近日，网易游戏《头号追击》发布网易（官方版本）停运公告称，由于游戏开发运营策略的调整，《头号追击》游戏将于2026年2月26日10时终止运营。 公告显示，2025年12月17日10时，《头号追击》的全平台下载入口将被关闭，玩家将无法下载该游戏，同时停止游戏充值、新用户注册；2026年2月26日10 时，正式停止游戏运营，关闭游戏服务器，同时关闭该游戏的网易游戏官方网站，届时上述网站将不能访问。 公告还显示，自停运公告发布之日起至2026年2月26日10时止，《头号追击》现有玩家游戏账号中尚未使用的头号币可继续使用。 值得一提的是，11月24日15时，网易旗下MMO游戏《射雕》正式停止运营，停运的主要原因是《射雕三部曲》IP的合作期即将结束，以及游戏运营策略的 调整。 ...

Core Insights - Shenzhen aims to become China's leading city for game exports, while Guangzhou plans to develop the "Greater Bay Area Game Valley," indicating the expansion of Guangdong's gaming industry [1][3] Group 1: Market Growth and Projections - The global gaming market is projected to reach $188.8 billion by 2025, growing at a rate of 3.4%, with the Asia-Pacific market expected to be $87.6 billion, growing at 2.3%, and China's market estimated at $52.3 billion [1] - Guangdong's gaming revenue is forecasted to reach ¥283.613 billion by 2025, representing a year-on-year growth of 8.9% [2] Group 2: User Base and Revenue Distribution - China's gaming user base has surpassed 680 million, marking a historical high, with Guangdong's gaming revenue accounting for over 80% of the national total, up from 79.94% last year [2] - In 2025, mobile games are expected to generate ¥211.632 billion, client games ¥69.655 billion, and mini-program games ¥37.046 billion in Guangdong [2] Group 3: Industry Leadership and Development Trends - Guangdong's gaming industry has shown an average annual growth rate of 12% over the past decade, solidifying its position as a national leader [2] - The region is transitioning from "product management" to "emotional management," enhancing its role as the "heart" of China's gaming industry [3] Group 4: International Expansion - Guangdong's self-developed games are projected to generate overseas revenue of ¥42.36 billion in 2024, with expectations of reaching ¥46.427 billion by 2025, reflecting a growth of 9.6% [3] - The trend of "hardcore overseas expansion" is becoming a significant development strategy for Guangdong's gaming industry [3] Group 5: E-sports and Cultural Integration - E-sports are increasingly becoming a social activity for young people, evolving into an independent industry with a new ecosystem [4] - The integration of e-sports with various sectors, including culture and tourism, is creating new consumption patterns and opportunities within the industry [4]

Core Insights - Guangdong is positioning itself as a leading hub for the gaming industry in China, with initiatives to become the first city for game exports and the establishment of the "Greater Bay Area Game Valley" [2][3] Group 1: Market Growth and Projections - The global gaming market is projected to reach $188.8 billion by 2025, growing at a rate of 3.4%, with the Asia-Pacific region expected to generate $87.6 billion, a 2.3% increase [2] - China's gaming revenue is estimated to reach $52.3 billion by 2025, while Guangdong's gaming revenue is forecasted to hit ¥283.61 billion, reflecting an 8.9% year-on-year growth [2][3] Group 2: Guangdong's Market Share - Guangdong's gaming revenue accounts for over 80% of the national total, increasing from 79.94% the previous year, with a significant contribution from mobile games, client games, and mini-program games [3] - The province has seen an average annual growth rate of 12% in its gaming industry over the past decade, solidifying its status as a national leader [3] Group 3: Industry Development and Trends - The gaming industry in Guangdong is transitioning from "product management" to "emotional management," reinforcing its position as the "heart" of China's gaming sector [4] - The esports sector is rapidly evolving into a standalone industry, driven by new consumer trends and policies, with significant growth in esports-related products and events [4] Group 4: International Expansion - Guangdong's self-developed games are projected to generate over ¥42.36 billion in overseas revenue in 2024, with expectations for this figure to reach ¥46.43 billion by 2025, marking a 9.6% increase [4]

