证券之星消息，根据市场公开信息及11月26日披露的机构调研信息，长城基金近期对4家上市公司进行了调研，相关名单如下： 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成投资建议。 3）德赛西威 （景顺长城基金参与公司特定对象调研&电话会议） 调研纪要：公司在智能化领域具备全球领先的能力，已赢得众多海外客户认可，未来将系统稳步导入各区域市场。公司秉持"开放、全栈、快速实 现"价值主张，通过创新与合作打造首发案例，积累全栈式体系能力，构筑生态持续扩大、竞争壁垒不断加固的成长飞轮。在智能座舱与智能驾驶 跨域融合趋势下，公司凭借双领域领先优势，进一步提升综合竞争力，推动业务持续增长。 4）世纪华通 （长城基金参与公司投资者交流会） 调研纪要：23年上线的游戏仍在创新高，尚未观测到生命周期顶峰，Kingshot正在打破WhiteoutSurvival海外纪录，海外市场更大，用户更多。公 司通过高速低成本测试多个产品，23年以来发布不少于20款产品，爆款由数据驱动。点点利润约占公司总利润的2/3，激励机制结合现金与股权。 海外市场用户重合度约为20%。研发费用 ...

Core Viewpoint - The company is primarily focused on the research and development of game products while also exploring and innovating in the AIGC field [1] Group 1 - The company confirmed that game product development and publishing is its main focus [1] - The company is actively exploring and innovating in the AIGC sector [1]

Market Overview - The market showed signs of recovery with all three major indices closing in the green, with the Shanghai Composite Index up by 0.55%, the Shenzhen Component Index up by 0.19%, and the ChiNext Index up by 0.29% [1][8] - The total trading volume in the Shanghai and Shenzhen markets was 2.11 trillion yuan, a decrease of 210.7 billion yuan compared to the previous trading day [1] Sector Performance - Thorium-based molten salt concept stocks performed strongly, with companies like Baose Co., Ltd. and Hailu Heavy Industry hitting the daily limit [2][7] - The AI application sector was active, with stocks such as Jishi Media and 37 Interactive Entertainment also reaching the daily limit [1][3] - The coal sector saw renewed strength, with Antai Group achieving 7 limit-ups in 13 trading days [1] - The Hainan Free Trade Zone stocks continued to perform well, with companies like Luoniushan hitting the daily limit following the implementation of new duty-free policies [2][7] - Storage chip concept stocks rebounded, with Puran Co., Ltd. rising over 14% [1] Key Developments - The thorium-based molten salt reactor, led by the Shanghai Institute of Applied Physics, achieved a significant milestone by converting thorium-uranium nuclear fuel, marking the first time such data has been obtained globally [2][7] - The new duty-free policy in Hainan, effective from November 1, showed initial positive effects, with sales reaching 78.549 million yuan on the first day, a 6.1% increase compared to the previous day [2][7] Individual Stock Highlights - In the technology sector, storage chip stocks like Shannong Chip and Puran Co., Ltd. saw significant gains, with Shannong Chip rising over 8% and Puran Co., Ltd. over 10% [6] - Other notable performers included Industrial Fulian, which rose over 4%, and several other core stocks in the computing hardware sector [6] Market Sentiment and Future Outlook - The market is currently experiencing a rotation of hotspots, with a focus on identifying core stocks that can lead the next rally [3][8] - The overall market sentiment has improved, but trading volume remains low, indicating that a strong upward trend may still be uncertain [8]

