Core Viewpoint - The article highlights the significant presence and influence of Chinese companies at the Tokyo Game Show (TGS), showcasing advancements in AI technology and its integration into the gaming industry [1][36]. Group 1: Chinese Companies at TGS - Major Chinese gaming companies such as NetEase, Tencent, and others have established impressive exhibition spaces, attracting numerous players [2][8]. - AI companies are also making their mark at TGS, demonstrating their capabilities and innovations in the gaming sector [8][10]. Group 2: AI Technology Showcase - Alibaba's booth prominently featured its open-source models, including Tongyi Qianwen and Tongyi Wanxiang, offering a range of commercial solutions from IaaS to SaaS [11][12]. - The Model Studio platform and AI development platform PAI were highlighted as part of Alibaba's offerings, indicating a strong push for AI integration in gaming [13][15]. Group 3: 3D Generation Technology - Tencent Cloud emphasized its cloud computing capabilities for game security and operations, while also discussing the potential of mixed reality 3D technology [21][22]. - VAST's Tripo, a leading open-source 3D generation project, is gaining attention from game developers both domestically and internationally [26][27]. Group 4: AI Applications in Gaming - HakkoAI, an AI gaming companion, showcased its ability to understand and interact with various games, outperforming several top general models in specific gaming scenarios [34]. - The integration of AI in gaming is creating new possibilities and enhancing player experiences, indicating a growing trend in the industry [36].

Market Overview - The Hang Seng Index (HSI) closed at 26,253.57, up by 125.37 points or 0.48% as of September 26, 16:00 [1] - The index reached a high of 26,319.20 and a low of 26,156.64 during the trading session, with a trading volume of 63.71 million [1] Major Blue-Chip Stocks Performance - HSBC Holdings closed at HKD 108.633, an increase of 1.081% from the previous close [2] - Tencent Holdings closed at HKD 648.733, up by 0.73% compared to the last trading session [2] ADR Performance Summary - Tencent Holdings (ADR: TCEHY) increased by HKD 4.733, or 0.73% [3] - Alibaba Group (ADR: BABA) rose by HKD 0.672, or 0.40% [3] - HSBC Holdings (ADR: HSBC) saw an increase of HKD 1.933, or 1.81% [3] - Xiaomi Group (ADR: XIACY) gained HKD 0.584, or 1.07% [3] - AIA Group (ADR: AAGIY) increased by HKD 0.222, or 0.31% [3] - Meituan (ADR: MPNGY) rose by HKD 0.534, or 0.53% [3] - Ctrip Group (ADR: TCOM) increased by HKD 8.120, or 1.39% [3] - JD.com (ADR: ID) rose by HKD 1.696, or 1.28% [3]

停运公告 扬子晚报网9月26日讯(记者姜天圣)9月24日，网易游戏《射雕》在官方账号发布停运公告，称网易公司 与明河社就《射雕三部曲》IP之合作期即将结束，及游戏运营策略的调整，《射雕》游戏将于2025年11 月24日15时终止运营。 在补偿方案中，网易官方表示，《射雕》玩家的网易邮箱/手机账号中尚未使用的收费金锭(特指玩家通 过法定货币充值获得的金锭)，网易将以等额点数的方式存储于玩家网易邮箱/手机账号里以作为补偿， 玩家可继续在网易公司旗下的其他相关游戏中使用该点数；此外，9月24日前登录过《射雕》账号的玩 家，可以在其他几款网易游戏中获一些游戏道具。 据悉，《射雕》在2024年3月公测上线1.0版本，后续游戏持续在美术风格、武学系统等方面进行优化， 2025年3月上线2.0版本，获得了一些游戏行业媒体的肯定。"回到数值MMO的舒适区后，《射雕》已经 是一款合格的MMO类产品……甚至在很多玩法上都很有特色。" 公开资料显示，《射雕》是一款由网易游戏开发的武侠冒险RPG游戏，2022年12月16日正式开启"铁血 丹心"封测。2024年3月28日开启公测。2025年3月13日正式上线其经过"回炉重制"的2.0 ...

