近日，IPO早知道发布2025年度IPO最佳投资机构TOP100、2025年度最佳投资机构以及2025年度最佳 IPO服务机构等多个重磅榜单。凭借在文娱科技投资领域的前瞻性布局以及精准投资实践，三七互娱成 功入选2025年度最佳CVC投资机构。 从具体投资版图来看，2025年三七互娱投资落子多家优质创新公司，紧密锚定国家"十五五"规划的战略 导向。如：AI芯片及系统架构研发商昉擎科技、先进大芯片光刻机、AI芯片键合机等高端装备研发生 产商星空科技、光电晶体薄膜材料研发商晶正电子、全球领先的脑机接口技术公司强脑科技、专注于化 学小分子诱导多能干细胞（CiPSC）技术研发的创新药企北启生物、仿真合成数据领域龙头企业光轮智 能、具身大脑公司星源智等多家优质企业。此外，三七互娱还通过投资帝奥微湖杉（嘉兴）股权投资合 伙企业（有限合伙），实现对AI产业链上下游优质企业的全景式布局。 其中，三七互娱投资标的北启生物的科学创始人、北京大学邓宏魁教授于2025年新当选中国科学院院 士。这是继量子计算企业华翊量子（创始人、清华大学段路明教授此前当选院士）后，公司投资版图中 再度涌现"院士级"核心创始人，充分彰显其在优质科技项目 ...

近日，中国互联网企业综合实力发布会在北京隆重召开。作为国内数字文娱产业的代表，三七互娱凭借稳健 的综合发展实力再度跻身《中国互联网企业综合实力指数（2025）》百强榜单，排名不仅创下了新高，还位 居A股游戏企业之首。此外，会上公司技术中心数据副总裁王传鹏带来AI主题分享，深度解析人工智能如何 共创互联网行业的新生态。 据悉，本次发布会重磅发布的《中国互联网企业综合实力指数（2025）》，从企业规模、盈利能力、创新能 力、社会责任等多维度对国内互联网企业进行综合评估，是衡量行业发展水平的权威参考。 在社会责任践行领域，三七互娱通过"游戏+非遗""游戏+文旅"等创新模式传承中华优秀传统文化，同时积极 投身公益事业，以科技与文化的融合助力社会发展。此外，三七互娱还携旗下妙小程走进贵州，开展中小学 教师人工智能教学应用实践专项培训，为当地的教师们带来了专业、系统的AI培训课程，支持乡村教育提质 增效，推动教育公平。 榜单显示，三七互娱以卓越的综合表现位列第17名，创下自上榜以来的历史最高排名，这也是三七互娱连续 13年跻身中国互联网综合实力前百家企业，彰显了公司在互联网领域的稳固地位与强劲发展韧性。 展望未来，此次" ...

Core Viewpoint - The 2025 Guangzhou Cultural Industry Trade Fair showcased over 1000 enterprises, promoting resource collaboration and high-quality development in the cultural and tourism sectors, with 37 Interactive Entertainment being a notable participant [1][10]. Group 1: Event Overview - The Guangzhou Cultural Industry Trade Fair was held in Pazhou, organized by the Guangzhou Municipal Government, highlighting cultural and tourism innovations from the Guangdong-Hong Kong-Macao Greater Bay Area and nationwide [1]. - 37 Interactive Entertainment was invited to showcase its "Cultural + Technology" integration and was recognized as one of the "Top 30 Cultural Enterprises in Guangzhou" [1][10]. Group 2: Strategic Partnerships - 37 Interactive Entertainment signed a strategic cooperation agreement with Guangzhou Cultural Group to enhance cultural IP co-creation and resource integration, aiming to drive industry development [3]. Group 3: Innovations and Achievements - The company presented its "Cultural + Tourism" and new productivity innovations, emphasizing a dual showcase of "Cultural Empowerment + Technological Breakthrough" [5]. - Key innovations included a special version of the game "Call Me the Boss" for the National Games, an AI-powered city service platform, and a game based on the "Understanding Guangzhou" cultural IP, promoting public engagement and cultural transformation [5][6]. Group 4: AI and Risk Management - The company introduced its AI model "Xiao Qi" and the "Ling Cha Cha" intelligent risk prevention system, which enhances copyright protection and brand content insights through advanced data analysis [6][8]. - "Ling Cha Cha" focuses on proactive copyright management, improving efficiency in identifying infringement and supporting reputation management for enterprises [8]. Group 5: Recognition and Future Outlook - 37 Interactive Entertainment has been recognized as one of the "Top 30 Cultural Enterprises in Guangzhou" for five consecutive years, reflecting its commitment to quality and innovation in the cultural and technological sectors [10][12]. - The company aims to continue its role as a "city partner," deepening the integration of technology and culture, and contributing to the high-quality development of cultural tourism in the Greater Bay Area [12].

