Core Viewpoint - Giant Network has successfully returned to the "billion-dollar club" with a market value exceeding 100 billion yuan, driven by the strong performance of its new game "Supernatural Action Group" and the return of founder Shi Yuzhu [2][3][4]. Group 1: Company Performance - Giant Network's revenue in Q3 2022 reached 1.706 billion yuan, a year-on-year increase of 115.63%, with a net profit of 640 million yuan, up 81.19% [3]. - The company's stock price has fluctuated significantly, with a peak of over 40 yuan in September 2022, reflecting high investor expectations [2]. - In 2023 and 2024, the company achieved revenues of 2.924 billion yuan and 2.923 billion yuan, respectively, with net profits of 1.086 billion yuan and 1.425 billion yuan [11]. Group 2: Game Development Strategy - The game "Supernatural Action Group" has gained popularity, reaching over 1 million concurrent users and ranking in the top 20 on various app stores [3][4]. - The game focuses on "gameplay" rather than traditional data-driven strategies, emphasizing user engagement and iterative development [4][5]. - Shi Yuzhu's return has reinvigorated the company's focus on game quality, with a shift towards player experience over revenue metrics [9][11]. Group 3: Organizational Changes - The company has undergone significant restructuring, reducing management layers and promoting a culture of innovation and responsiveness to player feedback [14][15]. - Young talent has been prioritized in leadership roles, with a focus on creating a more dynamic and responsive organizational structure [16][17]. - Shi Yuzhu has emphasized the importance of a "youthful" approach to game development, encouraging younger team members to take on leadership responsibilities [17]. Group 4: AI Integration - AI has been identified as a critical area for future growth, with plans to integrate AI tools into game development and operations [19][22]. - The company has begun building an AI tool platform to enhance product development, including models for dialogue, art generation, and voice synthesis [23]. - AI is being utilized to create more dynamic and engaging gameplay experiences, such as real-time NPC interactions that mimic human behavior [23].

作者：项蕾（中国社会科学院文学研究所助理研究员） 近年来，国产电子游戏迅猛发展，不仅在国内受到研究者和业界密切关注，兴起一股"游戏研究热"，作为中 国文化出海"新三样"，它也向全球展示了中国在游戏创作层面的深厚实力。电子游戏不仅是数字媒介变革浪 潮下的一种新兴技术形式，还是一种艺术形式。从它进入文化生活和文艺视野起，人们就在不断运用艺术的 话语、观念来尝试评说、衡量它的价值。而在这声音当中，潜藏着比其内容本身更重要的问题：第一，我们 应该把这种新的技术及艺术形式放置在知识谱系的何种位置？第二，相较于其前序的传统载体，它将带来何 种全新可能？ 1997年，时为大二学生的吴冠军出于对哲学、游戏的双重兴趣，在《新潮电子》杂志发表了题为《第九艺 术》的文章，他将电子游戏定义为"继绘画、雕刻、建筑、音乐、诗歌（文学）、舞蹈、戏剧、电影（影视艺 术）之后人类历史上的第九艺术"。1998年，秉持"游戏是第九种艺术"这一理念的互联网公司"第九城市"建 立，它在21世纪初代理了《魔兽世界》等多款里程碑式网络游戏，而其理念被用作游戏启动的序幕标语，成 为众多玩家的共享记忆、共识基础。 相近时间，世界范围内多有类似风潮。在海外，电 ...

以下文章来源于中国企业家杂志 ，作者李晓天 1月2日，巨人网络市值终于重回"千亿俱乐部"。 中国企业家杂志 . 讲好企业家故事，弘扬企业家精神 如果能再复制一款"非共识型产品"，巨人网络或许能回到主牌桌上。 来源 ： 中国企业家杂志 见习记者：李晓天 记者： 马吉英 见习编辑 ： 张昊 编辑 ： 马吉英 巨人网络相关人士告诉《中国企业家》："2025年团队换了运营思路，对于长线运营的产品， 摒弃了单一买量的策略，而是聚焦打磨核心玩法，打磨好之后尽快见用户，见用户之后边运营 边调整。史玉柱有个主张，好游戏是改出来的。" 去年9月，当它的股价突破了40元时，就有媒体开始为这一刻"倒计时"，因为它过去一年涨势 凶猛，年初时股价还在11元上下。虽然此后下跌，它在千亿元市值上没停留太久，但这已不影 响投资者的高预期。 最显性的变化是《超自然行动组》的出现，这是去年行业公认的大黑马之一。去年1月正式上 线后，从畅销榜的增长曲线来看，它的排名从6月开始快速上升，并在7月达到新高——游戏同 时在线人数突破100万，在iOS免费榜和畅销榜最高拿到过Top2和Top4的成绩，此后长期稳 定在Top20以上的水平。 其核心玩法正是 ...

