信达证券（601059）发布研报称，面对AI带来不确定性和机会，传媒互联网板块的投资体系将向流量 分发端和内容供给端的优质资产切换：流量分发端掌握"用户意图"的Agent公司，即能够直接触达用户 决策和意图执行的Agent平台，以及内容供给端掌握"优质内容"和"稀缺数据和IP"或者"用户情感与信 任"的公司。建议持续关注游戏板块的配置性机会，随着AI新玩法等驱动，板块估值仍具向上空间。 Agent定义入口，AIGC重塑供给 2026年随着AI从"技术基建期"迈向"应用深水区"，传媒互联网的核心变量将切换为入口形态迁移+分发 规则重定价+供给侧产能爆发的组合，产业底层逻辑可能会经历双重重构：1.在流量分发端， AIAgent(智能体)正在接管用户意图，取代App成为新一代超级入口，流量分发逻辑从"抢占时长"转 向"高效执行";2.在内容供给端，随着多模态大模型的发展，AIGC已实现全模态内容的零边际成本生 产，内容产业面临"产能大爆炸"，核心壁垒回归到优质数据和IP、与用户的情感连接。该行认为，面对 AI带来不确定性和机会，传媒互联网板块的投资体系将向流量分发端和内容供给端的优质资产切换。 (1)研发环节：全流 ...

太强了！今日（1月9日），AI应用端大涨，聚焦数据技术、数据安全领域的大数据ETF华宝（516700） 场内价格暴拉3.92%，冲击日线11连阳！ | 序号 | 名称 | 深跌幅 ▼ | 開日留 | 申万一级行业 | 申万二级行业 | 申万三级行业 | 总市值 | 成交額 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1 | 易点大下 | 20.00% | | 传媒 | 广告营销 | 营销代理 | 249亿 | 61.17亿 | | 2 | 润滑材技 | 15.53% | | 酒信 | 通信服务 | 通信应用增值服务 | 1129亿 | 71.99亿 | | 3 | 税友股份 | 10.00% | Arthand of | 计算机 | IT服务Ⅱ | IT服务Ⅲ | 289亿 | 5.80亿 | | 4 | 良飞致招 | 9.71% | mar | 通信 | 通信服务 | 通信应用增值服务 | 224亿 | 32.92亿 | | રે | 深信服 | 8.30% | --- | 计算机 | 软件开发 | 標向通用软件 | 557亿 | ...

Core Insights - The report emphasizes that in 2026, the media internet sector will undergo a dual reconstruction driven by the transition from AI as a "technical infrastructure" to "application deep water zone," focusing on entry form migration, distribution rule repricing, and supply-side capacity explosion [1][11] - AI Agents are set to replace traditional apps as the new super entry point, shifting the traffic distribution logic from "time capture" to "efficient execution" [1][12] - AIGC (AI-Generated Content) is expected to lead to a significant increase in content production capacity, with zero marginal cost production becoming a reality, thus redefining the value of quality data and IP [1][11] Group 1: AI Agents and Traffic Distribution - AI Agents signify a generational leap in human-computer interaction, evolving from GUI to IUI, fundamentally changing the traffic distribution logic [1][12] - The traditional "click-jump" model is being replaced by a "dialogue-execute" paradigm, where AI Agents understand user intent and execute tasks across applications [1][12] - The emergence of AI Agents is expected to create a new operational layer that could potentially replace single apps as the primary distribution entry point [1][12][19] Group 2: AIGC and Content Supply - AIGC is anticipated to transition from a phase of "cost reduction and efficiency enhancement" to a "new demand creation" explosion by 2026, significantly increasing content supply [1][41] - The production barriers for video, 3D, and gaming assets are expected to lower drastically, leading to a surge in content supply and a devaluation of mediocre content [1][41] - Content consumption is evolving from passive viewing to active engagement, with new formats like "generative interactive dramas" and "AI companion games" emerging [1][43] Group 3: Investment Recommendations - The investment strategy in the media internet sector is shifting towards high-quality assets in both traffic distribution and content supply, focusing on companies that can effectively capture user intent and provide quality content [1][41] - Companies with operational system bases or super Agent platforms are likely to gain new traffic distribution rights and bargaining power, while mid-tier apps lacking exclusive content may face risks of being "pipelined" [1][19] - Key players in the AI Agent space include Alibaba, Tencent, and ByteDance, which are actively developing their AI capabilities to secure new traffic entry points [1][25][40]

