证券代码：300494 证券简称：盛天网络 公告编号：2025-037 湖北盛天网络技术股份有限公司（以下简称"公司"）第五届董事会第十次会议 于 2025 年 8 月 26 日（星期二）在公司会议室以现场结合通讯的方式召开。会议通知 已于 2025 年 8 月 20 日通过邮件的方式送达各位董事。本次会议应出席董事 7 人，实 际出席董事 7 人，其中董事孟军梅、杜耀文、陈爱斌通讯参会。 会议由董事长赖春临女士主持，部分高级管理人员列席。会议召开符合有关法律、 法规、规章和《公司章程》的规定。经各位董事认真审议，会议形成了如下决议： 二、董事会会议审议情况 湖北盛天网络技术股份有限公司 第五届董事会第十次会议决议公告 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。 一、董事会会议召开情况 （一）审议通过《2025 年半年度报告及摘要》 具体内容详见公司披露于巨潮资讯网（http://www.cninfo.com.cn）的相关公告。 本事项已经公司第五届董事会审计委员会审议并取得了明确同意的意见。 表决结果：7 票同意，0 票反对，0 票弃权，本议案通过。 （ ...

Meeting Overview - The fifth meeting of the board of directors of Hubei Shengtian Network Technology Co., Ltd. was held on August 26, 2025, with all 7 directors present, including some participating via communication [1][2]. Resolutions Passed - The board approved the 2025 semi-annual report and summary, which has been reviewed and agreed upon by the audit committee [1][2]. - The board approved an increase in the estimated daily related party transaction limit for 2025 by 715,800 yuan, bringing the total estimated related party procurement amount to 943,400 yuan, while the estimated related sales amount remains unchanged at 28,966,700 yuan, resulting in a total daily related transaction amount not exceeding 29,910,100 yuan [2][3]. - The board approved the 2025 semi-annual fundraising storage and usage report [3]. - The board approved the report on non-operating fund occupation and other related fund transactions for the first half of 2025 [3]. - The board approved the use of self-owned funds to pay part of the investment project funds and to subsequently replace them with equivalent fundraising amounts [3].

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance and growth potential [1] Financial Performance - The company's operating revenue for the first half of 2025 reached 633 million, representing a year-on-year growth of 17.23% [1] - The net profit attributable to shareholders was 52.3043 million, showing a remarkable year-on-year increase of 1186.02% [1] Dividend Policy - The company announced that it will not distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

Core Viewpoint - The company reported a significant increase in revenue and net profit for the first half of 2025, indicating strong financial performance [1] Financial Performance - The company's operating revenue for the first half of 2025 reached 633 million yuan, representing a year-on-year growth of 17.23% [1] - The net profit attributable to shareholders was 52.3043 million yuan, showing a remarkable year-on-year increase of 1186.02% [1] Dividend Policy - The company announced that it will not distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

Group 1 - The company reported a revenue of 633 million yuan for the first half of 2025, representing a year-on-year growth of 17.23% [1] - The net profit for the same period was 52.3043 million yuan, showing a significant year-on-year increase of 1,186.02% [1] - The company announced that it will not distribute cash dividends, issue bonus shares, or increase share capital from reserves [1]

a XX 4 公告编号 (2025-036) 湖北盛天网络技术股份有限公司 2025年半年度报告 证券简称: 盛天网络 证券代码: 300494 湖北盛天网络技术股份有限公司 2025 年半年度报告 所有董事均已出席了审议本报告的董事会会议。 本公司请投资者认真阅读本报告全文，并特别注意重点市场竞争加剧导致的业务压力、 AI 技术研发与应用不及预期的风险、游戏出海的政策与文化适配风险、云游戏平台建设不达 预期、行业竞争加剧的风险。本半年度报告涉及的未来计划、发展战略等前瞻性描述不构成 公司对投资者的实质承诺。 公司计划不派发现金红利，不送红股，不以公积金转增股本。 1 湖北盛天网络技术股份有限公司 2025 年半年度报告 目 录 第一节 重要提示、目录和释义 重要提示 本公司董事会及董事、高级管理人员保证半年度报告内容的真实、准确、完整，不存在 虚假记载、误导性陈述或者重大遗漏，并承担个别和连带的法律责任。 本公司董事长兼总经理赖春临、财务负责人王俊芳及会计机构负责人(会计主管人员)张 慧声明：保证本半年度报告中财务报告的真实、准确、完整。 | 第一节 重要提示、目录和释义……………………………………………… ...

