中国经济网北京3月20日讯 恺英网络(002517.SZ)股价截至今日收盘报16.56元，跌幅2.82%。 2月18日，恺英网络盘中股价达到年内最高点17.30元。 甬兴证券有限公司研究员应豪、黄伯乐于2月19日发布研报《恺英网络(002517)：游戏行业领先企业 精 品化策略推动稳健增长》称，给予恺英网络"买入"评级。 ...

Investment Rating - The report maintains a positive outlook on overseas Chinese assets and the media sector, focusing on cyclical, undervalued, and fundamentally supported targets [1][2]. Core Insights - Recent policies aimed at boosting consumption have been frequent, with a focus on cyclical sectors and undervalued assets with strong fundamentals. The government has prioritized expanding domestic demand as a key task for the year [1][2][15]. - The report highlights the resilience of leading internet platforms and the potential for a revaluation of Chinese assets, despite possible short-term volatility following rapid price increases [2][6]. - The report suggests specific stocks to watch, including Tencent Holdings, Pinduoduo, and Wanda Film, among others, emphasizing the importance of fundamental support and low valuations [2][6]. Summary by Sections Recent Developments - The government has launched initiatives to stimulate consumption, including a special action plan to enhance consumer spending and financial support for families [15]. - The media sector has seen a 2.21% increase in the week of March 10-14, driven by cyclical segments such as cinema and advertising [2][6]. Industry Policies and News - The report notes significant policy updates aimed at enhancing consumer finance and overall market conditions, which are expected to positively impact the media sector [15]. - Recent financing events in the gaming sector indicate ongoing investment interest, with notable funding rounds for startups [17][18]. Weekly Data Tracking - The total box office revenue from March 8-14 was 510 million yuan, reflecting a 28.9% decrease from the previous week, attributed to seasonal market trends [19][20]. - The report tracks the performance of television dramas and variety shows, noting shifts in viewership and market share among leading platforms [26][29]. Company Valuation Updates - The report indicates that the A-share media sector has seen price increases across various segments, with Wanda Film showing the highest growth at 10.70% during the tracking period [33].

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report highlights the continuous advancements in AI and gaming sectors, with major companies like Alibaba and Tencent increasing their investments in AI applications and gaming [5][6] - The launch of the AI Agent product Manus by the startup Monica is seen as a significant development, potentially marking the beginning of a new era for general AI agents [5] - The report suggests a comprehensive investment strategy in AI, recommending key companies such as Tencent Holdings and Kuaishou-W, with beneficiaries including Alibaba-W and Kunlun Wanwei [5] Summary by Sections Industry Data Overview - The game "Eternal Night" ranked first on the iOS free chart in mainland China, while "Honor of Kings" maintained its position as the top-grossing game [11] - The film "Nezha: The Devil's Child" achieved the highest box office for the week, grossing 3.16 billion CNY, with a cumulative box office of 146.03 billion CNY [28] Industry News Overview - Major companies like Tencent and Alibaba are releasing new products, with "Enola Holmes" being a significant winner at the Oscars [37] - Tencent's mixed yuan has released and open-sourced a video generation model, enhancing capabilities for creating high-quality videos and animations [37] Market Performance - The A-share media sector outperformed the broader market in the 10th week of 2025, with the gaming sector showing strong performance [10] - The report indicates that the gaming sector has achieved the highest excess returns compared to the media index [10] Company Recommendations - For general AI and large models, the report recommends Tencent Holdings and Kuaishou-W, with beneficiaries including Alibaba-W and Kunlun Wanwei [5] - In vertical AI applications, key recommendations include ShengTian Network and AoFei Entertainment for AI virtual companionship, and Shanghai Film and Mango Super Media for AI in film [5]

