证券代码：002555 证券简称：三七互娱 公告编号：2025-027 三七互娱网络科技集团股份有限公司 第六届监事会第二十一次会议决议公告 表决结果：同意 3 票、弃权 0 票、反对 0 票。 本公司及监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。 三七互娱网络科技集团股份有限公司（以下简称"公司"）第六届监事会第二十一次会议 通知于 2025 年 5 月 12 日以专人送达、电子邮件、电话方式发出，会议于 2025 年 5 月 12 日在公司会议室以现场与通讯结合的方式召开，本次会议应出席监事 3 人，实际出席监事 3 人，会议由监事会主席何洋先生主持。本次会议的召集、召开和表决程序及出席会议的监事 人数符合法律、法规和公司章程等有关规定，经与会监事审议表决，形成如下决议： 一、审议通过《关于豁免第六届监事会第二十一次会议通知期限的议案》 监事会同意豁免公司第六届监事会第二十一次会议的通知期限，并于 2025 年 5 月 12 日召开第六届监事会第二十一次会议。 二、审议通过《2025 年第一季度利润分配预案》 经审核，监事会认为：董事会拟定的 2025 年第一季 ...

证券代码：002555 证券简称：三七互娱 公告编号：2025-026 三七互娱网络科技集团股份有限公司 第六届董事会第二十五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 三七互娱网络科技集团股份有限公司（下称"公司"或"本公司"）第六届董事会第二 十五次会议通知于 2025 年 5 月 12 日以专人送达、电子邮件、电话方式发出，会议于 2025 年 5 月 12 日在公司会议室以现场与通讯结合的方式召开。本次会议应到董事 9 位，实到董 事 9 位。会议由董事长李卫伟主持。会议的召集和召开符合法律、法规及《三七互娱网络科 技集团股份有限公司章程》（下称"《公司章程》"）的有关规定。本次会议作出了如下决 议： 一、审议通过《关于豁免第六届董事会第二十五次会议通知期限的议案》 表决结果：同意 9 票、弃权 0 票、反对 0 票。 二、审议通过《2025 年第一季度利润分配预案》 根据公司 2025 年第一季度报告，公司 2025 年第一季度实现归属于母公司所有者的净利 润为 549,180,610.69 元，截至 2025 年 3 月 31 ...

三七互娱网络科技集团股份有限公司 关于 2025 年第一季度利润分配预案的公告 证券代码：002555 证券简称：三七互娱 公告编号：2025-028 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。 一、审议程序 三七互娱网络科技集团股份有限公司（下称"公司"或"本公司"）于 2025 年 5 月 12 日召开第六届董事会第二十五次会议和第六届监事会第二十一次会议，审议通过了《2025 年第一季度利润分配预案》。该议案无需提交公司股东大会审议。现将有关情况公告如下： 二、2025 年第一季度利润分配预案情况 根据公司 2025 年第一季度报告，公司 2025 年第一季度实现归属于母公司所有者的净利 润为 549,180,610.69 元，截至 2025 年 3 月 31 日公司未分配利润为 8,427,549,692.03 元，母 公司未分配利润为 3,749,796,944.80 元。 为推动上市公司高质量发展，结合公司发展的实际情况，按照《国务院关于加强监管防 范风险推动资本市场高质量发展的若干意见》文件精神和相关要求，积极落实分红实施，加 大投资者回报力 ...

游戏葡萄 . 以下文章来源于游戏葡萄 ，作者游戏葡萄君 有前瞻、有判断。投稿与合作：hi@youxiputao.com 来源丨游戏葡萄（ID：youxiputao） 作者丨秋秋 图源丨Midjourney 在你看来，一家游戏公司多久会破产？ 比尔盖茨曾提出过微软破产论，将公司的死亡倒计时定在18个月；国内累计分红过60亿的吉比特，曾将 公司现金储备的标准定在18个月、36个月；在心动连年亏损时期，也有证券厂商分析，心动账上的30亿 现金，足以支持公司在无收入的情况下度过三年。 但葡萄君扒完2024年财报发现：80%的上市游戏公司离「破产」不足9个月，个别甚至撑不过30天。 ——这项名为「安全月数」的指标，衡量的是公司断粮后，仅靠货币资金续命的时间。 虽然这项指标有些极端，比如计算方式有些粗略、厂商很难陷入无收入状态、借款/投融资/资产变现等续 命手段也有很多……但它也能突破一些行业粉饰，相对真实地展现不同公司的生存状况、抗风险能力 （文末附65家上市公司营收利润及安全月数情况总表）。 注：安全月数计算公式：A股安全月数=去年年末货币资金/去年月均经营活动现金流出小计；港美股安全 月数=去年年末现金及等价物/去 ...

