关于公司及控股子公司开展外汇套期保值业务的公告 证券代码：002555 证券简称：三七互娱 公告编号：2026-002 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 三七互娱网络科技集团股份有限公司（以下简称"公司"）于 2026 年 1 月 20 日召开第 七届董事会第五次会议，审议通过了《关于公司及控股子公司开展外汇套期保值业务的议案》， 同意公司及控股子公司开展的外汇套期保值业务额度为 8 亿美元或其他等值货币。本议案属 于董事会审议范围内，无需提请公司股东会审议，现将相关事项公告如下： 一、开展外汇套期保值业务的目的 公司海外业务发展规模不断扩大，公司美元、港币等外币结算业务占比不断攀升，因此 当汇率出现较大波动时，汇兑损益对公司的经营业绩会造成一定影响。为规避外汇市场风险， 降低汇率波动对公司生产经营、成本控制的不良影响，保持公司稳定的利润水平，公司拟与 银行等金融机构开展外汇套期保值业务。 二、拟开展的外汇套期保值业务概述 1、外汇套期保值业务的品种及币种 外汇套期保值业务主要品种具体包括远期结售汇、外汇互换、外 ...

证券代码：002555 证券简称：三七互娱 公告编号：2026-003 三七互娱网络科技集团股份有限公司 一、本员工持股计划的持股情况 1、公司于 2019 年 7 月 27 日在巨潮资讯网披露了《关于第三期员工持股计划非交易过 户完成的公告》，"三七互娱网络科技集团股份有限公司回购专用证券账户"所持有的公司 股票已于 2019 年 7 月 25 日非交易过户至"三七互娱网络科技集团股份有限公司-第三期员 工持股计划"，过户股数为 22,347,537 股，占当时公司总股本（2,112,251,697 股）的比例为 1.06%。 2、本员工持股计划按照规定予以锁定，自公司公告最后一笔标的股票过户至本员工持 股计划名下之日起 12 个月后开始分期解锁，锁定期最长 36 个月。本员工持股计划存续期为 48 个月，自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起算。 3、截至本公告日，本员工持股计划持股数量为1,161,886股，占公司目前总股本的0.05%。 本员工持股计划未出现或用于抵押、质押、担保、偿还债务等情形；未出现累计持有公司股 票数量总额超过公司股本 10%以及任一持有人持有的员工持股计划份额 ...

三七互娱网络科技集团股份有限公司 一、开展外汇套期保值业务的背景 公司海外业务发展规模不断扩大，公司美元、港币等外币结算业务占比不断攀升，因此 当汇率出现较大波动时，汇兑损益对公司的经营业绩会造成一定影响。为规避外汇市场风险， 降低汇率波动对公司生产经营、成本控制的不良影响，保持公司稳定的利润水平，公司拟与 银行等金融机构开展外汇套期保值业务。 二、拟开展的外汇套期保值业务概述 1、外汇套期保值业务的品种及币种 外汇套期保值业务主要品种具体包括远期结售汇、外汇互换、外汇期货、外汇期权业务 及其他外汇衍生产品等业务。公司拟开展的外汇套期保值业务涉及的币种包括但不限于公司 生产经营所使用的主要结算货币，如美元、港币等。 2、预计投入资金 公司及控股子公司拟开展的外汇套期保值业务额度为 8 亿美元或其他等值货币，额度使 用期限自第七届董事会第五次会议审议通过之日起 12 个月内。上述额度在期限内可循环滚 动使用，但期限内任一时点的金额不超过 8 亿美元或其他等值货币。 3、资金来源 公司本次业务的资金来源为自有资金，不涉及募集资金。 关于开展外汇套期保值业务的可行性分析报告 4、合约期限 与基础交易期限相匹配，一般 ...

证券代码：002555 证券简称：三七互娱 公告编号：2026-001 三七互娱网络科技集团股份有限公司 第七届董事会第五次会议决议公告 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"）第七届董事会第五 次会议通知于 2026 年 1 月 13 日以专人送达、电子邮件、电话方式发出，会议于 2026 年 1 月 20 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《关于董事会授权公司管理层办理募集资金专户相关事宜的议案》 根据公司募投项目的实施情况，为提高募集资金使用效率，根据《上市公司证券发行注 册管理办法》《上市公司募集资金监管规则》《深圳证券交易所上市公司自律监管指引第 1 号——主板上市公司规范运作》等相关法律、法规和规范性文件及《公司章程》的有关规定， 公司董事会批准设立募集资金专项 ...

