Core Viewpoint - A major operational incident occurred in the game "Yinian Xiaoyao" under the A-share game company Gigabit, where game items worth approximately 500,000 yuan were mistakenly distributed to all players, leading to significant disruptions in the game's economy and balance [3][5]. Group 1: Incident Details - On May 31, during the Dragon Boat Festival, "Yinian Xiaoyao" mistakenly issued 99,000 high-value items called "Any Treasure Box" to all players due to human error, valued at around 500,000 yuan [3][5]. - The project team initiated an emergency response on the same day and announced on June 2 that they would not implement the common industry practice of a "full server rollback," but instead opted for a "point-to-point rollback" for affected players [5][6]. - Players who received the erroneous items were temporarily banned from listing on the official trading platform, and the project team offered compensation of 20 "Any Treasure Boxes" to affected users [5][6]. Group 2: Financial Performance - Gigabit's annual report indicated that "Yinian Xiaoyao" generated 596 million yuan in revenue for 2024, a decrease of 42.49% from 1.036 billion yuan in 2023, making it the worst-performing among Gigabit's three major games [6][7]. - Overall, Gigabit reported a revenue of 3.696 billion yuan in 2024, down 11.69% year-on-year, with net profit declining by 16.02% to 945 million yuan [7][8]. - In the first quarter of 2025, "Yinian Xiaoyao" continued to see a revenue decline of 22.94%, while the company benefited from the launch of a new game, "Wanjian Changsheng," leading to a 22.47% increase in overall revenue [8]. Group 3: Industry Context - The incident highlights a recurring issue in the gaming industry, where operational errors can lead to significant player dissatisfaction and potential loss of users, as seen in previous cases with other major games [9]. - Industry analysts emphasize the importance of implementing tiered review systems before large operational changes to minimize errors and ensure effective crisis management following incidents [9].

Summary of G-bits Conference Call Company Overview - G-bits is a gaming company with a core valuation range of 15-19 times earnings, reflecting optimism for growth in the gaming sector due to the upcoming summer season and advancements in AI applications [2][3]. Key Products and Market Performance - **"Wanjie Changsheng"**: Launched in January, it generated 360 million in revenue and maintained monthly revenue in the tens of millions during Q2, exceeding profit expectations but still lagging behind "Yinian Xiaoyao" [2][4]. - **"Wandao Mobile Game"**: The anniversary event showed stable performance, positively impacting Q2 results, indicating the ongoing profitability of older products [2][4]. - **"Zhangjian Chuan Shuo"**: Its ranking on sales charts has been steadily rising, with expectations to contribute profits in Q3, showcasing strong market potential [2][4]. - **"Jiumuzhiyu"**: An upcoming SLG agency product currently in the second round of testing, its performance will determine its launch timing and impact on annual results, making it a key factor for future growth [2][5][6]. Financial Expectations - G-bits is projected to achieve a profit of approximately 1.05 billion this year, corresponding to a valuation of 19 times earnings, providing a reference point for investors [2][4]. Industry Insights - The overall performance of the gaming sector in Q2 2025 was strong, continuing a high growth trend. The market share of A-share gaming companies increased due to weaker product lines from major players like Tencent and NetEase [3]. - The gaming sector's valuation is on an upward trajectory, with core companies valued between 15-19 times earnings, leading to a recommendation for overweighting the gaming sector [3]. Strategic Adjustments - G-bits has undergone organizational and strategic adjustments after facing challenges, with the founder personally involved in R&D. The company is focusing its release strategy, indicating potential for improved product realization and profitability [2][7]. - The company is positioned as a small yet innovative gaming firm, suggesting a balanced approach in R&D and distribution, warranting close attention to new product developments and market performance [7].

Group 1 - The new entry "Dao You Lai Wa Bao" by G-bits has ranked 40th in the weekly chart of WeChat mini-games, indicating a successful launch in the market [1][5] - The game is based on the gameplay and materials from the online game "Wen Dao" and its mobile version, aiming to recall users who have left these platforms [5] - "Dao You Lai Wa Bao" incorporates various mini-game mechanics, such as a treasure map system for obtaining rewards based on progress, enhancing user engagement [5] Group 2 - The top ten mini-games include titles like "Zombie Shooting," "Endless Winter," and "Three Kingdoms: Ice Age," showcasing a diverse range of genres [2] - "Hero Adventure Team" has seen a significant rise, moving up 9 ranks to 27th, indicating strong user interest in nostalgic themes [4][9] - The overall performance of the mini-game market remains stable, with three new entries in the top fifty and six in the lower fifty, reflecting consistent user engagement [3][4]

