Core Insights - The 2025 World Artificial Intelligence Conference (WAIC 2025) in Shanghai gathered top international experts, including 12 Turing Award and Nobel Prize winners, marking a record attendance [1] - The gaming industry is emerging as a key driver of AI development through the utilization of multimodal real-time data, which is considered a "new productive force" [1][2] - Multimodal real-time data from gaming includes diverse, dynamic, and high-fidelity data streams that are crucial for AI advancements [1] Company Developments - Youzu Interactive has integrated an AI platform that leverages multimodal real-time data to enhance various aspects of game development, including art asset creation and game testing [2] - The company has launched AI tools that improve operational efficiency for global game releases, demonstrating significant benefits in the publishing process [2] - Youzu Interactive has signed a strategic partnership with domestic AI chip developer Sunrise to combine GPU computing solutions with distributed architecture for future game development [2] Industry Trends - The rise of embodied intelligence is pushing AI agents from virtual to real-world applications, necessitating vast amounts of real-world interaction data, which gaming can provide [3] - Youzu Interactive has entered into a strategic collaboration with Great Wall Technology and Shenzhen Confidential Computing to create a secure computing infrastructure for various industries [3][4] - The partnership aims to establish a secure computing technology base that supports cultural, technological, financial, and manufacturing sectors, enhancing data security and cross-border data flow [4]

7月27日，游族网络（002174）、长城科技（603897）、深圳机密计算签署战略合作协议，三方将深度 融合自主可控算力、机密计算技术、全球化产业应用优势，携手构建"国产算力+密态安全+场景创 新"三位一体的自主可控算力安全技术底座，为文化、科技、金融、能源、制造等重点产业领域的安全 算力需求和RWA等创新场景需求提供自主可控跨境算力安全解决方案。战略合作签约仪式现场本次游 族网络、长城科技、深圳机密计算的战略合作将聚焦三大关键领域，共绘发展蓝图。在基础设施共建方 面，三方将率先在深圳、上海共建密态算力示范项目，为游族网络AI大模型训练、RWA资产上链等提 供支撑。同时覆盖重点城市区域建设边缘算力网络，优化算力调度，实现数据就近处理，提升用户使用 边缘算力资源的安全性与时效性，共同打造安全算力基础设施高地。(游族网络公众号) ...

Core Insights - The global competition in artificial intelligence has entered a new phase focused on "data superiority" [1] - Game scenarios contain vast amounts of real-time, highly interactive multimodal data, which are crucial resources for driving AI technology development [1] Company Developments - Youzu Interactive has accumulated extensive experience in game development and publishing over 16 years, leveraging data from one billion global users to enhance AI-enabled game development and publishing [1] - The company has developed an integrated AI tool platform that supports the entire game development and publishing process, featuring functions such as art asset generation, code generation, localization translation, intelligent testing, and content risk control [1] Product Innovations - Youzu Interactive is developing an AI-native game based on the "Three-Body" IP titled "My Three-Body: 2277," which allows players to create game content using built-in AI tools for scene editing, storyline design, and interactive object editing [1] Strategic Collaborations - Youzu Interactive has signed a strategic cooperation agreement with domestic AI chip developer Xiwang to integrate high-performance customized GPU solutions with advanced distributed architecture for future game intelligent development [2] Broader Industry Implications - Game multimodal real-time data is accelerating cross-domain collaborative innovation and has applications beyond the gaming industry, such as providing high-fidelity training materials for embodied intelligence and offering digital overseas expansion experiences for other industries [2] - The gaming industry, represented by Youzu Interactive, has accumulated reusable experience data that can invigorate the innovative inheritance and development of traditional Chinese culture [2]

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]