Core Viewpoint - Jibite announced a cash dividend plan for the first half of 2025, proposing a distribution of 66 yuan per share, totaling approximately 474 million yuan, which represents 73.46% of its net profit, with a dividend yield of 2.76% based on the average trading price [1][4]. Group 1: Financial Performance - In the first half of 2025, Jibite achieved operating revenue of 2.518 billion yuan, a year-on-year increase of 28.49% [4]. - The net profit attributable to shareholders was 645 million yuan, reflecting a year-on-year growth of 24.50% [4]. - The net cash flow from operating activities reached 1.077 billion yuan, showing a significant year-on-year increase of 81.18% [4]. Group 2: Dividend History - Since its listing in 2017, Jibite has implemented 12 cash dividends, totaling over 6 billion yuan, which exceeds the 960 million yuan raised during its IPO [4]. - The company’s 2021 annual report featured a notable dividend of 160 yuan per 10 shares, amounting to 1.15 billion yuan, with a cash dividend ratio of 78.30% [4]. - The high dividend payout has significantly benefited the company's controlling shareholder, Chairman Lu Hongyan, who holds 29.72% of the shares and is expected to receive approximately 141 million yuan in cash dividends for the first half of 2025 [4]. Group 3: Business Operations - Jibite focuses on the research and operation of online games, launching two self-developed new titles, "Staff Sword Legend" and "Question Sword Longevity," in the first half of 2025, contributing to revenue and profit growth [5]. - The company continues to iterate on several classic IP games, enhancing player experiences and solidifying its long-term development foundation [5]. - The self-operated platform, Thunder Games, supports the performance of both self-developed and agency products through its accumulated operational capabilities [5].

Core Insights - The online gaming sector experienced significant fluctuations, with notable stocks like G-bits hitting the upper limit of their trading range, and Xunyou Technology rising over 10% [1] Company Performance - G-bits reached its trading limit, indicating strong investor interest and potential bullish sentiment in the market [1] - Xunyou Technology saw an increase of more than 10%, reflecting positive market dynamics and investor confidence [1] - Other companies in the sector, including Kaiying Network, Shenzhou Taiyue, and Perfect World, also experienced upward movement, suggesting a broader trend in the online gaming industry [1]

Market Overview - On August 20, A-shares opened lower across the board, with the Shanghai Composite Index down 0.28%, the Shenzhen Component down 0.61%, and the ChiNext Index down 1.14%. By the time of reporting, the Shanghai Composite Index had turned positive, rising by 0.07%. The total trading volume in the Shanghai, Shenzhen, and North markets was 704 billion yuan, a decrease of 63.5 billion yuan compared to the same time the previous day [1]. Gaming Sector Performance - The gaming sector showed strength, with stocks such as Gigabit (603444) hitting the daily limit, and other companies like Xunyou Technology, Kaiying Network, Perfect World, and Giant Network also experiencing gains. This surge was influenced by the announcement of the latest game "Black Myth: Wukong" by Game Science during the opening night of the International Games Expo in Cologne, Germany [2][3]. Key Stock Movements - Notable stock performances included: - Gigabit (603444) at 421.19 yuan, up 10.00% [4] - Xunyou Technology (300467) at 25.58 yuan, up 9.22% [4] - ST Zhongqingbao (300052) at 11.54 yuan, up 4.06% [4] - Perfect World (002624) at 15.82 yuan, up 2.86% [4] - Kaiying Network (002517) at 20.65 yuan, up 2.63% [4] Game Science Developments - Game Science founder Feng Ji expressed on Weibo that after the release of "Black Myth: Wukong," the team is focused on developing a new title in the "Black Myth" series, featuring new heroes, gameplay, visuals, technology, and stories. He indicated that the legend of Wukong will return in a more complete and solid form in the future [5]. - The flagship 3A game "Black Myth: Wukong" was released in August 2024, generating significant buzz and discussions both domestically and internationally, with sales surpassing 10 million copies within four days and reaching 18 million copies globally within two weeks [5].

