Jin Rong Jie·2026-01-20 12:04Group 1 - The core viewpoint of the article highlights Century Huatong's stable growth in game product layout and development strategy, with key products like "Whiteout Survival" and "Endless Winter" performing steadily, while "Kingshot" is in a rapid growth phase [1][2] - Century Huatong's stock price increased by 2.20% to 20.44 yuan, with a total market capitalization of 150.657 billion yuan, and its rolling P/E ratio of 39.99 ranks 8th in the gaming industry, which has an average P/E ratio of 44.24 [1][2] - The company maintains a cautious approach to business expansion and financial management, optimizing its financial structure and reducing financial costs by clearing past debts [2] Group 2 - Century Huatong expresses confidence in the future development of the gaming industry, citing favorable policy environments and the emphasis on technology and culture, as well as the empowering effect of AI on industry efficiency [2] - The company employs a "horse racing" mechanism in its new product incubation process to ensure high recovery efficiency and success rates, leveraging its R&D capabilities and past successes [1][2] - As of September 30, 2025, Century Huatong had 159,127 shareholders, an increase of 51,896, with an average holding value of 946,800 yuan and an average holding quantity of 46,300 shares [2]