中经记者 李哲 北京报道 受部分老游戏流水下滑、新游戏上线后推广效果不及预期拖累，电魂网络（603258.SH）预计上半年业 绩由盈转亏。 近日，电魂网络披露的业绩预告显示，其预计上半年净利润亏损750万至1100万元。《中国经营报》记 者注意到，这是自2016年上市以来，电魂网络首次在半年报期间出现亏损。 事实上，近年来电魂网络的营业收入及净利润长期处于下滑态势。这与其主营游戏作品《梦三国》系列 端游的经营业绩表现不佳息息相关。这一系列端游作品的最初版本《梦三国》于2009年上线，随后2015 年《梦三国2》上线。2024年财报显示，《梦三国》系列端游在电魂网络的营收占比达65.27%。 上半年业绩预亏 根据电魂网络披露的业绩预告，其上半年预计实现归属于母公司所有者的净利润为-1100万元至-750.00 万元；预计归属于母公司所有者的扣除非经常性损益后的净利润-1800万元至-1200万元。而在2024年上 半年，电魂网络的净利润为5930.69万元。 对于上述业绩表现，记者联系电魂网络方面采访，截至发稿未获回应。 此前，在2020年，电魂网络旗下核心游戏作品《梦三国2》突破历史最高充值纪录，并于2021 ...

Core Viewpoint - The gaming industry in China is experiencing a significant recovery in the first half of the year, as evidenced by the performance forecasts of several A-share gaming companies, with many reporting substantial profit growth or turning losses into profits [1][2]. Financial Performance - ST华通 (Century Huatong) is expected to achieve a net profit of 2.4 billion to 3 billion yuan, representing a growth of 107.20% to 158.00% [2] - 浙数文化 (ZheShu Culture) anticipates a net profit of 330 million to 390 million yuan, with a growth of 124% to 165% [2] - 游族网络 (Youzu Network) forecasts a net profit of 40 million to 60 million yuan, marking an increase of 768.75% to 1203.13% [2] - 完美世界 (Perfect World) and 冰川网络 (Icefire Network) are expected to turn losses into profits, with 完美世界 projecting a profit of 480 million to 520 million yuan [2][6] - ST凯文 (ST Kevin) expects to maintain a loss level similar to last year, with a projected loss of 65 million to 48 million yuan [2] - 电魂网络 (Dianhun Network) anticipates a loss of 11 million to 7.5 million yuan, indicating a shift from profit to loss [2] Cost Control as a Key Factor - Cost control has emerged as a critical factor for gaming companies to avoid losses, with companies like 完美世界 and 冰川网络 attributing their turnaround to reduced investment in underperforming projects [1][4] - High distribution costs have made it challenging for gaming companies to maintain profitability [2][3] Market Environment - The number of game licenses issued in the first half of the year has significantly increased compared to last year, with the domestic mobile game market growing by 20% year-on-year [1][7] - The gaming market is characterized by intense competition, with a focus on product quality as a determinant of success [1][8] Long-term Products and New Releases - Long-standing products are crucial for the stability of gaming companies, providing a solid revenue base amid market growth [7] - New blockbuster games remain essential for driving rapid revenue growth, as seen with ST华通's new release, which has performed exceptionally well in the market [9][10] Industry Trends - The gaming industry is witnessing a recovery in market sentiment, with a notable increase in the issuance of domestic game licenses and the integration of AI technology enhancing operational efficiency [8] - The upcoming release of major titles from leading companies is expected to intensify market competition [10]

Core Viewpoint - The recent public fund reports reveal that high-performing funds have achieved impressive returns by focusing on sectors like innovative pharmaceuticals and new consumption, while also highlighting a trend towards thematic funds targeting niche markets [1][2][5]. Fund Performance and Holdings - High-performing funds have seen significant returns, with the Changcheng Pharmaceutical Industry Fund achieving a return rate of 102.52% this year, driven primarily by its focus on innovative pharmaceuticals [2]. - Many top-performing funds in the first half of the year are pharmaceutical-themed, including Zhongyin Hong Kong Stock Connect Pharmaceutical and Huashan Pharmaceutical Biotechnology [2][3]. - The top holdings of several funds have shifted towards technology and pharmaceuticals, with notable new additions like Zhongji Xuchuang and Xin Yisheng in the top ten holdings of the China Europe Digital Economy Mixed Fund [3]. Thematic Funds and Sector Focus - Some actively managed funds have undergone significant portfolio changes, with a complete overhaul of their top holdings to focus on emerging sectors like robotics and short dramas [4]. - The Tongtai Industry Upgrade Mixed Fund increased its stock position from 30% to 90% and shifted its focus to robotics, while the Tongtai Huile Mixed Fund transitioned to short drama and gaming stocks [4]. - Fund companies are launching numerous thematic products targeting specific high-growth sectors, such as controllable nuclear fusion and deep-sea technology, indicating a trend towards specialized investment strategies [5]. Market Outlook - Fund managers maintain a positive outlook for the equity market in the third quarter, with confidence in the performance of related sectors [6]. - The Changcheng Pharmaceutical Industry Fund manager anticipates growth in innovative pharmaceuticals driven by overseas licensing and domestic sales, while the Tongtai Industry Upgrade Fund manager expects significant opportunities in the robotics sector due to increased production and technological advancements [6].

