传播文化业行业事件快评：9月版号供给稳定，各厂商游戏产品积极推进

Investment Rating - The report maintains an "Overweight" rating for the gaming industry, consistent with the previous rating [3][4]. Core Insights - In September, a total of 109 gaming licenses were issued, with companies like Tencent, Kaiying Network, and Sanqi Interactive Entertainment receiving approvals for their products. This indicates a stable supply of licenses, which is expected to positively impact the gaming market starting from the fourth quarter [4]. - The report highlights that the gaming market is seeing new product launches and tests, with several games performing well in the market. For instance, Tencent's multi-platform shooting game "Delta Action" has maintained the top position on the iOS free chart since its launch [4]. - The overall gaming industry is currently at a low valuation, and companies with strong content reserves and solid fundamentals are expected to recover first. Companies with leading advantages in game development, publishing, and AI technology applications are also anticipated to improve gradually [4]. Summary by Sections License Supply - In September, 109 domestic game licenses were approved, a slight decrease from 117 in August. This includes 102 mobile games, 5 mobile plus client games, 1 client game, and 1 client plus NS console game [4]. - Notable approved products include Tencent's "Hunting" and "Where is the Immortal Road," Kaiying Network's "Blue Moon Era," and Sanqi Interactive's "Douluo Dalu: Finger Trial" among others [4]. Market Performance - Several games have begun testing or launching since September, with positive market performance expected. For example, "Delta Action" has been leading the iOS free chart, and "Like a Kite," a female-oriented game from Alibaba, has ranked in the top 3 of the free chart and top 6 of the sales chart [4]. - Upcoming tests include Kaiying Network's "Tomb Raider: Journey" and Perfect World's "Otherworld" [4]. Investment Recommendations - The report recommends companies such as Kaiying Network, JiBit, Yaoji Technology, Sanqi Interactive, Tencent Holdings, NetEase, and Bilibili, which are expected to benefit from the market recovery [4].