Investment Rating - The report maintains a "Buy" rating for the company [6] Core Insights - The company reported a significant increase in revenue and profitability for the first three quarters of 2025, achieving a total revenue of 5.417 billion yuan, a year-on-year growth of 33% [1] - The gaming segment showed strong performance, with revenue reaching 4.475 billion yuan, up 15.64% year-on-year, driven by the successful launch of new titles such as "Zhu Xian 2" and "Zhu Xian World" [2] - The company's esports and film businesses also experienced substantial growth, with esports revenue increasing and film revenue soaring by 432.9% to 918 million yuan due to multiple successful releases [4] Financial Overview - For 2025, the company is projected to achieve a net profit of 855 million yuan, representing a year-on-year increase of 166.4%, with further growth expected in subsequent years [5] - The earnings per share (EPS) is forecasted to improve from -0.66 yuan in 2024 to 0.44 yuan in 2025, indicating a recovery in profitability [5] - The company's total revenue is expected to grow from 5.57 billion yuan in 2024 to 7.743 billion yuan in 2025, reflecting a growth rate of 39% [5] Business Performance - The successful launch of "Zhu Xian 2" topped the iOS free game charts on its first day, reinforcing the company's competitive position in the MMORPG segment [2] - The original RPG game "Yihuan" also received positive feedback during its overseas testing, indicating strong international interest and potential for future growth [3] - The company is actively expanding its product offerings and enhancing its operational strategies across multiple gaming genres [2][3]

分业务看，游戏业务实现营业收入29.06亿元，较上年同期上升9.67%；归母净利润5.04亿元，扣非后净 利润3.46亿元，较上年同期扭亏为盈。影视业务实现营业收入7.67亿元，同比上升756.35%；实现归母 净利润约4172万元，扣非后净利润约2293万元。 中证报中证网讯（记者 杨梓岩）8月26日，完美世界（002624）发布2025年半年度报告。今年上半年， 完美世界实现营业收入36.91亿元，同比增长33.74%；实现净利润5.03亿元，实现扣非后净利润3.18亿 元，均较上年同期扭亏为盈，分别同比增长384.52%与235.12%。上半年公司实现非经常性损益1.85亿 元，主要系第一季度出售乘风工作室产生的处置收益等。 具体来看，今年上半年，完美世界实现扭亏为盈主要因素包括，公司自研的新国风仙侠MMORPG端游 《诛仙世界》于去年底上线，今年上半年带来业绩增量。在电竞业务方面，作为电竞产品《DOTA2 （刀塔）》及《CS（反恐精英：全球攻势）》的中国大陆独家运营商，完美世界通过赛事及产品精细 化运营，使得上半年电竞业务流水同比增长。此外，完美世界表示，公司完善管理及业务流程，推出一 系列降本增效举 ...