Core Viewpoint - The company, Gigabit (603444.SH), has seen a significant recovery in both stock price and performance under the leadership of Lu Hongyan, with a stock price increase of 278.5% from its 2024 low and a revenue growth of over 20% in the first half of 2025 [1][6]. Company Performance - On September 12, 2025, Gigabit's stock price reached 542.28 CNY per share, up from a low of 143.27 CNY in 2024, marking a 278.5% increase [1][6]. - In the first half of 2025, the company reported a revenue of 2.518 billion CNY and a net profit of 645 million CNY, both showing year-on-year growth exceeding 20% [1][6]. - The company has a history of strong profitability, with a cumulative dividend payout of 6.489 billion CNY since its listing, and plans to distribute 4.74 billion CNY in cash dividends for the first half of 2025 [6]. Leadership and Strategy - Lu Hongyan, the founder, emphasizes a pragmatic approach, focusing on product quality rather than aggressive expansion, which has allowed the company to maintain resilience during industry fluctuations [4][7]. - The company has shifted its focus to developing new products, launching two self-developed games, "Wanjian Changsheng" and "Zhangjian Chuanqi," in 2025, which contributed to the performance recovery [1][6]. Market Position and Competitive Landscape - Despite being less known compared to larger competitors, Gigabit is recognized for its strong profitability and investment returns, earning the nickname "Game King" [5]. - The company has transitioned from a single-product focus to a diversified game enterprise, with successful titles like "Wandao," "Yinian Xiaoyao," and "Moyuan Zhi Ren" [7]. Future Outlook - Gigabit plans to focus on high-quality products in its agency business and will adjust its self-developed projects based on their commercial success and player engagement [7]. - The company has increased its marketing expenditure, with sales expenses reaching 836 million CNY in the first half of 2025, a 55.57% increase year-on-year, indicating a strategic investment in growth [7].

Investment Rating - Investment rating: Positive (maintained) [1] Core Insights - The gaming industry continues to thrive with high demand for new releases and strong performance in both domestic and international markets. Notable upcoming games include "Etheria: Restart" by Xindong Company and "Supernatural Action Group" by Giant Network, both expected to drive revenue growth [3][33]. - The AI sector is witnessing rapid advancements, with companies like Alibaba and ByteDance leading in AI application commercialization. The launch of new models and tools is expected to enhance efficiency and reduce costs significantly [3][30][32]. Industry Overview - The gaming sector shows robust performance, with "Wilderness Contract" topping the iOS free games chart and "Honor of Kings" leading the iOS revenue chart as of September 13, 2025 [10][14]. - In August 2025, Chinese mobile game publishers collectively generated $2.04 billion, accounting for 35.1% of the global top 100 mobile game publishers' revenue [34]. - The film industry also performed well, with the movie "Chasing the Wind" achieving a weekly box office of 1.13 billion yuan, contributing to a cumulative box office of 11.14 billion yuan [25]. Game Sector Highlights - Upcoming game releases include "Greedy Land" on September 16 and "Pocket: Douluo Continent" on September 17, with significant anticipation from the gaming community [24]. - The "Supernatural Action Group" game features a new asymmetric gameplay mode, which has been well-received since its launch on September 11, 2025 [33]. AI Sector Highlights - The AI application landscape is evolving rapidly, with significant growth in products like Zhizhu Z.AI and Alibaba's WanAI, which ranked first and fourth respectively in global growth rates for AI applications [29]. - Alibaba's new model, Qwen3-Next-80B-A3B, has shown a 90% reduction in training costs and a tenfold increase in inference efficiency, marking a significant advancement in AI technology [31].

Core Viewpoint - The gaming sector has become a key focus for public funds, driven by international market expansion and artificial intelligence, leading to significant performance gains for fund managers [1][6]. Group 1: Fund Investment in Gaming Stocks - Public funds have increasingly concentrated their investments in gaming stocks, with notable companies like Giant Network, G-bits, ST Huaton, and Xindong Company showing impressive performance [3][4]. - As of September 11, 2023, stocks such as Giant Network and G-bits have seen price increases of approximately 2.5 times and 1.3 times, respectively, contributing significantly to fund performance [3][4]. - The total market value of public funds' holdings in media stocks reached 36.341 billion yuan, with gaming stocks accounting for 21.503 billion yuan, representing 59.17% of the total [4]. Group 2: Industry Growth and Performance - The gaming industry's recovery is characterized by rapid earnings growth, with companies like ST Huaton and Xindong Company reporting net profit increases of 129% and 268%, respectively [4][6]. - The Chinese gaming market's actual sales revenue reached 168 billion yuan in the first half of 2025, marking a year-on-year growth of 14.08% [6]. Group 3: International Expansion and AI Integration - The ability to expand internationally is crucial for gaming companies, with significant revenue growth from overseas markets, exemplified by ST Huaton's overseas game revenue reaching 8.9 billion yuan [6][10]. - The integration of artificial intelligence in gaming is expected to reduce development costs and enhance gameplay, providing new growth opportunities for companies in the sector [9][10]. Group 4: Regulatory Support - The rapid issuance of gaming licenses by the National Press and Publication Administration, with 946 licenses granted from January to July 2023, has bolstered confidence among fund managers in the gaming sector [7].

