Industry Overview - The ChinaJoy event will take place in early August in Shanghai, featuring the inaugural China International Game Developers Conference, which will release the "One Country, One Policy" guideline for game companies' overseas expansion [1] - Shanghai's online gaming industry achieved a total sales revenue of 83.283 billion yuan in the first half of the year, marking a year-on-year growth of 10.80%, with domestic sales at 68.737 billion yuan and overseas sales at 14.546 billion yuan, growing by 10.73% and 11.12% respectively [1] - The esports industry in Shanghai generated revenue of 3.254 billion yuan, a year-on-year increase of 6.91%, with esports live streaming and event revenues leading the nation [1] Policy Support - Multiple regions have introduced new policies to support local gaming companies in their global expansion, including Guangdong's measures to guide and support game companies in leading smaller enterprises to go global [1] - Beijing is soliciting opinions on measures to support the establishment of an "Overseas Service Zone" to facilitate game exports and provide consulting services [2] - Zhejiang province has released a comprehensive policy document with 20 specific measures to support game exports, focusing on industry enhancement, platform support, ecological optimization, and resource assurance [2] Company Performance - Companies like Shunwang Technology and Kaiying Network are focusing on innovative brand promotion and overseas business expansion, respectively, with Kaiying Network reporting sustained growth in overseas revenue through targeted user engagement strategies [3] - Twelve gaming concept stocks have released half-year performance forecasts, with seven expecting positive results; ST Huatuo is projected to have the highest net profit between 2.4 billion to 3 billion yuan, reflecting a significant year-on-year increase [3] - Companies such as Youzu Network and Zhejiang Cultural are also reporting substantial profit growth, with Youzu Network's net profit expected to rise by 768.75% to 1203.13% [4]

Group 1: Company Overview - The company focuses on the esports technology, interactive entertainment, computing power, and artificial intelligence sectors, providing advanced products and technical solutions to enhance user experiences and support business innovation [2] - The company has established a strong market presence, covering over 70% of the esports service industry in China and maintaining partnerships with over 2,000 collaborators across more than 96% of cities [3] Group 2: Market Advantages - The company leverages years of experience and technological expertise to offer end-to-end solutions for upstream game manufacturers, midstream esports entities, and downstream consumers [3] - It provides AI-driven marketing services to over 95% of game manufacturers, facilitating efficient content distribution and user experience upgrades [3] Group 3: Business Developments - The 22nd ChinaJoy exhibition will take place from August 1 to 4, 2025, featuring a new "Smart Entertainment Robot" section and the "Global AI Game Developer Competition" [4] - The company has launched over 300 computing power edge data centers, serving more than 700,000 terminals, with a year-on-year growth of 21.1% in cloud terminal services [5] Group 4: IP and Brand Strategy - The company aims to enhance its brand influence through collaborations with leading IPs in culture, gaming, and animation, targeting young consumer demographics [6] Group 5: Future Development Strategy - The company plans to deepen its focus on the esports sector, innovate in cultural technology integration, and explore emerging technologies like computing power and AI to become a leader in digital services [7] Group 6: Financial Performance - In Q1 2025, the company achieved a revenue of 57,801.79 million yuan, marking a 40.25% year-on-year increase, and a net profit of 7,346.77 million yuan, up 37.48% from the previous year [8]

Summary of the Conference Call for Shunwang Technology Industry Overview - **PC Gaming Market Recovery**: The release of major titles like "Black Myth: Wukong" has generated significant attention, driving players back to PC gaming, which presents growth opportunities for companies like Shunwang Technology [2][4] - **Changes in Gaming Consumption Trends**: The gaming industry has seen a shift towards high-value experiences, with traditional models evolving to free entry and in-game purchases, contributing to the revival of the PC gaming market [6] Company Insights - **Strategic Transformation**: Shunwang Technology is focusing on offline resources such as internet cafes and esports hotels while actively expanding into emerging fields like cloud computing and AI [2][4] - **Growth in Advertising and Value-Added Services**: The relaxation of licensing policies and the increase in cross-platform games have boosted advertising and value-added services, supported by enhanced user experiences on PC [2][4] - **Innovative Products and Services**: The introduction of "X Business Manager" caters to the needs of cross-industry operations, while esports service solutions are continuously updated to optimize advertising placements for upstream game developers [2][7] Financial Performance - **Positive Business Progress in 2025**: Shunwang Technology has reported significant progress across all business segments, with a strong market performance driven by the resurgence of PC gaming [4][8] - **User Engagement and Growth**: The company has observed a notable increase in user engagement, with a rise in the number of active users and gaming hours, particularly in esports venues [10][20] Future Outlook - **Optimistic Development Prospects**: The company anticipates a favorable outlook for its main business segments, supported by the overall positive trends in the gaming and esports service industries [9][20] - **Expansion of Cloud Computing and AI**: Shunwang Technology is actively expanding its cloud computing and AI services, with a full-capacity computing pool and plans to enhance partnerships with major internet companies [10][20] Events and Brand Development - **ChinaJoy Brand Expansion**: The company is exploring various avenues to extend the ChinaJoy brand, including online content, increased exhibition frequency, and the development of derivative products [11][16] Key Metrics and Data - **Increased Demand for Offline Esports Entertainment**: The annual esports white paper indicates significant growth in internet cafe operations and gaming popularity, although specific figures are not disclosed due to privacy concerns [17] Business Model Insights - **Advertising and Value-Added Services**: The business model primarily revolves around high-margin advertising and value-added services, with expectations for continued growth in these areas [13][14] Conclusion - **Strategic Partnerships and Cost Management**: Shunwang Technology is leveraging partnerships with local operators and large franchisees to manage capital expenditures effectively while benefiting from supportive policies in the cloud computing sector [19][20]

