Longban Media, a state-owned publishing enterprise based in Heilongjiang, is primarily engaged in the distribution of textbooks and supplementary materials for primary and secondary schools. In the first half of this year, the company experienced an increase in revenue; however, its profits took a hit, with the net profit attributable to shareholders plummeting by 34.46% on a year-on-year basis. The semi-annual report unveiled that the first AI comic drama, Back to 1988, has garnered over 120 million views. Buoyed by the popularity of Mango Supermedia's AIGC long-form drama, Longban Media's stock price soared to the daily limit for seven consecutive trading days starting from August 31. This surge resulted in a cumulative increase of nearly 100% in its stock price, with its market value catapulting from 4.3 billion to 8.3 billion. Nevertheless, the company later revealed that the revenue generated from its AI video business was a mere 80 yuan in June and approximately 75,000 yuan in July, constituting less than 0.01% of its total revenue. Moreover, the company had previously made inconsistent information disclosures, prompting a regulatory warning from the Shanghai Stock Exchange. The stark contrast between the AI business's revenue and its viewership is remarkable, yet it has still managed to drive a 4 billion increase in market value.
