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Recently, the General Office of the Zhejiang Provincial Government issued the "Implementation Opinions on Accelerating the High-Quality Development of the Large Audiovisual Industry" (hereinafter referred to as the "Implementation Opinions"), which will come into effect on August 1.

The "Implementation Opinions" require that by 2027, a large audio-visual industry with an annual operating income of over one trillion yuan will be created, three trillion-level industrial clusters of audio-visual content production, audio-visual electronic products, and audio-visual cultural services and several tens of billions of new market segments will be cultivated, eight national-level large audio-visual industrial bases (parks) and more than 40 provincial-level key large audio-visual industrial bases (parks) will be built, and more than 500 provincial-level key enterprises in the audio-visual field will be cultivated, making it a leading national large audio-visual industry development base.

The audio-visual industry is entering a period of profound change

Last September, when the national leaders visited Zhejiang, they gave Zhejiang a new positioning and new mission and put forward new requirements for cultural construction. They required Zhejiang to actively explore the construction of modern civilization of the Chinese nation and strive to promote the comprehensive development of cultural undertakings and cultural industries.

The Fourth Plenary Session of the 15th Zhejiang Provincial Committee proposed the comprehensive implementation of Zhejiang's exploration of "Ten Actions" in the construction of a modern Chinese civilization, and "developing the large audio-visual industry" is one of the important sections.

The so-called big audio-visual industry refers to the various audio-visual formats that, driven by new technologies, especially new information network technologies, have broken the previous segmented pattern and formed an integrated industrial cluster consisting of audio-visual and "audio-visual +" industries.

Its core layer is mainly based on radio, television and online audio-visual industries, including advertising, cable TV network services, program copyrights, smart radio and television and integrated services, audio-visual industry bases (parks), etc.; the extended layer is composed of audio-visual derivative industries, which are the integrated development formats of digital audio-visual and culture, technology, tourism, performing arts, medical care, education, health care and other fields of social life.

Today, the audio-visual industry is undergoing a profound transformation. If you ask what is the hottest technological innovation in the audio-visual field, artificial intelligence technology is undoubtedly the most popular. The breakthrough development and innovative application of AI have brought about a "quality and efficiency" transformation in the audio-visual industry. At the same time, through deep integration with content, it continues to promote audio-visual products to achieve more creativity, higher efficiency, newer experience and higher quality.

The "Implementation Opinions" clearly propose to promote the research and development and application of artificial intelligence in the audio-visual field, accelerate the research and development and innovative application of artificial intelligence technologies such as generative artificial intelligence (AIGC), intelligent news generation and publishing, content review assistants, and virtual digital humans in the fields of audio-visual material search, content creation, and dissemination and promotion.

In addition, we will promote the updating and technological transformation of large audio-visual industrial bases (parks) and corporate audio-visual production equipment, deeply apply computing centers and cloud computing platforms, and accelerate the construction of new infrastructure such as media resource libraries and high-tech studios. We will promote the application of front-end production and broadcasting systems, ultra-high-definition audio and video network live broadcast systems and other equipment systems in radio and television, network live broadcast, new media and other fields.

In terms of promoting the application and consumption of audio-visual electronic products, the Implementation Opinions pointed out that we should create new scenarios for audio-visual electronic consumption, focus on emerging technology fields such as new displays, promote enterprises to participate in the construction of innovative scenarios such as digital cities, and form a number of typical cases. We should carry out the old-for-new campaign for audio-visual electronic products and promote the entry of products such as 4K/8K TVs into households.

Good news for listed companies in the media and communications sectors

It is reported that Zhejiang will establish a "horse racing" mechanism to cultivate the audio-visual industry, dynamically select the most competitive technologies, products and enterprises in key areas and provide support. Among them, "specialized, sophisticated and innovative" enterprises in subdivided fields such as audio and video, commercial display, smart sensors and chips will receive key support, and listed companies in the media and communications sectors are expected to usher in a new round of favorable policies.

According to data from Tonghuashun, among the A-share listed companies in Zhejiang, there are 17 listed companies in the media industry. Among them, the total market value of seven companies, including Century Huatong, Zhejiang Edition Media, Perfect World, Tom Cat, Wasu Media, Huace Film and Television, and Zhejiang Digital Culture, exceeds 100 billion yuan.

Century Huatong focuses on three business sectors: Internet games, artificial intelligence cloud data and automobile parts manufacturing. After years of development, the company's game business has formed a complete ecosystem integrating R&D, global distribution and operation, and has many game business subsidiaries including Shengqu Games (formerly "Shanda Games"), Diandian Interactive, Tianyou Software, Qiku Network, etc.

In recent years, Century Huatong has launched a number of practical applications in digital technology empowering the real economy. For example, its "Artificial Intelligence Cloud Data Division" has transformed and upgraded to AI+IDC, combining IDC operation and maintenance services with AI computing power business to form a comprehensive computing power operation and maintenance platform. In addition, the company continues to pay attention to emerging technology fields and strengthen its layout through investment and cooperation.

Talking Tom is an all-in-one IP ecological operator with online and offline coordinated development centered on the Talking Tom Family IP. The company meets the cultural and entertainment needs of users through the production and distribution of high-quality content such as online mobile applications, animation and film and television. Offline, it develops chain formats such as IP derivatives and licensing businesses, new commercial service businesses, and develops new consumer interactive experience scenarios, creating the Talking Tom Family IP parent-child brand, and continuously enriching the cultural connotation of the Talking Tom Family IP.

In 2023, Tom Cat will take AI products as an important development direction. The company is working with high-quality content partners to enrich the product content of Tom Cat AI storytelling. The company's AI hardware team is developing an AI voice interaction companion robot based on generative artificial intelligence technology, which is expected to bring new application scenarios to the company's products. In addition, the company has also made a strategic investment in West Lake Xinchen, a large model R&D team focusing on emotional interaction, and established a joint venture with it controlled by the company.

According to data from Tonghuashun, currently among the A-share listed companies in Zhejiang, there are a total of 12 listed companies belonging to the communications industry.

Pingzhi Information is a core supplier of equipment and content for communication operators. Over the past 20 years since its establishment, its business scale and scope have continued to expand.

In the field of digital reading, Mercedes-Benz Information has been deeply involved in it for more than ten years. Relying on its own mobile reading platform, it has accumulated rich operating experience and user behavior data. As of the end of 2022, the company has more than 60,000 text reading products of various types and more than 37,000 original works by contracted authors. In the field of audio, the company has more than 8,000 audio works with a duration of nearly 60,000 hours and more than 20,000 hours of self-made audio content.

In recent years, relying on the advantages of its traditional main business, Pingzhi Information has entered the field of computing network construction and computing power leasing and entered the AI ​​big model MaaS service, opening up the entire AI chain from the infrastructure supply side to the application side, which not only meets customer needs, but also provides broad space for the company's future performance growth.