声明：本内容由AI生成，数据资料来自于交易所及第三方公开信息，仅供参考，不构成投资建议。 交易所数据显示，截至11时12分，蓝色光标涨幅为20.00%，最新价11.52元，总市值413.59亿元，封板 资金44.41亿元，成交额103.20亿元，换手率27.44%。 市场炒作聚焦于蓝色光标在AI智能体领域的业务布局，以及AI营销场景的落地进展，同时伴随AI智能 体板块的整体催化效应，叠加公司赴港上市的相关动态。 消息面上，12月30日，北京蓝色光标数据科技集团股份有限公司向港交所提交上市申请书，联席保荐人 为华泰国际、国泰君安国际、华兴资本。Meta以数十亿美元收购开发AI应用Manus的母公司蝴蝶效应。 蓝色光标推出专为营销行业打造的AI应用引擎Blue AI，孵化出多个可在实际场景落地的AI智能体，AI 驱动业务取得显著进展。 行业层面，AI营销赛道商业化落地进程加快，相关领域企业迎来发展契机。公司深耕出海跨境营销业 务，全球化布局深化，具备较强的行业竞争优势。 本文源自：市场资讯 作者：智投君 ...

文 | CTR洞察 站在2025年的终点回看，一整年市场都在矛盾之力中重新平衡。全年广告市场回归"长线价值"，消费市场也将继续寻找"高质价比的情绪满足"。"低垂的 果实"好像已被摘光，剩下的机会需要付诸极致的体验、极致的计算、极致的洗牌…… 但如果跳出矛盾的非此即彼，你也会发现——新的秩序正在建立，行业正艰难却坚定地达成一系列珍贵的共识： 共识一：K型分化，情绪精算 今天的消费者，到底是更理性了，还是更感性了？ 《2025中国购物者报告》给出的答案，可能会让人觉得"精神分裂"：他们既极其理性，又极其感性。市场正在目睹一种"双重需求"的神奇叠加。 一边是消费品以价换量，"平替"席卷市场，白牌、自有品牌不断崛起；很多曾经被故事、身份支撑的溢价，率先碎掉了滤镜；营销的标的被还原为一个基 本的商品，一个朴素的需求。 另一边却是Labubu、盲盒、IP联名大肆收割溢价。一个独居爱猫青年，每月花2000块钱买进口猫粮、智能猫砂盆，这不是消费，是情感投资。一个打工人 花99块钱抽盲盒，买的不是塑料小人儿，是拆开包装的瞬间期待。 表面看是矛盾，本质却是分化。当市场进入K型增长时代，消费者不会再用同一套坐标来理解所有产品。 但 ...

格隆汇12月29日丨云想科技(02131.HK)公告，公司是行业领先的智能化营销产业平台。集团致力于应用 创新科技能力高效链接全球企业客户与用户群体，为多元及高增长的客户群提供集移动短视频营销的内 容创作、程序化及跨平台的精准投放、实时效果跟踪及数据分析、电商服务等全产业链覆盖的一体化服 务。截至本公告发布日，尽管公司股份暂停买卖，集团各项重要业务均正常开展，日常运营未受影响。 2025年第四季度内，集团整体收入同比稳步增长，财务状况稳健。 公司股份已自2025年4月1日(星期二)上午九时正起于联交所暂停买卖，并将继续暂停，直至公司符合所 有复牌指引、补救导致其停牌的问题及完全符合上市规则，并令联交所满意为止。 ...

报告围绕 "AI 与 IP 相融共生" 核心逻辑，明确 2026 年传媒行业两大主线，核心内容如下： 行业整体景气度高企，盈利与估值有望共振。2025 年传媒行业累计上涨 24%，两轮行情分别由 AI 大模型突破与应用落地 + 业绩释放驱动。基本面表现亮 眼，2025 年前三季度行业营收同比增长 6%，归母净利润同比增长 38%，Q3 单季度净利润增速达 61%，盈利能力显著提升。细分板块中，游戏行业供需两 旺，营收与净利润同比分别增长 24% 和 89%；影视行业受益于优质 IP 内容，净利润同比增长 110%；营销行业随消费复苏与 AI 赋能，Q3 净利润同比增长 14%；出版行业凭借高股息与政策红利，保持稳健盈利。AI 技术迭代与 IP 价值深化将持续打开行业长期成长空间。 AI 成为核心增长引擎，多领域应用落地提速。海内外大厂加速大模型迭代，OpenAI、谷歌、DeepSeek 等模型在多模态、推理效率、成本控制上持续突破， 为应用生态奠定基础。AI + 游戏领域，版号宽松带动新游供给，AI 重构开发流程实现降本增效，同时创新交互体验，巨人网络、恺英网络等厂商受益于新 游周期与出海拓展。AI + 影视 ...