Core Insights - The consensus in the gaming industry is that "going global" is essential for survival, with 33 Chinese companies entering the global mobile game publisher revenue top 100 in April, generating a total of $2 billion, accounting for 38.4% of the top 100's revenue [1][3] - Tencent's "Honor of Kings" saw a 71% revenue increase, reclaiming the top spot in global mobile game revenue, contributing to a 10% rise in Tencent's mobile gaming revenue [1] - The trend of Chinese gaming companies focusing on overseas markets is evident, with companies like Century Huatong and 37 Interactive Entertainment leading in revenue growth, while many A-share companies experienced revenue declines [3][5] Industry Performance - The actual sales revenue of China's self-developed games in the domestic market for 2024 is projected to be 260.736 billion yuan, a year-on-year growth of 1.7%, indicating a slowdown [5] - The overseas market for self-developed games reached $18.557 billion in 2024, with a year-on-year growth of 13.39%, marking a continuous five-year trend of exceeding 100 billion yuan [5] - Century Huatong's overseas business revenue reached 11.367 billion yuan in 2024, accounting for 50.26% of its total revenue, highlighting the importance of international markets for revenue growth [5] Market Trends - The gaming industry is witnessing a shift towards high-quality game exports, with major players like Tencent and NetEase leading the charge to enhance China's global gaming influence [7] - A significant number of A-share gaming companies are experiencing revenue declines, but those heavily invested in overseas markets, such as 37 Interactive Entertainment and Century Huatong, are performing well [3][7] - The current landscape for Chinese games going global is characterized by a focus on mobile and casual games, capital investments, and breakthroughs in higher-end gaming technologies like VR and AI [9][10]

Core Insights - The mini-game "Screw Tightening" has gained significant popularity through social media, with users engaging in playful banter about its difficulty, leading to viral growth [2][3] - Major gaming companies like 37 Interactive Entertainment and Giant Network have benefited from the mini-game trend, contributing positively to their financial reports in 2024 [2][5] Industry Trends - The mini-game market has expanded significantly, with both large and small developers exploring new gameplay mechanics, resulting in a diverse range of offerings [2][4] - The rise of mini-games is attributed to their easy accessibility and low development costs, appealing particularly to middle-aged players with limited gaming time but strong spending power [4][5] Company Performance - Giant Network's mini-game "King's Journey" attracted over 25 million new users and generated 600 million yuan in revenue since its launch in February 2024 [5][6] - Century Huachuang's subsidiary, Point Interactive, reported approximately 2.245 billion yuan in revenue from mini-games like "Endless Winter" in 2024 [6] Monetization Strategies - Mini-games primarily monetize through IAA (In-App Advertising), IAP (In-App Purchases), and mixed models, with advertising being a key revenue source due to regulatory constraints on direct charging [6][7] - The potential for overseas expansion is highlighted as a significant opportunity for mini-games, with domestic companies poised to fill gaps in the international market [6][7] Future Outlook - The mini-game sector is expected to continue growing, with established IPs being adapted into mini-games, enhancing user engagement and retention [7][8] - Analysts predict that the convenience and social sharing aspects of mini-games will attract a broader audience, including non-gamers, contributing to market growth [8]

Core Viewpoint - The overall performance of A-share listed gaming companies in 2024 showed a decline, with over half experiencing revenue downturns, while a few companies achieved significant growth [1][5][11]. Group 1: Company Performance - More than half of the 23 A-share listed gaming companies reported a decline in total revenue in 2024, with 13 companies experiencing a year-on-year decrease compared to 9 in 2023 [5][9]. - Perfect World, once a leading company, saw its gaming revenue drop from 66.69 billion yuan in 2023 to 51.81 billion yuan in 2024, marking a decline of nearly 15 billion yuan [5][11]. - Century Huatong and 37 Interactive Entertainment remained the top gaming companies, with Century Huatong's gaming revenue reaching 208.75 billion yuan, a year-on-year increase of 86.57% [11][12]. - 37 Interactive Entertainment's gaming revenue was 172.93 billion yuan, up 5.47% year-on-year, maintaining its position as a profitable leader with a net profit of 26.73 billion yuan [10][12]. Group 2: Revenue and Profit Trends - The gaming revenue of companies like Jibite and Icefire Network declined significantly, with Jibite's revenue falling to 36.49 billion yuan, a decrease of 11.52% [8][10]. - Icefire Network reported a net profit drop of 190% due to high marketing costs, leading to a net loss of 2.47 billion yuan [14][10]. - Perfect World was the only major A-share gaming company to report a loss, with a net loss of 12.88 billion yuan in 2024 [9][10]. Group 3: Market Dynamics and Strategies - Many companies increased their sales expenses significantly, with Century Huatong's sales expenses rising by 129.47% to 77.42 billion yuan, while 37 Interactive Entertainment's sales expenses reached 97.12 billion yuan, an increase of 6.84% [15][14]. - The trend of "de-gaming" was noted, with companies like Zhongqingbao seeing their gaming revenue contribution drop from 49.59% in 2020 to 22.29% in 2024 [7][9]. - The gaming industry faced challenges with aging main products and a lack of new releases, impacting revenue for companies like Jibite and Electric Soul Network [8][9]. Group 4: International Performance and Employee Trends - Century Huatong achieved overseas revenue of 113.68 billion yuan, accounting for 50.26% of its total revenue, driven by successful titles like "Whiteout Survival" [17][18]. - Perfect World experienced a significant reduction in its workforce, with employee numbers dropping from 5,754 to 3,905, a decrease of 32.13% [19][20]. - Overall, 14 out of 23 companies reduced their workforce, indicating a trend of downsizing in the industry [19][20]. Group 5: Future Outlook - The first quarter of 2025 showed better-than-expected performance for several companies, with Century Huatong reporting a revenue increase of 91.12% year-on-year [22][23]. - Analysts predict continued improvement in the gaming sector as new products are launched and the market adapts to changing consumer preferences [25][22].

