国信证券股份有限公司研究员张衡2023年5月4日发布研报《汤姆猫：头部游戏IP运营商AIGC场景落地 优势显著》称，首次覆盖予以汤姆猫"增持"评级。 中国经济网北京12月3日讯汤姆猫（300459）(300459.SZ)今日收报4.70元，跌幅3.29%。 2023年5月4日，汤姆猫盘中达到近8年高点9.47元。 ...

Core Viewpoint - Tom Cat (300459.SZ) closed at 4.96 yuan, with a decline of 3.31% on November 27, 2023 [1] Group 1: Stock Performance - On May 4, 2023, Tom Cat reached a nearly 8-year high of 9.47 yuan during intraday trading [2] - The stock has experienced a significant decline since its peak earlier in the year [1][2] Group 2: Analyst Coverage - Guosen Securities analyst Zhang Heng initiated coverage on Tom Cat on May 4, 2023, with a "Buy" rating, highlighting the company's advantages in AIGC scenario implementation [2]

Market Overview - On November 26, the gaming sector declined by 0.73% compared to the previous trading day, with Fuchun Co. leading the decline [1] - The Shanghai Composite Index closed at 3864.18, down 0.15%, while the Shenzhen Component Index closed at 12907.83, up 1.02% [1] Individual Stock Performance - Fuchun Co. (300299) saw a significant drop of 11.11%, closing at 8.08, with a trading volume of 2.0971 million shares and a turnover of 1.757 billion [2] - Other notable declines included Tom Cat (300459) down 3.75% and Glacier Network (300533) down 2.96% [2] - Conversely, Xunyou Technology (300467) increased by 2.99%, closing at 26.51, with a trading volume of 1.374 million shares and a turnover of 364 million [1][2] Capital Flow Analysis - The gaming sector experienced a net outflow of 2.028 billion from institutional investors, while retail investors saw a net inflow of 1.578 billion [2] - Notably, Xunyou Technology had a net inflow of 24.92 million from institutional investors, while ST Kaiven (002425) experienced a net outflow of 4.5925 million [3]

Group 1 - The satellite internet concept is active in the market, with companies like 雷科防务 (Leike Defense) achieving three consecutive trading limits, and 达华智能 (Dahua Intelligent) and 特发信息 (TeFa Information) rising over 7% [2] - The Ministry of Industry and Information Technology has announced the organization of commercial trials for satellite IoT services, which is driving interest in related stocks [2] - The gaming sector is experiencing a downturn, with 富川股份 (Fuchuan Co.) dropping over 4%, and other companies like 汤姆猫 (Tom Cat) and 星辉娱乐 (Star Shine Entertainment) also declining [2][3] Group 2 - The A-share market opened with all three major indices declining slightly, with the Shanghai Composite Index down 0.07% to 3867.43 points, the Shenzhen Component Index down 0.06% to 12769.93 points, and the ChiNext Index down 0.14% to 2976.70 points [3] - Energy metals, engineering machinery, and organic silicon concepts are performing well, while the 中船系 (China Shipbuilding System) sector is leading the decline [3] - The Hong Kong market opened positively, with the Hang Seng Index up 0.59% and the Hang Seng Tech Index up 0.67%, driven by a recovery in the lithium battery supply chain and pharmaceutical stocks [4]

11月25日，汤姆猫涨5.17%，截至发稿，报5.49元/股，成交20.41亿元，换手率11.75%，总市值193.02亿 元。汤姆猫股价已经连续3天上涨，区间累计涨幅8.07%。 资料显示，浙江金科汤姆猫文化产业股份有限公司位于浙江省杭州市萧山区钱江世纪城平澜路299号浙 江商会大厦36层，成立日期2007年6月12日，上市日期2015年5月15日，公司主营业务涉及移动互联网文 化产业。主营业务收入构成为：广告业务72.41%，新商业服务业务11.19%，移动应用发行收入 10.70%，其他2.64%，授权业务2.34%，其他(补充)0.72%。 从汤姆猫十大流通股东角度 数据显示，南方基金旗下1只基金位居汤姆猫十大流通股东。南方中证1000ETF（512100）三季度减持 31.23万股，持有股数3216.02万股，占流通股的比例为0.98%。根据测算，今日浮盈赚取约868.33万元。 连续3天上涨期间浮盈赚取1254.25万元。 南方中证1000ETF（512100）成立日期2016年9月29日，最新规模766.3亿。今年以来收益21.59%，同类 排名1964/4206；近一年收益20.2%，同类排名 ...

