| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-041 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | | | 上海姚记科技股份有限公司 | | 第六届董事会第二十次会议决议公告 特此公告。 上海姚记科技股份有限公司董事会 2025 年 6 月 5 日 公司 2024 年度权益分派已实施完毕，现根据《上市公司股权激励管理办法》 公司《2022 年股权激励计划（草案）》的相关规定以及公司 2022 年第一次临时 股东大会的授权，董事会对 2022 年股权激励计划股票期权行权价格和限制性股 票回购价格进行了调整，行权价格由每股 13.76 元调整为 13.26 元，回购价格由 每股 6.31 元调整为每股 5.81 元。 董事梁美锋女士和卢聪女士作为激励对象对本议案回避表决。具体内容详见 巨潮资讯网（www.cninfo.com.cn）及公司指定信息披露媒体《证券时报》《中国 证券报》《证券日报》同日披露的《关于调整 2022 年股权激励计划股票期权行权 价格和限制性股票回购价格的公告》。 二、备查文件 1、公司第六届董事会第二十 ...

Investment Rating - The report maintains a "Positive" investment rating for the gaming industry [7] Core Insights - The Chinese gaming market continues to experience rapid growth, with a market size of 27.351 billion yuan in April 2025, reflecting a year-on-year increase of 21.93% and a month-on-month increase of 2.47% [2][4] - Long-standing products such as "Honor of Kings," "Naruto," and "Honkai: Star Rail" have shown stable growth, contributing to the industry's high growth rate [2] - The overseas performance of self-developed games is impressive, with a 9.62% year-on-year increase in actual sales revenue from overseas markets, amounting to 1.554 billion USD in April 2025 [9] - The new game product cycle for listed gaming companies is underway, with several new titles performing well in May, indicating a positive outlook for the gaming sector [9] - The gaming sector's valuation remains relatively low, with potential for upward elasticity, suggesting continued investment opportunities in the gaming sector [9] Summary by Sections Market Performance - The Chinese gaming market size reached 27.351 billion yuan in April 2025, with mobile gaming accounting for 20.424 billion yuan, showing a year-on-year growth of 28.41% [9] - Key growth drivers include seasonal events and updates for existing games, which have significantly boosted their revenue [9] Overseas Expansion - The overseas market for self-developed games generated 1.554 billion USD in April 2025, with notable contributions from long-term products [9] - "Honkai: Star Rail" and "Kingshot" ranked among the top revenue-generating games in overseas markets [9] New Game Launches - Several new games from listed companies have shown promising performance, with titles like "Staff Sword Legend" and "Supernatural Action Group" gaining traction in the market [9] - Major gaming companies have a rich pipeline of upcoming products, indicating a robust new game cycle [9] Valuation and Investment Opportunities - The gaming sector's valuation is positioned for potential recovery, driven by stable policies and the introduction of new games [9] - Recommended stocks for investment include Giant Network, Kaiying Network, G-bits, Perfect World, and Yaoji Technology [9]

上海姚记科技股份有限公司 关于姚记转债恢复转股的公告 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。 | 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-039 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | 4、恢复转股时间：2025年6月5日 上海姚记科技股份有限公司（以下简称"公司"）于近期实施公司2024年度权益分 派，根据《公司向不特定对象发行可转换公司债券募集说明书》中"转股价格的调整 方式及计算方式"条款的规定，公司可转换公司债券（债券简称：姚记转债；债券代 码：127104）于2025年5月23日至2025年6月4日暂停转股。具体内容详见公司2025年5 月23日在巨潮资讯网披露的《关于实施权益分派期间姚记转债暂停转股的公告》（公 告编号：2025-036）。 根据相关规定，姚记转债将于本次权益分派股权登记日后的第一个交易日（即 2025年6月5日）恢复转股，敬请公司可转换公司债券持有人注意。 特此公告。 上海姚记科技股份有限公司董事会 2025年5月30日 特别提 ...

