[CITIC Securities: ByteDance Seedance 2.0 Video Model Released, Continues to Favor AI Comics] CITIC Securities' research report states that ByteDance's Seedance 2.0 video model has been released, showcasing a leap in multimodal model capabilities, with the potential to revolutionize the film and television industry. It continues to favor AI comics: 1) AI comics are one of the few sectors with low risk of being replaced by large models and high industry growth. Compared to film, television, and gaming, large models have essentially met the creative needs of AI comics. AI comic production companies are downstream application entities of large models, facing minimal risk of replacement by these models. 2) High token demand, with model companies supporting industry development. Depending on the type of AI comic, token consumption per minute ranges from 500,000 to several million, with the creation of a single AI comic requiring over a billion tokens. The strategic support and preferential policies provided by large model companies to the AI comic industry bring significant opportunities for development. 3) Intense platform competition, with production companies having profit margins. Various AI comic platforms are continuously upgrading their revenue-sharing and traffic support policies, enhancing the profit margins of AI comic production companies. (People's Financial News)