广发证券：《异环》有望重塑开放世界体验核心推荐具备二次元产品游戏研发商

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智通财经APP获悉，广发证券发布研报称，根据伽马数据，回顾过去5年的二次元游戏市场，行业有典型的供给创造需求的特征，在重点产品发行的年份，市场规模均有显著增长。《明日方舟：终末地》持续验证二次元开放世界的商业化潜力，当前《异环》测试表现突出，玩家获得更加沉浸的游戏体验，产品上线有望实现突出流水表现，核心推荐具备二次元产品的游戏研发商。首推完美世界(002624.SZ)，关注头部公司腾讯控股(...

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href=http://www.zhitongcaijing.com/content/detail/1403569.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，根据伽马数据，回顾过去5年的二次元游戏市场，行业有典型的供给创造需求的特征，在重点产品发行的年份，市场规模均有显著增长。《明日方舟：终末地》持续验证二次元开放世界的商业化潜力，当前《异环》测试表现突出，玩家获得更加沉浸的游戏体验，产品上线有望实现突出流水表现，核心推荐具备二次元产品的游戏研发商。首推完美世界(002624.SZ)，关注头部公司腾讯控股(...</p>\n\n<a href=\"http://www.zhitongcaijing.com/content/detail/1403569.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":"LU1282651121.HKD","symbol_name":"ALLIANZ GEM EQUITY HIGH DIVIDEND \"AMG\" (HKD) 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Recommend game developers with two-dimensional products","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"HTCD.SI":0.6,"01776":1.5,"000776":1.5,"00700":0.9,"TCHmain":0.6,"09999":0.9},"content_text":"智通财经APP获悉，广发证券发布研报称，根据伽马数据，回顾过去5年的二次元游戏市场，行业有典型的供给创造需求的特征，在重点产品发行的年份，市场规模均有显著增长。《明日方舟：终末地》持续验证二次元开放世界的商业化潜力，当前《异环》测试表现突出，玩家获得更加沉浸的游戏体验，产品上线有望实现突出流水表现，核心推荐具备二次元产品的游戏研发商。首推完美世界(002624.SZ)，关注头部公司腾讯控股(00700)、储备有《无限大》的网易-S(09999)等。广发证券主要观点如下：二次元市场或迎来复苏，《明日方舟：终末地》的成功发行持续验证行业需求根据伽马数据，回顾过去5年的二次元游戏市场，行业有典型的供给创造需求的特征，在重点产品发行的年份，市场规模均有显著增长。根据上海徐汇发布，鹰角网络新作《明日方舟：终末地》开服两周便创下全球全平台累计流水突破12亿元的成绩。其中，在国内市场，PC端流水占比近60%，在海外市场，PC端与PS端合计占比达70%，这表明全球二次元市场仍然具备需求可供挖掘。为什么《异环》有望取得成功？广发证券认为，《异环》核心在于强化玩家主体性。这为二次元开放世界创造了全新体验。具体体现为：在操作上，可选第一人称视角，带来更强的沉浸感；在玩法上，多分支的支线设计让玩家的主动选择能显著改变进程与结局，从而使其从剧情的“阅读者”转变为内容的“推动者”。《异环》关注度较高，具备用户基础，且玩法体验丰富(1)用户基础扎实，市场热度高。据官网数据，游戏预约量已突破2000万；其三测PV在哔哩哔哩的播放量超过700万，反映出产品通过早期宣发积累了扎实的关注度与用户基本盘。(2)相比传统二次元游戏实现玩法创新，玩家主体性显著增强。传统二次元开放世界中，玩家常处于“摄像头”式的客体地位，更多是观看既定内容，而非主动推动进程。《异环》在三测中大幅强化非主线叙事与场景互动，赋予玩家行动更多可能性，使其从“内容体验者”转向“情节推动者”，极大提升了玩家的主体性与代入感。(3)游戏内陪伴体验丰富，角色交互体验升级，从提供“对话选项”到经营“一段关系”，重新定义了二次元游戏中的陪伴体验。根据游戏茶馆评测显示，其交互深度在三测中得到显著加强。游戏将好感度培养作为核心线索，串联起一系列高度拟真的社交行为从牵手、拥抱到邀请同车出行，再到最终让角色入住玩家公寓、成为室友。这套设计让玩家与角色的联结，不再局限于剧情中的瞬间，而是延伸至日常生活的每一个场景。在这种持续的共同生活中，角色被赋予了超越剧本的社交与情感价值，使“陪伴”本身成为一种可生长、可沉浸的核心玩法。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":"0","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":"4.42.0","shortVersion":"4.42.0","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/2610613817","isCrawlerRequest":true}

广发证券：《异环》有望重塑开放世界体验 核心推荐具备二次元产品游戏研发商

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广发证券：《异环》有望重塑开放世界体验核心推荐具备二次元产品游戏研发商