Group 1 - The A-share market experienced a collective adjustment, with active sectors including the China Shipbuilding system and military equipment, while battery, energy metals, and silicon energy sectors faced corrections [1] - Huawei is set to unveil an AI computing power scheduling technology at the 2025 World Computing Conference in Changsha, which aims to enhance hardware utilization rates from the industry average of 30%-40% to 70%, effectively doubling hardware efficiency [1] - This technology supports multiple chip brands, including Nvidia and Ascend, and is expected to drive the integration of China's AI infrastructure from chips to systems, becoming a key support for autonomous and controllable AI infrastructure [1] Group 2 - Bohai Securities highlighted the Ministry of Industry and Information Technology and the State Administration for Market Regulation's joint issuance of the "Electronic Information Manufacturing Industry 2025-2026 Stable Growth Action Plan," which emphasizes the promotion of domestic products and increased policy support for key enterprises in the industrial chain [2] - With the implementation of supporting funds and the improvement of policy standards, the bidding rhythm in the trusted computing field is expected to accelerate significantly [2] - Under the national policy promoting technological self-reliance, core sectors such as domestic computing power, operating systems, and databases are anticipated to enter a golden development period [2]

Core Points - Tom Cat's stock price increased by 2.15% to 4.76 CNY per share as of November 17, with a total market capitalization of 16.735 billion CNY [1] - The company has experienced a year-to-date stock price decline of 17.07%, but has seen a slight increase of 1.93% over the last five trading days [1] - Tom Cat's main business revenue composition includes 72.41% from advertising, 11.19% from new commercial services, and 10.70% from mobile application distribution [1] Financial Performance - For the period from January to September 2025, Tom Cat reported a revenue of 697 million CNY, a year-on-year decrease of 19.77%, and a net profit attributable to shareholders of -43.9398 million CNY, a decline of 152.61% [2] - The company has not distributed any dividends in the last three years, with a total payout of 248 million CNY since its A-share listing [3] Shareholder Information - As of September 30, 2025, the number of shareholders decreased by 12.26% to 235,500, while the average circulating shares per person increased by 13.98% to 13,956 shares [2] - The top shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 6.5361 million shares, and Southern CSI 1000 ETF, which decreased its holdings by 312,300 shares [3]

Summary of Key Points Core Viewpoint - The A-share market experienced significant block trading activity on November 12, with a total transaction volume of 1.91 billion yuan across 66 stocks, indicating notable investor interest in specific companies [1]. Group 1: Trading Activity - The top three companies by transaction volume were Huali Group (974 million yuan), Century Huato (111 million yuan), and Chunfeng Power (77.24 million yuan) [1]. - A total of 10 stocks were traded at par value, 9 stocks at a premium, and 47 stocks at a discount [1]. Group 2: Premium and Discount Rates - The stocks with the highest premium rates were Tom Cat (18.6%), Beijing Bank (9.77%), and AVIC Chengfei (9.04%) [1]. - The stocks with the highest discount rates were Tengya Precision (23.88%), Lexin Technology (20.22%), and Wens Foodstuff (19.27%) [1]. Group 3: Institutional Buying and Selling - The ranking of institutional buying was led by Huali Group (974 million yuan), followed by Century Huato (111 million yuan) and Chunfeng Power (77.24 million yuan) [2]. - The top stocks sold by institutional investors included Century Huato (111 million yuan), followed by Hengrui Medicine (36.02 million yuan) and Haowei Group (26.44 million yuan) [2].

Group 1 - The core transaction of Tom Cat on November 12 involved a volume of 360,000 shares and a transaction amount of 2.0196 million yuan, with a transaction price of 5.61 yuan, representing a premium of 18.60% over the closing price of the day [2][3] - The closing price of Tom Cat on the same day was 4.73 yuan, reflecting an increase of 0.85%, with a turnover rate of 4.38% and a total transaction amount of 682 million yuan, indicating a net inflow of main funds amounting to 13.90 million yuan [2][3] - Over the past five days, the stock has seen a cumulative increase of 0.21%, while the total net outflow of funds during this period was 27.532 million yuan [2][3] Group 2 - The latest margin financing balance for Tom Cat is 803 million yuan, with a decrease of 2.0982 million yuan over the past five days, representing a decline of 0.26% [3] - Zhejiang Jinke Tom Cat Cultural Industry Co., Ltd. was established on June 12, 2007, with a registered capital of 3.51581 billion yuan [3]

Group 1 - The stock of Tom Cat closed at 4.73 yuan on November 12, with an increase of 0.85% [1] - A block trade occurred with a total volume of 360,000 shares and a transaction amount of 2.0196 million yuan, with a premium rate of 18.60% [1] - The buyer and seller of the block trade were both from Wanhe Securities Co., Ltd., Xiamen Qixing West Road Securities Business Department [1] Group 2 - Over the past three months, the stock has recorded one block trade with a total transaction amount of 2.0196 million yuan [1] - In the last five trading days, the stock has seen a cumulative increase of 0.21%, while the main capital has experienced a net outflow of 15.606 million yuan [1]