Core Insights - The company, Dianhun Network, reported a significant decline in revenue and net profit for the year 2024, with total revenue of 550 million yuan, down 18.71% year-on-year, and a net profit of 30.58 million yuan, down 46.20%, marking the fourth consecutive year of declining net profit [1][9]. Revenue Breakdown - The majority of the company's revenue, 96.75%, comes from games, with client and mobile games contributing significantly [3]. - Client games generated revenue of 370 million yuan, a decrease of 15.88% compared to the previous year, while mobile games earned 162 million yuan, down 20.69% [5]. Cost Analysis - The cost of overseas mobile games increased by 49.33% year-on-year, primarily due to rising costs associated with new game licensing and operational expenses [5]. - The revenue from the agency model saw a drastic decline of 56.88% [5]. Profitability Metrics - The gross profit margin for the network gaming segment was reported at 71.86%, reflecting a decrease of 7.69% compared to the previous year [7]. - The gross profit margin for client games was 83.26%, down 2.85%, while mobile games had a margin of 45.89%, down 19.55% [7]. Regional Performance - Domestic revenue accounted for 493 million yuan, down 16.88%, while overseas revenue was 39 million yuan, down 23.55% [7]. Sales Model Performance - Revenue from self-operated models was 384 million yuan, down 20.34%, while revenue from agency models plummeted by 56.88% [7]. Key Product Insights - The "Dream Three Kingdoms" series remains a cornerstone for the company, contributing 65.27% of total revenue, but is now facing a decline in paying users after over a decade of operation [8]. - The new game "Barbarian Battle 2" launched on May 28, 2025, achieved a ranking of 8th in the free game category on the App Store on its launch day [9]. Recent Financial Performance - In the first quarter of 2025, the company reported total revenue of 10.2 million yuan, down 25.65%, and a net profit of 1.61 million yuan, down 96.53%, nearing the brink of loss [9].

15年《梦三国》老去，创始人套现8.5亿，实控人还要继续减持2%。 | 作者 | | 白猫 | | --- | --- | --- | | 编辑 | | 小白 | 今年以来，游戏版号发放数量不断创新高，游戏审批速度也有所加快。 6月24日晚，国家新闻出版署下发年内第6批游戏版号，国产版号147个、进口版号11个。 消息未至，资金先行，当天游戏板块全线拉升，多只游戏股上涨，其中冰川网络（300533.SZ）涨 停，电魂网络（603258.SH）等涨幅居前。 这两家公司均于2016年上市，其中电魂网络凭借《梦三国》系列的成功成为国内首家A股主板上市的 游戏公司。 根据网络，2009年《梦三国》上线时，在网吧被Dota、CS、War3割据的年代，以国风三国为题材的 竞技网游打破了网吧竞技游戏三分天下的格局，一度成为那个时代年轻人的第一款"MOBA"，火爆程 度可想而知！ 风云君手脚并用算了一下，这个时候秀外慧中、年少有为的我还在玩QQ农场的偷菜游戏。 然而，IP老化是游戏业的常态考验。冰川网络曾因IP老化、产品青黄不接，业绩被透支得渣都不剩。 那么，还有多少人玩梦三国呢？电魂网络给出的是惊喜还是惊吓？ 单一IP依赖 ...

证券代码：603258 证券简称：电魂网络 公告编号：2025-022 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担个别及连带责任。 预计2025年半年度实现归属于母公司所有者的扣除非经常性损益后的净利润-1,800.00万元到-1,200.00万 元。 二、上年同期经营业绩和财务状况 重要内容提示： ● 本期业绩预告适用净利润为负值的情形。 ● 杭州电魂网络科技股份有限公司（以下简称"公司"）预计2025年半年度实现归属于母公司所有者的净 利润-1,100.00万元到-750.00万元，与上年同期（法定披露数据）相比，将出现亏损。预计2025年半年度 实现归属于母公司所有者的扣除非经常性损益后的净利润-1,800.00万元到-1,200.00万元。 一、本期业绩预告情况 （一）业绩预告期间 2025年1月1日至2025年6月30日。 （二）业绩预告情况 经财务部门初步测算，预计2025年半年度实现归属于母公司所有者的净利润-1,100.00万元到-750.00万 元，与上年同期（法定披露数据）相比，将出现亏损。 五、其他说明事项 以 ...

