7月25日，游族网络（002174）与曦望Sunrise正式签署战略合作协议。此次合作，双方将重点聚焦人工 智能算力基础设施与游戏研发核心场景的耦合，通过定制GPU算力卡与分布式架构，围绕AIGC内容生 产、实时推理引擎优化及私有化算力集群构建等展开联动。(第一财经) ...

2025 年 07 月 22 日 投资评级：看好（维持） 行业走势图 数据来源：聚源 -19% 0% 19% 38% 58% 77% 2024-07 2024-11 2025-03 2025-07 传媒 沪深300 相关研究报告 传媒 《沿景气趋势，坚定布局游戏、线下 文 体 娱 、 AI 应 用 — 行 业 周 报 》 -2025.7.13 《继续布局游戏、AI 虚拟社交及线下 文娱 IP 消费—行业周报》-2025.7.6 《积极关注 AI 视频/虚拟社交商业化 及暑期文娱 IP 消费—行业周报》 -2025.6.29 继续布局 AI 应用及高景气的文娱 IP 消费 ——行业点评报告 方光照（分析师） fangguangzhao@kysec.cn 证书编号：S0790520030004 游戏、音乐、演唱会、国漫延续高景气，继续加码布局 （1）游戏：7 月 17 日，心动公司旗下《心动小镇》举行小马宝莉 IP 联动等周 年庆活动，七麦数据显示，当日 iPhone 游戏畅销榜排名最高升至第 8，或带来可 观流水增量；同日创梦天地、友谊时光分别发布半年度业绩预喜公告，创梦天地 预计 2025H1 实现净利润 2 ...

9、中央第四指导组组长车俊近日在中国汽车工业协会调研时强调，汽车企业特别是龙头企业要依法合 规理性竞争，发挥示范带动作用。行业协会要发挥好桥梁纽带作用，引导行业加强自律，联合抵制行业 非理性竞争，共同维护公平公正的市场竞争秩序。 10、中钢协7月15日在成都组织召开钢铁工业规划部长会，提出研究建立产能治理新机制，防范钢铁行 业产能过剩风险持续加剧，着力破除"内卷式"竞争，维护钢铁行业健康有序的生存和发展环境等。 智通财经7月21日早间新闻精选 1、雅鲁藏布江下游水电工程开工仪式7月19日上午在西藏自治区林芝市举行。国务院总理李强出席开工 仪式，并宣布工程正式开工。雅鲁藏布江下游水电工程将建设5座梯级电站，总投资约1.2万亿元。工程 电力以外送消纳为主，兼顾西藏本地自用需求。 2、工业和信息化部总工程师谢少锋在7月18日国新办新闻发布会上表示，加快发展生物制造、低空产 业，推动人形机器人、元宇宙、脑机接口等未来产业创新发展，超前布局新领域新赛道；将实施新一轮 钢铁、有色金属、石化、建材等十大重点行业稳增长工作方案，具体工作方案将在近期陆续发布。 3、工信部新闻发言人陶青在7月18日国新办新闻发布会上表示，近期将 ...

Group 1 - The company held its seventh board meeting on July 15, 2025, with all nine directors present, confirming the legality and validity of the meeting [1] - The board approved the extension of the second employee stock ownership plan for an additional six months, until January 21, 2026, due to confidence in the company's future development [1] - The proposal for the extension was unanimously supported by the employee stock ownership plan participants, with 8 votes in favor and no opposition or abstentions [2]

证券代码：002174 证券简称：游族网络 公告编号：2025-042 二、第二期员工持股计划存续期展期情况 鉴于本次员工持股计划存续期即将届满，其所持标的股份尚未出售或过户至 员工持股计划份额持有人。根据《游族网络股份有限公司第二期员工持股计划（草 案修订稿）》 《游族网络股份有限公司第二期员工持股计划管理办法（修订稿）》 等相关规定："本员工持股计划的存续期届满前，经出席员工持股计划持有人会 议（以下简称"持有人会议"）的持有人所持 2/3 以上份额同意并提交公司董事 会审议通过后，本员工持股计划的存续期可以延长。" 游族网络股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 游族网络股份有限公司（以下简称"公司"）于 2025 年 7 月 18 日召开第七 届董事会第十二次会议，审议通过了《关于第二期员工持股计划存续期展期的议 案》，同意将第二期员工持股计划存续期展期 6 个月，至 2026 年 1 月 21 日止。 现将相关情况公告如下： 一、第二期员工持股计划的基本情况 （一）公司于 2021 年 6 月 3 日召开第五届董事会第四十一次会 ...

证券代码：002174 证券简称：游族网络 公告编号：2025-042 游族网络股份有限公司 关于第二期员工持股计划存续期展期的公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 游族网络股份有限公司（以下简称"公司"）于 2025 年 7 月 18 日召开第七 届董事会第十二次会议，审议通过了《关于第二期员工持股计划存续期展期的议 案》，同意将第二期员工持股计划存续期展期 6 个月，至 2026 年 1 月 21 日止。 现将相关情况公告如下： 一、第二期员工持股计划的基本情况 （一）公司于 2021 年 6 月 3 日召开第五届董事会第四十一次会议、第五届 监事会第三十四次会议，于 2021 年 6 月 29 日召开了 2020 年年度股东大会，审 议通过了《关于修订公司<第二期员工持股计划(草案)>及其摘要的议案》《关于 修订公司<第二期员工持股计划管理办法>的议案》等相关议案，同意实施公司第 二期员工持股计划。具体内容详见公司于 2021 年 6 月 4 日及 2021 年 6 月 30 日 刊登在《中国证券报》《上海证券报》《证券时报》《证券日报》 ...

