Core Insights - The global AI competition has entered a "China moment" since 2025, marking the beginning of a golden era for AI applications in marketing technology [1] - BlueFocus, a leading global marketing group, recognizes the need to shift from an agency-driven model to a technology and AI-driven approach for Chinese brands going global [1] Group 1: AI as a Driving Force - AI has become a "super engine" for brands going global, enhancing efficiency despite short-term trade fluctuations [3] - The "All In AI" strategy has led to AI covering over 95% of BlueFocus's operational scenarios, with the introduction of the proprietary BlueAI model [3] - The BlueAI platform significantly improves the efficiency of generating advertising materials, achieving over tenfold increases in productivity for multilingual content and AI-generated videos [3] Group 2: Emerging Trends in Brand Marketing - Three major trends in Chinese brands' overseas marketing include AI-driven efficient advertising, the rise of new platforms, and the deepening of Direct-to-Consumer (DTC) models [4] - New platforms like TikTok, Temu, and Kwai are becoming crucial for reaching younger audiences, with brands increasingly relying on independent sites and social media for direct user connections [4] Group 3: Localization and Market Penetration - AI is being utilized to predict trending product categories in Southeast Asia and to identify local influencers in Japan, enhancing consumer trust [5] - Companies are advised to embrace AI tools across the entire marketing process, focus on localization, ensure data compliance, and combine DTC with social e-commerce strategies [5][6] - BlueFocus has established offices in nine countries to strengthen local teams and provide specialized market insights, adapting marketing strategies to cultural differences [6] Group 4: Future Strategies - BlueFocus is set to launch its "Globalization 2.0 Strategy" in 2024, focusing on building technological barriers and optimizing market structures for high-quality growth [6] - The company plans to transition from traffic agency models to self-built traffic, exploring collaborations through investments and acquisitions in the marketing and content sectors [6]

策 略 研 究 华福证券 银发经济娱乐消费新风潮 团队成员 投资要点： 数字参与深化：银发经济推动消费市场多元发展 策 随着社会的发展与老龄化进程的加剧，老年群体的消费行为和消费市 场正在发生深刻的变化,50 岁以上的中老年人群体已经逐步融入数字化生 活，成为不可忽视的消费力量。根据中国互联网络信息中心（CNNIC）的 第 55 次《中国互联网络发展状况统计报告》，截至 2024 年 12 月，50 岁 及以上群体占比达到 34.1%，较上年同期增长 1.6 个百分点。 略 点 评 近年来，年轻人常用的 APP，也逐渐成为银发族群体日常使用的应用。 据电通创意的《2025 银发族趋势观察》，在银发人群中，快手、抖音和网 易新闻是使用时长最长的三大应用。同时，老年人群体也体现了强烈的参 与感，61%的银发人群会将自己喜欢的短视频分享给亲朋好友，涵盖的内 容包括养生、新闻时事等。这一趋势不仅推动了老年人群体的数字化转型， 也为相关企业在这一市场的布局提供了机会。老年人群体的互联网使用习 惯正在不断深入，而这一趋势势必将推动数字广告、社交电商、在线教育、 短视频等领域的蓬勃发展。 娱乐消费升级：银发经济驱动文娱产业 ...

证券研究报告 | 行业专题研究 gszqdatemark 2025 05 08 年 月 日 传媒 25Q1 整体业绩显著回暖，游戏、影视院线表现突出 2024 年传媒板块业绩承压，2025Q1 业绩同比显著回暖。2024 年传媒板块营收 6106.4 亿 元，同比增长 0.51%；归母净利润 184.3 亿元，同比下滑 52.96%。从体量看，营收前三的 板块分别为广告营销、出版阅读和互联网，归母净利润前三的板块分别为出版阅读、广告营 销和游戏。2025Q1 传媒板块实现营业收入 1473.8 亿元（yoy+0.74%），归母净利润 111.1 亿元（yoy+41.58%）。从体量看，营收前三的板块分别为广告营销（391.09 亿元， yoy+0.21%）、出版阅读（332.55 亿元，yoy-3.99%）和互联网（251.49 亿元，yoy-20.00%）， 归母净利润前三的板块分别为出版阅读（35.21 亿元，yoy+34.48%）、游戏（31.04 亿元， yoy+45.95%）和广告营销（16.42 亿元，yoy+10.06%）。估值层面来看，传媒行业估值 27x 仍处于历史底部区间。 游戏：年度收入 ...

