<p><strong>育碧的股票在确认中国科技巨头腾讯宣布对该公司新成立的游戏子公司 Vantage Studios 投资 13 亿美元后，飙升了 15%。</strong></p>
<p>这笔交易对这家法国游戏巨头来说是一个重大利好，其热门系列包括《刺客信条》、《孤岛惊魂》和《汤姆·克兰西的彩虹六号》。这笔资金注入将帮助育碧偿还债务并增强其资产负债表，同时为 Vantage Studios 提供所需资源，使其发展成为育碧最有价值的系列之一。</p>
<p>对 Vantage Studios 的投资使该公司的投资前企业价值达到 38 亿欧元，腾讯因此获得了该公司 26% 的经济权益。Vantage Studios 作为育碧最高知名系列的专门实体，将 reportedly 给予团队更多的创作自由，并加快决策过程。</p>
<p>该工作室于 2025 年 10 月 1 日正式成立，由联合首席执行官 Charlie Guillemot 和 Christophe Derennes 领导，并设有一个董事会级别的顾问委员会。腾讯必须至少持有其股份五年，而育碧必须在至少两年内保持控股权。该交易还包括允许公司在所有权变更时回购股份或强制出售股份的条款，从而为双方提供稳定性。</p>
<h3>育碧增强财务状况并重组运营</h3>
<p>凭借腾讯对育碧投资的 13 亿美元，该公司现在可以提前偿还当前贷款并降低债务水平——分析师表示，这一策略将使育碧的财务状况更加稳定。</p>
<p>这家法国游戏公司在最近几个月面临压力，因为审计师迫使其根据国际会计准则重新报告收入，使育碧暂时违反了贷款协议。腾讯最近的融资专门解决了这一问题，这对投资者情绪和流动性造成了严重影响。</p>
<p>与此同时，出版商正在继续推进其 “创意工作室” 运营模式，计划降低成本并加快游戏开发过程。这一结构旨在通过赋予各个创意团队更大的自主权，从项目的构思到执行，来实现更灵活的决策和有针对性的创新。</p>
<p>新的 Vantage Studios 作为腾讯的子公司，将引领这一变革，并主导育碧表现最好的系列。</p>
<p>在调整业务的同时，育碧计划到 2026-27 财年实现 1 亿欧元的固定成本削减，主要通过简化流程和更灵活的资源配置。该公司表示，这将使他们能够评估其热门知识产权的潜力，并在游戏开发、营销和全球分销方面进行有针对性的投资。</p>
<h3>投资者因腾讯交易提升育碧的增长前景而欢欣鼓舞</h3>
<p>投资者欢迎这一消息，认为这是公司财务状况稳定的信号，正值对债务和收入重述的担忧加剧之际。分析师表示，通过与腾讯建立 Vantage Studios，育碧可以随着时间的推移提高其知识产权的价值，更好地实现和利用其热门系列的创意力量。</p>
<p>市场也对这笔交易表示赞赏，因为它提供了战略清晰度。金融分析师认为，这可能会在竞争激烈的全球游戏行业中带来更好的系列表现和盈利能力。</p>
<p>与此同时，腾讯在欧洲游戏市场建立了战略立足点。通过投资 Vantage，这家中国科技巨头在参与育碧一些最大知识产权的同时，获得了对其长期盈利机会的影响力。</p>
<p>根据行业分析师的说法，这一合作关系涉及从财务风险到创意合作的方方面面，与其在游戏和数字娱乐行业的整体全球扩张战略相辅相成。</p>
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育碧(ADR)

<p>腾讯投资 13 亿美元收购育碧旗下 Vantage Studios 的 26% 股份，增强了育碧的财务状况和战略运营。这项投资帮助育碧偿还债务并重组运营，而 Vantage Studios 则专注于旗舰系列。该交易稳定了育碧的财务基础，提升了其增长前景，投资者对此反应积极。腾讯在欧洲游戏市场获得了战略立足点，与其全球扩张战略相一致</p>

