Market Overview - On September 15, the gaming sector rose by 4.29% compared to the previous trading day, with Xinghui Entertainment leading the gains [1] - The Shanghai Composite Index closed at 3860.5, down 0.26%, while the Shenzhen Component Index closed at 13005.77, up 0.63% [1] Individual Stock Performance - Xinghui Entertainment (300043) closed at 6.66, up 20.00% with a trading volume of 2.3767 million shares [1] - Perfect World (002624) closed at 18.68, up 10.01% with a trading volume of 902,100 shares [1] - Other notable performers include: - Sanqi Interactive Entertainment (002555) at 23.06, up 6.41% [1] - Giant Network (002558) at 44.58, up 6.14% [1] - Glacier Network (300533) at 41.51, up 6.03% [1] Capital Flow Analysis - The gaming sector saw a net inflow of 1.972 billion yuan from institutional investors, while retail investors experienced a net outflow of 1.326 billion yuan [2] - The capital flow for key stocks includes: - Xinghui Entertainment with a net inflow of 387 million yuan from institutional investors [3] - Perfect World with a net inflow of 372 million yuan from institutional investors [3] - Sanqi Interactive Entertainment with a net inflow of 232 million yuan from institutional investors [3]

Core Viewpoint - The article discusses the performance of the stock market on September 15, highlighting mixed results among major indices and sector performances, with a focus on active sectors like gaming and pork, while noting the underperformance of certain materials sectors [2][5][10]. Market Performance - The three major indices closed with mixed results: Shanghai Composite Index at 3860.5 points, down 0.26%; Shenzhen Component Index at 13005.77 points, up 0.63%; and ChiNext Index at 3066.18 points, up 1.52% [2][3]. - The total trading volume in the Shanghai and Shenzhen markets was 2.28 trillion yuan, a decrease of 245.8 billion yuan from the previous trading day, with over 3300 stocks declining and more than 1900 stocks rising [2][3]. Sector Performance - Active sectors included pork (+2.82%), gaming (+3.65%), and automotive parts, while superconductors and retail concepts showed weak performance [5][6]. - Notable stocks in the gaming sector included Xinghui Entertainment, which hit a 20% limit up, and Perfect World, which also reached the limit up, with several other gaming stocks rising over 6% [6]. - In the pork sector, stocks like Delisi and Aonong Biological reached their daily limit, while Tiankang Biological rose over 8% [7]. Capital Flow - Main capital inflows were observed in the automotive, electric equipment, and machinery sectors, while there were outflows from electronics, communications, and defense sectors [10]. - Specific stocks with significant net inflows included BYD, Top Group, and Zhongdali De, with net inflows of 840 million yuan, 716 million yuan, and 700 million yuan respectively [11]. - Conversely, stocks like Northern Rare Earth, Wolong Electric Drive, and Zhongji Xuchuang faced substantial net outflows of 2.01 billion yuan, 1.83 billion yuan, and 1.386 billion yuan respectively [12]. Institutional Views - Citic Securities noted that the market is entering a high-level consolidation phase, with macro trading becoming a significant variable affecting market direction [14]. - Huatai Securities expressed a positive mid-term outlook for the domestic fundamentals, suggesting maintaining a high position while focusing on cost-effectiveness and industry prosperity [14].

Group 1 - The Zhongzheng Shanghai-Hong Kong-Shenzhen Game and Cultural Media Index (931580) has seen a strong increase of 1.59%, with notable gains from Perfect World (002624) up 10.01%, China Film (600977) up 8.83%, and 37 Interactive Entertainment (002555) up 7.43% [1] - The Game Media ETF (517770) rose by 1.57%, with the latest price reported at 1.29 yuan [1] - The acceleration of AI application commercialization is driven by continuous iterations of large models, with Alibaba's recent release of Qwen3-Next-80B-A3B showcasing significant innovations in training cost and efficiency [1] Group 2 - Open Source Securities highlights that the iteration of domestic large models towards stronger multimodal, reasoning, and agent performance may accelerate AI commercialization across various sectors including content creation, social media, advertising, e-commerce, education, and finance [2] - The Zhongzheng Shanghai-Hong Kong-Shenzhen Game and Cultural Media Index selects 50 listed companies involved in gaming, film, broadcasting, marketing, publishing, education, and cultural performances to reflect the overall performance of the theme in the markets [2] - As of August 29, 2025, the top ten weighted stocks in the index include Kuaishou-W (01024), Tencent Holdings (00700), and Bilibili-W (09626), collectively accounting for 54.14% of the index [2]

Core Viewpoint - The gaming sector continues to show strong performance, with significant gains in stock prices and a robust increase in game approvals, indicating a positive outlook for the industry. Group 1: Stock Performance - The gaming sector saw notable stock price increases, with companies like Xinghui Entertainment and Perfect World hitting the daily limit up, while others like 37 Interactive Entertainment and Giant Network also experienced gains [1] - The gaming ETF rose over 4%, with the Huatai-PB gaming ETF increasing by 3.5%, and both ETFs showing over 58% growth year-to-date [2][4] Group 2: Game Approvals and Market Growth - From January to August, the National Press and Publication Administration reported a 23.53% year-on-year increase in the issuance of domestic online game licenses, reflecting ongoing regulatory support for the gaming industry [6] - In August, a record number of 166 domestic games and 7 imported games were approved, contributing to a total of 1,119 game licenses issued from January to August, marking a 20.8% year-on-year increase [9][10] Group 3: Game Releases and Performance - Domestic mobile games are thriving, with the upcoming launch of "Iser" by Xindong Company generating significant anticipation, ranking 4th on Taptap's reservation list [7] - Giant Network's "Supernatural Action Group" has seen a rise in rankings and revenue following the introduction of new gameplay features, indicating strong ongoing performance [7] - Several mobile games from Century Huatong's subsidiary, including "Whiteout Survival," achieved record revenues in August, contributing to a 11% month-on-month increase in global revenue for the subsidiary [8] Group 4: Industry Outlook - Open Source Securities suggests that the gaming industry will continue to experience high demand and a favorable supply-demand dynamic, with the current valuation offering attractive investment opportunities [9] - Guoxin Securities highlights that the gaming market's revenue grew steadily in the first seven months, with a positive outlook driven by policy support, market conditions, and AI applications [9][10]