Group 1 - The gaming sector experienced a decline of 0.32% on January 20, with Jibite leading the drop [1] - The Shanghai Composite Index closed at 4113.65, down 0.01%, while the Shenzhen Component Index closed at 14155.63, down 0.97% [1] - Major stocks in the gaming sector showed mixed performance, with Giant Network rising by 2.40% and Jibite falling by 3.37% [2][1] Group 2 - The gaming sector saw a net outflow of 741 million yuan from institutional investors, while retail investors had a net inflow of 457 million yuan [2][3] - The trading volume for major gaming stocks varied, with Giant Network recording a trading volume of 690,300 shares and a transaction value of 3.561 billion yuan [1] - Jibite's stock price decreased to 459.78 yuan, with a trading volume of 16,100 shares [2]

Group 1 - The core viewpoint is that China's gaming user spending per capita has significant growth potential compared to foreign markets, with expected increases in average revenue per user (ARPU) driven by policy support, increased game supply, and macroeconomic recovery [1] - The gaming policy environment in China has improved, with a projected issuance of 1,771 game licenses in 2025, marking a 25% increase from 2024 and a 65% increase from 2023, indicating a stable and supportive phase for the industry [1] - The overseas market for self-developed games in China is expected to reach $20.455 billion in 2025, reflecting a year-on-year growth of 10.23%, supported by a systematic national strategy for cultural export [1] Group 2 - The domestic mini-program gaming market is projected to generate revenue of 53.535 billion yuan in 2025, representing a substantial year-on-year growth of 34.39% [2] - A new agreement between Apple and Tencent regarding a 15% commission on payments within mini-program games is expected to enhance the payment process, potentially increasing iOS mini-program user numbers and improving profit margins for gaming companies [2] - The WeChat mini-game platform is set to implement a new incentive policy for in-app purchases starting January 1, 2026, which will favor developers by adjusting revenue sharing from 70:30 to 80:20 [2] Group 3 - AI is transforming the entire game development process, reducing character animation production time by 40% and significantly improving marketing efficiency through AI-generated materials and targeted advertising [3] - AI is enhancing operational efficiency by providing intelligent customer service and improving material risk detection, thus streamlining the gaming experience [3] - New AI-driven gameplay experiences are being developed, such as "Endgame Duel" and the AI-native application "EVE," which integrate emotional dialogue and personalized immersive experiences [3]

Core Viewpoint - The article highlights the strong performance of 37 Interactive Entertainment, driven by its strategic investments in AI and technology, positioning it as a leader in the gaming industry and beyond [1][2]. Group 1: AI and Gaming Sector - The rise of AI applications has made gaming one of the most mature fields for AI technology deployment, attracting significant investor interest and accelerating market trends [1]. - 37 Interactive Entertainment has developed its own AI model, "Xiao Qi," which has been widely applied across various business functions, enhancing its operational capabilities [1]. Group 2: Investment Strategy and Value Creation - 37 Interactive Entertainment has constructed a value logic that transcends traditional gaming companies through strategic technology investments, marking a critical moment for value realization [2]. - The company has invested in several promising firms, including Zhipu, Lijing Innovation, and Qiangnao Technology, which are gaining market attention and aligning with trends in AI, fruit supply chains, and brain-computer interfaces [2][6]. Group 3: Systematic Investment Approach - The company’s investment strategy is comprehensive, covering the entire value chain from foundational computing power to upper-level applications, which strengthens its market position [6]. - 37 Interactive Entertainment's investments span various sectors, including AI, quantum computing, and biomanufacturing, positioning it for future growth and innovation [6][7]. Group 4: Ecosystem Empowerment and Business Synergy - The company actively explores ecosystem empowerment, enhancing the development of its industrial ecosystem while reinforcing its business synergies [9][10]. - The investment in Qiangnao Technology exemplifies its strategy, as this company is a leading player in the brain-computer interface sector, promising significant collaborative opportunities [11][12]. Group 5: Long-term Growth and Value Reassessment - The strong performance of 37 Interactive Entertainment is not merely a short-term phenomenon but reflects the maturation of its investment ecosystem, leading to new growth paradigms and value reassessment [14]. - The company’s extensive user base and rich content offerings provide a fertile ground for innovative product development and market testing, fostering a robust partnership with its investments [14].

