游戏市场规模维持高位，行业景气度延续，聚焦游戏ETF（159869）低位抢筹窗口

Core Viewpoint - The gaming sector is experiencing fluctuations, with the gaming ETF (159869) declining nearly 2.5% as of October 17, despite significant net inflows of 2.501 billion yuan over the past 10 trading days, indicating strong investor interest [1][2]. Group 1: Market Performance - As of October 16, the gaming ETF (159869) has reached a product scale of 10.768 billion yuan, facilitating investors' access to leading A-share gaming companies [1]. - The projected sales revenue for China's gaming market in Q3 2025 is expected to decline by approximately 4.8% year-on-year, but show a quarter-on-quarter growth of about 6.2%, primarily due to a high base effect from the previous year [1]. Group 2: Industry Dynamics - The overall performance of listed companies in the gaming sector is anticipated to remain resilient, with potential for exceeding expectations in Q3 due to strong demand in the summer entertainment sector and ongoing AI-driven product innovation [1]. - The gaming industry is benefiting from a favorable policy environment, with stable issuance of game licenses and the Ministry of Culture and Technology promoting AI applications in content creation [1]. Group 3: Growth Drivers - Major gaming companies are launching key products, contributing to robust overall revenue performance, while the overseas market continues to show increased activity, with international business becoming a significant growth driver [1]. - The period from July to August saw a high quarter-on-quarter growth in overseas mobile game revenue, with "premium overseas" becoming a primary growth engine [1].