue from video creativity reaching 961 million yuan, accounting for 67.06% of software revenue [2] - The company reported a year-on-year revenue growth of 6.06% in Q1 2025, with a revenue of 380 million yuan [5] - AI-native application revenue for 2024 was approximately 67 million yuan, showing a year-on-year growth of over 100% [2] Group 2: Research and Development - R&D personnel accounted for about 54% of the workforce, with R&D expenses totaling 442 million yuan, representing a R&D expense ratio of 30.73% [1] - The company developed a new LLM-based Agent architecture and launched the first domestic audio and video multimedia large model, "Tianmu" [1] Group 3: Product Innovation and Market Position - The company is transitioning from traditional professional tools to AI innovation tools, with a focus on AI integration across its entire product line [2] - The upgraded Wondershare Filmora V14 saw significant user growth, with mobile product monthly active users increasing by approximately 90% [2] - The company’s AI functionality usage surged, with over 500 million AI server calls and more than 14 million AI material exports, a year-on-year increase of over 700% [2] Group 4: Market Trends and Strategic Positioning - The global creator economy is projected to reach 143 billion USD in 2024, with expectations to grow to 1,487 billion USD by 2034 [4] - Wanjing Technology aims to establish an "open independent third-party AI application product matrix" to enhance business decision-making and product quality [4] - The company is actively participating in global industry events to strengthen its market presence and promote its products [3]

原标题：第十五届北影节AIGC单元荣誉盛典举行 可灵AI支持多部作品获奖 4月25日，第十五届北京国际电影节AIGC单元开幕式、AI论坛及荣誉盛典在中国传媒大学举行。由 快手可灵AI提供深度技术支持的作品《愤怒把一个男人捣碎成很多男孩》荣获社会组最佳影片，由快 手星芒短剧与可灵AI联合出品、异类Outliers团队制作的《新世界加载中》也斩获社会组的一项最佳技 术奖及两项优秀奖。 本届北影节AIGC单元举办之时，全球范围内AI创作工具正普及应用，掀起全民化创作浪潮。以可 灵AI 2.0为代表的视觉生成大模型，正从创作辅助工具向视觉行业基建转变。在此背景下，本届AIGC单 元收到来自中、美、德、法等33个国家与地区的1502部参赛作品，相较去年增长两倍多。今年参赛作品 体裁丰富，涵盖纪实、科幻、动画、实验影像等，体现了不同文化背景创作者运用AI技术在叙事和美 学方面的探索。 作为本届AIGC单元的"独家技术合作伙伴"，可灵AI为全球AIGC创作者提供了深度技术支持。多个 奖项的获奖作品，如社会组最佳影片《愤怒把一个男人捣碎成很多男孩》、最佳技术《马丁症》、最佳 创意《回声》及高校组最佳动画《金鱼，回到海的尽头》 ...

漫步在桃蔓里社区内，16幢红白相间的独栋SOHO建筑十分吸睛。这些"盲盒"被分为"盒作区""盒适 区""盒奏区"，目前已完成6幢出租，涵盖文化创意企业、休闲文娱、咖啡餐饮等丰富业态。 当天，位于桃蔓里社区的方寸山当代艺术中心也正式开馆，"山承在地人文，盒纳无限可能"——山 盒国际公共艺术季开幕。方寸山当代艺术中心，也是桃蔓里社区的"盒芯"，在已故雕塑艺术家余积勇先 生工作室基础上改造建成。外形宛若一件巨型雕塑作品，钢结构穹顶交织着不规则玻璃切面，吸引了不 少观众驻足打卡。 据介绍，此次山盒国际公共艺术季，吸纳了66位国内外的先锋当代艺术家的百余件作品参展，将持 续三个月（4月26日至7月27日）。从国际著名当代艺术家刘永刚的传统公共雕塑作品及其材质解构，到 李宇辰等新生代青年艺术家和创作团队对于AIGC数据景观以及MR虚实沉浸体验的打造，这些作品不仅 展现了不同代际艺术家的创作实践，更通过艺术对话，展现传统与现代、自然与科技的张力。 记者 周楠 昨天，上海首个"盲盒主题"创意艺术社区，坐落于普陀区桃浦镇的桃蔓里正式开启。社区内部包含 了16幢独栋SOHO商铺和占地2000平方米的方寸山当代艺术中心，有效填补了 ...

Investment Rating - The report maintains a "Buy" rating for the company [5][7]. Core Insights - The company achieved a revenue of 6.452 billion yuan in 2024, representing a year-on-year growth of 8.22%, and a net profit attributable to shareholders of 1.428 billion yuan, up 60.92% [1]. - In Q1 2025, the company reported a revenue of 1.323 billion yuan, a decline of 11.07% year-on-year, and a net profit of 239 million yuan, down 19.09% [1]. - The company plans to distribute a cash dividend of 1 yuan per 10 shares for 2024 [1]. Financial Performance - The gross profit margin for 2024 decreased by 1.69 percentage points to 61.04%, while the sales expense ratio decreased by 9.06 percentage points to 15.60% [2]. - In Q1 2025, the gross profit margin improved by 2.37 percentage points to 61.30% compared to the previous quarter [2]. - The company’s game business revenue grew by 3.66% to 4.662 billion yuan in 2024, with overseas revenue increasing by 12.84% to 4.906 billion yuan [3]. Product Development and Innovation - The company launched two new games, "Stellar Sanctuary" and "Next Agers," in overseas markets at the end of 2024, which are currently in the commercialization testing phase [3]. - The company is focusing on AI technology applications across various business areas, having applied for 367 patents in the AI field, with 208 patents granted [4]. Profit Forecast - The company is expected to achieve net profits of 1.451 billion yuan, 1.681 billion yuan, and 1.888 billion yuan for 2025, 2026, and 2027 respectively, with corresponding P/E ratios of 16, 13, and 12 [5][6].