Core Viewpoint - The Chinese gaming industry, while a global leader, faces three critical contradictions that need to be balanced for higher quality development [1]. Group 1: Balancing Performance and Value - The gaming industry has regained growth momentum after adjustments, but its value is not fully recognized by society, leading to lower valuations compared to the "new consumption" sector [3]. - Bridging the value gap requires high-quality innovative products, including the release of premium titles and a proactive approach to market exploration [3]. - The industry must actively demonstrate its technological contributions and build communication bridges to convey its positive value, exemplified by the "Dragon Cup" competition initiated by Century Huatong [3]. Group 2: Balancing Emotional Value and Brand Value - The current trend favors "emotional value," with gaming serving as an excellent medium for entertainment and stress relief, but it must evolve into sustainable "brand value" with cultural depth and social recognition [4]. - Successful gaming brands in Japan, like Doraemon and Mario, symbolize cultural strength, while China still has a long way to go in establishing culturally impactful gaming brands globally [4]. - To empower emotional and brand value, the industry must protect intellectual property and integrate national values into product culture [4]. Group 3: Balancing Simple Answers and Complex Questions - The emergence of AI, such as ChatGPT, has made complex problems easier to solve, but the ability to pose high-level questions and possess scientific thinking is becoming a rare asset [5]. - Historical productivity revolutions lead to "human-machine collaboration," focusing on how humans can work with AI, with Century Huatong enhancing development efficiency through AI tools [5]. - Maintaining content originality is crucial, as AI's tendency to average content may reshape human thinking; thus, supporting incremental content creation is essential [5].

世纪华通董事会秘书、副总裁黄怡：为什么出海游戏做得这么好？第一，充分了解国外客户的消费习惯 和偏好。第二，要抓住国外游戏行业的变化趋势。第三，要更加的考验团队的专注度，并且找到自己独 特的定位，一直坚持下去。 0:00 ...

21世纪经济报道记者雷晨 北京报道 尽管游戏业务风光无限，但历史问题与潜在风险，始终考验着这家"游戏之王"的成色。 因此，市场在追捧其增长故事的同时，或许更该冷静审视：这场逆袭能否持续？ "游戏之王"逆袭神话 ST华通的股价表现堪称资本市场的"逆袭神话"。 公司成立于2005年，最初以汽车零部件业务起家，2014年开始向互联网游戏产业转型。2015年，公司以 29亿元的价格收购了天游软件和七酷网络。2017年，公司斥资130亿元收购了点点互动，后者在海外休 闲游戏市场成绩斐然。 凭借一系列并购，ST华通迅速在游戏领域崭露头角，市值一度超过千亿。 过去一年，ST华通（002602）（002602.SZ）以超300%的股价涨幅成为A股市场的焦点。即便顶 着"ST"的帽子，其市值仍一度突破千亿，登顶"游戏之王"宝座。 7月30日，一场股权拍卖将ST华通再次推向风口浪尖——知名"牛散"魏巍以2.79亿元高价竞得公司 2261.73万股股份，溢价12%，显示出对其未来成长空间的看好。 ST华通的崛起堪称资本市场的"逆袭神话"。该公司从汽车零部件转型游戏产业，通过大手笔并购天游 软件、七酷网络及点点互动，公司迅速跻身行业 ...

Core Viewpoint - The Chinese gaming industry is entering a rapid growth phase, with domestic games gaining recognition on international platforms, as highlighted during the ChinaJoy and CDEC events in Shanghai [1] Group 1: Industry Growth and Challenges - The gaming industry needs to balance the contradiction between "performance high ground" and "value low ground," as current valuations in the capital market are significantly lower than those in the "new consumption" sector [1] - The gaming sector is a key driver for technologies like artificial intelligence and cloud computing, but the positive value of this contribution requires broader social recognition [3] Group 2: Emotional and Brand Value - There is a need to balance "emotional value" and "brand value," as the gaming industry must elevate emotional experiences into lasting cultural and social recognition [4] - The example of Japanese gaming brands illustrates the potential for cultural penetration, while Chinese games still have a long way to go in establishing globally recognized cultural symbols [4] Group 3: Human-Machine Collaboration - The emergence of AI necessitates a rethinking of human-machine collaboration, focusing on creativity and the ability to pose complex questions rather than just basic responses [5] - The gaming industry should enhance development efficiency through AI tools while maintaining sustainable originality in content creation [5]