Core Viewpoint - The article discusses the resurgence of Giant Network, highlighting its return to the "billion-dollar club" and the significant impact of the game "Supernatural Action Group" on its financial performance and market perception [3][4]. Financial Performance - In the third quarter of the previous year, Giant Network achieved revenue of 1.706 billion yuan, a year-on-year increase of 115.63%, with a net profit of 640 million yuan, up 81.19% year-on-year [4]. - The company’s revenue for 2023 and 2024 is projected to be 2.924 billion yuan and 2.923 billion yuan, respectively, with net profits of 1.086 billion yuan and 1.425 billion yuan [16]. Game Development Strategy - The success of "Supernatural Action Group" is attributed to a focus on "gameplay" rather than data-driven approaches, with a strategy of iterative development and user feedback [8][9]. - The game has a high female user ratio of 60% to 70%, and its marketing strategy includes engaging users in content creation and community interaction [8]. Leadership and Management Changes - The return of founder Shi Yuzhu is seen as a pivotal factor in revitalizing the company, emphasizing a shift back to prioritizing game quality over financial metrics [12][13]. - The company has undergone significant management restructuring, reducing layers of hierarchy and promoting a culture of innovation and responsiveness to player feedback [19][20]. Youthful Management and Future Direction - There is a clear trend towards younger leadership within the company, with key positions filled by individuals born in the 1980s and 1990s, reflecting a commitment to innovation and understanding of modern gaming trends [21][22]. - Shi Yuzhu aims to empower younger teams while gradually stepping back from day-to-day operations, fostering a culture that prioritizes youthful perspectives in game development [23]. AI Integration in Gaming - The integration of AI is highlighted as a critical factor for future growth, with plans to embed AI across all aspects of game development and operations [25][28]. - AI is being utilized to enhance gameplay experiences, such as creating dynamic NPCs that interact with players in real-time, thus improving engagement and satisfaction [29].

以下文章来源于中国企业家杂志 ，作者李晓天 将投中网设为"星标⭐"，第一时间收获最新推送 巨人网络或许能回到主牌桌上。 作者丨 《中国企业家》见习记者 李晓天 记者 马吉英 见习编辑｜张昊 编辑｜马吉英 来源丨 中国企业家杂志 中国企业家杂志 . 讲好企业家故事，弘扬企业家精神 1月2日，巨人网络市值终于重回"千亿俱乐部"。 去年9月，当它的股价突破了40元时，就有媒体开始为这一刻"倒计时"，因为它过去一年涨势凶猛，年初时股价还在11元上下。虽然此后下跌，它在千 亿元市值上没停留太久，但这已不影响投资者的高预期。 最显性的变化是《超自然行动组》的出现，这是去年行业公认的大黑马之一。去年1月正式上线后，从畅销榜的增长曲线来看，它的排名从6月开始快速 上升，并在7月达到新高——游戏同时在线人数突破100万，在iOS免费榜和畅销榜最高拿到过Top2和Top4的成绩，此后长期稳定在Top20以上的水 平。 其核心玩法正是当下最流行的"搜打撤（物资搜索、战斗对抗及撤离目标）"，玩家可1~4人组队，探索神秘未知的古迹。它还处在"微恐"赛道中，因为 与网易旗下爆款产品《第五人格》高度重合，对后者造成了业绩冲击，网易CEO丁 ...

来源：中国企业家杂志 1月2日，巨人网络市值终于重回"千亿俱乐部"。 去年9月，当它的股价突破了40元时，就有媒体开始为这一刻"倒计时"，因为它过去一年涨势凶猛，年初时股价还在11元上下。虽然此后下跌，它在千亿 元市值上没停留太久，但这已不影响投资者的高预期。 最显性的变化是《超自然行动组》的出现，这是去年行业公认的大黑马之一。去年1月正式上线后，从畅销榜的增长曲线来看，它的排名从6月开始快速上 升，并在7月达到新高——游戏同时在线人数突破100万，在iOS免费榜和畅销榜最高拿到过Top2和Top4的成绩，此后长期稳定在Top20以上的水平。 其核心玩法正是当下最流行的"搜打撤（物资搜索、战斗对抗及撤离目标）"，玩家可1~4人组队，探索神秘未知的古迹。它还处在"微恐"赛道中，因为与 网易旗下爆款产品《第五人格》高度重合，对后者造成了业绩冲击，网易CEO丁磊还在财报电话会中专门提到了竞品的影响。 在新游戏带动下，巨人网络去年第三季度的营收达到17.06亿元，同比大增115.63%，归母净利润为6.4亿元，同比增长81.19%。 如果能再复制一款"非共识型产品"，巨人网络或许能回到主牌桌上。 文｜《中国企业家》见 ...