Market Overview - The Shanghai Composite Index rose by 0.35% to close at 3388.73 points, with a daily high of 3389.76 points [1] - The Shenzhen Component Index increased by 0.41% to close at 10163.55 points, reaching a high of 10173.06 points [1] - The ChiNext Index saw a rise of 0.66%, closing at 2057.32 points, with a peak of 2062.42 points [1] ETF Market Performance - The median return for stock ETFs was 0.24%, with the highest return from the Yinhua ChiNext Mid-Cap 200 ETF at 1.62% [2] - The highest performing industry ETF was the China Securities Software Development ETF, which achieved a return of 2.68% [2] - The China Securities Animation and Game ETF led the thematic ETFs with a return of 5.24% [2] ETF Gain and Loss Rankings - The top three ETFs by gain were: - Guotai CSI Animation and Game ETF (5.24%) - Huatai-PB CSI Animation and Game ETF (5.04%) - Bosera CSI Financial Technology Theme ETF (4.94%) [4][5] - The top three ETFs by loss were: - Huitianfu CSI All-Index Medical Device ETF (-2.76%) - Huashan CSI Hong Kong and Shanghai Gold Industry ETF (-2.35%) - Ping An CSI Hong Kong and Shanghai Gold Industry ETF (-2.32%) [4][5] ETF Fund Flows - The top three ETFs by fund inflow were: - Huatai-PB CSI 300 ETF (inflow of 1.692 billion yuan) - Huaxia SSE 50 ETF (inflow of 868 million yuan) - Southern CSI 500 ETF (inflow of 577 million yuan) [6][7] - The top three ETFs by fund outflow were: - Industrial Bank of China CSI Dividend ETF (outflow of 229 million yuan) - Huashan ChiNext 50 ETF (outflow of 183 million yuan) - E Fund ChiNext ETF (outflow of 144 million yuan) [6][7] ETF Margin Trading Overview - The top three ETFs by margin buying were: - Huaxia SSE Sci-Tech 50 ETF (355 million yuan) - Huaxia SSE 50 ETF (228 million yuan) - Huatai-PB CSI 300 ETF (204 million yuan) [8][9] - The top three ETFs by margin selling were: - Southern CSI 1000 ETF (65.29 million yuan) - Huatai-PB CSI 300 ETF (22.07 million yuan) - Southern CSI 500 ETF (6.42 million yuan) [8][9] Industry Insights - Open Source Securities recommends increasing allocation in the gaming sector due to new measures from the Zhejiang Provincial Department of Commerce aimed at supporting the internationalization of the gaming industry [10] - Wanlian Securities notes that the Chinese gaming market showed stable growth in April, driven by long-term products and new releases, indicating robust growth potential [11]

Core Viewpoint - The success of "Dune: Awakening" is attributed to its strong IP backing and innovative gameplay design, which combines elements of SOC, MMO, and CRPG, allowing it to stand out in a competitive market [1][30]. Group 1: Game Performance - "Dune: Awakening" has achieved significant sales, ranking second globally on Steam, with a peak online player count of 140,000 [3][30]. - The game has received positive feedback from fans of the "Dune" franchise, indicating a successful adaptation of the IP [5][6]. Group 2: Game Design and Features - The game incorporates a rich world-building experience, allowing players to customize their characters' backgrounds, which influences gameplay [8][10]. - It features a blend of survival mechanics and RPG elements, enhancing the overall player experience and engagement [10][18]. - The game includes a unique tension-building mechanic with giant sandworms, adding to the immersive atmosphere [11][13]. Group 3: Company Background and Development - Funcom, the developer of "Dune: Awakening," has a tumultuous history, including multiple rounds of layoffs and project failures before finding success with this title [17][25]. - The company underwent significant changes under CEO Rui Casais, focusing on improving operational efficiency and game development processes [27][30]. - Tencent's investment in Funcom, acquiring a 29% stake and later full ownership, provided the necessary financial support for the development of "Dune: Awakening" [30][31]. Group 4: Industry Context - The competitive landscape for SOC games is intensifying, with successful titles needing to offer unique gameplay experiences to attract players [33]. - Tencent's strategic investments in various gaming studios have resulted in a growing portfolio of successful titles across different genres, indicating a strong presence in the global gaming market [30][33].

