Core Viewpoint - The article highlights the participation of Youzu Network in a charitable donation event called the "Pomegranate Seed Plan," aimed at supporting education in ethnic minority regions of Inner Mongolia through donations of educational resources and equipment [1][2]. Group 1: Event Overview - On June 26, Youzu Network collaborated with 45 digital publishing companies to participate in the "Pomegranate Seed Plan" charity donation event in Erguna City, Inner Mongolia [1]. - The event was guided by the China Audio-Video and Digital Publishing Association and supported by various committees and the Beijing Yuze Public Welfare Foundation [1]. Group 2: Donation Details - During the donation ceremony, representatives from the association and Youzu Network donated educational materials worth 1.11 million yuan, including books, teaching equipment, and furniture to local schools [2]. - The targeted schools for the donations were Sanhe Primary School, Suqin School, and Moroda First Primary School in Erguna City [1]. Group 3: Company Commitment to Social Responsibility - Youzu Network has been actively involved in public welfare since 2015, with initiatives spanning various regions including Tibet, Gannan, and Xinjiang, demonstrating a strong sense of social responsibility [5]. - The company aims to leverage its strengths in technology and the internet to contribute to youth education and community welfare, as evidenced by its recent donation of 5,000 science books and the establishment of a reading room in Yunnan [5][6].

| | | 游族网络股份有限公司 2025 年第二季度可转换公司债券转股情况的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 特别提示： 转股时间：2020 年 3 月 27 日至 2025 年 9 月 23 日 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 15 号——可转换公司债券》的有关规定，游族网络股份有限公司（以下 简称"公司"）现将 2025 年第二季度可转换公司债券（以下简称"可转债"） 转股及公司股份变动的情况公告如下： 一、可转债上市发行基本情况 经深交所"深证上〔2019〕640 号"文同意，公司 1,150,000,000.00 元可转 债于 2019 年 10 月 21 日起在深交所挂牌交易，债券英文简称"YooZoo-CB"，债 券简称"游族转债"，债券代码"128074"。 （三）可转债转股情况 根据相关规定和《游族网络股份有限公司公开发行可转换公司债券募集说明 书》规定，公司本次发行的可转债自 2020 年 3 月 27 日起可转换为公司股份，初 始转股价格为 17.06 元/股。 （四）可转债 ...

Group 1 - The A-share gaming sector showed strong performance at the beginning of trading, with Glacier Network rising over 10% and Zhangqu Technology increasing over 5% [1] - Other companies such as Dihun Network, Fuchun Co., Giant Network, Xinghui Entertainment, Shengtian Network, Xunyou Technology, and Youzu Network also experienced gains [1] - According to Gamma Data's recent report, the Chinese gaming market size reached 28.051 billion yuan in May 2025, representing a year-on-year growth of 9.86% and a month-on-month increase of 2.56% [1]

Group 1 - The core viewpoint of the announcement is that the company maintains its credit rating and outlook for its convertible bonds and overall creditworthiness [1][2] - The company’s credit rating is confirmed at AA- with a stable outlook, consistent with the previous rating [2] - The tracking rating report was issued by China Chengxin International Credit Rating Co., Ltd. on June 23, 2025, following a comprehensive analysis of the company's operational status and industry development [2] Group 2 - The previous tracking rating was conducted on June 20, 2024, with the same credit rating of AA- for both the company and its convertible bonds [2] - The tracking rating report is available for public viewing on the official website of the company [2]

