Core Viewpoint - The resignation of Guo Weiwei as CEO of Xishanju is a significant event, reflecting both personal career choices and the company's urgent need for strategic realignment amid declining performance in its flagship game, "Jian Wang 3" [1][2][7]. Group 1: Leadership Change - Guo Weiwei has served as CEO of Xishanju for nearly 8 years and will return to his role as Chief Producer, focusing on the development of the "Jian Wang 3" IP [1][3]. - Zou Tao, the Senior Vice President of Kingsoft Group, will act as the interim CEO, indicating a shift in management strategy [1][12]. Group 2: Financial Performance - Kingsoft's Q3 2025 financial report revealed a 47% year-on-year decline in revenue from Xishanju, primarily due to decreased income from "Jian Wang 3" and the underperformance of new titles [2][5]. - The revenue contribution from Xishanju dropped from 50% to 37% year-on-year, highlighting the urgent need for new successful products [2]. Group 3: Product Development Challenges - Xishanju's reliance on "Jian Wang 3" has become a liability, as the game shows signs of fatigue after 16 years of operation, with user growth and monetization potential nearing saturation [5][6]. - New titles like "Jian Wang 3 Wujie" and "Chen Bai Jin Qu" have failed to meet expectations, with the latter experiencing a significant drop in popularity and revenue [6][10]. Group 4: Strategic Misalignment - The company has struggled with strategic direction and execution, attempting to diversify its product lineup without achieving significant success [8][9]. - Xishanju's slow development cycle and reliance on outdated operational models have hindered its ability to compete in a rapidly changing market [9][10]. Group 5: Future Outlook - The transition of Guo Weiwei back to a production role is seen as a necessary step, but the company must also cultivate a broader talent pool to avoid over-reliance on individual stars [13][15]. - The new interim CEO, Zou Tao, faces the challenge of stabilizing the company while implementing necessary organizational changes to foster innovation and product development [12][16].

Core Viewpoint - The resignation of CEO Guo Weiwei from Xishanju may indicate the need for a "shock therapy" approach for the game "Jiexianji," which has not met expectations since its launch [5][8]. Group 1: Leadership Changes - Guo Weiwei has resigned as CEO of Xishanju for personal career planning reasons but will continue as Chief Producer [2]. - Zou Tao, CEO of Kingsoft, will take over as acting CEO, with Guo reporting directly to him [2]. Group 2: Game Performance - "Jiexianji" was launched after ten years of development but has not achieved the anticipated success, with peak daily active users (DAU) dropping significantly from 310,000 during testing to an estimated 20,000 post-launch [5][6]. - The game was expected to create a new market segment, but its niche mech theme has limited its audience, making it a challenging category to succeed in [6][7]. Group 3: Development Challenges - The game’s design and marketing strategies may have been misaligned with player expectations, leading to poor reception and player retention issues [7][8]. - The focus on competitive play without sufficient single-player content has contributed to player dissatisfaction, as many potential users prefer a more balanced gameplay experience [7]. Group 4: Future Directions - To recover from its current state, "Jiexianji" may need to undergo a significant overhaul, similar to the "shock therapy" approach taken by other games like "No Man's Sky," which involved pausing the project and making substantial adjustments based on user feedback [8].

Core Insights - The CEO of Xishanju, Guo Weiwei, has resigned due to personal career planning but will continue as the chief producer, focusing on product and content development [1] - Zou Tao, the CEO of Kingsoft Software, will take over as the acting CEO of Xishanju, overseeing the company's operations [1] - The game "Jiexianji," which Guo Weiwei produced, has faced significant challenges in revenue and reputation since its launch [2] Company Changes - Guo Weiwei's resignation marks a significant leadership change at Xishanju, where he has been a key figure since 2004, contributing to major projects like "Jian Wang 3" [1] - Zou Tao's dual role as CEO of Kingsoft and acting CEO of Xishanju indicates a strategic move to stabilize the company during this transition [1] Product Performance - "Jiexianji," launched on July 2, has seen a drastic decline in active users, dropping from a peak of 132,800 to under 5,000 by November [2] - The game's reception has been mixed, with a 47% positive rating from players on Steam, indicating unmet expectations [2] Financial Overview - Kingsoft Software reported a 17% year-on-year decline in total revenue for Q3 2025, amounting to 2.419 billion RMB, with a 48% drop in net profit [2] - Revenue from online games and other businesses fell by 47% year-on-year, attributed to declines in existing titles and the early-stage development of "Jiexianji" [2] Industry Context - The gaming industry is currently facing both opportunities and challenges, with increasing demand for quality content and heightened market competition [2] - The need for product innovation and enhanced user experience is critical for companies like Xishanju to navigate the evolving landscape [2]