Core Viewpoint - The media sector has experienced two rounds of growth in 2023, driven by AI expectations and the release of fundamental performance [1][2] Group 1: Media Sector Performance - The media industry saw a total of two rounds of growth this year, with the first round from January to February showing approximately a 24% increase, primarily due to the impressive performance of the domestic AI model DeepSeek, which boosted expectations for AI applications [2] - The second round from April to September experienced nearly a 47% increase, driven by the iterative development of AI large models and the gradual implementation of applications, alongside a reduction in tariff concerns that improved risk appetite [2] - The gaming sector is expected to maintain high prosperity due to a combination of emotional consumer demand and the release of new games, while high-quality IP content like "Nezha 2" is anticipated to drive performance in the film sector [2] Group 2: AI Empowerment and Industry Outlook - AI technology is significantly enhancing content production and commercialization processes across various fields, including gaming, video production, advertising, e-commerce, and education, with promising application prospects [1][3] - The gaming industry is characterized by strong supply and demand, with core domestic manufacturers maintaining stable operations of existing games and a rich reserve of quality new games, indicating a bright future [3] - The film sector is expected to benefit from supportive policies like the "21 Regulations of Broadcasting and Television," which may lead to an upward turning point for long dramas and variety shows [4] Group 3: Investment Recommendations - Recommended stocks in the gaming sector include Giant Network, Kying Network, and Tencent Holdings, among others, due to their strong fundamentals and growth potential [3] - In the film sector, recommended stocks include Mango Super Media and Shanghai Film, with additional beneficiaries like Chinese Online and Huace Film [4] - For marketing, recommended stocks are HuiLiang Technology and Inertia Media, while beneficiaries include BlueFocus Communication Group and Easy Point Tianxia [4] Group 4: IP Industry Growth - The IP industry is experiencing growth driven by overseas expansion, category diversification, and accelerated capitalization, with companies like Yuewen Group and Aofei Entertainment being recommended stocks [5] - The trend of IP companies expanding from online to offline and from virtual to physical products is expected to continue, contributing to sustained growth [5]

Group 1: Industry Overview - The media industry has experienced a cumulative increase of approximately 24% in 2025, driven by strong earnings and the impact of AI on profitability [15][16][17] - AI is enhancing the profitability of the media sector, potentially driving long-term growth and a prosperous content ecosystem [16][18] Group 2: AI and Its Applications - Continuous iteration and upgrades of large models by domestic and international tech giants are laying the foundation for a thriving AI application ecosystem [35][36] - The gaming industry is witnessing robust supply and demand, with a significant increase in the issuance of game licenses, totaling 1,532 in 2025, a 29% year-on-year increase [41][42] - AI is transforming the game development process, improving efficiency and innovation in gameplay design and narrative structure [53][54] Group 3: Sector-Specific Insights - The gaming sector's revenue grew by 24% year-on-year in 2025, with a notable 29% increase in Q3 alone, driven by new game releases and strong user engagement [23][25] - The film industry saw a 9% increase in revenue year-on-year, with a remarkable 110% increase in net profit, largely attributed to successful IP content like "Nezha 2" [24][31] - The advertising and marketing sector experienced a 6% revenue growth year-on-year, with a 14% increase in net profit in Q3, supported by AI-driven cost optimization [28][33] Group 4: Investment Recommendations - Recommended companies in the gaming sector include Giant Network, Kying Network, and Tencent Holdings, which are well-positioned to benefit from the ongoing AI integration [4][41] - In the film sector, companies like Mango Super Media and Shanghai Film are highlighted as key players benefiting from supportive policies and AI tools [4][24] - For the marketing sector, recommended companies include Huimai Technology and Inertia Media, which are expected to gain from AI advancements [4][28] Group 5: IP Expansion and Capitalization - The expansion of IP companies into overseas markets is becoming a core growth driver, with a focus on diversifying product categories [39][40] - Capitalization efforts are accelerating the growth of IP companies, with notable recommendations including Reading Group and Aofei Entertainment [39][40]

截至发稿，元隆雅图市值为46亿元。 每经头条（nbdtoutiao）——微信聊天遭老板监视，杀毒软件"失明"，员工隐私被系统性采集！软件商 公开售卖"监控神器"，称已服务多家企业 （记者 王晓波） 每经AI快讯，元隆雅图（SZ 002878，收盘价：17.63元）12月25日晚间发布公告称，公司第五届第九次 董事会会议于2025年12月25日以现场结合通讯方式召开。会议审议了《关于公司向中国银行股份有限公 司北京宣武支行申请综合授信额度的议案》等文件。 2025年1至6月份，元隆雅图的营业收入构成为：营销行业占比98.01%，特许纪念品经营占比1.99%。 ...

