Macro Dynamics - The People's Bank of China announced that the weighted average interest rate for newly issued commercial personal housing loans will be 3.06% in Q4 2025 [2][20] - The State Council issued a work plan to accelerate the cultivation of new growth points in service consumption, focusing on optimizing service supply and enhancing consumer experience [3][21] Company Dynamics - The Beijing humanoid robot innovation center's pilot verification platform has officially launched, with an expected annual production capacity of 5,000 units [4][21] - Kunshan established an artificial intelligence industry fund with a total scale of 5 billion yuan, aiming to support local AI enterprises and ecosystem development [5][21] - Zhongtai Securities expects a net profit increase of 40% to 60% for 2025, with significant growth in wealth management and asset management [6][22] - The global largest sovereign fund, Norway's sovereign wealth fund, reported a 15.1% annual return for 2025, with stock investment returns at 19.3% [6][22] - Chao Hong Ji indicated that rising gold prices may theoretically suppress consumer demand, while also potentially stimulating jewelry demand due to investment value [11][26] - Shengyi Technology forecasts a net profit increase of 87% to 98% for 2025, driven by rising sales of copper-clad laminates [12][26] - Century Huatong anticipates a net profit increase of 357.47% to 475.34% for 2025, with continuous revenue growth over the past 12 quarters [13][27] - Hailanxin expects a net profit increase of 387.47% to 631.2% for 2025, supported by advancements in autonomous technology and key project developments [14][28] - AstraZeneca plans to invest over 100 billion yuan (approximately 15 billion USD) in China by 2030 to expand its pharmaceutical production and R&D [15][29] - Tianfu Communication completed a share reduction plan by a board member, with no impact on company governance or control [16][29] - China Gold reported that its stock trading is experiencing excessive market sentiment, which may lead to short-term price corrections [17][30] - Western Gold issued a risk warning regarding the significant price increase of gold products in the market [18][30] - Zhaojin Gold highlighted potential risks associated with its overseas mining projects and the aging of mining facilities [19][30]

★ 宏观动态 ★ 央行：2025年第四季度全国新发放商业性个人住房贷款加权平均利率为3.06% 据央行消息，2025年第四季度全国新发放商业性个人住房贷款加权平均利率为3.06%。 国务院办公厅印发《加快培育服务消费新增长点工作方案》 国务院办公厅日前印发《加快培育服务消费新增长点工作方案》（以下简称《工作方案》），旨在优化和扩大 服务供给，促进服务消费提质惠民，为经济高质量发展提供有力支撑。《工作方案》提出3方面支持政策。一 是聚焦交通服务、家政服务、网络视听服务、旅居服务、汽车后市场服务、入境消费等重点领域，从优化服务 供给、推进先行先试、创新消费场景、加强人才培养等方面发力，激发发展活力。二是聚焦演出服务、体育赛 事服务、情绪式体验式服务等潜力领域，从健全激励机制、优化安全管理、培育优质品牌、建设平台载体等方 面着手，培育发展动能。三是通过健全标准体系、加强信用建设、强化财政金融支持等，加强对培育服务消费 新增长点的支持保障。《工作方案》要求各地区、各有关部门加强政策设计，创新支持举措，优化服务消费环 境，根据需要制定出台具体服务消费领域支持政策。 北京首个人形机器人中试验证平台正式启动，预计年产能50 ...