Core Insights - Guo Weiwei has resigned as CEO of Xishanju due to personal career planning, effective immediately, while continuing as Chief Producer [1] - Zou Tao, CEO of Kingsoft, will serve as acting CEO of Xishanju, taking over the company's operational management [1] Company Overview - Guo Weiwei joined Xishanju in 2004 and has held various key positions, including project leader for "Jian Wang 3" and CEO since 2016 [1] - The game "Jian Wang 3" has been a significant project under Guo's leadership, contributing to the company's reputation [1] Product Performance - The highly anticipated game "Jian Wang 3" faced challenges post-launch, with a significant drop in active users from a peak of 132,800 at launch to under 5,000 by November [2] - The game's positive review rate on Steam is only 47%, indicating mixed feedback from players [2] Financial Performance - Kingsoft reported a total revenue of 2.419 billion RMB for Q3 2025, a 17% year-over-year decline, with net profit down 48% to 213 million RMB [2] - Revenue from online games and other businesses fell to 898 million RMB, a 47% year-over-year decrease [2] Industry Context - The gaming industry is currently facing both opportunities and challenges, with increasing demand for quality content and intense market competition [2] - Companies must navigate the need for product innovation and enhanced user experience to succeed in this evolving landscape [2]

新浪科技讯 12月1日上午消息，今日，西山居发布内部信，指出西山居董事会收到首席执行官 （CEO）郭炜炜提交的辞职报告，称郭炜炜因个人职业规划原因，向董事会提出辞去西山居 CEO职务的请求。 新浪科技就上述内容向西山居方面求证，截至发稿，官方暂无回应。 西山居内部信全文如下： 全体西山居居士好：西山居董事会收到首席执行官（CEO）郭炜炜提交的辞职报告：因个人职业 规划原因，向董事会提出辞去西山居CEO职务的请求。 经西山居董事会讨论决定，报金山软件董事会批准：尊重郭炜炜的个人意愿并同意其辞任CEO职 务，继续担任西山居首席制作人职务；任命金山软件CEO兼西山居董事长邹涛担任西山居代理 CEO，郭炜炜直接向邹涛汇报工作。 当前，游戏行业正处于机遇与挑战并存的发展阶段：一方面，玩家对优质内容的需求持续升级， 全平台布局与文化出海成为行业新增长点；另一方面，市场竞争日趋激烈，产品创新与体验升级 的要求不断提高，这些都是西山居进一步发展所必须面对的课题。 西山居历经三十年深耕积淀，传承"成为游戏玩家的圣地"的初心与匠心基因。面对行业变革，西 山居将继续聚焦核心主业，依托优质IP矩阵、技术沉淀及战略资源优势，持续打磨产 ...

【CNMO科技消息】12月1日，有媒体报道称，西山居发布内部信，指出西山居董事会收到首席执行官 （CEO）郭炜炜提交的辞职报告，称其因个人职业规划原因，向董事会提出辞去西山居CEO职务的请 求。 郭炜炜 该内部信表示，经西山居董事会讨论决定，报金山软件董事会批准：尊重郭炜炜的个人意愿并同意其辞 任CEO职务，继续担任西山居首席制作人职务；任命金山软件CEO兼西山居董事长邹涛担任西山居代理 CEO，郭炜炜直接向邹涛汇报工作。 公开信息显示，郭炜炜于2004年加入金山旗下公司西山居；2011年任西山居副总裁；2016年任金山集团 副总裁、西山居CEO；2018年任金山集团高级副总裁、西山居CEO。其领衔制作的《剑侠情缘网络版 叁》（简称《剑网3》）是由金山软件西山居开发，金山运营的3D武侠角色扮演网游，是国内3D武侠网 游的开创者。 同时，内部信还提到，当前游戏行业正处于机遇与挑战并存的发展阶段：一方面，玩家对优质内容的需 求持续升级，全平台布局与文化出海成为行业新增长点；另一方面，市场竞争日趋激烈，产品创新与体 验升级的要求不断提高，这些都是西山居进一步发展所必须面对的课题。 据CNMO了解，西山居成立于199 ...

