中信证券此前指出，阜博集团系全球版权保护第三方技术服务行业龙头，具备数据储量、算法能力、独 家API三大核心优势。该行看好全球主要内容方/流媒体平台维持版权保护长期需求，AI创作视频在提升 创作效率的同时有望带来侵权内容供应量增长与AIGC原创资产保护新机遇，公司兼具优质赛道与竞争 优势，有望维持较高成长斜率。 智通财经APP获悉，阜博集团(03738)早盘涨超5%，截至发稿，涨4.31%，报5.32港元，成交额2.04亿港 元。 消息面上，阜博集团发布公告称，计划发行本金总额为16亿港元的零息可换股债券，预计于2026年到 期。公司发行债券的估计所得款项净额将约为15.66亿港元，即按初始换股价计算的净发行价为每股新 股份5.75港元。公司计划将50%用于开发及投资人工智能生成内容(AIGC)及现实世界资产(RWA)相关业 务，30%用于偿还现有债务，20%用于一般营运资金。该债券拟在维也纳证券交易所上市，同时申请香 港联交所批准新股份上市及交易。 ...

Core Viewpoint - Fubo Group (03738) plans to issue zero-coupon convertible bonds totaling HKD 1.6 billion, with an estimated net proceeds of approximately HKD 1.566 billion, aimed at funding AI-generated content and real-world asset-related businesses, debt repayment, and general working capital [1] Group 1: Company Financials - The company’s stock rose over 5% in early trading, currently at HKD 5.32, with a trading volume of HKD 204 million [1] - The estimated net issuance price for new shares is HKD 5.75 per share based on the initial conversion price [1] Group 2: Use of Proceeds - 50% of the proceeds from the bond issuance will be allocated to the development and investment in AI-generated content (AIGC) and real-world asset (RWA) related businesses [1] - 30% will be used to repay existing debts [1] - 20% will be allocated for general working capital [1] Group 3: Industry Position - Fubo Group is recognized as a leader in the global copyright protection third-party technology service industry, with core advantages in data reserves, algorithm capabilities, and proprietary APIs [1] - The demand for copyright protection from major content providers and streaming platforms is expected to remain strong, with AI-generated video creation potentially increasing both creative efficiency and the supply of infringing content, presenting new opportunities for AIGC original asset protection [1] - The company is positioned in a high-quality sector with competitive advantages, likely to maintain a high growth trajectory [1]

Group 1 - Fubo Group (03738) has seen a significant increase in stock price, rising over 8% and accumulating a total increase of over 90% within the month [1] - As of the latest update, the stock price is reported at 6.76 HKD with a trading volume of 314 million HKD [1] - The Chinese government has issued an opinion on August 26 regarding the implementation of "Artificial Intelligence+" actions, focusing on enhancing data supply innovation and improving data property rights and copyright systems [1] Group 2 - CITIC Securities highlights Fubo Group as a leader in the global copyright protection third-party technology service industry, emphasizing its core advantages in data volume, algorithm capabilities, and exclusive API [1] - According to China Merchants Securities, Fubo Group has made early investments in AI, improving content verification and monetization efficiency through multimodal large models, and collaborating with universities to develop digital content verification technologies and solutions in the AI field [1] - The company is actively promoting cooperation in API integration with platforms to drive domestic business growth [1]

消息面上，其中8月26日，国务院发布《关于深入实施"人工智能+"行动的意见》。意见在加强数据供给 创新方面提出，"完善适配人工智能发展的数据产权和版权制度，推动公共财政资助项目形成的版权内 容依法合规开放"。 中信证券指出，阜博集团为全球版权保护第三方技术服务行业龙头，具备数据储量、算法能力、独家 API三大核心优势。招商证券此前也表示，阜博集团早年布局AI，凭借多模态大模型提升了审核确权和 内容变现效率，与多个高校合作研发AI领域数字内容确权技术和解决方案；持续推进API端口与平台对 接的合作，推动国内业务增长。 智通财经APP获悉，阜博集团(03738)再涨超8%，月内累涨逾90%。截至发稿，涨7.64%，报6.76港元， 成交额3.14亿港元。 ...

中信证券指出，阜博集团系全球版权保护第三方技术服务行业龙头，具备数据储量、算法能力、独家 API三大核心优势。该行看好全球主要内容方/流媒体平台维持版权保护长期需求，AI创作视频在提升创 作效率的同时有望带来侵权内容供应量增长与AIGC原创资产保护新机遇，公司兼具优质赛道与竞争优 势，有望维持较高成长斜率。 消息面上，阜博集团拟于8月28日(本周四)举行董事会会议批准中期业绩。此外，8月7日，全球首个 RWA注册登记平台正式上线。同日，Web3.0三项标准立项。据悉，今年6月，阜博集团公告，已成功完 成Vobile MAX数字内容资产交易平台的市场测试。Vobile MAX平台现已具备支持微短剧内容等大量实 体资产(RWA)的并发确权及交易能力，释放数字内容资产的流动性价值。 智通财经APP获悉，阜博集团(03738)早盘涨超10%，截至发稿，涨9.23%，报5.92港元，成交额2.14亿港 元。 ...

