广发证券：SLG品类游戏景气度提升建议关注三七互娱(002555.SZ)等

智通财经2025-05-06

智通财经APP获悉‌，广发证券发布研报称，SLG类产品生命周期较长，付费稳定，成功的SLG类产品能为公司提供稳定的业绩贡献。从景气度来看，2024年以来，多个融合玩法的SLG产品在海外表现突出。单体产品的规模进一步增长。据Sensor Tower，2024年首次获得10亿流水产品中，《Last War》及《Whiteout Survival》均为SLG品类，体现SLG在海外市场所占据的优势地位。...

网页链接

免责声明：本文观点仅代表作者个人观点，不构成本平台的投资建议，本平台不对文章信息准确性、完整性和及时性做出任何保证，亦不对因使用或信赖文章信息引发的任何损失承担责任。

精彩评论

我们需要你的真知灼见来填补这片空白

发表看法

{"i18n":{"language":"zh_CN"},"isChannel":false,"data":{"share":"https://www.laohu8.com/m/news/2533251459?lang=zh_CN&edition=full","thumbnail":"","is_english":false,"pubTime":"2025-05-06 11:02","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2533251459","market":"hk","top_or_hot":-1,"title":"广发证券：SLG品类游戏景气度提升 建议关注三七互娱(002555.SZ)等","media":"智通财经","content":"<div>\n<p>智通财经APP获悉‌，广发证券发布研报称，SLG类产品生命周期较长，付费稳定，成功的SLG类产品能为公司提供稳定的业绩贡献。从景气度来看，2024年以来，多个融合玩法的SLG产品在海外表现突出。单体产品的规模进一步增长。据Sensor Tower，2024年首次获得10亿流水产品中，《Last War》及《Whiteout Survival》均为SLG品类，体现SLG在海外市场所占据的优势地位。...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1289428.html\">网页链接</a>\n\n</div>\n","source":"stock_zhitongcaijing","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>广发证券：SLG品类游戏景气度提升 建议关注三七互娱(002555.SZ)等</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n广发证券：SLG品类游戏景气度提升 建议关注三七互娱(002555.SZ)等\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-05-06 11:02 北京时间&nbsp;&nbsp;&nbsp;<a href=http://www.zhitongcaijing.com/content/detail/1289428.html><strong>智通财经</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>智通财经APP获悉‌，广发证券发布研报称，SLG类产品生命周期较长，付费稳定，成功的SLG类产品能为公司提供稳定的业绩贡献。从景气度来看，2024年以来，多个融合玩法的SLG产品在海外表现突出。单体产品的规模进一步增长。据Sensor Tower，2024年首次获得10亿流水产品中，《Last War》及《Whiteout Survival》均为SLG品类，体现SLG在海外市场所占据的优势地位。...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1289428.html\">网页链接</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4585","symbol_name":"ETF&股票定投概念","start_time":0,"source_url":"http://www.zhitongcaijing.com/content/detail/1289428.html","article_id":"2533251459","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2533251459","pubTimestamp":1746500541,"columns":[],"sourceInfo":{"source_id":"stock_zhitongcaijing","name":"智通财经网"},"weMediaInfo":null,"summary":"智通财经APP获悉，广发证券发布研报称，SLG类产品生命周期较长，付费稳定，成功的SLG类产品能为公司提供稳定的业绩贡献。该行建议持续关注在SLG领域研发能力突出，且具备优质产品储备的公司。