Group 1 - The event recognized 60 individuals and 30 companies for their contributions to the non-public economy in Shenzhen, highlighting their roles in high-quality development [1] - The recognition aims to inspire non-public economic actors to focus on integrity and law-abiding practices while contributing to Shenzhen's goal of becoming a globally influential economic center [1] Group 2 - The 60 recognized individuals predominantly represent sectors with a strong focus on technological innovation and deep industry engagement, including leaders from hard tech and electronic information industries [2] - Notably, there is a significant representation from the new economy sector, indicating a cluster advantage in digital economy and fintech within Shenzhen's non-public economic landscape [2] - The inclusion of grassroots service providers and individual entrepreneurs challenges the stereotype that "excellent builders" are solely large enterprise leaders, reflecting Shenzhen's recognition of the role of small market entities in employment and livelihood [2] Group 3 - The 30 awarded companies demonstrated a high degree of integration between social responsibility and industrial empowerment, with firms like SF Express and Huace Testing contributing to public welfare through their core business operations [3] - The awards signal a shift in Shenzhen's non-public economy from "scale expansion" to "quality enhancement," emphasizing collaboration and mutual benefit among enterprises [3] - Shenzhen's private enterprises are increasingly seen as key players in driving high-quality urban development and supporting the modernization of China through diverse contributions [3]

Core Insights - The report indicates that as of October 28, 2025, 40 institutional investors hold a total of 256 million shares of Sanqi Interactive Entertainment, accounting for 11.56% of the company's total share capital [1] - The top ten institutional investors collectively hold 10.98% of the shares, which represents a decrease of 0.52 percentage points compared to the previous quarter [1] Institutional Holdings - Among the institutional investors, notable names include Hong Kong Central Clearing Limited and China Minsheng Bank, with significant holdings in various ETFs focused on animation and gaming [1] - The report highlights that there are 8 public funds that increased their holdings, with a total increase of 0.44% [2] - Conversely, 12 public funds reduced their holdings, with a slight decline in their overall share [2] Foreign Investment - The report notes that one foreign fund, Hong Kong Central Clearing Limited, reduced its holdings by 0.20% compared to the previous quarter [2]

Core Viewpoint - The company reported strong financial performance for Q3 2025, with significant year-on-year growth in both revenue and net profit, alongside a robust dividend distribution plan for shareholders [2][3]. Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 12.461 billion yuan and a net profit of 2.345 billion yuan, representing a year-on-year growth of 23.57% [2]. - In Q3 2025 alone, the company generated a revenue of 3.975 billion yuan and a net profit of 944 million yuan, with a year-on-year increase of 49.24% [2]. Dividend Distribution - The company proposed a cash dividend of 2.10 yuan per 10 shares for Q3 2025, with an expected total cash dividend amount of 462 million yuan, bringing the total dividends for the year to 1.386 billion yuan, which is approximately 59% of the net profit [2]. - The company has consistently increased its dividend payout, raising the distribution from 5.2 yuan per 10 shares in 2021 to 10 yuan per 10 shares by 2024, and has shifted from biannual to quarterly dividends [3]. Shareholder Return Strategy - The company has demonstrated a commitment to enhancing shareholder returns, with cumulative cash dividends of 1.772 billion yuan, 1.806 billion yuan, and 2.2 billion yuan for the years 2022 to 2024, totaling 5.778 billion yuan over three years [3]. - The company's focus on shareholder returns aligns with market expectations and enhances its attractiveness to investors, reflecting a strategy of long-term value creation [3].

Core Insights - The company reported a revenue of 12.461 billion yuan and a net profit of 2.345 billion yuan for the first three quarters of 2025, marking a year-on-year growth of 23.57% [1] - 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% [1] - The company announced a cash dividend distribution plan for Q3, proposing a payout of 2.10 yuan per 10 shares, with an expected total cash dividend of 462 million yuan for the quarter [1] Financial Performance - The cumulative cash dividends from 2022 to 2024 were 1.772 billion yuan, 1.806 billion yuan, and 2.2 billion yuan respectively, totaling 5.778 billion yuan over three years [2] - The company has consistently increased its dividend payout ratio, from 5.2 yuan per 10 shares in 2021 to 10 yuan per 10 shares in 2024 [2] - The company has shifted from biannual to quarterly dividend distributions, enhancing shareholder returns and demonstrating a commitment to long-term value creation [2] Shareholder Returns - The total cash dividend for the first three quarters of 2025 is projected to reach 1.386 billion yuan, representing approximately 59% of the net profit, significantly above the industry average [1] - The company's focus on shareholder returns aligns with regulatory requirements and enhances its attractiveness in the capital market, drawing increasing interest from investors [2]