5月8日，港股公司优矩控股(01948.HK)复牌后股价出现剧烈波动，盘中一度上涨超过300%，最终收盘 时涨幅为150%，报3港元/股。当天，优矩控股发布公告称，原主要股东Supreme Development已完成向 独立第三方Autumn Harvest Ltd出售50.62%的股权，涉及约3.04亿股股份，总代价为2.13亿港元，相当于 每股作价0.7港元。交易完成后，要约人及其一致行动人士共计持有公司股本72.71%，须按例提出强制 性全面要约，每股现金价0.7港元，较停牌前收市价折让41.67%。 要约人为一间投资控股公司，其已发行股本由Cheng先生直接实益拥有60%，Ma女士直接实益拥有 40%。Ma女士为Cheng先生的配偶，也是要约人的唯一董事。Cheng先生在互联网行业拥有逾20年的工 作及管理经验，曾创办并管理上海智书企飞软件技术有限公司；Ma女士曾在百度及猎豹移动任职，并 于2023年加入优矩控股担任营销部副总裁。要约人计划维持公司的上市地位，并继续运营现有业务。 优矩控股主要提供线上营销解决方案服务，包括向顶尖媒体平台获取流量、内容制作、大数据分析及广 告活动优化等。公司于2021 ...

5月8日，宣亚国际今日收盘14.39元，上涨2.35%，最新市净率5.34，创22天以来新低，总市值25.97亿 元。 最新一期业绩显示，2025年一季报，公司实现营业收入1.12亿元，同比-25.51%；净利润-4029449.83 元，同比79.77%，销售毛利率31.89%。 序号股票简称PE(TTM)PE(静)市净率总市值(元)7宣亚国际-135.23-74.005.3425.97亿行业平均 58.0368.514.21107.15亿行业中值44.4254.322.8566.41亿1金逸影视-1663.11-34.0316.8930.75亿2天威视 讯-440.71-2405.263.0067.58亿3歌华有线-387.03-144.140.79100.21亿4引力传媒-244.71-251.4823.6845.53亿 5中国电影-196.47135.981.76190.99亿6因赛集团-136.19-131.729.1859.33亿8*ST天择-110.90- 124.844.3421.27亿9华媒控股-109.65-472.312.5039.28亿10流金科技-84.17-86.973.2820. ...

Core Viewpoint - The implementation of the dual-group technical standard for "Metadata Management Guidelines for Creative Materials in Internet Advertising Based on Generative Artificial Intelligence" marks a new phase of standardized and regulated development in AI marketing in China, effective from January 1, 2025 [1][2]. Group 1: Standard Development - The standard was proposed by LEO Digital and successfully established during the 11th meeting of the Internet Advertising Standards Joint Working Group in June 2023, undergoing multiple rounds of review before approval at the 15th meeting [2]. - It covers the entire lifecycle of AIGC advertising creative materials, including generation, storage, usage, and destruction, and specifies key metadata management fields such as producer, time, device, and generation elements [2][3]. - The standard aims to enhance the traceability and compliance of creative materials, providing a strong operational framework for advertisers, platforms, and service providers [2]. Group 2: Industry Collaboration and Future Directions - LEO Digital emphasizes the importance of technology-driven collaboration in establishing industry standards, aiming to enhance the overall technical level of the industry under the guidance of regulatory authorities [2][3]. - The company plans to integrate this standard into its AIGC advertising platform "LEO AIAD" starting in the second half of 2024, achieving systematic deployment of the metadata management module [2]. - The implementation of this standard not only fills the gap in AI advertising standards but also lays a foundational framework for new infrastructure in AI marketing, promoting safe, regulated, and efficient applications of AI in the marketing field [3].

近日，极效361平台CEO穆仕途正式对外宣布，其将开放线上线下融合架构，全面助力企业迈入智能活动营销新时代。 如果说传统的会议搭建、组织、签到、会务等还属于会议筹备1.0的话，那么极效361所强化的大数据应用、会后数据分析、长效商机挖掘将把高效办会推向 2.0时代。其中蕴含的商业道理很简单，办会不是目的，实现营销效果才是目的。毕竟做企业都追求盈利，而不是秀给别人看。 然而，目前国内的会议效果及形势并不乐观。数据显示，国内企业每年举办超千万场活动，但平均转化率不足3%，大量潜在客户在活动结束后失联。以往 的传统营销过度聚焦活动前中期的即时效果，却忽视ToB场景下需长期培育的客观规律，导致80%的营销价值流失于线下场景与数字内容的割裂中。这个局 该怎么破？ 数字营销提升行业活动价值转化 不可否认，商业会议目前仍是重要的提升企业商业价值、获取商业机会的手段。那么，怎么把会议效果最大化呢？对此，极效361平台CEO穆仕途提出了"营 销效果=数据×技术×场景"的指数级增长模型，将数据的价值提升到了一个新高度。 在一个商业活动中，往往有三类人群的重要信息会被忽视。第一种，有些参与活动的客户本身有商业需求，但或碍于性格被动 ...

