本报记者(记者李勇)2025年12月18日，以"前沿技术赋能数字文娱新生态"为核心议题的2025中国数字文 娱大会在广州盛大启幕。在这场聚焦国内数字文娱领域高质量发展的盛会上，北京捷成世纪科技股份有 限公司(以下简称"捷成股份（300182）")首席技术官张俊祺发表的《影视理解大模型如何改变影视工 业》主题演讲，首次系统性地披露了捷成股份自研的四阶影视视频理解大模型如何重构影视工业全链 路，引发广泛关注。张俊祺还在会上宣布，基于该技术的"视觉智能中枢"已实现产业化落地且达成多项 重磅合作。 AIGC技术催动文娱产业高速发展的当下，行业普遍存在"高理解成本、低表达效率"的核心痛点，难以 满足影视工业级生产需求。而破解这一发展瓶颈的关键，正是工业级影视视频理解技术。 捷成股份此次发布的四阶影视视频理解大模型，构建了行业首个标准化技术评价框架。L0记忆层作为 基础核心，具备视觉记忆检索、自然语言匹配、名场面定位能力，即便用户仅能描述"足球场被嘲笑组 队失败搞笑"这类模糊场景，也能精准命中《少林足球》经典桥段，破解影视内容检索难题；L1复述层 堪比资深影迷，可将《盗梦空间》等多层嵌套的非线性叙事，重组为逻辑清晰的主线 ...

Core Insights - The collaboration between Jiecheng Co. and "Wangwang Mountain Little Monsters" has successfully expanded into a new "playable and edible" product line, showcasing the company's innovative approach in the IP sector [1][3] - Jiecheng Co. has established a comprehensive strategy in the IP field, focusing on resource-based copyright business and leveraging AIGC and innovative ventures to create a full industry chain operation model [1][2] Group 1: IP Development and Strategy - Jiecheng Co. has accumulated over 100,000 hours of film, animation, and program copyright content, collaborating with over a thousand production companies domestically and internationally, which strengthens its foundation for developing IP derivatives [1] - The company has achieved significant sales success with previous collaborations, such as the "Wangwang Mountain Little Monsters" series, which sold over 3 million units and generated over 30 million yuan in revenue [1] Group 2: Product Diversification and Consumer Engagement - In addition to the "Wangwang Mountain Little Monsters" series, Jiecheng Co. has partnered with other well-known IPs like "The Smurfs" to launch a variety of derivative products, including plush toys, blind boxes, cards, and cultural memorabilia, catering to diverse consumer preferences [2] - The company is actively building its own distribution channels, including offline theme stores, pop-up shops, and online platforms, enhancing consumer interaction and brand loyalty [2] Group 3: Technological Support - Jiecheng Co.'s technological capabilities, including its self-developed AI creative engines "ChatPV" and "Lingxi," enable rapid generation of derivative content based on its copyright library, significantly increasing IP exposure and distribution frequency [2][3] Group 4: Future Outlook - The ongoing collaboration with "Wangwang Mountain Little Monsters" reflects the company's ability to innovate and meet market demands, while also demonstrating recognition of its comprehensive strength by IP partners [3] - With the continuous advancement of its IP strategy, Jiecheng Co. is expected to build a robust IP ecosystem that integrates content platforms and well-known brand resources, enhancing both cultural and commercial value [3]

Summary of Key Points from the Conference Call Industry and Company Overview - **Companies Involved**: Meituan, ZhiDeMai, Kunlun Wanwei, Huanrui Century, BlueFocus, JieCheng, and others - **Industry Focus**: AI applications, e-commerce, local services, semiconductor industry, and liquid cooling technology Core Insights and Arguments 1. **Meituan's AI Agent "XiaoMei"**: - Upgraded to execute complex tasks, enhancing user experience and making AI-driven local services more tangible [2][3] - Utilizes extensive data from Meituan's ecosystem for task execution [3] 2. **ZhiDeMai's "Zhang DaMa" App**: - Launched to assist users in product selection and multi-platform comparisons, particularly in the 3C category [2][4] - Future monetization may come from value-added services, subscription models, or commission-based revenue [4][5] 3. **Kunlun Wanwei's AI Revenue**: - Generated approximately 65 million yuan in AI revenue in the first half of the year, targeting an annualized AR of 150 million USD [2][6] - Focus on social and multi-modal applications, with rapid growth in its overseas short drama platform, Drama Wave [6][7] 4. **Huanrui Century's AI Initiatives**: - Collaborating with Yuexingchen to develop AI technologies for micro-short drama creation and content production [2][10] - Plans to launch interactive games incorporating AI-generated content by Q4 2025 [11] 5. **BlueFocus's AI-Driven Marketing Growth**: - Achieved 1.57 billion yuan in AI-driven revenue in the first half of the year, with expectations to reach 3-5 billion yuan for the full year [2][14] 6. **Liquid Cooling Market Trends**: - Demand driven by North American GPU iterations and increased domestic penetration, with significant revenue growth reported [2][26] - Domestic manufacturers poised to benefit from insufficient Taiwanese production capacity [26] 7. **Impact of Anti-Dumping Investigation on Semiconductor Industry**: - The Ministry of Commerce's investigation into U.S. imported analog chips is expected to alleviate competitive pressure on domestic IC companies [2][21] - Companies like NaXinWei are likely to benefit from reduced competition and increased market share [21][24] Other Important Insights 1. **AI Application Commercialization**: - The commercial prospects for AI applications are becoming clearer, with emerging new revenue streams anticipated [2][16] 2. **Meituan vs. Alibaba Competition**: - Intense competition in the flash purchase market, with Meituan adopting a more reactive strategy compared to Alibaba's proactive measures [2][17][18] 3. **High-Quality User Acquisition by Alibaba**: - Alibaba is enhancing its membership system to attract high-quality users, integrating various services to increase user engagement [2][19][20] 4. **Thermal Interface Materials (TIM) Market Growth**: - The market for TIM in China has grown significantly, with a compound annual growth rate of 14% from 2018 to 2023 [2][28] 5. **Emerging Trends in Thermal Management**: - New materials like graphene and diamond are replacing traditional TIMs, enhancing thermal conductivity and performance [2][31][32] This summary encapsulates the key points discussed in the conference call, highlighting the advancements and strategic directions of the involved companies and industries.