Group 1 - The top company by market capitalization is 台棋电 with a value of 11,854.84 million [2] - Tencent Holdings ranks second with a market cap of 5,904.94 million [2] - Alibaba follows in third place with a market cap of 2,722.24 million [2] Group 2 - Xiaomi Group is in fourth place with a market cap of 1,906.02 million [2] - Pinduoduo ranks fifth with a market cap of 1,492.62 million [2] - Meituan is sixth with a market cap of 991.67 million [2] Group 3 - NetEase has a market cap of 839.94 million, placing it seventh [2] - JD.com is in eighth place with a market cap of 476.7 million [3] - SMIC (中芯国际) follows closely with a market cap of 476.28 million [3] Group 4 - Kuaishou (快手-W) has a market cap of 347.93 million, ranking ninth [3] - Baidu ranks tenth with a market cap of 296.09 million [3] - Tencent Music has a market cap of 295.84 million, placing it eleventh [3] Group 5 - Li Auto (理想汽车) ranks twelfth with a market cap of 294.05 million [3] - Beike (贝壳) has a market cap of 222.61 million, placing it thirteenth [3] - Tonghuashun (同花顺) follows with a market cap of 206.05 million, ranking fourteenth [3] Group 6 - XPeng Motors (小鹏汽车) has a market cap of 172.8 million, ranking fifteenth [3] - iFlytek (科大讯飞) is sixteenth with a market cap of 153.61 million [3] - ZTO Express (中通快递) ranks seventeenth with a market cap of 142.2 million [3] Group 7 - 360 (三六零) has a market cap of 99.37 million, placing it eighteenth [3] - Baoxin Software (宝信软件) ranks nineteenth with a market cap of 94.85 million [3] - Weimob (味睡眠唾) has a market cap of 90.14 million, placing it twentieth [3] Group 8 - Hengsheng Electronics (恒生电子) ranks twenty-first with a market cap of 88.68 million [3] - New Oriental (新东方) follows with a market cap of 88.53 million, placing it twenty-second [3] - NIO (蔚来) has a market cap of 78.36 million, ranking twenty-third [3] Group 9 - Vipshop (唯品会) ranks twenty-fourth with a market cap of 77.85 million [4] - Kingsoft (金山软件) has a market cap of 72.56 million, placing it twenty-fifth [4] - Kingdee International (金蝶国际) ranks twenty-sixth with a market cap of 68.95 million [4] Group 10 - TAL Education (好未来) has a market cap of 65.2 million, placing it twenty-seventh [4] - Giant Network (巨人网络) ranks twenty-eighth with a market cap of 63.55 million [4] - Yonyou Network (用友网络) has a market cap of 62.87 million, placing it twenty-ninth [4] Group 11 - WanGuo Data (万国数据) ranks thirtieth with a market cap of 62.26 million [4] - Qifu Technology (奇富科技) has a market cap of 59.88 million, placing it thirty-first [4] - Kunlun Wanwei (昆仑万维) ranks thirty-second with a market cap of 59.46 million [4] Group 12 - Tongcheng Travel (同程旅行) has a market cap of 59.26 million, placing it thirty-third [4] - Kaiying Network (恺英网络) ranks thirty-fourth with a market cap of 57.59 million [4] - Runhe Software (润和软件) has a market cap of 56.7 million, placing it thirty-fifth [4] Group 13 - China Software (中国软件) ranks thirty-sixth with a market cap of 55.89 million [4] - Sangfor Technologies (深信服) has a market cap of 55.57 million, placing it thirty-seventh [4] - Tuo Wei Information (拓维信息) ranks thirty-eighth with a market cap of 54.48 million [4] Group 14 - 37 Interactive Entertainment (三七互娱) has a market cap of 53.49 million, placing it thirty-ninth [4] - Baichu Electronics (柏楚电子) ranks fortieth with a market cap of 53 million [4] Group 15 - Meitu (美图公司) has a market cap of 51.44 million, placing it forty-first [5] - Changshan Beiming (常山北明) ranks forty-second with a market cap of 49.14 million [5] - Newland (新大陆) has a market cap of 46.77 million, placing it forty-third [5] Group 16 - Yanshan Technology (岩山科技) ranks forty-fourth with a market cap of 44.5 million [5] - Yinzhijie (银之杰) has a market cap of 43.6 million, placing it forty-fifth [5] - Donghua Software (东华软件) ranks forty-sixth with a market cap of 43.05 million [5] Group 17 - Perfect World (完美世界) has a market cap of 41.16 million, placing it forty-seventh [5] - China Civil Aviation Information Network (中国民航信息网络) ranks forty-eighth with a market cap of 39.26 million [5] - Yunfei Zhili (云费智联) has a market cap of 38.28 million, placing it forty-ninth [5]

