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]

Group 1 - The gaming sector has shown strong performance recently, driven by new product release expectations and industry recovery, with the gaming ETF (159869) gaining nearly 1.5% [1] - Major stocks in the gaming ETF include Xunyou Technology (300467) leading with over 10% increase, followed by Beiwai Technology (002148) with nearly 6% rise, and others like Kaiying Network (002517), G-bits (603444), Baotong Technology (300031), and Giant Network (002558) also showing significant gains [1] - The gaming ETF has seen a net inflow of funds for two consecutive days, accumulating a total of 5.92 billion yuan [1] Group 2 - In the first half of 2025, the gaming sector achieved revenue of 54.452 billion yuan, a year-on-year increase of 22.17%, with net profit rising 74.95% to 8.052 billion yuan [2] - The profit increase is attributed to leading companies like Perfect World (002624) focusing on core product operations and self-developed IP iterations, alongside contributions from hit games and new game version updates [2] - The overall profitability of the gaming sector improved, with gross margin and net margin rising by 0.37 percentage points and 4.13 percentage points to 67.80% and 14.74%, respectively [2] Group 3 - Wanlian Securities notes that the media sector's overall performance is recovering, with significant improvement in the gaming sector's performance in Q2 2025 [3] - The long-term outlook for the industry is positive, with expectations of recovery in industry prosperity driven by gradual restoration of content supply, deepening AI technology empowerment, policy support, and consumer recovery [3] - Companies in the film and television industry, as well as those in the gaming sector showing strong performance, are recommended for attention, along with those involved in digital assets and AIGC-related technologies [3]

Market Overview - On September 17, the gaming sector rose by 2.02%, with Kaiying Network leading the gains [1] - The Shanghai Composite Index closed at 3876.34, up 0.37%, while the Shenzhen Component Index closed at 13215.46, up 1.16% [1] Individual Stock Performance - Notable gainers included: - Xinying Network (002517) with a closing price of 28.06, up 9.01% and a trading volume of 563,800 shares, totaling 1.514 billion yuan [1] - Giant Network (002558) closed at 45.38, up 4.49% with a trading volume of 459,700 shares, totaling 2.076 billion yuan [1] - Xunyou Technology (300467) closed at 25.66, up 4.44% with a trading volume of 180,400 shares, totaling 453 million yuan [1] Fund Flow Analysis - The gaming sector experienced a net outflow of 637 million yuan from institutional investors, while retail investors saw a net inflow of 330 million yuan [2][3] - Key stocks with significant fund flows included: - Shenzhou Taiyue (300002) with a net inflow of 141 million yuan from institutional investors [3] - Perfect World (002624) saw a net inflow of 95.9 million yuan from institutional investors [3] ETF Performance - The Gaming ETF (159869) tracking the China Animation and Gaming Index saw a 4.78% increase over the past five days, with a net outflow of 44.875 million yuan [5] - The Food and Beverage ETF (515170) experienced a decline of 1.63% over the past five days, with a net outflow of 17.845 million yuan [5]

证券代码：300031 证券简称：宝通科技 公告编号：2025-040 无锡宝通科技股份有限公司 2025 年第一次临时股东大会决议公告 本公司及其董事会全体人员保证公告内容真实、准确和完整，公告不存在 虚假记载、误导性陈述或者重大遗漏。 特别提示： 1、本次股东大会无否决议案的情形； 2、本次股东大会不涉及变更以往股东大会已通过的决议； 3、本次会议采取现场投票和网络投票相结合的表决方式。 一、会议召开的基本情况 1、会议召开时间： （1）现场会议召开时间：2025 年 9 月 15 日（星期一）下午 15:00 开始。 （2）网络投票时间：通过深圳证券交易所交易系统进行网络投票的时间为 2025 年 9 月 15 日上午 9:15-9:25，9:30-11:30 和下午 13:00-15:00；通过深圳证券 交易所互联网系统投票的具体时间为 2025 年 9 月 15 日 9:15-15:00 的任意时间。 2、现场会议召开地点：无锡市新吴区张公路 19 号公司八楼会议室。 3、会议召开方式：现场方式与网络相结合的方式。 4、会议召集人：公司董事会。 5、会议主持人：公司董事长包志方先生。 本次会议的召集 ...

宝通科技 2025 年第一次临时股东大会 法律意见书 江苏世纪同仁律师事务所 关于无锡宝通科技股份有限公司 2025 年第一次临时股东大会的法律意见书 致：无锡宝通科技股份有限公司 根据《中华人民共和国公司法》、《中华人民共和国证券法》和中国证券监 督管理委员会《上市公司股东会规则》等法律、法规和规范性文件以及《无锡宝 通科技股份有限公司章程》（以下简称"《公司章程》"）的规定，江苏世纪同 仁律师事务所（以下简称"本所"）受贵公司董事会的委托，指派本所律师出席 贵公司 2025 年第一次临时股东大会，并就本次股东大会的召集、召开程序、出 席会议人员资格、召集人资格、表决程序以及表决结果的合法有效性等事项出具 法律意见。 为出具本法律意见书，本所律师对本次股东大会所涉及的有关事项进行了审 查，查阅了相关会议文件，并对有关问题进行了必要的核查和验证。 本所律师同意将本法律意见书随贵公司本次股东大会决议一并公告，并依法 对本法律意见书承担相应的责任。 本所律师根据相关法律、法规和规范性文件的要求，按照律师行业公认的业 务标准、道德规范和勤勉尽责精神，出具法律意见如下： 经查，贵公司在规定时间内刊登了会议通知。 2、 ...

