Group 1 - The gaming concept stocks have declined, with Light Media falling over 10%, Perfect World down over 4%, and companies like Kaiying Network, G-bits, and Changchun Technology dropping over 2% [1] - The gaming-related ETFs have also seen a decrease of approximately 3% [1] Group 2 - Some brokerages indicate that the global gaming market is currently in an upward cycle, with long-term optimistic growth expected in terms of revenue and player numbers [2] - The strong generative capabilities of DeepSeek may significantly enhance game development efficiency, creating more user-demanded virtual characters, maps, and storylines, thereby enriching gameplay and fostering paid scenarios [2]

2023年7月4日，中邮证券有限责任公司研究员王晓萱、李盈睿发布研报《掌趣科技：打造AI+UGC游戏 创作平台盈利进入上升通道》称，给予掌趣科技"买入"评级。 2023年6月28日，掌趣科技股价盘中达到8.30元，为2020年10月以来最高点。 中国经济网北京2月11日讯掌趣科技（300315）(300315.SZ)今日收盘报6.31元，下跌2.92%。 ...

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交星 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2026-02-06 | 300315 | 掌趣科技 | 6.58 | 72.00 | | 473.76 长江证券股份有限 | 东亚前海证券有限 | | | | | | | | 公司武汉中北路证 | 责任公司深圳分公 | | | | | | | | 券营业部 | 글 | 2月6日，掌趣科技大宗交易成交72万股，成交额473.76万元，占当日总成交额的0.67%，成交价6.58元，较市场收盘价5.82元 溢价13.06%。 ...

2月3日，掌趣科技涨6.09%，成交额14.49亿元。两融数据显示，当日掌趣科技获融资买入额1.20亿元， 融资偿还1.31亿元，融资净买入-1026.31万元。截至2月3日，掌趣科技融资融券余额合计13.25亿元。 责任编辑：小浪快报 截至9月30日，掌趣科技股东户数17.26万，较上期减少12.66%；人均流通股14969股，较上期增加 14.50%。2025年1月-9月，掌趣科技实现营业收入5.34亿元，同比减少17.88%；归母净利润7656.12万 元，同比减少60.93%。 分红方面，掌趣科技A股上市后累计派现2.49亿元。近三年，累计派现0.00元。 机构持仓方面，截止2025年9月30日，掌趣科技十大流通股东中，华夏中证动漫游戏ETF（159869）位 居第一大流通股东，持股7820.74万股，相比上期增加1331.65万股。南方中证1000ETF（512100）位居 第三大流通股东，持股2488.86万股，相比上期减少26.75万股。国泰中证动漫游戏ETF（516010）位居 第四大流通股东，持股2191.95万股，相比上期增加231.13万股。香港中央结算有限公司位居第五大流通 股东，持股 ...

Group 1 - Shunwang Technology increased by over 12% [1] - Xunyou Technology rose by over 7% [1] - Other stocks such as Zhejiang Shuju Culture, Perfect World, Zhangqu Technology, Shenzhou Taiyue, Shengtian Network, and Fuchun Co. also experienced gains [1]

Market Overview - The gaming sector increased by 3.25% on February 3, with Shunwang Technology leading the gains [1] - The Shanghai Composite Index closed at 4067.74, up 1.29%, while the Shenzhen Component Index closed at 14127.1, up 2.19% [1] Individual Stock Performance - Shunwang Technology (300113) closed at 27.88, up 13.80%, with a trading volume of 1.18 million shares and a transaction value of 3.22 billion [1] - Xunyou Technology (300467) closed at 34.39, up 9.56%, with a trading volume of 109,800 shares and a transaction value of 372 million [1] - ZheShu Culture (600633) closed at 16.10, up 6.20%, with a trading volume of 763,500 shares and a transaction value of 1.22 billion [1] - Other notable performers include Yuqu Technology (300315) up 6.09%, Kunlun Wanwei (300418) up 6.02%, and Perfect World (002624) up 5.57% [1] Fund Flow Analysis - The gaming sector experienced a net outflow of 603 million from institutional investors, while retail investors saw a net inflow of 1.03 billion [2] - Major stocks like Shunwang Technology had a net inflow of 159 million from institutional investors, but a net outflow of 91.83 million from speculative funds [3] - Other stocks like Kunlun Wanwei and Xunyou Technology also showed mixed fund flows, with varying levels of net inflows and outflows from different investor types [3] ETF Performance - The Gaming ETF (159869) tracking the China Animation and Gaming Index saw a decline of 1.97% over the past five days, with a current P/E ratio of 41.24 [5] - The Food and Beverage ETF (515170) increased by 2.42% over the past five days, with a P/E ratio of 20.04 [5]

