A recent research report by Dongwu Securities pointed out that they are optimistic about the increase in the supply of high-quality content and the continued release of demand for movie viewing. The film and television industry is expected to continue the strong recovery trend. At the same time, attention is being paid to the iterative breakthroughs of multi-modal models such as Sora in 2024, which is expected to bring about changes in the film and television industry. The content side continues the trend of high-quality supply in 2024, and the box office of New Year's Day and Spring Festival movies all exceeded market expectations, breaking film history records, and looking forward to the future. We are still optimistic about the strong release of market demand after the high-quality content supply is repaired, which will drive the further recovery of the industry.