经济观察网 天娱数科（002354）（002354）在2026年2月10日出现股价异动，单日上涨4.50%，收盘价 报7.66元，成交额达17.03亿元，换手率为13.82%。2月11日股价回调，下跌3.79%，收盘价为7.37元，成 交额为10.95亿元。此次异动主要与市场情绪、资金流向及公司基本面变化相关。 股票近期走势 近期A股市场部分题材股交易活跃，如嘉美包装（002969）、横店影视（603103）等个股因短期涨幅较 大发布风险提示公告。天娱数科作为AI应用与数字经济概念的标的，其股价波动也受到整体市场情绪 影响。2月10日主力资金呈现净流入，但2月11日转为净流出，反映短期资金博弈加剧。 业绩经营情况 公司2025年三季报显示营收同比增长25.67%，归母净利润同比大幅提升597.60%，主营业务盈利能力改 善。2025年业绩预告虽显示净利润亏损，但亏损幅度同比收窄49.98%至65.24%，若剔除资产减值影 响，主营业务已实现盈利。 业务进展情况 业务上，公司在AI营销、具身智能等领域的布局受到市场关注。 资金面与技术面 近期股价在20日布林线中轨（7.44元）附近震荡，2月10日触及上轨7.7 ...

Group 1 - The article discusses the growing trend of AI-generated video content across various industries, highlighting companies leveraging AI technology to enhance content creation and distribution efficiency [1][2][3][4][5][6][7][8][9][10][11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31][32][33][34][35][36][37][38][39][40][41][42][43][44][45][46][47][48][49][50][51][52][53][54][55][56][57][58][59][60][61] Group 2 - Companies like 中文在线 and 捷成股份 are utilizing AI to transform scripts and text into video content, thereby reducing production barriers and enhancing IP monetization [1][2] - 万兴科技 and 流金科技 are focusing on AI video generation tools to support various sectors, including e-commerce and broadcasting, indicating a shift towards integrating AI in traditional industries [4][5] - The article emphasizes the potential for significant revenue growth as demand for AI-generated video content surges, with companies like 当虹科技 and 昆仑万维 already seeing rapid growth in their AI-related product revenues [9][10][11]

本报讯(记者李勇)AI驱动主营业务持续改善，天娱数字科技(大连)集团股份有限公司(以下简称"天娱数 科（002354）")2025年归属于上市公司股东的净利润(以下简称"净利润")预计同比大幅减亏。 据天娱数科1月29日晚间发布的业绩预告，经初步测算，天娱数科预计2025年净利润亏损4100万元至 5900万元，同比减亏49.98%至65.24%。 在行业整体承压的市场环境下，天娱数据2025年度亏损规模预计同比大幅收窄，反映出该公司主营业务 盈利能力的持续改善与经营质量的稳步提升。而业绩的积极转变，核心则源于该公司以"AI应用"为主线 的深度布局与持续深耕。目前，天娱数科已构建起AI营销、具身智能、AI售电、AI跨境电商多点协同 的业务格局。 在AI营销领域，基于智慧广告大模型，AI营销SaaS平台通过AIGC素材生成、智能投放、直播电商转化 全链路自动化服务，为千行百业搭建起与AI生态沟通的底层桥梁，助力品牌在流量重塑浪潮中构建稳 固认知锚点。具身智能赛道上，天娱数科的BehavisionPro空间智能MaaS平台，创新性地提出"Assets— Behavior—Client"(ABC)架构，精准应对行业 ...

中证报中证网讯(记者宋维东)天娱数科（002354）1月29日晚发布业绩预告。2025年，公司归母净利润 预计亏损4100万元至5900万元。天娱数科称，公司基于审慎性原则，对部分业绩未达预期的参股公司及 控股子公司的相关资产拟计提减值准备，导致归母净利润出现亏损。值得关注的是，若剔除上述资产减 值因素，公司主营业务在经营层面已实现盈利。 "天娱数科在清晰的AI应用战略指引下持续深耕，前期投入逐步显现成效。"上述负责人表示，公司将坚 持应用导向，推动技术能力与营销、空间智能、能源等多元产业场景深度融合，不断完善从技术基座到 商业闭环的完整生态。随着各业务板块协同效应进一步释放与商业化进程提速，公司有望在AI赋能实 体经济过程中实现更高质量、更可持续发展。 具身智能赛道上，天娱数科的BehavisionPro空间智能MaaS平台创新性地提出"Assets—Behavior— Client"(ABC)架构，精准应对行业在感知理解、时序决策与跨本体执行方面的挑战。平台已积累超过 150万条3D数据与65万条多模态数据，形成了层次丰富的数据体系。其中，3D铰接数据集入选《北京市 行业高质量数据集典型案例》，为智能体的 ...

