Core Viewpoint - Perfect World is poised for a turnaround in 2025, with expectations of profitability driven by new game releases, particularly the core new game "Yihuan" which is entering its testing phases and is anticipated to be a significant growth engine for the company in 2026 [1][4]. Financial Performance - In 2025, Perfect World is projected to achieve a net profit attributable to shareholders of between 830 million to 870 million yuan, with a non-GAAP net profit expected to be between 650 million to 690 million yuan [2]. - The online game "Zhu Xian World" is set to launch in December 2024, with initial revenue exceeding 400 million yuan in its first month [2]. Product Development and Strategy - The successful performance of multiple new products is expected to contribute significantly to the 2025 financial results, marking a transition from a declining phase to a recovery cycle driven by new products [3]. - The company plans to focus on its strengths in existing games while also advancing new projects, aiming to explore new genres such as SLG and casual games, and enhance its overseas business [3]. Market Position and Potential - "Yihuan" is positioned as a key driver for growth in 2026, developed using Unreal Engine 5.5 and incorporating NVIDIA DLSS4 technology, with positive feedback from ongoing tests [4]. - The game is expected to leverage its unique themes and technological advancements to achieve significant commercial potential, with comparisons to successful titles in the market [4]. - Perfect World aims to enhance its global presence through participation in international gaming exhibitions and by hosting major esports events, such as the DOTA2 International in August 2026, to drive its esports business [4].

Group 1 - The People's Bank of China announced a 1 trillion yuan reverse repurchase operation to maintain liquidity in the banking system, indicating a reduced urgency for a short-term reserve requirement ratio cut [1] - Analysts suggest that the large liquidity injection allows for observation of effects before implementing broader monetary tools like a reserve requirement ratio cut, which remains an important option in the central bank's toolkit [1] Group 2 - Shenzhen's Industrial and Information Technology Bureau released an action plan for "Artificial Intelligence + Advanced Manufacturing" aimed at enhancing the semiconductor industry through AI applications [2] - The plan focuses on optimizing chip design and software code efficiency, and developing high-performance AI chips to meet the demands of various AI terminals [2] Group 3 - The Ministry of Industry and Information Technology is soliciting public opinions on mandatory national standards for the safety requirements of autonomous driving systems in intelligent connected vehicles [6] Group 4 - The Shanghai Stock Exchange plans to reduce market operating costs, expecting to return approximately 1.113 billion yuan to the market in 2026 through various initiatives [8] - The initiatives include optimizing information disclosure channels and enhancing regulatory service quality [8] Group 5 - The Ministry of Commerce proposed to impose countervailing duties on imported dairy products from the European Union, effective February 13, 2026 [9] Group 6 - The National Development and Reform Commission aims to establish a mandatory insurance system for unmanned aerial vehicles by 2027, enhancing the safety framework for low-altitude economic activities [10] Group 7 - The film industry is being targeted for consumption growth through a "Film +" initiative, with expectations for significant box office performance during the upcoming Spring Festival holiday [12] - Analysts highlight potential investment opportunities in film content producers, leading cinema companies, and firms with strong film production and marketing capabilities [12] Group 8 - A list of undervalued media stocks with projected earnings growth of over 100% has been compiled, indicating potential investment opportunities in the film and media sector [13]

Core Viewpoint - Perfect World (002624) has shown a strong recovery in its financial performance, with multiple institutions maintaining a "strong buy" rating following the company's forecast of a net profit of 720 million to 760 million yuan for 2025, marking a successful turnaround from losses [1] Group 1: Financial Performance - The company expects to achieve a net profit of 720 million to 760 million yuan for the year 2025, indicating a significant recovery in profitability [1] - The core driver of this performance turnaround is attributed to the strong recovery of the gaming business, with several new games contributing significantly to revenue growth [1] Group 2: New Game Releases - In 2025, Perfect World is set to launch three key products that will drive revenue growth, including the PC game "Zhu Xian World," which is expected to maintain stable revenue contributions due to its strong IP user base [2] - The classic IP "Zhu Xian 2" is scheduled for public testing in August 2025, aiming to sustain market interest [2] - The collaboration with ATLUS on the RPG "Persona: Nightshade" is expected to enhance the company's capabilities in the two-dimensional genre and overseas distribution, with a launch planned for June to July 2025 [2] - The self-developed supernatural urban open-world RPG "Yihuan" is set for a new round of testing on February 4, 2026, and is anticipated to be a key growth driver if it performs well [2] Group 3: Esports and Media Business - Perfect World is leveraging a comprehensive esports event system to drive refined product operations, with revenue expected to grow year-on-year in 2025 [3] - The company will host the DOTA2 International Invitational (TI2026) in Shanghai in August 2026, continuing its strategy of using events to promote products and expand internationally [3] - In the media sector, several platform-customized dramas produced by Perfect World have received positive market feedback, and the company is actively investing in the short drama segment to support healthy development [3] - Multiple securities firms maintain a "strong buy" rating for Perfect World, anticipating a return to high-quality growth in 2026 due to stable core games, new product launches, and ongoing cost reduction efforts [3]