Summary of the Conference Call for Shunwang Technology Company Overview - **Company**: Shunwang Technology - **Industry**: Gaming and Interactive Entertainment Key Points and Arguments Financial Performance - **2024 Revenue**: Expected to grow nearly 30% to 1.839 billion CNY, with net profit increasing by 48.6% to 251 million CNY [2][12] - **Revenue Breakdown**: - **Network Advertising and Value-Added Services**: 1.337 billion CNY, up 46.56% YoY, driven by the recovery of the internet café industry and the integration with esports technology [2][14] - **Gaming Business**: Revenue of 383.2 million CNY, down 3% YoY, with new projects expected to launch in Q3 [14][25] - **Exhibition Business**: Revenue of 116.5 million CNY, stable YoY, with a peak profit previously close to 100 million CNY [14] Industry Trends - **Gaming Industry Recovery**: Significant improvement in the gaming industry from May to June 2025, with high activity levels in both mobile and PC gaming [3] - **PC Gaming Revival**: Not a short-term phenomenon; the importance of PC gaming is increasing, with more multi-platform games and an increase in PC game licenses [6] - **ChinaJoy Exhibition**: Expected to innovate and reach new highs in exhibitor numbers and scale in 2025, focusing on consumer electronics and new energy vehicles [2][9][10] Market Observations - **Cloud Computing and Edge Computing**: The company is adopting a light-asset model for edge computing, collaborating with partners to control costs and plan capital expenditures [2][22][23] - **Consumer Preferences**: Players are increasingly opting for pay-per-use cloud computing services due to high graphics card prices, which is expected to continue for a long time [28] Future Outlook - **2025 Expectations**: The company anticipates continued growth in advertising and value-added services due to industry recovery, while gaming and exhibition businesses are expected to maintain stable growth [26] - **ChinaJoy Participation**: Strong interest from exhibitors, with expectations for increased attendance due to relaxed restrictions on indoor events [29] Additional Insights - **Quarterly Performance Variability**: The gaming industry has shown reduced volatility across quarters since 2024, indicating a more balanced annual performance [5] - **Emerging Trends**: The introduction of new modules at ChinaJoy, including robotics and creator zones, reflects the industry's focus on engaging younger generations [10][11] Risks and Considerations - **Profit Margin Fluctuations**: Value-added services' profit margins are subject to significant fluctuations due to product updates and server activities [21] - **Cost Implications of Edge Computing**: While edge computing may increase costs, optimizing resource allocation can mitigate these impacts [22] This summary encapsulates the key insights from the conference call, highlighting Shunwang Technology's financial performance, industry trends, market observations, future outlook, and additional insights while addressing potential risks.

Group 1: Company Performance - In 2024, the company achieved a revenue of 183,954.85 million yuan, representing a year-on-year growth of 28.37% [3] - The net profit attributable to shareholders for 2024 was 25,188.34 million yuan, with a year-on-year increase of 48.60% [3] - In Q1 2025, the company reported a revenue of 57,801.79 million yuan, showing a growth of 40.25% year-on-year [3] - The net profit attributable to shareholders in Q1 2025 was 7,346.77 million yuan, reflecting a year-on-year increase of 37.48% [3] Group 2: Market Position and Services - The company covers over 70% of the national esports service industry market and maintains good relationships with over 2,000 partners [4] - The company provides AI-driven marketing services to over 95% of game manufacturers in China, enhancing user experience and content distribution [4] - The company has established over 300 edge computing data centers by the end of 2024, serving more than 700,000 terminals, with a year-on-year growth of 21.1% in the number of cloud terminals served [9] Group 3: Industry Trends - The online service industry in China showed a comprehensive recovery in 2024, with a total of 103,600 internet service venues generating approximately 90 billion yuan in revenue [14] - The Chinese gaming market reached a scale of 857.04 billion yuan in the first half of 2025, with a year-on-year growth of 17.99% [14] - The National Press and Publication Administration issued 757 domestic game licenses and 55 imported game licenses in the first half of 2025, indicating a normalization in the issuance of game licenses [14] Group 4: Future Strategies - The company aims to enhance its core competitiveness by focusing on the esports sector and integrating cultural and technological innovations [13] - The company plans to explore emerging businesses in computing power and artificial intelligence, striving to become a leader in digital services [13] - The company emphasizes continuous investment in R&D to maintain a significant technological advantage in its main business areas [11]

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]

