Group 1 - The average stock price of A-shares is 13.56 yuan, with 149 stocks priced over 100 yuan, an increase of 13 stocks compared to the previous trading day [1] - The Shanghai Composite Index closed at 3875.31 points, up 1.65%, while stocks over 100 yuan had an average increase of 4.59%, outperforming the index by 2.94 percentage points [1] - The highest closing price among stocks over 100 yuan is Kweichow Moutai at 1523.50 yuan, followed by Cambrian and G-bits at 1387.00 yuan and 513.00 yuan respectively [1] Group 2 - In the past month, stocks over 100 yuan have averaged a 28.33% increase, while the Shanghai Composite Index rose by 6.61% [2] - Notable performers include Tengjing Technology, Kaipu Cloud, and Zhongji Xuchuang, with increases of 129.92%, 114.29%, and 110.21% respectively [2] - Year-to-date, the average increase for these stocks is 90.68%, surpassing the Shanghai Composite Index's 75.06% [2] Group 3 - Tengjing Technology's stock price has crossed the 100 yuan mark for the first time, closing at 101.44 yuan with a 20.00% increase and a turnover rate of 0.15% [2] - The electronic industry has the highest concentration among stocks over 100 yuan, with 47 stocks, accounting for 31.54% of the total [2] - Institutional ratings show that seven stocks over 100 yuan received "buy" ratings today, with Yuyou Green Energy and Gujing Gongji being newly covered by institutions [2] Group 4 - Among the stocks rated by institutions, two stocks have an upside potential exceeding 20%, with Yuyou Green Energy having the highest potential at 34.56% [3] - The stock list includes Kweichow Moutai, Cambrian, and G-bits, with respective closing prices of 1523.50 yuan, 1387.00 yuan, and 513.00 yuan [3][4] - The electronic sector continues to dominate the high-priced stock list, with several companies showing significant price increases [4][5]

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].

Investment Rating - The report upgrades the investment rating for the media sector to "Outperform" [1] Core Insights - The media sector shows significant revenue growth with a notable divergence among sub-sectors. The overall revenue for the media sector reached 272.89 billion yuan in H1 2025, marking a year-on-year increase of 2.91%, while the net profit attributable to shareholders surged by 38.08% to 22.27 billion yuan [7][14] - The gaming sector exhibits high market vitality and robust fundamentals, with a year-on-year revenue increase of 23.78% in H1 2025, reaching 47.90 billion yuan, and a net profit increase of 74.54% to 8.22 billion yuan [27][38] - The film sector experienced a significant drop in performance in Q2 2025 after a strong Q1, with total box office revenue for H1 2025 at 29.23 billion yuan, up 22.29% year-on-year, primarily driven by the Spring Festival [58][60] - The publishing sector faced revenue declines due to changes in educational book ordering policies, but profit growth was supported by favorable tax policies [27][60] - The advertising sector showed steady revenue growth, with a focus on the recovery of advertising demand driven by improvements in the economic and consumer environment [5][27] Summary by Sections Overview - The media sector's overall revenue reached 2728.86 billion yuan in H1 2025, a record high, with a net profit of 222.74 billion yuan, marking a significant recovery from the previous year [14][7] Gaming - The gaming market size reached 1680 billion yuan in H1 2025, with a user base of approximately 679 million, reflecting a year-on-year growth of 14.08% [29][32] - The gaming sector's revenue for H1 2025 was 478.98 billion yuan, with a net profit of 82.20 billion yuan, indicating strong growth potential [38][40] Film - The film sector's revenue for H1 2025 was 184.39 billion yuan, with a net profit of 17.24 billion yuan, showing a year-on-year increase of 17.16% and 120.85% respectively [60][64] - The film market saw a significant decline in Q2 2025, with box office revenue dropping to 4.84 billion yuan, a decrease of 34.71% year-on-year [58][59] Publishing - The publishing sector's revenue was 664.72 billion yuan in H1 2025, down 8.19% year-on-year, but net profit increased due to tax policy changes [27][60] Advertising - The advertising sector's revenue reached 1021.16 billion yuan in H1 2025, with a net profit of 36.88 billion yuan, reflecting a year-on-year increase of 2.34% [28][5] Broadcasting - The broadcasting sector continues to face challenges, with ongoing losses for eight consecutive quarters [27][5] Internet Media - The internet media sector's performance is heavily influenced by individual company results, with varying degrees of success across the board [27][5]

