Core Points - The event titled "New Media Marketing with Douyin as an Example - Content Creation and Traffic Monetization Skills" was successfully held in Zhengzhou to foster youth innovation and entrepreneurship [1] - The event was organized by the Communist Youth League of Zhengzhou and featured a guest speaker from the Ministry of Human Resources and Social Security, highlighting the importance of training for young entrepreneurs [1] - The initiative aims to enhance youth entrepreneurship services and align projects with urban development needs, thereby injecting continuous momentum into Zhengzhou's innovative growth [1] Summary by Categories Event Overview - The event took place on November 5 and was hosted in the Fuminli Street area, which serves as a significant hub for youth entrepreneurship and innovation in Zhengzhou [1] - The Fuminli area combines historical cultural elements with modern creative industries, making it an ideal location for young entrepreneurs [1] Participants and Speakers - The event featured Wang Changwei, a provincial instructor for entrepreneurship training, who shared insights on new media marketing [1] - Over ten young entrepreneurs from the street participated actively in the discussions and learning sessions [1] Future Plans - The Communist Youth League of Zhengzhou plans to continue enhancing youth entrepreneurship services through regular training sessions and policy support [1] - The focus will be on aligning youth projects with the city's development needs to foster sustainable growth and innovation [1]

Core Insights - The "2025 KOX Matrix Management White Paper" focuses on brand growth through a comprehensive marketing strategy, addressing challenges such as peak traffic dividends, scarce user attention, and rising trust costs [1][8] - The KOX Matrix solution consists of six components: KOB (Brand Official Matrix), KOL (Key Opinion Leader Matrix), KOC (Super User Matrix), KOD (Sales Store Matrix), KOS (Sales Employee Matrix), and KOE (Brand Employee Matrix), all working together to create a holistic marketing ecosystem [1][9] Group 1: Marketing Challenges - Brands face significant pressure to control costs and improve efficiency, with 75% of advertisers not planning to increase marketing budgets in 2024, and 54% expecting to reduce investments in 2025 [30][31] - The reliance on top-tier KOLs is decreasing, with a 9.8% increase in the number of campaigns involving lower-tier KOLs, while spending on top-tier KOLs has dropped by 6.5% [33][34] - Brands are struggling with a lack of diverse marketing strategies, leading to over-reliance on paid marketing, which is becoming increasingly costly and less effective [36][40] Group 2: KOX Matrix Strategy - The KOX Matrix aims to create a systematic approach to integrate various marketing roles and enhance collaboration across departments, addressing the challenges of fragmented strategies and organizational silos [49][51] - Each component of the KOX Matrix serves a specific purpose: KOB establishes authority, KOL expands influence, KOC drives trust, KOD creates experiential conversion spaces, KOS builds end-user trust, and KOE enhances brand warmth [55][56] - The matrix is designed to achieve dual growth in brand awareness and sales through a clear division of roles and a closed-loop design that emphasizes both user engagement and conversion [57] Group 3: Future Directions - The white paper outlines five future development directions for the KOX Matrix, including role diversification, industry MCN transformation, digital content centralization, deep localization, and organizational restructuring [24] - The focus is on adapting to the evolving digital landscape and enhancing the effectiveness of marketing strategies through continuous research and practical application [19][24]

Group 1 - The core point of the article is the appointment of Chen Changjiong as the executive director and chairman of the board of Xiaoyu Yingtong Holdings, effective from October 13, 2025, which has attracted significant market attention and aligns with the company's recent strong stock performance [1] Group 2 - Chen Changjiong is a prominent figure in the Chinese internet new media marketing sector, known for founding a leading MCN organization and successfully incubating multiple top IPs, creating an account matrix with over 100 million fans [1] - His team has developed the "Nine Tools," which has served over 540,000 merchants, achieving an annual GMV exceeding 10 billion RMB, showcasing the ability to deeply integrate traffic and technology [1] - Industry analysts suggest that Chen's addition brings valuable internet genes and extensive commercial resources to Xiaoyu Yingtong, indicating a potential strategic shift towards high-growth areas such as new media marketing, AIGC content generation, and SaaS services [1] - The board of Xiaoyu Yingtong expresses confidence that Chen's leadership will create new opportunities for the company and warmly welcomes his joining [1]

