September Game License Approvals Announced!
On the evening of September 24, Beijing Dalong Weiye Real Estate Development Co.,Ltd. (600159) announced that to supplement the company's project reserves, its controlling subsidiary Beijing Dalong Real Estate Development Co., Ltd. has reached a preliminary agreement with Beijing Shunyi New City Development Co., Ltd. to acquire a 60% stake in Beijing Chengzhu Real Estate Development Co., Ltd.
According to available information, the target company was established in March 2025 with a registered capital of 600 million yuan. Its business scope includes real estate development and operations. In terms of equity structure, Beijing Shunyi New City Development Co., Ltd. holds 99% of the shares, while Beijing Tianzhu Real Estate Development Co., Ltd. holds 1%. Beijing Dalong Weiye Real Estate Development Co.,Ltd. stated that the target company has been established for a relatively short time and its production and business activities are currently in the real estate project development and construction phase. As of the announcement date, the target company's production and business activities have not yet generated operating revenue.
September Game License Approvals Released!
On September 24, the National Press and Publication Administration announced the gaming approval information for September 2025, with a total of 145 domestic online games receiving approval. Among these, 93 were mobile games, 42 were mobile casual puzzle games, 7 were mobile and PC games, 2 were PC games, and 1 was a mobile and web game.
Eleven imported online games received approval in September, including 6 mobile games, 3 mobile and PC games, and 2 multi-platform games.
Listed companies and their related products mainly include: A-share listed Glacier Network's "Point Soldiers and Deploy Troops," Giant Network's "Hot Blood Dynasty: Basketball," 37 Interactive Entertainment's "Endless Night," and KaiYing Network's "Black Cat Sheriff: Guardian," among others.
As of September, the National Press and Publication Administration has cumulatively issued 1,275 game licenses (including domestic and imported online games) in 2025, maintaining a monthly issuance frequency with the number of licenses remaining at high levels. Previously, research reports indicated that the normalized issuance of game licenses reflects the continuous increase in regulatory policy support for the gaming industry's development.
These Gaming Stocks Received Significant Net Financing Inflows in September
Data analysis of gaming stocks with the highest net financing inflows in September (as of September 23) shows that three stocks had net financing inflows exceeding 100 million yuan: Kunlun Tech, 37 Interactive Entertainment, and Giant Network, with corresponding amounts of 760 million yuan, 544 million yuan, and 153 million yuan, respectively.
Kunlun Tech achieved revenue of 3.733 billion yuan in the first half of the year, a year-on-year increase of 49.23%, with the company's AI gaming products continuing to be optimized. Kunlun Tech stated that in social entertainment scenarios, the company will promote innovation in global user content consumption experiences through richer creative tools, more intelligent distribution systems, and more diverse interactive modes.
37 Interactive Entertainment's "Endless Night" received approval in September. In the first half of the year, the company achieved revenue of 8.486 billion yuan, down 8.08% year-on-year, while net profit attributable to shareholders reached 1.4 billion yuan, up 10.72% year-on-year. During recent institutional research activities, 37 Interactive Entertainment revealed that the company has multiple premium titles in reserve, including "Code MLK," "Code XSSLG," "Code GMSLG," "The Husband," "Code Battle Through the Heavens," and "Douluo Continent: Zero." The company is actively advancing the launch schedule of its reserve products, expecting to bring more diversified gaming experiences to players.
From the perspective of first-half net profit scale, ST Huatong, 37 Interactive Entertainment, KaiYing Network, Giant Network, and G-bits ranked at the top, with net profits of 2.656 billion yuan, 1.4 billion yuan, 950 million yuan, 777 million yuan, and 645 million yuan, respectively.
KaiYing Network's September-approved "Black Cat Sheriff: Guardian" is an idle RPG mobile game adapted from the classic domestic animation "Black Cat Sheriff." In the first half of the year, the company's overseas revenue was approximately 202 million yuan, up 59.57% year-on-year, mainly due to strong overseas market performance of games such as "Monster Super League," "MU Immortal," "Party Animals," and "Super Shrimp Showdown."
From the perspective of first-half net profit changes, among the aforementioned stocks, Shengtian Network Technology, Yoozoo Games, Zhejiang Digital Culture, and ST Huatong had net profit growth rates of 1186.02%, 989.31%, 156.26%, and 129.33%, respectively. Perfect World, Glacier Network, and Star Group achieved turnarounds from losses to profits.
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