“From SaaS to AI short-form dramas: Understanding the value revaluation logic of ‘the first AI short-form drama stock in Hong Kong stock market’”
# From SaaS to AI Short Stories: Understanding the Revaluation Logic of “The First Stock in Hong Kong’s AI Short Story Industry” – Duiba **Key Event**: On the evening of August 31, Hunan Satellite TV broadcast the first domestic AI long story “After Journey to the West” during its prime time. That night, KuYun achieved a peak viewership rate of 0.3384% and a market share of 1.7862%, ranking first among provincial-level satellite TVs. On the same day, Duiba (01753.HK) announced its mid-year results for 2026; its AI short story business generated 222.6 million yuan in revenue in half a year, accounting for more than half of the group’s total revenue of 443.7 million yuan, becoming the fastest-growing segment. **Industry Background**: Since the second half of 2024, video large models such as Qiling, Jiming, and Vidu have been made available, and AI-generated short stories have moved from PPT presentations to reality. After technological breakthroughs, the industry faces two major obstacles: the “Cave of Horror” and “loss of profitability”. **Duiba’s Differentiated Path**: - **Technical Level**: MiniMax opened the 33B full-modal video generation model (H3) for open source; Volcano Engine released the Seedance 2.5 API; Ah…