（二）业绩预告情况 重要内容提示： ? 本期业绩预告适用净利润为负值的情形。 ? 杭州电魂网络科技股份有限公司（以下简称"公司"）预计 2025 年半年度 实现归属于母公司所有者的净利润-1,100.00 万元到-750.00 万元，与上年同期（法 定披露数据）相比，将出现亏损。预计 2025 年半年度实现归属于母公司所有者的扣 除非经常性损益后的净利润-1,800.00 万元到-1,200.00 万元。 一、本期业绩预告情况 （一）业绩预告期间 证券代码：603258 证券简称：电魂网络 公告编号：2025-022 杭州电魂网络科技股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 本次预计业绩是公司基于自身专业判断进行的初步估算，未经注册会计师审计。 公司尚未发现影响本次业绩预告内容准确性的重大不确定性因素。 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利润 -1,100.00 万元到-750.00 万元，与上年同期（法定披露数据）相比，将出现亏损。 预计 2025 年半年度实现归 ...

杭州电魂网络科技股份有限公司（以下简称"公司"）预计 2025 年半年度 实现归属于母公司所有者的净利润-1,100.00 万元到-750.00 万元，与上年同期（法 定披露数据）相比，将出现亏损。预计 2025 年半年度实现归属于母公司所有者的扣 除非经常性损益后的净利润-1,800.00 万元到-1,200.00 万元。 证券代码：603258 证券简称：电魂网络 公告编号：2025-022 杭州电魂网络科技股份有限公司 2025 年半年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： 本期业绩预告适用净利润为负值的情形。 三、本期业绩预减的主要原因 （一）主营业务影响。主要是本报告期公司的部分老游戏营收同比下降，同时 部分新游戏上线后推广效果不及预期。 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 6 月 30 日。 （二）业绩预告情况 经财务部门初步测算，预计 2025 年半年度实现归属于母公司所有者的净利润 -1,100.00 万元到-750. ...

Core Viewpoint - The legal opinion letter from Zhejiang Jingheng Law Firm confirms that Hangzhou Dihun Network Technology Co., Ltd. has complied with necessary legal procedures for the repurchase and cancellation of part of its restricted stock under the 2024 incentive plan [1][7][9]. Group 1: Approval and Authorization - On March 27, 2024, the company held its fourth board meeting, approving the 2024 restricted stock incentive plan and related proposals [3][4]. - On April 25, 2024, the company convened its annual shareholders' meeting, which also approved the incentive plan and authorized the board to handle matters related to the repurchase and cancellation of restricted stocks [4][5]. Group 2: Repurchase and Cancellation Details - The company plans to repurchase and cancel a total of 516,650 shares of restricted stock due to various reasons, including the departure of 4 individuals and performance-related failures of 19 individuals [5][6][9]. - The breakdown of the repurchased shares includes 69,500 shares from departed employees, 387,150 shares from those who did not meet performance criteria, and 60,000 shares from reserved grants [6][8]. Group 3: Compliance and Future Actions - The legal opinion asserts that the repurchase and cancellation process adheres to the relevant laws and regulations, including the Company Law and Securities Law [7][9]. - The company has established a dedicated securities account for the repurchase and plans to complete the cancellation by July 1, 2025, along with necessary capital reduction registration [9].

证券代码：603258 证券简称：电魂网络 公告编号：2025-021 杭州电魂网络科技股份有限公司 上的《关于回购注销 2024 年限制性股票激励计划部分限制性股票的公告》（公告编 号：2025-009）。 《关 于回购注销部分限制性股票通知债权人的公告》（公告编号：2025-010），至今公示 期已满 45 天，公示期间公司未收到任何债权人对此议案提出异议的情况，也未收 到任何公司债权人向公司提出清偿债务或者提供相应担保的要求。 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连带责任。 重要内容提示： ? 回购注销原因：回购股权激励限制性股票并注销 一、本次限制性股票回购注销的决策与信息披露 杭州电魂网络科技股份有限公司（以下简称"公司"）于 2025 年 4 月 24 日召 开第五届董事会第四次会议审议通过《关于回购注销 2024 年限制性股票激励计划部 分限制性股票的议案》。鉴于公司 2024 年限制性股票激励计划（以下简称"《激励 计划（草案）》"或"本激励计划"）首次授予的 4 名激励对象因离职不再具备激 励资格，公司 ...