Summary of the Conference Call for Giant Network Industry and Company Overview - The conference call focuses on Giant Network, a company in the gaming industry, particularly known for its classic IP "Journey" series, which has generated nearly 3 billion RMB in revenue before 2023, primarily targeting male users from the 70s and 80s [2][4]. Key Points and Arguments - **Revenue Growth from New Titles**: The game "Supernatural Action Group," launched in 2025, has shown strong performance, contributing approximately 2-2.5 billion RMB in revenue from May to December 2025, with expectations to reach 4-5 billion RMB in 2026, marking it as a new growth engine for the company [2][4]. - **User Demographic Shift**: Giant Network has successfully diversified its user base, attracting younger and female users, particularly those born in the 00s and 05s, which has driven overall revenue growth from 3-4 billion RMB to an anticipated 8-9 billion RMB [2][4]. - **Long-term Game Operation Strategy**: The company has shifted from traditional MMORPGs, which rely on short-term hits, to rule-driven games like "Supernatural Action Group," allowing for long-term operation and stable revenue growth [2][5]. - **Performance of "Original Journey"**: The new flagship product "Original Journey" generated 1.5 billion RMB in its first year, achieving a growth rate of approximately 50%, significantly contributing to the company's performance [2][6]. - **Market Opportunity for Female Gamers**: By 2025, the proportion of female users in the Chinese mobile gaming market increased to 48%, presenting a market opportunity due to insufficient quality product offerings for this demographic [2][7]. Additional Important Insights - **Changing Game Market Dynamics**: The gaming market is experiencing a shift in user demographics and preferences, with emerging game genres gaining traction over traditional MMORPGs. This necessitates a focus on long-cycle innovation rather than frequent short-term releases [5][8]. - **Valuation Outlook**: Analysts are optimistic about Giant Network's future performance, suggesting that the company should enjoy a valuation premium due to its growth potential and the overall A-share gaming sector still having significant room for valuation improvement [3][9]. - **Understanding Female Players**: The success of "Supernatural Action Group" in attracting female players is attributed to its understanding of their preferences, which has led to high profitability without the need for advertising [10]. This summary encapsulates the key insights and developments discussed during the conference call, highlighting Giant Network's strategic shifts, market opportunities, and future growth potential.

巨人网络8月13日股价报28.47元，较前一交易日下跌0.11%，成交金额达14.61亿元。该公司作为游戏行 业代表企业参与了首届上海之夏国际动漫月活动。 巨人网络主营业务为网络游戏的研发和运营，旗下拥有《征途》系列等知名游戏产品。公司总部位于重 庆，是国内较早进入网络游戏行业的企业之一。 资金流向方面，巨人网络8月13日主力资金净流出1.46亿元，近五日累计净流出3.63亿元。 风险提示：游戏行业政策变化风险，市场竞争加剧风险，新产品表现不及预期风险。 近期消息显示，巨人网络与完美世界、哔哩哔哩等企业共同参与了上海国际动漫月活动。该活动汇聚了 全球480家参展方，吸引了来自日本、菲律宾等多国参与者。活动期间全网相关信息量超26万条，累计 获得近13亿订阅量。 ...

Group 1 - The stock price of Giant Network is reported at 28.83 yuan, down by 0.98 yuan from the previous trading day, with an opening price of 29.33 yuan, a high of 29.94 yuan, and a low of 28.64 yuan, with a trading volume of 523,630 hands and a transaction amount of 1.525 billion yuan [1] - Giant Network operates in the gaming industry, focusing on the research and operation of online games, with well-known products including the "Journey" series and "Ball Battle" [1] - The mobile game "Supernatural Action Group" performed exceptionally well in July, driving overall revenue growth for the company, ranking high on the iOS mobile game revenue list in China due to its unique theme and gameplay [1] Group 2 - Giant Network has been included in the MSCI China Index, with the adjustment set to take effect after the market closes on August 26 [1] - On the day of reporting, the net outflow of main funds from Giant Network was 159.7399 million yuan, accounting for 0.29% of the circulating market value, while the main funds showed a net inflow of 20.46219 million yuan over the past five days, representing 0.04% of the circulating market value [1]

兼具竞技、休闲和轻微刺激性的玩法，与高度社交互动性，成为微恐游戏实现市场快速拓展和高度用户 黏性的关键，在中国游戏市场寻求差异化、个性化的发展趋势下，其产品类型和玩法或将得到进一步丰 富和扩展。 21世纪经济报道 实习生涂玥 记者吴立洋 上海报道 8月1日至8月4日，巨人网络（002558）亮相ChinaJoy展会，和公司以往主要展示的《征途》系列、《球 球大作战》、《太空杀》等产品不同的是，本次巨人选择将旗下爆款《超自然行动组》的LOGO与公司 并列，展示在展台的正上方。 巨人网络对《超自然行动组》的重视源自该产品上半年出色的市场表现：6月全平台流水超7000万元， 一度霸占ios游戏免费榜前五位置，最高达到第二。在其带动下，公司股价一路走高，截至8月6日收盘 突破28元/股，总市值542.3亿元，跻身A股游戏板块第二。 《超自然行动组》的成功并非个例。与其一样带有悬疑氛围和轻度惊吓元素、被称为"微恐游戏"的品 类，近年来增长趋势显著。例如网易于2018年上线的《第五人格》，据Sensor Tower数据，其2024年全 球收入涨幅达123%，推动网易本期收入提升28%，位列发行商收入榜亚军。 年轻人涌入 ...

Market Overview - On June 12, the A-share major indices experienced slight fluctuations, with over 2800 stocks declining across the market. The market focus was on sectors such as IP economy, precious metals, innovative pharmaceuticals, and pet economy [1][3]. Stock Performance - Notable stocks included: - Yiming Pharmaceutical achieved a 7-day consecutive rise with a 10.01% increase, closing at 23.73 [4]. - Yuanlong Yatu, benefiting from IP economy and digital collaboration, saw a 10-day rise with a 10.00% increase, closing at 22.66 [4]. - Guangdong Media, combining IP economy and sports concepts, recorded a 4-day rise with a 10.04% increase, closing at 8.88 [4]. Trading Activity - The top three net buying stocks on the daily leaderboard were: - Rongfa Nuclear Power with a net buy of 3.85 billion [5][6]. - Yiming Pharmaceutical with a net buy of 1.47 billion [6]. - Yuanlong Yatu with a net buy of 1.15 billion [6]. - The top three net selling stocks included: - Limin Co. with a net sell of 1.63 billion [7]. - Zhongke Magnetic with a net sell of 1.53 billion [7]. - Qingmu Technology with a net sell of 754.24 million [7]. Sector Highlights - The IP economy sector showed renewed strength, with stocks like Yuanlong Yatu and Guangdong Media performing well due to their innovative collaborations and market positioning [3][4]. - The nuclear power sector, represented by Rongfa Nuclear Power, gained attention following significant investments in nuclear fusion technology, indicating potential growth in this area [14][17]. Institutional Activity - Institutional investors showed interest in stocks like Rongfa Nuclear Power, which saw a net buy of 1.28 billion from deep stock connections [20][22]. - Conversely, Limin Co. faced significant net selling from institutional investors, indicating a shift in sentiment towards this stock [19][23].