Summary of ShengTian Network Conference Call Company Overview - ShengTian Network is transitioning from traditional overseas marketing to a combination of ICU (Information, Community, User) and influencer marketing, particularly in high AI adoption markets like Europe, Latin America, and Russia. The company achieved a 30% growth after focusing on overseas markets starting in the second half of 2025, with expectations for accelerated growth in 2026 [2][4][7]. Key Points and Arguments Industry and Market Trends - The overseas market shows significant demand for AI applications, especially in regions with strong payment habits like Europe and emerging markets such as Latin America and Russia [4][7]. - The company anticipates a gradual shift to a fully paid model in the domestic market, leveraging tool applications to enhance user engagement through social features [2][7]. Product Development and IP Strategy - ShengTian Network's original IP, "Star Wings," has performed exceptionally well in Japan, leading to collaborations with local manufacturers for merchandise. The company plans to continue developing this IP and introduce easier versions to expand its user base [2][6]. - The company aims to extend the lifecycle of its games and diversify game types and characters to create enduring IPs. For instance, the DLC for "National Legend" has maintained high user interest and engagement [8]. AI Product Growth - The AI music product, which competes with Suno, has shown rapid growth, with a monthly increase of 20%-30% recently. The current revenue is in the hundreds of thousands, with a goal to enter the top five and achieve a GMV of one million or more [3][9]. - ShengTian Network is also developing other AI products, including general AGI, AI image platforms, AI fortune-telling, and AI social applications, with expectations for traffic generation in 2026 [9]. Competitive Advantage - The Chinese overseas team has a strong competitive edge in the global AI application market, with 40%-50% of the top 20 or 30 applications developed by Chinese teams. The company emphasizes its understanding of user needs and the importance of lowering barriers to use and optimizing interactions with large models [10][11]. Future Projects and Expectations - The "New Wings" project will focus on the Japanese market, enhancing character offerings and increasing event activities to broaden audience reach. New games based on "New Wings" will be developed to attract a wider user base [12]. - "Dynasty Warriors 8" is expected to launch by the second quarter of 2026, with a focus on balancing gameplay and enhancing user experience to extend the game's lifecycle and encourage ongoing payments [13]. - There are high expectations for the continued growth of AI music products and the successful commercialization of other AI applications, as well as the performance of upcoming games like "Dynasty Warriors 8" and the expansion of the "New Wings" project [14]. Additional Important Insights - The company maintains a high gross margin, which has not decreased despite growth in scale [5]. - The strategic focus on user engagement and product iteration is seen as crucial for maintaining competitive advantages in both AI applications and gaming [4][11].

Investment Rating - The industry investment rating is "Positive" and maintained [7] Core Insights - The new game cycle in January continues with several products like "Duck Duck Goose" and "Heart Town" launching successfully. The trend of Chinese games going overseas remains strong, with leading companies like Dd and others showing impressive performance. The industry is expected to see a series of new game launches, leading to continuous catalysts [2][4] - The gaming sector's product cycle in 2026 shows strong sustainability and performance certainty, indicating room for valuation improvement. It is recommended to continue focusing on investment opportunities in the gaming sector, with relevant companies including Giant Network, Kaiying Network, Perfect World, 37 Interactive, G-bits, Yaoji Technology, Shengtian Network, Tencent Holdings, and Xindong Company [2][4] Summary by Sections New Game Launches - The January new game cycle has seen successful launches, including "Duck Duck Goose," which has gained significant popularity, and "Heart Town," which topped the global free charts in over 50 regions during its pre-download phase [2][4] - The performance of these new games validates the importance of global expansion and social interaction as growth engines in the gaming industry, with a strategy of "evergreen games + globalization" becoming key for leading companies [10] Overseas Market Performance - The overseas gaming market continues to thrive, with Dd's "Whiteout Survival" achieving over $4 billion in global revenue by December 2025. Other games like "Tasty Travels: Merge Game" and "Truck Star" have also shown strong performance in the overseas market [10] Future Game Releases - Upcoming game releases include Tencent's "Counter-Strike: Future" on January 13, "Rock Kingdom: World" on March 26, and several others from various companies, indicating a busy launch schedule that may catalyze further industry growth [10]

Group 1 - The core announcement is that ShengTian Network (300494) has repurchased a total of 3,290,860 shares, which represents 0.67% of the company's current total share capital [1]

Summary of Key Points Core Viewpoint - The company, ShengTian Network (300494.SZ), has announced a share buyback program, indicating a strategic move to enhance shareholder value through the repurchase of its own shares [1] Group 1: Share Buyback Details - As of December 31, 2025, the company has repurchased a total of 3,290,860 shares, which represents 0.67% of the current total share capital [1] - The highest transaction price for the repurchased shares was 13.27 CNY per share, while the lowest was 9.52 CNY per share [1] - The total amount spent on the share buyback was 35,997,169.00 CNY, excluding transaction fees [1]

证券代码：300494 证券简称：盛天网络 公告编号：2026-001 湖北盛天网络技术股份有限公司 关于回购公司股份的进展公告 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。 湖北盛天网络技术股份有限公司（以下简称"公司"）于 2025 年 4 月 7 日召开 第五届董事会第七次会议，审议通过了《关于回购公司股份方案的议案》，公司拟使 用自有或自筹资金以集中竞价交易方式回购公司部分社会公众股股份。本次回购价格 的上限为人民币 20 元/股，本次用于回购的资金总额不低于人民币 3,500 万元且不超 过人民币 5,000 万元（均含本数），本次具体回购资金总额以实际使用的资金总额为 准。本次回购股份的用途为实施股权激励或员工持股计划，若公司未能在股份回购完 成后的 36 个月内用于上述用途，未使用部分将予以注销。具体内容详见于公司于 2025 年 4 月 7 日、2025 年 4 月 10 日在巨潮资讯网（www.cninfo.com.cn）上披露的《关于 回购股份方案的公告》（公告编号：2025-004）、《回购报告书》（公告编号：2025-006）。 根据 ...

