Giant Network(SZ:002558) 创业家·2025-05-19 10:01Core Viewpoint - The article discusses the recent financial troubles faced by Shi Yuzhu, a prominent entrepreneur, due to frozen shares linked to personal guarantees, raising concerns about the stability of his company, Giant Network [3][4][6]. Group 1: Financial Issues - Shi Yuzhu's company, Giant Investment, has a newly reported execution amount exceeding 490 million yuan, with the Beijing Financial Court involved [3]. - The total amount of frozen shares related to Shi Yuzhu has surpassed 3.9 billion yuan, indicating significant financial strain [14]. - Previous instances of share freezes occurred in 2021, highlighting a pattern of financial difficulties linked to personal guarantees [6][4]. Group 2: Company Operations and Strategy - Despite financial issues, Giant Network continues to focus on its core gaming business, particularly the "Journey" series, which remains a significant revenue source [26][28]. - The company has successfully launched new products, including the mini-program game "King of Journey," which attracted over 25 million new users and generated 600 million yuan in revenue [30]. - Shi Yuzhu's return to the gaming sector is marked by a strategic shift to enhance user experience and reduce reliance on high spending by players [31][32]. Group 3: Market Position and Future Outlook - Giant Network's revenue for 2024 was reported at 2.923 billion yuan, showing a slight decline of 0.05%, while net profit increased by 31.15% to 1.425 billion yuan [28]. - The company has shifted its focus from the metaverse to AI technologies, integrating AI tools to improve operational efficiency and game development [35][38]. - The ongoing challenges in the gaming market, including competition from mobile and MOBA games, pose risks to Giant Network's long-term growth potential [30][31].