Core Insights - G-bits stock price increased by 2.10% on September 5, reaching 455.68 CNY per share, with a total market capitalization of 32.83 billion CNY [1] - The company has seen a year-to-date stock price increase of 111.60%, with a 17.35% increase over the past 20 days [1][2] - G-bits reported a revenue of 2.518 billion CNY for the first half of 2025, reflecting a year-on-year growth of 28.49% [2] Financial Performance - G-bits achieved a net profit of 645 million CNY in the first half of 2025, marking a 24.50% increase compared to the previous year [2] - Cumulative cash dividends since the company's A-share listing amount to 6.016 billion CNY, with 2.444 billion CNY distributed over the last three years [3] Shareholder Information - As of June 30, 2025, the number of G-bits shareholders decreased by 16.51% to 17,900 [2] - The top ten circulating shareholders include significant institutional investors, with Hong Kong Central Clearing Limited being the third-largest shareholder, increasing its holdings by 54,200 shares [3]

汇安核心资产混合A（009381）基金经理为陆丰。 截至发稿，陆丰累计任职时间5年120天，现任基金资产总规模5.01亿元，任职期间最佳基金回报 38.76%， 任职期间最差基金回报-38.56%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、任何形式的表述等）均只作为参考，不构成个人投资建 议。 责任编辑：小浪快报 9月3日，吉比特涨5.22%，截至发稿，报475.09元/股，成交3.58亿元，换手率1.07%，总市值342.26亿 元。 资料显示，厦门吉比特网络技术股份有限公司位于福建省厦门软件园二期望海路4号101室，成立日期 2004年3月26日，上市日期2017年1月4日，公司主营业务涉及专业从事网络游戏创意策划、研发制作及 商业化运营。 从基金十大重仓股角度 数据显示，汇安基金旗下1只基金重仓吉比特。汇安核心资产混合A（009381）二季度持有股数1.52万 股，占基金净值比例为2.04%，位居第七大重仓股。根据测算，今日浮盈赚取约35.83万元。 汇安核心资产混合A（009381）成立日期2020年6月16日 ...

