传媒年度策略：AI+IP双轮驱动传媒攻守兼备

中泰证券股份有...2025-12-16

核心观点：主线①：AI落地的三条主线：端侧入口成型、模型能力实用化迭代、多模态工具成熟。建议关注AI漫剧、AI游戏、AI教育、AI营销、AI出版。AI漫剧：边际变化明确，受益于多模态技术迭代，供给及需求增速迅猛，AI漫剧推动生产效率提升3倍以上，费用缩减90%以上，平台政策支持漫剧进入高品质增长阶段。AI游戏：研发环节AI渗透率持续提升，轻度休闲以及交流互动类游戏有望先行实现AI化，未来看好AI...

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Mining（CIFR.O）等；港股建议关注：阿里巴巴、腾讯控股、快手-W、阅文集团、汇量科技等；A股建议关注：AI 漫剧（荣信文化、欢瑞世纪、易点天下、中文在线等）、AI 营销（易点天下、蓝色光标、分众传媒等）、AI 游戏（恺英网络、世纪华通、巨人网络等）、AI 教育及出版（豆神教育、南方传媒、世纪天鸿等）。IP：建议关注：泡泡玛特、大麦娱乐、阅文集团、巨星传奇、上海电影、荣信文化、奥飞娱乐等。传媒板块攻守兼备。建议关注：游戏（世纪华通、恺英网络、巨人网络、三七互娱、完美世界、吉比特等）；电影（中国电影、光线传媒、万达电影、横店影视、幸福蓝海、华策影视、上海电影、中国儒意、猫眼娱乐、大麦娱乐、捷成股份等）；出版（山东出版、中原传媒、长江传媒、南方传媒、凤凰传媒、中南传媒、新华文轩、浙版传媒、皖新传媒、时代出版、中文传媒、内蒙新华）。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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传媒年度策略：AI+IP双轮驱动 传媒攻守兼备

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传媒年度策略：AI+IP双轮驱动传媒攻守兼备