◎海外活跃用户约2亿人，覆盖全球200多个国家和地区 ◎实体书传播约5000部，电子书传播近13万部 ◎海外本土作者达130万人，海外本土作品超200万部 翻译传播体系逐步完善，IP全球化稳步推进，海外平台和社群生态日渐活跃……近年来，中国网络文学 国际传播亮点纷呈，正突破单一的内容传播模式，走向共创与开拓世界文化新形态的崭新阶段，逐渐成 为世界级文化现象。 9月26—29日，由中国作家协会、浙江省人民政府、杭州市人民政府共同主办的2025中国国际网络文学 周在浙江杭州举行，数百位嘉宾会聚白马湖畔，围绕"新动力 新格局 新形态——AI赋能下的网文全球图 景"主题展开深度交流。 活动期间，主办方发布了《中国网络文学国际传播报告（2025）》（下称《报告》），并举办网络文学 产业体验馆巡馆、网络文学国际圆桌会、网络文学出海洽谈会、"美丽中国国际写作计划"采风等活动， 搭建中外业界对话沟通平台。 优质内容是基础 近年来，中国网络文学主流化、精品化趋势进一步增强，网络文学的价值正得到多方认可。在国内， 2024年中宣部第十七届精神文明建设"五个一工程"奖，首次把网络文艺单列，并评出10部优秀作品，其 中包括《陶三圆的 ...

Core Viewpoint - The collaboration between China's web novel "Dao Gui Yi Xian" and Universal Studios Singapore marks the first deep partnership between a Chinese web novel IP and a global theme park, showcasing a cross-border integration of "IP + cultural tourism" [1][3]. Group 1: Project Overview - The Halloween-themed attraction "Dao Gui Yi Xian" opened on September 26, featuring immersive experiences that recreate the novel's fantasy world through realistic scenes and interactive NPCs [1][3]. - The project aims to provide visitors with an engaging exploration of iconic locations from the novel, such as "Qing Feng Guan" and "Bai Yu Jing," allowing them to interact with characters from the story [3][5]. Group 2: Cultural Significance - "Dao Gui Yi Xian," created by author "Hu Wei De Bi," integrates traditional Chinese philosophical concepts and folklore with modern fantasy elements, establishing a grand worldview filled with Eastern mystique [3][5]. - The novel has gained significant popularity, accumulating over 11.38 million readers, making it a phenomenon in 2023 [3]. Group 3: Future Prospects - This collaboration represents the first overseas implementation of the "IP Paradise" model by the company, with plans to introduce derivative products from other popular IPs like "Quan Zhi Gao Shou" and "Gui Mi Zhi Zhu" at Universal Studios Singapore [5].

互联网大厂的游戏业务似乎一直都有些命运多舛。 竞核获悉，从今年年初开始，快手游戏上海星河工作室就开始陆续裁员，项目和相关人员整体向杭州转移，其他项目的研发资源几乎完全收紧，全力押注 《诡秘之主》的改编游戏。 裁员的导火索是快手游戏自研的两款产品《无尽梦回》（内部代号C1）、《超时空跑跑》（内部代号C5）去年上线后表现不及预期。同时从今年开始， 快手游戏业务需要自负盈亏，所以逐步收紧开支、集中资源搞重点项目。 竞核查询快手弹指宇宙官网和各大招聘软件发现，弹指宇宙上海的多个招聘岗位已经下线，仅保留了1-2个岗位在招。 前些天《归龙潮》停服引起了不小的关注，而在玩家社区中"下一个停服的游戏是谁"的讨论度一时间也居高不下，其中《无尽梦回》的名字也被玩家们提 及多次。 实际上，《无尽梦回》的B站官方账号自今年6月开始已经停止更新，游戏自4月后也未再更新版本，基本已经进入了半停服状态；另一款产品《超时空跑 跑》的情况也类似，7月后官方账号并未再更新新动态。 《无尽梦回》是弹指宇宙厂牌成立后的一款自研游戏，竞核了解到，《无尽梦回》制作人正是弹指宇宙长三角游戏事业部负责人陈彦江，内部在上线阶段 也给这款产品配备了千万级的发行 ...