Group 1 - The gaming concept stocks have declined, with Light Media falling over 10%, Perfect World down over 4%, and companies like Kaiying Network, G-bits, and Changchun Technology dropping over 2% [1] - The gaming-related ETFs have also seen a decrease of approximately 3% [1] Group 2 - Some brokerages indicate that the global gaming market is currently in an upward cycle, with long-term optimistic growth expected in terms of revenue and player numbers [2] - The strong generative capabilities of DeepSeek may significantly enhance game development efficiency, creating more user-demanded virtual characters, maps, and storylines, thereby enriching gameplay and fostering paid scenarios [2]

Core Viewpoint - Perfect World announced that independent director Sun Ziqiang reduced his shareholding in the company by 44,300 shares at an average price of 22.38 yuan per share, representing 0.0023% of the total share capital [1] Summary by Relevant Sections - **Shareholding Reduction Details** - The reduction was executed through centralized bidding on February 10, 2026 [1] - Prior to the reduction, Sun Ziqiang held 177,200 shares, which accounted for 0.0091% of the total share capital [1] - After the reduction, his holdings decreased to 132,900 shares, representing 0.0069% of the total share capital [1] - The share reduction plan has been fully implemented [1]

本公司及董事会全体成员保证公告内容与信息披露义务人提供的信息一致。 完美世界股份有限公司（以下简称"公司"）于 2026 年 1 月 17 日披露了《关 于公司董事减持股份的预披露公告》，公司独立董事孙子强先生计划在公告披露 之日起 15 个交易日后的 3 个月内，以集中竞价方式减持公司股份不超过 44,300 股，即不超过公司总股本的 0.0023%。 证券代码：002624 证券简称：完美世界 公告编号：2026-009 完美世界股份有限公司 关于公司董事减持股份实施完毕的公告 公司董事孙子强先生保证向本公司提供的信息内容真实、准确、完整，没有 虚假记载、误导性陈述或重大遗漏。 注：上表中若出现总数与各分项数值之和尾数不符的情况，均为四舍五入原因造成。 1 二、其他相关说明 1、本次减持股份期间，孙子强先生严格遵守《证券法》《上市公司股东减 持股份管理暂行办法》《深圳证券交易所股票上市规则》《深圳证券交易所上市 公司自律监管指引第 18 号—股东及董事、高级管理人员减持股份》等相关法律、 法规及规范性文件的规定。 近日，公司收到孙子强先生《关于减持股份实施完毕的告知函》，截至本公 告日，孙子强先生通过集中 ...

【完美世界】持续重点推荐 付费模式：抽卡为 "大富翁"棋盘式，90 抽必出当期 UP（不歪池），70 抽后提率，角色保底出率 1.87%，单抽 附培养资源，叠加福利让利玩家；月卡（异晶开采凭证）享资源特权，通行证（精锐 / 荣誉猎人补给）含专属奖 励，所有付费计入累计充值；测试累计充值 4348 元（含异晶、月卡等费用），公测返还异晶 63350、异晶开采凭 证 2 个。 多端表现：PC 端和iOS运行流畅；安卓端机型有分化，中高端表现佳，天玑 8100以下机型帧率波动大，期待 后续优化。 《 查找图书 》开启第三轮限量计费删档 "共存测试"，整体感受超预期：1）亮点：都市体验感突出，载具、同居 玩法为亮点，PC 端表现佳；2）优化空间：安卓端帧率还有优化空间。整体看产品底子扎实、在二游中差异化显 著，后续的日本和北美市场有望口碑发酵，有望成为长线大单品。 玩法亮点：1）都市场景体验真实，交互纵深强，角色互动丰富，NPC 数量大增且带生活化细节；载具类型丰 富，部分可进化（如摩托车解锁 "鬼火摩托"）；2）新增好感度绑定同居玩法（4 级解锁），含互动及专属语音， 第一人称视角提升代入感；3）加入PVE搜打撤/ ...

