HUAXI Securities·2025-06-29 11:34Investment Rating - The industry rating is "Recommended" [4] Core Insights & Investment Recommendations - In June, the number of game approvals reached a recent high, with 158 games approved, including 147 domestic and 11 imported games. This reflects the regulatory support for the healthy development of the industry, injecting new momentum into the market [2][25] - The stability of policies significantly enhances the predictability of domestic manufacturers' R&D and distribution plans, promoting resources towards high-quality and long-term development [2][25] - The expansion of import licenses demonstrates an inclusive and innovative attitude, indicating a shift from scale expansion to high-quality development in the industry [2][25] - Investment opportunities include: 1) Hong Kong internet leaders benefiting from consumption promotion and employment stability; 2) The gaming industry, which is expected to see demand growth driven by policy incentives and technological empowerment; 3) The film and cultural tourism industry, which will benefit from consumption policies that stimulate cinema recovery [3][26] Sub-industry Data Film Industry - The top three films by box office this week are "Sauce Garden Case" with 97.046 million yuan (27.0% market share), "Detective Conan: The Lone Eye's Remnant" with 95.633 million yuan (26.6%), and "How to Train Your Dragon" with 42.064 million yuan (11.7%) [28][29] Gaming Industry - The top three iOS games by revenue are "Honor of Kings," "Peacekeeper Elite," and "Endless Winter." The top three Android games by popularity are "Heartbeat Town," "Sword and Wand Legend," and "My Leisure Time" [31][32] TV Series Industry - The top TV series by broadcast index are "Lingjiang Xian" and "Book Scroll Dream" (both tied for first), followed by "The Lychee of Chang'an" and "In the Name of Law" [34][35] Variety and Animation - The top variety show is "Ha Ha Ha Ha Season 5," followed by "Infinite Overcoming Class Season 3" and "Singer 2025." The top animation is "Cang Yuan Tu: Meng Chuan's Counterattack" with a viewership index of 308 [36][38]