证券代码：300031 证券简称：宝通科技 公告编号：2025-039 无锡宝通科技股份有限公司 关于 2020 年股票期权激励计划部分股票期权 注销完成的公告 本公司及其董事会全体人员保证公告内容真实、准确和完整，公告不存在 虚假记载、误导性陈述或者重大遗漏。 鉴于公司2020年股票期权激励计划中有13人首次授予激励对象因个人原因 离职，均已不具备激励对象任职条件，公司将对上述激励对象已获授但尚未行权 的股票期权合计 84,600 份进行注销。 鉴于公司 2020 年股票期权激励计划第三个行权期注销事宜中存在 1 名已经 离职员工因公司前期碎股四舍五入调整应当注销的股票期权剩余 1 份未注销，本 次将同时注销前述应当注销的股票期权。 鉴于公司 2020 年股票期权激励计划中第四个等待期内，因考评结果标准系 数未达到 1.0 的人员，已获授但尚未行权共 249,113 份股票期权不得行权，该部 分股票期权由公司予以注销。 鉴于公司 2020 年股票期权激励计划首次授予部分第四个行权期的实际可行 权期限为 2024 年 9 月 13 日至 2025 年 5 月 30 日止。截至 2025 年 5 月 30 日， ...

Group 1 - The company responded to an investor inquiry regarding the new game "Fantasy Awakening," stating that it is not currently available and urging investors to be cautious about investment risks [2]

Financial Performance - The company's total revenue for the first half of 2025 was 1.607 billion yuan, a decrease of 6.32% year-on-year [1] - The net profit attributable to shareholders was 140 million yuan, down 26.73% year-on-year [1] - The gross profit margin was 38.95%, a decline of 8.56% compared to the previous year [1] - The net profit margin was 9.25%, down 27.80% year-on-year [1] - Total expenses (selling, administrative, and financial) amounted to 427 million yuan, accounting for 26.58% of revenue, an increase of 16.95% year-on-year [1] Balance Sheet Highlights - The company's accounts receivable reached 844 million yuan, representing an increase of 8.26% year-on-year [1] - Interest-bearing liabilities were 859 million yuan, up 16.17% year-on-year [1] - Cash and cash equivalents stood at 1.356 billion yuan, a rise of 14.30% year-on-year [1] - The net asset value per share was 9.54 yuan, an increase of 4.75% year-on-year [1] Operational Insights - The company's return on invested capital (ROIC) was 4.99%, indicating weak capital returns [2] - The company has a history of cyclical performance, with a median ROIC of 9.31% over the past decade [2] - The company relies heavily on research and marketing for its business performance [2] Accounts Receivable Concerns - The accounts receivable to net profit ratio reached 402.27%, raising concerns about cash flow management [3] Business Development - The company has made significant progress in its robotics business, particularly with a major order from BHP, the world's largest mining group [4] - The collaboration with BHP involves the development of quadruped and biped robots, marking a breakthrough in industrial applications [4]

Market Overview - On August 29, the gaming sector rose by 1.54%, led by Xinghui Entertainment, while the Shanghai Composite Index closed at 3857.93, up 0.37% [1] - The Shenzhen Component Index closed at 12696.15, up 0.99% [1] Top Gainers in Gaming Sector - Xinghui Entertainment (300043) closed at 5.25, up 5.85% with a trading volume of 2.2598 million shares and a transaction value of 1.194 billion [1] - ST Huaton (002602) closed at 15.53, up 5.00% with a trading volume of 1.6222 million shares and a transaction value of 2.476 billion [1] - Youzu Interactive (002174) closed at 66.91, up 4.55% with a trading volume of 670,000 shares and a transaction value of 1.133 billion [1] Top Losers in Gaming Sector - Glacier Network (300533) closed at 43.45, down 4.84% with a trading volume of 253,100 shares [2] - Shengtian Network (300494) closed at 15.10, down 3.64% with a trading volume of 482,400 shares [2] - Fuchun Co. (300299) closed at 6.96, down 3.33% with a trading volume of 441,500 shares [2] Capital Flow Analysis - The gaming sector experienced a net outflow of 481 million from major funds, while retail investors saw a net inflow of 505 million [2] - The net outflow from speculative funds was 24.3461 million [2] Individual Stock Capital Flow - Kunlun Wanwei (300418) had a net inflow of 330 million from major funds, but a net outflow of 1.57 billion from speculative funds [3] - ST Huaton (002602) saw a net inflow of 180 million from major funds, with a net outflow of 1.27 billion from speculative funds [3] - Youzu Interactive (002174) had a net inflow of 133 million from major funds, but a net outflow of 48.7022 million from speculative funds [3]

Group 1 - The company Baotong Technology (SZ 300031) held its sixth board meeting on August 28, 2025, to review the 2025 semi-annual report and summary [1] - For the year 2024, the revenue composition of Baotong Technology is as follows: 56.5% from conveyor belt manufacturing and services, and 43.5% from mobile game operations [1]