同时，完美世界对涉案供应商依法依规严肃处理，成都西游部落科技有限公司、成都巧可力科技有限公 司、广州图酷网络科技有限公司以及成都喵师兄网络技术有限公司4家供应商被列入黑名单，永不合 作。 游戏行业加大反腐败力度 值得一提的是，中国游戏行业在近年来持续加大反腐败力度，多家头部企业公开通报内部反腐案例，并 与司法机构联动打击商业贿赂、职务侵占等违法行为。1月16日，腾讯发布2024年反舞弊调查。2024年 全年，腾讯反舞弊调查部共发现并查处触犯"腾讯高压线"案件百余起，百余人因触犯"腾讯高压线"被解 聘，其中二十余人因涉嫌犯罪被移送公安机关处理。梳理名单可以看到，2024年IEG（互动与娱乐事业 群）、CSIG（云与智慧产业事业群）为违规"重灾区"。 2024年11月初，网易的贪腐问题受到广泛关注，通报的涉事员工涉及互娱渠道发行中心，负责电竞的 Battle事业部等多个部门，27家公司被永久"拉黑"，列入永不合作名单。到了2025年1月17日，网易内部 又公布了此前"网易游戏高管贪腐"事件的后续调查通报。通报显示，过去半年，网易内部发生了5起刑 事类案件，9起严重违规被辞退、永不录用案件，这些案件共涉及27名员工 ...

7月1日，完美世界内部发布了一份反贪腐调查公告。公告显示，完美世界旗下包括百万、青云、硬 核工作室总计8名在职及已离职人员，涉嫌与供应商内外勾结、营私舞弊、损害公司利益，完美世界 已向公安机关报案。 完美世界在公告中公布了部分员工的相关信息，岗位涉及工作室负责人、策划部负责人、HR经理、 美术部动作组长以及动作组员工、美术部负责人等，违规行为最频繁的是 "收受供应商贿赂"，其次 还包括"涉嫌参与私分外包合同款""在人力外包供应商选用、管理、结算工作中严重失职"。 对于案件中所涉及的4家相关供应商，完美世界将其列入供应商黑名单，永不合作。具体包括成都西 游部落科技、成都巧可力科技、广州图酷网络科技以及成都喵师兄这几家公司。 完美世界在去年8月也曾发布反腐公告，通报2023年以来旗下星云工作室以及原Bard游戏项目组多 名员工涉嫌收受贿赂、职务侵占等的违规行为，涉及高级美术总监、制作人、2D 主美、3D 主美等 多名员工。这次是时隔11个月后完美世界的又一反腐动作。 2024年，包括腾讯、网易、莉莉丝、IGG等公司都曾整治反腐，第一财经了解到，游戏公司中涉及 市场营销、广告投放、美术外包等的相关岗位是贪腐重灾区。 ...

游戏公司中涉及市场营销、广告投放、美术外包等的相关岗位是贪腐重灾区。 2024年，反腐成为游戏公司的共识，腾讯、网易、莉莉丝等公司都发布了反腐公告。来到2025年，这一 趋势还在继续。 7月1日，完美世界内部发布了一份反贪腐调查公告。公告显示，完美世界旗下包括百万、青云、硬核工 作室总计8名在职及已离职人员，涉嫌与供应商内外勾结、营私舞弊、损害公司利益，完美世界已向公 安机关报案。 完美世界在公告中公布了部分员工的相关信息，岗位涉及工作室负责人、策划部负责人、HR经理、美 术部动作组长以及动作组员工、美术部负责人等，违规行为最频繁的是 "收受供应商贿赂"，其次还包 括"涉嫌参与私分外包合同款""在人力外包供应商选用、管理、结算工作中严重失职"。 对于案件中所涉及的4家相关供应商，完美世界将其列入供应商黑名单，永不合作。具体包括成都西游 部落科技、成都巧可力科技、广州图酷网络科技以及成都喵师兄这几家公司。 完美世界在去年8月也曾发布反腐公告，通报2023年以来旗下星云工作室以及原Bard游戏项目组多名员 工涉嫌收受贿赂、职务侵占等的违规行为，涉及高级美术总监、制作人、2D 主美、3D 主美等多名员 工。这次是时 ...

