To say that this round of AI marketing hype has been a mixed bag of joy and worry. BlueFocus, Leo Holdings, Shengguang Group, and Yidian Tianxia each occupy different peaks, all seemingly running on this track, but their approaches are completely different.

First, let's look at BlueFocus, the veteran. About 80% of their revenue relies on overseas platforms like Google, Meta, and TikTok, especially major clients in gaming, e-commerce, and internet sectors. Their AI strategy is centered around the BlueAI matrix, covering everything from content generation to delivery optimization. Data shows that by the third quarter of 2025, AI-related revenue has reached nearly 2.5 billion yuan, with half of their business already AI-driven. However, there are obvious issues—accounts receivable turnover pressure is significant, and their asset-liability ratio still appears a bit inflated.

Leo Holdings is taking a different route. They operate in both machinery manufacturing and digital marketing, mainly cutting low-margin channel agencies in marketing and shifting focus to high-value-added strategic creativity. They have developed their own AI tools, LEO AI 1.0 and large models, and are also collaborating deeply with Alibaba's Tongyi Qianwen. This approach is more restrained, focusing on core competitiveness.

Everyone is competing, but their strategies are truly different.