Huatai Securities: Overseas Advertising Platforms Enter New Cycle of Synchronized Technology Dividends and Valuation Restructuring

GateUser-bd883c58 · 2026-03-20T19:01:59+00:00

Huatai Securities analysis points out that amid antitrust and privacy policy headwinds, the advertising industry is experiencing an AI-driven monetization revolution, with focus shifting toward real-time intent prediction, while traditional ID systems face challenges. Leading platforms dominate budget reallocation through efficient monetization and enjoy valuation premiums. We recommend focusing on targets with well-positioned supply chain layouts within the technology cycle.

GateUser-bd883c58

2026-03-20 19:01:59

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Question: How do AI technology dividends and valuation restructuring resonate to define a new advertising cycle?

Huatai Securities points out that in the era of anti-monopoly and post-privacy policies, overseas advertising is ushering in an AI-driven revolution in monetization efficiency. The industry’s core logic is shifting from label tracking to real-time intent prediction. The original walled garden based on user ID systems is loosening, and leading platforms with full-stack AI infrastructure in open networks are rising strongly. With superior monetization efficiency and profit flexibility, they are leading the structural reorganization of budgets and enjoying valuation premiums. It is recommended to focus on targets with relatively complete industry chain layouts, deep vertical data accumulation, self-developed algorithms, and strong engineering capabilities in this long-term technological cycle.

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