Core Insights - The 2025 World Artificial Intelligence Conference (WAIC) opened on July 26, showcasing the evolution of AI in China from research to practical applications in daily life [1] - The AI industry in China is experiencing rapid growth, with market size projected to increase from 213.7 billion yuan in 2022 to 352.2 billion yuan by the end of 2025, reflecting an average growth rate of 25.7% [6] Company Highlights - Shanghai Heptagon Robot Technology Co., Ltd. presented its "COFE+ 6th generation" coffee robot, which has a lifespan of over 500,000 cups and can produce more than 1,000 cups daily with minimal operational errors [2] - Star Ring Technology introduced its new AI infrastructure technology at WAIC, aimed at supporting enterprises in their AI transformation by providing comprehensive capabilities from data preparation to agent construction [2][3] - Fourier showcased its third-generation GR-3 humanoid robot, designed for interactive companionship, and its upgraded "Embodied Intelligent Rehabilitation Port," which has been implemented in over 300 medical facilities nationwide [3] - Youzu Network became the vice president unit of the Shanghai Artificial Intelligence Industry Association, focusing on AI innovations in the gaming sector [4][5] Industry Trends - The shift from general AI models to industry-specific models is seen as a necessary trend, with companies needing specialized agents that understand business language and domain knowledge [3] - The AI technology is redefining data value across various sectors, accelerating the intelligent transformation of business processes [2] - The AI industry in China is becoming a core component of many enterprises, with the number of AI-related companies increasing by 376% since 2020 [6] Policy and Governance - The "Global Governance Action Plan for Artificial Intelligence" was launched at WAIC, promoting innovation and collaboration while addressing governance challenges in AI [7] - China is positioning itself as a strong competitor in the global AI landscape, transitioning from a follower to a leader through robust policy guidance and ecosystem development [7][8]

Group 1 - The core viewpoint of the news is that Youzu Interactive has been appointed as the vice president unit of the Shanghai Artificial Intelligence Industry Association, highlighting the growing importance of the gaming industry in the AI ecosystem and its role in driving technological implementation and innovation [1][3]. - The Shanghai Artificial Intelligence Industry Association encompasses a full chain of enterprises from basic research to industrial application, and Youzu's unique advantages in the "AI + gaming" sector provide a solid foundation for the large-scale application of AI technology [1][2]. - Youzu Interactive has established an integrated AI platform that enhances automation, standardization, and scalability in various production areas, including art asset production, code generation, TTS voice generation, and localization translation, thereby improving the industrialization level of game development [2]. Group 2 - The company has developed a comprehensive AI tool matrix that includes intelligent BI, translation platforms, content risk control, intelligent operation and maintenance, and automated testing, enhancing operational efficiency across the entire game publishing process [2]. - Youzu Interactive's strategic collaboration with domestic AI chip company Sunrise focuses on coupling AI computing infrastructure with core game development scenarios, aiming to optimize AIGC content production and real-time inference engines [2]. - With over 1 billion global users' data accumulated over more than a decade, Youzu's digital assets are expected to become a significant growth point for its AI strategy, contributing to the intelligent upgrade of the global gaming industry [3].

Core Viewpoint - The upcoming WAIC 2025 in Shanghai will serve as a significant platform for showcasing cutting-edge AI technologies and industry practices, with a focus on the collaboration between Youzu Network and Sunrise AI to enhance AI capabilities in game development [1][2]. Group 1: Strategic Collaboration - Youzu Network and Sunrise AI have signed a strategic cooperation agreement to leverage their technological strengths in AI computing power and game development [1][2]. - The collaboration aims to integrate customized GPU computing cards and distributed architecture to enhance AIGC content production and real-time inference engine optimization [2][3]. - This partnership is positioned to address the core challenges of intelligent upgrades in the gaming industry, emphasizing the importance of stable computing power for Youzu Network's future developments [2][3]. Group 2: AI Ecosystem Development - The partnership is part of Youzu Network's broader strategy to build a comprehensive AI cultural entertainment ecosystem, enhancing its AI infrastructure capabilities [3]. - Youzu Network has been actively expanding its AI ecosystem, collaborating with leading companies like Volcano Engine and Inspur, and this partnership with Sunrise AI completes its AI computing infrastructure puzzle [3]. - The collaboration is expected to provide significant insights for industry practices, as the domestic AI sector continues to grow rapidly, becoming a core driver of digital economic growth [3].

Core Insights - The strategic partnership between Youzu Interactive and Sunrise aims to build an AI computing foundation to promote the intelligent upgrade of the gaming industry [2] - The collaboration will focus on integrating AI computing infrastructure with core gaming development scenarios, utilizing customized GPU computing cards and distributed architecture [2] - This partnership is a significant step towards the innovative integration of "AI + gaming," driving technological advancement and paradigm shifts in the gaming industry [2] Company Overview - Youzu Interactive operates in multiple sectors including game development, publishing, artificial intelligence, and IP management, with users across over 200 countries and regions [3] - The company has established an "AI Innovation Institute" and collaborates with notable firms like Volcano Engine and Inspur to expand AI technology applications in interactive entertainment [3] Sunrise Overview - Sunrise, previously the chip division of SenseTime, became an independent full-stack AI computing chip company by the end of 2024, focusing on high-performance GPU and multi-modal scene inference chip development [3] - The core technical team consists of approximately 150 members, primarily from AMD, Baidu, Alibaba, and SenseTime, achieving significant results in chip development with successful tape-outs of two generations of chips [3] - Sunrise's product line includes the S1, S2, and S3 GPUs, each targeting different application scenarios [3]

