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多只游戏股年内股价翻倍,产业有望迎来新一轮十年成长期
Feng Huang Wang·2025-10-09 08:00

Core Viewpoint - The gaming sector has experienced a significant surge in stock prices this year, with various companies achieving remarkable growth, indicating a potential new phase of high-speed growth in the Chinese gaming industry [3][10]. Group 1: Stock Performance - ST Huatuo (002602) has seen a year-to-date increase of nearly 303%, becoming a leader in the A-share gaming sector with a total market capitalization of 153.8 billion yuan [1]. - Tencent (0700.HK) and NetEase (9999.HK) recorded stock price increases of over 60% and 70% respectively, while Giant Network (002558) surged over 260% [3]. - Other notable performers include G-bits (603444) with a rise of over 166%, Perfect World (002624) with an increase of over 88%, and 37 Interactive Entertainment with a growth of over 46% [6]. Group 2: Reasons for Stock Surge - The stock price increases are attributed to multiple factors, including high certainty in performance growth, improved internal control capabilities, and expectations for future delisting [3][6]. - The gaming industry is shifting from imitation to innovation, focusing on high-quality game development and international expansion, which enhances the industry's outlook [3][10]. - The release of new products exceeding expectations and stable performance from existing products have contributed to significant revenue and profit growth [7][11]. Group 3: Financial Performance - Century Huatuo reported a revenue of 17.2 billion yuan for the first half of the year, a year-on-year increase of 85.5%, with a net profit of 2.656 billion yuan, up 129.33% [7]. - G-bits achieved a revenue of 2.518 billion yuan, a growth of 28.49%, with a net profit of 645 million yuan, up 24.5% [7]. - Giant Network's revenue was approximately 1.662 billion yuan, reflecting a growth of 16.47%, while net profit was about 777 million yuan, up 8.27% [7]. Group 4: Policy and Market Dynamics - The issuance of game licenses has been a key driver for the gaming sector, with a significant number of licenses granted this year, indicating a favorable regulatory environment [8][10]. - The total number of game licenses issued in 2025 has reached 1,275, with 1,195 for domestic games and 80 for imported games [8]. - The Chinese gaming market's actual sales revenue grew by 14.08% year-on-year in the first half of the year, marking a historical high [10]. Group 5: Future Outlook - The gaming industry is expected to continue its upward trajectory, supported by policy incentives and technological advancements, particularly in AI and international market expansion [11][14]. - The focus on maintaining IP relevance and leveraging technology for game development is seen as crucial for sustaining growth [11][15].