证券代码：603444 证券简称：吉比特 公告编号： 2025-027 1 未全部退出，经基金管理人提议并经持有坚果核力基金三分之二（原为"二分之 一"）以上表决权的合伙人（须包括厦门金圆投资集团有限公司及厦门市思明区 产业投资有限公司）同意，可以延长 2 年经营期限。 延长期内，基金管理人不收取管理费，执行事务合伙人不收取执行合伙企业 事务报酬。 2025 年 5 月 20 日，坚果核力基金已完成上述事项的工商变更登记手续， 并取得新的《营业执照》。 厦门吉比特网络技术股份有限公司 关于参与投资基金的进展公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、投资基金概述 2019 年 2 月 22 日，厦门吉比特网络技术股份有限公司（以下简称"公司"） 全资子公司厦门吉相股权投资有限公司（以下简称"吉相资本"）与其他合伙人 共同发起设立厦门坚果核力创业投资合伙企业（有限合伙）（以下简称"坚果核 力基金"），吉相资本作为有限合伙人认缴 6,000 万元，占坚果核力基金总认缴出 资额的 37.15%；2020 年 1 月 2 ...

Industry Overview - Goldman Sachs updated its views on mid-sized game publishers, highlighting that domestic expansion opportunities have generally narrowed due to market consolidation, with Tencent and NetEase outperforming smaller peers in China [1][2] - The demand for new games has shifted towards high-quality and casual/mini games, putting pressure on traditional games from mid-sized publishers [1][2] - Despite challenges, there are opportunities for single games to achieve annual revenues of RMB 2-3 billion through differentiated gameplay [1] Company Insights - Tencent and NetEase remain Goldman Sachs' top picks in the Chinese internet/gaming sector, while Bilibili is viewed positively due to its advertising strength and profit margin expansion potential [3][7] - Goldman Sachs upgraded Xindong Company to neutral due to longer game lifespans and profit expansion through marketing discipline [3][10] - G-bits was downgraded to sell due to weak performance in traditional games and a lack of new product launches [3][12] - 37 Interactive was downgraded to neutral due to intense competition in mini-games and high customer acquisition costs [3][21] - Perfect World maintains a neutral rating, with key focus on upcoming game releases [3][28] Financial Projections - Bilibili is expected to see a 21% year-over-year revenue growth in 2025, driven by the anniversary of "Three Kingdoms: Strategic Edition" and new game releases [7][8] - Goldman Sachs anticipates a 3% year-over-year revenue decline for G-bits in 2025, with operating profit expected to drop by 17% [12][16] - For 37 Interactive, a 1% revenue decline and a 5% drop in operating profit are projected for 2025 [21][27] - Perfect World is expected to see a 16% year-over-year revenue growth in 2025, with operating profit estimated at RMB 2.17 billion [28][31] Rating Adjustments - Goldman Sachs maintains a buy rating for Bilibili, with a target price of RMB 23.7, reflecting a 35% upside [5][7] - Xindong Company’s rating was upgraded to neutral with a target price of HKD 34, reflecting improved visibility in its game business [10][11] - G-bits was downgraded to sell with a target price of RMB 194, indicating a 19% downside [5][12] - 37 Interactive's rating was downgraded to neutral, with a target price of RMB 16.3, reflecting a 9% upside [5][21] - Perfect World maintains a neutral rating with a target price of RMB 11.8, indicating a 12% downside [5][28]

Core Viewpoint - The legal opinion issued by Fujian Tianheng United Law Firm confirms that Xiamen Gibit Network Technology Co., Ltd.'s differentiated equity distribution plan complies with relevant laws and regulations, ensuring no harm to the interests of the company and its shareholders [8]. Group 1: Differentiated Equity Distribution - The differentiated equity distribution is based on the company's decision to repurchase shares using a budget of no less than RMB 50 million and no more than RMB 100 million, with a maximum repurchase price of RMB 390 per share [4][5]. - As of the application date for the differentiated equity distribution, the company has repurchased a total of 284,800 shares, which will not participate in profit distribution [5]. - The profit distribution plan for 2024 proposes a cash dividend of RMB 35 per 10 shares (tax included) to all shareholders, excluding capital reserve transfers to increase share capital [5][6]. Group 2: Calculation Basis for Distribution - The reference price for ex-rights and ex-dividends is calculated based on the closing price before the application date, which was RMB 217.22 per share, adjusted for the cash dividend [6]. - The actual ex-rights and ex-dividends reference price is calculated as RMB 213.72 per share, while the virtual distribution reference price is approximately RMB 213.7338 per share [6]. - The impact of the differentiated equity distribution on the reference price is less than 1%, indicating minimal effect [7]. Group 3: Legal Compliance - The differentiated equity distribution meets the criteria of not including repurchased shares in the profit distribution, as stipulated by relevant laws and regulations [7]. - The legal opinion concludes that the distribution plan adheres to the Company Law, Securities Law, and other regulatory guidelines, ensuring the protection of shareholder interests [8].