继参投Lighthouse Founders'Fund L.P.之后，三七互娱在18日发布公布称，其全资子公司安徽泰运投资管理有限公 司计划以自有资金出资不超过5000万元，参与投资帝奥微湖杉（嘉兴）股权投资合伙企业（有限合伙）（简称"帝 奥微湖杉基金"），借此深入布局人工智能产业链。 临近年底，三七互娱在资本市场动作频频。 Lighthouse Founders'Fund L.P.的实际总规模预计不超过8000万美元，公司的子公司计划以自有资金出资不超过200 万美元，若最终募集规模为8000万美元，则公司的投资金额约占基金规模的2.5%。 根据公告，Lighthouse Founders'Fund L.P.的普通合伙人Lighthouse Founders'Fund GP Ltd.专注于研究AI+产业应用、 AI+C端应用、AI+具身智能、AI+硬件、AI+未来科技及其他相关领域的投资与交易机会，拥有AI及其他相关泛科 技领域的投资经验。 公告披露，帝奥微湖杉基金由苏州湖杉投资中心（有限合伙）发起设立，上海湖杉投资管理有限公司担任基金管 理人，目标认缴总规模3亿元至4亿元，最终以实际募集情况为准。基金将聚 ...

Core Insights - The "Jiangsu Game Industry High-Quality Development Conference" was successfully held in Changzhou, Jiangsu, focusing on the theme of "New Trends and New Opportunities - Integration and Innovation Driving Industry Transformation" [1] - The conference gathered leaders from the Ministry of Propaganda and representatives from major digital cultural enterprises to discuss industry consensus, capture development opportunities, and promote project cooperation [1] Company Developments - Sanqi Interactive Entertainment collaborated with the Nanjing Health Commission to launch the first domestic game for assisting children with autism, "Star Life Paradise," which showed a 42% average improvement in attention span for children using it for over three months [3] - The company’s Vice President, Cheng Lin, delivered a keynote speech on "AI Empowerment: The Innovative Integration Journey of Sanqi Interactive Entertainment's Cultural Products," highlighting the innovative paths for high-quality industry development [3] AI Integration - Sanqi Interactive Entertainment introduced its self-developed game industry model "Xiao Qi," which covers the entire game business chain, enhancing efficiency in market analysis, product development, advertising, and customer service [5] - The use of AI technology in creative processes was demonstrated through multimodal image generation and one-click video creation, showcasing the potential of technology to enhance creative quality and efficiency [5] Cultural Integration - The company is actively involved in cultural integration by leveraging technology, culture, and sports, particularly as a "super partner" in Guangzhou, focusing on digital promotion and smart services [6] - Sanqi Interactive Entertainment produced a promotional video for the National Games, integrating sports passion and local culture, and launched a special version of "Call Me Big Boss" featuring the National Games [6] Future Directions - The deep collaboration between gaming and AI is seen as a core driver for future innovations, with Sanqi Interactive Entertainment planning to further develop its "Xiao Qi" model to expand the value boundaries of cultural products [6]

