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神州泰岳:目前avavox已完成企业级认证用户超过百家
Zheng Quan Ri Bao Wang· 2026-01-15 09:43
证券日报网讯1月15日,神州泰岳(300002)在互动平台回答投资者提问时表示,avavox作为公司在智 能语音数字员工方向的SaaS产品,目前已在家装、旅游、招聘、物流、金融等多个行业场景中进行应 用,主要用于大模型智能外呼、语音交互等。产品能力方面,avavox已完成与国内主流大模型语音识 别、语音合成及文本大模型能力的结合,并结合自研的小模型能力,持续优化在不同行业场景下的实际 落地效果。目前avavox已完成企业级认证用户超过百家,反馈情况良好,但仍处于前期获客阶段。 ...
神州泰岳(300002.SZ):目前avavox已完成企业级认证用户超过百家,反馈情况良好
Ge Long Hui· 2026-01-15 07:17
格隆汇1月15日丨神州泰岳(300002.SZ)在投资者互动平台表示,avavox 作为公司在智能语音数字员工方 向的 SaaS 产品,目前已在家装、旅游、招聘、物流、金融等多个行业场景中进行应用,主要用于大模 型智能外呼、语音交互等。产品能力方面,avavox 已完成与国内主流大模型语音识别、语音合成及文 本大模型能力的结合,并结合自研的小模型能力,持续优化在不同行业场景下的实际落地效果。目前 avavox已完成企业级认证用户超过百家,反馈情况良好,但仍处于前期获客阶段。 ...
神州泰岳(300002):点评报告:三季度业绩符合预期,静待新产品周期
ZHESHANG SECURITIES· 2025-11-04 10:56
Investment Rating - The report maintains a "Buy" rating for the company [4] Core Insights - The company's Q3 2025 performance met expectations, with a slight decline in revenue and net profit, while the overseas market remains stable, and there is optimism for the new game cycle [1][2] - The decline in net profit is primarily due to a significant recovery of a large lawsuit receivable in the same period last year, which reduced bad debt provisions by 245 million [2] - The company is focusing on building a "2+2+N" product matrix, emphasizing the SLG genre, with two new games currently in overseas commercialization testing [3] Financial Overview - Q3 2025 revenue was 1.38 billion (down 5.3% YoY), with a net profit of 215 million (down 53.6% YoY) and a non-GAAP net profit of 208 million (down 3.2% YoY) [2] - The gross margin for Q3 2025 was 56.17% (down 5.02 percentage points YoY), with sales expenses of 178 million and a research and development expense of 84 million [2] - Revenue projections for 2025-2027 are 6.93 billion, 8.94 billion, and 9.93 billion respectively, with net profits of 1.29 billion, 1.96 billion, and 2.15 billion [4][6] Product Development - The company has released two new games, "Stellar Sanctuary" and "Next Agers," which are currently in testing phases and have received domestic licenses for release [3] - The AI product line, avavox, is being promoted as a key new product, integrating various AI technologies to enhance its commercial application [3]
神州泰岳(300002):公司稳健运营 新游戏筹备中
Xin Lang Cai Jing· 2025-10-30 08:44
Performance Overview - In the first three quarters of 2025, the company achieved revenue of 4.068 billion yuan, a year-over-year decrease of 9.86% [1] - The net profit attributable to the parent company was 724 million yuan, down 33.77% year-over-year [1] - The non-recurring net profit was 696 million yuan, a year-over-year decline of 16.42% [1] - In Q3 2025, the company reported revenue of 1.384 billion yuan, a year-over-year decrease of 5.29% [1] - The net profit attributable to the parent company for Q3 was 215 million yuan, down 53.55% year-over-year [1] - The non-recurring net profit for Q3 was 208 million yuan, a year-over-year decrease of 3.20% [1] Game Operations and New Releases - The company's existing games, "Age of Origins" and "War and Order," are operating stably [2] - The new game "Stellar Sanctuary" was launched overseas at the end of August, maintaining over 500 daily advertising placements in Europe, America, and Southeast Asia within two weeks [2] - "Next Agers" has been launched on Google Play and the App Store in the US [2] - Two additional new games are expected to launch domestically in the near future [2] AI Product Development - The company plans to test three SLG games in the first half of 2026 [3] - On June 10, the company launched the "Taiyue Lighthouse" AI model application capability system, which includes three AI products [3] - The key product, avavox, integrates a large model with over 200 industry templates to provide intelligent voice robot services for B-end users [3] - Avavox operates on a subscription-based revenue model, with a focus on customer subscription numbers and overall payment status [3] Investment Outlook - The company is projected to achieve net profits attributable to the parent company of 1.08 billion yuan, 1.3 billion yuan, and 1.38 billion yuan for the years 2025, 2026, and 2027, representing year-over-year changes of -24.3%, 20.2%, and 6.5% respectively [4] - Corresponding price-to-earnings ratios are expected to be 22.05, 18.34, and 17.22 for the respective years [4] - The long-term operation of core games is expected to continue providing performance growth, while the overseas launch of new games is anticipated to contribute to revenue increases [4]
