证券代码：002555 证券简称：三七互娱 公告编号：2024-069 三七互娱网络科技集团股份有限公司 1 司该次实施权益分派后回购股份价格上限由不超过人民币 33.11 元/股调整为不超过人民币 32.90 元/股。公司回购方案其他内容保持不变，具体回购股份的数量和回购资金总额以回 购期满时实际情况为准。具体内容详见公司于 2024 年 11 月 2 日披露于巨潮资讯网和公司指 定信息披露报刊的《2024 年第三季度权益分派实施公告》。 根据《上市公司股份回购规则》及《深圳证券交易所上市公司自律监管指引第9号—— 回购股份》的相关规定，公司应当在每个月的前三个交易日内披露截至上月末的回购进展情 况。现将公司回购股份的进展情况公告如下： 一、回购公司股份的进展情况 关于回购公司股份的进展公告 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(以下简称"公司")分别于 2023 年 12 月 26 日和 2024 年 1 月 12 日召开了第六届董事会第十五次会议和 2024 年第一次临时股东大会，审议 通过了《关于以集中竞价交 ...

三七互娱网络科技集团股份有限公司（下称"公司"或"本公司"）非公开发行股票募 集资金投资项目"广州总部大楼建设项目"已达到预定可使用状态，满足结项条件。因此， 公司决定对"广州总部大楼建设项目"进行结项。现将相关事项公告如下： 证券代码：002555 证券简称：三七互娱 公告编号：2024-068 三七互娱网络科技集团股份有限公司 关于部分募集资金投资项目结项的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误 导性陈述或重大遗漏。 一、 募集资金基本情况 经中国证券监督管理委员会（以下简称"中国证监会"）《关于核准芜湖三七互娱网络 科技集团股份有限公司非公开发行股票的批复》（证监许可【2021】16 号）核准，公司本 次非公开发行人民币普通股(A 股)股票 105,612,584 股，每股面值为人民币 1.00 元，发行 价为每股人民币 27.77 元，募集资金总额为人民币 2,932,861,457.68 元，扣除发行费用（不 含税）31,309,777.95 元后，本次募集资金净额为人民币 2,901,551,679.73 元。截至 2021 年 2 月 10 日，上述发行 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of 21.95 RMB, up from the previous 18.61 RMB [1][5] Core Views - The company has a strong dividend policy, having distributed dividends three times this year, totaling 0.63 RMB per share [1] - Despite a competitive domestic gaming market and increased marketing expenses, the company's product pipeline is robust, with multiple games expected to launch in 2024-2025 [1][3] - The company's revenue for Q3 2024 reached 13.339 billion RMB, a 10.76% YoY increase, although net profit declined due to higher sales expenses [1] Financial Performance - The company's 2024 Q3 revenue was 4.107 billion RMB, down 8.35% QoQ and 4.09% YoY, with net profit at 633 million RMB, down 34.51% YoY [1] - Gross margin for Q3 2024 was 78.0%, down 2.4 percentage points YoY, while sales expenses increased by 8.45 percentage points to 57.05% [1] - EPS for 2024-2026 is forecasted at 1.22/1.42/1.59 RMB, slightly lower than previous estimates of 1.26/1.47/1.66 RMB [1] Product Pipeline - The company has a rich product reserve, with several games expected to launch in 2024-2025, including MMORPGs and SLGs [1] - Key titles include "Douluo Continent: Soul Hunting World," which began pre-registration in August 2024, and other games like "Code: War Song M" and "Code: MLK" [1] Industry Comparison - The company's PE ratio is 13.57x for 2024E, lower than the industry average of 18.72x, indicating potential undervaluation [1][11] - Compared to peers like Giant Network and Perfect World, the company's valuation metrics are relatively attractive [11]

2024 年第三季度权益分派实施公告 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（以下简称"公司"）于 2024 年 10 月 30 日召开 第六届董事会第二十一次会议和第六届监事会第十七次会议审议通过 2024 年第三季度权益 分派方案，现将权益分派事宜公告如下： 一、董事会审议通过权益分派方案情况 1、公司 2024 年第三季度权益分派方案具体内容为：按分配比例不变的方式，以分红派 息股权登记日实际发行在外的总股本剔除上市公司回购专用证券账户的股份为基数，向全体 股东每 10 股派送现金股利 2.10 元（含税）；本次分配不派送红股，不以资本公积转增股本。 2、自权益分派方案披露至实施期间，公司股本总额未发生变化。 3、本次实施的分派方案与公司第六届董事会第二十一次会议审议通过的权益分派方案 一致。 证券代码：002555 证券简称：三七互娱 公告编号：2024-067 三七互娱网络科技集团股份有限公司 4、本次实施的分派方案距离董事会审议通过的时间未超过两个月。 5、公司已于 2024 年 5 月 10 日召开 20 ...

