证券代码：002555 证券简称：三七互娱 公告编号：2026-005 三七互娱网络科技集团股份有限公司 董 事 会 二〇二六年二月十二日 1 三七互娱网络科技集团股份有限公司（以下简称"公司"、"三七互娱"）董事会于近 日收到公司董事、董事会秘书、财务总监叶威先生的书面报告。叶威先生因工作安排，申请 辞去公司董事会秘书职务，辞任后仍在公司担任董事、财务总监职务。根据《深圳证券交易 所股票上市规则》等相关规定，叶威先生的书面报告自送达公司董事会之日起生效。截至本 公告披露日，叶威先生未持有公司股份，亦不存在应当履行而未履行的承诺事项。本次变动 不会影响公司经营管理工作的正常开展。 叶威先生在任职期间勤勉尽责，恪尽职守，公司及董事会对叶威先生在任职期间为公司 发展所做出的贡献表示衷心的感谢！ 经公司提名委员会审核通过后，公司于 2026 年 2 月 12 日召开第七届董事会第六次会议， 审议通过了《关于聘任公司董事会秘书的议案》，同意聘任王思捷先生为公司董事会秘书， 任期从董事会通过之日起至第七届董事会届满为止。王思捷先生熟悉董事会秘书履职相关的 法律法规，具备与岗位相应的专业胜任能力，符合《中华人民共和国公司 ...

三七互娱网络科技集团股份有限公司（下称"公司"或"本公司"）第七届董事会第六 次会议通知于 2026 年 2 月 9 日以专人送达、电子邮件、电话方式发出，会议于 2026 年 2 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： 证券代码：002555 证券简称：三七互娱 公告编号：2026-004 三七互娱网络科技集团股份有限公司 第七届董事会第六次会议决议公告 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。 一、审议通过《关于聘任公司董事会秘书的议案》 公司董事、董事会秘书、财务总监叶威先生因工作安排，申请辞去公司董事会秘书职务， 辞任后仍在公司担任董事、财务总监职务。 《关于变更董事会秘书的公告》详见《中国证券报》《上海证券报》《证券时报》《证 券日报》及巨潮资讯网（http://www.cninfo.com.cn）。 特此公告。 三七互娱网络科技集 ...

Investment Rating - The report maintains a neutral investment rating for the smart technology industry [2] Core Insights - The smart technology sector is experiencing a significant upward trend, with various ETFs showing strong performance, particularly in the media and AI segments [3][12] - The market for new games is recovering, with both domestic and international supply accelerating, led by major companies like Tencent [4][34] - The AI application landscape is witnessing breakthroughs, with significant investments from major tech companies, indicating a potential revaluation of AI application sectors [5] Market Review - The smart technology ETFs have shown a general upward trend, with the media ETF (512980) leading with a 22.14% increase, followed by the Sci-Tech AI ETF (588760) and the Xinchuang ETF (159537) with increases of 17.39% and 17.21% respectively [3][12] - The technology sector is in an upward channel, supported by factors such as valuation recovery, improved trading structures, and ongoing policy support for technology sectors [12] Industry Dynamics - The gaming market is seeing a revival with major titles being launched, including Tencent's "Counter-Strike: Future" and "All-Star Awakening," which are expected to generate significant revenue [4][34] - The film industry is also active, with six high-quality films scheduled for release during the 2026 Spring Festival, indicating a rich supply for the cinema market [4] Investment Recommendations - Focus on AI application-themed ETFs, as the release of models like Seedance 2.0 and Keling 3.0 marks significant advancements in the multi-modal field, which could lead to accelerated commercialization of AI applications [5]

Core Viewpoint - The company emphasizes the diversification trend in the gaming market, focusing on evolving user demands and the importance of content innovation [1] Group 1: Industry Trends - The gaming market is experiencing continuous diversification in themes and gameplay [1] - Different user segments are showing evolving demands, indicating a shift in market dynamics [1] Group 2: Company Strategy - The company maintains a focus on industry developments and content innovation directions [1] - It evaluates the market potential of various themes and gameplay based on its R&D capabilities and long-term operational experience [1] - The company aims to enrich its product portfolio and enhance product competitiveness in alignment with its business planning and product positioning [1]

Group 1 - The event "Happy Spring Festival: Beautiful Anhui Goes to Malaysia" showcases Anhui's rich tourism resources and cultural charm through various activities, including art exhibitions and food demonstrations [3][4] - Two AI-generated holographic scrolls created by 37 Interactive Entertainment were a highlight, featuring themes of Anhui's natural landscapes and the traditional "Four Treasures of the Study" [4][7] - The AI scrolls aim to enhance the understanding of Anhui's culture and heritage among Southeast Asian audiences, demonstrating the innovative capabilities of Chinese AI technology [7][9] Group 2 - The "Four Treasures of the Study" scroll illustrates the unique craftsmanship of Anhui's traditional art forms, including the production of Xuan paper and ink, through dynamic visual storytelling [4][5] - 37 Interactive Entertainment has a long-standing commitment to integrating technology with cultural promotion, having previously incorporated Anhui's cultural elements into their gaming products [9] - The company plans to continue exploring the fusion of technology and cultural tourism, aiming to create more digital products that reflect Anhui's rich cultural heritage and promote its tourism on a global scale [9]