Core Viewpoint - Tianxiao's revenue for the year 2024 is entirely derived from the new media marketing sector, indicating a focused business model in this industry [2]. Group 1 - Tianxiao held its 15th meeting of the 11th Board of Directors on August 21, 2025, to review the semi-annual report and its summary [2]. - The company's revenue composition for the year 2024 shows that new media marketing accounts for 100% of its total revenue [2].

2024年1至12月份，天下秀的营业收入构成为：新媒体营销行业占比100.0%。 （文章来源：每日经济新闻） 天下秀（SH 600556，收盘价：5.3元）8月21日晚间发布公告称，本次计提资产减值准备金额合计 847.62万元，计入公司2025年半年度利润表，公司2025年半年度合并报表归属于母公司所有者的净利润 减少640.06万元，2025年半年度归属于母公司所有者权益减少640.06万元。该数据未经审计，对公司 2025年度的影响最终以会计师事务所年度审计确认的金额为准。 ...

Summary of Key Points Core Viewpoint The report outlines the fundraising status and actual usage of funds by Tianxiaxiu Digital Technology (Group) Co., Ltd. for the first half of 2025, highlighting the management of raised funds, changes in investment projects, and compliance with regulatory requirements. Fundraising Basic Situation - The company raised a total of RMB 2,071,879,874.54 after deducting various fees from the gross amount of RMB 2,073,699,994.66 [1] - As of June 30, 2025, the company has utilized RMB 892,246,100.00 of the raised funds, leaving a balance of RMB 1,239,435,900.00 [1] Fundraising Management Situation - The company appointed CITIC Securities as the sponsor for the 2022 convertible bond issuance, taking over from Huatai United Securities [2] - The board approved changes to the investment projects, shifting from "New Media Big Data Platform Construction" and "WEIQ New Media Marketing Cloud Platform Upgrade" to "Content Marketing Ecosystem Upgrade" and "Innovative Technology Module Upgrade" [2] Fundraising Usage and Compliance - The company has opened 13 fundraising accounts, with six accounts closed, and has adhered to regulations for the management and usage of raised funds [3] - As of June 30, 2025, the company has not engaged in any pre-investment or replacement of funds for investment projects [5] - The company temporarily used RMB 70,000,000 of idle funds to supplement working capital, with a usage period not exceeding 12 months [5] Cash Management of Idle Funds - The company has utilized idle funds for cash management, achieving a total investment income of RMB 3,647,400.00, with RMB 783,600.00 earned during the reporting period [6] - All cash management products are principal-protected, and no idle funds were used for investments in related products as of June 30, 2025 [6] Changes in Fundraising Investment Projects - The board meetings held on November 19, 2024, and December 5, 2024, approved the change in fundraising investment projects, with the sponsor agreeing to the changes [4][7] - The total amount of funds raised is RMB 207,187,990.00, with 58.10% of the funds allocated to changed projects [7]

