Guoxin Securities released a research report on April 12 stating that it gave Zhejiang Digital Culture (600633.SH) an increase in its holdings rating. The main reasons for the rating include: 1) the adjusted revenue of the social business fell by 40.7%, and changes in the value of financial assets affected net profit for the whole year; 2) the share of the game business rebounded, and gross margin increased 6.9 percentage points year-on-year; 3) the winger network laid out a new digital marketing circuit, and the communication model continued to be updated. (Mainichi Keizai Shimbun)