炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 以旗下《新仙剑奇侠传之挥剑问情》为例，该游戏于2023年国内获超800万预约、首月流水破2亿后，于 同年登陆中国港澳台地区。团队融合当地民俗推出"电子拜拜""花车绕境"等线上线下活动，助游戏登顶 三地免费榜及港澳畅销榜，成为当年出海代表作。 旗下另一款商业化产品《新射雕群侠传之铁血丹心》国内上线后稳居前列，五个月后出海。港澳台版本 更新节奏加快1.5倍；而在新马地区则对小龙女与杨过重逢、张无忌为赵敏画眉等剧情进行本地化改 编，实现上线即登顶免费榜、快速进入畅销榜前列。 再比如，旗下《真·三国无双 霸》承接日本光荣特库摩对三国历史的解读，对武将进行适度英雄化处 理，实现国内预约破800万、上线三小时登顶iOS免费榜，随后进入中国港澳台、新马等地长期稳居动 作游戏榜单头部。2025年9月进军日本后迅速升至免费榜第二，体现了经典IP在成熟市场的吸引力。 另一顶级国漫IP改编产品《斗破苍穹：巅峰对决》国内上线首月跻身苹果免费榜第二，并获得硬核联盟 超明星推荐。海外版《鬥破蒼穹：無雙》突破纯线上投放，将游戏成功融入用户日常场景，实现登陆中 国港澳 ...

随着国内移动游戏市场步入存量竞争阶段，出海已从中国游戏企业的"附加题"变为"必答题"。中手游 （CMGE）发布的2025年上半年财报显示，其海外业务正迎来质变：海外发行收入达到2.35亿元，在整 体发行收入中的占比由去年同期的14.1%大幅攀升至30.8%，同比增长达33.2%。 图片摘自中手游官网 旗下另一款商业化产品《新射雕群侠传之铁血丹心》凭借经典的金庸武侠IP、成熟的卡牌养成玩法，在 国内上线后稳居榜单前列，五个月后启动出海。据发行团队负责人透露，考虑到中国港澳台地区用户对 游戏内容的消耗会更快，针对港澳台市场的游戏内容更新节奏较大陆版本加快了1.5倍。而在新马地 区，则针对华人用户熟悉的剧情进行本地化改编，如小龙女与杨过重新相见、张无忌为赵敏画眉等，实 现上线即登顶免费榜、挺进畅销榜前列。 而中手游另一款成功出海产品则瞄准了亚洲游戏市场对三国题材游戏的文化认同感。旗下产品《真·三 国无双霸》在国内取得上线前全网预约量突破800万、上线三小时内迅速登顶国区iOS免费榜的开局 后，稳步拓展至中国港澳台地区、新加坡、马来西亚等市场，长期稳居动作游戏分类榜单头部。2025年 9月进军日本时，迅速登上日本苹果 ...

在"游戏经济"生态规模突破1.2万亿元的2025年，品牌差异化、用户忠诚度与长期价值创造能力，已取代单纯的流量争夺，成为衡量企业核心竞争力的关键 标尺。 近日，中手游在格隆汇"金格奖·年度卓越公司榜单"中荣获"年度品牌价值奖"，这一聚焦品牌差异化、知名度、客户忠诚度等多维度评估的奖项，不仅是对 其行业地位的认可，更印证了其战略布局与游戏行业高质量发展趋势的契合。 可以说，中手游拥有的IP在知名度和粉丝基础上的优势，使其在游戏开发与商业化运作中具备天然的差异化竞争力，这也是其品牌价值能够持续提升的核心 逻辑。 回溯今年游戏行业发展脉络，政策优化与版号充足构筑了产业稳健增长的基础。《2025年中国游戏产业报告》显示，今年国内游戏市场实际销售收入达 3507.89亿元，同比增长7.68%，用户规模突破6.83亿。 在此背景下，中手游的品牌价值提升是其立足IP核心、布局全球化与轻量化赛道、践行技术创新的综合成果，这也为其在资本市场获得认可提供坚实支撑。 IP生态筑底，构建品牌价值护城河 在游戏行业价值重构的过程中，优质IP已成为连接文化内核与商业价值的核心载体，也是中手游品牌价值的根基所在。 今年恰逢"仙剑奇侠传"I ...