Core Insights - The Chinese gaming industry has experienced significant growth, with annual revenue increasing from 140.7 billion RMB to 325.7 billion RMB from 2015 to 2025, marking a doubling in revenue over the decade [1] - The focus has shifted from single product overseas distribution to a comprehensive global strategy encompassing investment, development, testing, publishing, and operation [2] - By 2025, the actual sales revenue of self-developed games in overseas markets is projected to reach 20.455 billion USD (approximately 144.03 billion RMB), reflecting a year-on-year growth of 10.23% [2] Industry Trends - The Chinese gaming industry has seen a comprehensive upgrade from government support to institutional backing and team enhancements, with initiatives like the "Game Shanghai Ten Articles" and the establishment of overseas service centers [3] - Major companies like Tencent and Century Huatong have reported substantial overseas revenues, with Tencent's overseas income reaching 20.8 billion RMB, accounting for about one-third of its total gaming revenue, and a year-on-year growth of 43% [4] - The diversification of game genres and gameplay has been crucial, with successful titles across various categories, including action, simulation, and RPGs, indicating a broadening of market appeal [4][5] Globalization Strategies - Chinese gaming companies are increasingly adopting global strategies from the outset, moving from localized adaptations to deep localization that considers cultural preferences and gameplay mechanics [8] - The shift in publishing strategies includes simultaneous global launches and prioritizing overseas versions, enhancing the relevance of products in international markets [8] - The use of interactive advertising and market testing has become common, allowing developers to gather real-time feedback and adjust their products accordingly [9] Technological Advancements - The integration of advanced technologies such as AI, VR, and cloud computing has become essential for Chinese gaming companies to enhance operational efficiency and market responsiveness [12][14] - AI technologies are being leveraged to streamline creative processes, allowing for rapid development and iteration of game concepts, thus reducing costs and time [15][16] - The 2025 report indicates that the growth in gaming revenue and user base is attributed to improved mobile game quality, successful long-standing titles, and the strong performance of mini-program games [16]

客户端 今日港股三大指数集体高开，恒指开盘涨0.02%，报25780.09点，恒科指涨0.07%，国企指数涨0.09%。 盘面上，科网股跌多涨少，网易涨超1%，腾讯跌近1%；黄金股延续涨势，中国白银集团涨超2%；内房 股板块活跃，融创中国涨超1%；银行股部分上涨，重庆农村商业银行涨超1%。 责任编辑：郭栩彤 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 今日港股三大指数集体高开，恒指开盘涨0.02%，报25780.09点，恒科指涨0.07%，国企指数涨0.09%。 盘面上，科网股跌多涨少，网易涨超1%，腾讯跌近1%；黄金股延续涨势，中国白银集团涨超2%；内房 股板块活跃，融创中国涨超1%；银行股部分上涨，重庆农村商业银行涨超1%。 | 国企指数 | 8922.07 +0.09% | | --- | --- | | 800100 | | | 但生科技指数 | 5492.83 +0.07% | | 800700 | | | 恒生指数 | 25780.09 +0.02% | | 800000 | | 责任编辑：郭栩彤 ...

MMO这块儿，确实网易更会整活。 就在上周，网易《逆水寒》端游宣布将于明年1月9日推出"十日服"。如字面意思，整个服就只开十天，1月9日开服，运营十天后于1月18日关服，并清除 所有数据。 01 我在逆水寒端游中"搜打撤"？ 十日服与传统服到底有哪些区别？除了10日删档等表面信息外，与正式服、黄金服相比，游戏在商业化模式、养成、战斗、交易等方面均有所不同。 最关键的，十日服取消了点卡，玩家可以无门槛地去体验。而玩家在游戏内的所有充值，可以全部继承到正式服中。 首先，为何会推出十日服？据《逆水寒》端游所述，MMO最有趣的部分就在前10天——玩家全部从0开始，社交尚未固化，数值尚未积累，对于任何一名 玩家都有体验。 不过，或许考虑到十日服的生态会与常规服截然不同，此次十日服更像是一片试验田：它独立运行，并不影响现有服务器生态。同时在养成、战斗上更加 激进，如回归原始的无规则野外PK，更快的养成释放，技能简化去掉冗余操作等等，这些在主流MMO很难见到设计，在十日服一股脑地放出来。 除了行业关注外，十日服在玩家圈层也掀起了不小的波澜。自12月19日《逆水寒》官方公众号公布十日服消息后，截止至今阅读量达到8.4万，转发 ...