证券代码：002174 证券简称：游族网络 公告编号：2025-041 游族网络股份有限公司 第七届董事会第十二次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 游族网络股份有限公司（以下简称"公司"）第七届董事会第十二次会议于 2025 年 7 月 18 日在上海市徐汇区宜山路 711 号华鑫商务中心 2 号楼公司会议室 召开，会议通知已于 2025 年 7 月 15 日以邮件形式发出。会议以现场结合通讯表 决方式召开。会议应到董事 9 名，实到董事 9 名，公司高级管理人员列席会议。 会议的召开符合《中华人民共和国公司法》和《游族网络股份有限公司章程》的 有关规定，合法有效。 本次会议由董事长宛正先生主持，与会董事就本次会议议案进行了审议、表 决，形成了如下决议： 本议案已经公司第二期员工持股计划持有人会议审议通过。 同意该项议案的票数为 8 票；反对票 0 票；弃权票 0 票。 具体内容详见公司同日刊登于巨潮资讯网（www.cninfo.com.cn）的《关于 第二期员工持股计划存续期展期的公告》。 二、报备文件 （一）第七届董事会第十二次 ...

Core Viewpoint - The gaming industry in China is experiencing a significant recovery in the first half of the year, as evidenced by the performance forecasts of several A-share gaming companies, with many reporting substantial profit growth or turning losses into profits [1][2]. Financial Performance - ST华通 (Century Huatong) is expected to achieve a net profit of 2.4 billion to 3 billion yuan, representing a growth of 107.20% to 158.00% [2] - 浙数文化 (ZheShu Culture) anticipates a net profit of 330 million to 390 million yuan, with a growth of 124% to 165% [2] - 游族网络 (Youzu Network) forecasts a net profit of 40 million to 60 million yuan, marking an increase of 768.75% to 1203.13% [2] - 完美世界 (Perfect World) and 冰川网络 (Icefire Network) are expected to turn losses into profits, with 完美世界 projecting a profit of 480 million to 520 million yuan [2][6] - ST凯文 (ST Kevin) expects to maintain a loss level similar to last year, with a projected loss of 65 million to 48 million yuan [2] - 电魂网络 (Dianhun Network) anticipates a loss of 11 million to 7.5 million yuan, indicating a shift from profit to loss [2] Cost Control as a Key Factor - Cost control has emerged as a critical factor for gaming companies to avoid losses, with companies like 完美世界 and 冰川网络 attributing their turnaround to reduced investment in underperforming projects [1][4] - High distribution costs have made it challenging for gaming companies to maintain profitability [2][3] Market Environment - The number of game licenses issued in the first half of the year has significantly increased compared to last year, with the domestic mobile game market growing by 20% year-on-year [1][7] - The gaming market is characterized by intense competition, with a focus on product quality as a determinant of success [1][8] Long-term Products and New Releases - Long-standing products are crucial for the stability of gaming companies, providing a solid revenue base amid market growth [7] - New blockbuster games remain essential for driving rapid revenue growth, as seen with ST华通's new release, which has performed exceptionally well in the market [9][10] Industry Trends - The gaming industry is witnessing a recovery in market sentiment, with a notable increase in the issuance of domestic game licenses and the integration of AI technology enhancing operational efficiency [8] - The upcoming release of major titles from leading companies is expected to intensify market competition [10]

Core Viewpoint - Sunrise, a domestic full-stack self-research AI computing chip company, has completed nearly 1 billion RMB in its latest financing round, indicating strong investor confidence and growth potential in the high-end GPU sector [1] Company Summary - The latest financing round was led by notable investment institutions including SANY Group's Huaxu Fund, Fourth Paradigm, Youzu Network, Beijing Lier, Songhe Capital, and Haitong Kaiyuan [1] - The funds raised will primarily be used for product research and development, market expansion, and team building, which will further solidify Sunrise's leading position in the domestic high-end GPU market [1]

Group 1 - Pop Mart (HK 09992) expects a revenue increase of at least 200% and a profit increase of at least 350% in the first half of the year compared to the same period last year, with revenue reaching at least 13.7 billion yuan [1] - The "Guzi Economy" concept stocks have gained attention, with 38 companies in the A-share market, of which 22 have released ESG reports for 2024, resulting in a disclosure rate of 58% [2][4] - Only 2 companies within the "Guzi Economy" concept stocks have an ESG rating of A, indicating a low percentage of 5.26% for A-rated companies in this sector [2][4] Group 2 - The "Guzi Economy" concept stocks primarily focus on social dimensions rather than environmental issues, leading to a lack of attention to sustainability governance [2][5] - The top 10 companies by market value in the "Guzi Economy" have only 2 that disclosed their direct and indirect greenhouse gas emissions, with none reporting on scope three emissions [2][4] - The industry faces challenges with IP infringement, highlighting the need for a robust copyright protection system [6][7] Group 3 - Cultural export has become a distinctive topic, with companies integrating ESG into their global strategies to enhance compliance and brand reputation [8] - Companies like Youzu Network have successfully expanded their cultural reach globally, partnering with over 1,000 partners and reaching nearly 1 billion users [8] - Recommendations include establishing sustainable development standards for the "Guzi Economy" to better guide companies in their sustainable practices [9]