大中华区媒体 - 行业变迁与估值调整-Greater China Media-Industry Shifts and Valuation Adjustments
2025-10-14 14:44
October 13, 2025 10:49 PM GMT Greater China Media | Asia Pacific Industry Shifts and Valuation Adjustments We update our SMID Internet/Media coverage views. Our preference order is: IP (early stage for long-run growth); Live- streaming (JOYY/HUYA bottoming); Games (strong pipeline performance); Long video (regulation easing); and Film. We maintain OWs on Damai and 37IE, move Maoyan to EW from OW. We update our views on our small-mid cap (SMID) China Internet/Media coverage to reflect recent secular changes. ...