Investment Rating - The report maintains a "Recommended" investment rating for the media industry [2][3]. Core Insights - The introduction of the AI Agent product Manus marks a significant advancement in human-machine collaboration, showcasing its ability to autonomously deliver results across various tasks [3]. - Manus has demonstrated superior performance in GAIA benchmark tests, outperforming similar products from OpenAI, particularly in complex problem-solving and tool utilization [3]. - The report emphasizes the growing demand for reasoning computing power as AI applications penetrate various sectors, presenting new opportunities for the related industry chain [3]. Summary by Sections Industry Overview - The report discusses the launch of Manus, a universal AI agent capable of connecting thought and action, which can perform tasks such as travel planning, stock analysis, and resume screening [3]. - Manus's innovative architecture and task handling capabilities are highlighted, with specific examples of its functionality provided [3]. Investment Recommendations - The report suggests focusing on companies that integrate AI into various sectors, including gaming (Kying Network, Giant Network), education (Century Tianhong, Southern Media), marketing (Easy Point Tianxia), advertising (Gravity Media, Focus Media), and large models (Tencent Holdings) [3]. - The report indicates that the acceleration of AI applications is expected to drive the development of edge AI applications and expand the scope of AI usage [3]. Key Companies and Earnings Forecast - The report includes a table of key companies with their stock prices and earnings per share (EPS) forecasts for 2023 to 2026, highlighting companies such as Century Tianhong, Tencent Holdings, Kying Network, and Southern Media [4]. - Notable EPS projections include Kying Network with an EPS of 1.13 in 2025 and Southern Media with an EPS of 1.14 in the same year [4].

Group 1 - The core point of the article is that Kaiying Network has signed a cooperation agreement to establish an AI model application and game engine company in Linping New Town, Hangzhou [1] - The new company will serve as the project headquarters, financing, and tax entity for the previously established "Jiyi Company" with the investment from Bigao Group [1] - The Linping District of Hangzhou will provide multi-dimensional support for the development of Jiyi, including computing power supply, technical support, policy guarantees, and subsequent investments [1]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [4] Core Views - The company is a leading player in the domestic gaming industry, focusing on high-quality game development and operations, which has led to steady growth since 2021. In Q3 2024, the company achieved revenue of 3.928 billion yuan and a net profit of 1.280 billion yuan, with year-on-year growth rates of 29.65% and 18.27%, respectively [1][27] Summary by Sections Company Overview - The company is a well-known internet gaming listed company in China, primarily engaged in the development, production, and operation of high-quality online games. It has a long-term layout in virtual reality and the metaverse, actively exploring global distribution to reach a wider audience [16] Business Strategy - The company focuses on three main business areas: game development, publishing, and investment + IP, enhancing its competitive edge and reinforcing its core business [18] - The company has a diverse product matrix, including retro-themed games and innovative premium games, supported by strong R&D capabilities and operational experience [18][19] Market Potential - The Chinese mobile gaming market is expected to grow steadily, with projected market sizes of 344.2 billion yuan, 359 billion yuan, and 372.3 billion yuan from 2024 to 2026, with year-on-year growth rates of 5.10%, 4.30%, and 3.70%, respectively [50] - The overseas market for self-developed games is also growing, with actual sales revenue reaching 18.557 billion USD in 2024, a year-on-year increase of 13.39% [56] Financial Performance - The company has experienced significant revenue growth since 2021, with revenues of 2.375 billion yuan, 3.726 billion yuan, and 4.295 billion yuan from 2021 to 2023, and a net profit of 577 million yuan, 1.025 billion yuan, and 1.462 billion yuan during the same period [27] - The mobile gaming segment constitutes the majority of the company's revenue, accounting for 81.99% in the first half of 2024 [30] Future Outlook - The company has a robust pipeline of quality game titles, with several products already approved for release, laying a solid foundation for future growth [2] - The management has committed to not selling shares for the next five years and will continue to increase their holdings, demonstrating confidence in the company's future [3]

证券代码：002517 证券简称：恺英网络 公告编号：2025-017 恺英网络股份有限公司 关于回购股份注销完成暨股份变动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有 虚假记载、误导性陈述或重大遗漏。 重要内容提示： 1、恺英网络股份有限公司（以下简称"公司"）本次注销的回购股份数量 为 16,074,400 股，占注销前公司总股本的 0.75%。本次注销完成后，公司总股 本由注销前的 2,152,517,634 股变更为 2,136,443,234 股； 2、经中国证券登记结算有限责任公司深圳分公司审核确认，公司本次回购 股份注销事宜已于 2025 年 2 月 19 日办理完成。 根据《中华人民共和国公司法》《深圳证券交易所上市公司自律监管指引第 9 号——回购股份》等相关法律法规规定，现就公司本次回购股份注销完成暨股 份变动的具体情况公告如下： 一、回购股份的审批程序及实施情况 1、公司于 2023 年 8 月 30 日召开了第五届董事会第四次会议，审议通过了 《关于回购公司股份方案的议案》，公司将以集中竞价交易方式回购公司股份， 用于回购股份的资金总额不超过（含）人民币 20 ...

