假如我说一款二次元卡牌游戏，单局动辄一小时，局内玩法要素较多，有一定的学习门槛，角色涩度中规中矩，你会考虑去玩吗？ 《卡厄斯梦境》就是这样的一款游戏。可能部分读者没听过这款游戏，它于今年8月拿到版号，在B站上只发过2个视频，国际服也仅是今日11点刚刚上 线。然而，就是这样的一款游戏，在昨天开放预下载后便在美国、日韩、港澳台等多国登顶免费榜。 | 地区 | 总榜 : | 游戏 ÷ | 角色扮演 = | | --- | --- | --- | --- | | * 中国香港 | 2 | | | | TW 中国台湾 | | | | | ● 日本 | 2 | | | | 中国澳门 | 4 | | | | ●; 韩国 | 3 | 2 | 2 | 它是何方神圣？首先，它的来头不小。《卡厄斯梦境》由韩国厂商Smilegate（笑门）研发，笑门是一家老牌厂商，曾经做过《穿越火线》这样的国民级射 击游戏，还做过曾在全球狂揽50亿流水的二游《第七史诗》，由于美术精度延续了《第七史诗》的水平，一些玩家也称《卡厄斯梦境》为"第九史诗"。 而在国服，《卡厄斯梦境》由腾讯代理，众所周知，腾讯代理二游眼光极高，基本代理过的二游都有其他竞品所 ...

Investment Rating - The report maintains a "Recommended" rating for the gaming industry, indicating a positive outlook for the sector [3][6]. Core Insights - In August 2025, a total of 173 game licenses were issued, with 166 being domestic and 7 imported, marking a significant increase in the number of licenses issued compared to the same period in 2024 [1][6]. - The report highlights key games that received approval, including titles from major companies such as Tencent, NetEase, and Bilibili, which are expected to contribute positively to their respective revenues [6]. - The issuance of game licenses has been stable and consistent throughout 2025, with a total of 1,050 domestic and 69 imported licenses issued so far this year, reflecting a strong recovery in the gaming market [6]. Industry Overview - The gaming industry is characterized by a total of 160 listed companies, with a total market capitalization of 2,014.6 billion and a circulating market capitalization of 1,832.2 billion [3]. - The absolute performance of the industry has shown a significant increase of 75.8% over the past 12 months, indicating strong growth potential [5]. - The report emphasizes the ongoing success of established games and the potential for new releases to drive revenue growth, particularly for companies like Tencent and Giant Network [6].

Group 1 - The A-share market for online gaming stocks has shown strong performance, with Sanqi Interactive Entertainment hitting the daily limit and reaching a new high since December 2023, while Icefire Network rose over 5% [1] - The gaming ETF from Huatai-PineBridge has increased by over 2%, with a year-to-date gain of 50% [2] - The gaming ETF tracks the CSI Animation and Gaming Index, reflecting the overall performance of A-share listed companies in the animation and gaming industry [3] Group 2 - Sanqi Interactive Entertainment announced a projected revenue of 8.486 billion yuan and a net profit of 1.4 billion yuan for the first half of 2025, representing a year-on-year growth of 10.72%. The company plans to distribute a cash dividend of 2.10 yuan per 10 shares, totaling approximately 462 million yuan [3] - The National Press and Publication Administration approved a record 166 domestic online games on August 25, marking a historical high. In the first eight months of this year, 1,050 domestic game licenses have been issued, significantly higher than the 850 issued during the same period last year [4] - The gaming industry in China continued to grow in July 2025, with the domestic market size reaching 29.084 billion yuan, a year-on-year increase of 4.62%. Mobile gaming grew by 0.92%, while client games saw a 16.56% increase [4]