Investment Rating - The industry rating is "Outperform the Market," indicating that the overall return of the industry is expected to exceed the market benchmark index by more than 5% in the next 6 months [17]. Core Insights - The report highlights significant advancements in AI gaming, particularly with the introduction of playable AI NPCs by Ubisoft, which allows players to interact with AI teammates in a dynamic gaming environment [3]. - The emergence of commercial products based on AI world models, such as Marble by World Labs and Tencent's mixed reality model, showcases the potential for creating immersive 3D worlds using generative AI [4]. - The development of AI game creation tools, like YouTube's Playables Builder, is democratizing game development by enabling users to create games without programming knowledge [4][5]. Summary by Sections AI NPC Development - Ubisoft launched a playable demo of AI NPCs named "Teammates," where players can command AI teammates using natural language, powered by Google's Gemini and Ubisoft's middleware [3]. AI World Models - Companies like Google DeepMind and Tencent are advancing in AI world models, with Tencent's mixed reality model allowing users to create interactive worlds from text or images [4]. AI Game Creation Tools - YouTube is testing an AI game creation tool, Playables Builder, which allows users to create games using simple text and media inputs, currently in testing phases in select markets [4]. - The AI game creation platform SOON by Kaiying Network integrates generative AI to streamline complex game development processes, significantly lowering technical barriers and costs [5]. Investment Recommendations - The report suggests focusing on companies related to gaming, including Tencent, NetEase, Bilibili, Giant Network, and others, as potential investment opportunities [6].

湖北盛天网络技术股份有限公司 2025 年第一次临时股东会决议公告 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。 特别提示： 1、本次股东会无增加、变更、否决议案的情形； 2、本次股东会不涉及变更前次股东会决议； 3、本次股东会以现场投票和网络投票相结合的方式召开； 证券代码：300494 证券简称：盛天网络 公告编号：2025-056 4、为尊重中小投资者利益，提高中小投资者对公司股东会决议事项的参与 度，本次股东会对中小投资者进行单独计票，中小投资者是指除上市公司董事、 监事、高级管理人员以及单独或者合计持有公司 5%以上股份的股东以外的其他 股东。 一、会议召开基本情况 1．会议召集人：公司董事会 2．会议召开方式：现场会议、网络投票 3．会议召开日期、时间：2025 年 12 月 30 日 （1）现场会议时间：2025 年 12 月 30 日（星期二）下午 15:00； （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具体时间为 2025 年 12 月 30 日上午 9:15-9:25、9:30-11:30，下午 13:00-15:00 ...

湖北好律律师事务所 关于湖北盛天网络技术股份有限公司 2025 年第一次临时股东会的 法律意见 湖北好律律师事务所 HUBEI EXCELLENT LAWYER LAW FIRM 二〇二五年十二月 湖北好律律师事务所 湖北好律律师事务所 关于湖北盛天网络技术股份有限公司 2025 年第一次临时股东会的 法律意见 编号：（2025）鄂好律意字第 0023 号 致：湖北盛天网络技术股份有限公司 议审议的议案内容以及这些议案所表述的事实或数据的真实性及准 确性发表意见。 本法律意见仅供盛天网络本次股东会相关事项的合法性之目的 使用，不得用作任何其他目的。 基于上述，本所律师根据法律法规及规范性文件的规定，按照律 师行业公认的业务标准、道德规范和勤勉尽责的精神，对盛天网络所 提供的相关文件和有关事实进行了核查和验证，现发表法律意见如下： 一、本次股东会的召集、召开程序 湖北好律律师事务所受湖北盛天网络技术股份有限公司（以下简 称"盛天网络"或"公司"）委托，指派我所涂娴律师、张典律师（以 下简称"本所律师"）出席盛天网络于 2025 年 12 月 30 日在公司会 议室召开的 2025 年第一次临时股东会（以下简称" ...

Group 1 - The company, ShengTian Network, announced that it will hold its first extraordinary general meeting of shareholders for 2025 on December 30, 2025 [2]

证券代码：300494 证券简称：盛天网络 公告编号：2025-055 湖北盛天网络技术股份有限公司 关于召开 2025 年第一次临时股东会的提示性公告 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。 湖北盛天网络技术股份有限公司（以下简称"公司"）于 2025 年 12 月 11 日在巨潮资讯网 （http://www.cninfo.com.cn）披露《关于召开 2025 年第一次临时股东会的通知》（公告编号：2025- 053），决定于 2025 年 12 月 30 日召开公司 2025 年第一次临时股东会。为保护投资者权益，方便公司 股东行使股东会表决权，现将本次会议有关事项提示如下： 一、召开会议的基本情况 （2）网络投票时间：通过深圳证券交易所系统进行网络投票的具体时间为 2025 年 12 月 30 日 9:15-9:25，9:30-11:30，13:00-15:00；通过深圳证券交易所互联网投票系统投票的具体时间为 2025 年 12 月 30 日 9:15 至 15:00 的任意时间。 5、会议的召开方式：现场表决与网络投票相结合。 6、会议的 ...