香 港 交易 及 結 算 所 有限 公 司 及 香港 聯 合 交 易 所有 限 公 司 對 本公 告 的 內 容概 不 負 責， 對 其 準 確 性或 完 整 性 亦不 發 表 任 何 聲明 ， 並 明 確 表示 ， 概 不 對因 本 公 告全 部 或 任 何 部分 內 容 而 產生 或 因 倚 賴 該等 內 容 而 引 致的 任 何 損 失承 擔任何責任。 BINGO GROUP HOLDINGS LIMITED 比 高 集 團 控 股 有 限 公 司 （ 於開曼群島註冊成立之有限公司） （股份代號：8220） 自願公告 有關可能成立合營企業 之諒解備忘錄 本公告由比高集團控股有限公司（「本公司」，與其附屬公司統稱「本集團」） 自願作 出，旨在 讓本公司股 東（「股 東」）及潛 在投資者 了解本集 團業務之最 新情況。 諒解備忘錄 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二五年二月十三日（ 於 交易時段後 ），本公司間接全資附屬公司輝馳（ 上海 ）投資諮詢有限公司與杭 州愷興網路科技有限公司（「愷興網路」或「潛在業務夥伴」）訂立一份不具法 律約束力的諒解備忘錄（「諒解備忘錄」）。 根 據諒 解 ...

证券代码：002517 证券简称：恺英网络 公告编号：2025-016 恺英网络股份有限公司 关于变更回购股份用途并注销暨通知债权人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、公司变更回购股份用途并注销的情况 恺英网络股份有限公司（以下简称"公司"或"本公司"）分别于 2025 年 1 月 10 日、2025 年 2 月 7 日召开第五届董事会第十一次会议和 2025 年第一次临时股东大 会，审议通过了《关于变更回购股份用途并注销的议案》《关于减少注册资本并修 订<公司章程>的议案》，为切实推动公司投资价值提升，响应政策号召，维护广大 投资者利益，增强投资者回报能力和水平，提振投资者信心，结合公司实际发展情 况，同意将回购股份用途由原方案"用于后续员工持股计划、股权激励计划"变更为 "用于注销并减少公司注册资本"，即对公司回购专用证券账户中的 16,074,400 股股 份进行注销并相应减少公司注册资本。 本次注销手续完成后，公司注册资本将由目前工商登记的 2,152,517,634 元减少 为 2,136,443,234 元，股份总数由 2, ...

证券代码：002517 证券简称：恺英网络 公告编号：2025-015 恺英网络股份有限公司 2025 年第一次临时股东大会决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚 假记载、误导性陈述或重大遗漏。 重要提示： ●本次会议召开期间无否决提案的情形。 ●本次股东大会未涉及变更前次股东大会决议的情形。 一、会议召开情况 1、会议通知情况：恺英网络股份有限公司（以下简称"公司"）董事会于 2025 年 1 月 11 日在《中国证券报》、《上海证券报》、《证券时报》、《证券 日报》和巨潮资讯网（www.cninfo.com.cn）发布了《关于召开 2025 年第一次临 时股东大会的通知》（公告编号:2025-009）。 2、会议召开的日期、时间： （1）现场会议时间：2025年2月7日（星期五）14：00 （2）网络投票时间： 通过深圳证券交易所交易系统进行网络投票的具体时间为：2025年2月7日的 交易时间，即9:15—9:25，9:30－11:30，13:00－15:00； 通过深圳证券交易所互联网投票系统投票的具体时间为：2025年2月7日 9:15-15:00。 3、现场会议召 ...