中经记者李哲北京报道 一年前，凯撒文化（002425.SZ）因虚增收入遭到监管机构处罚，被实施其他风险警示。经过整改后， 其终于在近日成功"摘帽"。 不过，《中国经营报》记者注意到，凯撒文化尽管被撤销其他风险警示，但其业绩表现并不乐观，仍处 于亏损状态。2025年前三季度，凯撒文化实现营业收入4.2亿元，同比增长28.62%，净利润亏损1.08亿 元，同比下滑12.49%。 虚增收入被罚 将时针回拨至一年前。根据凯撒文化公告，其于2024年4月30日收到中国证监会下发的《立案告知书》 （编号：证监立案字0062024005号），并于2024年9月13日收到中国证监会广东监管局下发的《行政处 罚事先告知书》（广东证监处罚字〔2024〕24号，以下简称《告知书》）。 根据《告知书》，凯撒文化为减少应收款的坏账损失，在与供应商开展业务过程中，将资金从公司或子 公司经供应商流转至指定客户，相关客户按要求向公司或子公司回款。凯撒文化将收到的回款用以冲销 应收款，2021年少提坏账准备1524.67万元，虚增利润1524.67万元，占当期披露利润总额的15.55%。凯 撒文化2021年年度报告存在虚假记载。上述违法事实， ...

中经记者 李哲 北京报道 一年前，凯撒文化（维权）（002425.SZ）因虚增收入遭到监管机构处罚，被实施其他风险警示。经过 整改后，其终于在近日成功"摘帽"。 仍未扭亏 凯撒文化曾以服装、服饰的设计、制造及销售为主业。2015年3月，凯撒文化收购深圳市酷牛互动科技 有限公司100%股权，进入互联网游戏领域。此外，当年通过并购，凯撒文化旗下还囊括了幻文科技、 天上友嘉等游戏、IP领域的企业。 彼时，游戏业务已成为凯撒文化的主要利润来源。2015年财报显示，文化与娱乐业占凯撒文化主营业务 的24.01%，毛利率则达到90.24%。当年凯撒文化实现净利润8091.47万元，同比增长1132.71%，经营利 润主要来源于网络游戏产业。 不过，《中国经营报》记者注意到，凯撒文化尽管被撤销其他风险警示，但其业绩表现并不乐观，仍处 于亏损状态。2025年前三季度，凯撒文化实现营业收入4.2亿元，同比增长28.62%，净利润亏损1.08亿 元，同比下滑12.49%。 虚增收入被罚 将时针回拨至一年前。根据凯撒文化公告，其于2024年4月30日收到中国证监会下发的《立案告知书》 （编号：证监立案字0062024005号），并 ...

【大河财立方 记者 王宇】12月9日晚间，ST凯文公告，公司股票将于12月10日停牌一天，12月11日起复牌并撤销其他风险警示。复牌后，股票简称将变更 为"凯撒文化"，日涨跌幅限制由5%恢复至10%。 "这场历时一年多的合规整改终迎收官，且游戏行业大环境可能进入新'黄金十年'，这都成为凯撒文化摘帽的利好。但仅仅'摘帽'，没有足够好的业绩来支 撑，修复市场信任将是一个长期工程。"12月10日，游戏产业分析师张书乐在接受大河财立方记者采访时说。 历时一年整改过关，"摘帽"只是第一步 根据《深圳证券交易所股票上市规则》的相关规定，被实施其他风险警示的公司要申请撤销，需满足两大条件。 2024年9月17日，凯撒文化公告表示，公司于9月13日收到广东证监局出具的《行政处罚事先告知书》。 告知书显示，经广东证监局查明，2021年，凯撒文化为减少应收款坏账损失，通过资金流转方式虚增利润1524.67万元，占当期披露利润总额的15.55%，致 其2021年年度报告存在虚假记载。 彼时，广东证监局合计对凯撒文化及当事人合计处罚了1300万元。除罚款之外，凯撒文化公司股票被实施其他风险警示，公司股票简称由"凯撒文化"变更 为"S ...

Group 1 - The company held an online investor meeting to address concerns regarding its operations, product launches, and financial status [1] - Several upcoming games are set to launch, including "The World of the Sky," "All-Star Awakening," and "Ultraman: The Light Warrior," with Tencent and Chao Xi Guang Nian as publishers [2] - The sale of investment properties aims to optimize the asset structure without changing the main business focus, and the properties have not yet been sold [3] Group 2 - The company raised 800 million for game development, with cumulative returns of 181.61 million as of the first half of 2025, and no losses have been recognized for unlaunched projects [4] - The overseas market has become a significant revenue component, with products like "Romance of the Three Kingdoms 2017" and "Saint Seiya: Awakening" generating stable income in Japan and South Korea [5] - Despite operational pressures, the company reported positive revenue growth year-on-year, and plans to expedite game launches to meet annual targets [6]

Core Viewpoint - Caesar Culture is facing significant financial challenges, with projected net losses for the first half of 2025, despite efforts to launch new game products and a slight revenue recovery in 2024 [2][3]. Financial Performance - The company expects a net profit attributable to shareholders of between -48 million to -65 million yuan for the first half of 2025, a change of -2.84% to -39.26% compared to a loss of 46.67 million yuan in the same period last year [2]. - Revenue for 2021 reached 933 million yuan, but dropped to 620 million yuan and 430 million yuan in 2022 and 2023, representing year-on-year declines of 33.40% and 30.65% respectively [3]. - Cumulative losses over the past two years amounted to 1.451 billion yuan, with losses of 656 million yuan and 795 million yuan in 2022 and 2023 [3]. - In 2024, revenue slightly increased to 454 million yuan, marking a growth of 5.38%, but the company remained in a loss position [3]. Business Operations - The main business of Caesar Culture includes cultural entertainment, copyright operation, and online game development and operation, with significant contributions from subsidiaries Cool Cow Interactive and Tian Shang You Jia [3]. - The company has a strong IP reserve and validated R&D capabilities, positioning itself as a quasi-first-tier player in the industry, aside from major players like Tencent and NetEase [4]. - Upcoming products for 2025 include titles such as "Zhe Tian World," "All-Star Awakening," and "Ultraman: Light Warrior," with plans to innovate in the WeChat mini-game market and embrace AI transformations in the gaming industry [4]. Regulatory and Market Position - Caesar Culture's stock has been under risk warning since September 19, 2024, with its name changed to "ST Kevin" [3]. - The company received an administrative penalty from the Guangdong Regulatory Bureau of the China Securities Regulatory Commission, allowing it to apply for the removal of risk warnings after December 4, 2025 [3].