证券代码：002624 证券简称：完美世界 公告编号：2025-039 完美世界股份有限公司 第六届董事会第十七次会议决议公告 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 完美世界股份有限公司（以下简称"完美世界"或"公司"）第六届董事会第十 七次会议于2025年10月21日以现场和通讯相结合的方式召开。本次会议通知已于 2025年10月16日以电话、传真等方式发出，会议应出席董事5人，实际出席董事5 人。本次会议由董事长池宇峰先生主持。会议的召集、召开和表决程序符合《公 司法》和《公司章程》的有关规定。 三、备查文件 1 二、董事会会议审议情况 会议审议通过了以下议案： （一）审议通过《关于2025年员工持股计划预留份额分配的议案》 表决结果：5票同意、0票反对、0票弃权 为了满足公司可持续发展及不断吸引和留住优秀人才的需要，根据《2025 年员工持股计划》的规定，公司拟将2025年员工持股计划预留部分1,644,831股， 授予符合条件的不超过15名认购对象，预留股份的授予价格为6.57元/股，与首次 授予价格一致。参与对象不涉及公司董事、监事及高级管 ...

Market Overview - The gaming sector increased by 2.84% on October 21, with Youzu Interactive leading the gains [1] - The Shanghai Composite Index closed at 3916.33, up 1.36%, while the Shenzhen Component Index closed at 13077.32, up 2.06% [1] Individual Stock Performance - Youzu Interactive (002174) closed at 12.41, up 6.43%, with a trading volume of 953,200 shares and a turnover of 1.17 billion [1] - ST Huaton (002602) closed at 18.19, up 5.02%, with a trading volume of 1,414,900 shares and a turnover of 2.54 billion [1] - Giant Network (002558) closed at 40.10, up 4.02%, with a trading volume of 420,600 shares and a turnover of 1.66 billion [1] - Other notable performers include Kying Network (002517) up 4.00%, WenTou Holdings (600715) up 3.63%, and Jibite (603444) up 2.58% [1] Capital Flow Analysis - The gaming sector saw a net inflow of 965 million from institutional investors, while retail investors experienced a net outflow of 739 million [2] - Major stocks with significant net inflows include ST Huaton with 487 million and Giant Network with 135 million [3] - Conversely, Youzu Interactive experienced a net outflow of 645 million from retail investors [3]

Core Insights - The "First Media Industry Sustainable Development Index" has been officially released, with Damai Entertainment Holdings Limited ranking first in the "TOP 20 Listed Companies" overall list [1][6]. Company Rankings - Damai Entertainment Holdings Limited is ranked 1st in the film and theater industry with a rating of "Practitioner" [3]. - Other notable companies in the top rankings include: - Yidian Tianxia Network Technology Co., Ltd. (2nd, Advertising Marketing, "Practitioner") [3] - Wuxi Baotong Technology Co., Ltd. (3rd, Gaming, "Product") [3] - Xinhua Wengxuan Publishing Media Co., Ltd. (4th, Publishing, "Practitioner") [3] - Shanghai Ningmeng Film and Television Media Co., Ltd. (5th, Film and Theater, "High K") [3]. Index Methodology - The index covers 85 listed media companies from mainland China (excluding Hong Kong and Macau) that have published their 2024 ESG reports, social responsibility reports, and sustainable development reports by 2025 [4][6]. - The evaluation includes six categories: advertising marketing, digital media, gaming, film and theater, publishing, and television broadcasting [4][6]. - The rating process is supervised by SGS (Hong Kong General Testing and Certification Co., Ltd.) [6]. ESG Performance - Damai Entertainment integrates sustainable development concepts into its corporate strategy and management, focusing on creating meaningful content, developing film AI technology, and building a green industry chain [6]. - The company achieved an MSCI ESG rating of AA in 2025, the highest in the domestic media and entertainment industry [6].

Core Insights - Perfect World experienced a stock price increase of 2.65% on October 20, with a trading volume of 495 million yuan [1] - The company reported a net financing outflow of 15.14 million yuan on the same day, with a total financing and securities balance of 649 million yuan [1][2] - For the first half of 2025, Perfect World achieved a revenue of 3.691 billion yuan, representing a year-on-year growth of 33.74%, and a net profit of 503 million yuan, up 384.52% year-on-year [2] Financing and Securities - On October 20, Perfect World had a financing buy-in of 23.15 million yuan, with a current financing balance of 645 million yuan, accounting for 1.95% of its market capitalization [1] - The financing balance is below the 20th percentile level over the past year, indicating a low position [1] - In terms of securities lending, 3,400 shares were repaid and 900 shares were sold on October 20, with a total selling amount of 15,300 yuan [1] Shareholder Information - As of June 30, 2025, Perfect World had 102,100 shareholders, a decrease of 11.69% from the previous period [2] - The top ten circulating shareholders include Hong Kong Central Clearing Limited, which increased its holdings by 52.64 million shares to 116 million shares [3] - Other notable changes in holdings include a decrease of 7.18 million shares for Xingquan Helun Mixed A and an increase of 609,200 shares for Huaxia Zhongzheng Animation Game ETF [3]

