| 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 002174 | 游族网络 | 11.66 | 5.42% | 64.57万 | | 7.41亿 | | 600892 | *ST大晟 | 4.14 | 5.08% | 10.68万 | | 4364.55万 | | 002517 | 恺英网络 | 23.74 | 4.12% | 52.68万 | | 12.58亿 | | 300052 | ST中青宝 | 11.85 | 3.04% | 9.67万 | | 1.14亿 | | 002425 | ST凯文 | 3.82 | 2.69% | 9.70万 | | 3683.39万 | | 002624 | 完美世界 | 17.02 | 2.65% | 29.14万 | | 4.95 亿 | | 300467 | 迅游科技 | 23.42 | 2.58% | 3.64万 | | 8532.19万 | | 300533 | 冰川网络 | 38.28 | 2.35% | 7.54万 | | 2 ...

2025 年 10 月 19 日 相关研究 联系人 林起贤 (8621)23297818× linqx@swsresearch.com 申万宏源研究微信服务号 小确幸悦己消费避险属性 媒《声鸣远扬》将播出 -互联网传媒周报 20251013-20251017 证券分析师 林起贤 A0230519060002 linqx@swsresearch.com 袁伟嘉 A0230519080013 yuanwj@swsresearch.com 任梦妮 A0230521100005 renmn@swsresearch.com 夏嘉励 A0230522090001 xiajl@swsresearch.com 赵航 A0230522100002 zhaohanq@swsresearch.com 黄俊儒 A0230525070008 huangir@swsresearch.com 研究支持 张淇元 A0230124080001 zhangqy@swsresearch.com 本期投资提示: 请务必仔细阅读正文之后的各项信息披露与声明 避险情绪上升,小确幸悦己消费有一定相对收益。(1) 泡泡玛特:产能爬坡,扩品类、 出海高速推进 ...

| 证券代 | 证券简称 | 主力资金净流出 | 主力资金净流出金额 | 主力资金净流出比例 | 累计涨跌幅 | | --- | --- | --- | --- | --- | --- | | 码 | | 天数 | （亿元） | （%） | （%） | | 300059 | 东方财富 | 8 | 89.96 | 9.95 | -9.86 | | 002460 | 赣锋锂业 | 6 | 36.40 | 7.55 | -8.97 | | 601727 | 上海电气 | 6 | 35.10 | 7.85 | -12.04 | | 300803 | 指南针 | 8 | 32.57 | 7.45 | -14.87 | | 002602 | ST华通 | 10 | 31.15 | 10.53 | -17.07 | | 600884 | 杉杉股份 | 7 | 25.74 | 19.31 | -22.01 | | 000977 | 浪潮信息 | 7 | 25.43 | 5.57 | -13.45 | | 300115 | 长盈精密 | 6 | 25.33 | 8.29 | -11.48 | | 603259 | 药明康德 | ...

眼下，海外市场正迅速变成多数中小厂商新游"首测+首发"的主阵地。 银河证券研报表示，2018年和2021年的两次版号政策影响，推动中国游戏出海进入了行业爆发期。越来 越多的中国游戏厂商加入到出海的大军中，游戏出海的数量和规模都实现了快速增长。目前游戏出海呈 现出头部厂商引领，中腰部厂商跟进的态势。此外，国家层面也出台了一系列政策来支持游戏产业的国 际化发展，为游戏出海提供了更加有利的政策环境。 时代财经以上线1年以内且海外双端预估收入跻身Top50的中国手游为标准，统计并发布《2025年第三 季度中国游戏出海黑马榜》（下称"《出海黑马榜》"）。 据统计，三季度共有《Kingshot》《Last Z: Survival Shooter（下称"Last Z"）》《杖剑传说》等10款游戏 入围《出海黑马榜》，数量较上半年减少1款。其中，《杖剑传说》《Lands of Jail》《Destiny: Rising》 《银与绯》首次入围。 作者 | 张照 编辑 | 罗丽娟 编者按：为展现中国游戏新产品出海的发展与成效，时代财经推出"中国游戏出海黑马榜"系列，从国产 游戏出海的角度出发，挖掘为中国游戏行业出海树立标杆的热门 ...

证券之星消息，10月16日游戏板块较上一交易日下跌1.29%，名臣健康领跌。当日上证指数报收于 3916.23，上涨0.1%。深证成指报收于13086.41，下跌0.25%。游戏板块个股涨跌见下表： 从资金流向上来看，当日游戏板块主力资金净流出8.33亿元，游资资金净流入2.05亿元，散户资金净流 入6.28亿元。游戏板块个股资金流向见下表： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 | 代码 | 名称 | 收盘价 | 涨跌幅 | 成交量(手) | 成交额(元) | | | --- | --- | --- | --- | --- | --- | --- | | 600892 | *ST大晟 | 4.10 | 0.99% | 14.85万 | 6074.51万 | | | 002425 | ST凯文 | 3.84 | 0.26% | 8.69万 | 3347.60万 | | | 300052 | ST中青宝 | 11.37 | 0.18% | 5.33万 | 6086.36万 | | | 002602 | ST华通 | 19.18 ...

