｜ 2025年11月4日星期二｜ NO.1 上海迪士尼开园9年接待游客量破亿，将新建第四座主题酒店 11月3日，上海迪士尼度假区宣布两大消息：乐园已迎来开园9年以来的第一亿位游客，同时将启动全新 扩建项目——建设第四座主题酒店，并新增购物、餐饮及娱乐体验区，以回应持续增长的游客需求。此 次扩建项目的核心是第四座主题酒店，该酒店将紧邻上海迪士尼乐园主入口，建成后将成为离乐园最近 的主题酒店，住店宾客步行即可入园。酒店将融入迪士尼故事与想象力，打造沉浸式尊享休闲体验，为 游客提供独具特色的主题住宿选择。 点评：上海迪士尼九年迎客破亿，印证其作为世界级旅游目的地的吸引力。同步启动的扩建项目精准回 应需求，近园酒店强化沉浸体验，新增商业设施延伸消费场景。这一"客流增长—设施升级"的正向循 环，既夯实上海文旅矩阵优势，也折射出国内休闲消费市场的深厚潜力。 NO.2 金店黄金首饰价格普遍涨超5%，部分银行暂停办理积存金兑换实物 11月1日，财政部、国家税务总局发布《关于黄金有关税收政策的公告》，明确黄金有关税收政策。受 新政影响，11月3日，多家黄金品牌首饰金价上调5%至6%，部分品牌投资金价也出现6%左右涨幅，部 分银 ...

Core Insights - The mini-game sector in China's gaming industry is experiencing exponential growth, with the market expected to surpass 60 billion yuan in 2024, up from 2.75 billion yuan in 2021, marking a 14-fold increase over four years [1] - Century Huatong, a leading gaming company in A-shares, has signed a strategic cooperation agreement with Mango TV to capture opportunities in the mini-game market [1][4] Company Overview - Mango TV, as a new media platform of Hunan Broadcasting, has established a strong content moat through exclusive resources and self-produced capabilities, ranking 19th among Chinese internet companies and projected to reach 73.31 million members by the end of 2024 [3] - The "Mango Fun" mini-game platform aims to integrate vast entertainment IPs with gaming content, targeting a young audience, with over 85% of its users being female, aligning well with the mini-game market demographics [3][4] Strategic Cooperation - The partnership will enhance the "Mango Fun" platform's content and technology capabilities, leveraging Shengtong Games' extensive experience and popular IPs like "Legend of Blood" and "Dragon Valley" [4][5] - The collaboration will focus on content development, user operation, product introduction, and exploring diverse monetization models to maximize the commercial potential of integrated content and gaming [4][5] Technological Innovation - Shengtong Games has initiated an AI mini-game competition, resulting in products with native AI interaction capabilities, which could be integrated with Mango's IP for personalized gaming experiences [5] - The mini-game sector is shifting from a focus on traffic to a "content is king" strategy, with major players like Tencent and ByteDance enhancing their ecosystems [5][6] Future Outlook - The partnership is expected to drive growth in the mini-game market, providing new revenue streams for both Shengtong Games and Century Huatong, while reinforcing Mango TV's position as a leading media entity [6][7] - This collaboration signifies a new phase of "ecological competition and cooperation" in the mini-game industry, potentially leading to industry consolidation and value reconstruction [7]

Core Viewpoint - Century Huatong's subsidiary, Shengqu Games, has signed an exclusive strategic cooperation agreement with Mango TV to capture the mini-game market [1] Group 1: Content Development - The collaboration will focus on deepening the value of Mango TV's variety shows and film IPs to expand the content matrix of the "Mango Fun" mini-game platform [1] Group 2: User Operations - The partnership aims to create a precise reach system by combining Mango TV's user profile with Shengqu's private domain operation experience [1] Group 3: Product Introduction - Shengqu Games will leverage its industry resources to introduce high-quality game developers, facilitating the implementation of more creative gameplay on the platform [1] Group 4: Commercial Monetization - Both parties will actively explore diversified profit models to maximize the commercial potential of content, traffic, and game integration [1]