Investment Rating - The industry investment rating is "Positive" (maintained) [2] Core Viewpoints - The report highlights the continuous advancements in AI and gaming sectors, with major companies like Alibaba and Tencent increasing their investments in AI applications and gaming [5][6] - The launch of the AI Agent product Manus by the startup Monica is seen as a significant development, potentially marking the beginning of a new era for general AI agents [5] - The report suggests a comprehensive investment strategy in AI, recommending key companies such as Tencent Holdings and Kuaishou-W, with beneficiaries including Alibaba-W and Kunlun Wanwei [5] Summary by Sections Industry Data Overview - The game "Eternal Night" ranked first on the iOS free chart in mainland China, while "Honor of Kings" maintained its position as the top-grossing game [11] - The film "Nezha: The Devil's Child" achieved the highest box office for the week, grossing 3.16 billion CNY, with a cumulative box office of 146.03 billion CNY [28] Industry News Overview - Major companies like Tencent and Alibaba are releasing new products, with "Enola Holmes" being a significant winner at the Oscars [37] - Tencent's mixed yuan has released and open-sourced a video generation model, enhancing capabilities for creating high-quality videos and animations [37] Market Performance - The A-share media sector outperformed the broader market in the 10th week of 2025, with the gaming sector showing strong performance [10] - The report indicates that the gaming sector has achieved the highest excess returns compared to the media index [10] Company Recommendations - For general AI and large models, the report recommends Tencent Holdings and Kuaishou-W, with beneficiaries including Alibaba-W and Kunlun Wanwei [5] - In vertical AI applications, key recommendations include ShengTian Network and AoFei Entertainment for AI virtual companionship, and Shanghai Film and Mango Super Media for AI in film [5]

证券时报网讯，盛天网络2月20日在投资者互动平台表示，公司与Rokid（灵伴科技）在XR领域保持密 切合作，双方基于"内容+硬件"协同模式，在游戏频道共建、AR内容适配等领域形成技术积累。 公司云游戏平台随乐游已接入Rokid生态，为Rokid设备定制专用版本，并完成了虚拟手柄操控、游戏存 档系统等核心模块优化。 目前正推进3DoF虚拟操控方案研发，持续探索XR场景交互创新，未来双方也将共同探讨游戏和场景娱 乐相关的业务切入点。 ...

Summary of Conference Call Notes Company and Industry Overview - The conference call discusses **ShengTian Network**, focusing on its integration of AI technology into gaming and social applications, particularly in the context of mini-games and social platforms [2][3]. Key Points and Arguments AI Integration and Innovations - ShengTian Network has established an **AI laboratory** to incorporate AI applications into all employee KPIs, aiming to enhance productivity, R&D capabilities, and product performance [2][5]. - The company is actively exploring the use of **open-source and closed-source large models** in its products, with a strong emphasis on data security, particularly in Chinese language pre-training [2][5]. Social Business Developments - The core products in the social business are **"DaiDai"** and **"GeiMai,"** which have stable revenue and profit. In 2025, the company plans to launch **virtual companionship** and **virtual play** features to enhance user engagement and monetization [2][6]. - New features such as **music greeting cards** and **horoscope games** are set to be introduced to increase user activity and payment rates [2][6]. Game Publishing Achievements - The game **"New Wings"** launched overseas in November 2024 has performed exceptionally well, with nearly **70%** of revenue coming from Japan, achieving over **10 million** in revenue for two consecutive months. The company plans to expand into South Korea and Southeast Asia in 2025, expecting to maintain over **100 million** in revenue with high profit margins [2][7]. Future Plans and Product Development - ShengTian Network is developing a **social platform** that will integrate multiple AI mini-games and applications, providing AI companionship features to enhance user experience [2][8]. - The upcoming game **"Dynasty Warriors 8"** is the first self-developed large IP fighting game, with plans for three different types of fighting games to be online simultaneously next year [2][8][9]. Financial Performance and Strategy - The company reported a recovery in the fourth quarter for the strategy game **"Three Kingdoms Strategy Edition,"** which has a long lifecycle. The overall loss for the year was primarily due to credit and goodwill impairments, but operational stability and cash flow remain strong [2][10]. - The company plans to focus on specific niches to achieve greater specialization and leadership, having set aside underperforming products and made impairment arrangements to streamline operations [2][13]. Additional Important Insights - The **DeepSeek** model, an open-source large model, is expected to significantly reduce costs and enhance innovation within the company, aligning with its internal culture [4][5]. - The company is testing various large models for integration into its products, emphasizing the importance of operational details and innovative applications to maintain a competitive edge [2][18]. - During the Spring Festival, user data for **GeiMai** showed growth, while **DaiDai** experienced a slight decline due to seasonal factors. The introduction of AI companionship features is anticipated to boost user engagement and revenue [2][17]. This summary encapsulates the key developments and strategic directions of ShengTian Network as discussed in the conference call, highlighting its focus on AI integration, social and gaming innovations, and financial strategies.

