Core Insights - The mobile game "Zhu Xian 2," launched by Perfect World, achieved significant success by topping the iOS free chart on its first day and ranking high on multiple platforms [1][3] - The game integrates traditional Chinese aesthetics with advanced technology, making it a highly anticipated title in the fantasy RPG genre for 2025 [3][5] - A recent offline event, the "Summer Game Festival," attracted over 200,000 participants across major cities, showcasing the game's immersive experience and strong player engagement [1][3] Technology Empowerment - "Zhu Xian 2" is the first mobile game globally to utilize HarmonyOS NEXT cloud ray tracing technology, enhancing visual performance by offloading some rendering calculations to the cloud [5][6] - The game features advanced graphics capabilities, including a global lighting system and dynamic weather effects, which significantly improve the immersive experience [6][7] - The collaboration with Huawei has allowed the game to leverage AI super-resolution technology, doubling the detail and stability of graphics [5][6] Brand Synergy - The partnership between Huawei and "Zhu Xian 2" is aimed at expanding the younger user demographic while enhancing cross-device and cross-platform experiences [7][9] - This collaboration exemplifies a successful model for integrating technology and cultural content, enriching user experiences and promoting the fusion of domestic technology and culture [7][9] - Industry experts note that such collaborations are enhancing the competitiveness of domestic games and hardware manufacturers in the global market [8][9] Future Outlook - Perfect World and Huawei plan to deepen their collaboration in technology development, scene innovation, and global expansion, aiming to elevate Chinese original IPs and technologies on the international stage [9]

Investment Rating - The report maintains a positive outlook on the media industry, particularly focusing on AI applications and their impact on content creation and mergers and acquisitions [1][2]. Core Insights - The report emphasizes the launch of DeepSeek's open-source week and the release of GPT-4.5, highlighting the ongoing developments in AI applications and their potential to empower content sectors and drive M&A activities [1][2]. - It suggests that the film industry is entering a low season, with a focus on how AI can enhance film and television productions, while the gaming sector is expected to benefit from AI integration [2][6]. - The report also notes the importance of monitoring the performance of AI-driven products and tools, particularly in the "Chat" category and algorithm-based applications [2][6]. Summary by Sections Industry News - DeepSeek has launched five open-source projects, indicating a trend towards lower training costs and increased accessibility for AI models, which could enhance creative possibilities [3][6]. - The gaming sector is advised to focus on companies with strong fundamentals and active AI strategies, with a current valuation midpoint of 15X PE for gaming companies with a market cap over 15 billion [3][6]. - The report discusses the recent announcement by Tangde Film and Television regarding a private placement, which is part of a broader regulatory push to stimulate M&A activities in the industry [3][6]. - The film industry is noted to be entering a seasonal lull, with a focus on the impact of AI on content quality and production efficiency [3][6]. Weekly Data Tracking - The total box office from February 22 to February 28 was 1.47 billion yuan, reflecting a 44.78% decrease from the previous week, primarily due to the end of the Spring Festival season [26]. - The average ticket price during this period was 44.3 yuan, slightly down from 45.4 yuan the previous week [26]. - In the television sector, the top three shows maintained their positions, with a notable decline in overall viewership for the week [29][30]. Company Updates - Focus on companies like Fei Ying Network and Mango Super Media, which are actively integrating AI into their operations and content strategies [6][7]. - The report highlights the strategic moves of major players in the industry, such as the collaboration between Fei Ying Network and Hong Kong Yuan Da Future to advance AI model technology in gaming [9]. - The report also mentions the ongoing efforts of companies like Wanda Film to leverage AI for enhancing production efficiency and market share [12].