Group 1 - The core viewpoint is that the rise of domestic IPs is redefining the valuation of China's cultural industry, with companies focusing on multi-faceted operational strategies around IPs [1][2] - Shunwang Technology (300113.SZ) aims to leverage the ChinaJoy brand to enhance IP influence and promote collaborations with leading IPs in cultural, gaming, and animation sectors [1] - ChinaJoy has become one of the largest digital entertainment exhibitions globally, significantly contributing to the healthy and sustainable development of China's digital entertainment industry since its inception in 2003 [1] Group 2 - ChinaJoy has accumulated nearly 10 million Gen Z users over 20 years, reaching hundreds of millions of users and hosting over a thousand participating companies, including industry leaders and Fortune 500 firms [2] - The Chinese trendy toy market is projected to grow from 60 billion yuan in 2023 to 110.1 billion yuan by 2026, indicating explosive growth in domestic IPs and the importance of building an "IP ecosystem" [2] - Recent government policies encourage the integration of traditional Chinese culture into product design and support the development of original IP brands, particularly in the fields of animation, gaming, and esports [3] Group 3 - Shunwang Technology is embracing a new era driven by artificial intelligence, focusing on new technologies and applications in digital entertainment, including AIGC, AIPC, mixed reality, 5G, and cloud computing [3] - The company has been recognized as a leading enterprise in the "2024 Guzi Economy" awards, highlighting its significant contributions to the industry [3] - With the proliferation of AI applications, Shunwang Technology's self-developed Lingxi Engine and Shunwang Intelligent Computing Platform are expected to enhance efficiency and reduce costs for enterprises [3]

Core Viewpoint - The company, Hangzhou Shunwang Technology Co., Ltd., has announced its 2024 annual profit distribution plan, which includes a cash dividend of RMB 0.90 per share, totaling RMB 60,674,749.38 (including tax) for eligible shareholders [1][2][4]. Summary by Sections 1. Profit Distribution Plan - The profit distribution plan was approved at the shareholders' meeting on May 15, 2025, with a total share capital of 683,566,082 shares, excluding 9,402,200 shares held in the repurchase account [2][3]. - The cash dividend of RMB 0.90 per share (including tax) will be distributed, with no stock dividends or capital reserve transfers planned [2][4]. 2. Shareholder Eligibility - The distribution will be made to all shareholders registered with the China Securities Depository and Clearing Corporation Limited, Shenzhen Branch, as of the close of trading on June 25, 2025 [4][5]. 3. Key Dates - The record date for the profit distribution is June 25, 2025, and the ex-dividend date is June 26, 2025 [3][4]. 4. Dividend Calculation - The actual participating shares in the profit distribution will be 674,163,882 shares, leading to a fixed total cash dividend of RMB 60,674,749.38 (including tax) [2][4]. - The ex-dividend price will be adjusted based on the previous trading day's closing price minus the calculated cash dividend per share of RMB 0.0887620 [1][4].

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，不存在 虚假记载、误导性陈述或重大遗漏。 特别提示： 截至本公告披露日，杭州顺网科技股份有限公司（以下简称"公司"或"本 公司"）总股本为683,566,082股，其中回购专用证券账户所持公司股份数量为 9,402,200股，根据《中华人民共和国公司法》《深圳证券交易所上市公司自律 监管指引第9号—回购股份》等相关法律法规的规定，公司回购专用证券账户中 的股份不享有利润分配权利，因此本次实际参与权益分派的股份数量为 674,163,882股。按照"现金分红总额"固定不变的原则，公司本次实际派发现 金红利总额仍为60,674,749.38元（含税），分配比例为每10股派发现金红利0.90 元人民币（含税）。 根据股票市值不变原则，实施权益分派前后公司总股本保持不变，现金分红 总额分摊到每一股的比例将减少。因此，本次权益分派实施后除权除息价格计算 时，每股现金红利=本次实际现金分红总额÷公司总股本=60,674,749.38 元÷ 683,566,082 股=0.0887620 元/股（保留七位小数，最后一位直接截取，不四舍五入）。 证券代码：300113 ...

证券代码：300113 证券简称：顺网科技 公告编号：2025-035 杭州顺网科技股份有限公司 第六届董事会第一次会议决议公告 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。 杭州顺网科技股份有限公司（以下简称"公司"）第六届董事会第一次会议 于2025年5月30日在公司会议室以现场表决和通讯表决相结合的方式召开。全体 董事一致同意豁免本次董事会会议通知时限的要求。经过半数董事共同推举，本 次董事会会议由董事华勇先生召集和主持。本次会议应参加表决的董事5人，实 际参加表决的董事5人，会议的通知、召集、召开和表决程序符合《中华人民共 和国公司法》等法律法规以及《杭州顺网科技股份有限公司章程》（以下简称"《公 司章程》"）的有关规定，会议决议合法、有效。经全体董事认真审议，以投票 表决的方式审议通过如下决议： 提名委员会由陈旭虎先生、赵宇恒女士、虞群娥女士3名董事组成，由陈旭 1、审议通过《关于选举公司第六届董事会董事长的议案》 公司董事会同意选举华勇先生为公司第六届董事会董事长，任期三年，任 期自本次董事会审议通过之日起至公司第六届董事会任期届满之日止。 表决 ...