Blog

BEIJING, Oct. 26 (Xinhua) — China will enhance high-quality financial services to better support the real economy, according to a report on the country’s financial work submitted for deliberation on Sunday to the Standing Committee of the National People’s Congress, the country’s top legislature.

Since November 2024, the financial sector has strengthened support for the real economy, the report said. Between November 2024 and September 2025, a total of 98 companies launched initial public offerings on the A-share market, with private firms and strategic emerging industries accounting for 86 percent and 92 percent of this total, respectively.

By the end of last month, loans to sectors such as science and technology, green development, inclusive finance, elderly care and the digital economy — all outpaced overall loan growth for the same period.

Looking ahead, China will focus on supporting key areas including technological innovation, consumption, small and micro businesses, and foreign trade, while strengthening coordination of fiscal, monetary and industrial policies.

The report also called for implementing a moderately loose monetary policy in a thorough and targeted manner, studying and preparing new policy measures, strengthening financial regulation, and enhancing protection of the rights of both financial consumers and investors.  ■

Scrolling through the Sora app can feel a bit like entering a real-life multiverse.

Michael Jackson performs standup; the alien from the “Predator” movies flips burgers at McDonald’s; a home security camera captures a moose crashing through the glass door; Queen Elizabeth dives from the top of a table at a pub.

Such improbable realities, fantastical futures, and absurdist videos are the mainstay of the Sora app, a new short video app released by ChatGPT maker OpenAI.

The continuous stream of hyperreal, short-form videos made by artificial intelligence is mind-bending and mesmerizing at first. But it quickly triggers a new need to second-guess every piece of content as real or fake.

“The biggest risk with Sora is that it makes plausible deniability impossible to overcome, and that it erodes confidence in our ability to discern authentic from synthetic,” said Sam Gregory, an expert on deepfakes and executive director at WITNESS, a human rights organization. “Individual fakes matter, but the real damage is a fog of doubt settling over everything we see,”

All videos on the Sora app are entirely AI-generated, and there is no option to share real footage. But from the first week of its launch, users were sharing their Sora videos across all types of social media.

Less than a week after its launch Sept. 30, the Sora app crossed a million downloads, outpacing the initial growth of ChatGPT. Sora also reached the top of the App Store in the U.S. For now, the Sora app is available only to iOS users in the United States, and people cannot access it unless they have an invitation code.

To use the app, people have to scan their faces and read out three numbers displayed on screen for the system to capture a voice signature. Once that’s done, users can type a custom text prompt and create hyperreal 10-second videos complete with background sound and dialogue.

Through a feature called “Cameos,” users can superimpose their face or a friend’s face into any existing video. Though all outputs carry a visible watermark, numerous websites now offer watermark removal for Sora videos.

At launch, OpenAI took a lax approach to enforcing copyright restrictions and allowed the re-creation of copyrighted material by default, unless the owners opted out.

Users began generating AI video featuring characters from such titles as “SpongeBob SquarePants,” “South Park,” and “Breaking Bad,” and videos styled after the game show “The Price Is Right,” and the ‘90s sitcom “Friends.”

Then came the re-creation of dead celebrities, including Tupac Shakur roaming the streets in Cuba, Hitler facing off with Michael Jackson, and remixes of the Rev. Martin Luther King Jr. delivering his iconic “I Have A Dream” speech — but calling for freeing the disgraced rapper Diddy.

“Please, just stop sending me AI videos of Dad,” Zelda Williams, daughter of late comedian Robin Williams, posted on Instagram. “You’re not making art, you’re making disgusting, over-processed hot dogs out of the lives of human beings, out of the history of art and music, and then shoving them down someone else’s throat, hoping they’ll give you a little thumbs up and like it. Gross.”

Other dead celebrity re-creations, including Kobe Bryant, Stephen Hawking and President Kennedy, created on Sora have been cross-posted on social media websites, garnering millions of views.

Christina Gorski, director of communications at Fred Rogers Productions, said that Rogers’ family was “frustrated by the AI videos misrepresenting Mister Rogers being circulated online.”

Videos of Mr. Rogers holding a gun, greeting rapper Tupac, and other satirical fake situations have been shared widely on Sora.