消息面上，阜博集团拟于8月28日(本周四)举行董事会会议批准中期业绩。此外，8月7日，全球首个 RWA注册登记平台正式上线。同日，Web3.0三项标准立项。据悉，今年6月，阜博集团公告，已成功完 成Vobile MAX数字内容资产交易平台的市场测试。Vobile MAX平台现已具备支持微短剧内容等大量实 体资产(RWA)的并发确权及交易能力，释放数字内容资产的流动性价值。 中信证券指出，阜博集团系全球版权保护第三方技术服务行业龙头，具备数据储量、算法能力、独家 API三大核心优势。该行看好全球主要内容方/流媒体平台维持版权保护长期需求，AI创作视频在提升创 作效率的同时有望带来侵权内容供应量增长与AIGC原创资产保护新机遇，公司兼具优质赛道与竞争优 势，有望维持较高成长斜率。 阜博集团(03738)早盘涨超10%，截至发稿，涨9.23%，报5.92港元，成交额2.14亿港元。 ...

Company Overview - The company is a global leader in copyright protection technology services, established in 2005 in Silicon Valley, California, and listed on the Hong Kong Stock Exchange in 2018 [2] - It provides a one-stop digital asset protection technology and content distribution value-added services through a SaaS model, targeting content producers, copyright holders, streaming platforms, and internet companies [2] - The company has established long-term partnerships with major film companies like Disney, Paramount, and Sony Pictures, as well as leading streaming platforms such as HBO, Netflix, and Amazon Prime [2] - In 2024, the company achieved revenue of 2.401 billion HKD and a net profit attributable to shareholders of 143 million HKD, marking a return to profitability [2] Industry Analysis - The global copyright protection industry is driven by three main factors: the continuous expansion of copyright content assets, the persistent issue of piracy, and the opportunities presented by AI in content creation [3] - The market size of the core copyright industry in the U.S. is projected to reach 2.09 trillion USD by 2024, while China's online copyright industry has surpassed 1.6 trillion CNY as of 2023 [3] - The global piracy website visits are expected to reach 216.3 billion by 2024, highlighting the ongoing challenges in copyright protection [3] - The AIGC market for audio and video content is projected to reach 34.7 billion USD by 2032, indicating a growing demand for copyright protection as AI-generated content increases [3] Competitive Landscape - The independent copyright protection technology service industry is a niche segment within the larger piracy industry, with limited competitors of similar scale [4] - The company leads the market with over 300 million USD in annual revenue, holding a significant position in both the U.S. and Chinese markets [4] - The global third-party copyright protection technology service market is expected to reach 4.83 billion USD by 2025, growing at a rate of 18.2% year-on-year, and is projected to reach 10.01 billion USD by 2030, with a CAGR of 15.7% [4] Company Advantages - The company possesses three core advantages: data reserves, algorithm capabilities, and exclusive API access [5] - It has the largest audiovisual content digital fingerprint database, with over 10 million film and television programs accumulated by April 2025 [5] - The company has been recognized for its advanced VDNA/watermark and web-crawling algorithms, outperforming 13 global competitors in technical evaluations [5] - As the only independent copyright protection service provider with API access to platforms like YouTube, Facebook, Instagram, and SoundCloud, the company has a leading edge in content resource retrieval [5]

Company Overview - The company is a global leader in copyright protection technology services, established in 2005 in Silicon Valley and listed on the Hong Kong Stock Exchange in 2018 [3] - It provides a one-stop digital asset protection technology and content distribution value-added services through a SaaS model, serving content producers, copyright holders, streaming platforms, and internet companies [3] - The company has established long-term partnerships with major film companies like Disney, Paramount, and Sony Pictures, as well as leading streaming platforms such as HBO, Netflix, and Amazon Prime [3] - In 2024, the company achieved revenue of 2.401 billion HKD and a net profit of 143 million HKD, returning to profitability [3] Industry Analysis - The global copyright protection industry is driven by three main factors: the continuous expansion of copyright content assets, the persistent issue of piracy, and the opportunities presented by AI in content creation [4] - The market size of the core copyright industry in the U.S. is projected to reach 2.09 trillion USD by 2024, while China's online copyright industry has surpassed 1.6 trillion CNY as of 2023 [4] - The global third-party copyright protection technology service market is expected to reach 4.83 billion USD by 2025, growing at a rate of 18.2% year-on-year, and is projected to reach 10.01 billion USD by 2030 with a CAGR of 15.7% [5] Competitive Landscape - The independent copyright protection technology service industry is a niche segment within the larger piracy industry, with the company leading the market in both the U.S. and China, generating over 300 million USD in annual revenue [5] - The domestic market is expected to benefit from copyright protection technology, particularly for long videos and new content formats like micro-short dramas [5] Company Advantages - The company possesses three core advantages: a vast data reservoir, advanced algorithms, and exclusive API access [6] - It has the largest audiovisual content digital fingerprint database, with over 10 million film and television programs accumulated by April 2025 [6] - The company has been recognized for its leading VDNA/watermark and web-crawling algorithms, outperforming 13 global competitors in technical evaluations [7] - As the only independent copyright protection service provider with access to APIs from platforms like YouTube, Facebook, Instagram, and SoundCloud, the company has a competitive edge in content resource retrieval [7]