9月30日，恺英网络涨0.61%，成交额8.68亿元。两融数据显示，当日恺英网络获融资买入额8370.45万 元，融资偿还6905.61万元，融资净买入1464.85万元。截至9月30日，恺英网络融资融券余额合计6.87亿 元。 责任编辑：小浪快报 资料显示，恺英网络股份有限公司位于上海市浦东新区耀华路899号世博耀华商务中心A座15层，成立 日期2000年1月3日，上市日期2010年12月7日，公司主营业务涉及1)游戏业务:手游与页游等精品娱乐内 容的研发、运营及发行;(2)平台业务:网页游戏平台、移动应用分发平台的运营。主营业务收入构成为： 移动游戏73.03%，信息服务25.47%，网页游戏1.50%，其他业务0.00%。 截至9月19日，恺英网络股东户数5.90万，较上期增加9.55%；人均流通股32024股，较上期减少8.71%。 2025年1月-6月，恺英网络实现营业收入25.78亿元，同比增长0.89%；归母净利润9.50亿元，同比增长 17.41%。 分红方面，恺英网络A股上市后累计派现12.12亿元。近三年，累计派现8.52亿元。 机构持仓方面，截止2025年6月30日，恺英网络十大流通股东 ...

Core Insights - Chinese gaming stocks have experienced a significant increase, with major companies like Tencent, NetEase, and Century Huatong seeing stock price growth of 64%, 72%, and 303% respectively since the beginning of the year [1] - The overall market sentiment towards gaming stocks has improved, driven by favorable policies and a recovering economic environment [5][10] Industry Growth Factors - The gaming industry's profitability has improved due to supportive government policies, such as multiple initiatives in Shanghai and Shenzhen aimed at boosting the gaming sector [5] - The approval process for game licenses has become more stable, allowing companies to plan product development and release schedules more effectively [5] - Public perception of the gaming industry has shifted positively, recognizing its contributions to technology, education, and cultural confidence, exemplified by the success of the game "Black Myth: Wukong" [7] Financial Performance - The first half of 2025 has been described as the best financial reporting season for the industry in years, with over 80% of companies reporting profits and top companies achieving record revenue and profit levels [8][10] - Century Huatong's market capitalization has tripled, surpassing 150 billion [8] Market Outlook - Investors are optimistic about the future growth potential of the gaming industry, particularly in global markets, which is seen as a key driver for stock price increases [13][19] - The gaming sector is exploring new markets and technologies, with significant growth opportunities identified in shooting games, mini-games, and single-player games [17][18] Global Expansion - Chinese gaming companies are increasingly focusing on global markets, with many launching products simultaneously worldwide rather than treating overseas markets as secondary [20] - Companies like Century Huatong have successfully penetrated international markets, contributing to their stock price increases [21] - Collaborations between Chinese and global firms are becoming more common, enhancing the global presence of Chinese gaming companies [23][28] Technological Advancements - Major companies are investing in AI and other technologies to improve game development processes, which is expected to yield significant results [30][32] - The market for gaming-related merchandise is also growing, with projections indicating substantial revenue potential in the coming years [34][35]

证券日报网讯恺英网络（002517）9月30日在互动平台回答投资者提问时表示，截至2025年9月19日公司 股东总户数58988户。 ...

Market Overview - The gaming sector experienced a decline of 0.23% on September 30, with G-bits leading the drop [1] - The Shanghai Composite Index closed at 3882.78, up 0.52%, while the Shenzhen Component Index closed at 13526.51, up 0.35% [1] Individual Stock Performance - Kunlun Wanwei (300418) saw a significant increase of 7.40%, closing at 48.59 with a trading volume of 1.2963 million shares and a transaction value of 6.222 billion [1] - ST Dazheng (600892) increased by 5.03%, closing at 4.18 with a trading volume of 168,400 shares [1] - G-bits (603444) led the decline with a drop of 3.43%, closing at 568.00 with a trading volume of 24,900 shares and a transaction value of 1.403 billion [2] Capital Flow Analysis - The gaming sector experienced a net outflow of 252 million from institutional investors, while retail investors saw a net inflow of 294 million [2] - Major stocks like Kunlun Wanwei and Starry Entertainment had varying net inflows and outflows from different investor types, indicating mixed investor sentiment [3] Notable Stock Movements - Starry Entertainment (300043) had a net inflow of 27.34 million from institutional investors but a net outflow of 49.14 million from retail investors [3] - The overall capital flow indicates a cautious approach from institutional investors while retail investors showed more activity in certain stocks [3]

恺英网络（002517.SZ）9月30日在投资者互动平台表示，公司长期持续关注和研究新玩法、新科技、新 趋势的发展，内部已有项目组对短剧和互动影游进行探索布局，目前公司岁时令IP的子IP《上元欢》短 剧已上线，《岁时令》同名短剧项目也已全面启动。 每经AI快讯，有投资者在投资者互动平台提问：董秘你好，公司有短剧游戏相关业务吗？ （记者 曾健辉） ...