【独家 | #西山居高管变动#：#郭炜炜辞任西山居CEO#，邹涛担任代理CEO】今日，西山居发布内部 信，指出西山居董事会收到首席执行官(CEO)郭炜炜提交的辞职报告，称郭炜炜因个人职业规划原因， 向董事会提出辞去西山居CEO职务的请求。 全体西山居居士好: 西山居董事会收到首席执行官(CEO) 郭炜炜提交 的辞职报告:因个人职业规划原因,向董事会提出辞 去西山居CEO职务的请求。 经西山居董事会讨论决定,报金山软件董事会批 准:尊重郭炜炜的个人意愿并同意其辞任CEO职务, 继续担任西山居首席制作人职务;任命金山软件CEO 兼西山居董事长邹涛担任西山居代理CEO,郭炜炜直 接向邹涛汇报工作。 该内部信表示，经西山居董事会讨论决定，报金山软件董事会批准:尊重郭炜炜的个人意愿并同意其辞 任CEO职务，继续担任西山居首席制作人职务;任命金山软件CEO兼西山居董事长邹涛担任西山居代理 CEO，郭炜炜直接向邹涛汇报工作。 @新浪科技 就上述内容向西山居方面求证，截至发稿，官方暂无回应。 西山居内部信全文如下： 全体西山居居士好:西山居董事会收到首席执行官(CEO)郭炜炜提交的辞职报告:因个人职业规划原因， 向董事会提出 ...

Core Points - The CEO of Xishanju, Guo Weiwei, has submitted his resignation due to personal career planning reasons [1][4] - The board of Xishanju has accepted his resignation and appointed Zou Tao, the CEO of Kingsoft, as the acting CEO of Xishanju [2][4] - Guo Weiwei will continue to serve as the chief producer at Xishanju and will report directly to Zou Tao [2][4] Industry Context - The gaming industry is currently facing both opportunities and challenges, with increasing demand for high-quality content and a trend towards multi-platform development and cultural expansion [4] - The market competition is intensifying, requiring continuous product innovation and enhanced user experience, which are critical issues for Xishanju's further development [4] - Xishanju aims to focus on its core business, leveraging its quality IP matrix, technological foundation, and strategic resources to enhance product quality and innovate content experiences [5]

Core Insights - The game "Limitless Mecha" by Xishanju has failed to meet player expectations, leading to a significant drop in active users from a peak of 132,800 at launch to under 5,000 by November [1] - Other high-investment games like "Sword World" by Zhongyou and "The Legend of the Condor Heroes" by NetEase have also underperformed, resulting in substantial financial losses [1][2] - The gaming industry is facing challenges due to increased competition, high sunk costs, and the need for better long-term project management [2][3] Industry Challenges - The overall market growth has plateaued, making it common for even high-investment games to underperform [3] - A significant portion of new games released on platforms like Steam fail to generate sufficient revenue, with 40% earning less than $100 [3] - The high costs associated with mid-to-heavyweight products reduce their flexibility and increase the impact of individual game performance on overall company health [3] Product-Specific Issues - "Sword World" struggled due to its reliance on an older IP and traditional aesthetics, failing to attract a broader audience [4] - "The Legend of the Condor Heroes" and "Limitless Mecha" faced issues with innovation and mismatched monetization strategies, leading to poor market reception [5][6] - Many developers rely on past successful experiences, which can stifle innovation and lead to repetitive game designs [8] Market Predictions and Adjustments - Companies often have opportunities to adjust their products before launch, but many fail to do so due to cognitive biases and reliance on existing product models [7][9] - The disconnect between marketing promises and actual gameplay experiences can lead to low user retention rates [7] - Companies face difficult decisions regarding whether to continue investing in underperforming products due to high sunk costs [8] Future Strategies - Some companies are attempting to pivot by restructuring teams and adjusting monetization strategies to recover initial investments [12] - Understanding consumer needs and differentiating products in a saturated market is crucial for future success [12][13] - The gaming industry must reconcile the tension between commercial viability and creative expression to find sustainable success [13]

Core Viewpoint - Kingsoft Software has been actively repurchasing its shares, indicating a strategy to support its stock price amidst recent declines [2][3] Group 1: Share Buyback Activity - On November 28, Kingsoft Software repurchased 349,000 shares at a price range of HKD 28.620 to HKD 28.660, totaling HKD 9.9961 million [2] - The stock closed at HKD 28.640 on the same day, reflecting a decrease of 0.28%, with a total trading volume of HKD 198 million [2] - Since November 26, the company has conducted buybacks for three consecutive days, accumulating a total of 1,041,800 shares repurchased for a total amount of HKD 29.9913 million, during which the stock price has dropped by 2.92% [2] Group 2: Year-to-Date Buyback Summary - Year-to-date, Kingsoft Software has completed 12 buyback transactions, repurchasing a total of 5,308,600 shares for a cumulative amount of HKD 163 million [3] - The detailed buyback transactions include various dates, share quantities, and price ranges, with the highest buyback price recorded at HKD 35.100 and the lowest at HKD 27.260 [3]