Core Viewpoint - The article discusses the impact of a rumor regarding potential tax rate adjustments on the gaming industry, which led to significant fluctuations in stock prices for major gaming companies like Tencent and NetEase. However, the credibility of the rumor is questioned by industry experts and analysts [2][4][5]. Group 1: Market Reactions - On February 3, gaming stocks experienced a sharp decline, with Tencent dropping over 6% and NetEase falling more than 3% during intraday trading. However, by the end of the day, A-share gaming stocks rebounded, with Century Huatong and Jiubang Technology both rising over 2% [2]. - The gaming index (BK1406) increased by more than 3.4% by the end of the trading day, with several stocks, including Shunwang Technology, seeing significant gains, with a rise of 13.8% [2][3]. Group 2: Tax Rumor Analysis - A rumor suggested that the financial and internet value-added services, including in-game purchases and advertising, might face a tax rate increase from 6% to align with the 32% rate of the liquor industry, which could compress profit margins for companies like Tencent [4]. - Industry insiders have largely dismissed the rumor as lacking credibility, with Century Huatong stating they have not received any related information and that their operations remain normal [5]. - Analysts argue that the proposed tax increase from 6% to 32% is unlikely, as many companies already operate within a tax rate range of 15%-25%, and such a tax adjustment would require extensive legislative processes [5][6]. Group 3: Legal and Policy Considerations - The article highlights that the rumor is based on a misunderstanding of tax classifications, as the 32% rate applies to consumption tax, while the gaming and internet services are subject to value-added tax (VAT) at 6% [8]. - Current tax regulations, as outlined in the VAT law effective from January 1, 2026, specify three tax rates: 13%, 9%, and 6%, with financial and modern services falling under the 6% category [8][10]. - Analysts from Huachuang Securities emphasize that any tax increase would likely be passed on to consumers, contradicting the government's current focus on promoting consumption and economic growth [10].

Core Viewpoint - The article discusses rumors regarding potential tax rate adjustments for the financial and internet value-added services sectors, particularly gaming, which led to a decline in stock prices for major internet companies like Tencent. However, industry insiders have largely dismissed these rumors as unfounded and lacking credibility [1][6][7]. Group 1: Market Reactions - On February 3, market rumors about tax rate adjustments caused a significant drop in the A-share gaming sector, with Century Huatong's stock falling over 9%, and other major gaming stocks like Kaixin Network and Giant Network also experiencing declines [1]. - Despite the initial drop, gaming stocks rebounded later, with Shunwang Technology rising by 14.65% and other companies like Xunyou Technology and Zhejiang Shuju Culture seeing increases of over 5% [1][2]. Group 2: Tax Rate Rumors - The rumors suggested that the gaming tax rate might align with the 32% rate applied to liquor, which is a consumption tax, while gaming services are subject to a value-added tax (VAT) of 6% [6][7]. - Industry experts confirmed that there has been no official communication regarding tax rate changes, and the credibility of the rumors is considered low [6][7]. Group 3: Tax Policy Context - The current VAT law, effective from January 1, 2026, specifies three tax rates: 13%, 9%, and 6%, with financial and modern services, including gaming, falling under the 6% category [7]. - Recent adjustments in tax rates have only affected basic telecommunications services, and any changes to the tax structure would require rigorous legislative or administrative processes [7]. - The prevailing policy focus is on stabilizing growth and supporting innovation, making significant tax increases on key industries unlikely [7].

Core Viewpoint - Company expects a net loss of 90 million to 180 million yuan for 2025, primarily due to the decline in performance of its associate company Webzen Inc. and the need to recognize impairment losses on long-term equity investments [1] Group 1: Financial Performance - The company anticipates a net profit loss of 90 million to 180 million yuan for 2025, with a non-recurring net profit loss projected between 100 million to 200 million yuan [1] - The decline in revenue is attributed to the impact of the product lifecycle on mature game projects and the lack of large-scale launch for newly developed SLG games [1] Group 2: Business Development Strategy - The company has established a dual development strategy of "long-cycle operation of mature products + breakthroughs in emerging tracks," covering various game categories such as SLG, card games, MMO, and mini-games [1] - The company is focusing on a complementary growth pattern of "domestic mini-games + overseas SLG," aligning with domestic lightweight entertainment consumption needs and targeting high-value overseas game markets [2] Group 3: Product Pipeline and Innovation - Currently, the company has three self-developed SLG games and one exclusive agency SLG game undergoing paid testing, with plans for further adjustments based on testing results [2] - The company is integrating AI technology into game development, collaborating with top AI firms to enhance productivity and drive innovation in the gaming industry [2] Group 4: Market Outlook - Industry analysis suggests that the progress of new product launches will be a key driver for the company's performance recovery, despite facing short-term challenges [2] - The company is committed to advancing its gaming business, with a focus on gradually launching more mini-game products in the domestic market and accelerating project development in the overseas SLG sector [2]

Core Viewpoint - Beijing Zhangqu Technology Co., Ltd. (referred to as "Zhangqu Technology") expects a net profit of -90 million to -180 million yuan for the year 2025, primarily due to the decline in performance of its associate company Webzen Inc. leading to the provision for long-term equity investment impairment [1] Group 1: Financial Performance - Zhangqu Technology anticipates a net profit excluding non-recurring gains and losses of -100 million to -200 million yuan for 2025 [1] - The company is entering a critical phase of performance recovery, supported by the acceleration of new product launches and deepening AI industry layout [1] Group 2: Business Development - The company has established a dual-line development pattern of "mature product long-cycle operation + breakthrough in emerging tracks," covering various game categories such as SLG, card games, MMO, and mini-games [1] - Zhangqu Technology has three self-developed SLG games and one exclusive agency SLG game currently undergoing paid testing, with plans for further adjustments based on testing results [2] Group 3: AI Integration - Zhangqu Technology is intensifying its "AI + gaming" strategy by collaborating with top AI companies to integrate AI technology into game development [3] - The launch of the 3D game AIGC development tool "LayaIdea" in partnership with Lanya Box is expected to significantly reduce production costs and development cycles for 3D games [3] - The company’s investment in MiniMax Group Inc., which is set to impact the 2026 net profit by approximately 23.26 million yuan, represents a new growth driver for the company's performance [3]