Core Viewpoint - Sanqi Interactive Entertainment reported strong financial performance for Q3 2025, with significant year-on-year growth in both revenue and net profit, reflecting the company's robust operational strategy and commitment to shareholder returns [2][3]. Financial Performance - For the first nine months of 2025, the company achieved a revenue of 12.461 billion yuan and a net profit of 2.345 billion yuan, marking a year-on-year increase of 23.57% [2]. - In Q3 2025 alone, the company generated a revenue of 3.975 billion yuan and a net profit of 944 million yuan, with a remarkable year-on-year growth of 49.24% [2]. Dividend Policy - The company announced a cash dividend distribution plan for Q3 2025, proposing a payout of 2.10 yuan per 10 shares, which translates to an expected total cash dividend of 462 million yuan [2]. - Cumulatively, the total dividend amount for the year is projected to reach 1.386 billion yuan, representing approximately 59% of the net profit attributable to shareholders, significantly higher than the industry average [2]. - The company has progressively increased its dividend payout ratio from 5.2 yuan per 10 shares in 2021 to 10 yuan per 10 shares in 2024, and has shifted from biannual to quarterly dividend distributions [3]. Shareholder Engagement - The company’s commitment to enhancing shareholder returns is evident through its consistent increase in dividend amounts, with total cash dividends of 1.772 billion yuan, 1.806 billion yuan, and 2.200 billion yuan for the years 2022 to 2024, respectively, totaling 5.778 billion yuan over three years [3]. - This focus on shareholder returns aligns with the broader market trend where dividend policies are a key metric for investors assessing the investment value of listed companies [3].

Core Insights - The company reported a revenue of 3.975 billion yuan for Q3 2025, representing a year-on-year decline of 3.23% [2] - Net profit attributable to shareholders reached 944 million yuan, showing a significant year-on-year increase of 49.24% [2] - Basic earnings per share (EPS) for Q3 2025 was 0.43 yuan [2] Financial Performance - For the first three quarters of 2025, the company achieved a total revenue of 12.461 billion yuan, which is a year-on-year decrease of 6.59% [2] - The net profit attributable to shareholders for the first three quarters was 2.345 billion yuan, reflecting a year-on-year growth of 23.57% [2] - Basic EPS for the first three quarters stood at 1.07 yuan [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% [1] - 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% [1] - The company announced a cash dividend of 2.10 yuan per 10 shares for Q3, with a total expected cash distribution of 462 million yuan, resulting in a total dividend payout of 1.386 billion yuan for the year, which is 59% of the net profit attributable to shareholders [1] Dividend Policy and Shareholder Returns - The company has consistently increased its dividend payout ratio, from 5.2 yuan per 10 shares in 2021 to 10 yuan per 10 shares in 2024, demonstrating a commitment to enhancing shareholder returns [2] - The frequency of dividends has been raised from twice a year to quarterly, allowing shareholders to receive returns more frequently and showcasing the company's focus on long-term value creation [2] - Cumulative cash dividends from 2022 to 2024 amounted to 1.772 billion yuan, 1.806 billion yuan, and 2.200 billion yuan respectively, totaling 5.778 billion yuan over three years, indicating a steady increase in shareholder returns [2] Market Position and Investor Confidence - The company's robust dividend policy is a key factor for investors when assessing the investment value of listed companies in the A-share market [2] - By continuously launching high-quality gaming products and maintaining strong profitability, the company enhances its attractiveness in the capital market, thereby gaining more investor interest [2]