今日市场风格切换，银行、白酒等蓝筹上涨，上证50领涨，科技题材分化休整。资源股普涨，稀土因涨 价及新矿物发现、锂矿因"反内卷"逻辑和期货上涨带动小金属、有色金属板块。化工方面沧州大化两连 板。盘中诸多题材冲高回落，如CPO、Kimi概念等。军工、电气风电异动。游戏、消费电子等板块跌幅 居前。沪指三连阳创年内收盘新高，市场方向不明，资金在蓝筹与科技间摇摆。今晚宇树科技启动IPO 辅导，最快10月申请上市。管理层需指数"慢牛"实现IPO定向输血科技企业，目前指数可维持，后期 IPO增多难度或增大，一股君仍相对看好下半年科技风格。 股票名称["沧州大化","新易盛","中际旭创","建设工业","航天动力（维权）","电气风电"] 板块名称["银行","白酒","稀土","锂矿","小金属","有色金属","煤炭","TDI概念","CPO","Kimi概 念","AIAgent概念","军工","光刻机","游戏","消费电子","PCB","光伏"] 风格切换、慢牛、科技风格 看多看空沪指三连阳创出年内收盘新高，市场资金较为充裕，管理层需要指数"慢牛"来实现IPO定 向输血任务，且相对更看好下半年科技风格，所以 ...

游戏行业专家交流 20250409 2025-04-11 摘要 • 腾讯游戏 2025 年 Q1 整体表现良好，《王者荣耀》同比增长约 5%，流水 达 169 亿元；《和平精英》同比增长 9%，但受内部竞争影响，全年涨幅 或将放缓。《无畏契约》流水超越《英雄联盟》，成最大端游产品，同比 增长 18%。 • 新游方面，《DNF 手游》Q1 流水接近 40.5 亿人民币，预计 Q2 将下降； 《三角洲行动》Q1 流水达 11 亿人民币，预计全年可达 45 亿人民币。 《暗区突围》预计月底上线，年收入预期为 32 亿元，但流水或将下滑。 • 腾讯计划推出名为 3D One 的移动主机，对标 Steam Deck，主打裸眼 3D 技术，预计 2025 年下半年预售，2026 年出货。所有头部产品都在进 行适配。 • 腾讯尚未正式立项开发原生 AI 驱动的游戏，但已将 AI 玩法融入现有研发 中的游戏，如《王者世界》和《怪物猎人》手游，将体现 AI 对话推动、AI 宠物、AI 陪伴等功能。 • 金铲铲通过引入 AIGC 技术优化皮肤等商业化产品的生产流程，T2 级皮肤 生产周期优化超过 20%。王者荣耀也已引入 AI ...

今天分享的是：2025年H1全球移动广告市场营销策略白皮书 报告共计：59页 《2025年H1全球移动广告市场营销策略白皮书》围绕海外手游与应用的市场及营销展开分析，涵盖现状、趋势、策略及案例等 多方面内容。 在海外手游领域，白皮书呈现了市场现状与发展趋势，涉及广告投放趋势、主要流向、素材特征等内容，并列出2025上半年海 外手游推广榜。同时，针对角色扮演、策略、休闲等重点类别赛道，从广告趋势、推广榜及创意洞察三个维度进行竞争洞察， 为相关从业者提供赛道参考。 移动广告策略方面，提及分析体系新升级，AppGrowing能助力出海企业提升营销竞争力，还探讨了游戏出海广告营销趋势新变 化及提升移动广告策略分析能力的相关内容。此外，通过点点互动、Kingshot、柠檬微趣等海外手游厂商及产品的营销案例，拆 解其产品发行布局、广告投放及创意策略等。 海外应用市场同样是重点，涵盖市场现状与发展趋势，包括广告投放趋势、主要流向、素材特征及2025上半年海外应用推广榜 等。在重点类别赛道竞争洞察上，聚焦AI应用、小说应用、短剧应用，分析各自广告市场投放趋势、推广榜及创意洞察等，如 海外AI应用涉及主要细分类型产品投放榜和网 ...

