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A股異動丨中文在線一度升停,機構稱“互動影遊”和“微短劇”帶來重大機遇
中文在線(300364.SZ)盤中一度20CM封升停板,報價30.48元,股價創2016年1月以來新高;該股月內累計最大升幅達116%。行業出現新變化,互動視頻遊戲成功出圈,進入用户視野。近期,視頻互動類遊戲《完蛋!我被美女包圍了》上線後就進入Steam中國區下載榜第一名,獲得了遊戲玩家和遊戲消費市場極大的關注度。同時,今年下半年以來,微短劇快速發展,通過買量的形式不斷觸達新用户,處於快速成長的早期。微短劇“內容爽點”密集,帶給用户快速的情緒滿足,內容適合普羅大眾,回報率驗證週期短,製作成本低。華安證券稱,“微短劇”和“互動視頻遊戲”賽道成長的早期,即使產品數量將快速增長,但早期產品仍然會有一定程度的同質化,所以產品的成功與否將很大程度依賴是否有“IP 加持”和“足夠的渠道曝光”。所以,該行判斷,在當前產業機遇下,具有“IP 資源”和“分發渠道”優勢的廠商將最先受益:1)IP側:中文在線具有海量核心文學IP資源(在國內公司的網文IP儲備中,閲文集團第一,中文在線第二);公司社區中網絡原創作者超過450萬名,與全國600餘家版權機構有合作,簽約作者超過2000位。公司龐大的IP資源將成為“微短劇”和“互動視頻遊戲”內容創意的上游源泉。2)渠道側:中文在線旗下的ReelShort微短劇平台自22年8月上線海外後,一直保持增長態勢。公司於23年6月之後加大投放與運營力度,產品收入環比大幅提升,根據Data AI顯示,23年9月該款產品在IOS和Google Play渠道共獲得482.7萬美元月收入。公司海外產品Chapters採用互動式動漫遊戲玩法,吸引了歐美較多女性玩家用户,該產品目前持續穩健運營為公司貢獻海外地區收入。華安證券稱,公司面對“微短劇”和“互動視頻遊戲”的重要產業機遇下,具有深厚的積累。維持“買入”評級。

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