每经记者｜李宇彤 每经实习编辑｜余婷婷 ｜2025年6月17日 星期二｜ NO.1 柠檬微趣《Gossip Harbor》夺得5月出海手游榜第二 6月16日，韩国Nexon公司旗下休闲类赛车竞速游戏《跑跑卡丁车》的续作《跑跑卡丁车：漂移》发布 停运公告。该游戏于2023年1月上线，运营不到两年半。游戏总监赵在允表示："Nexon和Nitro Studio长 期以来一直在为跑跑卡丁车IP（知识产权）的永续性和未来寻找新方向，长远来看我们认为很难提供能 让赛车手们满意的服务，因此决定结束《跑跑卡丁车：漂移》的游戏服务。" 点评：《跑跑卡丁车：漂移》运营不足两年半便停运，反映出游戏产品生命周期管理的重要性。此事件 或引发市场对同类竞速游戏项目运营策略的关注，投资者可能更谨慎评估休闲游戏公司新产品的长期运 营能力，对休闲游戏板块的估值逻辑带来一定影响。 NO.3 网易《逆水寒》上线休闲竞技玩法"逆水侠棋" 6月15日，网易《逆水寒》宣布将带来休闲竞技新玩法"逆水侠棋"。"逆水侠棋"是将经典自走棋规则与 逆水寒世界观深度融合的新玩法，从玩法上来看和腾讯自走棋游戏《金铲铲之战》相似。据官方介 绍，"逆水侠棋"将在6月27 ...

Group 1 - The core event of the "One Billion Subsidy Opening Festival" includes a live broadcast on June 20, where 20 million tiger symbols will be distributed, with 8 lucky winners receiving 18,888 tiger symbols each [1] - Players can also win additional tiger symbols (88, 388, 588, 888) during the live broadcast, along with chances to receive exclusive merchandise and limited edition figurines [1] - The event runs from June 5 to June 30, allowing players to share in 70 million tiger symbols and other rewards by logging into the game and meeting specific conditions [3] Group 2 - The "Youth Server" of the game is designed to attract new players by simplifying gameplay, offering free card draws, and ensuring that players can recruit five-star generals without spending money [5] - The introduction of the Youth Server has led to a significant increase in player engagement, with the number of servers rising from 21 to over 200 in just three months, and a notable increase in the proportion of players born after 2000 [9] - The game has also innovated by integrating with WeChat mini-programs, allowing for easy access without downloading a client, and featuring a unique 2D ink wash style map that runs smoothly on lower-end devices [7]

6月16日，移动应用数据分析公司Sensor Tower发布了2025年5月中国手游在海外市场的收入及下载 量排行榜。 记者注意到，与此前相比，5月出海手游收入榜方面，小游戏品类表现强劲，TOP5中独占三席。其 中，点点互动旗下《Whiteout Survival》继续占据榜首，柠檬微趣旗下《Gossip Harbor》首次攀升至榜 单第2名，点点互动新游《Kingshot》继4月首次亮相出海收入榜第14名后，当月跃居第5名。 5月出海手游收入榜 来源：Sensor Tower 互联网产业分析师张书乐在接受记者采访时指出，出海小游戏表现突出主要在于国外游戏"鄙视 链"里，小游戏长期被"鄙视"，以至于是空白，而国产小游戏填补了这个空白。 他进一步指出，就小游戏本身而言，其获取便捷、操作简洁还具备社交传播属性，能让一些低频游 戏玩家变为高频游戏玩家，一些非游戏玩家也加入到游戏娱乐之中，这些让小游戏具有了增量市场属 性。 具体来看，点点互动当月依旧表现强劲。除《Whiteout Survival》延续爆款势头，持续占据出海榜 榜首，旗下新游《Kingshot》也进入出海手游头部梯队，并不断刷新自身成绩。 据悉，《K ...

赤子城科技 20250616 Q&A 赤子城科技的发展历程及其主要业务模式是什么？ 赤子城科技自 2010 年开始涉足海外市场，最初专注于工具型桌面启动器和移 动广告平台。2019 年，公司完成了对米可世界的投资，并在 2020 年将其并 表。米可世界旗下拥有多款社交应用，推动公司进入社交发展的快速增长期。 2022 年，公司完成了对蓝城兄弟的私有化，将这一稀缺资产纳入母公司报表， 并通过开拓多人人群社交和泛人群社交产品开启新的增长曲线。目前，公司收 入主要分为两大块：社交业务和创新业务。2024 年，社交业务收入达到 46 亿 元，占总收入的 91%，过去三年的复合增长率保持在 30%以上。创新业务包 括游戏产品和蓝城兄弟的社交电商，收入占比不到 10%，复合增长率约为 20%。 赤子城科技的股权结构及财务表现如何？ 摘要 赤子城科技 2024 年社交业务收入达 46 亿元，占总收入 91%，过去三 年复合增长率超 30%；创新业务收入占比不到 10%，复合增长率约 20%，公司整体收入增长 54%。 创始人刘总及其一致行动人持股约 24%，管理层及高管持股约 40%， 董事长持续增持并实施股权激励，彰显对 ...