Core Viewpoint - The article highlights the strong performance of Yuewen Group, with significant revenue and profit growth in the first half of the year, driven by various business segments and strategic collaborations [1] Financial Performance - Yuewen Group reported a revenue of 3.191 billion yuan and a net profit attributable to shareholders of 850 million yuan, representing a year-on-year increase of 68.5% [1] - The company's stock rose by 5.82% to 41.8 HKD, with a trading volume of 488 million HKD [1] Business Segments - The growth in revenue was primarily attributed to the increase in licensing business, stable performance in short dramas, and progress in IP commercialization [1] - The company launched a strategic cooperation plan with "Honor of Kings," marking the first collaboration to synchronize the release of related content and skins [1] Industry Trends - Tianfeng Securities noted that Yuewen has produced high-quality content in the film and television sector, with several IP adaptations achieving top viewership on platforms [1] - The short drama segment saw a significant increase in hit rates, with individual projects generating over 80 million yuan in revenue and total views exceeding 3 billion [1] Long-term Outlook - The company is expected to maintain its ability to create commercial hits and successfully implement a business model that leverages its IP ecosystem [1] - Yuewen's strong content ecosystem, rich IP reserves, and diversified business expansion capabilities are anticipated to build competitive barriers and steadily enhance profitability [1]

Group 1 - The core viewpoint of the report is that Shenwan Hongyuan maintains a "buy" rating for Yuewen Group (00772) due to positive progress in the company's IP business, with adjusted net profit forecasts for 2025 to 2027 raised to RMB 1.376 billion, 1.495 billion, and 1.702 billion respectively, compared to previous estimates of RMB 1.28 billion, 1.416 billion, and 1.556 billion [1] - In the short term, Yuewen's IP projects are becoming more abundant, including the launch of the authorized game "Douluo Dalu: Hunting Soul World" by 37 Interactive Entertainment on July 10, and the upcoming Tencent project "Yiren Zhixia," which has already obtained a license [1] - The company has established a national creative content strategic cooperation plan with "Honor of Kings" on August 14, and has launched a collaboration skin with "The Secret of the Master," with related merchandise available for sale [1] Group 2 - According to the company's financial report, Yuewen's online business revenue for the first half of this year was RMB 1.99 billion, representing a year-on-year growth of 2% [2] - The revenue from self-owned products and Tencent channel paid subscriptions grew by 3%, with a Monthly Paying Users (MPU) count of 9.2 million, reflecting a year-on-year increase of 4.5%, while the gross profit margin remained stable at 50% [2] - The long-term focus for the company includes IP commercialization and the expansion of online literature overseas [2]

Core Viewpoint - Shenwan Hongyuan maintains a "Buy" rating for Yuewen Group (00772), citing positive progress in the company's IP business and raising the adjusted net profit forecast for 2025 to 2027 to RMB 1.376 billion, 1.495 billion, and 1.702 billion respectively, up from previous estimates of RMB 1.28 billion, 1.416 billion, and 1.556 billion [1] Group 1: IP Business Developments - The second half of the year will see a richer lineup of IP projects for Yuewen, including the launch of the authorized game "Douluo Dalu: Hunter World" by 37 Interactive Entertainment on July 10 [1] - A strategic cooperation plan with "Honor of Kings" was established on August 14, featuring collaborations with more IP characters and the launch of exclusive skins for "The Secret of the Mysterious Master" [1] - New projects from New Classics Media are set to be released, and the adaptation of the IP "凡人修仙传" into animation and live-action series has gained significant popularity during the summer, effectively expanding the IP's influence [1] Group 2: Financial Performance - Yuewen's online business revenue for the first half of the year reached RMB 1.99 billion, reflecting a year-on-year growth of 2% [2] - Revenue from self-owned products and Tencent channel paid subscriptions grew by 3%, with a Monthly Paying Users (MPU) count of 9.2 million, an increase of 4.5% year-on-year [2] - The gross profit margin remained stable at 50% year-on-year, indicating consistent profitability [2]