截至2025年11月，今年游戏版号发放量已达1624个，超去年总量，其中11月单月发放184个版号创下新 高。游戏行业在稳定政策预期下供给充足，市场销售收入同步增长，展现出强劲复苏势头。在精品化、 全球化与智能化融合推进的背景下，游戏行业迎来了从"规模扩张"向"质量提升"的关键转型期。 政策引领提振信心 游戏版号发放重回稳定轨道，为行业注入强心剂。 与以往不同，今年以来一个明显的变化是——中国游戏市场已进入全面多元化时期，多种游戏类型、各 大游戏平台、国内外市场全面发力。 平台多元化也日益明显。微信、抖音、快手等平台的小游戏迅速崛起，2025年1-6月，国内小程序游戏 市场实际销售收入232.76亿元，同比增长40.2%。小游戏凭借低门槛和社交属性，成功拓展了游戏用户 边界。 截至11月，2025年累计发放版号已达1624个，超过了去年全年总量。特别是11月份单月发放了184个版 号，再次刷新单月新高，显示出审批常态化趋势审批节奏的稳定与可预期，极大促进了优质新游戏的开 发和上线。版号常态化发放标志着行业步入更加成熟的发展阶段。随着政策的引领，游戏公司也更专注 于业务创新与可持续发展，游戏产业正呈现精品化趋势 ...

Core Insights - AI workflows are a key focus for many companies, aiming to optimize management, production, and communication processes to reduce costs and achieve significant advancements over traditional enterprises [1] - Companies are still exploring how to effectively implement AI, often approaching it with caution due to the high costs involved in project management and the skepticism surrounding AI's reliability [1] - Despite the hesitance, AI offers clear benefits, such as assisting in meetings, optimizing presentations, and generating low-cost content, which can lead to substantial cost savings and competitive advantages [1] Company-Specific Insights - 37 Interactive Entertainment is at the forefront of AI application in the gaming industry, having invested in AI since 2018 and developing their proprietary AI model "Xiao Qi" for various business functions [4][11] - The AI capabilities of "Xiao Qi" include efficient meeting minutes generation, AI customer service with an accuracy rate of 80%, and AI translation for over 85% of their overseas games with a 95% accuracy rate [6][4] - The company has built a comprehensive AI workflow that integrates AI into various business areas, enhancing productivity and allowing creative teams to focus on design rather than repetitive tasks [11][8] Industry Trends - The current trend indicates that AI serves more as an assistant to creators rather than a replacement, enhancing productivity in creative processes, such as generating over 500,000 2D images in a quarter with an 80% efficiency increase [8][7] - The application of AI is evolving through three stages: awareness and basic usage, integration as a supportive tool, and the development of AI-driven products, with 37 Interactive Entertainment currently in the second stage [13][15] - The industry recognizes that while AI can significantly alter production modes, human oversight remains essential, as creators must make informed choices based on AI-generated outputs [17][19]

Core Insights - The majority of A-share gaming companies have reported growth in their performance for the first three quarters, primarily driven by successful game titles, while long-term product development is also crucial [1] - The integration of AI technologies has become a consensus among gaming companies, with many initiating AI-related projects and competitions to enhance their capabilities [1][2] Group 1: Company Initiatives - Century Huatong hosted the "Dragon Cup" AI competition, which concluded in August, leading to investments in winning teams and enhancing the company's resource pool [1] - Century Huatong is incorporating AI tool applications into key performance indicators (KPIs) and focusing on recruiting AI-related talent across its subsidiaries [1] - Shengqu Games is exploring the innovative integration of AI with gameplay and enhancing AI-driven operational risk management [1] Group 2: AI Development and Investments - 37 Interactive Entertainment has developed over 40 AI capabilities around its proprietary model "Xiao Qi," creating a comprehensive AI platform that supports various business functions [2] - The "Xiao Qi" model has been registered with the National Internet Information Office, making it one of the first gaming-specific large models in Guangdong Province [2] - Giant Network is also advancing in AI, having collaborated with Tsinghua University's SATLab to create an open-source multi-dialect speech synthesis model [2] - Giant Network confirmed participation in a $60 million Series B funding round for AI video generation leader Aishi Technology, further expanding its AI portfolio [2] Group 3: Market Trends - The gaming sector is experiencing multiple catalysts for transformation, including AI, content innovation, and changes in commercialization models [2] - The gaming ETF (159869) tracks the performance of A-share listed companies in the animation and gaming industry, presenting investment opportunities [2]