36氪获悉，近日，广东省橘帝堂健康管理股份有限公司宣布完成1000万元天使轮融资。本轮融资将主要 用于深化互联网医院平台建设、拓展健康产品供应链及推动"橘帝堂"品牌连锁门店的规模化发展。 整理｜兰杰 Busy Money "橘帝堂"完成千万级天使轮融资 橘帝堂成立于2024年11月，是一家专注于健康食品供应链的企业，主要从事药品、保健品及健康食品的 研发、管理、生产、销售等业务。 纯粒NFC鲜榨玉米汁所属企业完成A轮融资 据IT桔子消息，近日，以功能性玉米饮品研发为导向的玉米科技有限公司宣布完成A轮融资，将进一步 推动鲜榨玉米汁产品的技术创新与市场拓展。作为主打健康概念的饮品，纯粒NFC玉米汁以"非浓缩还 原"工艺为亮点，保留玉米天然风味与营养成分，契合当下消费者对健康饮食的需求趋势。 "枫蓝咖啡"获得5000万融资 近日，成都枫蓝时代餐饮管理有限公司旗下品牌"枫蓝咖啡"完成A轮5000万融资。此次融资投资方未透 露，获投资金将重点用于三个方向：一是深化供应链建设，与全球优质产区建立更紧密的直采合作；二 是加速门店拓展；三是投入产品研发，探索咖啡与多元风味的融合，推出更具创意的饮品与周边。 灵境AI完成数千万 ...

行业分析师指出，微软此举是"回归核心竞争力的必然选择"。近年来，该公司通过1900人大规模裁员、关闭The Initiative工作室、砍掉《完美黑暗》等项目，集中资源开发《毁灭战士：黑暗纪元》等3A大作，并为即将上市的 ROG Xbox Ally掌机铺路。数据显示，微软游戏业务收入已连续四个季度保持两位数增长，而影视内容销售占比 不足1%，剥离非核心业务有助于提升资本效率。 微软的退出被视为流媒体市场竞争白热化的缩影。近年来，苹果、亚马逊等科技巨头持续加码原创内容投入，而 传统媒体公司如华纳兄弟探索、派拉蒙全球则通过合并重组应对挑战。在此背景下，微软选择"退一步海阔天 空"，将资源倾斜至游戏订阅服务Xbox Game Pass（XGP）。截至2025年第二季度，XGP订阅用户已突破5000万， 成为微软娱乐生态的支柱。 微软的战略调整与其整体业务布局密切相关。2024年，微软以687亿美元收购动视暴雪后，游戏业务收入占比已超 过30%，成为仅次于云计算的第二大利润源。与此同时，Azure云服务通过为Netflix、索尼PS Now提供底层技术支 持，间接渗透流媒体市场。这种"退居幕后"的模式，或成为微软在娱 ...

中经记者 李哲 北京报道 受部分老游戏流水下滑、新游戏上线后推广效果不及预期拖累，电魂网络（603258.SH）预计上半年业 绩由盈转亏。 近日，电魂网络披露的业绩预告显示，其预计上半年净利润亏损750万至1100万元。《中国经营报》记 者注意到，这是自2016年上市以来，电魂网络首次在半年报期间出现亏损。 事实上，近年来电魂网络的营业收入及净利润长期处于下滑态势。这与其主营游戏作品《梦三国》系列 端游的经营业绩表现不佳息息相关。这一系列端游作品的最初版本《梦三国》于2009年上线，随后2015 年《梦三国2》上线。2024年财报显示，《梦三国》系列端游在电魂网络的营收占比达65.27%。 上半年业绩预亏 根据电魂网络披露的业绩预告，其上半年预计实现归属于母公司所有者的净利润为-1100万元至-750.00 万元；预计归属于母公司所有者的扣除非经常性损益后的净利润-1800万元至-1200万元。而在2024年上 半年，电魂网络的净利润为5930.69万元。 对于上述业绩表现，记者联系电魂网络方面采访，截至发稿未获回应。 此前，在2020年，电魂网络旗下核心游戏作品《梦三国2》突破历史最高充值纪录，并于2021 ...

观点指数在7月1日观点指数研究院发布的《产业生态赋能 | 2025年6月商办与办公空间发展报告》中，其认为现阶段，运营能力已成为核心竞争力，写字楼 项目需跳出空间租赁思维，将办公载体转化为产业生态平台。 据国家统计局披露的数据，2025年1-5月，全国办公楼开发投资额和销售额累计值分别为1412亿元和1033亿元，分别同比下滑16.3%和10.8%。 同期办公楼新开工面积和竣工面积累计值分别为615万平方米和558万平方米，分别同比下滑24.1%和6.7%。 从数据来看，当前全国办公楼市场处于低迷状态，投资、销售、建设各环节均面临困境。市场呈现出供大于求的局面，且短期内需求难以有效提升。未来， 办公楼市场的复苏需要依赖宏观经济环境改善后，企业的信心和扩张意愿增强。同时，也需要通过产业结构调整与升级，催生新的办公需求，如新兴产业的 发展对办公空间的新需求等。 写字楼市场深度调整阶段，也有部分写字楼企业/项目通过差异化定位、产业运营与服务创新等实现逆势增长。 据中海商务官微披露，2024年全年，上海中海中心写字楼项目净吸纳量录得7万平方米，跻身全市写字楼去化量的首位，成为上海写字楼新的流量王。 据观点指数了解，上 ...

