我国游戏市场近年来保持稳健增长。2024年，国内游戏市场实际销售收入、游戏用户规模均创历史新 高。根据行业研究机构伽马数据发布的数据，今年前5月，国内游戏市场销售收入达1411亿元，同比仍 保持快速增长。 快速增长的同时，游戏市场也出现了新趋势。多家机构发布的数据显示，一些老牌游戏通过推陈出新， 始终占据各大游戏流水榜前列，并成为游戏公司收入的"稳定器"。而不断延长经典老产品的生命周期， 实现"细水长流"，成为游戏公司的重要运营策略。 老产品表现强劲 2024年，A股游戏公司世纪华通以226.2亿元收入，继续位居A股游戏公司收入榜首位。相较2023年，世 纪华通营业收入增幅超过70%，扣非净利润增幅达290%。 世纪华通的高速增长，除了受表现亮眼的海外市场和新产品推动外，老产品的稳健运营也是关键。在 2024年年报里，世纪华通提到，《冒险岛》、《热血传奇》新百区、《彩虹岛》、《龙之谷》怀旧服等 多个项目表现出色，从增量及总量上均为公司营收作出重大贡献。 游戏市场迭代迅速，尤其是移动游戏市场竞争激烈。新产品层出不穷，老产品随时面临淘汰风险，游戏 企业的"生命周期焦虑"普遍存在。但从流水榜来看，如今排名前列的"熟 ...

据介绍，有超千万的全球玩家参与了本次活动。通过直播、游戏内活动等形式将全球玩家紧密联系在一 起，凸显了游族网络在全球游戏市场的强大影响力。 作为中国游戏出海先行者，游族网络凭借其成熟的全球化发行矩阵与多样化发行实力在全球市场持续深 耕多年，并将AI等前沿科技融入发行全链条，显著提升了游戏产品的发行效率与精度。目前公司还储 备有《起源：无尽之地》《代号：SR2》等十余款新品，未来将进一步巩固和扩大其全球版图。 游族网络坚持践行"科技传颂文明"使命，以游戏形式让全球玩家充分感受中国传统文化之美。本次少年 节《少年三国志2》与国家级非遗广陵琴派深度联动，以嵇康名曲《酒狂》为灵感，推出全新武将阮籍 与嵇康，再度唤醒了玩家对中国古代四艺之一古琴的记忆。而面向员工，游族网络也安排了古琴文化赏 析等非遗体验活动，让员工感受到了中华文明的深厚底蕴与魅力。 展望未来，公司将继续秉持"科技传颂文明"之使命，坚持"文化+科技"双轮驱动，让游戏与文化互相赋 能，以游戏为载体讲好中国故事，让玩家在沉浸式体验游戏的同时感悟中华文化的魅力。 6月16日，游族网络(002174)启动了以"自游光芒Be YOUTHself"为主题的16周年庆 ...

Core Viewpoint - The A-share gaming industry in China is experiencing a structural recovery in Q1 2025 after policy adjustments and market reshuffling in 2024, with a reported revenue of 85.704 billion yuan, a year-on-year increase of 17.99% [1] Industry Overview - The gaming industry has transitioned from extensive growth to a "technology-driven content" phase, with AI and globalization as the two core tracks for future development [2] - The market landscape is increasingly polarized, with only 7 out of 17 listed gaming companies achieving growth in both revenue and profit in Q1 2025 [2] Company Performance - Century Huatong led the industry with a revenue growth of 91.12%, reaching 8.145 billion yuan, marking a historical high [3] - Youzu Network reported a revenue of 359 million yuan, a year-on-year increase of 7.29%, with a net profit of 24.7035 million yuan, up 43.74% [3] - 37 Interactive Entertainment experienced a decline in both revenue and net profit, with Q1 2025 revenue at 4.243 billion yuan, down 10.67%, and net profit at 549 million yuan, down 10.87% [3] - Perfect World saw a significant turnaround with a revenue of 2.023 billion yuan, a year-on-year increase of 52.22%, and returned to profitability [4] - Tencent and NetEase maintained stable revenue growth of 10% or more, showcasing strong market competitiveness [4] Market Dynamics - The outflow of gaming companies to overseas markets has become essential as domestic user growth plateaus, with overseas revenue becoming a core growth engine [5] - Century Huatong's overseas revenue reached 11.367 billion yuan in 2024, accounting for 50.26% of total revenue [6] - Emerging markets such as Southeast Asia and Latin America are becoming new growth points due to increased smartphone penetration and unique cultural preferences [7] Technological Advancements - The integration of generative AI technologies has significantly optimized efficiency across the gaming industry, impacting everything from development to operations [8] - Tencent reported a 24% increase in gaming revenue to 59.5 billion yuan in Q1 2025, supported by AI applications [9] - 37 Interactive Entertainment indicated that over 80% of its 2D art assets and over 30% of its 3D models were generated with AI, enhancing its competitive edge in a rapidly evolving market [10]