<p><strong>Shares of Ubisoft surged as much as 15% following confirmation that Chinese tech giant Tencent announced a $1.3 billion investment in the company’s newly formed gaming subdivision, Vantage Studios.</strong></p>
<div class="lb-trans"><p><strong>育碧的股票在确认中国科技巨头腾讯宣布对该公司新成立的游戏子公司 Vantage Studios 投资 13 亿美元后，飙升了 15%。</strong></p>
</div><p>The deal represents a major boost for the French gaming giant, whose blockbuster franchises include Assassin’s Creed, Far Cry, and Tom Clancy’s Rainbow Six. The cash injection will support Ubisoft in paying down debt and bolstering its balance sheet, while providing Vantage Studios with the resources it needs to develop into Ubisoft’s most valuable franchises.</p>
<div class="lb-trans"><p>这笔交易对这家法国游戏巨头来说是一个重大利好，其热门系列包括《刺客信条》、《孤岛惊魂》和《汤姆·克兰西的彩虹六号》。这笔资金注入将帮助育碧偿还债务并增强其资产负债表，同时为 Vantage Studios 提供所需资源，使其发展成为育碧最有价值的系列之一。</p>
</div><p>The investment in Vantage Studios values the company at a pre-money enterprise value of €3.8 billion, giving Tencent a 26% economic interest in the company. Set up as a dedicated entity for Ubisoft’s highest-profile franchises, Vantage Studios will reportedly give teams more creative latitude and expedite decision-making.</p>
<div class="lb-trans"><p>对 Vantage Studios 的投资使该公司的投资前企业价值达到 38 亿欧元，腾讯因此获得了该公司 26% 的经济权益。Vantage Studios 作为育碧最高知名系列的专门实体，将 reportedly 给予团队更多的创作自由，并加快决策过程。</p>
</div><p>The studio opened its doors on October 1, 2025, with co-CEOs Charlie Guillemot and Christophe Derennes, along with a board-level advisory committee. Tencent must hold onto its shares for at least five years, and Ubisoft must maintain a majority of control for at least two years. The deal also includes provisions that allow the companies to repurchase shares or force the sale of shares in the event of ownership changes, thereby providing stability for both parties.</p>
<div class="lb-trans"><p>该工作室于 2025 年 10 月 1 日正式成立，由联合首席执行官 Charlie Guillemot 和 Christophe Derennes 领导，并设有一个董事会级别的顾问委员会。腾讯必须至少持有其股份五年，而育碧必须在至少两年内保持控股权。该交易还包括允许公司在所有权变更时回购股份或强制出售股份的条款，从而为双方提供稳定性。</p>
</div><h3>Ubisoft boosts finances andreorganizes operations</h3>
<div class="lb-trans"><h3>育碧增强财务状况并重组运营</h3>
</div><p>With the $1.3 billion that Tencent has invested in Ubisoft, the company can now pay off its current loans early and reduce its level of debt—a strategy that analysts say will make Ubisoft’s finances more stable.</p>
<div class="lb-trans"><p>凭借腾讯对育碧投资的 13 亿美元，该公司现在可以提前偿还当前贷款并降低债务水平——分析师表示，这一策略将使育碧的财务状况更加稳定。</p>
</div><p>The French gaming company has been under pressure in recent months after an auditor forced it to restate revenue according to international accounting standards, making Ubisoft temporarily in violation of a loan agreement. The recent financing by Tencent specifically addresses this latter issue, which was badly hurting investor sentiment and liquidity.</p>
<div class="lb-trans"><p>这家法国游戏公司在最近几个月面临压力，因为审计师迫使其根据国际会计准则重新报告收入，使育碧暂时违反了贷款协议。腾讯最近的融资专门解决了这一问题，这对投资者情绪和流动性造成了严重影响。</p>
</div><p>At the same time, the publisher is continuing work on its “Creative Houses” operating model, in which it plans to reduce costs and accelerate the game’s development process. This structure is designed to enable more nimble decisions and targeted innovation by granting individual creative teams greater autonomy over a project’s fate, from inception through execution.</p>
<div class="lb-trans"><p>与此同时，出版商正在继续推进其 “创意工作室” 运营模式，计划降低成本并加快游戏开发过程。这一结构旨在通过赋予各个创意团队更大的自主权，从项目的构思到执行，来实现更灵活的决策和有针对性的创新。</p>
</div><p>The new Vantage Studios, a subsidiary of Tencent, will spearhead this change and lead Ubisoft’s top-performing franchises.</p>
<div class="lb-trans"><p>新的 Vantage Studios 作为腾讯的子公司，将引领这一变革，并主导育碧表现最好的系列。</p>
</div><p>As it shapes up its business, Ubisoft is targeting €100 million in fixed cost reductions by fiscal 2026–27, primarily through simplified processes and more flexible resource allocation. The company says that this will enable them to gauge the potential of their smash-hit IPs, making targeted investments in game development, marketing, and global distribution.</p>
<div class="lb-trans"><p>在调整业务的同时，育碧计划到 2026-27 财年实现 1 亿欧元的固定成本削减，主要通过简化流程和更灵活的资源配置。该公司表示，这将使他们能够评估其热门知识产权的潜力，并在游戏开发、营销和全球分销方面进行有针对性的投资。</p>
</div><h3>Investors rally as Tencent deal boosts Ubisoft’s growth prospects</h3>
<div class="lb-trans"><h3>投资者因腾讯交易提升育碧的增长前景而欢欣鼓舞</h3>
</div><p>Investors welcomed the news as a signal that the company’s financial footing is steadying, occurring amid mounting concerns over debt and revenue restatements. By establishing Vantage Studios with Tencent, analysts said Ubisoft could increase the value of its intellectual properties over time and better monetize and leverage the creative power of its blockbuster franchises.</p>
<div class="lb-trans"><p>投资者欢迎这一消息，认为这是公司财务状况稳定的信号，正值对债务和收入重述的担忧加剧之际。分析师表示，通过与腾讯建立 Vantage Studios，育碧可以随着时间的推移提高其知识产权的价值，更好地实现和利用其热门系列的创意力量。</p>
</div><p>The market also liked the deal, as it provided strategic clarity. Financial analysts believe it may pay off with improved franchise performance and profitability in a competitive global gaming industry.</p>
<div class="lb-trans"><p>市场也对这笔交易表示赞赏，因为它提供了战略清晰度。金融分析师认为，这可能会在竞争激烈的全球游戏行业中带来更好的系列表现和盈利能力。</p>
</div><p>Tencent, meanwhile, plants a strategic foothold in Europe’s gaming market. By investing in Vantage, the Chinese tech giant gains influence over some of Ubisoft’s biggest IPs as it participates in their growing long-term monetization opportunity.</p>
<div class="lb-trans"><p>与此同时，腾讯在欧洲游戏市场建立了战略立足点。通过投资 Vantage，这家中国科技巨头在参与育碧一些最大知识产权的同时，获得了对其长期盈利机会的影响力。</p>
</div><p>The partnership is geared toward everything, from financial exposure to creative partnerships, according to industry analysts, dovetailing with its overall global expansion strategy for the game and digital entertainment industry.</p>
<div class="lb-trans"><p>根据行业分析师的说法，这一合作关系涉及从财务风险到创意合作的方方面面，与其在游戏和数字娱乐行业的整体全球扩张战略相辅相成。</p>
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Tencent gives Ubisoft $1.3B boost in Vantage Studios acquisition

腾讯在收购 Vantage Studios 的过程中为育碧提供了 13 亿美元的支持