证券代码：002555 证券简称：三七互娱 公告编号：2024-066 三七互娱网络科技集团股份有限公司 关于回购公司股份的进展公告 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(以下简称"公司")分别于 2023 年 12 月 26 日和 2024 年 1 月 12 日召开了第六届董事会第十五次会议和 2024 年第一次临时股东大会，审议 通过了《关于以集中竞价交易方式回购公司股份方案的议案》，同意公司使用自有资金以集 中竞价交易的方式回购公司股份，回购金额不低于（含）人民币 1 亿元且不超过（含）人民 币 2 亿元，回购价格不超过（含）人民币 33.90 元/股，回购股份实施期限为自公司股东大 会审议通过本次回购股份方案之日起 12 个月内,公司将在回购期限内根据市场情况择机作 出回购决策并予以实施。公司本次回购的股份将用于注销减少注册资本。回购方案的具体内 容请详见公司于 2024 年 1 月 13 日披露于巨潮资讯网和公司指定信息披露报刊的《关于以集 中竞价交易方式回购公司股份方案的报告书》。 2024 年 5 月 ...

Investment Rating - The report maintains an "Accumulate" rating for the company [1][2]. Core Views - The company achieved a revenue of 13.339 billion yuan in the first three quarters of 2024, representing a year-on-year growth of 10.76%. However, the net profit attributable to shareholders decreased by 13.45% to 1.897 billion yuan [1]. - The decline in net profit is attributed to increased marketing expenses for successful games and a natural decline in revenue from older games [1]. - The company has a diverse game portfolio and is set to launch several new titles, including "Douluo Dalu: Hunting Soul World," which is scheduled for testing on November 6 [1]. - The company plans to distribute cash dividends of 2.10 yuan per share, totaling over 460 million yuan, which is expected to exceed 72.96% of the net profit attributable to shareholders [1]. Financial Summary - Revenue projections for 2024-2026 are 17.484 billion yuan, 18.942 billion yuan, and 20.483 billion yuan, with corresponding growth rates of 5.66%, 8.34%, and 8.13% [4]. - The net profit for the same period is projected to be 2.523 billion yuan, 2.883 billion yuan, and 3.139 billion yuan, with growth rates of -5.12%, 14.29%, and 8.89% respectively [4]. - The diluted earnings per share (EPS) are expected to be 1.14 yuan, 1.30 yuan, and 1.42 yuan for 2024, 2025, and 2026 [4].

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The company's Q3 revenue was 4.1 billion RMB, a year-on-year decrease of 4.09%, and the net profit attributable to the parent company was 630 million RMB, down 34.51% year-on-year [1] - The decline in revenue is attributed to the lifecycle impact of older products, while new games like "Time Grocery Store" contributed positively [1] - The company has a strong pipeline of games across various genres, which is expected to support future growth [1] Revenue Analysis - Q3 revenue showed a slight decline of 4.09% year-on-year and 8.35% quarter-on-quarter, primarily due to older products [1] - New releases such as "Time Grocery Store" helped mitigate some of the declines from older titles [1] - Mini-games like "Seeking the Great Thousand" and "Soul Sequence" continue to perform well [1] Profitability Analysis - Q3 net profit margin remained stable quarter-on-quarter, but decreased year-on-year due to increased marketing expenses [1] - The net profit attributable to the parent company and the non-recurring net profit both saw slight quarter-on-quarter declines of 2.41% and 8.56%, respectively [1] - The company’s net profit margin and non-recurring net profit margin were 15.41% and 14.66%, respectively, with year-on-year declines of 7.15% and 7.81% [1] Future Outlook - The company is expected to continue benefiting from mini-games and has a rich product pipeline to ensure future growth [1] - Successful titles in the mini-game sector provide a competitive advantage, and ongoing operations of existing games are expected to contribute steadily [1] - The company has a diverse range of upcoming products across various genres, including MMORPGs and SLGs, which are in the pipeline for release [1] Profit Forecast and Valuation - The company’s projected net profits for 2024-2026 are 2.54 billion RMB, 3.02 billion RMB, and 3.25 billion RMB, respectively, with corresponding P/E ratios of 14.4, 12.1, and 11.3 [1]