“The videos are in direct contradiction to the careful intentionality and adherence to core child development principles that Fred Rogers brought to every episode of Mister Rogers’ Neighborhood. We have contacted OpenAI to request that the voice and likeness of Mister Rogers be blocked for use on the Sora platform, and we would expect them and other AI platforms to respect personal identities in the future,” Gorski said in a statement to The Times.

Hollywood talent agencies and unions, including SAG-AFTRA, have started to accuse OpenAI of improper use of likenesses. The central tension boils down to control over the use of the likenesses of actors and licensed characters — and fair compensation for use in AI videos.

In the aftermath of Hollywood’s concerns over copyright, Sam Altman shared a blog post, promising greater control for rights-holders to specify how their characters can be used in AI videos — and is exploring ways to share revenue with rights-holders.

He also said that studios could now “opt-in” for their characters to be used in AI re-creations, a reversal from OpenAI’s original stance of an opt-out regime.

The future, according to Altman, is heading toward creating personalized content for an audience of a few — or an audience of one.

“Creativity could be about to go through a Cambrian explosion, and along with it, the quality of art and entertainment can drastically increase,” Altman wrote, calling this genre of engagement “interactive fan fiction.”

The estates of dead actors, however, are racing to protect their likeness in the age of AI.

CMG Worldwide, which represents the estates of deceased celebrities, struck a partnership with deepfake detection company Loti AI to protect CMG’s rosters of actors and estates from unauthorized digital use.

Loti AI will constantly monitor for AI impersonations of 20 personalities represented by CMG, including Burt Reynolds, Christopher Reeve, Mark Twain and Rosa Parks.

“Since the launch of Sora 2, for example, our signups have increased roughly 30x as people search for ways to regain control over their digital likeness,” said Luke Arrigoni, co-founder and CEO of Loti AI.

Since January, Loti AI said it has removed thousands of instances of unauthorized content as new AI tools made it easier than ever to create and spread deepfakes.

After numerous “disrespectful depictions” of Martin Luther King Jr., OpenAI said it was pausing the generation of videos in the civil rights icon’s image on Sora, at the request of King’s estate. While there are strong free-speech interests in depicting historical figures, public figures and their families should ultimately have control over how their likeness is used, OpenAI said in a post.

Now, authorized representatives or estate owners can request that their likenesses not be used in Sora cameos.

As legal pressure mounts, Sora has become more strict about when it will allow the re-creation of copyrighted characters. It increasingly puts up content policy violations notices.

Now, creating Disney characters or other images triggers a content policy violation warning. Users who aren’t fans of the restrictions have started creating video memes about the content policy violation warnings.

There’s a growing virality to what has been dubbed “AI slop.”

Last week featured ring camera footage of a grandmother chasing a crocodile at the door, and a series of “fat olympics” videos where obese people participate in athletic events such as pole vault, swimming and track events.

Dedicated slop factories have turned the engagement into a money spinner, generating a constant stream of videos that are hard to look away from. One pithy tech commentator dubbed it “Cocomelon for adults.”

Even with increasing protections for celebrity likenesses, critics warn that the casual “likeness appropriation” of any common person or situation could lead to public confusion, enhance misinformation and erode public trust.

Meanwhile, even as the technology is being used by bad actors and even some governments for propaganda and promotion of certain political views, people in power can hide behind the flood of fake news by claiming that even real proof was generated by AI, said Gregory of WITNESS.

“I’m concerned about the ability to fabricate protest footage, stage false atrocities, or insert real people with words placed in their mouths into compromising scenarios,” he said.

China Qidian Guofeng Holdings (SEHK:1280) has seen its stock make quiet moves lately, catching the attention of investors looking for signals beneath the surface. The stock’s recent price action invites a closer look at its fundamentals.

See our latest analysis for China Qidian Guofeng Holdings.

The recent uptick in China Qidian Guofeng Holdings’ share price, closing at HK$4.48 with a 1-day return of 2.75% and a strong 7-day gain of 6.67%, points to renewed investor interest and hints at improving sentiment. While short-term price swings have been notable, the bigger story is the robust momentum reflected in an impressive year-to-date share price return of 65.31% and a remarkable 1-year total shareholder return of 84.36%. This suggests that the stock’s climb is not just a short-lived rally but part of a longer positive trend.

