传媒行业周观察：游戏进入击球区+GPT更新关注传媒资产反弹潜力

华创证券2025-12-08

【市场观点】上周传媒（申万）指数整体下跌3.86%，同期沪深300 指数整体上涨1.28%，板块跑输沪深300 指数5.14%，位列所有板块第31 位。我们认为当下传媒板块需要锐度和配置并重；看好今年成为中国开源大模型的爆发及应用格局重塑之年。第一步为公有云价值重塑+产业重回增长（阿里云+腾讯云，以及产业链相关公司）。第二步为有平台有用户有场景，但缺少大模型能力赋能或此前没有下定决心的公司（如B ...

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传媒行业周观察：游戏进入击球区+GPT更新 关注传媒资产反弹潜力

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传媒行业周观察：游戏进入击球区+GPT更新关注传媒资产反弹潜力