Core Viewpoint - The China Securities Animation and Game Index has shown a recent upward trend, indicating a positive performance in the animation and gaming sector despite some fluctuations over the past months [2]. Group 1: Index Performance - The China Securities Animation and Game Index increased by 0.37% to 1741.71 points with a trading volume of 12.752 billion yuan [1]. - Over the past month, the index has risen by 6.34%, while it has decreased by 2.44% over the last three months. Year-to-date, the index has increased by 16.76% [2]. Group 2: Index Composition - The index comprises companies primarily engaged in animation, comics, and gaming, reflecting the overall performance of the listed companies in the animation and gaming industry [2]. - The top ten weighted companies in the index include: Giant Network (10.64%), Kaiying Network (10.51%), Light Media (10.3%), 37 Interactive Entertainment (9.45%), Shenzhou Taiyue (7.73%), Perfect World (7.39%), ZQ Technology (5.59%), G-bits (4.42%), Youzu Interactive (4.03%), and Zhejiang Shuju Culture (3.55%) [2]. Group 3: Industry Breakdown - The index's holdings are predominantly in the communication services sector, accounting for 91.74%, followed by information technology at 4.49% and consumer discretionary at 3.77% [2]. Group 4: Index Adjustment and Fund Tracking - The index samples are adjusted biannually, with adjustments occurring on the next trading day after the second Friday of June and December [3]. - Public funds tracking the animation and gaming index include various ETFs from Guotai, Huaxia, and Haitai Baipin [3].

游族网络股份有限公司 公开发行可转换公司债券 2025 年度跟踪评级报告 编号：信评委函字[2025]跟踪 0886 号 游族网络股份有限公司公开发行可转换公司债券 2025 年度跟踪评级报告 声 明 中诚信国际信用评级有限责任公司 2025 年 6 月 23 日 2 本次评级为委托评级，中诚信国际及其评估人员与评级委托方、评级对象不存在任何其他影响本次评级行为独立、 客观、公正的关联关系。 本次评级依据评级对象提供或已经正式对外公布的信息，以及其他根据监管规定收集的信息，中诚信国际按照相关 性、及时性、可靠性的原则对评级信息进行审慎分析，但中诚信国际对于相关信息的合法性、真实性、完整性、准 确性不作任何保证。 中诚信国际及项目人员履行了尽职调查和诚信义务，有充分理由保证本次评级遵循了真实、客观、公正的原则。 评级报告的评级结论是中诚信国际依据合理的内部信用评级标准和方法、评级程序做出的独立判断，未受评级委托 方、评级对象和其他第三方的干预和影响。 本评级报告对评级对象信用状况的任何表述和判断仅作为相关决策参考之用，并不意味着中诚信国际实质性建议任 何使用人据此报告采取投资、借贷等交易行为，也不能作为任何人购 ...

| 证券代码：002174 | 证券简称：游族网络 | 公告编号：2025-036 | | --- | --- | --- | | 债券代码：128074 | 债券简称：游族转债 | | 游族网络股份有限公司 关于可转换公司债券 2025 年跟踪评级结果的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 根据中国证券监督管理委员会及深圳证券交易所相关法律法规的规定，游族 网络股份有限公司（以下简称"公司"）委托信用评级机构中诚信国际信用评级 有限责任公司（以下简称"中诚信国际"）对公司公开发行的可转换公司债券（以 下简称"游族转债"）进行跟踪评级。 公司前次跟踪评级结果为：公司主体信用等级为 AA-，评级展望为稳定；"游 族转债"的信用等级为 AA-，评级时间为 2024 年 6 月 20 日。 近日，中诚信国际在对公司经营状况、行业发展情况等进行综合分析与评估 的基础上，于 2025 年 6 月 23 日出具了《游族网络股份有限公司公开发行可转换 公司债券 2025 年度跟踪评级报告》，本次跟踪评级结果为：维持游族网络股份 有限公司主体信用等级为 AA- ...