Financial Performance - The company expects a net loss of between 190 million and 280 million yuan for the fiscal year 2024, compared to a profit of 169.35 million yuan in the same period last year [3]. - The net profit after deducting non-recurring gains and losses is projected to be a loss of between 201.65 million and 291.65 million yuan, down from a profit of 160.62 million yuan in the previous year [3]. - The decline in performance is primarily due to significant changes in the operations of its wholly-owned subsidiary, Shanghai Tianxi Interactive Network Technology Co., Ltd., including a drop in revenue from launched products and the termination of a joint development project for the IP game "Age of Sail: Sea Overlord" due to market conditions [5]. Impairment and Provisions - The company plans to recognize an impairment provision for goodwill amounting to 203.84 million yuan based on actual operating conditions and relevant accounting standards [6]. - The company conducted impairment tests on pre-paid revenue shares for four games, including "Sword and Knight Regiment," and recognized impairment provisions, contributing to a significant decline in profits [6]. Game Performance and Market Response - The newly launched fighting game "Star Wings" and the independent game "Heroic Legend" received positive feedback from domestic and overseas players, but some anticipated new games like "Sword and Knight Regiment" underperformed, leading to increased marketing costs and a situation where revenue could not cover costs [6]. Investor Guidance - The company will provide detailed financial data in the 2024 annual report, and investors are advised to exercise caution based on preliminary estimates [7].

证券代码：300494 证券简称：盛天网络 公告编号：2025-002 湖北盛天网络技术股份有限公司 本次拟计提资产减值准备金额是公司财务部门初步核算结果，未经会计师事务所 审计，具体减值项目及金额以经会计师事务所审计的 2024 年年度报告为准。 关于 2024 年度拟计提资产减值准备的公告 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、本次计提资产减值准备概述 根据《企业会计准则》《上市公司自律监管指引第 2 号-创业板上市公司规范运 作》等相关规定的要求，为更加真实、准确地反映公司的资产状况和财务状况，湖北 盛天网络技术股份有限公司（以下简称"公司"）对合并报表范围内各公司 2024 年 12 月末所属资产进行了减值测试，本着谨慎性原则，拟对可能发生资产减值损失的相 关资产计提减值准备，预计 2024 年全年计提资产减值准备金额合计约为 25,545.20 万元，具体明细如下： | | 项目名称 | 拟计提资产减 值准备金额 | 情况说明 | | --- | --- | --- | --- | | | 应收账款坏账准备 | 212.08 | | | ...

证券代码：300494 证券简称：盛天网络 湖北盛天网络技术股份有限公司 投资者关系活动记录表 编号：2025-001 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 □业绩说明会 □新闻发布会 路演活动 现场参观 电话会议 □其他： （请文字说明其他活动内容） 参与单位名称 华宝基金、泰康基金、国寿安保基金、华安基金、平安基金、海富通 基金、上海仙人掌私募基金、国泰君安证券、广发证券、海通证券、 西南证券、华源证券 时间 2025年1月17日- 2025年1月20日 地点 武汉、线上电话会议 公司接待 人员姓名 首席战略官 高维 投资者关系活动 主要内容介绍 投资者提出的问题及公司回复情况： 公司就投资者在本次说明会中提出的问题进行了回复，主要问题 涉及公司财务情况、战略方向、业务进展等，具体交流内容如下： Q1：2020-2023 年公司业绩持续保持增长，但 2024 年前三季度业 绩下滑明显，原因如何？ 答：2024 年前三季度业绩波动主要原因系报告期内暂无新 IP 游戏 产品上线，且基于市场环境动态以及产品多轮测试，公司与合作伙伴 Q3: 注意到给麦 APP 入选了国内多个 AI 应用 ...