Group 1 - The core viewpoint of the article emphasizes the opportunities and challenges of Chinese gaming companies expanding their brands overseas, particularly through the experience of 37 Interactive Entertainment [2][3] - 37 Interactive Entertainment has been involved in overseas business since 2012, launching over 120 games in more than 200 countries and regions, showcasing significant growth in its international operations [2][3] - The company aims to allow overseas players to experience Chinese games, reflecting the founders' original entrepreneurial vision [2] Group 2 - Challenges in the gaming industry include the vast differences in user preferences across different markets, necessitating a tailored approach rather than a one-size-fits-all product strategy [3] - The company has developed a digital decision-making system based on AI technology and big data analysis to capture regional market preferences, including customized content review mechanisms for different cultural contexts [3] - To enhance user trust and engagement, the company employs a strategy of "premiumization, diversification, and globalization," which includes establishing user feedback channels and forming international teams [3] Group 3 - The digital cultural industry is highlighted as a significant advantage in the global landscape, with gaming serving as a medium for cultural dissemination [4] - The company aims to leverage gaming as a channel to promote Chinese culture globally, thereby increasing brand influence [4] - The "2025 Brand High-Quality Outbound Forum" is part of the World Brand Moganshan Conference, focusing on exploring diverse development paths for brands going overseas [4]

Core Insights - The Chinese gaming industry has entered a phase of stock competition, with the user base reaching 674 million in 2024, a year-on-year growth of 0.94% [1] - The actual sales revenue of the Chinese gaming market is 325.783 billion, reflecting a year-on-year increase of 7.53%, driven by the release of new games and the performance of popular titles [1] - A total of 26 A-share gaming companies reported a combined revenue of 93.434 billion, up 7.74% year-on-year, but the net profit halved, indicating a trend of "increased revenue without increased profit" [1] Industry Performance - Mobile games continue to dominate the market, accounting for 73.12% of actual sales revenue [1] - Approximately 88.46% of 23 gaming companies experienced a decline in gross profit margin, with six companies seeing a drop of over 10 percentage points [2] - Sales expenses for the gaming industry increased by 20.05% to 30.671 billion, with the sales expense ratio rising from 29.46% to 32.83% [4] Marketing Expenditure Trends - About 40% of gaming companies saw a year-on-year increase in sales expenses, with ST Huatuo experiencing the highest growth at 129.14% [3] - The marketing investment is becoming polarized, with over 50% of major gaming companies reporting a decline in net profit due to rising customer acquisition costs [4] - Companies like Iceberg Network have a sales expense ratio exceeding 80%, with marketing costs significantly impacting profitability [6][8] Company-Specific Insights - Iceberg Network's sales expenses reached 2.302 billion, a 32.04% increase, with marketing costs accounting for a substantial portion of total expenses [6] - Despite high marketing investments, Iceberg Network's revenue growth stagnated, resulting in a net loss of 223 million, indicating inefficiencies in their customer acquisition strategy [8] - Sanqi Interactive, focusing on mini-games, reported a sales expense ratio of over 50%, with total sales expenses of 9.712 billion, reflecting a 6.84% increase [8]

Core Insights - The article presents the market capitalization rankings of the top 50 Chinese technology and internet companies as of May 9, 2025, highlighting significant players in the industry [1]. Group 1: Market Capitalization Rankings - The top three companies by market capitalization are Alibaba Group with 3003.74 billion, Xiaomi Group with 1693.44 billion, and Pinduoduo with 1560.19 billion [3][4]. - Other notable companies in the top 10 include Meituan at 1104.71 billion, JD.com at 495.86 billion, and Baidu at 301.32 billion [4][5]. - The rankings reflect a diverse range of companies, including those in e-commerce, food delivery, and automotive sectors, indicating a broad technological landscape [5][6]. Group 2: Emerging Players - Companies like Li Auto and Kuaishou are also featured in the rankings, with market capitalizations of 291.48 billion and 286.48 billion respectively, showcasing the growth of electric vehicles and social media platforms [4][5]. - The presence of companies such as Xpeng Motors and NIO, with market caps of 186.55 billion and 89.68 billion respectively, highlights the increasing importance of the electric vehicle sector in the technology landscape [5][6]. Group 3: Overall Trends - The data indicates a strong performance of technology companies in China, with significant market capitalizations reflecting investor confidence and growth potential in the sector [1][3]. - The rankings are calculated based on the latest exchange rates, emphasizing the importance of currency fluctuations in assessing market value [6].