Core Viewpoint - Century Huatong Group Co., Ltd. expects significant growth in 2025, with net profit projected to increase by 357.47% to 475.34% year-on-year, driven by strong performance in both domestic and international gaming sectors [1] Financial Performance - The company forecasts a consolidated revenue of approximately 38 billion yuan in 2025, representing a year-on-year growth of about 68% [1] - Expected net profit attributable to shareholders ranges from 5.55 billion to 6.98 billion yuan, marking a year-on-year increase of 357% to 475% [1] - The projected net profit after deducting non-recurring items is estimated to be between 5.80 billion and 6.33 billion yuan, reflecting a growth of 253% to 285% [1] - Operating cash flow is anticipated to grow by over 70% year-on-year [1] Game Performance - Century Huatong's overseas gaming business has excelled, with the game "Whiteout Survival" entering the global mobile game revenue club of 1 billion USD, ranking fourth globally and first in China for overseas revenue [2] - Another game, "Kingshot," has risen to the 14th position in global mobile game revenue and third in China's overseas revenue [2] - The company is the only one in the top 10 global mobile game rankings to have two games listed [2] - The casual gaming segment has also seen success, with "Tasty Travels: Merge Game" entering the top five in the casual merge game category and the top 15 in China's overseas mobile game rankings [2] Domestic Business Development - The domestic business has shown steady progress, with the subsidiary Shengqu Games achieving over 30% year-on-year growth [2] - Notable game launches include "Legend New Hundred District - Alliance Heavy Weapon," which entered the iOS free game top 10 on its first day, and "Dragon Valley World," which broke 10 million pre-registrations and topped the iOS free game chart on launch day [2] - The strategy of integrating classic PC game IPs into mobile formats is highlighted as a key focus for 2025 [2] Future Outlook - For 2026, the company aims to consolidate its advantages in the SLG category while focusing on casual games as a new growth driver [4] - The company plans to enhance the refined operation of classic products and concentrate resources on key new projects like "Survival of the Fittest" [4] - In response to AI advancements, the company is accelerating the development of its self-research AI platform to improve operational efficiency [4] - The company has repurchased over 1.3 billion yuan worth of shares in the past two months, demonstrating confidence in future growth [4]

格隆汇1月29日丨世纪华通（维权）(002602.SZ)公布，预计2025年归属于上市公司股东的净利润555,000 万元-698,000万元，比上年同期增长357.47%-475.34%，扣除非经常性损益后的净利润580,000万 元-633,000万元，比上年同期增长252.97%-285.22%。 本报告期内，公司收入、利润、现金流均实现同比大幅增长，其中公司合并营业收入约380亿，同比增 长约68%；公司归母净利润预估区间为55.5亿至69.8亿，同比增长预估区间为357%至475%；公司扣非归 母净利润预估区间为58.0亿至63.3亿，同比增长预估区间为253%至285%，经营性现金流同比增长预估 超70%。公司自2023年开始，已实现收入连续12个季度环比增长、归母净利润连续两年同比增长翻倍以 上，不断创下公司的历史新高，业绩增长的势头在全球游戏行业中"独树一帜"。 ...

若论2025年中国游戏厂商出海的最热门赛道，休闲游戏无疑稳居榜首。其中，世纪华通旗下的《Whiteout Survival》表现尤为亮眼，已连续24个月蝉联中国 出海手游收入榜首位，成为该赛道的标杆之作。在头部产品强势领跑的行业格局下，其他游戏企业是否仍存在突围与发展的机会？ "2026年休闲品类的中小厂商仍有机会，现在做得最好的厂商基本都是创业公司，突围关键仍在于反应速度。小厂尝试新创意的阻碍更小、落地更易、迭代 更快，成功概率更高。游戏行业从未有企业能垄断全局，即便腾讯这样的头部厂商也有自身品类偏好，无法覆盖所有赛道。"1月27日下午，AppsFlyer大中 华区总经理王玮在《2026游戏App营销现状报告》媒体解读会上对《每日经济新闻》记者如是说。 图片来源：企业供图 "红利时代中小厂商的机会更多，但即便在当前竞争激烈的环境下，中小厂商依然能凭借更快的动作、更灵活的迭代，在产品形态、玩法或变现模式上实现 创新。大厂虽然可以追赶，但很难垄断这一领域。"王玮表示，看好游戏行业的持续创新活力，未来仍会有新玩家入局、老玩家转型，行业多样性将持续保 持。 多端布局成出海趋势，跨端数据打通是关键 眼下，多端布局已成 ...

Core Viewpoint - Century Huatong has announced a significant increase in its projected performance for 2025, highlighting strong growth in revenue and net profit, particularly in the gaming sector, driven by successful product launches and a robust operational strategy [1][3]. Financial Performance - The company expects consolidated revenue of approximately 38 billion yuan for 2025, representing a year-on-year increase of about 68% [1][3]. - Projected net profit attributable to shareholders is estimated to be between 5.55 billion and 6.98 billion yuan, with a year-on-year growth forecast of 357% to 475% [1][3]. - The expected net profit after deducting non-recurring items is projected to be between 5.8 billion and 6.33 billion yuan, with a year-on-year growth estimate of 253% to 285% [1][3]. - Operating cash flow is anticipated to grow by over 70% year-on-year [1][3]. Growth Trends - Since 2023, the company has achieved a continuous increase in revenue for 12 consecutive quarters and has doubled its net profit year-on-year for two years, setting historical records [1][3]. - The company’s growth momentum is described as "unique" within the global gaming industry [1][3]. Product Performance - The flagship product, "Whiteout Survival," has reached new heights after three years, entering the global mobile game "billion-dollar club" and ranking fourth in global mobile game revenue for 2025, as well as first in China's mobile game overseas revenue [1][3]. - Another product, "Kingshot," has climbed to the 14th position in the global mobile game revenue ranking and third in China's mobile game overseas revenue for 2025 [1][3]. Breakthroughs in Game Categories - Beyond the SLG category, the company has made significant progress in casual games, with "Tasty Travels: Merge Game" entering the top five in the casual merge game category and the top 15 in China's mobile game overseas ranking [2][4]. - Other self-developed products, such as "Truck Star" and "High Seas Hero," have also shown steady growth [2][4]. - The product "Endless Winter" from the subsidiary Diandian Interactive has consistently ranked among the top five in the iOS game bestseller list, demonstrating strong vitality [2][4]. - The newly launched product "Bengben Kingdom" in August 2025 is steadily climbing in rankings [2][4].