12月22日，格隆汇在线上举办"科技赋能·资本破局"分享会。本次分享会，备受瞩目的卓越公司评选榜 单将隆重揭晓，其中格隆汇"金格奖"年度卓越公司评选中，疯狂体育(00082.HK)、H&H国际控股 (01112.HK)、华兴资本控股(01911.HK)、康桥悦生活(02205.HK)、慕尚集团控股(01817.HK)、山高新能 源(01250.HK)、十月稻田(09676.HK)、兴证国际(06058.HK)、中国春来(01969.HK)、中手游 (00302.HK)10家企业荣获"年度品牌价值奖（中小市值）"奖项。（排名不分先后，按公司首部字母顺序 排列） | 11 | | 2025年度卓越公司评选榜单 | D | | --- | --- | --- | --- | | 公司名称 | 公司代码 | GURUCLUB OUTSTANDING COMPANIES LIST 2026 公司名称 | 公司代码 | | 疯狂体育 | 00082.HK | 山高新能源 | 01250.HK | | H&H国际控股 | 01112.HK | 十月稻田 | 09676.HK | | 华兴资本控股 | 01911.HK | ...

| | | 2025年度卓越公司评选榜单 | DB | | --- | --- | --- | --- | | 公司名称 | 公司代码: | 公司名称 | 公司代码 | | 疯狂体育 | 00082.HK | 山高新能源 | 01250.HK | | H&H国际控股 | 01112.HK | 十月稻田 | 09676.HK | | 华兴资本控股 | 01911.HK | 兴证国际 | 06058.HK | | 康桥悦生活 | 02205.HK | 中国春来 | 01969.HK | | 慕尚集团控股 | 01817.HK | 中手游 | 00302.HK | | | | 排名不分先后 | | "年度品牌价值奖（中小市值）"旨在表彰资本市场中拥有最高品牌价值的企业。品牌作为企业生存和发 展的核心，做好一个品牌，对于每个企业来说都是重中之重。本奖项从品牌差异化、知名度、客户忠诚 度等多角度衡量品牌价值，甄选出的企业都创造了卓越品牌，并在品牌价值提升的过程中做出创新和不 凡实践。本次评选通过定量数据分析和专家评审团等方式得出最终结果。 格隆汇以"全球视野，下注中国"为初衷，本次评选旨在打造出投资圈中最具参考价值的上 ...

Group 1: Industry Overview - The gaming industry has shown mixed results in 2025, with leading companies like Tencent, NetEase, and MiHoYo performing well, while others face significant losses [1] - Companies such as Zhongyou Mobile, ShengTian Network, and Tom Cat Culture have reported substantial financial challenges, indicating a competitive and volatile market environment [1] Group 2: Zhongyou Mobile - Zhongyou Mobile reported a revenue of 763 million yuan in the first half of the year, but faced an adjusted net loss of 638 million yuan due to high marketing costs for new game launches and one-time severance expenses [3] - The company saw a 33.2% increase in overseas revenue, which now accounts for over 30% of total income, indicating potential growth areas [3] - The success of mini-games like "Chunqiu Xuankong" has emerged as a new growth point, with over 100 million in revenue within three months [3] Group 3: ShengTian Network - ShengTian Network's revenue for Q3 was 305 million yuan, a slight decline year-on-year, with a net loss of 21.59 million yuan, exacerbated by the expiration of a key IP contract [5] - The company has heavily relied on a single IP for profits, leading to significant goodwill impairment of over 47.5 million yuan [5] - Future prospects are uncertain, with new game releases and AI applications not yet proving to be profitable [5] Group 4: Tom Cat Culture - Tom Cat Culture reported approximately 697 million yuan in revenue for the first three quarters, a nearly 20% decline, and a net loss of 43.93 million yuan [7] - The company's revenue model is heavily dependent on advertising, which constitutes over 72% of income, making it vulnerable in a post-traffic dividend era [7] - The shift towards AI products has not yet established a stable revenue model, raising concerns about the company's strategic direction [7] Group 5: Dianhun Network - Dianhun Network anticipates a loss of 7.5 to 11 million yuan for the first half of 2025, a significant decline from a profit of nearly 60 million yuan in the same period last year [9] - The decline is attributed to a lack of new successful products and reduced government subsidies [9] - The company's future hinges on the continued operation and updates of its flagship IP, "Dream Three Kingdoms," amid doubts about its innovation capabilities [9] Group 6: ST Zhongqingbao - ST Zhongqingbao reported revenue of 97.94 million yuan in the first half of the year, down 19%, with a net loss of 2.464 million yuan [11] - The company is struggling with a dual challenge of declining traditional gaming revenue and low-margin new businesses like cloud computing [11] - Market sentiment is cautious regarding the company's ability to successfully transition into a diversified tech company [11]

每经AI快讯，12月19日，港股游戏股集体走强，截至发稿，创梦天地(01119.HK)涨3.70%、网易- S(09999.HK)涨1.42%、中手游(00302.HK)涨1.37%。 ...

