Zhongyuan Securities: continue to be optimistic about the game, publishing, and IP directions in the media sector.

Zhongyuan Securities research report indicates that they continue to be optimistic about the direction of sub-sectors such as games, publishing, and IP derivatives in the media sector. The performance of the games and publishing sectors is strong and sustainable, and the demand for IP derivatives in the market is currently strong, with great potential for future growth. The performance of the film and television sector in Q2 was relatively weak, but on one hand, with the release of summer blockbusters in Q3, the demand for film viewing is expected to increase, and on the other hand, some film and television companies are exploring IP derivative business, which is expected to improve revenue structure.