Core Viewpoint - The article discusses the evolution of China's gaming industry policies, highlighting the government's support and regulatory measures aimed at fostering growth and addressing challenges within the sector [2][3][4]. Policy Evolution - The gaming industry in China has transitioned from "cultural market management" to "digital content industry cultivation" and finally to "cultural industry pillarization and digital strategy" as outlined in national economic plans from the "Eighth Five-Year Plan" to the "Fourteenth Five-Year Plan" [2][3][4]. - The "Eleventh Five-Year Plan" (2006-2010) encouraged the development of digital content industries, including gaming, and emphasized cultural innovation and quality improvement [3]. - The "Twelfth Five-Year Plan" (2011-2015) aimed to make the cultural industry a pillar of the national economy, enhancing its overall strength and competitiveness [3]. - The "Thirteenth Five-Year Plan" (2016-2020) introduced the term "gaming" and focused on accelerating the development of emerging industries such as online audio-visual, mobile multimedia, and digital publishing [3]. - The "Fourteenth Five-Year Plan" (2021-2025) emphasizes expanding the supply of quality cultural products and implementing a digital strategy for the cultural industry [4]. National Policy Summary - Since 2000, various government bodies have issued policies to support and regulate the gaming industry, covering aspects such as technological development, industry standards, and minor user regulations [7][8]. - Key policies include the "Network Game Management Measures" aimed at ensuring the healthy development of the gaming industry and the "Technical Requirements for Minor User Monitoring Systems" which impose restrictions on gaming time and spending for minors [9][10]. Provincial Policies - Coastal provinces like Guangdong, Beijing, and Zhejiang have introduced supportive policies for the gaming industry, focusing on high-quality development, technological innovation, and overseas expansion [23][24]. - Specific measures include optimizing game approval processes, encouraging the development of 3A games, and supporting collaborations with historical IPs [24][25]. Market Outlook - As of mid-2025, China's gaming industry is projected to have an overseas market size of $9.501 billion, reflecting a year-on-year growth of 11.07% [20]. - The government aims to enhance the global competitiveness of the gaming industry by promoting the entire value chain from IP creation to overseas operations [20].

在休闲纸牌这个大类别里，各类玩法分支不可谓不众多，具体的游戏形式以及载体更是可以从手游、PC追溯到桌游，诞生于1971年的"UNO（优诺 牌）"玩法便是其中之一，其在国内虽然热度一般，但在海外尤其是欧美却拥有着较高的普及度，由于规则简单易上手、节奏轻快且充满变数，更是做到 全年龄段玩家的覆盖且男女比例较为平均。 然而，尽管《UNO!™》依然保持着相当"旺盛的生命力"，但随着产品周期的不断后移，寻找"接棒者"也开始愈发重要。 就在9月17日，美泰163正式在全球170多个国家及地区上线了第二款UNO游戏——《UNO Wonder》，当天便登上35个区域市场iOS游戏免费榜TOP20（其 中位于美国第2、德国第6、丹麦第7），预计可能成为新的长线爆款。 拥有这样一系列优势的UNO玩法自然逃不过手游化的浪潮，而目前强势把持这一细分赛道龙头位置的游戏厂商则是网易投资创立的合资公司——美泰163 （Mattel163），该公司旗下的《UNO!™》是正版IP授权的首款手游产品，运营近7年，当前月流水依然稳定在2500万元以上。 那么《UNO Wonder》具体的市场数据和玩法究竟如何？其从初期测试到正式上线经历了怎样的迭 ...

Core Insights - The Tokyo Game Show (TGS) 2025 has set a record with over 1,100 exhibitors and more than 4,100 booths, marking the largest scale in its history [3] - Chinese game developers showcased significant advancements, with many titles gaining attention even before reaching the main venue [5][6] - The event highlighted the growing competitiveness of Chinese games in the global market, particularly in the anime-style game sector [9][10] Group 1: Event Scale and Attendance - TGS 2025 is the largest ever, with over 1,100 exhibitors and 4,100 booths, indicating a substantial increase in participation [3] - The number of attendees has also surged, with long queues observed before the event's opening [3] Group 2: Chinese Game Developers' Performance - Chinese games have made a strong impression at TGS 2025, with titles like "Endless Winter" and "Infinite" prominently displayed [5][6] - The success at both TGS and Gamescom 2025 suggests that Chinese developers are now capable of competing on a global scale [8][9] Group 3: Upcoming Titles and Market Trends - Many new titles are set to launch in 2026, indicating a potentially explosive year for the anime game market [10][11] - Notable games like NetEase's "Infinite" generated significant interest, with long wait times for hands-on experiences [13][15] Group 4: Diverse Game Offerings - The event featured a variety of genres beyond anime games, with Tencent showcasing titles like "Fate Trigger" and "Chasing Kaleido" [25][27] - Other popular titles included "Tomorrow's Ark: End of the World" and "Dual Spiral," which also attracted considerable attention [19][23] Group 5: Cultural Impact and Market Penetration - The presence of Chinese games at TGS reflects a broader trend of increasing cultural exchange and market penetration in Japan [45][47] - The success of titles like "Nirvana in Fire" and "Fifth Personality" demonstrates the appeal of Chinese games to Japanese audiences [41][43]

