Since February 2026, sectors related to AI applications in the A-share market have experienced a strong upward trend. Concurrently, thematic ETFs focused on film, television, and gaming have shown particularly outstanding performance, becoming a core focus for capital inflows. This market movement is largely driven by the gray launch testing of ByteDance's AI video generation model, Seedance 2.0, which has heightened market attention on the AI multimodal industry chain. This has injected strong momentum into the media sector, with related thematic funds seeing both net asset value and capital inflows rise, reflecting optimistic market expectations for the commercial implementation of AI applications.
The capital attraction effect of related ETFs has been significant. Recently, film, television, and gaming thematic ETFs collectively surged, posting impressive net value gains. Data shows that from February 9 to February 12, the ChinaAMC CSI Film & Television Thematic ETF saw its net asset value surge by 11.67%, while the Yinhua Fund's Film & Television ETF rose by 11.53%. From February 9 to February 11, these two funds recorded net capital inflows of 742 million yuan and 701 million yuan, respectively, making them the top film and television thematic ETFs by capital inflow.
In the animation and gaming thematic ETF space, from February 9 to February 12, the ChinaAMC CSI Animation & Gaming ETF, the Cathay CSI Animation & Gaming ETF, and the Huatai-PineBridge CSI Animation & Gaming ETF all posted net value gains of no less than 8.50%.
Media sector ETFs also strengthened simultaneously. From February 9 to February 12, the Penghua CSI Media ETF and the GF Fund CSI Media ETF saw gains of 5.93% and 5.89%, respectively. Notably, from February 9 to February 11, the GF Fund CSI Media ETF experienced a net capital inflow exceeding 400 million yuan, indicating high enthusiasm for capital allocation.
From the beginning of the year until February 12, although individual stock performance within the film and television concept sector was mixed, the overall trend was positive. Among them, Gold Streaming Science and Technology and Hengdian Film saw notable share price performance, while Bona Film Group and Chinese Online also accumulated considerable gains, providing solid support for the net asset value growth of related thematic ETFs.
Furthermore, sectors extending from the AI industry chain also benefited. For instance, AI-related ETFs on the STAR Market have been active, with ten SSE STAR Market AI-themed ETFs all achieving net asset value growth exceeding 13% year-to-date, demonstrating the market's increasing focus on the AI application end.
The technological breakthrough of Seedance 2.0 is seen as the core factor catalyzing this market trend. On February 7, ByteDance began gray testing of its AI video generation model, Seedance 2.0. Its core features, supporting synchronized audio-visual generation and completing video creation in 60 seconds, are expected to significantly reduce content production costs for short dramas and short videos, pushing AI video generation towards an industrial production phase.
Although the model currently faces controversies regarding privacy protection, copyright ownership, and ethical standards, institutions generally view its technological progress as a positive lever for the industry.
An expert indicated that AI's application value has become prominent in lightweight content creation segments like short videos, while its use in longer-form cinematic content creation is still exploratory. The film and television industry should actively embrace AI and research integrated development.
A professional in AI-generated comic series and interactive video content from Zhejiang noted that the technological iteration of Seedance 2.0 not only benefits directly related areas like comic series, TV/film production, and IP operations but will also drive development across the upstream and downstream industry chain, including AI computing power, audio-video technology, and content distribution. Simultaneously, the market holds high expectations for the model's subsequent iterations and its application in major high-traffic scenarios, which may further strengthen investment sentiment in the sector.
The long-term growth trajectory appears clear. As the uptrend in AI applications continues to heat up, institutions are broadly optimistic about the investment value of related sectors. Multiple institutions believe the restructuring of the media industry by AI technology has only just begun. The launch of Seedance 2.0 marks a shift for AI video generation technology from the laboratory to commercial application, offering vast potential for industry efficiency gains and cost optimization, with a clear long-term growth path.
Judging from capital flows and sector performance, market attention on the AI multimodal industry chain is steadily increasing. As the most direct application scenarios for AI, film, television, and gaming are poised to continue benefiting from technological advancements.
However, a senior researcher also cautioned investors to be wary of short-term risks: "The AI sector currently faces issues such as advanced investment expectations and elevated valuations for some targets. It is advisable to focus on companies with clear competitive advantages, outstanding technical capabilities, and strong commercialization potential, avoiding blindly chasing speculative hype on thematic trends."
Looking ahead, the researcher believes that as AI technology applications deepen within the media field and industry commercialization validation accelerates, the growth potential of sub-sectors like film, television, and gaming is likely to be further unleashed. For ordinary investors, participating in related sector investments through film, television, and gaming thematic ETFs can allow them to share in the industry's development dividends while diversifying risks associated with individual stock volatility. As more AI application scenarios materialize and technology iterates further, these thematic funds are expected to maintain long-term allocation value.
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