Core Viewpoint - The document lists various mobile and client-based publications approved for release in 2026, indicating a growing trend in digital media and gaming content in the Chinese market [2]. Group 1: Publication Details - "宝石战争" is a mobile and client-based publication approved by Jiangsu Phoenix Digital Media and Shenzhen Zhongshun Heying Technology, with an ISBN of 978-7-498-16535-0, approved on February 26, 2026 [2]. - "基地:银河纵横" is another mobile publication from Tianjin Electronic Publishing House and Beijing Energy Box Technology, with an ISBN of 978-7-498-16536-7, also approved on February 26, 2026 [2]. - "飘流幻境新世界" is a mobile and client-based publication by Beijing Longtu Zhiku Technology and Beijing Daqian Huyou Technology, with an ISBN of 978-7-498-16537-4, approved on February 26, 2026 [2]. - "神泣:光与暗" is a mobile and client-based publication from Shaanxi Sanqin Publishing House and Xi'an Chuangtian Network Technology, with an ISBN of 978-7-498-16538-1, approved on February 26, 2026 [2]. - "小浣龍百将传2" is a mobile publication by Jiangsu Phoenix Audio-Visual Publishing and Jiangsu Sanjiu Huyou Network Technology, with an ISBN of 978-7-498-16539-8, approved on February 26, 2026 [2]. - "辛特堡传说" is a mobile publication from Beijing United Publishing and Beijing Longwei Interactive Technology, with an ISBN of 978-7-498-16540-4, approved on February 26, 2026 [2].

Core Insights - The National Press and Publication Administration has approved a total of 146 domestic online games in February 2026, including titles such as "Xuan Tian Ji" by Zhongqingbao [1][3]. Group 1: Game Approvals - A total of 146 games were approved in February 2026 [1]. - Notable titles include "An Shi Chong Tu," "Bai Yao Yi Xing," and "Bu Xiu De Yong Shi" among others [3][4]. - The approval process reflects ongoing regulatory support for the gaming industry in China [1]. Group 2: Publishing and Operating Companies - Various companies are involved in the publishing and operation of the approved games, including Beijing Campus Star Technology and Guangzhou Yingzheng Information Technology [3][4]. - The list of approved games includes a mix of mobile and client-based games, indicating a diverse range of offerings in the market [3][4]. Group 3: Approval Dates and Documentation - All approved games received their approval on February 26, 2026, with corresponding approval numbers and ISBNs assigned [3][4][5]. - The documentation includes specific details such as the type of game (mobile, client, etc.) and the responsible publishing and operating companies [3][4].

Group 1 - Perfect World shares increased by 7.46%, reaching 22.77 CNY per share, with a trading volume of 254 million CNY and a turnover rate of 0.61%, resulting in a total market capitalization of 44.173 billion CNY [1] - Perfect World Co., Ltd. was established on August 27, 1999, and went public on October 28, 2011. The company is primarily engaged in the development, publishing, and operation of online games, as well as film and television production and distribution [1] - The revenue composition of Perfect World includes: 50.18% from PC online games, 26.23% from mobile online games, 20.29% from TV series and short dramas, 1.85% from other game-related businesses, 0.50% from other film-related businesses, 0.48% from other sources, and 0.47% from console games [1] Group 2 - One fund under AVIC Fund holds a significant position in Perfect World, with the AVIC Excellence Leading Mixed Fund A (026078) owning 125,000 shares, accounting for 9.55% of the fund's net value, making it the third-largest holding [2] - The AVIC Excellence Leading Mixed Fund A was established on December 4, 2025, with a latest scale of 11.9984 million CNY and a year-to-date return of 1.04%, ranking 7557 out of 8887 in its category [2] Group 3 - The fund manager of AVIC Excellence Leading Mixed Fund A is Fang Cen, who has been in the position for 2 years and 335 days, with a total asset scale of 50.8302 million CNY and a best return of 4.37% during his tenure [3] - Liu Yanwei, another fund manager, has been in the position for 67 days, managing assets totaling 21.4493 million CNY, with a best return of 4.42% during his short tenure [3]