Core Viewpoint - Tianyu Digital Technology announced an expected net profit loss attributable to shareholders of the listed company for 2025, ranging from 41 million to 59 million yuan, showing a significant reduction in losses compared to the previous year's loss of 118 million yuan, with a year-on-year decrease of 49.98% to 65.24% [1] Financial Performance - The expected net profit loss after deducting non-recurring items is projected to be between 116 million and 134 million yuan, compared to a loss of 195 million yuan in the same period last year, indicating a year-on-year reduction in losses of 31.32% to 40.54% [1] - The primary reason for the losses is attributed to the planned impairment provisions for certain equity and controlling subsidiaries' related assets, along with the impact of non-recurring gains and losses amounting to approximately 75 million yuan [1] - Excluding asset impairments, the company's main business operations are expected to achieve profitability [1]

股票代码：002354 股票简称：天娱数科 编号：2026—001 天娱数字科技（大连）集团股份有限公司 2025年度业绩预告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 一、本期业绩预计情况 （一）业绩预告期间：2025年1月1日至2025年12月31日 （二）业绩预告情况：预计净利润为负值 | 项目 | 本报告期 | 上年同期 | | --- | --- | --- | | 归属于上市公司 股东的净利润 | 亏损：4,100万元–5,900万元 | 亏损：11,794.80万元 | | | 比上年同期减亏：49.98%-65.24% | | | 扣除非经常性损 益后的净利润 | 亏损：11,600万元–13,400万元 | 亏损：19,510.05万元 | | | 比上年同期减亏： 31.32%-40.54% | | | 基本每股收益 | 亏损：0.0248元/股–0.0357元/股 | 亏损：0.0713元/股 | 公司本次业绩预告的相关财务数据未经会计师事务所审计，但公司已就业绩 预告有关事项与年报审计会计师事务所进行了预沟通，公司与会计师事务所在 ...

Core Insights - The Chinese mobile gaming industry is experiencing significant growth in research and development (R&D) investments, with the top 20 companies projected to invest over 99 billion yuan in 2024, marking an 8.8% year-on-year increase [1] - The domestic revenue from self-developed games is expected to exceed 260 billion yuan in 2024, reflecting a 1.7% increase compared to the previous year [4] - The overseas revenue from self-developed games is anticipated to surpass 18.5 billion USD in 2024, showing a 13.39% year-on-year growth [6] R&D Investments - The total R&D investment by the top 20 mobile gaming companies in China is projected to reach 99.02 billion yuan in 2024, with a continuous increase from 2017 to 2024 [1] - The number of R&D personnel in these companies has shown a declining trend, with a total of 15,721 employees in 2024, down by 1.66% year-on-year [3] - The median percentage of R&D personnel in the top 20 companies is 47.24% in 2024, which is a decrease of 5.97 percentage points from the previous year [3] Domestic Revenue - The actual sales revenue from self-developed games in the domestic market is projected to be 260.736 billion yuan in 2024, reflecting a 1.7% increase year-on-year [4] - The growth in domestic revenue is attributed to the expanding and maturing domestic gaming market, with companies focusing on self-developed games to capture market opportunities [4] Overseas Revenue - The overseas revenue from self-developed games is expected to reach 18.557 billion USD in 2024, marking a 13.39% increase compared to the previous year [6] - The overseas revenue has consistently exceeded 100 billion yuan for five consecutive years, driven by advancements in cloud gaming and AI technologies [6] - The primary markets for overseas revenue are the United States, Japan, and South Korea, contributing 31.06%, 17.32%, and 8.89% respectively to the total overseas income [8]

