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

Zhongyuan Securities research report indicates that the media sector continues to look favorably on sub-sectors such as gaming, publishing, and IP-derived products. The gaming and publishing sectors have strong performance certainty and sustainability, while the IP-derived product market currently has strong demand and great growth potential in the future. The performance of the film and television sector in Q2 was relatively weak, but on the one hand, the demand for movie viewing is expected to increase in Q3 due to the summer vacation period, and on the other hand, some film and television companies are exploring IP-derived businesses, which may improve revenue structure.