New Stock Issuance - New stock issuance for Jiao Da Tie Fa at an issuance price of 8.81[1] - ST Li Fang and United Chemical have recent announcements dated May 14 and May 23 respectively[1] - Multiple companies including Zhongzhou Special Materials and San Sheng Guo Jian have announcements on May 23[1] Market Alerts - Significant abnormal fluctuations reported for Nanjing Port and Li Jun Co. on May 23[1] - ST Er Ya and ST Jin Hong have recent announcements regarding market conditions[1] - Companies like Hainan Development and ST Haihua have reported abnormal trading activities[1] Trading Updates - Trading updates for various companies including ST Ya Zhen and ST Jian Gang on May 27[1] - Multiple companies have links to their announcements for further details on trading activities[1] - The report includes a comprehensive list of companies with their respective announcement dates and links for investor reference[1]

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-038 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | 上海姚记科技股份有限公司 关于可转债转股价格调整的公告 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。 特别提示： 一、关于可转换公司债券转股价格调整的相关规定 经中国证券监督管理委员会《关于同意上海姚记科技股份有限公司向不特 定对象发行可转换公司债券注册的批复》（证监许可[2023] 1120号）文同意注册， 公司于2024年1月25日向不特定对象发行人民币可转换公司债券5,831,273张，债 券期限为6年，每张面值为人民币100.00元，按面值发行，共募集资金人民币 583,127,300.00元。 根据《上海姚记科技股份有限公司向不特定对象发行可转换公司债券募集 说明书》（以下简称"《募集说明书》"）相关条款，在本次发行之后，若公司发 生派送红股、转增股本、增发新股（不包括因本次发行的可转换公司债券转股而 增加的股本）、配股以及派发现金股利等情况，将按下述公式进行转股 ...

债券简称：姚记转债 债券代码：127104 中信建投证券股份有限公司 关于 上海姚记科技股份有限公司 向不特定对象发行可转换公司债券 2025 年度第二次临时受托管理事务报告 受托管理人 （住所：北京市朝阳区安立路66号4号楼） 二〇二五年五月 重要声明 （一）核准与发行情况 根据中国证监会2023年5月19日出具的《关于同意上海姚记科技股份有限公 司向不特定对象发行可转换公司债券注册的批复》（证监许可[2023]1120号）， 公司于2024年1月向不特定对象发行人民币可转换公司债券5,831,273张，每张面 值为人民币100.00元，按面值发行，共募集资金人民币583,127,300.00元，扣除本 次 与 发 行 有 关 的 费 用 人 民 币 8,472,830.19 元 ， 募 集 资 金 净 额 为 人 民 币 574,654,469.81元。上述募集资金到位情况经立信会计师事务所（特殊普通合伙） 验证，并出具信会师报字[2024]第ZA10069号《验资报告》。 （二）债券主要条款 1、本次发行证券的种类 本次发行证券的种类为可转换为公司A股股票的可转债，该可转债及未来转 换的A股股票将在深圳 ...

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-037 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | 特别提示： 上海姚记科技股份有限公司（以下简称"公司"）自2024年利润分配方案披露至 今，公司总股本因股权激励计划的激励对象行权增加1,562,300股；因姚记转债转股增 加135股；导致公司股本总额由414,776,233股变更为416,338,668股。按照"维持每股 分配比例不变，相应调整分配总额"的原则，公司利润分配方案为：以公司现有总股 本416,338,668为基数，向全体股东每10股派发现金股利人民币5元（含税），共计人民 币208,169,334元。本次权益分派实施后，除权除息价格=股权登记日收盘价-0.5元。公 司在权益分派申请日至股权登记日期间，不再进行回购业务、股权激励行权、可转债 转股等导致公司总股本发生变化的相关操作。 一、 股东大会审议通过利润分配方案情况 1、2025年5月20日，公司召开2024年度股东大会审议通过的2024年度利润分配预 案为：公司拟向全体股东每 10 股派发现金股利人民币 ...

| 证券代码：002605 | 证券简称：姚记科技 | 公告编号：2025-036 | | --- | --- | --- | | 债券代码：127104 | 债券简称：姚记转债 | | 上海姚记科技股份有限公司 鉴于上海姚记科技股份有限公司（以下简称"公司"）将于近期实施公司2024年度 权益分派，根据《公司向不特定对象发行可转换公司债券募集说明书》中"转股价格 的调整方式及计算方式"条款的规定，自2025年5月23日起至本次权益分派股权登记 日止，公司可转换公司债券（债券简称：姚记转债；债券代码：127104）将暂停转股， 本次权益分派股权登记日后的第一个交易日起恢复转股。在上述期间，公司可转换公 司债券正常交易，敬请公司可转换公司债券持有人注意。 特此公告。 关于实施权益分派期间姚记转债暂停转股的公告 上海姚记科技股份有限公司董事会 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。 特别提示： 1、债券代码：127104，债券简称：姚记转债 2、转股起止时间：2024年7月31日至2030年1月24日 3、暂停转股时间：2025年5月23日起 4、恢复转股 ...

