掌趣科技（300315.SZ）12月25日在投资者互动平台表示，公司以游戏产品的研发、发行为主，同时在 AIGC领域也在持续探索、积极创新。在境内市场，公司积极布局小游戏赛道，未来将努力实现更多小 游戏产品逐步上线；在境外市场，公司聚焦SLG赛道，积极推进项目的研发和调测调优进度，努力加快 推进上线及大规模投放进程。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：你好董秘，公司未来1-2年的核心增长点是什么？是新 游戏还是海外市场？管理层是否展现出清晰的战略和执行力？ ...

新华财经北京12月25日电四大证券报内容精华摘要如下： 中国证券报 ·券商压力测试工作迎深化要求风险管理迈向提质增效新阶段 记者日前从业内获悉，中国证券业协会近日向各家券商下发通知，其在肯定2025年度行业压力测试取得 积极成效的同时，也明确指出当前仍存在"重形式、轻应用"、复杂业务风险覆盖不足等问题，并就持续 提升压力测试工作质效提出进一步工作指引，涵盖了进一步强化压力测试管理应用、优化场外衍生品压 力测试方案、完善声誉风险压力测试传导机制、强化子公司压力测试工作管理、提升压力测试的有效性 和准确性等五个维度。业内人士表示，这反映出行业压力测试的监管导向正从早期的"有无"检查转 向"优劣"评估，标志着券商风险管理迈入更高层次、更重实效的新阶段。 ·一半是海水一半是火焰私募主题投资思路生变 12月24日，由中证商品指数公司编制的中证（CCI-IC）智能算力供算量指数系列在2025算力互联网大会 上正式发布。该指数系列包括总指数1条、区域系列指数7条和国家算力枢纽节点系列指数8条，共计16 条指数。中证商品指数公司严格遵循客观性和连续性原则开展指数编制工作，每期样本范围保持一致， 保证不同时期指数点位的可比性。 ...

证券时报记者 吴志 在国内游戏产业收入规模再创新高之际，小程序游戏成为不可忽视的增量来源。 根据中国音数协游戏工委近日发布的《2025年中国游戏产业报告》，2025年，国内游戏市场实际销售收入3507.89 亿元，同比增长7.68%；用户规模6.83亿，同比增长1.35%。两项数据均创历史新高。 游戏收入及用户规模同步增长，动力主要来自三方面。一是移动游戏品质提升，新品市场表现出色；二是多款头 部常青游戏创新玩法、优化运营；三是小程序游戏（以下简称"小游戏"）的强劲增长。 2025年，我国小游戏市场收入达到535.35亿元，同比大幅增长34.39%。小游戏在游戏市场整体收入中所占的比例 升至15%。如果与2024年的数据对比就会发现，小游戏是2025年游戏市场重要的"增量"来源。 2024年，国内游戏市场实际销售收入为3257.83亿元，同比增长7.53%，再创新高。2025年整体收入较2024年高出 约250亿元。而2024年国内小游戏市场收入398.36亿元，同比增长99.18%，2025年小游戏市场收入较2024年高出约 137亿元。这意味着2025年，小游戏贡献了市场重要的增量来源。 小游戏依托于小程 ...

Group 1 - The core viewpoint of the article is that the official launch of the Hainan Free Trade Port on December 18 marks a significant step towards expanding high-level openness in China, serving as a model for future economic reforms [1][29]. - Hainan Island, with its unique geographical advantages, is positioned as a crucial gateway for trade between East Asia, Southeast Asia, and South Asia, enhancing its role in China's broader economic strategy [3][29]. - The central government has clearly defined that Hainan's development will not focus on transshipment trade and manufacturing but will prioritize tourism, modern services, and high-tech industries, emphasizing comprehensive human development and innovation [5][29]. Group 2 - The construction of the Hainan Free Trade Port is structured in three phases, with the first phase aiming to establish a policy system focused on trade and investment facilitation by 2025 [6][29]. - The concept of "institutional openness" is highlighted, indicating a shift from traditional trade facilitation to aligning domestic regulations with international standards, which is crucial for Hainan's development [9][18]. - The "one line open, two lines manage" approach post-closure allows for greater freedom in international trade while maintaining control over domestic markets, ensuring a balance between openness and regulation [11][13][16]. Group 3 - Hainan is actively aligning with high-standard international trade rules, which include higher commitment levels, broader coverage of sectors, and stricter enforcement, enhancing its global trade competitiveness [18][20]. - The "zero tariff" policy, which significantly expands the range of duty-free imports from 1,900 to 6,600 items, aims to reduce operational costs for businesses and encourage high-value-added processing industries [25][29]. - Hainan's tax incentives for high-demand talent, including a capped personal income tax rate of 15% and visa-free entry for citizens from 86 countries, are designed to attract skilled professionals and foster a competitive environment [27][29].

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 ...

Group 1 - The core viewpoint of the article highlights the collaboration between Apple and Tencent to enhance the ecosystem of mini-programs and mini-games on the iOS platform, with a focus on improving user experience and developer support [1][3][4]. Group 2 - On November 14, Apple launched the "Mini-Program Partner Program," aimed at helping developers expand their business and improve sales on the App Store, offering a 15% revenue share reduction for qualifying in-app purchases [3]. - A significant agreement was reached between Apple and Tencent regarding a 15% commission for WeChat mini-game payments, indicating a positive ongoing relationship between the two companies [4].

