Hualong Securities released a research report stating that on October 23, Volcano Engine launched Doubao 3D Model 1.0, achieving end-to-end generation of high-quality simulation-level 3D models from a single image. In the future, the team plans to integrate multimodal large language models (MLLM) to enhance the quality and robustness of 3D generation and promote large-scale applications of 3D generative models in world simulators.

As 3D generation technology rapidly penetrates cutting-edge fields such as digital twins, embodied intelligence, and virtual reality, the industry is undergoing a critical transformation from "manual modeling" to "intelligent generation." Efficient, high-quality automated 3D content generation has become a core driver for industrial digital upgrades and large-scale applications. Hualong Securities' key insights are as follows:

**Doubao 3D Model 1.0 Released, Achieving Dual Excellence in Geometry and Materials with SOTA Performance** On October 23, Volcano Engine introduced Doubao 3D Model 1.0 (Doubao-Seed-3D-1.0), enabling end-to-end generation of high-fidelity 3D models from a single image. Seed3D1.0 is based on an innovative Diffusion Transformer architecture, trained on large-scale datasets, and capable of producing complete 3D models with refined geometry, realistic textures, and physically based rendering (PBR) materials while ensuring multi-view consistency and material authenticity.

**Ultra-SOMC Platform and Digital Security Capabilities Support Industrial Digital Transformation** On October 21, 2025, Ultra-SOMC V3.0, a self-developed security operation management center software by Ultrapower, was awarded the "2025 Outstanding Software Product" title by the China Software Industry Association (CSIA). Currently, Ultra-SOMC V3.0 has been deployed in key industries such as telecommunications and energy, providing security operation support for leading clients and expanding into more industrial scenarios. This recognition highlights Ultrapower’s technological strength and innovation capabilities in digital security and intelligence.

**Investment Recommendations** With 3D generation technology accelerating adoption in digital twins, embodied intelligence, and virtual reality, the industry is transitioning from manual to intelligent modeling. Automated 3D content generation is now a pivotal force in digital transformation. Investors should focus on platform companies and solution providers with breakthroughs in algorithms and engineering capabilities. Key sectors in media include: 1) **AI Technology Integration**: The gaming industry is rapidly adopting AI for cost efficiency. Recommended stocks: The9 Limited (002517.SZ), Giant Network (002558.SZ), XD INC (02400), Yaoji Technology (002605.SZ), Perfect World (002624.SZ), Tencent Holdings (00700). 2) **IP Monetization**: Deepening commercialization of premium IP. Recommended stock: Alpha Group (002292.SZ). 3) **Film Industry Recovery**: Improved content supply driving sector rebound. Recommended stocks: Huace Film & TV (300133.SZ), Ciwen Media (002343.SZ), Wanda Film (002739.SZ), Shanghai Film (601595.SH).

**Risk Factors** Potential risks include slower-than-expected technological advancements, intensified industry competition, delays in new product R&D, tightening policies and regulations, and macroeconomic volatility.