Flash | 24 Jun 2025 18:53:21 ET │ 10 pages China Internet 158 Games Approved in Jun 2025 W/ 11 Imported; Tencent/NTES Obtained 2/1 Titles CITI'S TAKE On Jun 24, the NPPA released the sixth batch of game approvals in 2025 with a total of 158 games (147/11 domestic/imported titles). This represents the largest monthly batch in the past 3 years. Cumulatively in 1H15, 812 games have been approved (757/55 domestic/imported games), 18/12% higher than 689/728 approved in 1H/2H24, indicating an increasing new game ...

Investment Rating - The industry rating is "Recommended" [4] Core Insights & Investment Recommendations - In June, the number of game approvals reached a recent high, with 158 games approved, including 147 domestic and 11 imported games. This reflects the regulatory support for the healthy development of the industry, injecting new momentum into the market [2][25] - The stability of policies significantly enhances the predictability of domestic manufacturers' R&D and distribution plans, promoting resources towards high-quality and long-term development [2][25] - The expansion of import licenses demonstrates an inclusive and innovative attitude, indicating a shift from scale expansion to high-quality development in the industry [2][25] - Investment opportunities include: 1) Hong Kong internet leaders benefiting from consumption promotion and employment stability; 2) The gaming industry, which is expected to see demand growth driven by policy incentives and technological empowerment; 3) The film and cultural tourism industry, which will benefit from consumption policies that stimulate cinema recovery [3][26] Sub-industry Data Film Industry - The top three films by box office this week are "Sauce Garden Case" with 97.046 million yuan (27.0% market share), "Detective Conan: The Lone Eye's Remnant" with 95.633 million yuan (26.6%), and "How to Train Your Dragon" with 42.064 million yuan (11.7%) [28][29] Gaming Industry - The top three iOS games by revenue are "Honor of Kings," "Peacekeeper Elite," and "Endless Winter." The top three Android games by popularity are "Heartbeat Town," "Sword and Wand Legend," and "My Leisure Time" [31][32] TV Series Industry - The top TV series by broadcast index are "Lingjiang Xian" and "Book Scroll Dream" (both tied for first), followed by "The Lychee of Chang'an" and "In the Name of Law" [34][35] Variety and Animation - The top variety show is "Ha Ha Ha Ha Season 5," followed by "Infinite Overcoming Class Season 3" and "Singer 2025." The top animation is "Cang Yuan Tu: Meng Chuan's Counterattack" with a viewership index of 308 [36][38]

点击注册小程序 查看完整报告 特别申明： 本订阅号中所涉及的证券研究信息由光大证券研究所编写，仅面向光大证券专业投资者客户，用作新媒体形势下研究 信息和研究观点的沟通交流。非光大证券专业投资者客户，请勿订阅、接收或使用本订阅号中的任何信息。本订阅号 难以设置访问权限，若给您造成不便，敬请谅解。光大证券研究所不会因关注、收到或阅读本订阅号推送内容而视相 关人员为光大证券的客户。 报告摘要 25年6月20日，作为中国游戏产业研究院战略合作伙伴，伽马数据公布25M5中国游戏产业市场规模、中国 自研游戏出海市场规模等跟踪数据。 本土：中国游戏市场延续较高景气度，新品贡献有所增强 根据伽马数据，25M5中国游戏市场实际销售收入达280.51亿元，同比增长9.86%，环比增长2.56%。相比 25Q1（同比+17.99%）及25M4（同比+21.93%）有所放缓，但仍保持较快增长。25M5重点新品上线节奏 加快，市场驱动因素由依赖长线产品商业化逐步转向新品增量拉动，新老产品协同支撑行业增长。 25M5中国移动游戏市场实际销售收入达211.77亿元，同比增长11.96% 1）逐步开始有重点新品上线，多款月流水破千万元。据七 ...