Group 1: Company Performance - Wens Foodstuff's April chicken sales revenue was 2.543 billion yuan, a year-on-year decrease of 5.01% [1] - Wens Foodstuff sold 10.381 million chickens in April, a year-on-year increase of 10.87% [1] - Wens Foodstuff's average chicken selling price was 11.24 yuan/kg, a year-on-year decrease of 14.91% [1] - Zhongtong Bus's April vehicle sales volume was 1,046 units, a year-on-year decrease of 4.04% [1][2] - Kemin Food's April pig sales revenue reached 70.9048 million yuan, a year-on-year increase of 16.04% [3] - Muyuan Foods sold 6.573 million pigs in April, a year-on-year increase of 51.80% [5] - Muyuan Foods' pig sales revenue was 12.595 billion yuan in April, a year-on-year increase of 53.42% [5] - Xiamen Airport's April passenger throughput was 2.3881 million, a year-on-year increase of 7.73% [24] - Daqin Railway's April cargo transport volume was 30.62 million tons, a year-on-year increase of 0.99% [26] - Shaanxi Coal's April coal production was 14.24 million tons, a year-on-year decrease of 1.78% [28] Group 2: Industry Overview - Wens Foodstuff operates in the agriculture, forestry, animal husbandry, and fishery industry, specifically in pig farming [1] - Zhongtong Bus operates in the automotive industry, focusing on commercial vehicles [2] - Kemin Food operates in the food and beverage industry, specifically in food processing [3] - Muyuan Foods is also in the agriculture, forestry, animal husbandry, and fishery industry, focusing on pig farming [5] - Xiamen Airport is part of the transportation industry, specifically in airport operations [24] - Daqin Railway operates in the coal industry, focusing on coal mining and transportation [26] - Shaanxi Coal is also in the coal industry, focusing on coal mining and related services [28]

游戏 业绩超预期，看好新游周期开启。2024年及2025Q1 A股游戏公司合计实现营收873.7、248.2亿元， yoy+8%、+21%，世纪华通爆款手游《无尽冬日》表现亮眼提振板块增速。截至2025Q1末，A股游戏公 司合同负债合计71.9亿元，同比增长7.5亿元，环比增长0.7亿元，反应A股游戏公司流水稳健增长态势。 2024年及2025Q1 A股游戏公司合计实现归母净利润68.4、42.4亿元，yoy-14%、+61%。该行看好2025年 买量市场竞争趋缓，新游周期开启驱动业绩增长，同时期待AI催化提振板块估值。 智通财经APP获悉，东吴证券发布研报称，传媒业25Q1整体表现优于预期，爆款驱动影视及游戏板块 增长。24Q4、25Q1传媒板块合计实现收入1,393亿元、1,240亿元，同比下滑2%、增长5%;板块增速实现 企稳回升，整体表现略好于市场预期。其中受爆款催化的影视院线及游戏板块表现出色，其他板块整体 表现相对平稳。 东吴证券主要观点如下： 营销 2025年迎来"开门红"，期待后续内容表现。24Q4影视院线行业实现收入98.4亿元，同比下滑6%，主要 受优质电影数量有限影响;25Q1影视院线行 ...

【中信社服】DoorDash 25Q1业绩速览：利润表现强劲，收购Deliveroo及SevenRooms 25Q1营收30.3亿美元/YoY+20.7%；我们计算25Q1 GOVtake rate为13.1%/YoY+8bps，环比24Q4下降36bps。 #运营端：量价齐增驱动GMV维持高增。 25Q1公司订单量达7.32亿/YoY+18.1%，系用户总数增长、核心用户数提升购频提升、新垂类贡献度提升。 25Q1 GOV230.8亿美元/YoY+19.9%，我们计算AOV为31.5美元/YoY+1.6%。 【中信社服】DoorDash 25Q1业绩速览：利润表现强劲，收购Deliveroo及SevenRooms #运营端：量价齐增驱动GMV维持高增。 25Q1公司订单量达7.32亿/YoY+18.1%，系用户总数增长、核心用户数提升购频提升、新垂类贡献度提升。 25Q1 GOV230.8亿美元/YoY+19.9%，我们计算AOV为31.5美元/YoY+1.6%。 #收入端：货币化率同比稳定、环比下滑。 #费用端：规模效应下毛利率提升、折旧与摊销费用优化显著。 25Q1公司实现经调毛利润14.6亿美元/毛利 ...