Investment Rating - The investment rating for the company is maintained as "Buy" with a target price of RMB 565.66 [1][5]. Core Views - The company reported strong H1 performance with revenue of RMB 2.518 billion, a year-on-year increase of 28.49%, and a net profit of RMB 645 million, up 24.50% year-on-year. The growth is attributed to new game contributions [1]. - The company plans to distribute a cash dividend of RMB 66 per 10 shares, totaling approximately RMB 474 million, which represents 73.46% of H1 net profit [1]. - The outlook for the company's domestic game business remains positive, with expectations for continued stable growth and new developments in overseas game operations [1]. Summary by Sections H1 Performance - In H1 2025, the company achieved revenue of RMB 2.518 billion, a year-on-year increase of 28.49%, and a net profit of RMB 645 million, up 24.50% year-on-year. The Q2 results showed revenue of RMB 1.382 billion, a year-on-year increase of 33.89% and a quarter-on-quarter increase of 21.71% [1]. Game Performance - The newly launched game "杖剑传说" generated RMB 424 million in revenue in Q2 2025. The game "问剑长生" also showed strong performance with Q2 revenue of RMB 203 million, reflecting a 42.9% quarter-on-quarter increase [2]. - The company's overseas game revenue in H1 2025 was RMB 201 million, a year-on-year decrease of 21.01%, primarily due to declines in revenue from "飞吧龙骑士" and "一念逍遥" [3]. Financial Metrics - The gross margin for H1 2025 was 92.31%, an increase of 4.10 percentage points year-on-year, attributed to reduced costs from external developers [4]. - The company has adjusted its net profit forecasts for 2025-2027, increasing the estimates to RMB 1.63 billion, RMB 1.82 billion, and RMB 1.93 billion respectively, reflecting a significant upward revision [5]. Valuation - The target price has been adjusted to RMB 565.66 based on a price-to-earnings (PE) ratio of 25 times for 2025, up from a previous target of RMB 376.94 [5].

Core Viewpoint - The gaming sector experienced a significant rally, with Jibite reaching its daily limit, driven by positive financial results and dividend announcements [1] Group 1: Company Performance - Jibite reported a net profit of approximately 645 million yuan for the first half of 2025, representing a year-on-year increase of 24.5% [1] - The company plans to distribute a cash dividend of 66.00 yuan per 10 shares (including tax) to all shareholders [1] Group 2: Industry Movement - The gaming sector saw a broad increase, with several companies such as Xunyou Technology rising over 10%, and others like Kaiying Network, Shenzhou Taiyue, Perfect World, and Giant Network also experiencing gains [1]

Core Insights - Company G-bits reported a revenue of 2.518 billion yuan for the first half of 2025, representing a year-on-year growth of 28.49% [2] - The net profit attributable to shareholders reached 645 million yuan, an increase of 24.50% year-on-year [2] - The net cash flow from operating activities was 1.077 billion yuan, showing a significant growth of 81.18% [2] - A cash dividend of 66 yuan per 10 shares is proposed, totaling approximately 474 million yuan, which accounts for 73.46% of the net profit for the period [2] Revenue Growth Drivers - The company focuses on the research and operation of online games, with two self-developed new products, "Staff Sword Legend" and "Question Sword Longevity," launched in the first half of 2025, contributing to revenue and profit growth [4] - Classic IP games continue to be iterated, providing fresh experiences for players and solidifying the company's long-term development foundation [4] - The long-term operation of "Question Dao" online game, which has been running for over 19 years, demonstrates its enduring vitality [4] Future Development Strategy - The company plans to continue investing in research and development, focusing on three types of projects: commercially successful and enjoyable projects, enjoyable projects that break even or incur small losses, and technology exploration projects [5] - The operational focus will be on core product operations and user services to enhance the efficiency of publishing business [5] - The company aims to promote global distribution of two new products, with "Question Sword Longevity" expected to launch in South Korea and other regions in the second half of the year [5] - A new Three Kingdoms-themed seasonal SLG mobile game, "Nine Shepherds of the Wild," has obtained a license and is highly anticipated by players [5] - Since its IPO in 2017, the company has distributed a total of 6.489 billion yuan in cash dividends, which is 7.21 times the net proceeds from the IPO [5]

每经AI快讯，8月20日，吉比特盘中涨停，涨幅10.0%，成交额超7亿元。 （文章来源：每日经济新闻） ...