神州泰岳(300002):公司信息更新报告:新游周期及AI商业化将开启,业绩拐点渐近
KAIYUAN SECURITIES· 2025-10-30 06:46
Investment Rating - The investment rating for the company is "Buy" (maintained) [1] Core Views - The company is expected to gradually reach an inflection point in performance driven by a new game cycle and AI commercialization [4] - Q3 revenue and net profit margins show signs of resilience despite previous declines, indicating potential for recovery [4] - The company has adjusted its product launch strategies and is seeing improved performance in core gaming products [4] Financial Summary - For Q1-Q3 2025, the company achieved revenue of 4.068 billion yuan, a year-on-year decrease of 9.86%, and a net profit of 724 million yuan, down 33.77% [4] - Q3 revenue was 1.384 billion yuan, with a year-on-year decline of 5.3%, while the net profit margin was 17.5%, down 6.5 percentage points [4] - The gross margin for Q1-Q3 2025 was 58.6%, a decrease of 3.4 percentage points year-on-year [4] Game Performance - The core games "Age of Origins" and "War and Order" have shown stable performance in the U.S. iOS market, with rankings improving over the months [5] - New SLG games "Stellar Sanctuary" and "Next Agers" are nearing commercialization, which is expected to contribute to revenue growth [5] AI Product Development - The company launched the intelligent voice robot avavox, which has significantly improved communication efficiency and reduced operational costs [6] - The global expansion of avavox is anticipated to provide additional revenue streams [6] Financial Projections - The company’s projected net profits for 2025, 2026, and 2027 are 1.154 billion yuan, 1.724 billion yuan, and 2.604 billion yuan respectively, with corresponding P/E ratios of 20.6, 13.8, and 9.1 [4][7] - Revenue is expected to decline in 2025 but rebound significantly in 2026 and 2027, with growth rates of 36.4% and 28.9% respectively [7]
神州泰岳(300002):新游《STELLARSANCTUARY》美区上线 推出多个AI应用新产品
Xin Lang Cai Jing· 2025-10-30 06:43
Performance Overview - In Q1-Q3 2025, the company achieved operating revenue of 4.068 billion yuan, a year-on-year decline of 9.86% [1] - The net profit attributable to shareholders was 724 million yuan, down 33.77% year-on-year [1] - The net profit excluding non-recurring items was 696 million yuan, a decrease of 16.42% year-on-year [1] - In Q3 2025, the operating revenue was 1.384 billion yuan, a year-on-year decline of 5.29% [1] - The net profit attributable to shareholders in Q3 was 215 million yuan, down 53.55% year-on-year [1] - The net profit excluding non-recurring items in Q3 was 208 million yuan, a decrease of 3.20% year-on-year [1] Game Development and Strategy - The new game "Stellar Sanctuary" was launched on the US App Store, while existing games continue to undergo frequent iterations [2] - The company’s subsidiary, Shellwood Games, adheres to a "diversification + quality" strategy, continuously innovating in game themes and gameplay [2] - "Age of Origins" maintained high-frequency updates in Q3, introducing new systems and celebrating its seventh anniversary with various activities [2] - "War and Order" also received multiple updates to enhance user experience [2] - Both "Age of Origins" and "War and Order" ranked in the top 20 of the "2025 Q3 China Game Overseas Evergreen List" [2] - The company is actively integrating with the Hongmeng ecosystem, with two strategy games already adapted for the Hongmeng system [2] AI and Digital Solutions - The "Yueqing" large model passed authoritative testing by the China Academy of Information and Communications Technology, marking a significant breakthrough in AI technology integration [3] - The "Yueqing" model is built on the "Taiyue Lighthouse" AI model application capability system, featuring a dual-core intelligent agent collaborative architecture [3] - The company joined the "Agent Qizhi" application research promotion plan initiated by the China Academy of Information and Communications