1月9日，龙韵股份涨6.54%，截至发稿，报17.26元/股，成交5029.16万元，换手率3.27%，总市值16.11 亿元。 资料显示，上海龙韵文创科技集团股份有限公司位于上海浦东新区民生路118号滨江万科中心16层，成 立日期2003年6月10日，上市日期2015年3月24日，公司主营业务涉及广告全案服务业务、广告媒介代理 业务、酒类销售业务等。主营业务收入构成为：数字化营销全案服务98.20%，媒介代理1.78%，酒类及 其他销售0.02%。 诺安多策略混合A（320016）成立日期2011年8月9日，最新规模18.55亿。今年以来收益2.79%，同类排 名4045/8827；近一年收益80.52%，同类排名423/8084；成立以来收益239.2%。 诺安多策略混合A（320016）基金经理为孔宪政。 截至发稿，孔宪政累计任职时间5年45天，现任基金资产总规模56.08亿元，任职期间最佳基金回报 86.44%， 任职期间最差基金回报-16.74%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均 ...

Core Insights - AI is fundamentally reshaping consumer decision-making paths, leading to a significant shift in marketing focus [1] - The report highlights that the deepening development and mature application of AI technology is a critical breakthrough for "data-driven" advertising marketing [1] Group 1: Consumer Decision Logic - Consumer decision logic is being fundamentally restructured from "passive search" to "active trust in AI recommendations" [1] - Marketing competition is shifting from keyword ranking to optimizing structured information that AI can recognize and assess as high value [1] Group 2: Content Production - Content production is undergoing a revolution, transitioning from "labor-intensive creativity" to "AI-driven large-scale creation and real-time optimization" [2] - AI can analyze user characteristics, scenarios, intentions, and even real-time emotions to select or generate personalized creative variations, achieving a significant increase in creative output [2] Group 3: Consumer Insights and Measurement - Consumer insights and measurement are evolving from "fuzzy attribution" to "full-link visualization and emotional computation" [2] - AI enables real-time analysis of user dynamic needs, preferences, and search intentions, facilitating a coherent and personalized experience across fragmented scenarios [2] Group 4: Short Video and E-commerce - The "short video+" model is rapidly evolving, restructuring the competitive landscape of the e-commerce industry [3] - Video information flow advertising has seen an 18.85% year-on-year growth, becoming the fastest-growing advertising format [3] Group 5: Market Growth Projections - The Chinese internet advertising market is projected to grow steadily at a rate of 11.5%, reaching a scale of 725.7 billion yuan by 2025 [3] - E-commerce advertising continues to lead with a market share of 38.55%, with interest-based e-commerce growing by 18.9% year-on-year [3] - The report predicts that the Chinese internet advertising market could exceed 900 billion yuan by 2026, driven by "agent-based AI" and "full-scene integration" [3]

证券日报网讯 1月8日，兆讯传媒发布公告称，公司于2026年1月8日召开的第六届董事会第三次会议， 审议通过《关于部分募投项目结项并将节余募集资金永久补充流动资金的议案》，同意公司首次公开发 行股票募集资金投资项目（简称"募投项目"）"运营站点数字媒体建设项目"结项，"运营站点数字媒体 建设项目"达到了预定可使用状态，公司拟将节余募集资金673.76万元（包括银行存款利息收入，具体 金额以资金转出当日银行结算余额为准）用于永久补充流动资金。该事项无需提交股东会审议。 （文章来源：证券日报） ...

证券之星消息，1月8日广告营销板块较上一交易日上涨2.86%，易点天下领涨。当日上证指数报收于 4082.98，下跌0.07%。深证成指报收于13959.48，下跌0.51%。广告营销板块个股涨跌见下表： | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 301171 | 易点天下 | 43.91 | 5.88% | 102.96万 | | 44.20 乙 | | 600986 | 浙文互联 | 8.87 | 5.34% | 152.64万 | | 13.40亿 | | 300058 | 蓝色光标 | 15.06 | 5.31% | 1022.87万 | | 151.80 乙 | | 603598 | 引力传媒 | 23.57 | 4.20% | 87.25万 | | 20.38亿 | | 300242 | 佳云科技 | 5.08 | 3.67% | 36.00万 | | 1.81亿 | | 600556 | 天下秀 | 7.11 | 3.34% | 243.02万 | | 17. ...