Core Viewpoint - Century Huatong expects a net profit attributable to shareholders of the listed company to be between 5.55 billion to 6.98 billion yuan in 2025, representing a year-on-year growth of 357.47% to 475.34% [1] Group 1: Performance Drivers - The significant increase in performance is attributed to the success of overseas business with hit products such as "Whiteout Survival" and "Kingshot" [1] - The domestic SLG leader "Endless Winter" continues to grow, contributing to overall revenue and profit increases [1] - Classic IP new products from Shengqu Games have revitalized their performance, leading to substantial growth in overall income, profit, and cash flow [1]

Core Viewpoint - Century Huatong (002602) expects a significant increase in net profit attributable to shareholders, projecting between 5.55 billion to 6.98 billion yuan for 2025, representing a year-on-year growth of 357.47% to 475.34% [1] Group 1: Performance Drivers - The surge in performance is attributed to the success of overseas products, with hits like "Whiteout Survival" and "Kingshot" showing strong results [1] - The domestic SLG leader "Endless Winter" continues to grow, contributing to overall revenue and profit increases [1] - Classic IP new products from Shengqu Games have revitalized their performance, leading to substantial growth in revenue, profit, and cash flow [1]

Core Viewpoint - Century Huatong (002602.SZ) expects a net profit attributable to shareholders of 5.55 billion to 6.98 billion yuan for 2025, representing a year-on-year growth of 357.47% to 475.34% [1] Group 1: Performance Drivers - The significant increase in performance is attributed to the success of overseas products, particularly "Whiteout Survival" and "Kingshot," which have shown strong market performance [1] - The domestic SLG leader, "Endless Winter," continues to grow, contributing to overall revenue and profit increases [1] - Classic IP new products from Shengqu Games have revitalized their performance, leading to substantial growth in revenue, profit, and cash flow [1]

Financial Performance - The company expects a net profit of between ¥5.55 billion and ¥6.98 billion for 2025, representing a year-on-year growth of approximately 357.47% to 475.34% compared to ¥1.21 billion in the previous year[2]. - The estimated net profit after deducting non-recurring gains and losses is projected to be between ¥5.8 billion and ¥6.33 billion, indicating a year-on-year increase of approximately 252.97% to 285.22% from ¥1.64 billion last year[2]. - The company's consolidated operating revenue is approximately ¥38 billion, reflecting a year-on-year growth of about 68%[4]. - The operating cash flow is expected to grow by over 70% year-on-year, indicating strong financial health[4]. - The company has experienced continuous quarter-on-quarter revenue growth for 12 consecutive quarters and has doubled its net profit year-on-year for two consecutive years[4]. Market Performance - Century Games has achieved significant success in the overseas market, with two top products in the mobile gaming sector, including the hit game "Whiteout Survival," which ranks first in the Chinese mobile game export list[5]. - The new product "Kingshot" has also shown remarkable growth, ranking third in the Chinese mobile game export list, contributing to the company's position as the only company with two games in the top 10 global mobile game rankings for 2025[5]. - The domestic market continues to thrive with the product "Endless Winter" maintaining rapid revenue growth, solidifying its position as a leading product in the SLG category[6]. - The company has successfully implemented a "revival" strategy, with new IP mobile games achieving good market performance and overall profit growth exceeding 30% year-on-year[6]. Investor Advisory - Investors are advised to exercise caution as the performance forecast data has not been audited and the final results will be detailed in the 2025 annual report[7].