Market Overview - The three major U.S. stock indices opened mixed on February 3, with the Nasdaq up 0.36%, the Dow Jones up 0.22%, and the S&P 500 up 0.20% [1]. Index Performance - Dow Jones Industrial Average is at 49,515.08, up by 107.42 points, representing a 0.22% increase [2]. - Nasdaq Index stands at 23,676.02, up by 83.91 points, reflecting a 0.36% rise [2]. - S&P 500 is at 6,990.31, increasing by 13.87 points, which is a 0.20% gain [2]. Sector Performance - Mining stocks surged, with Coeur Mining rising over 8% and Pan American Silver increasing more than 6% [2]. - Storage sector showed strength, with Western Digital up over 4% and SanDisk up over 5% [3]. - Technology stocks mostly rose, with Intel increasing over 4% and Google rising more than 1% [4]. Chinese Stocks - The Nasdaq Golden Dragon China Index fell by 0.40%, with notable declines in stocks such as Bilibili, Alibaba, and NetEase, each down over 2%, and Baidu and JD down over 1%. However, Xpeng Motors rose over 2% [4]. Notable Declines - PayPal experienced a significant drop, falling over 18% [5].

今年春节档，头部厂商也在不断升级节日特定玩法和福利，延长用户活跃周期。 北京商报记者丨程靓 图片来源：新浪微博@万代南梦宫中国 截图 从品类看，23款新游戏覆盖多元赛道，包括角色扮演（RPG）、卡牌策略、开放世界、模拟经营等。例如，在《沙石镇时光》游戏中，玩家作为一名工坊 主，将在荒漠小镇沙石镇开启重建与冒险之旅。通过探索、建造、种植、社交等多种方式，逐步振兴这片土地。此前，其PC版在Steam平台上已累计销量 突破170万份。 从厂商看，目前预计亮相的新游戏集中于中小厂商，大厂新游戏处于测试阶段的更多。例如，腾讯游戏旗下《失控进化》《奥星热浪》、完美世界 （002624）旗下《异环》、网易游戏旗下《遗忘之海》《代号：足球》等。 福利"质变"升级 2026年春节档游戏流量争夺战悄然打响。 据不完全统计，2月2日—16日（除夕夜）将有23款新游戏陆续上线。与以往不同的是，包括腾讯游戏、网易游戏和米哈游在内的游戏大厂在上线新玩法、 新福利的同时，也在寻求由量变到质变的突破，今年各家还加大了与跨界品牌的联动，以激活更大范围的消费潜力。从扎堆上新到福利升级，再到深度联 动，在业内看来，游戏行业也正从"存量博弈"向"生 ...

Core Viewpoint - The competition for game traffic during the 2026 Spring Festival is intensifying, with 23 new games set to launch between February 2 and 16, marking a shift from "stock game competition" to "ecological reconstruction" in the gaming industry [1][4]. Group 1: New Game Launches - A total of 23 new games will be released, including titles from various genres such as RPG, card strategy, open-world, and simulation [4]. - Notable new games include "Little Nightmares" by Heartfire Games, "Pam's Battle Diary" by Lilith Games, and "Survival 33 Days" by 37 Interactive Entertainment [4]. - Most of the new games are from small to medium-sized developers, while major companies like Tencent and NetEase have games in testing phases [4]. Group 2: Enhanced User Benefits - Major gaming companies are upgrading holiday-specific gameplay and benefits to extend user engagement [5]. - Tencent's "League of Legends Mobile" has launched a New Year celebration with significant discounts and exclusive skins, while "Peace Elite" has introduced new version experiences and themed rewards [5]. - NetEase's "Nirvana in Fire" has been offering free monthly cards and various in-game rewards since late January [5]. Group 3: Shift in User Demand - User demand is shifting towards "immersive experiences," prompting companies to provide richer content and benefits to meet diverse needs [6]. - The market competition is evolving from a focus on single product dimensions to a comprehensive ecological competition [6]. Group 4: Cross-Industry Collaborations - Cross-industry collaborations are becoming a norm, with games increasingly integrating into offline life [7]. - Tencent's "Delta Action" is partnering with Haidilao to launch themed packages and promotions during the Spring Festival [7]. - NetEase's "Egg Party" has collaborated with RT-Mart to create interactive treasure hunt activities and custom cakes, appealing to younger consumers [8]. Group 5: Consumer Engagement Strategies - The integration of game IP into physical consumption is creating a closed loop of "content + scene + consumption" [8]. - The aim of cross-industry collaborations is to attract potential user groups and stimulate consumption through both online and offline channels [8].

