游戏赛道大爆发。 8月5日，游戏板块集体大涨，港股心动公司股价盘中一度暴涨超26%，A股北纬科技强势涨停。有分析称，业绩超预期是引爆股价的主要原因，据心动公司最新发 布的业绩预告，其预计上半年净利润同比大幅增长215%。 与此同时，游戏行业也有重磅利好。据《中国游戏产业报告》，2025年1—6月，中国国内游戏市场实际销售收入达1680亿元，同比增长14.08%，创历史新高；同期 游戏用户规模达6.79亿人，同比增长0.72%，亦为历史新高点。另外，持续稳定的版号发放也是游戏行业增长的原因之一。 游戏股大爆发 8月5日，港股游戏股全线爆发，心动公司盘中一度暴涨超26%，截至收盘，涨幅仍达24.76%，年内累计涨幅扩大至186.06%。其他游戏股亦大幅走强，IGG大涨超 9%，中手游涨8%，飞鱼科技涨超6%，创梦天地、中旭未来涨超3%。 A股游戏板块的表现也非常强势，截至收盘，北纬科技录得涨停，ST华通涨超5%，完美世界、巨人网络涨超4%，恺英网络、冰川网络涨超3%。 消息面上，心动公司最新披露的正面盈利预告引爆了市场情绪。公告显示，心动公司预计2025上半年收入不少于30.5亿元，同比增长37%；预计净利润不少 ...

智通财经APP获悉，心动公司(02400)盈喜后高开逾8%，截至发稿，涨8.55%，报61.6港元，成交额 6284.43万港元。 消息面上，心动公司发盈喜，预期2025年上半年取得收入不少于人民币30.5亿元，同比增加约37%；及 预期净利润不少于人民币7.9亿元，同比增加约215%。主要得益于自研游戏《仙境传说M：初心服》、 《心动小镇》及《火炬之光：无限》表现强劲，推动集团的收入增长，进而改善毛利率；尽管APP平均 月活跃用户同比维持大致稳定，但受广告算法的改进及用户参与度提升所带动，TapTap于收入及利润方 面均取得持续增长。中金表示，公司业绩预告好于我们及市场预期。公司游戏利润盘坚实，下半年关注 《伊瑟》9/25 上线、《小镇》海外及26年核心产品《RO2》首测。 ...

Investment Rating - The report maintains a "Positive" outlook on the gaming sector, highlighting a monthly high in game approvals and encouraging summer promotions [4]. Core Insights - The gaming sector is expected to benefit from a significant increase in new game approvals, with 158 new games (147 domestic and 11 imported) approved in June, marking a new monthly high for the year. This trend indicates a clear easing of regulatory constraints [4]. - The mid-term growth drivers include the expansion of overseas markets and the consumption demands of the post-90s and post-00s generations, improved competitive dynamics leading to better-than-expected profit margins, and AI developments enhancing valuation options [4]. - Key companies such as Giant Network, Huya, and others are expected to show strong performance, with new game launches and innovative strategies aimed at attracting younger users [4]. Summary by Sections Gaming Sector - The report emphasizes the ongoing recommendation for the gaming sector, driven by new game approvals and summer promotional activities. The mid-term logic includes overseas expansion and evolving consumer preferences [4]. - Notable companies like Tencent, NetEase, and Giant Network are highlighted for their expected revenue and profit growth, with specific projections for 2025 and 2026 [6]. AI and Internet Media - AI applications in platforms like Kuaishou and Meitu are showing better-than-expected commercialization, with significant user engagement and innovative content offerings [4]. - The report discusses the potential of AI in education and advertising, with companies like New Oriental launching AI educational products and Tencent enhancing ad efficiency through AI [4]. Consumer Trends - The report identifies high-demand consumer segments in collectibles, music, and live events, with companies like Pop Mart and NetEase Music showing strong growth trajectories [4]. - The report also notes the resilience of advertising platforms like Focus Media, which is expected to benefit from partnerships that enhance media value [4].

Investment Rating - The report maintains a positive investment rating for the media and gaming sectors, highlighting the potential for valuation recovery in the gaming segment and recommending leading companies in these industries [1][2]. Core Insights - The media industry has seen a 2.52% increase in the past week, ranking 7th among all sectors, with a year-to-date increase of 7.98%, placing it 5th overall [1][10]. - The report emphasizes that gaming and media are among the best emerging consumer sectors, driven by user engagement and cultural exports, which are expected to gain higher valuations [1]. - The report notes that the overseas cultural export of Chinese media is just beginning, supported by favorable policies, and highlights the potential for higher user numbers and ARPU values in international markets [1]. - The report also points out that AI applications are gaining traction in the overseas market, which may reflect similar trends in the domestic market over time [1]. Summary by Sections Market Performance Review - The media sector index increased by 2.52% from June 2 to June 8, outperforming the Shanghai Composite Index and Shenzhen Component Index [10]. - Notable individual stock performances include Gohua Cable (+16.39%) and Hubei Broadcasting (+15.49%) [12]. Gaming Sector Highlights - The gaming company Xindong has seen significant stock price increases, with its game "Xianjing Chuanqi M" topping the iOS charts shortly after launch [2]. - The company has a strong pipeline of self-developed games, including "Ise" and "Xindong Town," which are expected to contribute to revenue growth [2]. Media and Entertainment Data - The top-grossing films in the week included "Mission: Impossible 8" and "Time's Son," with box office earnings of 154.47 million and 57.87 million respectively [17][18]. - The television drama "Shaohua Ruojin" achieved the highest ratings among provincial satellite channels, with a viewership rating of 2.055% [22]. Book Publishing Insights - The top-selling fictional books in April 2025 included "Nezha: The Three Realms" and "The Ordinary World," indicating strong consumer interest in local literature [33].