Core Insights - The event "Evolution·Symbiosis·Empowerment - 2025 High-Quality Development Salon for Game and Animation Art" highlighted the transformative impact of AI on the gaming and animation industry, emphasizing that small teams can achieve significant results through enhanced efficiency [1][3]. Group 1: Event Overview - The salon was attended by over 100 representatives from game and animation companies, educational institutions, and independent developers, focusing on diverse development paths for animation and game art driven by visual technology [1]. - The event was guided by the Management Committee of the Malanshan (Changsha) Video Cultural and Creative Park and co-hosted by various organizations, aiming to inject new momentum into the regional game and animation art ecosystem through multi-faceted collaboration [3]. Group 2: AI and Industry Development - The establishment of an art production capacity base was announced, aimed at creating a standardized, large-scale, and professional art production platform to enhance project efficiency [3]. - The event featured discussions on the application of AI in the entire animation production process, showcasing how AI can revolutionize content creation and improve efficiency [3]. Group 3: Future Directions - The Malanshan Video Cultural and Creative Park is developing a "three-in-one" ecosystem to support high-quality development in the animation and gaming industry, focusing on computational power, enterprise cultivation, and an optimized innovation service environment [6]. - Future plans include enhancing the "creative research and development - talent cultivation - industry transformation" ecosystem to position the park as a leading hub for digital cultural creation and art production in China [6].

Core Insights - The 20th China Game Industry Annual Conference was held in December 2025 in Shanghai, marking a significant shift in the event's location from previous cities like Hainan, Guangzhou, and Beijing to a central area in Shanghai [1] - Shanghai's gaming industry is projected to generate over 140 billion yuan in revenue in 2024, accounting for approximately one-third of the national total, with the Xuhui District contributing over 70 billion yuan [3][4] - Xuhui's development is attributed to a systematic approach involving government guidance, market vitality, and collaborative industry ecology, rather than mere policy benefits or random corporate clustering [3] Policy Support - Xuhui has implemented a comprehensive policy framework to support gaming enterprises, providing full-spectrum assistance from establishment to growth [4] - The district has introduced significant financial support, with funding for key enterprises reaching up to 30 million yuan, demonstrating a commitment to the gaming industry's development [5] - A national first, the gaming industry service center was established in July 2025, consolidating over 20 government departments to provide integrated support for gaming companies [5][7] Intellectual Property Protection - Xuhui has established a copyright protection alliance involving multiple government and judicial bodies to safeguard the core assets of the gaming industry, such as creativity and intellectual property [7] - The district has introduced the first national standard for the management of commercial secrets in online gaming enterprises, emphasizing proactive protection measures [7] Spatial Development - Xuhui has strategically planned a "three-core drive" model to cater to different segments of the gaming industry, enhancing the ecosystem for growth [8][9] - The three cores include: - Caohejing, a hub for research and incubation, housing major companies like Tencent and MiHoYo, and offering extensive support for startups [10][12] - Xuhui Riverside, a cultural and global stage for gaming, hosting various high-profile gaming events and exhibitions [16] - Xujiahui and Yuanjie Street, a vibrant commercial area for consumer engagement and IP commercialization [21][19] Service Ecosystem - The Xuhui Gaming Industry Service Center provides tailored support throughout the lifecycle of gaming companies, ensuring efficient processes and addressing specific challenges faced by enterprises [22][23] - The district has developed multiple specialized incubators to foster a diverse ecosystem, offering resources and support for various types of gaming startups [24] Future Aspirations - The signing of a five-year strategic cooperation agreement with the China Audio-Video and Digital Publishing Association indicates Xuhui's ambition to become a leading hub in the gaming industry [29] - The "Three Centers and One Platform" initiative aims to enhance game development, global distribution, and value expansion, integrating gaming with cultural and commercial sectors [29][30] - Xuhui's approach serves as a replicable model for urban centers aiming to develop high-value cultural industries, showcasing the role of government as an ecosystem builder and resource connector [30][31]

