超配游戏板块！公募发掘游戏股增量机会

Core Viewpoint - The article highlights the significant gains that fund managers have achieved in the gaming sector, driven by the industry's recovery and the strategic focus on overseas markets and artificial intelligence to enhance profitability and efficiency [2][5]. Group 1: Fund Investment in Gaming Stocks - Public funds have increasingly concentrated their investments in gaming stocks, with notable companies like Giant Network, G-bits, ST Huatuo, and Xindong Company showing impressive performance, contributing to rapid increases in fund net values [3][4]. - As of September 11, 2023, stocks such as Giant Network and G-bits have seen price increases of approximately 2.5 times and 1.3 times, respectively, while ST Huatuo and Xindong Company have risen by about 2.6 times and 2.3 times [3][4]. - The total market value of public funds' holdings in media stocks reached 36.341 billion yuan, with gaming stocks accounting for 21.503 billion yuan, representing 59.17% of the total [4]. Group 2: Industry Recovery and Performance - The gaming industry's recovery is characterized by rapid earnings growth, with companies like ST Huatuo and Xindong Company reporting net profit increases of 129% and 268%, respectively, in the first half of 2023 [4]. - The Chinese gaming market's actual sales revenue reached 168 billion yuan in the first half of 2023, marking a year-on-year growth of 14.08%, while overseas sales of domestically developed games amounted to 9.501 billion USD, up 11.07% [5]. Group 3: Strategic Focus on Overseas Markets - The ability to expand into international markets is seen as a key driver for gaming companies' performance, with fund managers favoring those with established overseas experience [5]. - The rapid growth of overseas gaming revenue is highlighted, with ST Huatuo achieving 8.9 billion yuan in overseas game income in the first half of 2023, reflecting a gross margin of 70.99% [5]. Group 4: Policy Support and Technological Trends - The issuance of gaming licenses has accelerated, with 946 licenses granted from January to July 2023, a year-on-year increase of 19.29%, providing additional confidence for fund managers in the gaming sector [6]. - The rise of artificial intelligence is expected to lower R&D costs for gaming companies, with potential for new gaming devices and gameplay innovations, enhancing the sector's growth prospects [7][8].