Core Viewpoint - The company, Shenzhou Taiyue, is one of the earliest entrants in the information security business in China, focusing on providing security software and services to various industries such as telecommunications, energy, finance, and transportation [1] Group 1: Business Focus - The company specializes in three main areas of information security: identity security, asset security, and security management [1] - It has developed an integrated security operation center, identity security platform, asset security platform, and security management platform, along with over ten standardized security products [1] Group 2: Technical Expertise - The company has solid technical accumulation and practical experience in data security, covering areas such as data access control, data operation behavior auditing, fine-grained database management, database traffic auditing, API traffic auditing, data asset management, and data security operations [1]

Group 1 - Alibaba is actively promoting the construction of AI infrastructure with an investment of 380 billion and plans for additional funding [1] - The IPO of Moore Threads on the Sci-Tech Innovation Board is scheduled for September 26, with several GPU companies expected to initiate listings within the year [1] - Huawei's rotating chairman shared plans for the Ascend chip series, with the Ascend 950PR chip expected to launch in Q1 2026 and the Ascend 960 chip in Q4 2027 [1] Group 2 - The domestic AI industry chain is accelerating, with expectations for a spiral growth in large models, computing power, and applications [2] - The CSI Artificial Intelligence Theme Index (930713) has seen a strong increase of 1.79%, with notable gains in constituent stocks such as Lianqi Technology (up 7.53%) and iFlytek (up 6.47%) [2] - The AI Artificial Intelligence ETF (512930) has risen by 1.73%, with a recent price of 2.18 yuan, and has a management fee of 0.15%, the lowest among comparable funds [2] Group 3 - As of August 29, 2025, the top ten weighted stocks in the CSI Artificial Intelligence Theme Index account for 60.82% of the index, including companies like Xinyi Technology and Cambricon [3] - The top ten stocks by weight include Zhongji Xuchuang, Xinyi Technology, and iFlytek, with varying performance and weight percentages [4]

Core Viewpoint - The A-share market is experiencing a strong performance in the online gaming sector, with several stocks reaching significant gains [1] Group 1: Stock Performance - Dongfang Mingzhu has reached the daily limit increase [1] - Shenzhou Taiyue and G-bits have increased by over 7% [1] - Kying Network and Kunlun Wanwei have risen by over 5% [1] - Xunyou Technology and Giant Network have gained over 4% [1]

Group 1 - The stock of Beijing Shenzhou Taiyue Software Co., Ltd. increased by 5.09% on September 24, reaching a price of 15.07 CNY per share, with a trading volume of 9.71 billion CNY and a turnover rate of 3.57%, resulting in a total market capitalization of 29.645 billion CNY [1] - The company was established on May 18, 2001, and went public on October 30, 2009. Its main business areas include operator services, IoT and communications, artificial intelligence and big data, mobile gaming, and innovative services [1] - The revenue composition of the company is as follows: gaming accounts for 75.53%, AI/ICT operation management 19.89%, IoT/communications 2.04%, innovative services 1.99%, and other supplementary services 0.55% [1] Group 2 - According to data from the top ten heavy stocks of funds, one fund under Galaxy Fund holds a significant position in Shenzhou Taiyue. The Galaxy Xinli Mixed A Fund (519652) held 174,900 shares in the second quarter, accounting for 0.88% of the fund's net value, ranking as the sixth-largest heavy stock [2] - The Galaxy Xinli Mixed A Fund was established on April 22, 2015, with a current scale of 232 million CNY. Year-to-date returns are 1.8%, ranking 7514 out of 8173 in its category; the one-year return is 9.06%, ranking 6965 out of 7996; and since inception, the return is 61.69% [2] Group 3 - The fund managers of Galaxy Xinli Mixed A are Liu Ming and Bao Wubin. Liu Ming has a cumulative tenure of 8 years and 292 days, with a total fund asset size of 5.545 billion CNY, achieving a best fund return of 140.79% and a worst return of -4.69% during his tenure [3] - Bao Wubin has a cumulative tenure of 3 years and 192 days, managing a total fund asset size of 1.09 billion CNY, with a best fund return of 39.56% and a worst return of -29.11% during his tenure [3]

Core Viewpoint - The company has successfully launched two new games aimed at the overseas market, which are currently in the final stages of commercialization testing and are expected to enter formal promotion soon [1] Group 1: Game Development and Launch - The company has released two new games, "Stellar Sanctuary" and "Next Agers," which are designed for the overseas market and are currently undergoing commercialization testing [1] - Both games have been listed on the Google Play and App Store in the US, indicating progress towards their official launch [1] - The company has also obtained domestic licenses for these games and is developing mini-program versions specifically for the domestic market, with plans to launch them at an appropriate time [1]

Core Insights - The article highlights a trend of decreasing shareholder accounts among 498 companies, indicating a concentration of shares, with 93 companies experiencing a decline for three consecutive periods or more [1][2] Group 1: Shareholder Account Trends - 93 companies have seen a continuous decrease in shareholder accounts for over three periods, with some like ST Huawen and Guotou Fengle experiencing declines for 13 and 10 periods respectively, with reductions of 15.38% and 15.73% [1] - The latest data shows significant declines in shareholder accounts for companies such as Hongming Co., ST Qingyan, and Shenzhou Taiyue, with decreases of 13.30%, 11.03%, and 10.27% respectively [1][2] Group 2: Market Performance - Among the companies with declining shareholder accounts, 15 have seen their stock prices rise, while 78 have experienced declines, with notable increases for ST Qingyan (45.91%), Hongming Co. (13.56%), and Jerey Co. (12.21%) [2] - 10.75% of the companies with decreasing shareholder accounts outperformed the Shanghai Composite Index, with ST Qingyan, Honghe Technology, and Dongfang Tantalum achieving excess returns of 37.02%, 10.51%, and 7.65% respectively [2] Group 3: Industry and Institutional Interest - The industries with the highest concentration of companies experiencing declining shareholder accounts include machinery, basic chemicals, and pharmaceuticals, with 14, 10, and 8 companies respectively [2] - In terms of institutional interest, 14 companies with declining shareholder accounts were surveyed by institutions in the past month, with Donggang Co., Dongfang Tantalum, and Dalian Heavy Industry receiving the most attention [2]