Momentum is quietly gathering behind NetEase ( NTES ) . The Chinese-born publisher that once relied on a handful of domestic PC franchises is now adding console and mobile hits that chart globally while spinning off data-rich"AWS Certified AI Practitioner Early Adopter"I am a DevOps Engineer for a major, wholly owned subsidiary of a large-cap Fortune 500. I am a true subject-matter expert on the actual buildout, deployment, and maintenance of AI tools and applications. I have increasingly deep knowledge on ...

以下文章来源于浪潮工作室 ，作者浪潮工作室 浪潮工作室 . 网易旗下栏目，给你另一种看世界的角度和态度 搞钱成为本能。 撰文 | Emeria 审核编辑 | 小 羊 图片编辑 | 啃 啃 内容编辑 | 懒羊羊 来源 | 浪潮工作室 (ID: WelleStudio163 ) 本文授权转载自浪潮工作室（ID：WelleStudio163），未经授权禁止转载 又一年毕业季，高考志愿填报也即将拉开帷幕，人生抉择的重大关头，选哪座城市才能 赢在起跑线上？ 当别人还在纠结"北上广深"时，聪明人已经盯上了新的搞钱圣地——杭州。 无论你是耕耘多年的老牛马、刚出栏的大学生又或是高考完的预备役，杭州都在用真金 白银向你证明：在这里，搞钱不是选择，而是本能。 你在杭州看风景，钱正在看你 一个被大家忽略的事实是，近些年其实有相当多的淘金者捷足先登来到了杭州，并且留 在了杭州。 2 0 24年，杭州的常住人口已经突破1 2 6 2万人，相当于伦敦人口的1 . 2 8倍，作为超大城市 的它，依然连续1 0年实现了常住人口的两位数增长，在智联招聘发布的2 0 2 4年中国最具 人才吸引力城市榜单上位列第五，仅次于北上广深。 到底什么样的 ...

上半年发放版号数据来了。 国产游戏版号同比增加超百个 2025年6月，新一批网络游戏版号发放，共有147款国产网络游戏获得版号，同时还有11款进口网络游戏获得版号。单月合 计发放版号数量超过158个，创近几年新高。 据证券时报记者统计，上半年共发放757个国产网络游戏获得版号，55个进口网络游戏版号，总数较2024年上半年进一步增 长。 新一批版号中，包括多家知名厂商产品，如A股公司恺英网络（002517）的《斗罗大陆：魂师大作战》、冰川网络 （300533）的《最后小队》、巨人网络（002558）的《无尽修仙》。其他知名厂商作品包括莉莉丝的《帕萌战斗日记》、 波克科技的《爆爆军团》、四三九九的《神都奇缘》《一起抓波奇》等。 腾讯和网易两大厂商则均在进口网络游戏方面有所斩获。腾讯的《穿越火线：虹》和网易的《无主星渊》，金山世游的 《鹅鸭杀》等都获得进口版号。 今年以来，国产网络游戏版号单月始终保持在110个以上。今年5月份达到130个，6月份升至147个，发放数量持续攀升。 | 时间 | 国产网络游戏版号数量 | 进口网络游戏版号数量 | | --- | --- | --- | | 2025年1月 | 123 ...

