Core Viewpoints - The report highlights a mixed performance in the A-share market, with the Shanghai Composite Index down by 0.07% and the Shenzhen Component Index and ChiNext Index up by 0.39% and 0.59% respectively, indicating a divergence in market sentiment [1] - The report notes that the Ministry of Commerce and other departments have optimized the exit tax refund policy to stimulate inbound consumption, lowering the minimum refund threshold from 500 yuan to 200 yuan and increasing the cash refund limit from 10,000 yuan to 20,000 yuan [2] - The Central Political Bureau emphasized the importance of self-reliance and application-oriented development in artificial intelligence, aiming for a healthy and orderly advancement of AI technology [2] Market Performance - The report provides a summary of domestic market performance, with the Shanghai Composite Index closing at 3,295.06 points, down 0.07%, while the Shenzhen Component Index and ChiNext Index saw increases of 0.39% and 0.59% respectively [4] - Internationally, major indices such as the Dow Jones and S&P 500 saw slight increases, with the Dow up 0.05% and the S&P 500 up 0.74% [4] Industry Insights - The report discusses the ongoing optimization of policies to stabilize the consumption sector, with a focus on increasing income for low- and middle-income groups and promoting service consumption [7] - The Central Political Bureau's meeting on April 25 highlighted the establishment of new policy financial tools to support consumption and stabilize foreign trade, indicating a proactive approach to economic management [6][7] - The report emphasizes the potential for growth in the gaming industry, with the approval of multiple game titles, including Tencent's "Path of Exile: Ascendancy," reflecting a normalization in the issuance of game licenses [15] Investment Recommendations - The report suggests focusing on sectors that will benefit from policy support, including tourism, duty-free, hotel, and restaurant industries, as well as domestic beauty brands that are gaining market share [8] - In the real estate sector, the report indicates that the market is stabilizing, with expectations for continued policy support to enhance housing consumption [11][12] - The report highlights the importance of the AI and pharmaceutical sectors, recommending attention to AI drug development and smart healthcare supply chains as key growth areas [19]

南方财经全媒体记者吴立洋实习生隆欣玲上海报道 本周，国内游戏业迎来多项政策利好，引发广泛关注。 具体来看，国务院出台方案明确支持游戏出海，布局从IP打造到运营的全产业链；教育部宣布将"游戏 艺术设计"专业首次列入本科专业目录，中国传媒大学等三所高校获批设置该专业；国家新闻出版署公 布了4月游戏版号审批信息，共127款新游戏获批。 国内游戏方面，多家企业发布财报及新动向。吉比特2025年Q1营业收入11.36亿元，同比增长22.47%； 巨人网络2024年净利润增长31%，小游戏业务增长显著；冰川网络2024年净利润亏损2.47亿元，同比下 降约190%，主因海外买量投入高企；在2024年业绩下滑后，完美世界、游族网络2025年一季度营收、 利润重回增长；腾讯Spark2025游戏发布会公布46款游戏动态，其中包括24款游戏新品；儒意景秀与 NBA中国达成合作，计划开发两款手机游戏，拓展体育游戏赛道；网易游戏全球投资与合作部总裁朱 原离职，李日强接任。 海外及合规监管方面，欧盟委员会对苹果和Meta因违反《数字市场法案》罚款7亿欧元，其中苹果因限 制第三方支付渠道被罚5亿欧元，Epic Games发声指控其不正 ...

" 谁能在存量市场的「大逃杀」里找出一条新路？ " 作者丨胡家铭 编辑丨董子博 4月21日，国家新闻出版署公布了4月国产网络游戏审批信息，还包括新一批进口游戏审批信息，此次合计 127款游戏过审。 在本月获批版号的国产游戏中，"休闲益智"类游戏产品的比例有所下降，为46款，占本月版号数量的 39%。 从游戏平台来看，本次版号发放移动游戏仍占绝对多数，达110余款。国产游戏中的纯端游只有厦门泊游 《海之乐章：回归》、成都星奕《山门与幻境》2款；PC手机"双跨"产品4款，包括网易雷火《极限战 场》、完美世界《迷失》、深圳凉屋《魂坠深境》、腾讯（萨罗斯网络）《命运扳机》 大厂和上市公司方面，腾讯代理的《流放之路：降临》（即流浪之路2）获批，目前预约人数超过200万。 此前《流浪之路2》上线抢先体验版时，Steam同时在线人数峰值即突破57万人。 此外，腾讯的《命运扳机》，是去年9月面向海外测试的游戏《FateTrigger：TheNovita》的国服版本， 其"二次元+射击"的游戏类型，此前业内并无类似竞品。 值得注意的是，腾讯此前已经在战术射击、"搜打撤"等射击游戏子品类多有布局，《命运扳机》无疑对腾 讯的射击游 ...