Core Insights - The gaming industry in China is experiencing a significant increase in game license approvals, with 134 licenses issued in July, including 127 domestic and 7 imported games. The total number of licenses issued from January to July reached 946, marking a 19% year-on-year growth [1] Industry Developments - Multiple supportive policies from central and local governments are being implemented to foster the long-term development of the gaming industry [1] - Major traditional gaming companies like Tencent, NetEase, and miHoYo have not released any blockbuster titles this year, creating a user gap that provides an opportunity for mid-sized companies to launch new products [1] - Non-headline gaming companies are beginning to benefit from new product cycles, showing a clear trend of performance recovery [1] Market Dynamics - Recent adjustments in the gaming sector are primarily driven by structural market changes rather than fundamental factors. If capital shifts from high to low valuations, the adjusted gaming sector may demonstrate higher cost-effectiveness in terms of valuation and growth potential [1] - The gaming ETF (516010) tracks the anime and gaming index, selecting listed companies in the A-share market related to the anime, gaming, and associated industries, serving as an important indicator of the development of China's anime and gaming industry [1]

Group 1 - The core viewpoint of the articles highlights the structural growth opportunities in the media industry driven by policy support and technological advancements, particularly in gaming product cycles, AI multimodal applications, and short dramas going overseas [1] - Huatai Securities reports that the number of game approvals reached a recent high in June, with 158 games approved, including 147 domestic online games and 11 imported games, indicating ongoing regulatory support for the healthy development of the industry [1] - The stability of policies enhances the predictability of domestic manufacturers' R&D and distribution plans, promoting a shift of resources towards high-quality and long-term development [1] Group 2 - The gaming industry is experiencing policy incentives that boost domestic demand, while technological empowerment strengthens product competitiveness, creating significant growth potential in overseas markets [1] - The game ETF tracks the animation and gaming index, which is compiled by China Securities Index Co., and reflects the overall performance of listed companies in the animation and gaming industry [1] - The index serves as an important indicator for measuring the development of China's animation and gaming industry, characterized by distinct industry features and style configurations [1]