Investment Rating - The report maintains an "Outperform the Market" rating for the media sector [4][36][40] Core Views - The media sector has shown a slight increase of 0.48% this week, underperforming both the CSI 300 index (0.75%) and the ChiNext index (4.09%) [11][12] - The game "Escape from Duckkov" has surpassed 2 million sales as of October 28, 2025, indicating strong market interest [15][36] - OpenAI is preparing for an IPO expected in the second half of 2026, with a potential valuation reaching 12 digits [16][36] Summary by Sections Industry Performance - The media sector's performance this week ranked 18th among all sectors, with notable gainers including BlueFocus, Yue Media, and Fushi Holdings, while losers included Giant Network and ST Huatuo [11][12][13] Key Data Tracking - The box office for the week (October 27 - November 2) reached 213 million yuan, with the top three films being "Life of Langlang" (37 million yuan, 17.5% share), "Improv Murder" (35 million yuan, 16.1% share), and "Eagle Warrior: Last Strike" (29 million yuan, 13.6% share) [17][19] - In the gaming sector, the top three mobile games in September 2025 were "Whiteout Survival" and "Kingshot" by Didi Interactive, and "Gossip Harbor: Merge & Story" by Lemon Microfun [24][26] Investment Recommendations - The report suggests a continued positive outlook on the gaming sector, particularly focusing on new product cycles and IP trends, recommending stocks such as Giant Network, Kaiying Network, and Jibite [3][36] - It also highlights the potential for growth in AI applications across various sectors, including animation, advertising, and education [3][36] Company Earnings Forecasts - Key companies such as Kaiying Network, Fenjun Media, and Mango Super Media are rated as "Outperform the Market," with projected earnings per share (EPS) for 2025E being 1.01, 0.39, and 0.76 respectively [4][38]

Core Viewpoint - The resurgence of action scenes in Chinese entertainment is becoming a focal point, with significant developments expected by 2025, as evidenced by the success of films and series that emphasize high-quality action sequences [1][3]. Film Industry - The film "Capturing the Wind" has grossed over ten billion, showcasing a shift in action films that no longer rely solely on traditional tropes [1]. - The film features a younger cast from the post-95 and post-00 generations, indicating a new direction for action films in China [1]. Television Industry - Recent series have focused on enhancing action scenes with improved special effects, costume design, and original soundtracks, leading to a notable increase in audience engagement [3][5]. - Series such as "Dark River" and "Water Dragon Chant" have adopted a more anime-like aesthetic in their action sequences, which has become a key point of discussion among viewers [6][7]. - The current trend in action scenes is driven by the demands of short video promotions and fan expectations, leading to a collaborative effort to elevate the quality of action in long-form dramas [5][8]. Audience Engagement - The audience's preferences for action scenes have become clearer, with a demand for more dynamic and visually engaging sequences rather than the traditional slow-motion effects [9][14]. - The rise of social media has made it easier for audiences to critique and share their opinions on action scenes, influencing the production standards [8][9]. Historical Context - The evolution of action scenes in Chinese dramas has been influenced by the film industry, with earlier styles being replaced by more dynamic and visually appealing techniques [11][12]. - The decline of traditional action films in the 2010s has led to a stagnation in the quality of action scenes in dramas, which are now beginning to draw inspiration from anime and gaming [14][19]. Future Directions - The industry is exploring new ways to innovate action scenes, with a focus on integrating elements from anime and gaming to enhance viewer experience [14][21]. - The effectiveness of action scenes in dramas will depend on their ability to complement the overall narrative and engage the audience emotionally [19][21].

Core Viewpoint - The article discusses the evolving aesthetic trend in the entertainment industry, particularly the "嬷化" phenomenon, where male actors are increasingly portrayed with delicate and fragile characteristics, challenging traditional masculinity [1][10]. Summary by Sections Stage 1: Economic Suitable Men - The early 2010s saw the dominance of the "economic suitable man" archetype, represented by actors like Tong Dawei, who portrayed stable, warm, and reliable characters [3][4]. - These characters reflected a societal shift towards valuing stability and emotional support in relationships, resonating with female audiences seeking reliable partners [5]. Stage 2: The "Wimp" Archetype - As societal pressures increased and women's self-awareness grew, the "economic suitable man" image became less relatable, leading to the emergence of the "wimp" archetype, exemplified by actors like Lei Jiayin and Guo Jingfei [6][7]. - These characters, often flawed and vulnerable, allowed female viewers to empathize with their struggles, reflecting a more complex understanding of masculinity [7]. Stage 3: The "Good Husband" Trend - The "wimp" archetype evolved into the "good husband" trend, represented by actors like Bai Ke, who embody a service-oriented, emotionally supportive male figure [8][9]. - This character type provides a sense of security and emotional stability, appealing to audiences in uncertain times [9]. Stage 4: The "嬷化" Trend - The "嬷化" trend marks a significant shift where male actors and their teams actively design and market a more delicate and feminine image, moving from passive acceptance to proactive engagement with audience expectations [10][16]. - This trend is characterized by a collaborative effort to redefine male aesthetics, allowing actors to gain empathy and increase their appeal in a competitive market [16]. Notable Examples - Actors like Cheng Yi and Luo Yunxi exemplify the "嬷化" aesthetic through their roles and public personas, emphasizing fragility and beauty in their portrayals [2][12]. - The trend is not limited to television but extends to idol groups and other entertainment forms, showcasing a broader cultural shift towards embracing softer male images [15].