Summary of Conference Call for Tianyu Shuke Industry Overview - The conference call primarily discusses the application of AI in the advertising and marketing industry, particularly focusing on Tianyu Shuke's strategies and innovations in this field [2][4][8]. Key Points and Arguments 1. **AI's Role in Marketing Efficiency**: - AI enhances marketing efficiency by automating initial communications, questionnaire design, and meeting minutes generation, especially during strategy validation phases [2][4]. - AI can quickly generate materials for small-scale testing, saving time and improving accuracy [2][4]. 2. **Budget Allocation and Targeting**: - AI improves budget allocation by analyzing user characteristics across different platforms, allowing for differentiated strategies and efficient fund usage [2][6]. - Historical data and market trends are utilized for rational budget distribution [2][6]. 3. **Content Creation and Real-time Monitoring**: - AI technologies like text-to-image and video generation significantly reduce production cycles and costs while ensuring high-quality outputs [2][4][6]. - Real-time monitoring of channel performance allows for immediate adjustments to maximize advertising effectiveness [6][7]. 4. **Future Trends in AI Marketing**: - In the next 1-2 years, breakthroughs in AI marketing will focus on large model tuning capabilities, multi-agent systems, and resource integration [9][10]. - The shift from SEO to AI-driven marketing strategies is anticipated, with advertisers expected to reduce SEO budgets in favor of digital optimization (DO) and generative user content (GU) [3][12]. 5. **Strategic Positioning of GU**: - Tianyu Shuke is elevating GU to a strategic priority, adapting to market demands and future trends, particularly as AI begins to replace traditional search engines [11][12]. - The company plans to offer GU services through a service package model, addressing customer needs for specific problem-solving rather than keyword-focused SEO [12]. 6. **Impact on Advertising Budgets**: - As GU becomes more prominent, advertisers are likely to increase their budgets in this area, following the flow of traffic and consumer interest [14][16]. 7. **Industry-Specific Focus**: - High-value sectors such as legal consulting, education, healthcare, finance, and tourism are expected to be early adopters of AI marketing due to the complexity of their products and the need for extensive consumer research [16][17]. 8. **Challenges for Small Brands**: - While larger brands may dominate due to significant advertising investments, small brands can leverage their unique offerings to gain visibility through AI recommendations [18]. 9. **Evaluation of AI Marketing Effectiveness**: - The effectiveness of generative optimization (GO) will initially be assessed through customer satisfaction with answers, followed by sales performance evaluations [19]. 10. **Differentiation Among Large Models**: - Different large models require tailored strategies based on their unique datasets and resource characteristics, which is considered a core competitive secret [20]. Additional Important Insights - The transition from traditional SEO to AI-driven marketing is expected to be rapid, particularly in markets with less competitive search engine quality [13]. - The potential for commercial models similar to bidding rankings in AI marketing is acknowledged, indicating a future where AI and traditional marketing strategies coexist [24]. - Current regulatory frameworks for AI marketing are still developing, with no formal policies in place yet [25]. This summary encapsulates the key insights and strategic directions discussed during the conference call, highlighting the transformative impact of AI on the marketing landscape and Tianyu Shuke's proactive approach in this evolving industry.

Group 1 - The Xiaohongshu concept sector experienced a decline of 4.21%, ranking among the top losers in the concept sector, with stocks like Xinhua Du, Tianxia Xiu, and Shengguang Group hitting the daily limit down [1] - Major stocks within the Xiaohongshu concept that saw significant declines include BlueFocus (-11.52%), Shengguang Group (-10.00%), and Tianyu Shuke (-7.85%) [3][4] - The sector faced a net outflow of 4.935 billion yuan, with 43 stocks experiencing net outflows, and 10 stocks seeing outflows exceeding 100 million yuan, led by BlueFocus with a net outflow of 1.978 billion yuan [2][3] Group 2 - The top gainers in the Xiaohongshu concept included *ST Tianze, Wanrun Technology, and Yiwan Yichuang, with increases of 4.98%, 3.82%, and 3.53% respectively [1][5] - The overall market saw various concept sectors with notable performances, such as storage chips (+4.08%) and national fund holdings (+4.07%), contrasting with the Xiaohongshu concept's decline [2] - The main inflows in the market were observed in stocks like Wanrun Technology, with a net inflow of 191.39 million yuan, and online and offline with 40.41 million yuan [2][5]

Core Viewpoint - The Kuaishou concept stock has experienced a significant decline, with a drop of 4.58%, placing it among the top losers in its sector, while several other stocks within the sector also faced substantial losses [1]. Group 1: Market Performance - As of January 16, the Kuaishou concept stock fell by 4.58%, ranking it among the top decliners in its sector [1]. - Other notable decliners in the Kuaishou concept include Xinhua Du, Vision China, and Shengguang Group, which hit the daily limit down, while stocks like *ST Tianze, Wanrun Technology, and Yiwan Yichuang saw gains of 4.98%, 3.82%, and 3.53% respectively [1]. - The Kuaishou concept sector saw a net outflow of 6.034 billion yuan, with 40 stocks experiencing net outflows, and 13 stocks seeing outflows exceeding 100 million yuan [2]. Group 2: Fund Flow Analysis - The stock with the highest net outflow in the Kuaishou concept was BlueFocus, with a net outflow of 1.978 billion yuan, followed by Zhongwen Online, Shengguang Group, and Tianyu Digital, which had net outflows of 511.7 million yuan, 487.3 million yuan, and 444.0 million yuan respectively [2][3]. - The stocks with the highest net inflows included Wanrun Technology, with a net inflow of 191.39 million yuan, followed by Online and Offline and Ruijie Network, with net inflows of 40.41 million yuan and 34.87 million yuan respectively [5].