Core Viewpoint - Recently, at the Yangtze River Delta International Cultural Industry Expo, the company showcased its "IP full industry chain development" strategy, highlighting its ability to create and monetize content effectively [1] Company Summary - The company's stock price increased by over 4%, currently trading at 38.06 HKD with a transaction volume of 249 million HKD [1] - The company presented popular IPs such as "Qing Yu Nian," "Quan Zhi Gao Shou," and "Gui Mi Zhi Zhu," demonstrating a complete ecosystem from content creation to commercial realization [1] - A list of the top ten popular characters, voted by 30 million participants, was unveiled, featuring both classic and emerging works [1] - The company has established a comprehensive development system covering film, animation, games, audio, and derivative products, continuously releasing the commercial value of its IPs [1] Industry Summary - The AI comic drama sector has been experiencing rapid growth, with a projected market size exceeding 20 billion RMB this year [1] - According to Citic Securities, from April to July 2025, the supply, viewership, and likes for comic dramas are expected to grow at compound monthly growth rates of 83%, 92%, and 105% respectively [1] - In the past six months, 3,000 new works have been launched, representing a 603% increase compared to the previous period [1] - Following the company's announcement to fully engage in the comic drama ecosystem, major platforms like iQIYI, Douyin, Kuaishou, and Bilibili have introduced new support plans for comic dramas, highlighting the industry's high prosperity and investment opportunities [1]