Core Viewpoint - Wei Wei, a well-known capital "hunter," successfully acquired approximately 22.62 million shares of ST Huatuo (002602) for 279 million yuan through judicial auction, indicating a strategic investment approach in the current market environment [1][6][9]. Group 1: Auction Details - The auction for ST Huatuo shares involved 31 rounds of bidding, with a starting price of 249 million yuan and a final price of 279 million yuan, reflecting a premium of 12.04% over the starting price [6][7]. - The auction attracted nine participants, with Wei Wei showing a clear intent to win by placing the first bid at the starting price [6][7]. - The final price per share was approximately 12.35 yuan, slightly below the closing price of 12.75 yuan on the auction day [1][9]. Group 2: Company Performance - ST Huatuo has shown significant stock performance, with a price increase of over 300% in the past year and a cumulative increase of nearly 150% this year, positioning it among the top performers in the A-share market [9]. - The company aims to become a leading global digital technology firm, focusing on internet gaming, AI cloud data, and automotive parts manufacturing [11]. - For the first half of 2025, ST Huatuo expects a net profit of 2.4 billion to 3 billion yuan, representing a year-on-year growth of 107.20% to 159.00% [12]. Group 3: Recent Acquisitions by Wei Wei - A month prior to the ST Huatuo acquisition, Wei Wei purchased 13 million shares of Shanshan Co. at 8.42 yuan per share for a total of 109 million yuan, currently showing a profit of approximately 20% [4][15]. - Wei Wei is recognized for his strategic investments in various companies through judicial auctions and private placements, with a notable presence in the market [15][16]. - As of the first quarter of 2025, Wei Wei's publicly held shares are valued at around 2 billion yuan, involving 20 A-share listed companies [17].

平衡二：平衡"情绪价值"和"品牌价值"的冲撞 7月31日，以"聚新质动能，引全球共振"为主题的第22届中国国际数字娱乐产业大会（CDEC）上海举行。作为行业头部公司，世纪华通总裁谢斐受邀 参会并发表了题为《在平衡中领跑：有关中国游戏新质发展的思考》的主题演讲。她指出，中国游戏行业虽然已成为全球游戏领域的"领跑者"，但也面临三 大亟需平衡的矛盾，需要在平衡中实现更高质量的发展。以下是她的主要观点概述： 世纪华通总裁谢斐 平衡一：平衡"业绩高地"和"价值洼地"的矛盾 近年间，游戏行业在经历调整后重拾增长动能，但其行业价值尚未获社会充分的认可，最直接的反应就是在资本市场中，游戏公司估值远低于"新消 费"领域，形成"价值洼地"。此外，游戏行业也已成为人工智能、云计算等技术的关键推动力，并助力国内芯片产业发展，但这方面的正向价值也亟待更广 泛的社会认同。 弥合价值落差的核心在于锻造高品质创新产品力：一方面行业应继续推出精品大作，另一方面也应当具备开创而非跟随的意识，像《无尽冬日》那样去 开拓蓝海市场。此外，行业需主动展现技术推动作用，搭建更坚实的沟通桥梁，传递游戏行业的正向价值。今年，世纪华通发起"数龙杯"大赛也是这样 ...

【环球网科技综合报道】7月31日，以"聚新质动能，引全球共振"为主题的第22届中国国际数字娱乐产业大会（CDEC）上海举行。世纪华通总裁谢斐受邀 参会并发表了题为《在平衡中领跑：有关中国游戏新质发展的思考》的主题演讲。她指出，中国游戏行业虽然已成为全球游戏领域的"领跑者"，但也面临三 大亟需平衡的矛盾，需要在平衡中实现更高质量的发展。 谢斐指出，近年间，游戏行业在经历调整后重拾增长动能，但其行业价值尚未获社会充分的认可，最直接的反应就是在资本市场中，游戏公司估值远低 于"新消费"领域，形成"价值洼地"。此外，游戏行业也已成为人工智能、云计算等技术的关键推动力，并助力国内芯片产业发展，但这方面的正向价值也亟 待更广泛的社会认同。 在她看来，弥合价值落差的核心在于锻造高品质创新产品力：一方面行业应继续推出精品大作，另一方面也应当具备开创而非跟随的意识，像《无尽冬日》 那样去开拓蓝海市场。此外，行业需主动展现技术推动作用，搭建更坚实的沟通桥梁，传递游戏行业的正向价值。今年，世纪华通发起"数龙杯"大赛也是这 样的初衷，以拉近与社会距离，平衡业绩与价值。 平衡 " 情绪价值 " 和 " 品牌价值 " 的冲撞 "Chat ...

