Dongwu Securities: Maintain Chinese online "buy" rating, optimistic about the potential of AI+short drama business According to a report by Golden Finance on June 16th, Dongwu Securities Research Report stated that Chinese online investors in short drama overseas film and television bases are optimistic about the potential of AI+short drama business. On June 10th, the company introduced the latest progress of its short drama business at Hengqin International Film and Television City. The company and Hengqin Guidance Fund carried out an overall indoor and outdoor upgrade and transformation of the original Huafa Hengqin Financial Industry Service Base, creating nearly a hundred high-quality film and television shooting scenes and building a professional micro drama base. Relying on the company's own filming base, FlareFlow has significantly shortened the production cycle of high-quality short dramas. The AI drama business has shifted from technology validation to large-scale production, becoming a new growth pole. The average weekly token consumption of the company in Q1 2026 has increased by over 20% compared to the previous period, and the annual production capacity of high-quality AI dramas has exceeded a thousand units. The AI drama business is becoming a new engine driving the company's high-quality growth. Still optimistic about the business potential of the company as a global leader in short dramas and the industry opportunities of AI+short dramas, while looking forward to the business progress of Reelshot and maintaining the company's "buy" rating.