Group 1 - Alibaba Pictures has seen a significant stock increase of over 17%, with a cumulative rise of nearly 1.4 times since May 20, reaching HKD 1.12 per share and a trading volume of HKD 613 million [1] - CICC's research report suggests that Alibaba Pictures should consider rebranding to Damai Entertainment, focusing on four strategic directions: content leadership, user growth, enhanced commercial derivative capabilities, and active overseas expansion [1] - The report highlights the entertainment sector's peak season from May to October, with a projected 5.1% year-on-year growth in ticket sales for large-scale performances during the 2025 May Day holiday [1] Group 2 - Huachuang Securities indicates a strong recovery for the company in 2025, with a stable market share for Taopiaopiao and several major films like "Catching Spies" and "East Extreme Island" expected to contribute to growth [2] - The live performance sector is anticipated to continue its growth trajectory, with Damai leading in the primary ticketing market and benefiting from this growth [2] - Alibaba's IP derivatives, including partnerships with brands like Sanrio and Pokémon, are expected to enhance revenue through e-commerce channel development and brand incubation [2]