Core Viewpoint - The strong sales performance of "Nezha: The Devil's Child" merchandise has significantly boosted the stock price of Light Chaser Animation, with expectations for future revenue growth from this IP reaching over 100 billion yuan [1][4]. Group 1: Financial Performance - As of June 16, "Nezha 2" has achieved a cumulative box office of 15.439 billion yuan, contributing to a substantial revenue increase for Light Chaser Animation in Q1 2025, with revenue of 2.975 billion yuan, a year-on-year increase of 177.87%, and a net profit of 2.016 billion yuan, up 374.79% [2][4]. - The company anticipates that the economic increment from "Nezha 2" will exceed 200 billion yuan, with merchandise sales potentially reaching hundreds of billions [2][4]. Group 2: Strategic Shift - Light Chaser Animation is transitioning from being a "high-end content provider" to an "IP creator and operator," aiming to reduce reliance on box office revenue and enhance the sustainability of its business model [5][6]. - The company plans to focus more on animated films, while still producing live-action films, emphasizing large-scale, genre-specific, and innovative projects [6][7]. Group 3: IP Development and Market Position - The company has identified key areas for IP operation, including games, cards, brand stores, and theme parks, with a focus on creating emotional value through merchandise [6][8]. - Light Chaser Animation is exploring the development of a 3A game, leveraging its animation resources, and is also in discussions for potential theme park collaborations [7][8]. Group 4: Market Challenges - The competition in the collectible toy market is intense, and maintaining the popularity of the "Nezha" IP will require continuous innovation and engagement with consumers [5][6]. - Previous attempts by other companies to enter the theme park sector have faced challenges, indicating that Light Chaser Animation's strategy may encounter significant hurdles [8].

每周日至每周四推送明日股市重大公告！内容包含"停复牌、增减持、投资中标、收购、业绩、解禁、 高送转"等一系列个股利好利空公告，其中重要公告均以红色标注，帮助投资者提前寻找到投资热点， 防范各类黑天鹅事件，并且有充足的时间进行分辨和寻找合适的上市公司。 ①谷子经济+区块链+AI游戏+AI大模型+华为鸿蒙！这家公司积累大量IP授权包括"大富翁"等知名IP；②数 字货币+区块链+人形机器人+军工+鸿蒙+数字经济+信创！这家公司正在推进与相关金融机构的合作并在 数字货币试点城市进行业务拓展；③人形机器人+军工+无人机+新能源汽车！公司拟定增募资不超10亿元 用于具身智能机器人等项目。 前言 ...

证券研究报告|传媒 [Table_Title] 移动端长线产品、次新品表现优异，游戏市 场 4 月同比增长 21.93% [Table_ReportType] ——传媒行业跟踪报告[Table_ReportDate] [投资要点： Table_Summary] 中国游戏市场：2025 年 4 月游戏市场收入同比增长 21.93%，环比增长 2.47%。1）中国整体游戏市场：实际销售收入 273.51 亿元，环比增长 2.47%，同比增长 21.93%。2）移动游戏市场：实际销售收入为 204.24 亿元，环比增长 3.07%，同比增长 28.41%。由于长线产品、次新品表现 强劲，部分热门手游通过新赛季、IP 联动等活动吸引玩家，同时游戏 版号稳定发放推动新品上线，市场实现双位数同比增长、环比稳定增长。 全球游戏市场：市场收入同比、环比下降，《王者荣耀》重返双榜榜首。 2025 年 4 月，全球手游玩家在 App Store 和 Google Play 付费 65 亿美 元，同比下降 0.31%，环比下降 4.57%，收入占比前三分别为美国、中 国及日本；4 月共有 33 家中国厂商跻身全球手游发行商收入榜 ...

《豆包引领大模型/Agent 再升级，积 极 关 注 电 影 暑 期 档 — 行 业 周 报 》 -2025.6.15 行 业 研 究 2025 年 06 月 16 日 《关注火山引擎原动力大会，聚焦 AI 应用及 IP 商业化 — 行 业 周 报 》 -2025.6.8 投资评级：看好（维持） 行业走势图 -29% -14% 0% 14% 29% 43% 58% 2024-06 2024-10 2025-02 传媒 沪深300 数据来源：聚源 相关研究报告 《模型与应用再升级，新游表现亮眼， 继续布局 AI 、 IP — 行业周报》 -2025.6.2 供需共振下游戏或步入景气上行周期，继续布局游戏 ——行业点评报告 | 方光照（分析师） | 田鹏（分析师） | | --- | --- | | fangguangzhao@kysec.cn | tianpeng@kysec.cn | | 证书编号：S0790520030004 | 证书编号：S0790523090001 | tianpeng@kysec.cn 证书编号：S0790523090001 游戏行业保持高景气，用户情绪消费需求与游戏供给释放共振 根据 ...