Core Insights - The AI application in the media and gaming sectors is driving significant market activity, with various ETFs experiencing substantial gains, particularly the Film ETF which saw a limit-up increase [1] - ByteDance's launch of the AI video generation model Seedance 2.0 has sparked interest in AI-related stocks, although the model's ability to reference real human materials has been temporarily suspended for optimization [2] - The domestic gaming market is projected to continue its growth, with a notable increase in the number of game licenses issued, indicating a robust pipeline for future products [3] Group 1: ETF Performance - The Film ETF has increased by 10.03% year-to-date, with an estimated scale of 238 million [2] - The Gaming ETF has seen a rise of 6.68% year-to-date, with an estimated scale of 3.537 billion [2] - The Media ETF has grown by 5.87% year-to-date, with an estimated scale of 11.47 billion [2] Group 2: Market Trends - The pre-sale box office for new films during the 2026 Spring Festival has exceeded 86 million, indicating strong consumer interest [3] - The number of domestic game licenses issued in January increased by 33 compared to the previous month, and by 54 compared to the same period last year, suggesting improved approval processes [3] - The actual sales revenue of the domestic gaming market is projected to reach 350.79 billion in 2025, a year-on-year increase of 7.68% [3] Group 3: Industry Analysis - The gaming sector is expected to maintain a high growth trajectory, with the mobile gaming market projected to generate 257.08 billion in revenue, up 7.92% year-on-year [3] - The SW Media sector's allocation has shifted, with the gaming segment seeing an increase in overweight positions to 40.26% [4] - The revival of PC gaming and the increasing budget for mobile game development are expected to enhance the market's product offerings [5]

Policy Updates - Beijing is accelerating the construction of the Future Digital Space Innovation Experimental Zone, with the unveiling of the "Shougang Park eSports Center" and the launch of a 5,400 square meter gaming eSports incubator [1] - Shanghai's information transmission, software, and information technology services industry is projected to grow over 22% by 2025, reaching a scale of 1.7297 trillion yuan, making it the third largest industry in the city [1] - The Pudong District is integrating eSports into its cultural and tourism activities, with plans for a "National eSports Carnival" as part of its development matrix [1] - During the Shanghai Two Sessions, representatives suggested supporting the "New Three Samples" (online literature, online games, online films) for cultural export [1] - Zhejiang Province emphasizes cultural "New Three Samples" for international influence during its 14th Five-Year Plan [1] Industry Insights - In January 2026, 177 domestic games and 5 imported games received approval from the National Press and Publication Administration, maintaining a high level of game approvals [2] - The first AI virtual idol in China, Yuri, received identity certification, indicating a growing trend in AI integration within the gaming and eSports sectors [2] - Guangzhou's internet gaming service revenue exceeded 56.8 billion yuan in 2025, with a year-on-year growth of 18.8%, highlighting the sector's rapid development [2] - The Guangzhou Game Industry Service Center has been established to support the lifecycle development of gaming companies [2] Events and Initiatives - Douyin Mini Games launched a cash incentive policy for Q1 2026, offering up to 40% cash rewards for game consumption [3] - The INDIE Live Expo, Asia's largest independent game festival, is scheduled for April 25, 2026, providing a platform for independent game developers [4] - The 2026 AGF Asia Game Fair will take place from October 2 to 5 in Guangzhou, featuring over 1,000 IPs and 7,000 cultural products [4] - The Fourth Sci-Fi Planet Competition is open for global project submissions, with a total prize pool of 1.75 million yuan, including 600,000 yuan for the sci-fi game category [4]

