Cailian Press: Seedance derives half of revenue from overseas as AI applications and consumer devices draw attention

What do Seedance’s revenue changes show?

According to media reports, overseas markets now account for 50% of revenue at Seedance, ByteDance’s video generation model; a person close to Volcano Engine said its overseas revenue grew nearly 5-fold over the past six months.
Domestic customers remain predominantly internet companies: measured by token consumption and revenue contribution, Tencent ranks among Seedance’s top three customers in China, while Bilibili is in the top ten.
Guosen Securities analyst Zhang Heng believes advances in models on complex tasks, agents and video generation could accelerate product innovation and commercialization in AI applications: agents can be used in office work, marketing and enterprise workflows, while video generation could improve content production efficiency and create new content formats.

Guangdong province’s implementation plan for expanding consumption calls for accelerating the development of “AI + consumption,” upgrading products such as smartphones, computers, wearables and robots, and expanding applications including virtual livestream hosts, AI virtual try-ons and product content generation.
Guotai Haitong Securities believes technological innovation will drive iteration of on-device AI products and that penetration of AI glasses could rise. WellsennXR forecasts global AI glasses sales will reach 60 million units in 2029 and could reach 1.4 billion units in 2035.
In the supply chain, Mingyue Optical became the official exclusive optical lens supplier for Xiaomi AI glasses in June 2025; Changying Precision participates in the joint design and mass production of precision components for products including AI glasses. The two companies’ respective links are lens supply and component provision.

On 3 November, combined turnover on the two mainland exchanges fell by 80.3 billion yuan from the previous trading day, and the number of companies with turnover above 1 billion yuan fell by 21 to 361; the numbers of chip, robotics and AI concept companies reaching that turnover threshold fell by 11, 22 and 5, respectively.
The three major indexes closed lower that day. Agriculture, forestry, animal husbandry and fisheries, food and beverages, and non-bank financials rose against the trend, while technology growth sectors including CPO, PCB and semiconductors were among the biggest decliners. Cailian Press said funds were repeatedly shifting between growth and defensive sectors, and insufficient trading volume was limiting the scope for a rebound.

A controlled subsidiary of Yunnan Germanium signed a long-term indium phosphide substrate supply agreement with AOI: AOI expects to purchase 180 thousand wafers annually from 2027 through 2031, for a five-year total of 900 thousand. Indium phosphide wafers are mainly used to produce optical chips for data centers and optical module components, among other products.
The contract value for 2027 is 194 million US dollars, equivalent to approximately 1.305 billion yuan, or 122.46% of Yunnan Germanium’s audited revenue for 2025. The agreement brings potential order demand for the company’s indium phosphide products.