Group 1 - The core viewpoint of the article highlights the recent stock price fluctuations of Ninth City (NCTY.US), with a notable increase of 6.06% on January 6, 2026, closing at $7.00 with a trading volume of 522 shares [1] - The company is undergoing a business transformation, primarily focusing on the development and operation of online games, while also expanding into blockchain and cryptocurrency mining [1] - Ninth City has formed joint ventures with companies like Qingcheng Network Technology, focusing on mobile game operations during the period from 2025 to 2026 [1] Group 2 - Currently, there is no significant upcoming event identified in public information, such as new product launches or financial report schedules [1]

Group 1 - The company, Zulong Entertainment (09990), announced the issuance of 8.8 million restricted share units to 31 grantees on February 16, 2026, subject to acceptance by the grantees [1]

Core Viewpoint - The announcement details the shareholding changes of a major shareholder, Hu Yubiao, at Hangzhou Dihun Network Technology Co., Ltd., including the execution and early termination of a share reduction plan [1][2]. Group 1: Major Shareholder's Holdings - Before the share reduction plan, Hu Yubiao held 19,300,000 shares, representing 7.91% of the total shares of the company [1]. Group 2: Share Reduction Plan Implementation Results - Hu Yubiao planned to reduce his holdings by up to 2,438,967 shares (1.00% of total shares) through centralized bidding [2]. - From January 5 to February 13, 2026, Hu Yubiao reduced his holdings by 2,400,000 shares, decreasing his ownership from 7.91% to 6.93% [2][4]. - The share reduction plan was terminated early due to market conditions and other factors, despite being over half of the planned time frame [2]. Group 3: Compliance and Other Notes - The share reduction was executed in compliance with relevant laws and regulations, and it did not violate any prior commitments [3][4]. - The reduction did not trigger a mandatory tender offer, and no additional disclosure of the equity change report was required [4].

Market Overview - The A-share market experienced a narrow fluctuation on February 10, with mixed performance across the three major indices. The Shanghai Composite Index rose by 0.13%, while the Shenzhen Component increased by 0.02%, and the ChiNext Index fell by 0.37% [1] - The total trading volume in the A-share market was 2.12 trillion yuan, a decrease of 145.5 billion yuan compared to the previous trading day. Out of 3,157 stocks, 2,222 rose while 3,157 declined [1] Sector Performance - The sectors that saw significant gains included film and television, short drama games, Sora concept (text-to-video), intellectual property protection, cultural media, mobile games, AI predictions, and online games [1] - Conversely, sectors that experienced declines included precious metals, liquor, cultivated diamonds, photovoltaic equipment, zinc, gold concepts, perovskite batteries, duty-free shops, and horse racing concepts [2] AI Video Generation Impact - ByteDance's AI video generation model, Seedance 2.0, has gained significant attention for its ability to create high-quality videos from text or images in just 60 seconds. This innovation is expected to reshape the content production industry by reducing costs and production cycles [6] - The introduction of Seedance 2.0 is anticipated to accelerate the development of the short drama and animation sectors, which are currently facing challenges such as high costs and long production times. The model's capabilities are expected to lower production costs and increase industry capacity [7] Market Sentiment and Predictions - As the Lunar New Year approaches, investors are faced with the decision to hold stocks or cash. Historical data suggests a tendency for the Shanghai Composite Index to rise around the holiday period, with 7 out of the last 10 years showing gains [8] - Multiple institutions express optimism regarding the market's performance around the New Year, with a prevailing recommendation to "hold stocks for the holiday." This sentiment is supported by recent policy measures aimed at enhancing market confidence and liquidity [9] - Current valuation levels indicate that the overall A-share index price-to-book ratio has dropped to 1.90, which is at the historical median level. Earnings forecasts suggest a shift in focus from valuation to profitability, with certain sectors like technology manufacturing showing positive trends [10]