完美世界涨停，星辉娱乐涨超15%，三七互娱、巨人网络、冰川网络、电魂网络、恺英网络等跟涨。 (本文来自第一财经) ...

Core Viewpoint - The gaming sector continues to strengthen, with notable stock performances from various companies [1] Group 1: Company Performance - Xinghui Entertainment reached a 20% limit-up [1] - Perfect World previously hit a limit-up [1] - Other companies such as 37 Interactive Entertainment, Giant Network, Iceberg Network, Shenzhou Taiyue, and Kaiying Network also experienced gains [1] Group 2: ETF Performance - The gaming ETF Huatai Bairui (516770) increased by 3.83% [1] - The trading volume for the ETF was 30.11 million yuan [1]

Core Viewpoint - The gaming sector continues to strengthen, with notable stock performances from various companies and related ETFs showing positive trends [1] Group 1: Company Performance - Xinghui Entertainment reached a daily limit increase of 20% [1] - Perfect World previously hit a daily limit increase [1] - Other companies such as 37 Interactive Entertainment, Giant Network, Iceberg Network, Shenzhou Taiyue, and Kaiying Network also experienced upward movement [1] Group 2: ETF Performance - The Huatai-PB Gaming ETF (516770) rose by 3.83% [1] - The trading volume for the ETF was 30.11 million yuan [1]

（文章来源：每日经济新闻） 每经AI快讯，9月15日，游戏板块拉升，巨人网络涨超7%，完美世界、星辉娱乐涨超5%，三七互娱、 吉比特、恺英网络跟涨。 ...

9月15日，巨人网络涨5%，截至发稿，报44.10元/股，成交9.84亿元，换手率1.18%，总市值853.23亿 元。 资料显示，巨人网络集团股份有限公司位于上海市松江区中辰路655号，成立日期1997年7月22日，上市 日期2011年3月2日，公司主营业务涉及互联网游戏的研发和运营。主营业务收入构成为：移动端网络游 戏业务78.16%，电脑端网络游戏业务19.11%，其他游戏相关业务2.42%，其他(补充)0.31%。 从基金十大重仓股角度 数据显示，浦银安盛基金旗下1只基金重仓巨人网络。浦银安盛中证沪港深游戏及文化传媒ETF （517770）二季度持有股数5.33万股，占基金净值比例为3.39%，位居第七大重仓股。根据测算，今日 浮盈赚取约11.19万元。 浦银安盛中证沪港深游戏及文化传媒ETF（517770）基金经理为罗雯。 截至发稿，罗雯累计任职时间7年237天，现任基金资产总规模8.49亿元，任职期间最佳基金回报 34.14%， 任职期间最差基金回报-33.61%。 风险提示：市场有风险，投资需谨慎。本文为AI大模型自动发布，任何在本文出现的信息（包括但不 限于个股、评论、预测、图表、指标、理论、 ...

Investment Rating - Investment rating: Positive (maintained) [1] Core Insights - The gaming industry continues to thrive with high demand for new releases and strong performance in both domestic and international markets. Notable upcoming games include "Etheria: Restart" by Xindong Company and "Supernatural Action Group" by Giant Network, both expected to drive revenue growth [3][33]. - The AI sector is witnessing rapid advancements, with companies like Alibaba and ByteDance leading in AI application commercialization. The launch of new models and tools is expected to enhance efficiency and reduce costs significantly [3][30][32]. Industry Overview - The gaming sector shows robust performance, with "Wilderness Contract" topping the iOS free games chart and "Honor of Kings" leading the iOS revenue chart as of September 13, 2025 [10][14]. - In August 2025, Chinese mobile game publishers collectively generated $2.04 billion, accounting for 35.1% of the global top 100 mobile game publishers' revenue [34]. - The film industry also performed well, with the movie "Chasing the Wind" achieving a weekly box office of 1.13 billion yuan, contributing to a cumulative box office of 11.14 billion yuan [25]. Game Sector Highlights - Upcoming game releases include "Greedy Land" on September 16 and "Pocket: Douluo Continent" on September 17, with significant anticipation from the gaming community [24]. - The "Supernatural Action Group" game features a new asymmetric gameplay mode, which has been well-received since its launch on September 11, 2025 [33]. AI Sector Highlights - The AI application landscape is evolving rapidly, with significant growth in products like Zhizhu Z.AI and Alibaba's WanAI, which ranked first and fourth respectively in global growth rates for AI applications [29]. - Alibaba's new model, Qwen3-Next-80B-A3B, has shown a 90% reduction in training costs and a tenfold increase in inference efficiency, marking a significant advancement in AI technology [31].