Market Overview - The Hang Seng Index (HSI) closed at 24,979.45, down by 102.18 points or 0.41% as of August 7, 16:00 Eastern Time [1] - The index reached a high of 25,085.26 and a low of 24,911.17 during the trading session, with a trading volume of 35.48 million [1] - The 52-week high for the index is 25,638.77, while the 52-week low is 16,954.46, indicating a trading range of 0.69% [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 98.823, down 0.03% from the Hong Kong close [2] - Tencent Holdings closed at HKD 564.761, down 0.39% from the Hong Kong close [2] Stock Price Movements - Tencent Holdings (00700) saw a decrease of HKD 1.50, or 0.26%, with an ADR price of 564.761 [3] - Alibaba Group (09988) increased by HKD 2.50, or 2.14%, with an ADR price of 118.682 [3] - Xiaomi Group (01810) decreased by HKD 2.15, or 3.98%, with an ADR price of 51.476 [3] - AIA Group (01299) increased by HKD 0.95, or 1.29%, with an ADR price of 73.980 [3] - Meituan (03690) increased by HKD 0.90, or 0.74%, with an ADR price of 120.958 [3]

Core Viewpoint - The recent complaints from players regarding the game "Love and Deep Space" highlight significant issues related to false advertising and discrepancies between promotional content and actual gameplay experiences, leading to a wave of consumer dissatisfaction and legal actions against the game developers [1][4][6]. Group 1: Consumer Complaints - Players have initiated a collective complaint, with discussions on social media reaching 24,000 mentions, primarily focusing on the game's latest event "Shen Xinghui: Dark King" [1][2]. - In a short span from July 29 to July 31, over 1,500 complaints were recorded for "Love and Deep Space," indicating a high level of discontent among users [2]. - A significant portion of complaints (98.65%) comes from female users, with 64.65% of complainants being from the post-2000 generation, reflecting the demographic heavily invested in these games [4][6]. Group 2: Specific Issues Raised - Players reported issues such as misleading promotional content, inadequate game mechanics, and poor customer service responses, with many feeling that their virtual assets were compromised [4][6]. - The complaints predominantly revolve around false advertising, with players expressing frustration over the lack of promised features in the game compared to what was showcased in promotional videos [4][6]. - The game "Love and Deep Space" achieved a peak revenue of over 100 million yuan on the day of the event, indicating a significant financial impact from the complaints [6]. Group 3: Industry Context - The complaints against "Love and Deep Space" follow a similar wave of dissatisfaction directed at another game, "World Beyond," which faced backlash for pricing issues and perceived exploitation of players [8][10]. - The consumer protection platform "Xiaofei Bao" reported that complaints from "World Beyond" accounted for a significant portion of total complaints in the otome game sector, highlighting a trend of consumer dissatisfaction within this genre [10][12]. - Industry insiders suggest that the focus on revenue generation often overshadows the importance of respecting consumer rights and transparency, leading to a growing sentiment of being "tricked" among female players [12].

Core Viewpoint - NetEase is facing significant backlash from players due to a series of controversial decisions, particularly related to the pricing strategy of its game "World Beyond," which has led to widespread dissatisfaction and calls for boycotts [2][6][8]. Group 1: Pricing Controversy - The price increase for the new card pool in "World Beyond" from 300 diamonds to 400 diamonds represents a 33% hike, which was not communicated to players through official channels [6][7]. - Players have reported a total of 3,251 complaints regarding "World Beyond," with a total claim amount exceeding 5.78 million yuan within a short period [8]. - The backlash has been exacerbated by controversial user agreement terms that players feel infringe on their rights, such as account deletion after a year of inactivity [7]. Group 2: Public Relations Missteps - NetEase's attempts to address the situation through social media responses have backfired, leading to increased public outrage and trending topics mocking the company's approach [11][12]. - The company's statement that "wanting to make money" is a straightforward admission of its commercial intentions, which has alienated its core user base [22][25]. Group 3: Financial Pressures - The revenue pressure on "World Beyond" is evident, with estimates suggesting that its highest daily iOS revenue has dropped significantly from over 1.5 million dollars in 2024 to around 50,000 dollars in 2025 [18][19]. - NetEase's gaming business constitutes nearly 80% of its overall revenue, but growth has slowed considerably, necessitating a reevaluation of its business strategies [21]. Group 4: Emotional Disconnect - The essence of "World Beyond" as an otome game relies on emotional engagement, and players expect a deep connection rather than a purely commercial interaction [23][24]. - The company's failure to maintain this emotional connection has led to a significant erosion of trust among players, who feel exploited rather than valued [36][37]. Group 5: Industry-Wide Implications - The issues faced by "World Beyond" are reflective of broader challenges within the otome game sector, where companies often prioritize profit over the emotional bonds with players [30][34]. - The recent controversies highlight a misunderstanding among developers regarding the importance of emotional narratives in justifying player spending [35].

