China Galaxy Securities released a research report saying that since 2025, due to AI-related catalysis and recovery on the performance side of some industries, the industry showed a marked increase during the year, but this increase has basically leveled off within 2026. Looking forward to the future, the core of the media industry is still the production and creation of high-quality content. It is in the middle and upper reaches of the media industry chain and value chain, and has always been a scarce resource for the industry. Therefore, the long-term value of high-quality content production companies remains unchanged. The bank believes that although the early market style favors hardware-side AI infrastructure, with the continuous development of hardware-side AI infrastructure, it will eventually spread to the downstream sector of the industrial chain. Performance driver+AI empowerment is still the core driving force for the growth of the media and Internet industry.

China Galaxy Securities released a research report saying that since 2025, due to AI-related catalysis and recovery on the performance side of some industries, the industry showed a marked increase during the year, but this increase has basically leveled off within 2026. Looking forward to the future, the core of the media industry is still the production and creation of high-quality content. It is in the middle and upper reaches of the media industry chain and value chain, and has always been a scarce resource for the industry. Therefore, the long-term value of high-quality content production companies remains unchanged. The bank believes that although the early market style favors hardware-side AI infrastructure, with the continuous development of hardware-side AI infrastructure, it will eventually spread to the downstream sector of the industrial chain. Performance driver+AI empowerment is still the core driving force for the growth of the media and Internet industry.