Market Overview - The Hang Seng Index closed at 26,404.18, down by 80.50 points or 0.30% on September 25 [1] - The index reached a high of 26,430.39 and a low of 26,319.63 during the trading session, with a trading volume of 66.046 million shares [1] Major Stocks Performance - HSBC Holdings closed at HKD 107.287, up by 0.17% compared to the previous close [2] - Tencent Holdings closed at HKD 648.343, down by 0.25% compared to the previous close [2] - Alibaba Group (W) saw a decline of 1.15%, closing at HKD 172.000 [3] - China Construction Bank dropped by 2.28%, closing at HKD 7.300 [3] - Xiaomi Group (W) increased by 4.48%, closing at HKD 59.450 [3] ADR Performance - Tencent's ADR price was USD 648.343, reflecting a decrease of 0.25% compared to its Hong Kong stock price [3] - Alibaba's ADR price was USD 170.695, down by 0.76% compared to its Hong Kong stock price [3] - HSBC's ADR price was USD 107.287, showing an increase of 0.17% compared to its Hong Kong stock price [3]

Core Insights - The article highlights the stable approval process for domestic game licenses in China, with a significant increase in the number of licenses issued in 2025 compared to the previous year [1][3] - The gaming market in August 2025 showed stable performance, with notable revenue contributions from high-quality products, indicating a positive outlook for game development companies [2][3] Group 1: License Approval and Supply - On September 24, 2025, the National Press and Publication Administration approved 145 domestic games and 11 imported games, indicating a robust supply of game licenses [1] - The total number of domestic game licenses issued in 2025 has reached 1,195, significantly higher than the 959 licenses issued in the same period last year, with an average monthly issuance of 132.8 licenses [1] Group 2: Market Performance - In August 2025, the domestic gaming market generated revenue of 29.263 billion yuan, reflecting a month-on-month growth of 0.61% but a year-on-year decline of 13.01% due to a high base from the previous year [2] - Mobile game revenue was 21.521 billion yuan, with a month-on-month increase of 0.85% and a year-on-year decrease of 4.25%, while client game revenue was 6.563 billion yuan, showing a month-on-month decline of 1.11% but a year-on-year increase of 17.59% [2] Group 3: Investment Outlook - The stable approval rhythm for game licenses and the rich supply of game products lead to a favorable investment outlook for companies with strong content reserves and solid fundamentals [3]

Core Viewpoint - Tencent and NetEase have announced restrictions on gaming time for minors during the upcoming National Day and Mid-Autumn Festival holidays in 2025, in compliance with regulations from the National Press and Publication Administration aimed at preventing minors from becoming addicted to online games [2][5]. Tencent Gaming Restrictions - Tencent's gaming restrictions for minors will be in effect from September 26-27 and October 1-8, allowing access to games only from 20:00 to 21:00 on these dates [4]. - On other weekdays and during the adjusted workday on September 28 and October 11, gaming will be prohibited for minors [4]. NetEase Gaming Restrictions - NetEase has also set similar restrictions, allowing minors to play games from 20:00 to 21:00 during the National Day and Mid-Autumn Festival holidays from October 1 to 8, as well as on October 10 and 12 [6]. - Minors will not be able to access games on September 28 and October 11, which are designated as workdays [6].

Group 1 - The Hong Kong stock market saw mixed performance with the Hang Seng Technology Index slightly down by 0.13%, while the National Enterprises Index rose marginally by 0.01% [2] - The Hang Seng Technology Index experienced a peak increase of 2% during the trading session before closing with a minor decline [2] Group 2 - Major technology stocks generally maintained an upward trend, with Xiaomi rising by 4.48%, JD.com by 3.46%, and Baidu by 2.33% [4] - Automotive stocks collectively increased, with Chery Automobile seeing a significant rise of nearly 14% on its first trading day, while other companies like Li Auto, NIO, and BYD also posted gains [4] - Copper prices surged due to supply tightness following an accident at the world's second-largest copper mine, leading to strong performances in the copper sector, with China Daye Non-Ferrous Metals soaring by 25% [4]