这两天，各大外卖平台的商战打得不可开交，你出一份十亿补贴，我直接拉到百亿，比得就是持久战和内功，众网友直呼："也是吃上时代的红利了!" 然而诸君莫慌，外卖的红利吃满还不够，MMO圈的福利已经接踵而至，网易旗下元老级MMO《新倩女幽魂》现已打响MMO"百亿补贴"第一枪，西游特色 双服将于8月15日全面登场，福利力度堪称无解阳谋! 来玩，真打金!在斗战服，杀人/打怪都有概率掉落来自现实世界的稀有投放碎片，集齐后可兑换黄金或现金! 太多福利，太多羊毛，不薅不行!上述所列举，不过是11重福利中的一部分，更多福利，诸如「迎新奖励」「抽特殊坐骑」「战令礼」等实在太多，恕小编 难以一一罗列! 7月31日，《新倩女幽魂》的西游版本特色服正式开启预约，截止8月14日18点前都可随时报名预约!其即将推出的"斗战成佛"(PVP)与"天命归来"(PVE)双特 色服，没有藏着掖着的连环套路，只有开诚布公的福利体系，为的就是让玩家心甘情愿地入局! 双特色服福利包含充值全返、真黄金掉落、1元50套时装等11重福利，每一项都精准戳中MMO玩家的核心诉求，主打以真心换真心! 充值返利!玩家在特色服"点数兑换元宝"的所有消耗，均可在结算后1:1 ...

权重科技股涨跌不一，阿里巴巴涨超2%，京东、百度涨超1%，美团、快手微涨，腾讯控股、网易小幅 下跌，小米跌近4%。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 V | | --- | --- | --- | --- | --- | --- | | 09988 | 阿里巴巴-W | 0 | 119.200 | +2.500 | 2.14% | | 09618 | 京东集团-SW | | 124.700 | +2.100 | 1.71% | | 09888 | 百度集团-SW | | 86.700 | +1.400 | 1.64% | | 03690 | 美团-W | | 122.000 | +0.900 | 0.74% | | 01024 | 快手-W | | 80.000 | +0.100 | 0.13% | | 00700 | 腾讯控股 | | 567.000 | -1.500 | -0.26% | | 09999 | 网易-S | | 206.800 | -1.000 | -0.48% | | 09626 | 哔哩哔哩-W | | 183.500 | -0.900 | -0.49% | | ...

隔夜美股三大指数集体收涨，苹果涨超5%，中概指数涨0.93%。港股三大指数集体高开，恒指涨 0.29%，国指涨0.24%，恒生科技指数涨0.27%。盘面上，大型科技股全线上涨，阿里巴巴涨2%，快手 涨1.38%，京东涨近1%，百度、美团、网易、腾讯均飘红，惟小米下跌3.43%；美股苹果股价大涨超 5%，港股苹果概念股闻声上涨，高伟电子涨近5%，瑞声科技、舜宇光学涨2%；AI概念股走强，赤子 城科技发盈喜大涨超9%，美图公司、心动公司、微盟集团、金山软件齐涨；钢铁股、濠赌股、建材水 泥股、高铁基建股普遍上涨。另一方面，汽车股普遍下跌，小鹏汽车跌近2%，半导体股、家电股、黄 金股部分走弱。(格隆汇) ...