华英证券有限责任公司 关于湖北盛天网络技术股份有限公司 部分募集资金投资项目延期和完工的核查意见 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")于 2024年 12月 20 日召开第五届董事会第六次会议、第五届监事会第六次会议, 审议通过了《关于部分募集资金投资项目延期和完工的议案》。本次部分募投项 目延期和完工事项在董事会审批权限范围内,无需提交股东大会审议。 华英证券有限责任公司(以下简称"华英证券"或"保荐机构")作为盛天 网络向特定对象发行股票并在创业板上市的保荐机构,根据《深圳证券交易所创 业板股票上市规则》《深圳证券交易所上市公司自律监管指引第 2 号 -- 创业板 上市公司规范运作》等相关规定,对公司部分募集资金投资项目延期和完工的事 项进行了审慎核查,核查的具体情况如下: 一、募集资金基本情况 经中国证券监督管理委员会《关于同意湖北盛天网络技术股份有限公司向特 定对象发行股票注册的批复》(证监许可(2021)883 号)同意注册,公司本次 向特定对象发行人民币普通股(A 股)31,665,598 股,每股面值为人民币 1.00元, 发行价格为人民币 15.36元/股,募集资金总 ...

证券代码：300494 证券简称：盛天网络 公告编号：2024-059 湖北盛天网络技术股份有限公司 关于部分募集资金投资项目延期和完工的公告 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 2024 年 12 月 20 日召 开第五届董事会第六次会议和第五届监事会第六次会议，审议通过了《关于部分募集 资金投资项目延期和完工的议案》，董事会同意公司在向特定对象发行股票募集资金 投资项目（以下简称"募投项目"）实施主体、募集资金投资用途及规模不发生变更 的情况下对部分募投项目进行延期，将"盛天网络云游戏服务平台项目"达到预定可 使用状态的时间延期至 2026 年 12 月 31 日。此外，董事会同意对募投项目中的"盛 天网络游戏授权及运营项目"予以完工结项。 该事项无需提交股东大会审议，现将相关事项公告如下： 一、募集资金基本情况 经中国证券监督管理委员会《关于同意湖北盛天网络技术股份有限公司向特定对 象发行股票注册的批复》（证监许可﹝2021﹞883 号）同意注册，公司本次向特定对 象发行人民币普通股（A 股 ...

证券代码：300494 证券简称：盛天网络 公告编号：2024-060 湖北盛天网络技术股份有限公司 第五届董事会第六次会议决议公告 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 湖北盛天网络技术股份有限公司（以下简称"公司"）第五届董事会第六次会议 于 2024 年 12 月 20 日（星期五）在公司会议室以现场结合通讯的方式召开。会议通 知已于 2024 年 12 月 13 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，其中董事杜耀文、何国华通过通讯方式参加。 （一）审议通过《关于部分募集资金投资项目延期和完工的议案》 董事会同意公司在募投项目实施主体、募集资金投资用途及规模不发生变更的情 况下对部分募投项目进行延期，将"盛天网络云游戏服务平台项目"达到预定可使用 状态的时间延期至 2026 年 12 月 31 日。 会议由董事长赖春临女士主持，部分监事、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 ...

证券代码：300494 证券简称：盛天网络 公告编号：2024-061 湖北盛天网络技术股份有限公司 经审核，监事会认为：公司部分募投项目延期和完工的事项，是根据行业发展情 况和项目实际实施情况作出的审慎决定，公司根据募集资金的使用进度和项目建设的 实际情况，将募集资金投资项目的建设周期延长，不改变项目实施主体、募集资金用 途及投资规模，不存在改变或变相改变募集资金投向和其他损害股东尤其是中小股东 利益的情形，不会对公司正常经营产生不利影响，符合中国证监会、深圳证券交易所 关于上市公司募集资金管理的有关规定，符合公司长远发展需要，同意公司将募集资 金投资项目进行延期。 具体内容详见公司同日披露于巨潮资讯网（http://www.cninfo.com.cn）的《关 于部分募集资金投资项目延期和完工的公告》（公告编号 2024-059）。 表决结果：3 票同意，0 票反对，0 票弃权，本议案通过。 第五届监事会第六次会议决议公告 本公司及监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、监事会会议召开情况 湖北盛天网络技术股份有限公司（以下简称"公司"）第五届监事会第六 ...