广发证券主要观点如下：2024年以来全球移动游戏市场呈现景气度改善，内购收入有所回升根据Sensor Tower，我国SLG出海产品受益行业变化，景气度有所改善。","collect":0,"end_time":0,"defaultTopTitle":"zhitongcaijing.com","property":[],"viewcount":null,"language":"zh","relate_stocks":{"BK4585":"ETF&股票定投概念","BK1147":"投资银行业与经纪业","BK0196":"行业龙头","002555":"三七互娱","BK0217":"互联网","SG9999001093.SGD":"United Greater China Fund A Acc SGD","BK4223":"办公室房地产信托","BK0108":"虚拟现实","000776":"广发证券","BK0094":"网络游戏","BK0183":"MSCI概念","BK4194":"办公房地产投资信托","LU1969619763.USD":"EASTSPRING INV CHINA A SHARES GROWTH \"A\" (USD) ACC","BK0188":"融资融券","SGXZ81163826.USD":"UNITED CHINA A-SHARES INNOVATION \"A\" (USD) ACC","BK4588":"碎股","BK0012":"证金概念","SGXZ49509284.SGD":"United China A Shares Innovation A Acc SGD","BK0077":"质押式回购","BK0187":"一线龙头","01776":"广发证券","BK1564":"中资券商股","BK0028":"国家队","BK0197":"中小创蓝筹","BK0276":"资本市场","BK0201":"可转债","BK0200":"360概念","BK0175":"白马股","SLG":"SL Green Realty Corp","LU2328871848.SGD":"Eastspring Investments - China A Shares Growth AS SGD","BK0070":"员工持股"},"translate_title":"GF Securities: The prosperity of SLG category games is improving. It is recommended to pay attention to Sanqi Interactive Entertainment (002555. SZ) and others","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SLG":1,"002555":1,"000776":1,"01776":1},"content_text":"智通财经APP获悉‌，广发证券发布研报称，SLG类产品生命周期较长，付费稳定，成功的SLG类产品能为公司提供稳定的业绩贡献。从景气度来看，2024年以来，多个融合玩法的SLG产品在海外表现突出。单体产品的规模进一步增长。据Sensor Tower，2024年首次获得10亿流水产品中，《Last War》及《Whiteout Survival》均为SLG品类，体现SLG在海外市场所占据的优势地位。该行建议持续关注在SLG领域研发能力突出，且具备优质产品储备的公司。建议关注ST华通(002602.SZ)、腾讯控股(00700)、网易-S(09999)、三七互娱(002555.SZ)、恺英网络(002517.SZ)。广发证券主要观点如下：2024年以来全球移动游戏市场呈现景气度改善，内购收入有所回升根据Sensor Tower，我国SLG出海产品受益行业变化，景气度有所改善。2024年，我国自主研发游戏出海规模为185.56亿美元，同比增长13.4%，头部产品中策略类(含SLG)游戏流水占比达到41.38%，按此推算，策略类(含SLG)市场规模约为77亿美元/年。若假设策略类(含SLG)产品市占率稳定，按24年1月-25年2月的流水推算，可以预估我国出海策略类(含SLG)产品的单月流水总规模大约在5-8亿美元区间。产品层面来看，点点互动旗下游戏《Whiteout Survival》表现突出，Sensor Tower数据显示其24年全年流水首次突破10亿美元。玩法融合吸引用户下载，降低买量成本从驱动因素来看，多种玩法融合推动了重度品类游戏的获客，降低了买量成本，提高了产品商业化表现。SLG游戏是一个建造+对战为主要过程的游戏类别，前期主要通过建造构建自有战力，后续通过结盟攻打地方势力获得更多收益，总体的游戏流程较长，对新玩家而言准入门槛高，因此买量难度较大。而轻量级的玩法反馈及时，能迅速的转化用户下载，从而提升买量效率，因此通过更加轻度休闲的玩法获取用户，并通过SLG的重度付费留住用户成为了SLG拓展客户的重要方式。《Kingshot》增长趋势明显，付费潜力较高《Kingshot》通过“塔防”+SLG的玩法提升用户获取效率，前期塔防玩法兼具趣味和数值成长，便于引入用户，并导入数值设计较强的SLG玩法中。从数据来看，产品早期表现与《Whiteout Survival》相近。此外，该行认为两款产品的数值设计类似，因此《Kingshot》具备较高的商业化潜力，若产品增长趋势延续，有望成为点点互动下一个爆款SLG。风险提示：游戏行业监管加强风险，行业竞争加剧风险，产品上线不及预期的风险。","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":1,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.43.1","shortVersion":"4.43.1","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2533251459","isCrawlerRequest":true}

广发证券：SLG品类游戏景气度提升 建议关注三七互娱(002555.SZ)等

精彩评论

广发证券：SLG品类游戏景气度提升建议关注三七互娱(002555.SZ)等