中信证券：3月版号发放稳定 游戏类型日趋多元

Group 1 - The core viewpoint of the article highlights the stable issuance of game licenses by the National Press and Publication Administration, with 133 licenses granted in March 2026 (130 domestic and 3 imported) and a total of 467 licenses issued in Q1 2026 (453 domestic and 14 imported) [1] - The supply side of the gaming industry is maintaining a normalized state, with mobile games continuing to dominate the market and an increasing share of casual puzzle games [1] - The industry is seeing ongoing exploration of cross-platform layouts and new forms such as VR, with both leading firms and small to medium-sized companies advancing their product reserves and focusing on long-term IP operations [1] Group 2 - The mid-term outlook for the gaming industry remains robust, suggesting a focus on companies with strong research and operational capabilities and global expansion strategies [1]