Core Viewpoint - The company announced a cash dividend distribution of 6.60 CNY per share (including tax) for the first half of 2025, approved by the board on August 19, 2025 [2][3]. Dividend Distribution Details - The cash dividend distribution is based on a total share capital of 72,041,101 shares, with 284,800 shares held in the company's repurchase account, resulting in 71,756,301 shares eligible for the dividend [3]. - The total cash dividend to be distributed amounts to 473,591,586.60 CNY (including tax) [3]. Taxation Information - For individual shareholders holding shares for over one year, the dividend income is exempt from personal income tax, resulting in an actual cash dividend of 6.60 CNY per share [10]. - For individual shareholders holding shares for one month or less, the effective tax burden is 20%, while for those holding between one month and one year, it is 10% [10]. - For qualified foreign institutional investors (QFII), a 10% withholding tax applies, leading to a net cash dividend of 5.94 CNY per share [11][12]. Implementation Method - The cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited, Shanghai Branch, to shareholders registered by the end of the trading day on the record date [7][8]. - Shareholders who have not completed designated transactions will have their dividends held by the clearing company until the transactions are completed [7]. 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 [12].

（文章来源：证券日报） 证券日报网讯 9月11日晚间，吉比特发布公告称，2025年半年度利润分配方案为A股每股现金红利6.6元 （含税），股权登记日为2025年9月18日，除权（息）日为2025年9月19日。 ...

以最新收盘价计算，A股平均股价为13.56元，其中股价超过100元的有149只，相比上一个交易日增加13 只。 百元股作为判定市场热度的信号之一，历来受到投资者关注。证券时报·数据宝统计显示，截至9月11日 收盘，沪指报收3875.31点，上涨1.65%，A股平均股价为13.56元，个股股价分布看，股价超过100元的 有149只，股价在50元至100元的有451只，股价在30元至50元的有790只。 股价超百元个股中，收盘价最高的是贵州茅台，今日报收1523.50元，上涨0.10%，其次是寒武纪、吉比 特等，最新收盘价分别为1387.00元、513.00元。 市场表现方面，收盘股价超百元股中，今日平均上涨4.59%，跑赢沪指2.94个百分点。今日上涨的有129 只，涨停的有深南电路、兆威机电等，下跌的有19只，跌幅居前的有百济神州、万辰集团等。 追溯发现，最新百元股近一个月平均上涨28.33%，其间沪指上涨6.61%，涨幅居前的有腾景科技、开普 云、中际旭创等，涨幅分别为129.92%、114.29%、110.21%，今年以来平均涨幅为90.68%，强于沪指 75.06%，累计涨幅居前的有胜宏科技、浙海德曼、 ...

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 天衡联合律师事务所 T & P A R T N E R S 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 2025 天衡厦意字 080 号 致:厦门吉比特网络技术股份有限公司 福建天衡联合律师事务所(以下简称"本所")接受厦门吉比特网络技术股 份有限公司（以下简称"吉比特"或"公司"）的委托，根据《中华人民共和国 公司法》（以下简称《公司法》）、《中华人民共和国证券法》（以下简称《证 券法》）、《上市公司股份回购规则》（以下简称《回购规则》）、《上海证券 交易所上市公司自律监管指引第 7 号――回购股份》（以下简称《监管指引第 7 号》）等相关法律、行政法规、部门规章和规范性文件以及《厦门吉比特网络技 术股份有限公司章程》(以下简称《公司章程》)的规定,按照律师行业公认的 业务标准、道德规范和勤勉尽责精神,为公司 2025 年半年度利润分配涉及的差 异化权益分派（以下简称"本次差异化权益分派"）的相关事项出 ...

