游戏ETF（516010）涨超2%，政策端持续释放暖意、行业基本面扎实回升

Core Viewpoint - The gaming sector is experiencing a positive trend, driven by regulatory support and solid industry fundamentals, as evidenced by the issuance of game licenses and projected revenue growth in the coming years [1][2]. Group 1: Industry Performance - In January 2026, a total of 182 game licenses were issued, including 177 domestic games and 5 imported games, indicating a continued normalization in regulatory approvals since 2025 [1]. - The "2025 China Game Industry Report" forecasts that the actual sales revenue of China's gaming market will reach 350.79 billion yuan, marking a year-on-year growth of 7.68% and surpassing the 350 billion yuan threshold for the first time [1]. - The number of gaming users is expected to grow steadily to 683 million [1]. Group 2: Investment Logic - The current investment logic in the gaming sector focuses on "performance realization" and "AI technology transformation" [2]. - The 7.68% revenue growth effectively counters the narrative of industry contraction, with anticipated steady growth driven by successful products and upcoming major releases [2]. - The application of AI technology in game development and player interaction is reshaping valuation logic, reducing development costs and enhancing user willingness to pay through innovative gameplay [2]. Group 3: Market Outlook - With the normalization of license issuance and accelerated AI technology integration, the valuation center of the gaming sector is expected to further recover [3]. - Despite potential short-term market fluctuations due to macroeconomic sentiment, the long-term competitiveness of Chinese gaming companies is strengthening, supported by dual revenue streams from domestic and international markets [3]. - Investors are encouraged to consider the gaming ETF (516010) for long-term growth opportunities, utilizing strategies such as phased investments or dollar-cost averaging [3].