Group 1 - The core stock price of the company,阅文集团, surged over 21%, reaching HKD 45.48, marking a new high since March 2023 [1] - The company has entered into a "National Creation Content Strategic Cooperation Plan" with Tencent's flagship game, "Honor of Kings," to explore collaboration opportunities in the national creation content sector [3] - The company’s platform will also feature a bestselling fantasy novel, "The Lord of the Mysterious," which will collaborate with "Honor of Kings" to launch exclusive game skins related to the novel [4]

Group 1 - The core viewpoint of the news is the strategic collaboration between Yuewen Group and "Honor of Kings" to launch a "National Creation Content Strategic Cooperation Plan," featuring the integration of the IP "The Master of Mysteries" with new skins and merchandise [1] - The collaboration marks the first time that merchandise and skins are launched simultaneously, showcasing a strong synergy between the two world-class IPs [1] - The merchandise includes a variety of products such as tin badges, laser tickets, acrylic color paper, acrylic stands, and magnetic metal badges, representing the most diverse and abundant range of products launched alongside a new skin in "Honor of Kings" [1] Group 2 - Yuewen Group reported a net profit of 850 million yuan for the first half of 2025, reflecting a year-on-year growth of 68.5% [2] - The IP derivative business of Yuewen demonstrated strong growth momentum, with a GMV of 480 million yuan in the first half of the year, nearing last year's total [2] - The company plans to continue deepening its presence in the derivative product sector, aiming to capture a larger market share in the billion-level market [2]

Core Insights - The collaboration between Yuewen Group and "Honor of Kings" marks the launch of the "National Creation Content Strategic Cooperation Plan," featuring the simultaneous release of content related to "The Lord of the Mysterious" [1] - The partnership includes new skins, merchandise, and secondary creation activities, with the author of "The Lord of the Mysterious" releasing a new novel chapter [1] Financial Performance - Yuewen Group reported a net profit of 850 million yuan for the first half of 2025, representing a year-on-year increase of 68.5% [1] - The gross merchandise value (GMV) of IP derivative products reached 480 million yuan, nearing the total for the previous year [1] - The speed of new product launches from Yuewen's merchandise division has increased to 3-4 times that of the previous year [1] Strategic Development - Yuewen's CEO, Hou Xiaonan, indicated that the company will consider introducing high-quality third-party IPs for derivative product development in addition to its own IPs [1] - The company has established a comprehensive channel network covering nearly all categories of derivative products and is continuously enhancing its capabilities in product design, user operations, licensing cooperation, and external investments [1]

Group 1 - The core viewpoint of the news is the strategic collaboration between Reading Group and "Honor of Kings" to launch a national creative content cooperation plan, featuring the integration of the IP "The Master of Mystery" with new skins and merchandise [1] - The collaboration marks the first time that both the peripheral products and skins are launched simultaneously, showcasing a significant depth of cooperation between the two major IPs [1] - The merchandise for "The Master of Mystery" includes various items such as tin badges, laser tickets, acrylic color paper, acrylic standees, and magnetic metal badges, representing the most diverse and abundant range of peripheral products launched alongside a new skin for "Honor of Kings" [1] Group 2 - Reading Group's ability to commercialize its products continues to strengthen, with a reported net profit of 850 million yuan for the first half of 2025, reflecting a year-on-year growth of 68.5% [3] - The IP derivative product business of Reading Group has shown strong growth momentum, with a GMV of 480 million yuan in the first half of the year, nearing the total for the previous year [3] - The CEO of Reading Group indicated plans to consider introducing high-quality third-party IPs for derivative product development, aiming to capture a larger market share in the billion-yuan market [3]