证券代码：603444 证券简称：吉比特 公告编号：2025-038 厦门吉比特网络技术股份有限公司 2025年半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6.60元（含税） 相关日期 | 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 | | --- | --- | --- | --- | --- | | 股 A | 2025/9/18 | － | 2025/9/19 | 2025/9/19 | 二、分配方案 1、 发放年度：2025年半年度 2、 分派对象： 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"中国结算上海分公司"）登记在册的本公司全体股东。 1 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 号——回购股份》等相关法律、行政法规、部门规章、规范性文件以及《公司章 程》的规定，公司回购专用证券账户持有的股份不参与公司本次利润分配。 3、 ...

Market Overview - On September 11, the gaming sector rose by 0.91% compared to the previous trading day, with Jiubite leading the gains [1] - The Shanghai Composite Index closed at 3875.31, up 1.65%, while the Shenzhen Component Index closed at 12979.89, up 3.36% [1] Top Gainers in Gaming Sector - Jiubite (603444) closed at 513.00, up 7.25% with a trading volume of 28,100 lots and a transaction value of 1.398 billion [1] - Kaiying Network (002517) closed at 24.79, up 4.47% with a trading volume of 478,500 lots and a transaction value of 1.158 billion [1] - Shunwang Technology (300113) closed at 25.60, up 3.90% with a trading volume of 401,000 lots and a transaction value of 1.008 billion [1] Top Losers in Gaming Sector - Youzu Network (002174) closed at 13.02, down 10.02% with a trading volume of 248,900 lots [2] - Yaoji Technology (002605) closed at 29.12, down 1.99% with a trading volume of 327,600 lots [2] - ST Huatuo (002602) closed at 18.54, down 1.70% with a trading volume of 1,781,600 lots [2] Capital Flow Analysis - The gaming sector experienced a net outflow of 1.19 billion from institutional funds, while retail investors saw a net inflow of 1.562 billion [2] - Jiubite had a net inflow of 85.7214 million from institutional funds, while it faced a net outflow of 85.6085 million from speculative funds [3] - Shunwang Technology had a net inflow of 101 million from institutional funds, but a net outflow of 111 million from retail investors [3]

Summary of G-bits Conference Call Company Overview - G-bits is a gaming company that has recently launched new games, including "Wen Jie Chang Sheng" and "Zhang Jian Chuan Shuo," which have shown strong performance in both domestic and overseas markets [2][4]. Key Points and Arguments - **Strong Financial Performance**: G-bits reported exceptional financial results, exceeding expectations for three consecutive quarters. In Q2, the company confirmed a stable performance from existing products while new releases "Wen Jie Chang Sheng" and "Zhang Jian Chuan Shuo" achieved impressive results, with "Zhang Jian Chuan Shuo" generating 420 million in its first month and over 100 million in overseas markets [3][4]. - **Market Appeal of New Products**: Both "Wen Jie Chang Sheng" and "Zhang Jian Chuan Shuo" have performed well in the market. "Zhang Jian Chuan Shuo" achieved 420 million in domestic revenue and at least 100 million in overseas revenue in its first month, contributing significantly to G-bits' overall performance [2][4]. - **Future Growth Drivers**: Future growth for G-bits is expected to come from the continued strong performance of self-developed new products, enhanced overseas distribution capabilities, and the potential contribution from the agency product "Jiu Mu Zhi Ye." The agency product has received approval and is currently in testing [5]. - **Impact of Diverse User Base**: The success of G-bits' products, particularly "Zhang Jian Chuan Shuo," has been significantly influenced by a diverse user base, especially women under 30. This demographic has optimized the user acquisition model, leading to increased game revenue and profit margins [6]. - **Effectiveness of Overseas Strategy**: G-bits' overseas strategy, which had previously shown limited results, is now yielding positive outcomes. The company has strong products and over five years of overseas distribution experience, as evidenced by the success of "Zhang Jian Chuan Shuo" in regions like Hong Kong, Macau, and Japan [7]. - **Changes in Thunder Game's Strategy**: Thunder Game has shifted its focus and optimized its resources, concentrating its efforts on the SLG (Simulation Game) sector. This strategic adjustment is expected to lead to significant breakthroughs and provide new revenue growth opportunities for G-bits [8]. Additional Important Content - G-bits' performance in the second quarter has provided a stable foundation for the company's overall financial health, indicating a positive outlook for future quarters [2][3]. - The company's ability to adapt its marketing strategies to target specific user demographics has proven effective in enhancing revenue streams [6]. - The potential of the agency product "Jiu Mu Zhi Ye" could further diversify G-bits' offerings and contribute to its growth trajectory [5].