智通财经APP获悉，万联证券发布研报称，9月游戏版号发放量维持高位，结构覆盖多类型产品，其中 米哈游崩坏IP系列《崩坏：因缘精灵》获批，主打大世界精灵搜集。从市场趋势来看，各大厂商纷纷布 局精灵养成赛道，腾讯《洛克王国：世界》、蛮啾《蓝色星原：旅谣》、杭州爪印《伊莫》等均备受关 注，未来竞争较为激烈。整体来看，9月游戏供给端延续释放，版号常态化趋势稳固，行业修复节奏持 续推进。建议关注具备产品储备、研发能力及题材多样化布局能力的头部厂商。 万联证券主要观点如下： 9月游戏版号发放量维持高位，涵盖多类型产品与知名厂商 从市场趋势来看，各大厂商纷纷布局精灵养成赛道，腾讯《洛克王国：世界》、蛮啾《蓝色星原：旅 谣》、杭州爪印《伊莫》等均备受关注，未来竞争较为激烈，《崩坏：因缘精灵》有望通过其独特的生 态设计，大世界、自走棋等玩法融合占有一席之地。 风险因素 政策监管风险、版号核发节奏不及预期、新游延期上线及表现不及预期、新游流水不及预期、出海业务 风险加剧、商誉减值风险。 年初至今国产游戏合计通过审批1195款，9月份游戏版号发放量维持高位，通过审批145款，包括腾讯 (00700)《归环》、米哈游《崩坏：因缘精灵 ...

9月30日，恺英网络盘中上涨2.11%，截至13:28，报28.50元/股，成交5.78亿元，换手率1.09%，总市值 608.89亿元。 资金流向方面，主力资金净流入1001.51万元，特大单买入4584.66万元，占比7.94%，卖出2823.64万 元，占比4.89%；大单买入1.37亿元，占比23.68%，卖出1.44亿元，占比24.99%。 责任编辑：小浪快报 恺英网络所属申万行业为：传媒-游戏Ⅱ-游戏Ⅲ。所属概念板块包括：云游戏、腾讯概念、网络游戏、 手游、电子竞技等。 截至9月10日，恺英网络股东户数5.38万，较上期减少13.28%；人均流通股35081股，较上期增加 15.31%。2025年1月-6月，恺英网络实现营业收入25.78亿元，同比增长0.89%；归母净利润9.50亿元，同 比增长17.41%。 分红方面，恺英网络A股上市后累计派现12.12亿元。近三年，累计派现8.52亿元。 机构持仓方面，截止2025年6月30日，恺英网络十大流通股东中，香港中央结算有限公司位居第二大流 通股东，持股1.10亿股，相比上期增加426.20万股。华夏中证动漫游戏ETF（159869）位居第五大流通 ...

Investment Rating - The report maintains a "Positive" investment rating for the gaming industry [7]. Core Insights - The issuance of game licenses in September, with approvals for companies like Kaiying, Giant Network, and Point Point, indicates a positive trend in the new game cycle and overall industry prosperity. The performance of several new games, such as Giant Network's "Supernatural Action Group" and G-bits' "Staff Sword Legend," is expected to drive the product cycle and industry sentiment upward. The combination of new game cycles, favorable policies, and AI catalysis suggests that the gaming sector still has upward valuation potential, warranting continued attention to investment opportunities in this area [2][4][6]. Summary by Sections Game License Issuance - In September, a total of 156 game licenses were issued, including 145 domestic and 11 imported games. This brings the total number of domestic game licenses issued this year to 1,195, nearing the annual total of 1,306 from 2024 [6][9]. Market Performance - The gaming market in China showed a month-on-month growth, with August revenues reaching 29.263 billion yuan, a 0.61% increase from the previous month. The mobile gaming market accounted for 21.541 billion yuan, reflecting a 0.85% month-on-month growth [9]. New Game Launches - Several new games are set to launch or have recently launched, including Kaiying's "The Legend of the Adventure" and Heartbeat's "Yise," which quickly topped the iOS and TapTap charts. The report highlights a rich pipeline of upcoming games from major developers, indicating potential for revenue growth [6][9].

Investment Rating - The report maintains an "Outperform" rating for the media sector [1] Core Viewpoints - The media sector has shown significant performance with favorable policies and AI-driven growth, particularly in the gaming segment [1][4] - The gaming sector is experiencing robust growth, with a year-on-year revenue increase of nearly 24% and net profit growth of approximately 75% [4][13] - The report highlights a divergence in performance among sub-sectors, with gaming showing strong growth while publishing and film sectors face challenges [4][12] Summary by Sections Investment Recommendations - The media sector's H1 2025 report indicates record-high revenue and significant profit growth, with a positive outlook on gaming, publishing, and IP derivative products [4][12] - The gaming sector benefits from favorable policies and AI advancements, leading to improved valuations and sustained performance [4][13] Market Review - From August 18 to September 26, 2025, the media sector rose by 11.76%, underperforming the ChiNext index by 12.60 percentage points but outperforming the CSI 300 and Shanghai Composite indices [3][16] - Among sub-sectors, the gaming sector increased by 28.36%, while the publishing sector declined by 2.19% [3][16] Industry News - Recent government policies, such as the "Artificial Intelligence +" initiative, are expected to enhance the media sector's growth prospects [25] - The gaming industry saw the approval of 145 domestic game licenses in September 2025, indicating a healthy regulatory environment [50] Monthly Data - In August 2025, the domestic film market generated a box office of 5.991 billion yuan, a year-on-year increase of 48.59% [26][27] - The gaming market's actual sales revenue in August 2025 was 29.263 billion yuan, with a year-on-year decline of 13.01% [44]

Group 1 - The core viewpoint of the article highlights that the approval volume of game licenses in September remains high, covering various types of products and well-known manufacturers [1] - From the beginning of the year to date, a total of 1,195 domestic games have been approved, with 145 games approved in September, including titles from Tencent, miHoYo, NetEase, and others [1] - For imported games, a total of 80 games have been approved this year, with 11 games approved in September, including titles from Chuangmeng Tiandi and Xinghui Games [1] Group 2 - The game ETF (516010) tracks the animation and gaming index (930901), which selects listed companies involved in animation production, game development, platform operation, and related industry chains to reflect the overall performance of the sector [1] - The index focuses on innovation and growth in the animation and gaming field, covering the entire industry chain from content creation to distribution channels, showcasing distinct industry representation and market vitality [1]