China AI app shares jump after ByteDance unveils new model
Shares of Chinese media and artificial intelligence application companies rallied after ByteDance unveiled a new video-generation model that impressed analysts with the quality of its content creation.
Publishing firm COL Group Co. surged to its 20% daily upper trading limit, while Shanghai Film Co. and gaming and entertainment group Perfect World Co. each climbed about 10%, News.Az reports, citing Bloomberg.
The onshore benchmark CSI 300 Index rose 1.4%.
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The gains followed ByteDance’s Feb. 7 launch of Seedance 2.0, the latest version of its AI video-creation application. The rollout drew strong market attention after early evaluations highlighted the high quality of the generated clips. ByteDance is also the parent company of the short-video platform TikTok.
The debut of Seedance 2.0 reflects renewed investor enthusiasm for domestically developed AI technologies, a trend that helped drive a bull run in China’s stock market last year. The app’s release sparked widespread discussion across the industry, with analysts suggesting it could represent a turning point for AI use in film and television.
Analysts at Kaiyuan Securities, including Fang Guangzhao, wrote in a research note that the product may mark a “singularity moment” for AI in screen-based content creation. They said test results were impressive, noting support for text, image, video and audio inputs, along with breakthroughs in several core capabilities. Companies with strong intellectual property portfolios and platform traffic are likely to benefit, they added.
Interest in Chinese firms offering so-called “killer apps” has been building in recent months. Another example is Kuaishou Technology’s AI video-generation tool Kling, which has gained traction among global users. As of Jan. 2, Kling ranked as the top-grossing graphics and design application on iPhones in South Korea and Russia.
By Nijat Babayev
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