格隆汇12月12日｜中手游(0302.HK)今日股价表现强势，一度涨7.35%。市场分析认为，此次上涨或与公 司加速推进小游戏赛道布局及海外业务进展受到投资者关注有关。 此前发布的2025年上半年财报显示，公司海外发行收入达2.35亿元，占整体游戏收入比重提升至 30.8%，同比增长33.2%。这一增长不仅得益于《仙剑奇侠传》《斗罗大陆》等主力IP产品的持续输 出，也受益于一批新兴轻量化产品在海外市场的初步释放，为公司注入了新的增长动能。 当前，全球移动游戏市场正经历结构性变化。随着用户获取成本持续攀升，以"免费下载+广告变现"为 核心的小游戏形态（IAA）迅速崛起，成为驱动行业增长的重要力量。据悉，中手游已开始着手布局多 款IAA产品进行海外验证，此类产品具备上线周期短、用户门槛低、ROI回收快等特点，契合当前全球 移动游戏市场对高效运营与广泛触达的需求。 随着更多产品进入商业化验证阶段，中手游能否在全球轻量化游戏市场中建立可持续竞争力，将持续成 为市场关注焦点。 ...

Core Insights - The recent announcement of the 2025 Golden Rooster Awards recognized Zhong Shouyou as the "Most Influential Mobile Game Publisher," with its products "Naruto: Konoha Masters" winning "Best ACG Mobile Game" and "New Three Kingdoms: Cao Cao Biography" winning "Player's Favorite Mobile Online Game" [1][16][29] Group 1: Awards and Recognition - Zhong Shouyou received the title of "Most Influential Mobile Game Publisher" for its strong performance in the gaming industry [14][28] - "Naruto: Konoha Masters" was awarded "Best ACG Mobile Game," showcasing its deep recreation of the Naruto anime's essence and achieving significant market success [5][19] - "New Three Kingdoms: Cao Cao Biography" was recognized as "Player's Favorite Mobile Online Game," highlighting its innovative strategy gameplay and positive reception from core players [7][21] Group 2: Financial Performance and Market Strategy - In the first half of 2025, Zhong Shouyou's overseas revenue reached RMB 235 million, marking a 33.2% year-on-year increase and accounting for 30.8% of total revenue, up from 14.1% in the same period last year [14][28] - The company has successfully launched several products in both domestic and international markets, with titles like "Spring and Autumn Mysteries" and "Fighting Breakthrough: No Dual" performing exceptionally well [28][29] - Zhong Shouyou plans to release 18 new products in 2025, with 11 of them being IP derivative games, indicating a strong focus on IP strategy and product diversification [28][29] Group 3: Future Outlook - The awards reflect the market and player recognition of Zhong Shouyou's publishing strength and product quality, emphasizing the company's ongoing efforts in IP value cultivation and innovation [15][29] - The company aims to deepen its IP ecosystem layout and continue investing in innovative research and global distribution, contributing to the healthy development of the Chinese gaming industry and cultural export [15][29]

12月3日，由国内领先的港美股资讯平台智通财经、中资海外私募基金一站式服务平台新智基金网联合主办的"第十届智通 财经资本市场年会"上市公司颁奖典礼顺利举办，中手游凭借在履行企业社会责任方面的突出表现与持续贡献，荣获"最具 社会责任上市公司奖"。 自2016年启动以来，智通财经上市公司评选已连续成功举办十届，建立了良好的市场口碑与深远的社会影响力。"最具社会 责任上市公司"奖旨在表彰努力践行社会责任，积极履行对消费者、社区和环境的责任，在精准扶贫、生态保护、公益捐赠 等方面作出积极贡献的港、美股上市公司。此次获奖，充分彰显了资本市场对中手游践行社会责任、推动行业健康发展的 高度认可。 中手游亦高度重视企业治理与可持续发展，持续推进绿色办公、节能减排，并在游戏研发与运营中强化未成年人保护机 制，严格落实国家关于网络游戏防沉迷系统的各项政策要求，致力于营造健康、绿色的网络环境。 荣誉，亦是责任与担当。未来，中手游将在稳健经营的基础上，坚持经济效益与社会效益并重，在创造优秀文化产品的同 时，持续深化社会责任实践，为股东、员工、用户及社会创造长期价值。 自成立以来，中手游将公益和社会责任纳入企业核心文化，在持续打造高品 ...