Core Insights - The 2025 Counter-Strike Asia Invitational Championship (CAC 2025) concluded successfully in Shanghai, with the Brazilian team Legacy defeating 3DMAX in the finals to claim the championship title [1][4] - The event showcased China's growing international influence in esports and contributed to Shanghai's ambition to become a "global esports capital" [1][11] Event Overview - CAC 2025 marked a comprehensive upgrade in scale, specifications, and experience, with total prize money increased from $500,000 to $1 million and the number of participating teams expanded from 8 to 16 [2] - The introduction of regional qualifiers allowed more teams from different regions to compete, enhancing the global nature of the event [2] Venue and Experience - The event was held at the Oriental Sports Center, featuring upgraded facilities that provided a more comfortable and immersive viewing experience for attendees [3] - The finals format was changed from a best-of-three to a best-of-five, increasing the competitiveness and excitement of the championship [3] Cultural Integration - The event highlighted the integration of traditional sports and esports, with badminton champion Shi Yuqi supporting the event as a guest, emphasizing the shared competitive spirit [7] - The presence of esports elements in various popular commercial districts in Shanghai created a vibrant atmosphere, showcasing the city's commitment to integrating esports into its cultural fabric [9] Economic and Strategic Impact - CAC 2025's successful execution is a significant step towards Shanghai's goal of becoming a "global esports capital," attracting global teams, media, and brands [11] - The event's influence extended beyond the venue, fostering collaborations across various sectors, including tourism and commerce, to create a new ecosystem for esports consumption [9][11]

Market Overview - The gaming sector experienced a decline of 0.27% on October 20, with ST Huatuo leading the drop [1] - The Shanghai Composite Index closed at 3863.89, up 0.63%, while the Shenzhen Component Index closed at 12813.21, up 0.98% [1] Top Gainers in Gaming Sector - The top gainers included: - Youzu Network (002174) with a closing price of 11.66, up 5.42% and a trading volume of 645,700 shares, totaling 741 million yuan [1] - ST Dazheng (600892) at 4.14, up 5.08% with a trading volume of 106,800 shares, totaling 43.65 million yuan [1] - Kaiying Network (002517) at 23.74, up 4.12% with a trading volume of 526,800 shares, totaling 1.258 billion yuan [1] Top Losers in Gaming Sector - The top losers included: - ST Huadao (002602) at 17.32, down 4.94% with a trading volume of 2,259,200 shares, totaling 3.996 billion yuan [2] - Yaoji Technology (002605) at 25.21, down 2.17% with a trading volume of 85,200 shares, totaling 21.7 million yuan [2] - Shunwang Technology (300113) at 23.75, down 1.86% with a trading volume of 231,900 shares, totaling 559 million yuan [2] Capital Flow in Gaming Sector - The gaming sector saw a net outflow of 421 million yuan from main funds, while retail investors contributed a net inflow of 492 million yuan [2][3] - Notable capital flows included: - Kaiying Network (002517) with a main fund net outflow of 64.59 million yuan [3] - Youzu Network (002174) with a main fund net inflow of 46.51 million yuan [3] - Perfect World (002624) with a main fund net inflow of 24.05 million yuan [3] ETF Performance - The Gaming ETF (159869) tracking the China Animation and Gaming Index saw a decline of 7.55% over the past five days, with a net outflow of 64.67 million yuan [5]

Core Insights - The CAC 2025 concluded successfully in Shanghai, with the Brazilian team Legacy winning the championship against 3DMAX, showcasing the international appeal of Chinese esports [1][2][7] Event Overview - CAC 2025 featured a total prize pool increased from $500,000 to $1,000,000, and the number of participating teams expanded from 8 to 16, including top teams from Europe, America, and Asia [2][3] - The event introduced a regional qualifying mechanism, allowing more teams from different regions to compete, enhancing the global competition aspect [2][3] Venue and Experience - The event was held at the Shanghai Pudong Development Bank Oriental Sports Center, which provided upgraded facilities for a more immersive viewing experience [3] - The finals format was upgraded from a best-of-three to a best-of-five, increasing the excitement and competitiveness of the championship [3] Cross-Industry Collaboration - CAC 2025 collaborated with various sectors, including culture, sports, and tourism, to create an immersive "esports + city" experience, enhancing the event's reach beyond the venue [5][6] - The event featured themed decorations in public transport and commercial areas, promoting esports culture and attracting more attention to the event [5][6] Cultural Integration - The event highlighted the integration of traditional sports and esports, with notable figures like badminton champion Shi Yuqi expressing support for the event, bridging the gap between different sports [4] - Shi Yuqi's participation emphasized the shared spirit of competition and determination present in both traditional sports and esports [4] Global Impact and Future Prospects - The successful hosting of CAC 2025 is a significant step towards Shanghai's goal of becoming a "global esports capital," attracting global teams, media, and brands [7] - The event is expected to inject strong momentum into the Chinese esports industry, with plans for future international events and deeper collaboration with city managers and industry partners [7]