Core Viewpoint - Recent rumors regarding potential adjustments to the value-added tax (VAT) rates for industries such as gaming and finance have caused significant market fluctuations, particularly affecting major companies like Tencent and NetEase. However, these rumors have been debunked by authoritative sources, confirming that no such changes are planned [1][4]. Group 1: Market Impact - The rumors about VAT adjustments led to substantial declines in stock prices for companies in the gaming and finance sectors, with Tencent dropping over 6% and NetEase fluctuating between gains and losses of more than 3% [1]. - Other companies such as Century Huatong and Giant Network also experienced significant stock price drops, with Century Huatong falling over 9% during trading [1]. Group 2: Clarification of Rumors - Experts and industry insiders have confirmed that the rumors regarding VAT increases, including a potential rise in the gaming industry's tax rate from 6% to 32%, are unfounded [4]. - The current VAT law in China stipulates that the maximum VAT rate is 13%, and there are no provisions for a 32% rate, further discrediting the rumors [4]. - Recent announcements from the financial and tax authorities have clarified that there will be no changes to the VAT policies affecting the gaming and finance sectors, ensuring stability and certainty in the tax regime [4].

增值税传闻扰动市场。 近期，一些关于调整游戏、金融等行业增值税税率的传言在部分网络平台上传播。其中，提及金 融业、互联网增值服务等或将面临增值税税率上调，游戏行业的税率有可能从6%调高至32%。 自2026年1月1日起，《中华人民共和国增值税法》和《中华人民共和国增值税法实施条例》同步 施行。专家表示，财税部门近期发布了多项关于增值税政策的公告，这些政策主要是为了更好落 实增值税法、确保立法后的税制连贯性，其中对于游戏、金融等行业适用税率等政策都有明确的 规定，增强了政策确定性和稳定性。 "实际上，增值税立法后，增值税相关行业的税率都已明确，财税部门日前发布多项公告，也没有 调整游戏、金融行业增值税政策。上述传言不具备真实性。"一位业内人士表示。 这位业内人士称，网络传言中还提及游戏行业的税率要"从6%的档次调高至32%的档次"。但 实际 上，目前我国增值税法明确规定，增值税税率最高仅为13%，32%这个档次是不存在的，进一步 说明传言不具备可信度。 综合自：新华社 责编：万健祎 校对： 许欣 受传闻影响，腾讯、网易、世纪华通、三七互娱、巨人网络等盘中一度大幅跳水，其中，腾讯一 度跌超6%，网易从涨超3%一度 ...

中银国际发表报告，预期网易去年第四季核心游戏收入按年增长6%，经调整净利润额为84亿元，分别 较目前市场预期低5%及9%。该行认为，公司将持续执行在游戏研发及营运提升其资源利润及分配效率 的优化措施，核心的创新能力及全球化愿景维持不变，并预期公司2026年业绩将随着大型新游戏在今年 下半年的逐步推出上线而加速，同时对其在激烈的市场竞争中核心长青游戏的稳定营运有信心。基于公 司较大机会增加去年第四季的派息规模，以及2027年因港交所新规而进入港股通的潜在预期，维持"买 入"评级，港股及美股目标价分别降至250港元及160美元。 ...

业内普遍认为，这一举措反映了 Xbox 对中国市场特性 的深入理解。一方面，中国玩家对联机稳定性和延迟表 现有着较高要求；另一方面，简化使用流程、减少额外 配置步骤，也成为提升平台黏性的关键。 除加速服务外，Xbox 近年来持续加大在中国市场的投入 力度，包括扩大 Xbox PC App 的游戏内容规模、强化简 体中文本地化支持，以及引入更多中国开发者的作品，如《永劫无间》《明末：渊虚之羽》等。 此外，在内容层面，Xbox PC App 覆盖了大量全球热门作品。玩家可在春节期间体验例如《天外世界 2》《禁闭求生 2》《使命召唤：黑色行动 7》等作品，与亲友共同参与线上娱乐活动。 Xbox 表示，未来将继续围绕中国玩家的实际需求，优化平台服务体验，并推出更多本地化功能，为中 国 PC 游戏生态提供更完善的支持。 随着中国 PC 游戏市场持续增长，平台服务的本地化程度正成为影响玩家体验的重要因素。近日，Xbox 宣布在 Xbox PC App 中集成网易 UU 加速器，标志着其在中国市场的本地化策略再进一步。 此次更新将网络加速服务直接融入 Xbox PC App 之中， 为中国玩家在游戏下载、在线联机及多人对战 ...