8月1日至4日，第二十二届ChinaJoy将在上海新国际博览中心盛大启幕。世纪华通总裁谢斐在CDEC高峰 论坛发表演讲，她表示，游戏行业高增长，但社会价值被低估。《黑神话悟空》证明了持续锻造高品质 大作，向世界证明中国游戏实力。 "对世纪华通来说，对内，将核心技术服务更多领域，让游戏科技成为新质生产力。对外，搭建更坚实 的沟通桥梁，传递游戏行业的正向价值，主动展现对前沿技术的核心推动力"她表示。 "AI时代更为关键的三大能力。是能够提出高水平的问题，掌握科学思维方式，拥有跨界文化素养。"谢 斐表示。（罗宁） 责任编辑：江钰涵 谢斐认为，类似Labubu、黑神话悟空等IP走出国内，中国游戏影响力逐渐走向全球，品牌价值的重要性 愈发凸显。品牌价值的根基在于知识产权的守护，而品牌价值的认同源于广泛社会的共鸣。 她进一步认为，AI时代的当下，正重构人机协作的效率工作范式，一方面，人机协作，"能做"仅仅是基 本面的反馈，"敢想"和"会想"才能赢得核心竞争力。另一方面，保持内容可持续再生的原创力，让技术 释放的智能服务社会的生产和生活，让机器的智能最终激发人类的智慧和善意。 ...

在黄怡看来，点点互动对产品的专注度，同样是其在海外取得增长的关键因素。"国外不太能挣短期的 钱。这就需要企业专注自己的品类，并且找到自己独特的定位，一直坚持下去。" 点点互动是世纪华通旗下子公司，目前已跻身游戏出海榜前列。黄怡表示，世纪华通上半年收入170亿 元左右，有大约100亿元来自出海游戏。其中《Whiteout Survival》和《Kingshot》表现突出。 Sensor Tower商店情报平台数据显示，2025年6月中国手游产品海外市场收入榜单中，《Whiteout Survival》延续强劲吸金表现，稳坐冠军宝座，全球累计收入突破28亿美元。《Kingshot》表现同样亮 眼，继5月收入翻倍后，6月再度增长56%。 黄怡表示，点点互动在海外市场的拓展经验表明，首先要充分了解国外客户的消费习惯和偏好。国外的 游戏第一大品类是消除类等休闲游戏为主，这与国内以射击游戏、MOBA游戏（多人在线战术竞技游 戏）为主的市场环境并不相同。点点互动在国外的成功也是抓住了休闲类游戏和传统SLG游戏（策略类 游戏）融合契机。 中经记者 李哲 上海报道 "坚持长期主义，才能做长期的事情。"黄怡认为，出海首先要选择一 ...

Core Viewpoint - The auction for ST Huaton shares was highly competitive, with Wei Wei winning the bid at 279 million yuan, reflecting a 12% premium over the starting price [2]. Group 1: Stock Auction Details - Shao Heng held 22.6173 million shares of ST Huaton, approximately 0.3% of the total share capital [2]. - The final bid price was about 12.35 yuan per share after 31 rounds of bidding and 24 extensions [2]. - The auction concluded with a total transaction value of 2.79 billion yuan, which is 12% higher than the starting price of 2.49 billion yuan [2]. Group 2: Company Performance and Market Position - As of the latest trading session, ST Huaton's stock price was 12.84 yuan per share, with a market capitalization of approximately 957 billion yuan [5]. - The stock has increased over 300% in the past year, with a year-to-date increase of 149.81% [5]. - ST Huaton was referred to as the "king of games" in the A-share market, with a market cap nearly 500 billion yuan higher than its closest competitor, Giant Network [5]. Group 3: Financial Performance - ST Huaton's half-year performance forecast for 2025 estimates revenue of about 17 billion yuan, a year-on-year increase of approximately 83.27% [5]. - The expected net profit attributable to shareholders is between 2.4 billion and 3 billion yuan, representing a growth of 107.20% to 159.00% [5]. - The growth is attributed to the strong performance of its subsidiary, Diandian Interactive, and effective cost reduction measures [5]. Group 4: Key Products and Market Strategy - Diandian Interactive's flagship products, "Endless Winter" and "Kingshot," have shown robust growth, significantly contributing to ST Huaton's performance [6]. - "Whiteout Survival" became the top-grossing mobile game in China for June, while "Kingshot" saw a 56% revenue increase in the same month [6]. - Diandian Interactive ranked second in the revenue of Chinese mobile game publishers for the first half of 2025, only behind Tencent [6]. Group 5: Shareholder Composition - Notable shareholders include Linzhi Tencent Technology Co., Ltd., holding 10% of shares, and Hainan Cavalry Network Technology Co., Ltd., with 1.35% [7]. - Linzhi Tencent is an investment platform under Tencent Group, indicating strategic interest from major industry players [7].