翻红上扬！游戏ETF（159869）震荡走强涨近1%

Core Viewpoint - The gaming sector is experiencing a notable recovery, with significant capital inflow and a supportive regulatory environment for both domestic and imported games [1] Group 1: Market Performance - The gaming ETF (159869) has seen a near 1% increase after a slight fluctuation in early trading on September 29, with a total net capital inflow of 1.672 billion yuan over the past 10 trading days [1] - The product scale of the gaming ETF has surpassed 10 billion yuan, reaching a new high since its inception, indicating strong investor interest [1] Group 2: Regulatory Environment - From January to September 2025, the National Press and Publication Administration has issued a total of 1,275 game licenses, maintaining a high volume of domestic licenses and a consistent approval rhythm for imported licenses [1] - In August alone, 166 game licenses were issued, marking the highest monthly issuance since the resumption of licenses in April 2022 [1] - The government has explicitly stated its support for the overseas expansion of the gaming industry, aiming to build a complete industrial chain from IP creation to production, distribution, and overseas operations [1] Group 3: Industry Outlook - According to Kaiyuan Securities, the gaming industry is still in a high prosperity cycle driven by supply-demand resonance, with the upcoming quarterly reports likely to further validate this high prosperity [1] - The current valuation of the gaming sector remains attractive, and it is recommended to increase allocations in gaming after recent adjustments [1] - The gaming sector is catalyzed by multiple factors including AI, content, and changes in commercialization models, with the gaming ETF (159869) tracking the performance of A-share listed companies in the animation and gaming industry [1]