Market Performance - Global markets continued to rise last week, with MSCI Global up by 1.5%, MSCI Developed up by 1.5%, and MSCI Emerging up by 1.3%[3] - The US stock market's earnings expectations for 2025 were revised upward, with the S&P 500 EPS forecast increased from 268 to 269[4] Economic Expectations - Global economic expectations were adjusted upward, with the Citigroup Economic Surprise Index for the US rising due to dovish signals from the Fed[4] - The issuance of new special bonds by local governments reached 2392.7 billion CNY, a year-on-year increase of 76.7%[19] Industry Insights - In the home appliance sector, TCL Electronics reported a total revenue of 54.777 billion HKD for H1 2025, a year-on-year increase of 20.4%[15] - The gaming industry saw a record high of 166 domestic game approvals in August, with a total of 1050 approvals in the first eight months of 2025, significantly higher than the previous year's 850[31] Investment Recommendations - In the home appliance sector, recommended stocks include Stone Technology and Ecovacs for their strong performance and growth potential[14] - For the construction industry, low valuation high-dividend companies such as China State Construction and China Railway Construction are recommended due to their expected benefits from PPP policy catalysts[39]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [13]. Core Viewpoints - The company has established a diversified business system covering platforms, games, and social interactions, with a solid foundation in the internet cafe management platform and a focus on AI and social gaming to expand its market potential [4][9]. Summary by Sections Company Overview - The company started as an internet cafe management platform and has gradually developed into a scene-based pan-entertainment platform, with a multi-faceted business system that includes platform services, gaming, and social interactions [4][9]. Platform Business - The internet cafe industry is expected to grow steadily, with the online service industry projected to increase from approximately 50 billion in 2023 to around 90 billion by 2024. The company's platform, 易乐游, holds a leading position in the market with a market share of 32.7% as of 2018 [10][66]. Gaming Business - The gaming segment is anticipated to see stable growth, with existing IP games maintaining strong performance and new titles like "真·三国无双 天下" expected to launch in 2025. The self-developed game "星之翼" has shown promising results, indicating the company's capability in game development [11][39]. Social Business - The company has a competitive edge in the social gaming sector with products like "带带电竞" and "给麦," which leverage AI to enhance user experience and create diverse monetization opportunities. The potential for overseas expansion in AI social products is also highlighted [12][39]. Financial Analysis - The company experienced a revenue decline of 14.56% in 2024, attributed to the absence of new IP games and a slight decrease in revenue from major products. However, a significant recovery was noted in Q1 2025, with a revenue growth of 24.16% [33][39]. Future Outlook - The company is expected to see a turning point in performance in 2025, driven by stable revenue from existing games and growth in social products. The forecasted net profits for 2025-2027 are 152 million, 202 million, and 245 million respectively, with corresponding EPS of 0.31, 0.41, and 0.50 [13][39].

Core Viewpoint - The gaming sector is experiencing a strong performance, with significant approval of new game licenses, indicating a high level of industry vitality and potential for investment opportunities [1]. Industry Summary - On August 26, gaming stocks such as Gigabit, Kying Network, Giant Network, Perfect World, and ShengTian Network saw gains, with the gaming ETF (159869) rising over 2.5% [1]. - The National Press and Publication Administration announced the approval of 173 games in August 2025, comprising 166 domestic and 7 imported games, marking a new high for the year [1]. - GF Securities highlighted the sustained high prosperity of the gaming industry, suggesting that improvements in domestic policies and changes in overseas industry trends could enhance valuation opportunities [1]. Company Summary - Tencent's gaming fundamentals are showing marginal improvement, with "Delta Action" expected to become a third long-lasting game alongside "Honor of Kings" and "Peace Elite" [1]. - NetEase's "Dream Journey" PC version is experiencing a revival due to a new version release [1]. - The integration of AI technology is expected to enhance the industry, with multimodal AI models and Agent tools likely to improve advertising material generation efficiency, impacting marketing, education, and gaming sectors [1]. - The gaming sector is poised for multiple catalysts, including AI, content, and commercialization model transformations, with the gaming ETF (159869) tracking the performance of A-share listed companies in the animation and gaming industry [1].

Market Performance - The gaming sector increased by 3.01% on August 22, with Kunlun Wanwei leading the gains [1] - The Shanghai Composite Index closed at 3825.76, up 1.45%, while the Shenzhen Component Index closed at 12166.06, up 2.07% [1] Individual Stock Performance - Kunlun Wanwei (300418) closed at 44.38, up 20.01% with a trading volume of 2.1688 million shares and a transaction value of 9.047 billion [1] - Shunwang Technology (300113) also saw a rise of 20.00%, closing at 27.24 with a trading volume of 866,700 shares [1] - Other notable performers included ST Dazheng (600892) with a 5.07% increase, and Zhejiang Shuju Culture (600633) with a 3.77% increase [1] Capital Flow Analysis - The gaming sector experienced a net inflow of 1.491 billion in main funds, while retail investors saw a net outflow of 637 million [2][3] - Main funds showed significant interest in Kunlun Wanwei with a net inflow of 1.28 billion, while retail investors had a net outflow of 400 million [3] ETF Performance - The Gaming ETF (product code: 159869) tracked the China Securities Animation and Gaming Index, with a recent five-day increase of 2.53% and a net inflow of 21.067 million [5] - The Food and Beverage ETF (product code: 515170) saw a five-day increase of 3.13% but experienced a net outflow of 23.49 million [5]