KINGNET(SZ:002517) Xin Lang Cai Jing·2025-07-06 10:31Group 1 - The global public testing of "解限机" marks a transition of AI from an "auxiliary tool" to "production infrastructure," democratizing 3D content production previously reliant on high-cost outsourcing, which will accelerate content innovation among independent and mid-tier game developers, leading to an explosion of "small but beautiful" products [1] - Kaiying's "AI + IP" strategy addresses industry pain points, as traditional IP development has long cycles and derivative products suffer from homogenization; AI's ability to accurately capture user preferences and generate cross-media content is expected to shorten IP incubation periods and enhance derivative monetization efficiency [1] - In the short term, the proliferation of technological tools will reshape the competitive landscape of the industry; in the long term, the deep integration of IP and AI may give rise to a "super IP ecosystem," evolving games from a single content form to a comprehensive platform of "pan-entertainment + consumer services" [1] Group 2 - The Chinese gaming market is projected to reach a scale of 28.051 billion yuan by May 2025, with a year-on-year growth of 9.86% [3] - The normalization of game license issuance is evident, with 757 domestic game licenses granted in the first half of 2025 [8] - Kaiying Network held an "AI + IP" ecosystem launch event, indicating a strategic focus on integrating AI with intellectual property [9]