> 数据图表我想了解一下公司间收入与净利润趋势：板块内分化加剧2026-9-3公司间收入与净利润趋势：板块内分化加剧◼ 收入端趋势变化：收入（百万元） 2Q192Q202Q212Q222Q232Q242Q252Q261Q26yoy%qoq%◼ 2Q26收入排名TOP5的公司为：1）世纪华通（qoq+0.9%）；2）三七互娱（qoq-4.5%）；3）恺英网络（qoq+15.9%）；4）巨人网络（qoq+1.4%）；5）吉比特（qoq+1.7%）。CR5（当季前五合计份额）为79.6%，较1Q26同口径的80.9%微降1.3pct，收入集中度基本持平。◼ 收入增速较快的仍是规模本就靠前的头部公司，但从CR5看，收入端的集中度并未继续抬升，真正在抬升的是利润端。◼ 净利润趋势变化：◼ 2Q26归母净利润排名TOP5的公司为：1）世纪华通（qoq+22.1%）；2）巨人网络（qoq-1.5%）；3）三七互娱（qoq+2.3%）；4）恺英网络（qoq-17.0%）；5）吉比特（qoq+10.9%）。CR5为99.2%，较1Q26同口径的90.5%大幅提升8.7pct——但这一跳升的主因并非头部更强，而是尾部转亏：14家中5家单季亏损（完美世界、盛天网络、电魂网络、掌趣科技、冰川网络），合计拖累-4.11亿。◼ 整体看，2Q26实现收入与归母净利润均同环比双升的公司为世纪华通、吉比特、富春股份◼ 头部公司业绩仍在兑现，但板块内部的分层比1Q26更为明显。世纪华通三七互娱恺英网络巨人网络吉比特神州泰岳完美世界冰川网络姚记科技游族网络盛天网络掌趣科技富春股份电魂网络4,762.73,963.83,312.72,930.3 3,026.9 5,014.4 9,062.4 11,106.6 11,010.5 22.6%0.9%2,824.03,645.63,721.14,003.0 3,995.8 4,481.8 4,242.8 3,554.3 3,720.4 -16.2% -4.5%380.8625.6565.0351.3388.8539.7980.61,021.5 1,247.6 1,225.2 2,575.4 2,221.2 110.2% 15.9%530.3469.0483.5935.9730.7938.42,360.2 2,328.5 151.5% 1.4%669.41,269.51,281.3 1,204.6 1,032.4 1,382.2 1,879.5 1,847.436.0%1.7%742.61,024.21,090.1 1,441.5 1,564.5 1,361.2 1,832.8 1,401.034.6% 30.8%1,614.62,569.11,975.61,795.0 2,556.2 1,430.9 1,667.9 1,579.9 1,171.2-5.3%34.9%87.799.3106.2340.8704.1645.7603.1569.3620.8-5.6%-8.3%410.4484.31,013.9888.51,157.9926.8659.5533.3788.9-19.1% -32.4%897.01,305.4822.9479.1371.6366.6328.6342.3354.04.2%-3.3%126.2340.5121.0158.3219.9318.7413.6382.7286.0317.8284.3279.5-10.5%1.7%517.3466.0319.1212.5212.0196.0149.0184.8-24.0% -19.4%107.3104.882.9101.859.598.1113.4102.715.6% 10.4%232.2245.0206.4162.6134.691.892.890.31.0%2.8%净利润（百万元）世纪华通巨人网络三七互娱恺英网络吉比特神州泰岳游族网络姚记科技富春股份冰川网络掌趣科技电魂网络盛天网络完美世界2Q19981.8228.8578.7-41.9252.02Q202Q212Q222Q232Q242Q252Q261Q26yoy%qoq%798.71,865.1276.7434.8506.81,306.5 2,475.4 2,027.389.5% 22.1%210.1253.5228.2418.8365.3429.21,063.9 1,080.4 147.9% -1.5%970.9736.9935.2451.5648.5851.1893.0873.34.9%2.3%20.5128.1379.0434.4382.9431.9647.8780.650.0% -17.0%227.9535.6338.7369.4264.5361.4574.0517.558.8% 10.9%-111.872.7234.3131.776.775.488.48.050.524.344.510.4137.0168.42.96.958.120.9349.3104.3108.6106.213.331.5159.1225.9336.0270.8210.8171.1-22.1% 23.2%-9.098.88.382.655.674.064.0-94.9-12.625.5148.9103.8485.1% 43.5%209.3133.3115.18.6-18.9-19.876.321.2139.8-33.7% -45.4%12.2-73.3%-28.9-69.6147.0-12.9-9.8-108.8%-75.939.372.383.112.919.9-17.854.1-189.5% -133.0%-10.9-36.2-22.6---10.226.9-123.04.5-557.6% -2862.6%534.3656.3-206.6297.2138.6-147.1201.0-221.1102.7-210.0% -315.3%数据来源：Wind，公司公告（巨潮资讯网），中泰证券研究所7中泰证券科技传媒