Core Points - The China Securities Index Hong Kong 300 Leisure Index (H300 Leisure) reported a rise of 6.81% over the past month, 15.53% over the past three months, and 19.31% year-to-date [1] - The index is designed to reflect the overall performance of listed companies in various themes such as banking, transportation, resources, infrastructure, logistics, and leisure, selected from the China Securities Index Hong Kong 300 [1] - The index's base date is December 31, 2004, with a base point of 1000.0 [1] Index Holdings - The top ten weighted companies in the H300 Leisure Index are: Kuaishou-W (11.88%), Tencent Holdings (10.11%), NetEase-S (9.55%), Baidu Group-SW (9.36%), Trip.com Group-S (9.35%), Yum China (9.01%), Meituan-W (7.76%), Galaxy Entertainment (5.73%), Bilibili-W (3.46%), and Sands China Ltd. (3.11%) [1] - The index's holdings are entirely composed of companies listed on the Hong Kong Stock Exchange, with a 100% allocation [1] Industry Composition - The industry composition of the H300 Leisure Index includes: Leisure Services (41.56%), Digital Media (39.23%), Cultural Entertainment (11.80%), Alcohol (6.30%), and Marketing & Advertising (1.11%) [2] - The index samples are adjusted semi-annually, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

Group 1 - The core viewpoint of the article highlights the performance of the China Securities Hong Kong 100 Communication Services Index, which has shown significant growth over various time frames, including an increase of 31.30% year-to-date [1] - The index has risen by 8.48% in the past month and 14.52% over the last three months, indicating strong momentum in the communication services sector [1] - The index is composed entirely of securities listed on the Hong Kong Stock Exchange, with the largest sector being interactive media, which accounts for 61.64% of the index [1] Group 2 - The index sample is adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, although temporary adjustments can occur under special circumstances [2] - Adjustments to the index sample occur in response to events such as delistings, mergers, or changes in industry classification [2]

Core Insights - The 2025 ChinaJoy event features multiple industry activities, including the "Shulong Cup" global AI game and application innovation competition, highlighting a focus on technology-driven industry upgrades and creative value enhancement [1] - The National Press and Publication Administration issued 127 domestic game licenses and 7 imported game licenses, indicating a positive regulatory environment for the gaming industry [1] - The gaming sector shows signs of recovery, with companies like Giant Network achieving over 1 million concurrent users for their new map launch, reflecting increased product activity during the summer season [1] Industry Trends - The media and gaming industries are experiencing a fundamental bottoming out, with a need for a bottom-up approach to capture product cycles and performance in the gaming sector [1] - The advertising spending is expected to grow due to economic recovery, while the film and television content sector should focus on potential supply-side improvements [1] - The recent ChinaJoy exhibition saw high attendance with 743 participating companies, of which 31.8% were foreign, indicating strong industry interest and engagement [1] Product Performance - In the gaming field, products like "Whiteout Survival" are leading in revenue, showcasing robust industry demand [1] - Significant advancements in AI technology are noted, with Grok launching video generation features and Kimi K2 increasing output speed to 40 tokens per second, alongside the release of the GLM 4.5 model by Zhipu AI, driving innovation in the sector [1]

大摩称，本季以来，主动基金增持最多的板块是传媒与娱乐、制药和保险，减持最多的是消费服务、耐 用消费品与服装。从个股看，腾讯(00700)、网易(09999)、恒瑞医药(01276)和药明康德(02359)获增持最 多，美团(03690)和小米(01810)减持最多。 大摩报告表示，7月外资净流入达27亿美元，高于6月的12亿美元。截至7月31日，今年以来境外被动型 资金累计流入达110亿美元，超过2024年全年70亿美元的水平，境外主动型资金累计流出达110亿美元， 也低于2024年全年。 智通财经APP获悉，大摩表示，外资基金7月加速净流入中国股市，其中被动型基金流入39亿美元，主 动型基金则流出12亿美元。被动型基金主要集中在月底入场，恰逢多项"反内卷"政策发布。 大摩表示，7月南向资金流入港股进一步提速至170亿美元，高于6月的100亿美元。今年前7个月累计净 流入达1100亿美元，超过2024年全年的1030亿美元。 ...