Group 1 - The core viewpoint of the news is that XuanYa International (300612) has experienced a stock price increase of 2.64% as of January 7, 2026, closing at 18.69 yuan, with a trading volume of 372,700 hands and a total transaction amount of 693 million yuan [1] - On January 7, the net inflow of main funds was 26.26 million yuan, accounting for 3.79% of the total transaction amount, while retail investors had a net outflow of 53.84 million yuan, representing 7.77% of the total transaction amount [1][2] - The company's main business includes smart marketing services, digital advertising services, and data technology product services [2] Group 2 - For the first three quarters of 2025, XuanYa International reported a main revenue of 257 million yuan, a year-on-year decrease of 40.1%, and a net profit attributable to shareholders of -19.17 million yuan, which is an increase of 14.55% year-on-year [2] - In Q3 2025, the company recorded a single-quarter main revenue of 64.25 million yuan, down 33.27% year-on-year, and a net profit attributable to shareholders of -10.30 million yuan, with a slight increase of 0.35% year-on-year [2] - The company's debt ratio stands at 30.94%, with an investment income of -830,000 yuan and financial expenses of 1.61 million yuan, while the gross profit margin is 38.45% [2]

Core Insights - The article discusses the evolution of NetEase Youdao, highlighting its shift from an educational technology company to a focus on advertising and AI applications, driven by the need for profitability and market relevance [3][4][15]. Group 1: Company Performance - By 2025, NetEase's market value is expected to return to the top five in China's internet sector, with a stable cash flow from its gaming business and successful independent financing for Cloud Music [3]. - Youdao's revenue growth has slowed since 2021, with 2024 marking its first year of positive operating profit, but profit pressures remain in 2025 [3][4]. - In the first half of 2025, Youdao reported a net income of 4.34 billion yuan, a slight increase of 1.4% year-on-year, with online marketing services revenue reaching 1.88 billion yuan, up 25.2% [4]. Group 2: Strategic Shifts - Youdao has rebranded itself as a "learning and advertising AI application service provider," indicating a strategic pivot towards advertising as its core growth driver [4][15]. - By the third quarter of 2025, online marketing services revenue surpassed educational services for the first time, becoming Youdao's largest revenue source [4][15]. - The company has shifted its narrative from "online education" to "AI + advertising," adapting to market demands and investor expectations [12][15]. Group 3: Leadership and Vision - CEO Zhou Feng's transition from an academic background to a focus on profitability reflects a pragmatic approach to business, balancing idealism with market realities [7][15]. - The relationship between Ding Lei and Zhou Feng is characterized by trust and support, with Ding providing significant equity and resources to empower Zhou in leading Youdao [12][13]. - Zhou's vision for AI in education has evolved, focusing on practical applications that generate cash flow rather than purely on educational ideals [10][19]. Group 4: Market Context - The competitive landscape is shifting, with major players like OpenAI and Google advancing rapidly in AI technology, prompting Youdao to emphasize its unique position in the market [9][18]. - The article notes the challenges of aligning AI solutions with the diverse needs of students, parents, and teachers, highlighting the complexity of the education market [10][19]. - Youdao's recent product, the "AI Answer Pen," has achieved significant sales, indicating a successful entry into the hardware market, but the company must navigate a more competitive environment moving forward [17][20].

AI 营销新范式 GEO：广告营销行业的新机遇 20260106 摘要 GO（Generative Optimization）旨在通过优化内容，使其在 AI 搜索 和聊天机器人中被主动提及，从而提升品牌曝光度，应对 AI 搜索快速增 长带来的传统 SEO 效果弱化。 GO 服务通过分析关键词、优化内容结构、增加权威数据来源，并将内 容分发至如维基百科、Reddit、母婴类垂直媒体等 AI 平台偏好的权威 渠道，以提高品牌内容的 AI 引用率。 衡量 GO 服务效果的核心指标是 AI 推荐度或提及率，通过监测这些指标 的显著提升来评估服务有效性，并根据效果调整优化策略。 提供 GO 服务需覆盖主流 AI 平台，了解各平台内容偏好，并高频跟踪模 型变化，技术门槛较高，更偏向技术服务，毛利率理论上高于传统广告 营销。 GO 市场处于早期阶段，市场空间有望达百亿美元量级，将部分替代 SEO，但不会完全取代，可能扩大整体市场规模，为广告营销公司带来 增量利润。 Q&A 什么是生成式引擎优化（Generative Engine Optimization, GO）？ 生成式引擎优化（GO）是一种新的 AI 营销模式，旨在提 ...