证券代码：002174 证券简称：游族网络 公告编号：2025-043 个月、24 个月、36 个月，在满足相关条件的前提下，分 3 期解锁，解锁比例分 别为 30%、30%、40%，均自本员工持股计划草案经公司股东大会审议通过且公司 公告最后一笔标的股票过户至本员工持股计划名下之日（即 2022 年 7 月 25 日） 起计算。截至 2025 年 7 月 25 日，公司第三期员工持股计划第三个锁定期已经届 满，可解锁比例为本员工持股计划持股总数的 40%，即 6,176,560 股，占公司目 前总股本的 0.66%。 游族网络股份有限公司 关于第三期员工持股计划第三个锁定期届满的 提示性公告 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"或"游族网络"）于 2022 年 6 月 13 日召开第六届董事会第八次会议、第六届监事会第六次会议，于 2022 年 6 月 29 日召开了 2021 年度股东大会，审议通过了《关于公司<第三期员工持股计划 （草案）>及其摘要的议案》等第三期员工持股计划（以下简称"本员工持股计 划" ...

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) ...

Investment Rating - The report maintains a "Positive" investment rating for the media industry [1] Core Insights - The media industry continues to show high growth potential, particularly in gaming, offline entertainment, and AI applications. The report emphasizes the importance of investing in these sectors to capitalize on ongoing trends [4][5] Industry Data Overview - The game "Delta Force" ranks first on the iOS free chart in mainland China, while "Honor of Kings" holds the top position on the iOS revenue chart as of July 19, 2025 [12][14] - The film "Jurassic World: Rebirth" achieved the highest box office revenue for the week [12] Gaming Sector - The gaming sector is experiencing a new product cycle, with companies like Xindong and Youyi Time reporting positive earnings forecasts for H1 2025, driven by new game launches and improved profit margins [4] - The report recommends focusing on high-potential gaming companies such as Xindong, Giant Network, and Perfect World [4] Online Music Sector - The online music market has significant growth potential, especially among younger users. The report highlights the increasing user base and potential for higher ARPU compared to international platforms like Spotify [4] Concert and Live Events - The concert industry is expected to maintain high growth, with a reported 78% year-on-year increase in box office revenue for large concerts in 2024 [4] Domestic Animation - The domestic animation sector is thriving, with successful releases like "The Legend of Luo Xiaohei 2" and upcoming events such as ChinaJoy 2025 expected to drive consumer engagement and spending [4] AI Applications - Recent advancements in AI, including the release of new models and applications, are anticipated to accelerate commercialization in various sectors, including AI companionship, creation, and marketing [5] Company Performance - The report highlights key companies in the gaming and entertainment sectors, recommending specific stocks based on their performance and market position [4][5]

Group 1 - The Yarlung Tsangpo River downstream hydropower project has officially commenced with a total investment of approximately 1.2 trillion yuan, aiming to build five tiered power stations primarily for electricity transmission and local consumption in Tibet [1] - The Ministry of Industry and Information Technology (MIIT) plans to accelerate the development of biomanufacturing and low-altitude industries, while promoting innovation in future industries such as humanoid robots and brain-computer interfaces [2][3] - The MIIT and the National Development and Reform Commission (NDRC) are set to issue work plans to stabilize growth in key industries including steel, non-ferrous metals, petrochemicals, and building materials [2][3] Group 2 - The U.S. Department of Commerce has imposed a preliminary anti-dumping duty of 93.5% on Chinese imported anode-grade graphite, citing unfair subsidies [5] - The State Administration for Market Regulation has urged major platform companies like Ele.me, Meituan, and JD.com to standardize promotional activities and foster a healthy competitive environment in the food service industry [6] - A meeting was held to discuss the regulation of the new energy vehicle industry, focusing on enhancing supervision and monitoring product prices and quality [8] Group 3 - The China Iron and Steel Association has proposed a new mechanism for capacity governance to prevent overcapacity risks in the steel industry and to eliminate irrational competition [10] - Yu Shu Technology has initiated its listing guidance, with its controlling shareholder holding approximately 34.76% of the company's shares [11] - Multiple provinces are planning to establish companies to develop local cultural creative Moutai liquor, with participation from distributors based on their allocation of Moutai products [12] Group 4 - As of July 18, 1551 A-share listed companies have released performance forecasts for the first half of 2025, with 26 companies expecting a net profit increase of over 1000% year-on-year [14] - Longhua Automobile reported a net profit of 6.337 billion yuan for the first half of the year, reflecting a year-on-year decline of 10.22% [19] - The major shareholder of Hongbaoli plans to reduce its stake by up to 2% [20]

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]

Core Viewpoint - The company has decided to extend the duration of its second employee stock ownership plan by 6 months, now set to expire on January 21, 2026, due to the confidence in the company's future development and value recognition [1][3]. Summary of Relevant Sections Employee Stock Ownership Plan Overview - The second employee stock ownership plan was approved on June 29, 2021, with a total of 9,446,693 shares held, representing 1.03% of the company's total share capital at that time [2]. - The plan included the company repurchasing 8,522,393 shares, which were then gifted to the plan at a zero price [2]. - As of the announcement date, the remaining shares in the plan amounted to 8,512,093, accounting for 0.91% of the current total share capital [2]. Extension of the Employee Stock Ownership Plan - The extension was approved by a two-thirds majority of the plan holders during a meeting, allowing the plan's duration to be extended to January 21, 2026 [3]. - Other terms of the employee stock ownership plan remain unchanged following the extension [3].