If you’re looking for what else might be gaining momentum under the radar, now is the perfect time to see what other investors are discovering in fast growing stocks with high insider ownership

But with such impressive gains logged, the key question for investors is whether China Qidian Guofeng Holdings still offers value at current levels or if future growth prospects are already fully reflected in the price.

At its last close of HK$4.48, China Qidian Guofeng Holdings is trading at a price-to-sales ratio of 16.5x, which is much higher than both its peer group and the broader Hong Kong Specialty Retail industry.

The price-to-sales (P/S) ratio compares a company’s market capitalization to its revenue. This figure reflects how much investors are willing to pay for each dollar of sales. For specialty retailers like China Qidian Guofeng Holdings, this measure helps gauge the market’s expectations for future revenue growth and business quality, especially when profits are negative or erratic.

Currently, the company’s P/S is not only above the peer average of 2x, but also far higher than the industry average of 0.7x. This large premium signals that the market is pricing in strong future performance or unique potential that peers lack. However, it may also mean expectations have run ahead of fundamentals. With no reliable analyst forecasts and the company still unprofitable, this valuation looks difficult to justify on current performance alone.

See what the numbers say about this price — find out in our valuation breakdown.

Result: Price-to-Sales of 16.5x (OVERVALUED)

However, a persistent lack of profits and a high valuation could quickly reverse sentiment if growth fails to materialize as expected.

Find out about the key risks to this China Qidian Guofeng Holdings narrative.

If you see things differently or would rather dive into your own analysis, you can easily craft your own story in just a few minutes with Do it your way.

A great starting point for your China Qidian Guofeng Holdings research is our analysis highlighting 2 important warning signs that could impact your investment decision.

Don’t watch opportunities pass you by. Take charge of your investing journey and uncover potential winners that match your strategy, before they hit the mainstream.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include 1280.HK.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com

• Mersen recently reported its Q3 2025 results, which fell short of market expectations due to continued weakness in its solar power segment, prompting the company to lower its full-year sales growth, profit margin, and capital expenditure targets.

• This revision reflects ongoing uncertainty and a lack of visibility in the solar business, compelling analysts to reconsider their projections even though some still see potential for solid performance in 2025.

• With management cutting guidance after particularly weak solar activity, we’ll examine how these developments affect Mersen’s investment narrative and future prospects.

Rare earth metals are the new gold rush. Find out which 37 stocks are leading the charge.

To be a shareholder in Mersen right now means believing in the company’s ability to ride the global shift toward renewable energy and electrification, despite near-term challenges. The recent Q3 miss and lowered guidance directly impact the short-term catalyst of a solar segment rebound, while highlighting customer concentration risk, currently the most immediate threat to both revenue and profit visibility.

Among Mersen’s recent announcements, the July orders worth over €35 million for HVDC technology in offshore wind projects stand out, especially as weak solar results refocus attention on other renewable opportunities. This deal underscores that while solar faces uncertainty, growth in wind and grid infrastructure projects could help offset shortfalls and underpin the medium-term outlook.

By contrast, investors should be aware that despite early promise in non-solar renewables, customer concentration in volatile segments still leaves Mersen exposed if…

Read the full narrative on Mersen (it’s free!)

Mersen’s outlook anticipates €1.4 billion in revenue and €98.9 million in earnings by 2028. This relies on a 3.8% annual revenue growth rate and a €49.5 million increase in earnings from the current €49.4 million.

Uncover how Mersen’s forecasts yield a €28.37 fair value, a 23% upside to its current price.

Fair value estimates from 5 Simply Wall St Community members range from €15.52 to €38.89, reflecting sharply different views. With solar-linked risks still in play, your outlook may depend on how much weight you assign to recovery outside this segment.

Explore 5 other fair value estimates on Mersen – why the stock might be worth 33% less than the current price!

Disagree with existing narratives? Create your own in under 3 minutes – extraordinary investment returns rarely come from following the herd.

Right now could be the best entry point. These picks are fresh from our daily scans. Don’t delay:

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Companies discussed in this article include MRN.PA.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com