Southwest Securities Media Q4 2026 Strategy: Agent Iteration Matures; Bullish on AI Film/TV and AI Marketing
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Southwest Securities' Q4 2026 media strategy centers on maturing AI Agent technology restructuring productivity across film, television, marketing and office work.
China's micro-drama and AI-generated drama/animation market is projected to exceed RMB 121 billion in 2026 as AI reshapes cost structures; AI production sharply cuts film-making costs and timelines, with Mango Excellent Media's fully AI-produced long drama delivering strong viewership. AI marketing has entered large-scale commercialization, with leading vendors upgrading products to multi-agent collaborative systems. Chinese AI video models have broken through in long-form narrative and open-source ecosystems, and Chinese large-model API call volume has led the world for fifteen straight weeks.
Gaming remains a pillar: license approvals keep rising—July's domestic approvals hit the highest since 2024—and first-half 2026 actual sales revenue reached RMB 188.45 billion, up 12.17% year over year.
The firm favors AI film/TV, AI marketing and gaming, watching Mobvista's AI infrastructure launch, new-game launches and revenue ramp. Names: Mango Excellent Media (AI long drama), Bona Film Group (AI film), Mobvista (AI marketing), Kingnet, Giant Network and NetEase (games).