Market Overview - On July 18, the A-share market opened high and experienced slight fluctuations, with the Shanghai Composite Index facing resistance around 3534 points[2] - The market saw strong performance in sectors such as non-ferrous metals, coal, education, and fertilizers, while gaming, automotive services, consumer electronics, and photovoltaic equipment lagged[3] - The Shanghai Composite Index closed at 3534.48 points, up 0.50%, while the Shenzhen Component Index rose 0.37% to 10,913.84 points[7] Valuation and Trading Volume - The average price-to-earnings (P/E) ratios for the Shanghai Composite and ChiNext indices are 14.47 times and 39.96 times, respectively, indicating a mid-range valuation over the past three years[3] - Total trading volume for the two markets reached 15,935 billion yuan, above the median of the past three years[3] Economic Indicators - China's economy continues to show moderate recovery, driven by consumption and investment, with June CPI rising by 0.1% year-on-year and PPI declining by 3.6%[3] - The Federal Reserve maintained interest rates in June, but the path for potential rate cuts remains uncertain, which could significantly boost global risk appetite[3] Investment Strategy - A balanced investment strategy is recommended, focusing on stocks with better-than-expected mid-year performance and reasonable valuations[3] - Short-term investment opportunities are suggested in coal, non-ferrous metals, finance, and education sectors[3] Risks - Potential risks include unexpected overseas economic downturns, domestic policy changes, and macroeconomic disturbances that could affect recovery[4]

Core Viewpoint - Yalla Technology (YALA) shows positive financial growth with a revenue increase of 6.54% and a net profit growth of 17.4% as of March 31, 2025, indicating a strong performance in the social networking and entertainment sector in the MENA region [1][2]. Financial Performance - As of March 31, 2025, Yalla Technology reported total revenue of $83.87 million, reflecting a year-over-year growth of 6.54% [1]. - The company's net profit attributable to shareholders reached $37.09 million, marking a significant increase of 17.4% compared to the previous year [1]. Company Overview - Yalla Group Limited is the largest voice-centric social network and entertainment platform in the MENA region, operating two flagship mobile applications: Yalla, a voice-based group chat platform, and Yalla Ludo, a casual gaming app [2]. - The company has expanded its content offerings to create a comprehensive ecosystem focused on meeting the evolving online social networking and entertainment needs of users in the MENA region [2]. - Yalla's ecosystem includes YallaChat, a messaging product tailored for Arabic users, and Waha, a social network designed for the metaverse, along with various games that support the local gaming community [2]. Market Expansion - Yalla is actively exploring markets outside the MENA region, having launched a Ludo game called Yalla Parchis targeted at the South American market [2]. - The mobile applications provide a seamless user experience, fostering loyalty and a sense of belonging among users through attention to detail and localization [2].

Core Insights - Virtuos, a prominent game outsourcing company, is undergoing a significant layoff affecting approximately 300 employees, which is about 7% of its global workforce [1][3][4] - The layoffs are part of a strategic adjustment to meet the evolving demands of the gaming industry, particularly in high-value collaborative development [3][4][10] - The company has recently focused on larger-scale projects, such as the remastering of "The Elder Scrolls IV: Oblivion," which has led to increased resource allocation but insufficient financial returns [6][8][10] Company Overview - Virtuos was established in 2004 in Shanghai and later moved its headquarters to Singapore, currently employing around 4,200 people globally [1][3] - The company has made several acquisitions in North America and Europe to enhance its capabilities in visual effects, design, and creative development [1][3] Layoff Details - The layoffs will primarily affect departments experiencing reduced business demand due to structural changes in the industry, with around 200 positions in Asia and 70 in Europe [3][4] - The French division, which is part of the core development team for "Oblivion Remastered," is minimally impacted, with fewer than 10 positions affected [3][4] Strategic Shift - Virtuos is shifting its focus from the competitive light repair market to larger projects, similar to Bluepoint Games, which has raised concerns about profitability despite high-quality output [6][10] - The company has implemented cost-cutting measures, including salary freezes and reduced bonuses, prior to the layoffs, indicating financial strain [8][10] Industry Context - The layoffs at Virtuos are reflective of broader challenges faced by major gaming companies, including Microsoft and Sony, which are also experiencing layoffs and project cancellations [11][13] - The gaming industry is currently perceived to be in a downturn, impacting outsourcing firms like Virtuos that rely heavily on contracts from larger studios [13][15]