Core Insights - The KOL industry is experiencing a multi-dimensional development trend in 2024, with significant user bases in short videos and live streaming reaching 1.04 billion and 833 million respectively, although growth rates are slowing down [1] - The number of KOLs with over 10,000 followers is nearly 15 million, with an annual growth rate of only 5%, indicating a shift towards a stock competition phase in the market [1] - Mid-tier creators (50,000 - 3 million followers) have become the main growth drivers, accounting for 66.2% of the market, while head KOLs (≥10 million followers) represent only 0.2% [1] - The content ecosystem is diversifying, with "lifestyle documentation" leading at 12.4% market share, reflecting user demand for practical and emotional value [1] - The KOL marketing landscape is shifting towards value competition, with brands focusing on practical value and emotional resonance in their campaigns [1] Market Overview - The KOL advertising market is projected to decline to 87.3 billion yuan in 2024, marking the first contraction in KOL investment [4][18] - Advertisers are increasingly diversifying their investments, with beauty and personal care sectors seeing a continuous decline, while home and decor sectors are experiencing growth [4][18] - The top five industries account for over 78% of KOL advertising spending, indicating concentrated investment in key sectors [4][18] Platform Characteristics - Major platforms are competing on decentralization and niche specialization, with Douyin focusing on head KOL conversion and maintaining balance with mid-tier creators [1] - Xiaohongshu is expanding beyond its female-centric image to include lifestyle services, while Bilibili is concentrating on mid-to-long videos and knowledge content [1] - KOLs are becoming essential in brand marketing, with a focus on driving user engagement and sales conversion through diverse content formats [1][18] Future Outlook - The KOL marketing landscape is expected to evolve into a more integrated model, combining short-term content activation with long-term brand building [18] - Advertisers are increasingly valuing KOLs for their ability to drive direct conversion and enhance brand visibility [18] - The demand for KOLs is shifting towards those who can provide multi-faceted value, including content creativity, operational capabilities, and audience engagement [19]

Core Viewpoint - Yuanlong Yatu, a company that gained popularity for designing the "Bing Dwen Dwen" mascot, has recently announced a significant shift in its financial performance, projecting a net loss of 5 to 10 million yuan for the first half of the year, compared to a profit of 25.79 million yuan in the same period of 2024 [1][2]. Financial Performance - The company has identified a case of embezzlement by a sales employee, who allegedly forged contracts and misrepresented sales, impacting the company's revenue significantly. The estimated impact on sales revenue for the first quarter alone is approximately 29.35 million yuan [2]. - Yuanlong Yatu's revenue decreased by 18.19% year-on-year in 2023, with net profit dropping by 85.86%. The company is expected to report its first loss since going public in 2024, with a projected net profit of -184 million yuan [3][4]. Market Reaction - Following the announcement of the financial issues, Yuanlong Yatu's stock price fell to the daily limit, resulting in a market value loss of about 540 million yuan. This decline occurred after a significant increase of 123% over 45 trading days earlier in April [4]. Industry Context - The new media marketing industry is facing intensified competition, which is expected to slow down the growth of Yuanlong Yatu's related business and decrease its gross margin. The company's high-margin licensed business is also anticipated to suffer due to fewer major events in 2024 [4].

Group 1 - The Chengdu Universiade, set to open on August 7, 2025, has successfully completed the selection of licensed retail merchants, with Yuanlong Yatu's subsidiary winning the bid to manage the sale and operation of licensed merchandise at the event [1] - Yuanlong Yatu has developed over 40 licensed products for the Universiade, including blind box figurines and plush toys, and has opened more than 20 retail stores in various shopping centers and tourist attractions [1] - The most popular product is the "Fireworks Chengdu" blind box series, which creatively showcases Chengdu's culture and lifestyle through Q-version designs and hidden elements [1] Group 2 - Founded in 1998, Yuanlong Yatu is a leading company in the gift industry and new media marketing in China, focusing on IP cultural and creative business across various sectors [2] - The company has been involved in major events since the 2008 Beijing Olympics and gained recognition for its "Bing Dwen Dwen" products during the 2022 Winter Olympics [2] - In 2023, Yuanlong Yatu partnered with the Chengdu Panda Base to explore the commercial potential of popular IPs, designing consumer-friendly IP derivatives [2] Group 3 - Yuanlong Yatu collaborates with local cultural tourism sectors to develop themed IP products, such as refrigerator magnets and plush toys that reflect local cultural elements [3] - The company plans to enhance its C-end national trend IP cooperation, product development, and sales channel construction, aiming to promote urban culture and stimulate consumption [3]