Summary of G-bits Conference Call Company Overview - **Company**: G-bits - **Industry**: Gaming Key Points and Arguments Performance of "Sword Legend" - G-bits benefited significantly from the unexpected performance of "Sword Legend," achieving a revenue of 424 million yuan in Q2 2025, with continued strong sales in July and August, averaging about 200 million yuan per month, which has notably improved the annual profit forecast [2][6] - The overseas version of "Sword Legend" performed exceptionally well in the Hong Kong, Macau, and Taiwan markets, ranking in the top three on the bestseller list, contributing significantly to overseas revenue [2][5] - Analysts have raised G-bits' annual profit forecast to 1.5-1.6 billion yuan, a 50%-60% increase from previous expectations of 800-900 million yuan, primarily due to the strong performance of "Sword Legend" [2][6] Financial Highlights - G-bits reported a gross margin of 93.5% in Q2 2025, the highest in nearly five years, reflecting a year-on-year increase of 6 percentage points and a quarter-on-quarter increase of 2 percentage points, indicating a significant improvement in profitability [2][11] - The revenue recognition ratio for "Sword Legend" has been maintained at around 80%, contributing positively to the company's income [11] Future Projections - For "Sword Legend," the iOS revenue slightly declined by 20%-30% in early September compared to late August, but this was within expectations. The forecast for 2026 anticipates stable monthly revenues of 100-150 million yuan for the domestic version and about 100 million yuan for the overseas version, totaling over 2 billion yuan annually [7][8] - The performance of "Dao You Lai Wa Bao," a mini-program game, has been strong, quickly rising to the top of the mini-game bestseller list, with potential monthly revenues reaching around 100 million yuan if it maintains a top-three position [10] Stability of Existing Products - The mobile game "Wandao" maintained stable performance, with Q2 2025 revenue holding steady year-on-year. The desktop version also showed stability, with last year's revenue at 1.12 billion yuan [3][9] - Despite market competition, "Wandao" is expected to maintain revenue between 450-500 million yuan in Q3 2025 [9] Upcoming Projects and Innovations - G-bits plans to launch "Jiu Mu Zhi Ye," a Three Kingdoms-themed SLG game, which has received positive feedback from testing and is expected to contribute positively to the company's performance [12] - The company is also exploring new projects that may be launched by the end of this year or early next year, leveraging AI technology for innovation [13] Long-term Outlook - G-bits is recognized for its strong R&D capabilities, with ongoing projects expected to be reported and launched in 2026, indicating a high potential for growth and investment value [16] - The company has maintained a high dividend payout ratio of 73.5% in the mid-year report, reflecting its commitment to shareholder returns [12] Market Context - The overall gaming industry has shown robust performance in 2025, with a year-on-year growth rate of approximately 20%, highlighting the competitive landscape in which G-bits operates [4] Additional Important Insights - G-bits' strategic focus on self-developed games and high-quality offerings has positioned it favorably within the A-share market, despite challenges faced in previous years [4][16] - The company’s ability to adapt and innovate in a competitive market is crucial for sustaining growth and profitability in the future [12][16]

Summary of Conference Call Records Industry Overview - The gaming industry is expected to see significant growth in 2025, with an estimated increase of approximately 14% in the first half of the year, and mobile gaming growth at 19%, surpassing the 7.5% growth in 2024 [1][2] - The valuation of the gaming sector has shifted from a range of 15-20 times PE to 20-25 times PE, with leading companies nearing a valuation of 25 times [1][2] Key Points and Arguments - Major companies have exceeded market expectations in product revenue, leading to upward revisions in EPS forecasts for 2025 and 2026, with many companies experiencing growth rates of over 20%, and some even doubling their performance [1][2] - The gaming sector's valuation is expected to transition to 25 times by 2026, driven by clear revenue contributions from single products and sustained high growth [1][5] - The third quarter of 2025 is anticipated to show significant growth, with some companies expected to double their revenue, supported by major product contributions [6][7] Company-Specific Insights - **Giant Network**: The core product "Supernatural Action" is expected to maintain stable revenue post-summer, with Q3 performance projected to at least double compared to Q2. The company is also expected to see close to double growth in 2026, with a valuation of 20-25 times [3][10] - **G-bits**: The company has shown the highest year-on-year growth in Q3, driven by the new game "Sword" and a low base from the previous year. The overseas market performance has also been strong [11][12] - **Century Huatong**: The company has maintained stable revenue levels, with significant contributions from both new and existing products [8][13] Policy and Market Environment - There is a noticeable upward trend in policy support for the gaming industry, with an increase in the number of game approvals and local incentives for game development [4][5] - The market sentiment is optimistic, with a bullish atmosphere contributing to the early transition of valuations towards 2026 [5][6] Emerging Trends - The gaming industry has experienced four significant changes in 2025: improved product quality, increased net profit margins, expanded user demographics, and a shift in business models from project-based to platform-based operations [15] - Companies like Kaiyin Network and Xindong have successfully transitioned to platform-based models, resulting in substantial revenue and profit margin improvements [16][17] Conclusion - The gaming sector is poised for continued growth, with strong performances from leading companies and supportive market conditions. The anticipated changes in valuation and business models suggest a robust future for the industry, with significant opportunities for investment in key players.