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游戏行业研究框架:出海打开全球视野,AI 重塑内容生态-国泰海通

  • 2026-07-12 11:42:30
游戏行业研究框架:出海打开全球视野,AI 重塑内容生态-国泰海通
这份国泰海通 2026 年 6 月游戏行业研报给予行业 “增持” 评级，围绕产业链、行业指标、公司研究、两大核心趋势展开分析。产业链以研发发行为核心，谷歌、苹果下调渠道抽成利好厂商盈利。政策持续转暖，多地出台扶持政策，版号发放常态化；国内游戏市场增长靠 ARPU 驱动，2025 年行业营收、出海收入均稳步提升。企业研究以产品为核心，跟踪储备、榜单、合同负债等指标。两大增长主线：AI 全链路降本增效，催生新玩法；游戏出海空间广阔，国内厂商品类布局持续多元化。

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  1. CONNECT:[ UseTime:0.000459s ] mysql:host=127.0.0.1;port=3306;dbname=e_15386;charset=utf8mb4
  2. SHOW FULL COLUMNS FROM `fenlei` [ RunTime:0.000864s ]
  3. SELECT * FROM `fenlei` WHERE `fid` = 0 [ RunTime:0.000300s ]
  4. SELECT * FROM `fenlei` WHERE `fid` = 63 [ RunTime:0.000310s ]
  5. SHOW FULL COLUMNS FROM `set` [ RunTime:0.000462s ]
  6. SELECT * FROM `set` [ RunTime:0.000235s ]
  7. SHOW FULL COLUMNS FROM `article` [ RunTime:0.000623s ]
  8. SELECT * FROM `article` WHERE `id` = 459430 LIMIT 1 [ RunTime:0.000422s ]
  9. UPDATE `article` SET `lasttime` = 1783910758 WHERE `id` = 459430 [ RunTime:0.021590s ]
  10. SELECT * FROM `fenlei` WHERE `id` = 65 LIMIT 1 [ RunTime:0.000370s ]
  11. SELECT * FROM `article` WHERE `id` < 459430 ORDER BY `id` DESC LIMIT 1 [ RunTime:0.001275s ]
  12. SELECT * FROM `article` WHERE `id` > 459430 ORDER BY `id` ASC LIMIT 1 [ RunTime:0.000573s ]
  13. SELECT * FROM `article` WHERE `id` < 459430 ORDER BY `id` DESC LIMIT 10 [ RunTime:0.002685s ]
  14. SELECT * FROM `article` WHERE `id` < 459430 ORDER BY `id` DESC LIMIT 10,10 [ RunTime:0.002160s ]
  15. SELECT * FROM `article` WHERE `id` < 459430 ORDER BY `id` DESC LIMIT 20,10 [ RunTime:0.002135s ]
0.105928s