Core Viewpoint - The article highlights the strong financial performance of Jibite in the first half of 2025, driven by new product launches and sustained operations of classic IP games, alongside a significant cash dividend proposal for shareholders [3][6]. Financial Performance - In the first half of 2025, Jibite achieved operating revenue of 2.518 billion yuan, representing a year-on-year growth of 28.49% [3]. - The net profit attributable to shareholders reached 645 million yuan, with a year-on-year increase of 24.50% [3]. - The net cash flow from operating activities was 1.077 billion yuan, showing a substantial growth of 81.18% year-on-year [3]. - The company proposed a cash dividend of 66 yuan per 10 shares (including tax), totaling approximately 474 million yuan, which accounts for 73.46% of the net profit for the period [3]. Product Development and Performance - Jibite focuses on the research and operation of online games, with two self-developed new products, "Zhang Jian Chuan Shuo" and "Wen Jian Chang Sheng," launched in the first half of 2025, contributing to significant revenue and profit growth [6]. - The company continues to iterate on several classic IP games, enhancing player experience and solidifying long-term development [6]. - The game "Wen Dao" has been in operation for over 19 years, demonstrating its enduring appeal, while "Wen Dao Mobile" has been providing rich content for players for 9 years [6]. Future Strategy - Jibite plans to maintain its investment in research and development, focusing on three types of projects: commercially successful and engaging projects, projects that are fun but may break even or incur small losses, and technology exploration projects [8]. - The company aims to concentrate resources on core product operations and user services to enhance operational efficiency [8]. - Jibite is set to launch "Wen Jian Chang Sheng" globally in the second half of the year, with additional plans for a Three Kingdoms-themed SLG mobile game "Jiu Mu Zhi Ye," which has already obtained a license and is undergoing testing [8]. - Since its IPO in 2017, Jibite has distributed a total of 6.489 billion yuan in cash dividends, which is 7.21 times the net amount raised from the IPO [8].

游戏板块走强，吉比特涨超8%，迅游科技、恺英网络、完美世界、巨人网络等个股跟涨。 ...

Core Viewpoint - Jibite, a prominent player in the A-share market, has announced a generous dividend plan, distributing 66.00 CNY per 10 shares to all shareholders, reflecting a commitment to shareholder returns [1][4]. Financial Performance - In the first half of 2025, Jibite reported a revenue of 2.518 billion CNY, marking a year-on-year increase of 28.49% [4]. - The net profit attributable to shareholders reached 645 million CNY, up 24.50% year-on-year [4]. - The net cash flow from operating activities was 1.077 billion CNY, showing a significant growth of 81.18% [4]. Dividend Distribution - The proposed dividend distribution totals approximately 474 million CNY, which constitutes 73.46% of the net profit for the period [4]. - Since its listing in 2017, Jibite has implemented 12 cash dividend distributions, totaling over 6 billion CNY, significantly exceeding the 960 million CNY raised during its IPO [9][10]. Product Development and Market Strategy - Jibite focuses on the development and operation of online games, with two self-developed new titles, "Zhang Jian Chuan Shuo" and "Wen Jian Chang Sheng," launched in the first half of 2025, contributing to revenue growth [5]. - The company continues to iterate on classic IP games, enhancing player experience and ensuring long-term stability [5]. - Future R&D investments will target three project categories: commercially successful projects, projects at breakeven or slight loss, and technology exploration projects [8]. Operational Efficiency - The self-operated platform, Thunder Games, supports the performance of both self-developed and agency products, leveraging years of operational experience [7]. - Jibite plans to focus resources on core product operations and user services to improve operational efficiency [8]. Financial Health - As of June 30, 2025, Jibite's debt-to-asset ratio was approximately 32%, with cash reserves amounting to 3.493 billion CNY, providing a solid foundation for high dividend payouts [10]. - The chairman, Lu Hongyan, holds a 29.72% stake in the company, which translates to an estimated cash dividend of 141 million CNY for the first half of 2025 [10].