Group 1 - The core viewpoint of the article highlights the launch and commercialization of the immersive XR film "Mulan 2125" by Weiling Times, marking a significant milestone in the 3D content industry [2] - "Mulan 2125" is the only competition piece from a mainland Chinese team at the 82nd Venice International Film Festival's immersive competition section, showcasing its international recognition [2] - The film is set to be available on major immersive headset platforms, including Meta Quest and Apple Vision Pro, indicating a strategic move towards mainstream accessibility [2] Group 2 - Weiling Times utilizes AI to optimize production processes, significantly reducing the content production cycle and overcoming traditional efficiency bottlenecks [3] - The company has developed XR holographic streaming technology, allowing users to experience seamless, ultra-high-definition immersive visuals without latency [3] - Weiling Times is opening its methodologies and tools for "Mulan 2125" to partners and developer teams through a developer platform, aiming to promote high-quality content production across the industry [3]

Core Insights - Real-time cloud rendering is an emerging rendering method based on rapid advancements in cloud computing, virtualization, and rendering engines, enabling high-quality video streaming of complex 2D or 3D graphics in real-time [1][2][7] - The global real-time cloud rendering market is projected to grow from $1.595 billion in 2020 to $4.03 billion by 2024, achieving a compound annual growth rate (CAGR) of 26% [7][9] - In China, the market is expected to reach 8 billion yuan in 2024, with a year-on-year growth of 45.5%, significantly outpacing the global market [9] Market Overview - Real-time cloud rendering enhances user experiences across various sectors, including entertainment, film, tourism, architecture, social interaction, and office applications, as well as cutting-edge fields like the metaverse and digital twins [1][9] - The service is categorized into three main applications: cloud gaming, cloud-native, and other scenarios, with cloud gaming being the primary application due to its established industry framework and large user base [11][13] Competitive Landscape - The real-time cloud rendering market consists of independent rendering cloud vendors and cloud computing providers, each offering different capabilities and solutions [13] - Independent vendors, like Ruiyun Technology, provide platforms compatible with multiple computing resources, while cloud computing firms, such as Alibaba Cloud, offer integrated "compute + render" platforms but with limited application support [13] Business Model - Various pricing models exist for cloud rendering services, including billing by duration, frame count, or node count, with many platforms adopting a dual-track pricing model based on configuration and time [15] Industry Trends - The real-time cloud rendering market is evolving towards large-scale, diversified, and specialized services, driven by the increasing complexity of application scenarios and the demand for high-quality rendering [19] - Enhanced infrastructure capabilities are necessary to meet the growing demands for computing power, storage speed, and network bandwidth [20] - The integration of artificial intelligence with real-time cloud rendering is improving rendering quality and system responsiveness, enhancing user interaction [21] - The industry ecosystem is expanding, attracting more participants and driving growth, although many applications are still in early development stages [22]