小红书宣布取消员工大小周、竞业 董明珠连任董事长，张伟接棒格力电器总裁 4月22日晚，格力电器宣布新一届董事会换届结果，董明珠等董事候选人全部在当天的公司临时股东大 会上当选，董明珠连任公司董事长，张伟接替董明珠任公司总裁。格力电器年轻化的管理团队走上前 台。 点评：董明珠继续担任格力电器董事长，可保持管理层稳定，并使公司的战略和经营具有一定持续性； 总裁职位由张伟接任，为格力电器今后管理层梯队发展做好人力方面的准备。外界认为，董明珠没有完 全"放手"，本次格力电器董事会换届，专业化的力量也加强了，原格力电器副总裁舒立志、格力电器总 工程师钟成堡成为新晋的非独立董事。无论如何，格力电器交接班向前迈出了一步，走稳需新老团队的 合作与智慧。 京东美团因"二选一"争执 4月21日，京东发文表示，有竞对平台再次玩起"二选一"游戏，强迫骑手不能接京东平台的秒送订单， 否则封杀。同时，为应对部分外卖订单延迟的问题，京东宣布4月21日起，所有超时20分钟以上的外卖 订单，京东全部免单。当天晚间，美团发布辟谣声明，称没有任何理由对某平台进行任何限制。 点评：这场交锋，将即时配送行业的运力争夺战推向台前。随着京东外卖以百亿补贴 ...

Core Insights - The company reported a revenue of 1.434 billion yuan for the year 2024, with overseas revenue accounting for 60.16% of total revenue, marking the tenth consecutive year it has surpassed domestic revenue [1] - In Q1 2025, the company achieved a revenue of 359 million yuan, representing a year-on-year growth of 7.29%, and a net profit attributable to shareholders of 24.7 million yuan, up 43.74% year-on-year, indicating a stable development phase [1][2] Financial Performance - The total revenue for Q1 2025 was 359,404,100.79 yuan, compared to 334,992,747.75 yuan in the same period last year, reflecting a growth of 7.29% [2] - The net profit attributable to shareholders for Q1 2025 was 24,703,463.86 yuan, up from 17,186,242.41 yuan year-on-year, showing an increase of 43.74% [2] - The basic and diluted earnings per share for Q1 2025 were both 0.03 yuan, a 50% increase from 0.02 yuan in the previous year [2] Strategic Initiatives - The company is deepening its "globalization card+" strategy by integrating resources, enhancing terminal adaptation capabilities, and applying cutting-edge technologies like AI to improve global game development and diversified publishing capabilities [3] - The company has launched several self-developed games and agency titles globally, achieving notable success [3] - The company is expanding its product offerings beyond card and SLG genres to include simulation management and Roguelike games, with over ten new game projects in development [8] AI Integration - AI technology is being integrated throughout the game development and operation processes, enhancing automation, standardization, and scalability in various areas such as art asset production and localization [9] - The company has introduced an AI companion named "Xiao You Jiang" in multiple games, providing personalized services to enhance player experience [9][11] - The company is collaborating with various institutions to promote technological innovation and sustainable development in the AI industry [11]