Investment Rating - The report maintains a "Buy" rating for the media industry, indicating a positive outlook for the sector [6][9]. Core Insights - The media industry saw a weekly increase of 0.92%, ranking 8th among industries, while the Shanghai Composite Index fell by 1.30% [12][19]. - Notable performers in the media sector included Xinghui Entertainment, Perfect World, and Mango Super Media, with significant weekly gains [19]. - The report highlights the growth of AI applications, with native AI software users reaching 277 million in August 2025, and Byte's Doubao surpassing Deepseek in monthly active users [23][24]. - The gaming segment is thriving, with the game "Delta Force" achieving over 30 million daily active users and topping the iOS sales chart [27][28]. - The film industry reported a total box office of 831 million yuan for the week, with the film "731" leading the box office [32][33]. Summary by Sections Market Performance - The media industry experienced a weekly increase of 0.92%, outperforming the Shanghai Composite Index, which fell by 1.30% [12][19]. - The gaming sector saw a 3.51% increase, while advertising and publishing sectors faced declines [15]. Key Industry Data - AI applications reported a user base of 277 million, with significant growth in Tencent's products [23][24]. - The iOS game sales chart was led by "Delta Force," followed by "Honor of Kings" and "Peacekeeper Elite" [27][28]. - The total box office for the week was 831 million yuan, with "731" accounting for 69.7% of the total [32][33]. Investment Recommendations - The report expresses optimism towards AI applications and cultural exports, focusing on sub-sectors like gaming, IP, short dramas, and publishing [37]. - Specific companies highlighted for investment include Giant Network, Perfect World, and Mango Super Media [37].

Core Viewpoint - Shenzhou Taiyue has experienced a continuous decline in the number of shareholders, with a significant drop of 10.27% over the last period, indicating potential concerns regarding investor confidence and market sentiment [2] Shareholder Information - As of September 20, the number of shareholders for Shenzhou Taiyue was 88,674, a decrease of 10,154 from the previous period [2] - This marks the third consecutive decline in the number of shareholders [2] Stock Performance - The closing price of Shenzhou Taiyue on the reporting date was 14.21 yuan, reflecting a decrease of 1.32% [2] - Since the concentration of shares began, the stock price has cumulatively increased by 3.72%, with 4 days of gains and 4 days of losses during this period [2] Financing and Margin Data - As of September 19, the latest margin trading balance for the stock was 1.275 billion yuan, with a financing balance of 1.259 billion yuan [2] - The financing balance has decreased by 60.4415 million yuan, representing a decline of 4.58% since the concentration of shares began [2] Financial Performance - For the first half of the year, Shenzhou Taiyue reported total revenue of 2.685 billion yuan, a year-on-year decrease of 12.05% [2] - The net profit for the same period was 509 million yuan, down 19.26% year-on-year, with basic earnings per share at 0.2602 yuan and a weighted average return on equity of 7.01% [2] Institutional Ratings - In the past month, Shenzhou Taiyue has received buy ratings from 14 institutions [2] - The highest target price forecasted is 20.01 yuan, as per a report from Huatai Securities published on August 28 [2]

Core Insights - Shenzhou Taiyue's stock price decreased by 2.01% on September 22, trading at 14.11 CNY per share, with a market capitalization of 27.757 billion CNY [1] - The company has seen a year-to-date stock price increase of 22.80%, but a decline of 1.81% over the last five trading days [1] Financial Performance - For the first half of 2025, Shenzhou Taiyue reported a revenue of 2.685 billion CNY, a year-on-year decrease of 12.05%, and a net profit attributable to shareholders of 509 million CNY, down 19.26% year-on-year [2] - Cumulative cash dividends since the company's A-share listing amount to 1.297 billion CNY, with 372 million CNY distributed over the last three years [3] Shareholder Information - As of September 10, the number of shareholders decreased to 98,800, while the average circulating shares per person increased by 1.18% to 18,689 shares [2] - The largest circulating shareholder is Hong Kong Central Clearing Limited, holding 56.3593 million shares, a decrease of 5.95812 million shares from the previous period [3]

Market Overview - On September 18, the gaming sector declined by 1.56%, with Xinghui Entertainment leading the drop [1] - The Shanghai Composite Index closed at 3831.66, down 1.15%, while the Shenzhen Component Index closed at 13075.66, down 1.06% [1] Individual Stock Performance - Xinghui Entertainment (300043) closed at 7.17, down 6.88%, with a trading volume of 2.0662 million shares and a turnover of 1.518 billion yuan [2] - Other notable declines include: - Shenzhou Taiyue (300002) down 4.95% to 14.20 with a turnover of 1.763 billion yuan [2] - Bingchuan Network (300533) down 4.55% to 40.52 with a turnover of 994 million yuan [2] - Conversely, Xunyou Technology (300467) saw an increase of 5.61%, closing at 27.10 with a turnover of 927 million yuan [1] Capital Flow Analysis - The gaming sector experienced a net outflow of 1.72 billion yuan from major funds, while retail investors contributed a net inflow of 1.439 billion yuan [2] - Speculative funds saw a net inflow of 281 million yuan into the gaming sector [2]