7月1日下午消息，今日完美世界（002624）官方发布了"反贪腐内部公告"，其中原百万工作室、青云工 作室、硬核工作室多位负责人及组长等，涉及收受供应商贿赂、违规领取并私分内推奖金、拒不配合公 司审计调查等行为，目前多位涉及贪腐行为的人员已受到辞退且永不录用的处理。(新浪科技) ...

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report emphasizes the potential of AI applications in video understanding and generation, particularly through the launch of Kwai Keye-VL by Kuaishou, which showcases advanced multimodal capabilities [5] - The report suggests continued investment in the gaming sector, particularly with the recent approval of numerous domestic game licenses, indicating a favorable environment for new game launches [6] - The upcoming summer season is expected to boost consumption in various IP sectors, including games, animated films, concerts, and trendy toys, with specific recommendations for companies in these areas [6] Summary by Sections Industry Data Overview - "Delta Action" ranked first in the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of June 28, 2025 [13][17] - The film "Sauce Garden Case" achieved the highest box office for the week, grossing 1.64 billion [28] Industry News Overview - AI advancements in embodied intelligence and brain-computer interfaces are highlighted, with ongoing releases in gaming and film sectors [35] - The report notes the launch of Gemini, the first model capable of running locally on robots, enhancing task adaptability and efficiency [35] Company Recommendations - For AI video applications, key recommendations include Kuaishou-W, Shanghai Film, and Tencent Holdings, with beneficiaries like Alibaba-W and Kunlun Wanwei [5] - In the gaming sector, companies such as Xindong Company, Giant Network, and Perfect World are recommended, with beneficiaries including Youyi Time and Kingsoft [6] - For animated films, Shanghai Film is highlighted, while beneficiaries include Zhongwen Online [6] - In the concert and performance sector, Fengshang Culture is recommended, with beneficiaries like Alibaba Pictures and Maoyan Entertainment [6] - The trendy toy sector recommends Blukoo and Aofei Entertainment, with beneficiaries including Pop Mart and Quantum Song [6]

Core Insights - The event held on June 24, 2025, in Tianjin focused on the latest trends in AI development, featuring insights from various experts and representatives from technology companies [1] - Perfect World Group's Senior Vice President, Edy, highlighted the revolutionary impact of AI technology on the gaming industry and shared the company's practical achievements in the AI+gaming sector [1] Group 1: AI's Impact on Gaming - AI empowers the gaming industry in three dimensions: enhancing game product experiences, restructuring game production methods, and providing spillover value to other fields [3] - AI-assisted and AI-native games are creating new possibilities, with 78% of players willing to extend gameplay time for intelligent NPCs and 81% willing to pay for it [3] - The emergence of AI-native games in 2024 signifies a shift in industry competition towards a deeper contest of technology and creativity [3] Group 2: Production and Efficiency - AI is driving the gaming production process towards intelligent upgrades, addressing the rising demand for high-quality content in the entertainment industry [3] - Perfect World has integrated AI technologies into its game development pipeline, collaborating with global tech giants like Microsoft and NVIDIA to enhance production efficiency [4] - The company has developed various tools, including intelligent character dialogue algorithms and game generation tools, to empower its research and development [4] Group 3: Broader Applications of AI - Gaming serves as a significant experimental ground for AI, with complex demands and vast data driving innovation that spills over into digital content, education, and smart manufacturing [3] - Perfect World is also leveraging AI to improve efficiency in film production and enhance esports experiences through innovative technologies like VR holographic viewing [4] Group 4: Commitment to Technological Exploration - Perfect World aims to be a steadfast explorer and practitioner of technology, seeking new opportunities in the AI+ landscape through collaboration with partners [5]

2025 年 6 月 26 日 何利超 H70529@capital.com.tw 目标价(元) 18 公司基本资讯 | 产业别 | | 传媒 | | --- | --- | --- | | A 股价(2025/6/26) | | 14.93 | | 深证成指(2025/6/26) | | 10343.48 | | 股价 12 个月高/低 | | 16.23/6.68 | | 总发行股数(百万) | | 1939.97 | | A 股数(百万) | | 1827.73 | | A 市值(亿元) | | 272.88 | | 主要股东 | | 完美世界控股 | | | | 集团有限公司 | | | | (22.32%) | | 每股净值(元) | | 3.42 | | | 一个月 三个月 | 一年 | | 股价涨跌(%) | 18.8 32.3 | 95.5 | 近期评等 出刊日期 前日收盘 评等 | 产品组合 | | | --- | --- | | 游戏 | 93.00% | | 影视剧制作 | 6.28% | 机构投资者占流通 A 股比例 | 基金 | 11.6% | | --- | --- | | 一般法 ...

