On June 14th, Gelonghui | China Lit Group (0772.HK), which rose 3.8% yesterday, continued to rise against the trend today, up 4.02% intraday to HKD 28.45, a new high for more than three weeks; temporarily trading HKD 150 million, the latest market value is HKD 29.2 billion. On the news front, the IP ecology of China Lit Group has continued to produce "blockbuster hits" since this year. The Spring Festival box office champion "Hi, Mom" created a box office of 3.46 billion yuan, which is also the highest-grossing Chinese-language film overseas this year; "The Legend of Fei" set the highest record of popularity value for Tencent Video drama in 2024 during the broadcast, and it is also the highest-rated work on Hunan TV from the beginning of the year to the present; After the second season of "Joy of Life" was broadcast on CCTV-8, it set a record of 18 consecutive days of real-time audience ratings TOP1 on all channels nationwide, and also broke Tencent Video's multiple historical highs. It is also the highest-rated mainland Chinese drama broadcasted on Disney+; "The Story of Roses", which is being hotly broadcasted recently, also refreshed the fastest record of 30,000 hotness values for Tencent Video urban dramas. Open Source Securities pointed out that China Lit Group has a rich reserve of major IP products. In 2024, it may usher in the release of supply. We are bullish on the release of high-quality content to drive company performance growth and maintain a "buy" rating.