传媒：重磅游戏版号发放，优质IP纵深赋能

Investment Rating - The report maintains an "Outperform" rating, indicating expected investment returns will exceed the CSI 300 Index by more than 10% over the next six months [1]. Core Insights - The issuance of game licenses has shown a positive trend, with 111 domestic games approved in February, marking a continuous increase for three consecutive months [1]. - The gaming industry is experiencing favorable conditions at the start of the year, driven by advancements in AI computing power and the transformation of MR devices, suggesting a trend towards multi-platform connectivity [1]. - High-quality IPs and innovative gameplay are expected to support steady growth in the gaming sector, with significant titles like "Black Myth: Wukong" and "Infinite Warm" receiving attention and approval [1]. Summary by Sections Investment Highlights - The report highlights that the number of game licenses has consistently exceeded 100 for three months, with a record high of 115 licenses issued in January 2024 [1]. - The approval of major titles is seen as a positive signal for the industry, enhancing confidence and accelerating monetization of quality content [1]. Market Performance - The report notes a year-on-year performance of the gaming sector, with absolute returns of -0.85% over 1 month, -10.46% over 3 months, and 2.86% over 12 months [1]. - Relative returns indicate a decline of -4.34% over 1 month, -8.7% over 3 months, and an increase of 17.53% over 12 months [1]. Recommended Stocks - The report suggests focusing on companies such as Perfect World (002624.SZ), Zhongqingbao (300052.SZ), and 37 Interactive Entertainment (002555.SZ) among others, as they are well-positioned to benefit from the positive industry trends [1].