Core Viewpoint - The company announces a cash dividend distribution of 3.50 RMB per share (before tax) for its shareholders, with specific dates for the record and payment of dividends [1][2]. Dividend Distribution Details - The cash dividend of 3.50 RMB per share will be distributed to all shareholders registered by the close of trading on May 23, 2025, with the ex-dividend date set for May 26, 2025 [1][2]. - The total cash dividend amount is approximately 251,147,053.50 RMB (before tax) [2]. - The distribution will not involve capital reserve conversion to share capital or other forms of profit distribution [1][2]. Shareholder Eligibility and Taxation - The dividend distribution is based on the total share capital after excluding shares held in the company's repurchase account [1][2]. - Individual shareholders holding shares for more than one year will be exempt from personal income tax on the dividend, while those holding for one year or less will not have tax withheld at the time of distribution but will be subject to tax upon selling the shares [4][5]. - The actual cash dividend received by shareholders after tax for those subject to withholding will be 3.15 RMB per share [5]. Implementation Method - The cash dividends will be distributed to shareholders who have completed designated transactions with the Shanghai Stock Exchange [2][3]. - Shareholders who have not completed designated transactions will have their dividends held by China Securities Depository and Clearing Corporation Limited until the transaction is completed [2][3]. Contact Information - For inquiries regarding the dividend distribution plan, shareholders can contact the company's securities department at 0592-3213580 or via email at ir@g-bits.com [5]. Reference Documents - The announcement includes references to the company's annual shareholder meeting resolution and legal opinions regarding the differentiated dividend distribution [5].

证券代码：603444 证券简称：吉比特 公告编号：2025-026 厦门吉比特网络技术股份有限公司 2024年年度权益分派实施公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 每股分配比例 A 股每股现金红利3.50元（含税） 相关日期 根据《上市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 1 （一）发放年度：2024年年度 （二）分派对象： | 股份类别 | 股权登记日 | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | | A 股 | 2025/5/23 | － | 2025/5/26 | 2025/5/26 | 差异化分红：是 一、通过分配方案的股东会会议届次和日期 本次利润分配方案经厦门吉比特网络技术股份有限公司（以下简称"公司"） 2025 年 4 月 17 日召开的2024年年度股东会会议审议通过。 二、分配方案 截至股权登记日下午上海证券交易所收市后，在中国证券登记结算有限责任 公司上海分公司（以下简称" ...

福建天衡联合律师事务所 关于厦门吉比特网络技术股份有限公司 差异化权益分派事项的 法律意见书 中国﹒厦门 厦禾路 666 号海翼大厦 A 幢 16-18 楼 厦门·上海·福州·泉州·龙岩 http://www.tenetlaw.com 福建天衡联合律师事务所 法律意见书 福建天衡联合律师事务所 关于厦门吉比特网络技术股份有限公司 差异化权益分派事项的 法律意见书 2．本所及本所律师根据《证券法》《律师事务所从事证券法律业务管理办 法》和《律师事务所证券法律业务执业规则（试行）》等规定及本所法律意见书 出具日以前已经发生或者存在的事实，严格履行了法定职责，遵循了勤勉尽责原 则，进行了充分的核查验证，保证本法律意见书所认定的事实真实、准确、完整， 所发表的结论性意见合法、准确，不存在虚假记载、误导性陈述或者重大遗漏， 并愿意承担相应的法律责任。 3. 本所律师已得到吉比特如下承诺：吉比特向本所提供的与本法律意见书 相关的信息、文件或资料均为真实、准确、完整、有效，不存在虚假记载、误导 性陈述或重大遗漏；已向本所律师披露了一切足以影响本法律意见书出具的事实 和文件；文件资料为副本、复印件的，内容均与正本或原件相符； ...

证券代码：603444 证券简称：吉比特 公告编号： 2025-025 厦门吉比特网络技术股份有限公司 关于参加厦门辖区上市公司 2024 年年报业绩说明会暨 投资者网上集体接待日活动的公告 一、活动时间、方式 （一）活动时间：2025 年 5 月 15 日（星期四）下午 15:40-17:00 （二）活动平台："全景路演"网站（http://rs.p5w.net）、"全景财经"微 信公众号、"全景路演"APP （三）活动方式：网络在线互动 二、公司参加人员 1 活动时间：2025 年 5 月 15 日（星期四）下午 15:40-17:00 活动平台："全景路演"网站（http://rs.p5w.net）、"全景财经"微信 公众号、"全景路演"APP 活动方式：网络在线互动 独立董事：鲍卉芳女士 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： 为进一步加强与投资者的互动交流，厦门吉比特网络技术股份有限公司（以 下简称"公司"）将参加由厦门证监局、厦门上市公司协会与深圳市全景网络有 限公司联合举办的"厦门辖区上市 ...