Core Insights - The article presents the market capitalization changes of major global technology and internet companies as of June 26, 2025, highlighting fluctuations in stock values and overall market performance [1]. Market Capitalization Changes - Taiwan Semiconductor Manufacturing Company (台棋电) has a market cap of $115.52 billion, with a 1.2% increase [3]. - Tesla's market cap stands at $105.50 billion, reflecting a decrease of 3.79% [3]. - Tencent's market cap is $59.28 billion, with a slight increase of 0.88% [3]. - Oracle (甲骨文) has a market cap of $20.18 billion, down by 2.11% [3]. - Netflix (奈飞) shows a market cap of $54.27 billion, with a minor decrease of 0.3% [3]. - Alibaba's market cap is $28.08 billion, down by 2.1% [3]. - AMD's market cap increased by 3.59%, reaching $23.25 billion [3]. - Uber's market cap is $19.00 billion, with a decrease of 0.82% [3]. Notable Performers - ASML (阿斯麦) experienced a slight increase of 0.23%, with a market cap of $32.05 billion [3]. - ServiceNow's market cap is $20.82 billion, reflecting an increase of 0.89% [3]. - Palantir's market cap is $33.80 billion, with a minor decrease of 0.23% [3]. - Adobe's market cap is $16.51 billion, showing an increase of 1.36% [4]. - Spotify's market cap is $15.09 billion, with an increase of 1.81% [4]. Decliners - Intel's market cap is $9.68 billion, down by 1.55% [5]. - DoorDash (DOGROWER) has a market cap of $9.85 billion, reflecting a decrease of 1.48% [5]. - CrowdStrike's market cap is $12.31 billion, with an increase of 1.79% [4]. - Workday's market cap is $6.22 billion, down by 2.4% [6]. Emerging Companies - Airbnb's market cap is $8.15 billion [6]. - Robinhood's market cap stands at $7.30 billion, with an increase of 0.9% [6]. - Cloudflare's market cap is $6.58 billion, reflecting an increase of 1.98% [6]. - Coinbase's market cap is $9.05 billion, with an increase of 3.06% [5].

6月24日，《和平精英》宣布5.1当天进入地铁逃生模式（搜打撤）的活跃用户数突破3700万。 同一天国家新闻出版署公布了2025年6月游戏版号审批信息，共有147款国产网络游戏与11款进口网络游 戏获得审批。 腾讯《穿越火线：虹》、团队合作射击《战术小队：破晓攻势》，网易太空团队射击《无主星渊》等多 个射击产品位列其中。 一方面，《三角洲行动》、《和平精英》、《穿越火线》大行其道的当下腾讯还在加码；另一方面，网 易、莉莉丝、B站也在踊跃行动，进行正面搏杀。 与小游戏一堆相似玩法竞争不同，射击品类不仅仅是卷的红，成本投入也足够高，特别是跨端进一步拉 高了进场的能力门槛。 而去年收入排名前100的移动游戏中，射击类占比13.89%位居第三，这样的份额、如此的成本投入和竞 争强度，腾讯左右互搏、大家争先恐后踩油门提速到底冲什么来? 先抓DAU 一个有趣的现象，射击产品的战报不会聊流水多少，而是集中在DAU、MAU以及累计XX这些用户数据 上。这类产品本身在商业设计上也不会追求深挖ARPU，用户规模数据的重要性高于一时的收入流水。 众所周知，射击玩法当初发力移动端进行了设计妥协和很长时间的用户习惯培养，眼下新一轮射击 ...

文 | 娱乐资本论 吴晓宇 想要在单机领域施展一番拳脚的网易，似乎再次被玩家投上了一张不信任票。 近日，网易雷火事业群·临安24工作室发布了全新游戏《归唐》的首支预告片。这款国产单机游戏发生 在唐朝安史之乱时期。游戏以一个普通送信者的视角，还原了有关归义军大历史下一段可歌可泣的故 事。截至目前，《归唐》在B站的播放量已经突破1440万次。 《归唐》 《归唐》的预告片发布之后，立即引爆了全球的游戏社群。大批海外玩家纷纷表示，《归唐》作为一款 动作冒险游戏，画面的精细程度远超他们的想象。《黑神话：悟空》取得成功的大背景下，海外玩家非 常期待另一个讲述中国故事的3A大作。 然而，同一部预告片放到国内就换成了另一种风评。国内的社交平台上，许多玩家表达了他们对于《归 唐》的质疑，并表示这款游戏虽然登录PC和主机平台，早晚会变成内购氪金满天飞的服务型游戏。 看到类似的舆论之后，24工作室立即在《归唐》的B站主页发布动态，直面玩家的质疑。这则动态的最 后，24工作室放下了一句重话："说了是单机，就不可能是手机游戏。这话大家可以截图留证。"可惜的 是，24工作室的表态没有换来玩家的认可，针对《归唐》的质疑还在继续。 娱乐资本 ...