近日，由"海外数据调查机构Civixplorer"发布的《全球最赚钱媒体特许经营权排行榜》在社媒中广泛传播。榜单统计了全球最赚钱的26个IP，数据涵盖这 些IP截至2025年12月止，在游戏、电影、电视、玩具、卡牌、书籍及商品等方面的一切收入。 榜单显示，"精灵宝可梦"以总收入2880亿美元成为全球最赚钱IP，远超第2名"Hello Kitty"近2000亿美元。"维尼熊""米老鼠""星球大战""马力欧""面包超 人""迪士尼公主系列""漫威"以及"JUMP漫画"进入前十。 而中国IP竟然无一上榜，"哪吒""原神""LABUBU"这些近年被大肆宣传、作为中国文化出海典型的大爆款，在顶级全球IP面前被"秒得渣都不剩"。 事实真的是这样吗？或许吧。 但首先，Civixplorer不是数据调查机构，而是一家无官方认证、主要发布数据可视化图片的自媒体（为方便阅读，下文英文网站页面截图，均已自动翻译 为中文）。 首页 关于 博客 Q ■ 商店 哪吒、LABUBU没上榜？因为2025全球最赚钱IP排行榜是假的？ Civixplorer是什么分析公司吗 Civixplorer并非正规分析公司,甚至不具备合法注册的机构主体资 ...

Core Insights - The gaming industry is witnessing a significant influx of new titles, with 124 games either launched or in testing in Q1 2026, of which 84.7% have obtained approval numbers [1][44] - A notable trend is the migration of 21 games from the Steam platform to mobile, indicating a shift towards innovative gameplay and artistic styles that may rejuvenate the mobile gaming market [1][44] - Several new games have shown promising market performance, including "Survival 33 Days," "Crazy Water World," "Goose Duck," "Counterattack: Future," and "Arknights: End of the World," which have all achieved strong rankings in various app stores [6][10][15][17] Game Launches and Performance - Five standout games have performed well at the start of 2026, with "Survival 33 Days" leading the charge, achieving top rankings on both WeChat and Douyin mini-game platforms shortly after launch [6][8] - "Crazy Water World," a survival simulation game, has also maintained a strong presence in the top 10 of mini-game rankings and is showing upward momentum in the iOS charts [10][11] - "Goose Duck," a social deduction game, has rapidly gained a large user base, surpassing 1 million users within six days of its mobile launch [13] - "Counterattack: Future," a PvE shooter, has successfully positioned itself within the top 20 of the iOS game rankings shortly after its release [15] - "Arknights: End of the World," a strategy RPG, has also made a strong debut, reaching the top ranks in the iOS charts [17] Upcoming Titles and Trends - The upcoming quarter is set to feature several high-potential titles, including Tencent's "Kingdom of Rock," NetEase's "Forgotten Sea," and FunPlus's "Imo," all of which are expected to enter testing soon [19][30] - The trend of porting games from PC to mobile is gaining traction, with complex genres like SOC and Roguelike also being adapted for mobile platforms, indicating a broader acceptance of diverse gameplay styles in the mobile market [44][48] - The industry is experiencing a renewed sense of optimism, with the potential for quality products to thrive despite challenges, suggesting a possible turnaround in market sentiment [47]

Group 1 - The market is expected to enter a medium to long-term consolidation phase after a short-term momentum decline [10] - The Shanghai government has initiated a program to purchase second-hand housing for affordable rental housing projects, targeting new citizens, young people, and graduates [5] - The Ministry of Industry and Information Technology has approved a new national standard for automotive door handles, set to be implemented in 2027, addressing safety and usability issues [5] Group 2 - The National Development and Reform Commission and other departments have released guidelines for the construction of a low-altitude economy standard system, aiming for over 300 standards by 2030 [3] - The Ministry of Finance has introduced a temporary method for long-term asset input tax deduction, allowing full deduction for mixed-use assets upon purchase [4] - The stock of Guokai Military Industry has experienced significant price fluctuations, with a recent announcement clarifying that its commercial aerospace projects are still in the R&D phase and have minimal impact on revenue [7]