The Zhitong Finance app learned that short video concept stocks fell collectively. Yingyuzhou (03700) fell 4.95% to HK$0.96; China Youzan (08083) fell 3.31% to HK$0.117.

According to the news, recently, the three short video platforms WeChat, Douyin, and Kuaishou responded positively to the State Administration of Radio and Television's efforts to regulate and manage the ecology of the online short drama industry, and have successively banned a large number of accounts that post micro-short dramas in violation of regulations. In addition, Kuaishou removed more than 10 minor dramas that violated regulations, and at the same time, 13 accounts that posted illegal content were punished accordingly according to the extent of the violation. Douyin has been the most vigorous in this round of rectification. Recently, 119 illegal micro-dramas have been removed, and 1,188 Douyin accounts that promote micro-dramas in violation of regulations have been disposed of.

According to a research report released by Huajin Securities, the special rectification work for short dramas began as scheduled and has now begun to bear fruit. Supervision has been gradually improved over time, and a normalized management mechanism has gradually been formed. The continuous improvement and smooth implementation of regulatory policies relating to micro-dramas will contribute to the steady development of the industry.