According to a research report by CICC, AI-driven gaming is projected to reach 30x in 2023. This year, the EPS is actually more realistically revised, driven by a strong economy, and an improved market structure. Both leading and mid-sized companies are doing well this year, with the broader market expanding (domestic self-developed online games increased by 20% in the first half of the year, primarily due to improved ARPPU). Furthermore, after the interim report, valuations will shift to next year, and gaming will have excellent sustainability. In terms of performance, the third quarter will be a better quarter (due to a summer revenue boom), with upcoming releases like Valorant M, Master of War, Nine Pastures, Ysher (Chinese version), and Alien Ring. This year, the gaming sector has seen significant cost savings, leaving room for profit revisions. New content communities like Taptap and Xiaohongshu are on the rise, and CPs are rigorously assessing ROI. Traditional volume acquisition is declining, and AI is significantly boosting the production capacity of mid-sized companies.