市值风云·2025-07-09 10:06Core Viewpoint - The A-share gaming sector has shown significant strength since April 2023, with the China Animation and Gaming Index rising over 30% from its low point in early April, indicating positive changes in the industry [3][6]. Policy Support and Market Dynamics - The gaming industry has received continuous policy support, with the National Press and Publication Administration issuing 158 game copyright numbers in June 2025, marking a new high since the regulatory pause in 2021 and 2022 [7][9]. - In the first half of 2025, a total of 812 new games were approved, with 757 being domestic games, reflecting a more than 20% increase compared to the same period in 2024, signaling a shift towards high-quality development in the gaming sector [9][10]. - Various provinces and cities have issued policies to support the high-quality development of the gaming and esports industries, with Beijing's recent measures focusing on optimizing reviews and promoting quality content [10]. Leading Companies and Market Performance - The top ten stocks in the Animation and Gaming Index account for 73.41% of the index's weight, with the top five stocks representing 49.05%, indicating that leading companies are likely to benefit more from the ongoing industry reforms [11]. - Notable companies such as Kayi Network, Giant Network, and Sanqi Interactive have seen significant stock price increases since early April, with gains of 30.28%, 106.46%, and 40.53% respectively [14][13]. AI Integration in Gaming - The integration of AI in gaming is reshaping the industry, with companies like Giant Network pioneering AI-driven gameplay, enhancing user experience and product innovation [15][18]. - Sanqi Interactive has developed an AI model named "Xiao Qi," which enhances various operational aspects, including game development and marketing, significantly improving efficiency [19][21]. International Expansion and Cultural Export - The gaming industry is focusing on international expansion, with China's game exports reaching $18.557 billion in 2024, a 13.39% increase year-on-year, marking a new high [25][26]. - Major companies are actively pursuing global markets, with Sanqi Interactive's upcoming titles targeting international audiences, reflecting a strong commitment to globalization [27][29]. Industry Outlook - The combination of supportive policies, AI advancements, and cultural exports positions the domestic gaming industry for a transformative period, potentially leading to a "DeepSeek" moment in the sector [30][31].