Core Viewpoint - The Hong Kong stock market saw a collective rise in major indices, particularly the Hang Seng Technology Index, which increased by over 2.5%. The gaming sector, especially companies like NetEase, Alibaba, and Tencent, showed strong performance, driven by a significant increase in the issuance of domestic game licenses [1][2]. Group 1: Market Performance - The Hang Seng Technology Index ETF (513180) followed the index's upward trend, with notable gains in tech stocks, particularly in the gaming sector [1]. - NetEase, a leading gaming company, surged over 5% in the afternoon session, contributing to the overall positive sentiment in the market [1]. Group 2: Industry Insights - The National Press and Publication Administration reported the issuance of 1,195 domestic game licenses from January to September 2025, marking a year-on-year increase of 24.61% [1]. - Open Source Securities highlighted that the gaming sector's valuation has become attractive again after recent adjustments, suggesting that supply and demand dynamics could continue to drive the gaming cycle upward [1]. - CITIC Securities expressed a strong recommendation for the gaming sector, noting that despite recent pullbacks, demand remains stable and the sector has shown resilience during peak consumption periods [1]. Group 3: Valuation Metrics - As of October 17, the latest valuation (PETTM) for the Hang Seng Technology Index ETF (513180) was 22.13 times, which is below 75% of the time since the index's inception, indicating a favorable valuation environment [2]. - The outlook for the Hong Kong tech sector is optimistic, with expectations of benefiting from AI trends and potential foreign capital inflows due to a favorable interest rate environment [2].

Core Insights - The gaming industry is evolving into an "AI + gaming + various industries" model, where technologies validated in gaming are expected to create broader application ecosystems, impacting digital content and services across multiple sectors [1][2] - Perfect World has been exploring AI in the digital cultural creation sector for seven to eight years, integrating AI deeply into various business segments, significantly influencing and reshaping cultural creative production models [2][3] Group 1: AI Applications in Gaming - Perfect World focuses on two main AI application directions: enhancing user experience and optimizing production efficiency [3] - The MMORPG game "Zhu Xian World" utilizes AI for real-time weather simulation, achieving realistic environmental effects like rain and snow [3] - The game will integrate NVIDIA's Audio2Face technology in March 2024, allowing audio to be converted into facial animations, enhancing character expressions and improving development efficiency [3] Group 2: Broader AI Integration - AI is transitioning from being technology-driven to value-driven, with applications expanding across various industries, including healthcare, automotive, and finance [2] - The Chinese government is promoting a coordinated national strategy for AI development, focusing on six major actions under the "AI+" initiative [2] - Domestic leading companies are investing heavily in AI infrastructure and independent chip development, aiming to create a closed loop of technology, products, and commercialization [2] Group 3: Challenges and Future Directions - The rapid development of AI presents opportunities but also raises ethical concerns, data misuse, algorithm bias, and unclear responsibilities [3] - There is a call for a focus on foundational research and long-term strategies, emphasizing the coexistence of AI and human society [3]

Group 1: Company Updates - Gibit (603444) expects net profit for the first three quarters to exceed 1 billion yuan, with a projected increase of 57% to 86% year-on-year [4] - Kaiying Network (002517) showcased its AI toy brand "Warm Star Valley Dream Journey" at the 2025 China Toy Expo, targeting the emotional companionship market for ages 12-35 [5] - Korean game developer 111% and Chinese publisher Habby announced plans to establish a joint venture in Singapore to enhance their presence in the global mobile gaming market [6] Group 2: Regulatory Developments - South Korea's domestic agent system for games is set to be implemented on October 23, aiming to improve regulatory communication and compliance for foreign companies [7] Group 3: Industry News - Renowned game creator Tomonobu Itagaki, known for titles like "Ninja Gaiden" and "Dead or Alive," has passed away [9] - Elon Musk announced that his AI company xAI will enter the gaming industry, focusing on developing interactive 3D virtual game environments using advanced "world models" technology [10] - Web3 game studio Mythical Games secured strategic investment from Eightco Holdings to accelerate its mission in the entertainment ecosystem [11] Group 4: Esports Events - The 2025 League of Legends World Championship (S15) commenced in Beijing, featuring 17 top teams competing for the global championship title [12] - The 2025 CFS (CrossFire World Championship) China regional qualifiers began in Chongqing, attracting many top teams [13] - The CAC2025 (CS Asia Invitational) kicked off in Shanghai, with a total prize pool of 1 million USD and participation from 16 top teams [14]