Core Insights - The company reported a revenue of 12.461 billion yuan and a net profit of 2.345 billion yuan for the first nine months of 2025, marking a year-on-year growth of 23.57% [2] - In Q3 2025, the company achieved a revenue of 3.975 billion yuan and a net profit of 944 million yuan, reflecting a significant year-on-year increase of 49.24% [2] Financial Performance - For the first nine months of 2025, the company’s revenue reached 12.461 billion yuan, with a net profit of 2.345 billion yuan, indicating a 23.57% increase compared to the previous year [2] - In Q3 2025, the company’s revenue was 3.975 billion yuan, and the net profit was 944 million yuan, showing a robust growth of 49.24% year-on-year [2] Shareholder Returns - The company plans to distribute a cash dividend of 2.10 yuan per 10 shares (including tax) to all shareholders in Q3, amounting to an estimated total of 462 million yuan [2] - The total dividend for the year, including two previous quarterly distributions, will reach 1.386 billion yuan, representing approximately 59% of the net profit attributable to shareholders, significantly higher than the industry average [2][3] Product Development and Strategy - The company is focusing on long-term operations and scientific marketing strategies for existing products, optimizing resource allocation to enhance operational efficiency [2] - New game launches such as "Time Explosion," "Heroes Without Flash," and "Douluo Continent: Soul Hunting World" have performed well, contributing significantly to revenue growth [2] - The company is developing a diverse product matrix with over 20 high-quality games across various genres, including MMORPG, SLG, and card games, utilizing both self-developed and agency models [2] AI and Technology Investments - The company is integrating AI technology into game development and operations, with the proprietary industry model "Xiao Qi" offering over 40 AI capabilities across various business areas [3] - The company has invested in hard technology sectors, including computing power, optical display, XR hardware, and AI applications, aiming to build a complete industry chain from computing infrastructure to AI applications [3] Recent Investments - The company has completed a $20 million investment in Qiangnao Technology, which holds a leading position in the global brain-computer interface industry, showcasing its commitment to advancing technology [4]

Core Insights - The article discusses the recent investment by 37 Interactive Entertainment in Shanghai Zhitui Shidai Technology Co., a service provider for AI search ecosystem optimization, highlighting the growth potential of the GEO sector and the strategic importance of this investment in intelligent marketing [1][4]. Company Overview - Zhitui Shidai, founded in 2025, focuses on providing GEO solutions centered around AI visibility enhancement and content optimization for leading global brands across various sectors including education, gaming, health, retail, enterprise services, and finance [3]. - The company has developed China's first open-source GEO service system, the GENO system, which includes four engines: Star Hub (monitoring and early warning), Star Map (user analysis), Star Core (content generation), and Star Dome (knowledge graph), covering the entire intelligent marketing chain [3][5]. Market Trends - The article notes a significant shift in search behavior from traditional keyword searches to a new model of "zero-click direct answers," with a forecasted 25% decline in search engine traffic by 2026, as per Gartner [4]. - The GEO market in China is projected to exceed 20 billion yuan by 2025, with a compound annual growth rate of 67%, indicating that over 78% of enterprises have integrated GEO into their core strategies for brand growth and intelligent marketing [4]. Competitive Advantage - Zhitui Shidai has established a competitive barrier through a systematic product approach, offering a full-service capability via its SaaS platform and four engine product matrix, which optimizes service efficiency, accuracy, and cost control [5]. - The company's solutions have demonstrated significant results, such as a 70% increase in recruitment conversion rates for a top university and a reduction in customer acquisition costs from 300 yuan to 70 yuan for a well-known training institution [8]. Strategic Investment - 37 Interactive Entertainment's investment in Zhitui Shidai reflects confidence in the future of the GEO sector and recognition of the company's unique systematic product capabilities and global vision [8]. - The company aims to leverage AI and big data technologies to explore opportunities in the industry, focusing on the integration of AI-driven marketing innovations and enhancing its competitive edge in the AI search era [9].