Group 1 - The 22nd China International Digital Interactive Entertainment Expo (ChinaJoy) will be held from August 1 to August 4, 2025, at the Shanghai New International Expo Center [1] - A total of 743 companies have registered for the event, with 237 foreign companies from 37 countries and regions, accounting for 31.8% of the total [3] - The BTOC Interactive Entertainment Pavilion will feature over 283 companies with a total exhibition area of 110,000 square meters, focusing on consumer interactive entertainment experiences [3] Group 2 - The BTOB Business Negotiation Pavilion will have over 460 companies participating, covering an area of 25,000 square meters, with nearly 208 foreign companies, making up 45.2% of the exhibitors [3] - Notable game products from companies like NetEase, Century Huatong, and Perfect World will be showcased, including popular titles and new games available for on-site testing [3] - In 2025, ChinaJoy will explore new online and offline interactive experiences in collaboration with Alipay's Blue Flower Fire community, utilizing "Alipay Touch" technology for enhanced engagement [4]

证券代码：002624 证券简称：完美世界 公告编号：2025-027 二、本次员工持股计划认购及非交易过户情况 1、本次员工持股计划认购价格调整情况 根据公司《2025 年员工持股计划》，股票授予价格为 6.80 元/股。若自公司 董事会审议通过之日起至标的股票过户至员工持股计划名下之日期间，公司发生 资本公积转增股本、派发股票红利、派息、缩股或配股等事宜，对于尚未过户至 本次员工持股计划的股票授予价格将做相应调整。 1 完美世界股份有限公司 关于 2025 年员工持股计划首次授予部分非交易过户完成的 公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 完美世界股份有限公司（以下简称"公司"）于 2025 年 5 月 7 日、2025 年 5 月 26 日召开公司第六届董事会第十二次会议、2024 年度股东大会，审议通过公 司《2025 年员工持股计划（草案）及其摘要》等相关议案，具体内容详见公司刊 登于巨潮资讯网（www.cninfo.com.cn）的相关公告。 根据《关于上市公司实施员工持股计划试点的指导意见》《深圳证券交易所 上市公司自律监管指引第 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Views - The gaming industry is entering a recovery phase, with a 9.9% year-on-year growth in the Chinese gaming market as of May 2025, driven by new game releases and upcoming summer titles [5] - AI applications are accelerating in various sectors, including content creation, entertainment, education, and e-commerce, with significant advancements in AI models and tools [4][5] - The report emphasizes the importance of focusing on mid-year performance and new content releases to capitalize on emerging consumer trends in IP [5] Summary by Sections Industry Data Overview - "Delta Action" ranked first in the iOS free chart, while "Honor of Kings" topped the iOS revenue chart as of June 21, 2025 [12][16] - The film "Sauce Garden Case" achieved a weekly box office of 1.37 billion [28] AI Evolution Driving Industry Change - Multiple large AI models have been released or upgraded, enhancing capabilities in various applications [35] - The introduction of the MiniMax-M1 model signifies a shift towards efficient, low-cost AI solutions with strong reasoning capabilities [38] Gaming Sector Insights - The mobile gaming market saw a 12.0% year-on-year growth, with self-developed games generating overseas revenue increasing by 6.9% [5] - New game launches and summer releases are expected to boost the gaming sector's performance in Q2 and Q3 [5] Recommendations for Investment - Key recommendations include Tencent Holdings and Kuaishou-W for large models/agents, with Alibaba-W and SenseTime-W as beneficiaries [4] - The report suggests focusing on mid-year earnings and new content to drive investment in IP new consumption sectors, including gaming, short dramas, films, and trendy toys [5]