Investment Rating - The investment rating for the company is "Buy" with a target price of RMB 18.93 [2][4][7] Core Views - The company reported Q3 revenue of RMB 4.107 billion, a year-over-year decrease of 4.09% and a quarter-over-quarter decrease of 8.35%. The net profit attributable to shareholders was RMB 633 million, down 34.51% year-over-year and 2.41% quarter-over-quarter, slightly below the forecasted range of RMB 650-750 million for Q3 2024 [4] - For the first three quarters of 2024, the company achieved revenue of RMB 13.339 billion, a year-over-year increase of 10.76%, and a net profit of RMB 1.897 billion, down 13.45% year-over-year [4] - The company plans to distribute a cash dividend of RMB 2.10 per 10 shares, totaling over RMB 460 million, which represents approximately 73% of the net profit for the first three quarters of 2024 [4] - The company has initiated a share buyback program using RMB 100-200 million of its own funds, with over RMB 100 million already repurchased, indicating strong operational capability and management confidence [4] Financial Performance - The company’s overall gross margin for Q1-Q3 2024 was 79.12%, a slight decrease of 0.08 percentage points, while the sales expense ratio increased by 4.93 percentage points to 57.75% due to increased marketing expenditures for new games [7] - The company has adjusted its profit forecast for 2024-2026, expecting net profits of RMB 2.6 billion, RMB 2.8 billion, and RMB 3.05 billion respectively [7] - The company’s revenue projections for 2024-2026 are RMB 18.398 billion, RMB 20.671 billion, and RMB 23.054 billion respectively, with a projected net profit margin of around 14% [7] Product Performance - The self-developed game "Time Grocery Store" launched on August 1 and has consistently ranked in the top ten of the simulation game sales charts, with estimated revenue exceeding RMB 400 million in its first week on iOS [5] - The company has over twenty products in its pipeline, with strong performance from overseas titles such as "Puzzles & Survival" and "Puzzles & Chaos" [6] - The company continues to maintain a leading position in the mini-game sector, with multiple titles entering the top 100 of the WeChat mini-game sales charts from July to September [5][6]

Investment Rating - The report maintains a "Buy" rating for the company [5][3]. Core Views - The company has launched multiple new products, including "Time Grocery Store" and "Mecha Domination," which have shown strong market performance [2][3]. - The company is enhancing its long-term operational capabilities for existing games and has a robust pipeline of over twenty self-developed and agency products [2][3]. - The company is accelerating its investment in AGI-related technologies, including edge cloud services and AI hardware, to capture innovation opportunities [3]. Financial Overview - For the first three quarters of 2024, the company achieved revenue of 13.339 billion yuan, a year-on-year increase of 10.76%, while net profit attributable to shareholders was 1.897 billion yuan, down 13.45% year-on-year [1]. - In Q3 2024, the company reported revenue of 4.107 billion yuan, a decrease of 4.09% year-on-year, and a net profit of 633 million yuan, down 34.51% year-on-year [1]. - The gross margin for Q3 2024 improved to 77.98%, with a reduction in sales and management expenses [1]. Earnings Forecast - The company is expected to generate revenues of 18.036 billion yuan, 20.020 billion yuan, and 22.623 billion yuan for 2024, 2025, and 2026, respectively, with year-on-year growth rates of 9.0%, 11.0%, and 13.0% [3][4]. - The forecasted net profit for the same years is 2.588 billion yuan, 3.036 billion yuan, and 3.620 billion yuan, with growth rates of -2.6%, 17.3%, and 19.2% [3][4].

证券代码：002555 证券简称：三七互娱 公告编号：2024-062 三七互娱网络科技集团股份有限公司 第六届董事会第二十一次会议决议公告 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 十一次会议通知于 2024 年 10 月 23 日以专人送达、电子邮件、电话方式发出，会议于 2024 年 10 月 30 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《2024 年第三季度报告》 公司全体董事确认：公司编制的《2024 年第三季度报告》真实、准确、完整地反映了 公司的经营发展情况，不存在虚假记载、误导性陈述或重大遗漏。 表决结果：同意 9 票、弃权 0 票、反对 0 票。 公司《2024 年第三季度报告》具体内容详见《中国证券报》《上海证券报》《证券时 报》《证券日 ...