After the debut of 'Journey to the West Continued', the first AIGC long drama broadcast during prime time on a domestic satellite TV channel, the stock price of Mango Supermedia surged by the 20CM daily limit for two consecutive days, increasing its market value by over 10 billion yuan. Subsequently, capital began to focus on AI short drama-related stocks, leading to share price increases for several companies, including Huanrui Century. In Hong Kong stocks, Duiba saw a maximum increase of 336% over nine trading days. However, the interim reports reveal that the AI short drama businesses of most companies have not yet achieved scale. Only a few companies, such as Duiba, Kunlun Tech, and China Literature, have generated related revenue, each relying on different core assets, with AI serving merely as a production tool. While AI short dramas have significantly reduced production costs, they have also intensified supply competition, potentially driving up traffic costs. The industry now places greater emphasis on content curation, user data, and distribution capabilities. With the implementation of the 'Administrative Measures for the Development of Micro Short Dramas,' AI short dramas are moving away from unregulated growth. The industry will now compete based on IP, user base, traffic, hit-making, and monetization capabilities. The ability to consistently generate profits will determine the height of the next market cycle.