Core Insights - The news highlights the rapid growth and potential of AI-driven animation and content creation in the Chinese market, with various companies leveraging AI technology to enhance production efficiency and expand their IP monetization strategies. Group 1: Company Overviews - 中文在线, based in Beijing, is a leading digital reading company with over 5.6 million digital content types and more than 2,000 contracted authors. The company has developed its own AI model, "中文逍遥2.0," which supports the entire production process of AI comics and has reduced the adaptation cycle to 3 days [1][22]. - 荣信文化, located in Xi'an, focuses on children's books and has partnered with Alibaba to develop AI content generation tools, converting children's picture books into AI animations, thus reaching younger audiences [2][22]. - 捷成股份, a major player in film content rights management, has developed AI video generation technology that shortens the production cycle of animations to 7 days, enhancing the efficiency of classic IP adaptations [3][23]. - 欢瑞世纪, a film production leader, is converting its rich IP portfolio into AI animations, optimizing production costs through AI technology [4][24]. - 华智数媒 specializes in short drama production and is utilizing AI to streamline the entire production process, aiming to capture market share in the growing animation sector [5][25]. Group 2: Growth Prospects - 中文在线 anticipates that by 2026, AI animation production capacity will continue to increase, with overseas expansion and paid subscriptions opening new growth avenues [1][22]. - 荣信文化 expects stable demand in the children's content sector, with AI animations reducing production costs and creating growth opportunities through IP derivatives and smart products by 2026 [2][22]. - 捷成股份 projects that the combination of film rights and AI technology will enhance copyright monetization efficiency as the AI animation market expands by 2026 [3][23]. - 欢瑞世纪's rich IP reserves and AI animation capabilities are expected to broaden monetization channels, leading to performance growth by 2026 [4][24]. - 华智数媒 aims to leverage the overlap between short dramas and animations to respond quickly to market demands, with significant growth anticipated by 2026 [5][25]. Group 3: Technological Innovations - 利欧股份 is investing in AI content generation companies to enhance animation production and distribution, aiming to achieve precise content targeting through digital marketing channels [6][27]. - 掌阅科技, backed by ByteDance, is integrating AI technology to optimize the animation production process, with expectations of accelerated production capacity and monetization by 2026 [7][28]. - 万兴科技 has launched an AI animation generation platform that automates the entire production process, enhancing competitiveness in the consumer creative tools market [8][29]. - 奥飞娱乐 is focusing on AI-driven animation production, optimizing character modeling and motion capture to improve efficiency and expand growth opportunities by 2026 [9][30]. - 光线传媒 is utilizing AI technology to enhance animation production efficiency, with expectations of significant growth in the animation film market by 2026 [10][31]. Group 4: Market Trends - 智度股份 is combining large model technology with digital content creation to develop an AI animation generation system, aiming for rapid scalability and market penetration by 2026 [11][32]. - 芒果超媒 is leveraging its strong content production capabilities and AI technology to expand monetization channels, with growth expected as content quality improves and international expansion occurs by 2026 [12][33]. - 浙文互联 is creating an integrated platform for AI animation production and marketing, aiming to efficiently combine content creation with traffic monetization, with significant growth potential by 2026 [13][34]. - 完美世界 is focusing on converting gaming and film IP into AI animations, with expectations of enhanced production efficiency and growth opportunities by 2026 [14][35]. - 三七互娱 is leveraging its gaming IP to expand into AI animations, with significant growth anticipated as the market for quality content and international expansion develops by 2026 [15][36].

Group 1 - The core event is the launch of the "Warm-hearted New Year Feast" in Wuhu City, aimed at providing a special New Year meal for vulnerable groups such as elderly individuals living alone and new employment groups [1][3] - The event is organized by the Wuhu Municipal Social Work Department and the Wuhu Civil Affairs Bureau, with support from the Wuhu Charity Association and the Wuhu Volunteer Association, highlighting community collaboration [1][3] - The company, Sanqi Interactive Entertainment, actively participated by pledging 90 meals, specifically targeting those in need, including 60 meals for elderly individuals [3][5] Group 2 - Sanqi Interactive Entertainment has a strong commitment to corporate social responsibility, having invested over 75 million yuan in various charitable activities, focusing on assisting the elderly, the needy, and education [7] - The company has been recognized for its effective party-building work, receiving multiple honors at the provincial and municipal levels, establishing itself as a benchmark for non-public enterprise party organizations [5][6] - The partnership with the Wuhu Charity Association represents a new chapter in integrating party-building with public welfare, aiming to enhance the impact of both sectors [6]

Investment Rating - The industry is rated as "Outperforming the Market" with an expected relative increase of over 10% in the industry index compared to the broader market within the next six months [47]. Core Insights - In Q4 2025, the SW Media Industry Index decreased by 4.92%, with a slight reduction in capital activity, yet it remains at a high level. The fund's heavy allocation in the media sector has shifted to an underweight status, while the gaming sector continues to attract market attention and remains overweight [1][2][10]. - The gaming sector occupies a significant portion of the top ten heavy stocks, indicating high market interest. Among the top ten heavy stocks, eight are from the gaming industry, with notable declines in stock prices for most, except for one stock that saw an increase [2][24]. Summary by Sections 1. Capital Activity - The SW Media Industry Index closed at 819.69 points at the end of Q4 2025, down from 862.14 points at the beginning of the quarter, reflecting a 4.92% decline. The average daily trading volume was 51.09 billion yuan, a decrease of 5.20 billion yuan from the previous quarter [10]. 2. Industry Allocation Status - The allocation ratio for the SW Media Industry in Q4 2025 was 1.63%, with a fund heavy allocation ratio of 1.22%, indicating a low allocation of 0.41%. This reflects a shift from overweight to underweight status [13][16]. - The number of heavy allocation stocks accounted for 50.77% of the total, showing a slight decrease in concentration, ranking 14th among all primary industries [17]. - The gaming sector maintained an overweight status with a 40.26% allocation, while other sub-sectors remained underweight [35][39]. 3. Fund Concentration - The concentration of fund heavy stocks decreased slightly, with the top five, ten, and twenty stocks accounting for 68.74%, 85.72%, and 97.33% of the total fund heavy stock value, respectively, indicating a high concentration in leading stocks [3][43]. 4. Investment Recommendations - Given the current fund allocation and valuation levels in the SW Media Industry, it is suggested to focus on leading companies in the gaming sector, particularly those with rich game license reserves and applications in AI [45].