[Tianfeng Media & Internet] Bullish on Media Rebound, Games High Win Rate, Focus on Film/TV and AI Application Catalysts

English summary

This week, the media index rebounded for 4 consecutive days, with games/film-TV/marketing and other sub-sectors rotating upward. We believe the media sector has undergone a prolonged period of chip digestion. Current position is low + chips are good, coupled with some sub-sectors having not-bad fundamentals. Against the backdrop of external capital rebalancing, the media sector is currently #all ready except for the east wind. A little catalyst could ignite the sector. We strongly看好 the sustainability of the media rebound! Film/TV: It's the summer season, and we are optimistic about August highs. ①From a fundamental perspective, we have repeatedly emphasized that #supply improvement this year is a certainty. Currently, we are at a key time point for supply continuing upward (7/29 Spider-Man, 8/1 Annual Meeting 2, 8/14 Odyssey, 8/19 Go to Your Island, reserves Dragon Restaurant, Rebirth 2), and we are bullish on the overall August market. ②From a trading perspective, the market has only priced in the reality of July's marginal improvement. #The expectation of continued upward August highs has not yet been priced in! We are bullish on hit content igniting the broader market and the market.