Group 1 - Miniso's stock increased by nearly 5% [1] - Lao Pu Gold and Xiaomi Group both rose by 2% [1] - Li Auto, Cha Bai Dao, and Guo Quan saw increases of over 1.5% [1] Group 2 - Bruker experienced a decline of over 13.5% [1] - Hou Shang A Yi fell by nearly 6% [1] - Leap Motor dropped by nearly 3.5% [1] - Pop Mart decreased by nearly 1% [1]

犹记得三年前的年报季，游戏厂商那一份份惨不忍睹的2021年业绩公告，惨淡的数字让我一旁观者都感受到了行业的肃杀。遂以《游戏厂商的年报预告，犹 如我满是不及格的期末成绩单》为题，梳理了游戏厂商业绩情况。 | 游族网络 | 0. 4~0. 6亿 | 增长768.75%~1203.13% | | --- | --- | --- | | 天舟文化 | 0. 45~0. 55亿 | 增长135.94%~188.38% | | 友谊时光 | 0. 38~0. 44亿 | 扭亏为盈 | | 创梦天地 | 0.2~0.5亿 | 扭亏为盈 | | 勇仕网络 | 0.26亿 | -12. 49% | | 电魂网络 | -0.11~-0.07亿 | 由盈转亏 | | 凯撒文化 | -0.65~0.48亿 | 亏损收窄 | 再来看看腾讯网易两大巨头，上半年里业绩也非常不错。 网易游戏上半年收入468亿元，同比增长6.12%，再创历史新高。《梦幻西游》《第五人格》等长青游戏表现优异。 三年弹指一挥间，游戏行业已是物换星移。 半年报陆续发布之际，游戏茶馆欣喜地看到，多数上市游戏厂商在今年上半年期中考，都拿到不错的成绩：7家厂商扭亏为盈， ...

格隆汇8月19日丨心动公司(02400.HK)公告，董事会会议将于2025年8月29日(星期五)举行，藉以(其中包 括)考虑及批准公司及其附属公司截至2025年6月30日止6个月中期业绩及其发布，并考虑建议派发中期 股息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不對因本公告全部或任何部分內容而產生或因 倚賴該等內容而引致之任何損失承擔任何責任。 XD Inc. 心动有限公司 （於開曼群島註冊成立的有限公司） （股份代號：2400） 董事會會議通告 心动有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議將於2025年 8月29日（星期五）舉行，藉以（其中包括）考慮及批准本公司及其附屬公司截至 2025年6月30日止六個月之中期業績及其發佈，並考慮建議派發中期股息（如有）。 承董事會命 心動有限公司 主席兼首席執行官 黃一孟 中國上海，2025年8月19日 於本公告日期，董事會由執行董事黃一孟先生、戴雲傑先生及樊舒暘先生；非執行董事吳萌 先生；及獨立非執行董事裴大鵬先生、辛全東先生及劉千里女士組成。 ...

Core Viewpoint - Xindong Company (02400) has announced a positive earnings forecast, expecting significant revenue and profit growth for the first half of 2025, driven by strong performance from self-developed games [1] Group 1: Financial Performance - Xindong Company anticipates revenue of no less than RMB 30.5 billion for the first half of 2025, representing an approximate year-on-year increase of 37% [1] - The expected net profit is projected to be no less than RMB 7.9 billion, indicating a year-on-year increase of about 215% [1] Group 2: Game Development and Releases - The revenue growth is primarily attributed to the strong performance of self-developed games such as "Ragnarok M: Origins," "Xindong Town," and "Torchlight: Infinite" [1] - The company’s upcoming RPG "Iser" is set to enter global open beta testing on September 25, with a final paid test scheduled from August 28 to September 8 [1] - "Iser" has already launched its international version on June 5, ranking in the top 50 in sales across 30 countries and regions, with first-month revenue expected to exceed RMB 100 million [1] - The domestic version is planned for release on September 25, with potential market expansions in Hong Kong, Macau, Taiwan, Japan, and South Korea [1]

值得关注的是，心动公司旗下异能英雄养成策略RPG《伊瑟》此前宣布将于9月25日开启全球全平台公 测。作为公测前的最后测试，游戏将于8月28日10:00至9月8日10:00(UTC+8)进行"升格测试"，本次测试 为付费删档测试，支持PC、Android和iOS平台。开源证券指出，心动公司《伊瑟》、《心动小镇》拓 展区域，经典IP新游年底首测，游戏增长或延续《伊瑟》已于6月5日上线国际服，并在30个国家及地区 进入游戏畅销榜前50，上线首月流水预计破亿。国服计划于9月25日上线，中国港澳台、日韩市场有望 逐步拓展，亮眼表现或延续。 消息面上，心动公司近日发盈喜，预期2025年上半年取得收入不少于人民币30.5亿元，同比增加约37%; 及预期净利润不少于人民币7.9亿元，同比增加约215%。主要得益于自研游戏《仙境传说M：初心 服》、《心动小镇》及《火炬之光：无限》表现强劲，推动集团的收入增长，进而改善毛利率。 智通财经APP获悉，心动公司(02400)涨超5%，截至发稿，涨5.14%，报77.7港元，成交额1.46亿港元。 ...