Investment Rating - The industry investment rating is "Overweight" indicating a positive outlook for the sector [9]. Core Insights - The report highlights strong performance in the gaming and cloud computing sectors, with several companies expected to achieve significant year-on-year revenue growth in Q3 2025 [3][4]. - The gaming industry is anticipated to maintain high growth due to relaxed regulations and innovative game categories, with a total of 1,195 game approvals in the first nine months of 2025, a 25% increase year-on-year [3]. - Companies like Tencent and Giant Network are expected to drive growth through new product launches and enhanced operational capabilities [3][4]. Summary by Sections Gaming Sector - Companies such as Giant Network, Century Huatong, and G-bits are projected to experience high growth driven by product launches [3]. - The demand from younger consumers and the potential of AI to create new gaming experiences are key growth drivers [3]. - The report emphasizes the importance of differentiated competition rather than price wars in the gaming market [3]. Cloud Computing and Internet Media - Cloud computing revenues are accelerating, with major players like Tencent and Alibaba investing heavily in AI and cloud services [3][5]. - The report notes that the competition in instant retail is expected to peak in Q3 2025, which will significantly impact profitability expectations [3]. - Companies like Kuaishou are positioned to leverage AI to enhance content and advertising efficiency [3]. Other Industries - The long video and drama sectors are showing signs of recovery, with new policies expected to stimulate growth [3]. - The advertising market is experiencing structural growth, particularly in entertainment and technology sectors [3]. - Companies such as Kuaishou and Bilibili are recovering, while others like Mango Super Media and Focus Media are facing challenges in Q3 [3][4].

Group 1 - The core point of the article is that nine Chinese gaming companies have made it to the top 50 mobile game developers list for 2025 published by PocketGamer, highlighting their significant presence in the global gaming market [1][3]. - The companies listed include Century Games (1st), Tencent (10th), miHoYo (15th), FunPlus (24th), Lilith (27th), Lemon Legend (16th), Paper Games (18th), Haipi (19th), and NetEase (22nd) [1][3][4]. - PocketGamer emphasizes the importance of innovation and the ability of companies to redefine the industry with new hits, especially those that continue to succeed despite challenges [1].

Industry Trends - The September mobile game overseas revenue ranking was released, with Point Cloud Interactive's "Whiteout Survival" and "Kingshot" taking the top two spots [2] - Tencent and Ubisoft jointly established a new studio, Vantage Studios, which will be responsible for the development and operation of core IPs such as "Assassin's Creed" [3] - Century Games, a subsidiary of Century Huatong, rose from 7th to 1st place in the global Top 50 mobile game companies ranking [4] Company Developments - The actual controller and chairman of Dianhun Network, Hu Jianping, completed a reduction of 4.8692 million shares, cashing out 101 million yuan, with a total reduction exceeding 200 million yuan in six months [5][6] - Tencent subsidiary Funcom announced a round of layoffs and restructuring as it transitions from game development to long-term operations [7] - NetEase's MMO studio, Fantastic Pixel Castle, led by veteran producer Greg Street, is facing significant operational crises and potential layoffs [10] Compliance and Regulatory Issues - Discord confirmed that approximately 70,000 users' identity information and photos may have been leaked due to a hacker attack on a third-party supplier [11] Mergers and Acquisitions - EA announced it will be acquired in an all-cash transaction by a consortium led by Saudi Arabia's Public Investment Fund, with a total price of approximately 55 billion USD [12] - Microsoft reaffirmed its commitment to the development of the next-generation Xbox console amid rumors of cancellation [13] Esports Highlights - LCK team BFX won the Asian Invitational Championship by defeating DK with a score of 3:2 [14] - The 2026 Esports World Cup announced its main event projects, including popular titles like League of Legends and DOTA2 [15]

Investment Rating - Investment rating: Positive (maintained) [1] Core Insights - The report emphasizes the continuous iteration and performance improvement of AI models, with significant policy support enhancing the deployment of AI applications in various sectors, particularly in government and industrial design [3][30][33] - The gaming sector shows strong performance, with leading titles like "Kingshot" and "Whiteout Survival" achieving substantial revenue growth, indicating a favorable investment environment in the gaming industry [3][30][32] Summary by Sections Industry Overview - The report highlights that "Delta Operation" ranked first in the iOS free game chart in mainland China, while "Honor of Kings" topped the iOS revenue chart [9][25] - The film "Volunteer Army: Blood and Peace" achieved the highest box office for the week, grossing 1.93 billion [25] AI Applications - Recent advancements in AI include Tencent's release of the Tequila algorithm, which achieved state-of-the-art performance with a 1.58Bit quantization [33] - The report notes the release of a new AI model by Kuaishou, which set a record in the open-source model domain with a performance score of 74.6% [35] - The central government has issued guidelines for the deployment of AI models in government sectors, emphasizing the need for practical applications and data governance [30][32] Gaming Sector - The report cites that in September 2025, Chinese mobile game publishers collectively earned $1.95 billion, accounting for 36.1% of the global top 100 mobile game publishers' revenue [32] - Tencent's games, including "Delta Operation" and "Honor of Kings," dominated the revenue charts, showcasing the company's strong market position [32][33] Media and Entertainment - The report indicates that the publishing sector performed well, while the film sector showed weaker performance during the specified period [4][28] - The streaming series "I Promise You Shining" maintained its top position in viewership ratings [28][29]

近日，全球知名游戏媒体PocketGamer.biz发布2025年手游厂商50强榜单。9家中国游戏企业在列，分别 为：世纪华通/点点互动（第1）、腾讯（第10）、米哈游（第15）、柠檬微趣（第16）、叠纸（第 18）、海彼（第19）、网易（第22）、FunPlus（第24）、莉莉丝（第27）。（36氪） ...