格隆汇2月10日｜据深蓝财经，就在完美世界股价创阶段新高之际，实控人池宇峰悄然完成一轮关键减 持。2026年2月5日至9日，完美世界连续三个交易日收盘价涨幅偏离值累计超过20%，触发深交所股票 交易异常波动标准。公司2月9日晚间公告披露，经核查，实际控制人池宇峰在异动期间合计减持124.7 万股，按期间均价估算，套现金额超2000万元。针对股价异动，完美世界表示，已向控股股东及实控人 书面问询，确认不存在应披露而未披露的重大信息，公司经营环境未发生重大变化，前期披露信息无需 更正或补充。 ...

Market Overview - The A-share market experienced a narrow fluctuation on February 10, with mixed performance across the three major indices. The Shanghai Composite Index rose by 0.13%, while the Shenzhen Component increased by 0.02%, and the ChiNext Index fell by 0.37% [1] - The total trading volume in the A-share market was 2.12 trillion yuan, a decrease of 145.5 billion yuan compared to the previous trading day. Out of 3,157 stocks, 2,222 rose while 3,157 declined [1] Sector Performance - The sectors that saw significant gains included film and television, short drama games, Sora concept (text-to-video), intellectual property protection, cultural media, mobile games, AI predictions, and online games [1] - Conversely, sectors that experienced declines included precious metals, liquor, cultivated diamonds, photovoltaic equipment, zinc, gold concepts, perovskite batteries, duty-free shops, and horse racing concepts [2] AI Video Generation Impact - ByteDance's AI video generation model, Seedance 2.0, has gained significant attention for its ability to create high-quality videos from text or images in just 60 seconds. This innovation is expected to reshape the content production industry by reducing costs and production cycles [6] - The introduction of Seedance 2.0 is anticipated to accelerate the development of the short drama and animation sectors, which are currently facing challenges such as high costs and long production times. The model's capabilities are expected to lower production costs and increase industry capacity [7] Market Sentiment and Predictions - As the Lunar New Year approaches, investors are faced with the decision to hold stocks or cash. Historical data suggests a tendency for the Shanghai Composite Index to rise around the holiday period, with 7 out of the last 10 years showing gains [8] - Multiple institutions express optimism regarding the market's performance around the New Year, with a prevailing recommendation to "hold stocks for the holiday." This sentiment is supported by recent policy measures aimed at enhancing market confidence and liquidity [9] - Current valuation levels indicate that the overall A-share index price-to-book ratio has dropped to 1.90, which is at the historical median level. Earnings forecasts suggest a shift in focus from valuation to profitability, with certain sectors like technology manufacturing showing positive trends [10]

广发证券认为，《异环》核心在于强化玩家主体性。这为二次元开放世界创造了全新体验。具体体现 为：在操作上，可选第一人称视角，带来更强的沉浸感；在玩法上，多分支的支线设计让玩家的主动选 择能显著改变进程与结局，从而使其从剧情的"阅读者"转变为内容的"推动者"。 《异环》关注度较高，具备用户基础，且玩法体验丰富 (1)用户基础扎实，市场热度高。据官网数据，游戏预约量已突破2000万；其三测PV在哔哩哔哩的播放 量超过700万，反映出产品通过早期宣发积累了扎实的关注度与用户基本盘。 智通财经APP获悉，广发证券发布研报称，根据伽马数据，回顾过去5年的二次元游戏市场，行业有典 型的供给创造需求的特征，在重点产品发行的年份，市场规模均有显著增长。《明日方舟：终末地》持 续验证二次元开放世界的商业化潜力，当前《异环》测试表现突出，玩家获得更加沉浸的游戏体验，产 品上线有望实现突出流水表现，核心推荐具备二次元产品的游戏研发商。首推完美世界(002624.SZ)， 关注头部公司腾讯控股(00700)、储备有《无限大》的网易-S(09999)等。 广发证券主要观点如下： 二次元市场或迎来复苏，《明日方舟：终末地》的成功发行持续验 ...