Group 1 - The report maintains an "outperform" rating for the media sector, highlighting the importance of performance and the potential opportunities in AI applications and IP trends [3][6]. - In July 2025, the media sector (Shenwan Media Index) rose by 3.18%, underperforming the CSI 300 Index by 0.37 percentage points, ranking 18th among 31 industries [4][17]. - The current TTM-PE for the Shenwan Media Index is 44.9x, placing it in the 93rd percentile over the past five years, indicating a relatively high valuation [17][22]. Group 2 - The gaming market showed sustained growth in the first half of 2025, with a total revenue of 168 billion yuan, representing a year-on-year increase of 14.08% [33]. - From January to July 2025, 946 game licenses were issued, a 19.1% increase year-on-year, with July alone seeing over 100 domestic game licenses approved [4][24]. - The overseas revenue for self-developed Chinese games reached 9.5 billion USD in the first half of 2025, marking an 11.1% year-on-year growth, with the US, Japan, and South Korea being the primary markets [34][42]. Group 3 - The film market in July 2025 saw a total box office of 4.067 billion yuan, a decline of 24.4% year-on-year, although it experienced a month-on-month increase of 113.7% [52][57]. - The film "Nanjing Photo Studio" performed well, contributing positively to the box office in August, despite its late July release [57][60]. - The number of film registrations has shown a significant increase of 60% year-on-year since 2023, indicating a potential recovery in quality content supply starting in 2025 [60][64]. Group 4 - The WAIC conference showcased rapid advancements in embodied intelligence, with over 150 humanoid robots presented, highlighting significant breakthroughs in the field [75][82]. - The AIGC application DeepSeek topped the user growth chart with 163 million monthly active users, indicating strong market appeal [83][84]. - The Kimi K2 high-speed model was released, significantly increasing output speed from 10 tokens per second to 40 tokens per second, enhancing its application in real-time scenarios [87][92].

Core Viewpoint - The company expects significant revenue and profit growth in the first half of 2025, indicating strong operational performance and market confidence [1] Financial Performance - The company anticipates revenue of no less than 3.05 billion yuan in the first half of 2025, representing an approximate 37% increase from 2.22 billion yuan in the same period last year [1] - The projected net profit is expected to be at least 790 million yuan, which reflects a year-on-year growth of about 215% from 251 million yuan [1] Market Response - The company's stock price has increased nearly tenfold from its low point, suggesting positive market sentiment and investor confidence in the company's future prospects [1] - The company emphasizes that stock price fluctuations are influenced by multiple factors, and it remains focused on enhancing operational quality and core competitiveness [1] Strategic Focus - The company is committed to steady operations and high-quality development, aiming to deliver tangible results to shareholders and share the long-term value generated from its growth [1] - The company expresses gratitude for investor attention and aims to improve market recognition of its intrinsic value [1]

Core Viewpoint - Xindong Company (02400) has experienced a nearly 4% increase in stock price, attributed to a positive earnings forecast, with expected revenue and net profit for the first half of the year being at least 3.05 billion and 790 million respectively [1] Group 1: Earnings Forecast - Xindong Company has issued an earnings surprise, leading to market optimism regarding its financial performance [1] - The company anticipates revenue of no less than 3.05 billion and net profit of at least 790 million for the first half of the year [1] Group 2: Future Business Opportunities - The upcoming launch of "Ise: Reboot Day" on September 25 in China, Japan, and South Korea, along with the overseas debut of "Xindong Town," presents potential for improved business performance [1] - The self-developed games are entering a realization phase, and the potential for market expansion is being validated [1] Group 3: TapTap Platform Performance - TapTap platform has shown robust growth, with Daily Active Users (DAU) increasing by 11% over the past 12 months, total game downloads rising by 16%, and game reservations up by 10% [1] - The operational leverage effect is expected to drive steady profit margin improvements, with anticipation for the desktop version to further expand TapTap's market space [1]

Core Viewpoint - Xindong Company (02400) has experienced a nearly 4% increase in stock price following a positive earnings forecast, indicating strong market sentiment and growth potential in the gaming sector [1] Group 1: Earnings Forecast - Xindong Company expects revenue and net profit for the first half of the year to be no less than 3.05 billion and 790 million respectively, which has exceeded market expectations [1] - The company's positive earnings announcement has surprised the market, leading to a stock price increase of 3.86% to HKD 77.95 with a trading volume of HKD 272 million [1] Group 2: Game Releases and Market Potential - The anticipated release of "Ise: Reboot Day" on September 25 in China, Japan, and South Korea, along with the overseas debut of "Xindong Town," presents opportunities for business performance improvement [1] - Huatai Securities is optimistic about the company's self-developed games entering a realization phase, validating the potential for market expansion [1] Group 3: TapTap Platform Performance - Dongwu Securities highlights that the mid-term performance forecast has surpassed both their and market expectations, with TapTap showing steady growth [1] - Over the past 12 months, TapTap's Daily Active Users (DAU) increased by 11%, total game downloads rose by 16%, and game reservations grew by 10%, indicating a steady rise in platform traffic and user engagement [1] - The company is expected to benefit from the operational leverage effect, leading to a gradual increase in profit margins, while the desktop version of TapTap is anticipated to further expand market opportunities [1]