TikTok parent ByteDance has scored another hit in China with Hongguo, an artificial intelligence-powered short-drama platform.Launched in 2023, Hongguo quickly became a household name by riding China’s short-drama boom.A surge in AI-generated content propelled it past some of the country’s biggest professional streaming platforms, while iterations of AI-animated dramas – using AI video models including ByteDance’s Seedance – gave it further lift.Hongguo has overtaken the country’s four...