Core Viewpoint - The A-share market experienced slight declines with a notable structural divergence, highlighted by a surge in the media sector driven by refinancing policy optimization and breakthroughs in AI video technology [1][3] Market Performance - The major indices in the A-share market showed minor declines, with the Shanghai Composite Index down 0.02% to 4122.34 points, and total trading volume around 1.39 trillion yuan, indicating cautious trading behavior [1][2] - The media sector led the gains with a 5.34% increase, while traditional sectors like food and beverage, real estate, and retail faced declines [2] Sector Analysis - The media sector's strong performance is attributed to supportive policies, particularly the optimization of refinancing policies that favor "light asset, high R&D investment" companies, enhancing their financing environment [3] - AI technology advancements, particularly the attention on ByteDance's AI video generation model Seedance 2.0, are expected to revolutionize production tools in the media industry, leading to significant efficiency and cost improvements [3] Capital Flow - There was a significant net inflow of over 1 billion yuan into the network gaming sector, indicating that the media sector's rise is supported by institutional and large-cap funds rather than just retail speculation [4] - The Hong Kong market showed strong performance, particularly in the innovative drug sector, with the Hang Seng Index up 0.58% and the Hang Seng Tech Index up 0.96%, reflecting a cross-market investment strategy focusing on growth certainty [4] Future Outlook - The structural divergence in the market is expected to continue, with sectors like media and technology benefiting from policy support and technological catalysts, while consumer and real estate sectors may remain under pressure until clear recovery signals emerge [5] - The Hong Kong market, especially the tech and innovative drug sectors, may outperform the A-share market due to improving external conditions and performance progress [5]

Core Viewpoint - The return of QQ Farm has sparked significant interest and engagement on social media, reminiscent of its initial launch period, indicating a revival of nostalgic gaming experiences in a modern context [2][14]. Group 1: Game Features and Mechanics - The revived QQ Farm retains its simple mechanics of planting, harvesting, and interacting with friends, which were the core attractions of the original game [14]. - The game introduces elements of competition and strategy, such as stealing crops from friends, which enhances the social interaction aspect and adds a layer of excitement [15][16]. - Players are experiencing a heightened sense of engagement due to the game's mechanics, which encourage both cooperation and rivalry among friends [15][16]. Group 2: Social Dynamics and Nostalgia - The return of QQ Farm has created a unique social atmosphere where players reconnect and engage in playful competition, reminiscent of earlier social interactions from a decade ago [11][18]. - The game serves as a platform for rekindling friendships and social connections that may have faded over time, highlighting the importance of light-hearted social gaming in today's digital landscape [18]. - The nostalgia associated with QQ Farm is drawing in not only older players but also younger generations, creating a cross-generational appeal that enhances its popularity [18].

营造清朗网络空间 徐汇区人民法院知识产权庭副庭长于是指出，网络游戏产业内出现的诋毁性虚伪信息具有"低成 本"与"高损害"的失衡特质。法人名誉权侵权与商业诋毁之间有很大概率会出现请求权基础上的竞合， 而且这两条路径并非泾渭分明，也没有严格意义上的优劣之分。实践中可以将商业诋毁案件维权的关键 要点有机拆解成行为的竞争性、信息的虚伪性、指向的特定性，以及损害的可能性，并基于这四项核心 要件开展进一步维权。 徐汇公安分局网安支队管理组警长李斌分享了支队在打击涉企谣言方面的实践。针对涉企网络"黑嘴"、 舆情敲诈等问题，支队结合"净网""砺剑"等专项行动，对利用网络散布谣言、诋毁商誉、攻击企业负责 人的行为依法处理，对辟谣后仍发布谣言的违法人员予以重点打击，消除影响。他表示，支队还依 托"守沪e站"、网安警务室等警企对接平台，拓宽涉企谣言反映渠道，并督导平台压实主体责任，及时 屏蔽、删除涉企不实信息，切实保障企业合法权益，营造清朗网络空间。 面对上述痛点、难点，行业各方应当如何协同，对诽谤与拉踩行为进行有效治理？研讨会上，来自司法 界与学术界的专家们也立足各自视角给出了极具价值的建设性建议。 本报记者 孙云 新的困境与挑 ...