Core Insights - Tencent and Apple have reached an agreement allowing Apple to handle payments for WeChat mini-games and mini-programs, taking a 15% cut from these transactions, which is significantly lower than the traditional 30% fee for in-app purchases [4][5] - The announcement of the "Mini Apps Partner Program" by Apple marks the formal integration of mini-programs into the iOS ecosystem, providing developers with a new commercial pathway and ensuring compliance under Apple's regulatory framework [5] Group 1 - Tencent is optimistic about its ongoing relationship with Apple and the progress made in developing the mini-game ecosystem, indicating constructive advancements in their collaboration [4] - The "Mini Apps Partner Program" allows developers to create self-contained experiences using web technologies like HTML5 and JavaScript, which can be accessed without installation within a host app [5] Group 2 - The new program offers a reduced revenue share of 15% for digital goods, applicable to all qualifying transactions, regardless of the developer's size, which is a significant shift in Apple's approach to revenue sharing in the Chinese market [5] - This agreement concludes a year-long negotiation between Tencent and Apple, reflecting a major adjustment in Apple's application ecosystem strategy in China [5]

腾讯微信：欢迎苹果对小程序和小游戏开发者的支持，乐见苹果推出“小程序合作伙伴计划”（Mini Apps Partner Program）。我们将尽快为开发者提供接入服务，共同建设一个健康繁荣的生态。🗒️苹果宣布对参与“小程序合作伙伴计划”的App内购销售提供15%的收益抽成减免，印证了此前的消息。 https://t.co/Qa9zsM2XZx外汇交易员 (@myfxtrader):腾讯已与苹果达成一项协议，该协议规定苹果将处理支付，并从微信小游戏和应用内的购买中抽取15%的分成。两位科技巨头之间谈判已超过一年。苹果此前一直要求腾讯堵上被应用开发者将用户引导至外部支付系统的漏洞，从而规避30%的“苹果税”。 ...

Core Insights - Apple has confirmed a 15% commission rate for in-app purchases related to mini-apps and mini-games, a result of negotiations with Tencent, marking a shift from the previous 30% rate for developers earning over $1 million annually [1][3] - The new commission structure is seen as a compromise that may enhance Apple's revenue from mini-game developers, who primarily generate income through in-app purchases rather than advertisements [4][5] - The global trend indicates a push against high commission rates, with various regions, including the EU and Japan, reducing their respective rates, and ongoing scrutiny of Apple's practices in China [5] Group 1 - Apple has established a 15% commission rate for mini-apps and mini-games, allowing developers to retain 85% of in-app purchase revenue [1] - The previous structure charged a 30% commission for developers earning over $1 million, while those earning less paid 15% [1] - The change in commission rates reflects a dynamic negotiation process between Apple and Tencent, aimed at addressing payment system concerns [3] Group 2 - Tencent's management has highlighted the inherent tension between the gaming industry and app stores due to high commission rates, which they view as a significant burden [4] - The gaming sector's response to Apple's commission structure has been cautious, with a focus on sustainable and fair economic conditions for developers [3][4] - The mini-game development landscape in China is still emerging, with over 80% of developers being small teams of fewer than 30 people, making the commission structure critical for their viability [4] Group 3 - Apple's services revenue, including the App Store, reached $28.75 billion in the latest quarter, a 15% year-over-year increase, indicating strong performance despite challenges to its commission model [5] - Regulatory pressures in various regions are leading to a reevaluation of Apple's commission rates, with the EU's rate dropping to 17% and Japan implementing laws to lower app store fees [5] - In China, consumer complaints about Apple's market dominance and high commission rates have prompted regulatory scrutiny, suggesting potential changes in the future [5]

Core Insights - Apple has officially launched the Mini Apps Partner Program, establishing a regulatory framework for mini-programs, which are lightweight applications that function between web pages and apps [1][9] - A significant agreement between Tencent and Apple allows Apple to take a 15% cut from revenue generated through WeChat mini-programs and games, facilitating the implementation of the Mini Apps Partner Program in China [3][21] Group 1: Mini Programs on iOS - Mini programs have been marginalized on iOS, lacking access to system capabilities and commercial pathways, relying primarily on advertising for revenue [6][9] - Apple has now recognized mini programs as a legitimate application form, allowing them to be distributed within larger host apps without appearing in the App Store [8][9] - The new framework allows for the integration of advanced commerce APIs, enabling payment through Apple's official channels and ensuring transparency in product listings and transaction records [11][17] Group 2: Revenue Model and Developer Incentives - The revenue share for mini programs is set at 15%, significantly lower than the traditional 30% cut for in-app purchases, making it more attractive for developers [21][25] - This change is expected to stimulate the development of lightweight applications and games, providing a new distribution path for developers [31][34] Group 3: Industry Impact and Future Directions - The introduction of mini programs could revitalize web technologies on mobile platforms, offering new opportunities for lightweight tools and services [31][34] - The potential for WeChat's international version to adopt this framework could lead to new avenues for mini programs outside of China [33] - Apple's strategy appears to be creating a new ecosystem layer that integrates AI and lightweight applications, positioning mini programs as a controllable and scalable solution within its ecosystem [34]