Guangda Securities: Maintains a "buy" rating on Alibaba Pictures Group (00772.HK) and focuses on the progress of the launch of new LeTV series.

According to the Wisdom Financial APP, Guotai Junan Securities released a research report stating that Yuewen Group (00772.HK) is a rare IP full industry chain leading company, with stable online reading business and continuous incubation of new IP; benefiting from the impressive performance of new businesses such as short dramas and IP derivative products, as well as future expansion in AI comics and dramas, Yuewen's self-owned profits are expected to continue to improve; as for New Classics, the reserve series is expected to be launched one after another, the company's full-year performance growth certainty is relatively high, maintaining adjusted net profit attributable to mother forecasts of 1.35/1.53/1.66 billion yuan for 25-27 years, maintaining a "hold" rating.