Group 1: Game Industry Performance - The gaming sector showed resilience with a closing increase of over 1% on May 22, 2025, with notable stocks like Kunlun Wanwei reaching a 20% limit up and Youzu Network and Iceberg Network also performing well [1] - The gaming industry is experiencing significant growth, with Q1 2025 revenue reaching 26.719 billion yuan, a year-on-year increase of 21.93%, and net profit attributable to shareholders rising by 47.08% to 3.482 billion yuan, indicating a recovery towards the five-year average [1] Group 2: New Consumption Trends - The rise of new consumption sectors, represented by pet economy and trendy toys, is driven by generational shifts in consumer behavior, particularly among Generation Z, who prioritize emotional value and personalized experiences [1] - Bubble Mart's Labubu series has successfully topped the shopping charts on the US App Store, indicating a strong market expansion and a shift from a toy supplier to a global IP group [2] Group 3: Company Profiles - Kunlun Wanwei is one of China's largest web game developers and operators, with a diverse portfolio including large-scale web games, social web games, mobile network games, and client games [2] - Iceberg Network focuses on developing large multiplayer online games using its proprietary engine technology, combining self-operated and authorized operations [2] - Sheng Tian Network has established its position in the industry with its "Yile You Wang Yu Platform" designed for internet cafes, focusing on efficient management of entertainment content and game updates [3] - Aofei Entertainment is leveraging its own anime brands to gradually launch games, exploring the value of its anime properties [3] - Shenzhou Taiyue provides high-quality gaming products for global players and digital solutions for enterprise clients [3] - Yaoji Technology is dedicated to creating high-quality original online games for leisure and entertainment [4] - Kaiying Network operates the XY.COM platform, a well-known premium web game operation platform in China [5] - Youzu Network specializes in the development, publishing, and operation of mobile and PC games [5]

Summary of Conference Call Notes Industry Overview - The conference call discusses the **Chinese consumer market**, highlighting its transition into a new consumption era characterized by emotional consumption and the integration of AI applications. [1][2][5] Key Insights and Arguments - The **fifth consumption era** in China emphasizes "well-being," which includes both physical and emotional health, leading to a diversification of emotional consumption patterns, especially in first-tier cities. [1][7] - The **media sector** is positioned as a dual attribute of technology and discretionary consumption, benefiting from both new consumer trends and AI applications, which are expected to drive valuation reassessment. [1][6][10] - **Policy support** from the government is crucial in driving market growth, with a focus on urban renewal and the application of new technologies to stimulate economic activity. [1][9] - The **Japanese experience** in transitioning through consumption eras serves as a model for China, particularly in understanding consumer behavior and the importance of emotional value in purchasing decisions. [2][3][6] Emerging Trends - Emotional consumption is gaining traction as it reflects changes in social and economic cycles, aligning with the "well-being" concept introduced in Japan's fifth consumption era. [8] - The **rise of new consumer demands** in sectors such as beauty care, fitness, and card games is noted, particularly in lower-tier markets, indicating potential growth opportunities. [1][5] Important but Overlooked Content - The **impact of AI and new media** on the media sector is highlighted, with a focus on the integration of AI applications in enhancing consumer engagement and content delivery. [3][10] - The **China Securities Regulatory Commission's** policies on mergers and acquisitions are expected to invigorate the market, allowing companies to leverage strategic partnerships for growth. [3][11] - Specific **media sector companies** to watch include cinema chains like Wanda Film and Hengdian Film, as well as companies involved in IP derivatives and digital marketing, indicating a diverse investment landscape. [12][13] Conclusion - The conference call emphasizes the importance of understanding the evolving consumer landscape in China, driven by emotional values and supported by government policies, while also recognizing the potential of AI applications in reshaping the media sector. [1][2][10]