Group 1: Game Releases and Updates - The game "捞女游戏" has been renamed to "情感反诈模拟器" after facing controversy for stigmatizing women, despite achieving 96% positive reviews and topping the Steam sales chart [1] - Tencent's "最终幻想14：水晶世界" launched on June 19, featuring five races and nine job classes, along with various in-game benefits for players [3] - NetEase's "灵兽大冒险" began its paid test on June 19, focusing on pet-catching and home-building mechanics [5] - NetEase's first AAA single-player game "归唐" was announced, developed over four years and based on historical events from the late Tang dynasty [6] - "龙骑士学园," an MMORPG, was officially launched on June 19, allowing players to engage in dragon-riding adventures [8] - "解限机," a mech-themed action shooting game by 西山居, will enter global open beta on July 2, with over 520,000 pre-registrations [9] Group 2: Industry News and Events - Tencent's WeGame 3.0 version was released during the 2025 WeGame Game Night, enhancing user experience and optimizing performance [13] - Youzu Network celebrated its 16th anniversary with various game promotions and announced new titles, including "少年三国志3" [15] - Beijing's government introduced 11 measures to support the gaming and esports industry, offering rewards up to 30 million yuan for qualifying projects [18] - RNG and its owner, 姚金成, are facing enforcement actions exceeding 160 million yuan, indicating financial challenges within the company [19]

Group 1: Global Esports Industry Development - The "2024 Global Esports Industry Development Report" indicates that Shanghai has become the most influential esports city globally in 2024, with China occupying four of the top ten cities in terms of esports influence [1] - Chinese users show a leading recognition and acceptance of the esports Olympics, which lays a foundation for the commercialization of potential international event IPs [1] - The report highlights a significant increase in female users in the esports sector, with the proportion of female viewers at offline events rising from 36% in 2020 to 71.8% in 2024 [1] Group 2: Game Development and Product Launches - Youzu Interactive has announced the upcoming "group hero test" for its major product "Youth Three Kingdoms 3" in early July, showcasing a rich product pipeline [2] - The launch of "Youth Three Kingdoms 3" reflects the company's innovative approach in game design, combining traditional aesthetics with new gameplay mechanics [2] - Tencent's "Star Resonance" is set for a non-deletion launch in July, enhancing the WeGame platform's content offerings and potentially increasing user engagement [3] Group 3: Market Dynamics and Future Outlook - The growth of female audiences in esports signals a diversification in user demographics, benefiting companies with offline operational capabilities [1] - The performance of new game tests will influence market perceptions of Youzu's development capabilities and the overall growth potential of the gaming sector [2] - The introduction of differentiated gameplay in new titles may lead to a reshaping of the value distribution within the gaming industry [3]

Core Viewpoint - The gaming industry is experiencing a resurgence, driven by favorable policy changes and emerging growth opportunities, despite previous regulatory challenges and market saturation [2][10][13]. Group 1: Market Performance - The gaming index has risen significantly, increasing nearly 2000 points (over 30%) since April [2]. - Several gaming companies have seen substantial stock price increases, with Youzu Network up over 60%, Perfect World up over 50%, and Gigabit up over 40% [2]. - The overall gaming market in China is projected to reach a record revenue of 455.06 billion yuan in 2024, with a compound annual growth rate of 26.8% over the past two decades [14]. Group 2: Regulatory Environment - Recent policy changes, including the introduction of new undergraduate programs like "Game Art Design," indicate a shift in societal perception of gaming [6][8]. - Shenzhen has implemented supportive measures for gaming companies, including one-time rewards of up to 10 million yuan and efficient game license application processes [9][10]. - The gaming industry has seen a significant reduction in company closures compared to previous years, suggesting a more favorable regulatory environment [11][13]. Group 3: Emerging Growth Areas - Mini-games have emerged as a new growth engine, contributing significantly to market revenue, with their market share increasing from less than 1% in 2021 to over 10% in 2024 [21]. - The demand for high-quality gaming hardware is rising, with 78.51% of users considering upgrading their devices due to performance needs [27]. - The IP economy is becoming increasingly important, with successful franchises like "Genshin Impact" generating over $5 billion in revenue in 2024, highlighting the potential for sustained profitability through IP management [38][42]. Group 4: Future Outlook - The gaming industry is expected to see a positive trend with over 30 new games scheduled for release during the summer, indicating a robust pipeline of new content [44]. - Companies with strong IP management capabilities and those focusing on niche markets, such as otome games and party games, may stand out in the evolving landscape [45].