Technology [3] - The company launched the voice digital employee "avavox," which includes over 200 industry templates to enhance operational efficiency [4] - "avavox" can complete tasks in 10 minutes that would take human agents half a day, achieving a 95% accuracy rate in problem identification [4] - The new knowledge management agent "UltraTalk" integrates generative AI capabilities and is adaptable to various industry scenarios [4] Profit Forecast - Due to the current product launch being in the investment phase, the profit forecast has been adjusted [5] - The company is expected to achieve net profits attributable to shareholders of 1.015 billion, 1.250 billion, and 1.437 billion yuan for 2025-2027, with corresponding P/E ratios of 23, 19, and 16 times [5] - The investment rating is maintained as "Buy" [5]
神州泰岳(300002) - 2025年10月29日投资者关系活动记录表
2025-10-29 14:14
Financial Performance - In the first three quarters of 2025, the company achieved a revenue of 4.068 billion CNY and a net profit attributable to shareholders of 0.724 billion CNY [3] - In Q3 2025, the net profit attributable to shareholders was 0.215 billion CNY, with a non-attributable net profit of 0.208 billion CNY [3] Main Products - The two main products, "Age of Origins" and "War and Order," have maintained strong player engagement, continuing a stable revenue trend after over 6 and 8 years since their launch, respectively [3] - New games "Stellar Sanctuary" and "Next Agers" are currently in the commercialization testing phase and have received domestic game licenses [3] Computer Business Line - The computer business line remains stable, with new businesses in cloud and AI showing promising performance [3] - The AI product "avavox" was officially launched at the 2025 China Mobile Global Partner Conference, integrating general large models and proprietary small models to enhance commercial application efficiency [4]
神州泰岳(300002):核心游戏有望趋稳,SLG新品储备丰富
Investment Rating - The investment rating for the company is "Buy" (maintained) [7] Core Views - The company's performance has shown a quarter-on-quarter improvement, with core games "Age of Origins" and "War and Order" expected to stabilize in revenue trends. The company has a rich pipeline of new SLG products, including "Stellar Sanctuary" and "Next Agers," and continues to implement AI applications. The company is likely to maintain its advantage in the SLG category while also focusing on the progress of its cloud and AI businesses [5][14][15]. Summary by Sections Financial Performance - In H1 2025, the company achieved revenue of 2.685 billion yuan, a year-on-year decrease of 12%. The net profit attributable to the parent company was 510 million yuan, down 19% year-on-year. In Q2 2025, revenue was 1.36 billion yuan, a 13% year-on-year decline but a 3% quarter-on-quarter increase. The net profit for Q2 was 270 million yuan, also down 19% year-on-year but up 13% quarter-on-quarter [13][14]. Game Business - The gaming segment generated revenue of 2.03 billion yuan in H1 2025, a 16% year-on-year decline, primarily due to reduced promotional efforts for long-term games. The marketing expenses for the core products "Age of Origins" and "War and Order" decreased by 40% and 19% respectively. The revenue for "Age of Origins" in Q1 and Q2 was 785 million and 737 million yuan, down 15% and 19% year-on-year, while "War and Order" generated 235 million and 231 million yuan, down 20% and 13% year-on-year. Future revenue is expected to stabilize [14]. New Product Pipeline and AI Applications - The company has a robust reserve of new SLG products, with two new games undergoing commercialization testing and adjustments in H1 2025. These games have received domestic game licenses. Additionally, the company has launched an AI application for enterprises, which includes over 200 industry templates, aiming to meet the high-frequency needs of small and medium-sized B-end clients [15]. Financial Projections - The company is projected to achieve net profits of 1.19 billion, 1.37 billion, and 1.55 billion yuan for 2025, 2026, and 2027 respectively, with year-on-year growth rates of -16.5%, 15.2%, and 12.8%. The price-to-earnings ratios are expected to be 23, 20, and 17 times for the respective years [15][16].
