Group 1: Market Overview - The report highlights the recent performance of the Shanghai Composite Index and the ChiNext Index, showing a significant decline over the past year, with the Shanghai Composite down by 32% and the ChiNext down by 16% [1][2] Group 2: Industry Insights - The report discusses the strong performance of the power equipment and non-bank financial sectors, with power equipment showing a rise of 4.79% and non-bank financials increasing by 2.08% in the latest trading session [1] - Conversely, the banking sector experienced a decline of 1.98%, indicating a challenging environment for traditional financial institutions [2] Group 3: Investment Strategies - The report emphasizes a dual-driven strategy focusing on technology and PPI trading, suggesting that AI and self-controlled technology will lead the market, supported by stable dividends and sectors like gold and military [6] - The recommended industry sectors for November include social services, non-bank financials, and public utilities, indicating a diversified approach to investment [7] Group 4: Company-Specific Updates - Celestica reported a strong Q3 performance with revenues of $3.19 billion, a 28% year-over-year increase, and raised its full-year revenue guidance to $12.2 billion, reflecting confidence in the AI infrastructure market [20] - Tesla plans to launch its Optimus V3 robot by Q1 2026, with a production capacity of 1 million units per year, showcasing advancements in robotics and AI [29][30] - The report notes that the food and beverage sector, particularly companies like Hai Tian Wei Ye, has shown steady revenue growth of 2.5% and profit growth of 3.4% in Q3 2025, highlighting resilience in challenging market conditions [51]

开源证券研报指出，吉比特新游业绩持续释放，高增长有望延续，维持"买入"评级。2025Q1-3归母净利 润12.14亿元，同比+84.66%，利润接近预告区间上限。单Q3公司实现归母净利润5.69亿元，同比 +307.70%，环比+57.58%，业绩高增主要系《杖剑传说（大陆/境外版）》《道友来挖宝》等新游贡献 增量。《杖剑传说》持续更新优质内容，7月联动《为美好的世界献上祝福！》，带动内地iOS畅销榜 排名升至第13，9月坎斯汀音乐节拉动内地iOS畅销榜排名升至第20，Q3国内流水7.42亿元，环比 +75%。《杖剑传说》海外表现亮眼，7/8/9月分列SensorTower出海手游收入榜第28/18/23，Q3海外流水 4.78亿元。1月新游《问剑长生》前三季度流水达7.13亿元，其预计2025Q4在中国港澳台、韩国等地区 上线。三国题材赛季制SLG游戏《九牧之野》已取得版号，持续调优测试并择机上线。新游海外发行、 储备游戏上线或驱动业绩延续高增。 ...

投资评级：买入（维持） | 日期 | 2025/10/28 | | --- | --- | | 当前股价(元) | 458.14 | | 一年最高最低(元) | 668.00/191.43 | | 总市值(亿元) | 330.05 | | 流通市值(亿元) | 330.05 | | 总股本(亿股) | 0.72 | | 流通股本(亿股) | 0.72 | | 近 3 个月换手率(%) | 169.21 | 吉比特（603444.SH） 2025 年 10 月 29 日 股价走势图 数据来源：聚源 -80% 0% 80% 160% 240% 2024-10 2025-02 2025-06 吉比特 沪深300 相关研究报告 《Q2 业绩高增，高分红延续，新游及 出海驱动成长 —公司信息更新报告》 -2025.8.20 《新游驱动 2025Q1 业绩改善，关注后 续新产品周期 —公司信息更新报告》 -2025.4.24 《2024Q4 业绩环比改善，新游戏或驱 动业绩重回增长 —公司信息更新报 告》-2025.3.28 出海及新游或持续驱动业绩高增长 ——公司信息更新报告 方光照（分析师） fangguangzha ...