Investment Rating - The report maintains a "Recommended" rating for the media and internet industry [1] Core Viewpoints - The media and internet industry is driven by performance and AI empowerment, with a focus on core assets in the Hong Kong internet sector and AI applications [3][4] - The report highlights the stable supply in the film industry and the recovery of the box office, with significant growth in ticket sales [16][20] - The gaming sector shows strong performance with an increase in both client and mobile game revenues, driven by dual-end interaction [57][58] - The advertising market is showing steady growth, with a notable increase in spending across various sectors [3][4] Market Review - In November 2025, the media industry index rose by 1.69%, outperforming the Shanghai and Shenzhen 300 index, which fell by 2.46% [5][6] - The media sector's performance varied, with advertising marketing up by 9.68% and the gaming sector down by 0.94% [10][12] Sub-industry Data Tracking Film Industry - The national box office for November 2025 reached 3.553 billion yuan, a year-on-year increase of 89.29% and a month-on-month increase of 36.03% [16][20] - The top film, "Zootopia 2," generated a box office of 1.731 billion yuan, accounting for 54.2% of the monthly total [23] Gaming Industry - The domestic gaming market's actual sales revenue in October 2025 was 31.359 billion yuan, a year-on-year increase of 7.83% [57] - Client games showed a strong performance with revenues of 7.227 billion yuan, up 29.4% year-on-year [58] Advertising Industry - The overall advertising market expenditure increased by 4.3% year-on-year in the first ten months of 2025, with a significant rise of 10.6% in October [3][4]

Core Insights - The report titled "2025 Xiaohongshu Grass-Planting Marketing Manual" provides an in-depth understanding of the core logic, underlying principles, and practical pathways of grass-planting marketing, emphasizing a user-centric approach rather than a purely marketing-driven one [1][6] - The manual outlines the essential steps of grass-planting, which include capturing consumer trends, understanding underlying motivations, amplifying reach, and stimulating user engagement [1][12] Group 1: Understanding Grass-Planting - Grass-planting is defined as genuinely helping users find solutions for their desired lifestyles, moving away from traditional marketing tactics [8][10] - The manual highlights an irreversible trend where consumer awareness and the relationship between users and companies are evolving towards equality [11] - Companies that succeed in grass-planting focus on understanding real user needs and creating meaningful connections, as demonstrated by case studies like Babycare and Afu [10][11] Group 2: Core Principles of Grass-Planting - The four key steps in the grass-planting process are: 1. **Capture**: Identifying the starting point of consumer trends through observation of popular products and user behavior [15][16] 2. **Understand**: Analyzing the deeper reasons behind user engagement and desires [23] 3. **Amplify**: Using a "reverse funnel" approach to expand from core users to broader audiences [15] 4. **Stimulate**: Encouraging users to transition from passive consumers to active co-creators through various motivations [15][16] Group 3: Implementing Grass-Planting in Organizations - Companies are encouraged to establish a grass-planting organization that fosters an experience management cycle, breaking down departmental barriers to enhance collaboration [1][12] - The selection of employees with both empathy and analytical skills is crucial for driving user experience and value [1][12] - The manual provides actionable insights through case studies of companies like Babycare and Yaozhidao, showcasing successful product innovation and user engagement strategies [1][12]

华尔街最受热议、且对市场影响显著的分析师评级报告现已汇总呈现。以下是由 The Fly 整理的、投资 者今日需重点关注的评级变动信息。 五大评级上调个股 1. 罗库（ROKU）：摩根士丹利将其评级从 "减持" 上调至 "增持"，目标价由 85 美元上调至 135 美 元。该机构指出，得益于数字广告市场的强劲表现，2026 年美国广告支出有望实现 "稳健" 增 长。 2. 奥克塔（OKTA）：杰富瑞在其 2026 年软件行业展望报告中，将奥克塔评级从 "持有" 上调至 "买 入"，目标价由 90 美元上调至 125 美元。该机构在研报中向投资者表示，奥克塔正着力打造完整 的身份认证平台，有望把握智能代理需求增长的机遇，发展潜力巨大。 3. 赛富时旗下 ServiceNow（NOW）：古根海姆将其评级从 "卖出" 上调至 "中性"。该机构表示，此 次评级上调的依据是当前股价已低于此前设定的目标价，估值具备吸引力。 4. 罗克韦尔自动化（ROK）：高盛将其评级从 "卖出" 上调至 "中性"，目标价由 329 美元上调至 448 美元。高盛在研报中称，在新任管理层的带领下，公司正处于结构性提价的初期阶段，此举 有望在 ...