Core Viewpoint - The article highlights the strong performance of 37 Interactive Entertainment, driven by its strategic investments in AI and technology, positioning it as a leader in the gaming industry and beyond [1][2]. Group 1: AI and Gaming Sector - The rise of AI applications has made gaming one of the most mature fields for AI technology deployment, attracting significant investor interest and accelerating market trends [1]. - 37 Interactive Entertainment has developed its own AI model, "Xiao Qi," which has been widely applied across various business functions, enhancing its operational capabilities [1]. Group 2: Investment Strategy and Value Creation - 37 Interactive Entertainment has constructed a value logic that transcends traditional gaming companies through strategic technology investments, marking a critical moment for value realization [2]. - The company has invested in several promising firms, including Zhipu, Lijing Innovation, and Qiangnao Technology, which are gaining market attention and aligning with trends in AI, fruit supply chains, and brain-computer interfaces [2][6]. Group 3: Systematic Investment Approach - The company has a broad investment portfolio that spans from foundational computing power to upper-level applications, creating a comprehensive industry chain [6]. - Its investments cover various sectors, including AI, semiconductors, and quantum computing, establishing a robust infrastructure for future growth [6][7]. Group 4: Ecosystem Empowerment and Business Synergy - 37 Interactive Entertainment's investment narrative emphasizes not only precise positioning in core technology sectors but also the exploration of ecosystem empowerment to drive industry development [9]. - The investment in Qiangnao Technology exemplifies the company's strategy, aiming to leverage brain-computer interface technology in entertainment and education, fostering significant business synergies [11][13]. Group 5: Long-term Growth and Value Reassessment - The strong performance of 37 Interactive Entertainment is not merely a short-term phenomenon but reflects the maturation of its investment ecosystem, leading to new growth paradigms and value reassessment opportunities [14]. - The company's extensive user base and rich content will provide practical scenarios for testing and developing innovative products and services, reinforcing its position in the evolving landscape of the entertainment industry [14].

Core Viewpoint - The article highlights the strong performance of 37 Interactive Entertainment, driven by its strategic investments in AI and technology, particularly in the gaming sector, which is seen as a mature application for AI technology [1][8]. Group 1: Investment Strategy - 37 Interactive Entertainment has made early investments in the GEO sector, positioning itself advantageously in a rapidly growing market and capitalizing on the transformative potential of AI in search and marketing [2][9]. - The company has a broad investment portfolio that spans various sectors, including computing power, hardware, and applications, creating a comprehensive value chain from foundational infrastructure to AI applications [6][7]. - Recent investments include companies like Zhiyun Technology, Lijing Innovation, and Qiangna Technology, which are gaining market attention and aligning with trends in AI, fruit supply chains, and brain-computer interfaces [1][6]. Group 2: Value Creation - The investment strategy of 37 Interactive Entertainment is characterized by systematic placements across multiple high-quality enterprises, which enhances its ability to realize value continuously [4][7]. - The company’s investments align with national strategic directions, contributing to technological innovation and industrial upgrades, thereby reinforcing its role in sustainable development [7][9]. - The collaboration with Qiangna Technology, a leading brain-computer interface company, exemplifies the dual business synergy that can emerge from such investments, potentially revolutionizing human-computer interaction [11][13]. Group 3: Market Performance - 37 Interactive Entertainment's stock has shown strong performance, reaching a two-year high, reflecting the market's positive reception of its strategic investments [5][8]. - The company is expected to continue benefiting from its extensive investment ecosystem, which is poised to release significant value as more of its portfolio companies mature and achieve breakthroughs [7][14].

Investment Rating - The industry investment rating is "Positive" [3] Core Insights - The gaming sector is expected to experience significant growth in 2026, driven by a mature product line, a persistent "lipstick effect" in consumer spending, and a peak in product cycles among major gaming companies [8][11] - The market size for the gaming sector is projected to reach approximately 357 billion yuan in 2026, with a quarterly growth rate expected to be in the high single digits [11] - The issuance of new game licenses has increased significantly, with a total of 1,771 licenses issued in 2025, marking a 25% increase from 2024 [9] - The domestic gaming market is anticipated to maintain strong consumer enthusiasm, supported by a moderate economic growth forecast of around 4.8% for GDP in 2026 [10] Summary by Sections Market Overview - The gaming sector is characterized by product line-driven growth, a noticeable lipstick effect, and the rise of A-share gaming companies [6] - Major titles such as "Endless Winter," "Supernatural Action Group," and "Delta Action" have catalyzed revenue growth in 2025 [6] Supply Side Analysis - In 2025, 1,729 mobile games received licenses, with 1,648 being domestic titles, indicating a 26.39% increase from 2024 [9] - The issuance of PC client game licenses also saw a rise, with 159 licenses granted, a 17.78% increase from the previous year [9] Consumer Behavior - The gaming sector is expected to benefit from a stable macroeconomic environment, with consumer spending likely to remain robust due to the lipstick effect [10] Market Size Forecast - The gaming market is projected to achieve a quarterly size of over 90 billion yuan in Q3 2026, contributing to an annual total of approximately 357 billion yuan [11] Company Valuation - The gaming sector is anticipated to reach a 20x P/E valuation by 2026, with current average valuations around 18x P/E [43] - Key companies to watch include Century Huatong, Giant Network, and Tencent Holdings, which have strong product lines and upcoming releases [43]