Core Insights - The gaming industry is preparing for a significant year in 2026, with multiple game releases scheduled, including notable titles like "Arknights: End of the World" and "Stupid Never Dies" [2][3][4]. Group 1: Upcoming Game Releases - At least 25 games are expected to be released in 2026, featuring unique gameplay experiences and targeting both heavy and light gamers [3]. - Major titles include "Arknights: End of the World" set for January 22, 2026, and "Stupid Never Dies" planned for 2026 [4][19][17]. - Tencent's "Lock Kingdom: World" is scheduled for March 26, 2026, and aims to contribute positively to Q2 performance [5]. Group 2: Game Features and Innovations - "Lock Kingdom: World" will incorporate open-world elements and promises a non-paywall approach to character acquisition [5]. - "Arknights: End of the World" features a sandbox-style map and innovative gameplay mechanics, including automated factory construction [19]. - "Destiny Trigger" is a tactical shooter with a focus on seasonal gameplay and unique modes, aiming to fill a niche in the PVE shooting market [7]. Group 3: Market Trends and Strategies - Cross-platform play is becoming a key strategy for expanding audience reach in the gaming industry [3]. - The trend towards unique gameplay experiences is evident, with many upcoming titles offering differentiated mechanics and themes [3][30]. - Companies are leveraging established IPs and innovative gameplay to attract players, as seen with Tencent's "King of Glory: World" and its open-world mechanics [9][10]. Group 4: Industry Outlook - The gaming market is anticipated to become vibrant in 2026, with a mix of anticipated titles and established franchises [43]. - The release of major titles like "GTA6" alongside new entries could lead to a competitive and engaging gaming landscape [43].

Market Overview - The Hong Kong stock market indices experienced a decline, with the Hang Seng Tech Index dropping by 0.69% to 5488.89, while the Hang Seng Index and the China Enterprises Index fell by 0.11% and 0.29% respectively, indicating cautious market sentiment [1][2]. Sector Performance - Large tech stocks showed mixed results, with Alibaba, Meituan, and JD.com gaining, while Kuaishou fell over 3%. Tencent and Xiaomi also declined [3][4]. - Wind power stocks maintained strong performance throughout the day, while building materials, cement, and most banking stocks saw increases. In contrast, mobile gaming, military, robotics, and semiconductor stocks faced collective downturns [3][4]. Individual Stock Movements - Kuaishou's stock price fell by 3.52% to 64.35, with a total market capitalization of 277.95 billion. Tencent's stock decreased by 2.03% to 602.00, with a market cap of 5.5 trillion [5][6]. - Semiconductor stocks experienced declines, with notable drops including Brainhole Technology down over 9% and Innodisk down over 4%. Counterpoint Research reported that the global wafer foundry market revenue reached $84.8 billion in Q3, a 17% year-on-year increase, with TSMC holding a 39% market share [6][7]. Commodity Performance - Gold and precious metals initially rose but later fell back. Spot gold reached a record high of $4490.88 per ounce, marking a year-to-date increase of over 71%. JPMorgan forecasts an average gold price of $5055 per ounce by Q4 2026 and $5400 by the end of 2027 [7][8]. Shipping and Port Stocks - Shipping and port stocks saw gains, with China Shipbuilding Leasing rising nearly 3% and COSCO Shipping Holdings increasing over 2% [9]. Capital Flows - Net buying from southbound funds amounted to 611 million HKD, with a net sell of 582 million HKD through the Shanghai-Hong Kong Stock Connect and a net buy of 1.193 billion HKD through the Shenzhen-Hong Kong Stock Connect [9]. Future Outlook - Huatai Securities noted that the market remains in a left-side layout phase, with the right-side turning point still unclear. There is strong consensus on the anticipation of a spring rally, but year-end supply and demand pressures create uncertainty regarding the "Santa rally." The first quarter may present a higher probability phase for investment [11].