神州泰岳(300002):业绩符合预期,新游进展加速
NORTHEAST SECURITIES· 2025-09-02 11:15
Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% within the next six months [5]. Core Insights - The company reported a revenue of 2.685 billion yuan for the first half of 2025, a year-on-year decrease of 12.05%, with a net profit attributable to shareholders of 509 million yuan, down 19.26% [1]. - The gaming business experienced a revenue decline of 16.41% year-on-year in H1 2025, primarily due to reduced user acquisition costs as core games entered a mature phase [2]. - The company is focusing on long-life cycle SLG games, with two core mobile games, "Age of Origins" and "War and Order," contributing 74% and 23% to gaming revenue, respectively [2]. - New game releases are expected to accelerate, with two new SLG games currently in commercialization testing and several others planned for release in the overseas market [2]. - The company is expanding its AI product matrix, launching the "Taiyue Lighthouse" AI model application system and the subscription-based AI voice robot "avavox," which integrates over 200 industry templates [3]. - Profit forecasts for 2025-2027 project net profits of 1.29 billion, 1.57 billion, and 1.71 billion yuan, respectively, with corresponding P/E ratios of 20.9, 17.2, and 15.8 [3]. Financial Summary - For H1 2025, the company achieved a revenue of 2.685 billion yuan, with a net profit of 509 million yuan [1]. - The financial projections indicate a revenue of 6.177 billion yuan for 2025, a decrease of 4.26% from the previous year, with a net profit of 1.286 billion yuan, down 9.93% [4]. - The company’s earnings per share are projected to be 0.65 yuan in 2025, with a P/E ratio of 20.93 [4]. - The total market capitalization is approximately 26.91 billion yuan, with a closing price of 13.68 yuan as of September 1, 2025 [5].
神州泰岳(300002):新游戏《StellarSanctuary》《NextAgers》陆续上线,后续表现值得期待
Investment Rating - The investment rating for the company is "Accumulate" with a target price of 18.00 CNY, while the current price is 13.82 CNY [7]. Core Insights - The company's classic games "Age of Origins" and "War and Order" have entered a mature phase, leading to a decline in revenue. However, new games "Stellar Sanctuary" and "Next Agers" have been launched, and their future performance is promising [2][13]. - The company is expected to maintain stable revenue from its long-standing games, while new titles are in the early growth stage and are anticipated to contribute positively in the future [13]. Financial Summary - Total revenue is projected to grow from 5,962 million CNY in 2023 to 9,139 million CNY in 2027, with a compound annual growth rate (CAGR) of approximately 11.8% [4][14]. - Net profit attributable to the parent company is expected to increase from 887 million CNY in 2023 to 1,668 million CNY in 2027, with a peak in 2024 at 1,428 million CNY [4][14]. - Earnings per share (EPS) are forecasted to be 0.45 CNY in 2023, rising to 0.85 CNY by 2027 [4][14]. Market Performance - The company's stock has a 52-week price range of 8.58 CNY to 15.88 CNY, with a total market capitalization of 27,186 million CNY [8]. - The stock has shown an absolute increase of 62% over the past 12 months [12]. Product Development - The company has launched a new AI product, avavox, aimed at enhancing work efficiency across various business functions [13]. - The new games "Stellar Sanctuary" and "Next Agers" have received approval for domestic release and are expected to accelerate their launch pace [13].