Core Insights - The company reported a revenue of 534 million yuan and a net profit attributable to shareholders of 77 million yuan for the first three quarters of 2025, with a third-quarter revenue of 176 million yuan and a net profit of 29 million yuan [1][2] Financial Performance - For the first three quarters of 2025, the company's revenue was 534 million yuan, with a net profit of 77 million yuan and a net profit of 76 million yuan after excluding non-recurring gains and losses [1] - In the third quarter, the company achieved a revenue of 176 million yuan and a net profit of 29 million yuan, with a net profit of 25 million yuan after excluding non-recurring gains and losses [1] Business Strategy - The company is focusing on a sustainable development path of "integrated research and operations, focusing on quality," enhancing global research and operational capabilities while accelerating the development and testing of new products [1] - The company is also increasing its investment in lightweight gaming segments, aiming to create a complementary ecosystem of "heavy-duty breakthroughs + light-duty traffic" [1] R&D and Innovation - The company increased its R&D expenses by 3.4% year-on-year to 197 million yuan for the first three quarters of 2025, concentrating resources on its main gaming business [2] - The company launched the industry's first commercially viable 3D game AIGC development tool "LayaIdea" in collaboration with Blue Box, marking a transition from technical exploration to commercial application in the "AI + gaming" sector [2] Cost Management - The company has effectively released operational efficiency, with sales and management expenses decreasing by 24.2% and 18.1% year-on-year, respectively, while ensuring core business investments in R&D and new product reserves [2]

Core Insights - The company reported a total revenue of 534 million yuan and a net profit attributable to shareholders of 77 million yuan for the first three quarters of 2025, with a quarterly revenue of 176 million yuan and a net profit of 29 million yuan in Q3 [1] - The company is focusing on a sustainable development path by enhancing global research and operational capabilities while accelerating the development of new products, particularly in the casual gaming sector [1][2] - The company has made significant investments in R&D, with R&D expenses increasing by 3.4% year-on-year to 197 million yuan, and is leveraging AI technology in gaming through the launch of the "LayaIdea" tool [2] Financial Performance - For the first three quarters of 2025, the company achieved a revenue of 534 million yuan and a net profit of 77 million yuan, with a quarterly revenue of 176 million yuan and a net profit of 29 million yuan in Q3 [1] - The company has effectively reduced sales and management expenses by 24.2% and 18.1% respectively, while maintaining core business investments [2] Strategic Focus - The company is committed to a dual strategy of "heavy attack + light diversion" to create a complementary business ecosystem, focusing on both high-quality products and casual gaming [1] - The company has established a comprehensive layout for "AI + gaming," marking a transition from technical exploration to commercial application with the launch of the "LayaIdea" tool [2] Market Outlook - Despite short-term pressures in the gaming industry, the company is positioned to capitalize on new product launches and accelerated overseas market expansion, aiming to seize opportunities during the industry's recovery phase [3]

Core Viewpoint - The recent shareholder meeting and board election at Zhangqu Technology (300315) have established a solid governance foundation for the company's future strategic implementation, with a focus on leveraging the new chairman's cross-industry experience to enhance decision-making and execution in the gaming sector [1] Group 1: Governance and Leadership - The company successfully completed the board re-election and senior management appointments during the second extraordinary shareholder meeting of 2025 [1] - New chairman Liu Zhigang has a diverse background in telecommunications, internet, cloud computing, and gaming, which will support the company's strategic decisions and initiatives [1] Group 2: Product and Technology Strategy - Zhangqu Technology is focusing on the high-potential SLG gaming sector, accelerating the development of new games such as "Code H" and "Code S," while also deepening its presence in the casual gaming market to meet fragmented user demands [1] - The company is actively integrating AI into gaming, having launched the industry's first commercial 3D game AIGC development tool, LayaIdea, in collaboration with Blue Asia Box, which enhances interactive advertising and game prototype development [1] Group 3: Future Outlook - The governance restructuring and new management team are expected to optimize the company's decision-making and execution systems, positioning Zhangqu Technology to seize opportunities in the gaming industry's transformation and to integrate "AI + gaming" with a focus on high-quality development [1]

Group 1 - The core strategy of the company is a dual-driven approach combining product development and technological innovation, focusing on SLG games and AI applications to unlock new growth opportunities [1][4] - The company has been actively transforming its product lineup by emphasizing high-potential SLG games and mini-program games, which are expected to provide stable revenue streams [2][4] - The launch of LayaIdea, a commercial AI game engine tool, marks a significant advancement in the company's technological capabilities, enhancing efficiency in game development and positioning the company favorably in the "AI + gaming" sector [3][4] Group 2 - The company has established partnerships with leading firms like NVIDIA and Blue Box to explore the application of AIGC in game development, indicating a strong commitment to innovation [3] - The company’s proactive investments and collaborations, such as those with Animoca and WEBZEN, are aimed at enhancing growth flexibility and expanding business boundaries [4] - The future development path of the company is increasingly clear, with a focus on launching new SLG titles and mini-games, alongside the commercialization of AI tools to improve research and development efficiency [4]

Group 1 - The core strategy of the company is a dual-driven approach of "products + technology," focusing on SLG games and mini-games while embracing AI advancements to open new growth opportunities [1][4] - Since its establishment in 2004, the company has maintained competitiveness through a "research and operation integration, quality first" model, adapting to industry changes by restructuring its product lineup towards SLG and mini-program games [2][4] - The company has accelerated the development and launch of new SLG projects, such as "Code H" and "Code S," which are expected to provide significant revenue support due to their high user engagement and long lifecycle [2][4] Group 2 - The company has established partnerships with firms like NVIDIA and Blue Box to explore AI applications in game development, marking a significant step towards integrating AI into its processes [3][4] - The launch of LayaIdea, a commercial 3D game AIGC development tool, represents a breakthrough in China's gaming industry, enhancing the company's capabilities in interactive advertising, game prototyping, and lightweight 3D production [3][4] - The company is focused on expanding its investment and collaboration efforts, enhancing growth flexibility and business boundaries, while aiming for a clear development path in the new cycle with a focus on SLG and AI applications [4]

国产引擎积累优势，AI工具推动效率倍增 在推动AI与游戏深度融合的进程中，蓝亚盒子与掌趣科技保持着长期合作。掌趣科技作为科技型游戏 企业，持续深耕"AI+游戏"方向，此前已与蓝亚盒子在技术研发方面展开联合探索。此次LayaIdea的正 式发布，正是双方合作的最新成果。 从应用层面看，LayaIdea为互动试玩广告和游戏原型验证两大场景带来直接价值。互动试玩广告作为移 动广告市场的重要形式，虽然转化效率高，但一直存在制作周期长、成本高的痛点。LayaIdea的引入， 使开发周期从约一周缩短至约一天，同时生成的代码符合广告平台规范，有效兼顾效率与质量。 近日，国内领先的3D游戏引擎研发商北京蓝亚盒子科技有限公司(LayaBox)联合掌趣科技（300315） (300315.SZ)正式发布全新AI游戏开发工具LayaIdea。依靠将自然语言编程技术与3D引擎的充分融合， 凭借LayaBox在3D引擎领域大量的模型、代码和数据积累，经过研发团队不断地努力，LayaIdea终于问 世。LayaIdea的推出，进一步拓展了国内游戏领域AIGC的功能边界，从之前的"游戏资产生成"进化 到"代码+玩法生成"，是国内自主研发的 ...