[Li Liang of Douyin: Tencent's Short Drama and Short Video Growth Far Exceeds Douyin and Hongguo] Li Liang, Vice President of Douyin Group, stated in an article that among internet products, only instant messaging has a relatively stable market structure due to its social network as a moat. Short dramas and short videos belong to a highly competitive industry with fierce market competition and rapid market changes. No single company can consistently hold the top market position. The reality is that Tencent's growth rate in short dramas and short videos far exceeds that of Douyin and Hongguo.