新京报贝壳财经讯12月27日，网易公告宣布，在公司服务23年后，执行副总裁、互动娱乐事业群负责人 丁迎峰将于2025年12月31日正式退休。退休后，丁迎峰将继续担任公司顾问职务。 公告中，网易CEO丁磊表示，我们衷心感谢丁迎峰先生的奉献和贡献。他为公司旗舰游戏的成功做出了 卓越贡献，并在公司研发和运营能力的建设中发挥了关键作用。 ...

Core Insights - NetEase announced the retirement of its Executive Vice President and head of Interactive Entertainment, Ding Yingfeng, effective December 31, 2025, after which he will continue as a consultant for the company [1][3] - CEO Ding Lei expressed gratitude for Ding Yingfeng's contributions, highlighting his key role in the development of flagship games and the establishment of the company's R&D and operational systems [1][3] Company Performance - Ding Yingfeng joined NetEase in 2002 and has been instrumental in the R&D and operations of the Interactive Entertainment division, leading to the release of several influential games [1][3] - Under the "Evergreen Strategy," NetEase's products have shown strong performance this year, with the 22-year-old "Fantasy Westward Journey" PC version achieving a peak concurrent user count of over 3.58 million, a historical high [1][3] - Mobile game monthly active users reached a two-year peak, indicating robust engagement [1][3] - The new product "Yan Yun Shi Liu Sheng" saw its overseas version reach over 250,000 concurrent users on Steam, ranking second on the global bestseller list, with over 15 million players in its first month of release [1][3] Future Outlook - NetEase plans to continue leveraging its comprehensive system construction and talent strategy to promote steady business growth [2][4]

Group 1 - The core point of the news is the retirement of Ding Yingfeng, the Executive Vice President and head of the gaming department at NetEase, effective December 31, with plans to continue as a consultant until 2026 [2] - Ding Yingfeng has been with NetEase for 23 years, joining in 2002 and playing a key role in the success of flagship games like "Fantasy Westward Journey" and "Dream of Red Mansions" [2] - Following Ding's retirement, Hu Zhipeng, who was promoted to Executive Vice President in March, is expected to take over as the sole Executive Vice President of NetEase [3] Group 2 - NetEase reported a stable development with Q3 net revenue of 28.4 billion yuan, an 8.2% year-on-year increase, and a net profit of 8.6 billion yuan, up 32% [3] - The gaming business remains a significant revenue contributor, with Q3 revenue from games and related services reaching 23.3 billion yuan, a year-on-year increase of 11.8%, accounting for 82% of total net revenue [4] - The online gaming segment contributed 97.6% of the gaming revenue, driven by self-developed games and several agency games, with "Fantasy Westward Journey" achieving a peak online user count of 3.58 million [4]

Group 1 - The core management change at NetEase involves the retirement of Ding Yingfeng, who has served the company for 23 years, effective December 31, 2025 [1] - Ding Yingfeng will transition to a consultant role in 2026, continuing to support the company with his experience [1] - CEO Ding Lei acknowledged Ding Yingfeng's significant contributions to the development of flagship gaming products and the enhancement of the company's R&D and operational capabilities [1] Group 2 - Ding Yingfeng is a foundational figure in NetEase's gaming business, with over 25 years of experience in game development and design [1] - He played a crucial role in the early development of "Dahua Xiyou Online II" and led the development and operation of "Menghuan Xiyou," which became a key revenue pillar for NetEase [2] - From 2011 to 2016, he served as Vice President, overseeing product development and management in the online gaming department, and later became Executive Vice President and Co-President of NetEase Games [3] Group 3 - Under his leadership, NetEase expanded into mobile gaming with successful titles like "Yin Yang Shi," "Shuai Tu Zhi Bin," and "Fifth Personality," and also secured rights for popular overseas IPs [3] - Ding Yingfeng was a key executive, second only to CEO Ding Lei, and represented the company in important external activities, contributing to the sustained growth of gaming and related value-added services [3] - He had previously intended to retire three years ago but delayed his retirement to ensure the successful launch of "Menghuan Xiyou" and "Manwei Zhengfeng" [3]

Core Insights - NetEase Group announced the retirement of Ding Yingfeng, Executive Vice President and head of the Interactive Entertainment Division, effective December 31, 2025, after which he will continue as a company advisor [1][7] - CEO Ding Lei expressed gratitude for Ding Yingfeng's contributions, particularly in the success of flagship games and the development of the company's R&D and operational capabilities [1] Group 1: Career and Contributions - Ding Yingfeng entered the gaming industry in 1998 and joined NetEase in 2002, contributing to the design and development of several iconic products, including the first self-developed large-scale online game, "Dahua Xiyou Online" [2] - Under his leadership, "Dream of the West Journey," launched in 2003, has operated for over 22 years by the end of 2025, making it one of the longest-running and highest-grossing product series in NetEase's gaming history [2] Group 2: Business Performance - In the third quarter of 2025, NetEase reported a net revenue of RMB 28.4 billion, with net income from games and related value-added services reaching RMB 23.3 billion, an 11.8% increase compared to the same period in 2024, accounting for 82% of total revenue [5] - The growth was primarily driven by the launch of new games such as "Yanyun Sixteen Sounds" and "Broken Land," as well as the stable income from existing products like the "Dream of the West Journey" series and "Egg Party" [5] Group 3: Organizational Changes - Following Ding Yingfeng's retirement, his responsibilities will be taken over by the current management team of the Interactive Entertainment Division, although specific successors have not been disclosed [7] - The impact of this leadership change on NetEase's long-term strategy and product line planning for the gaming business will gradually become evident in 2026 and beyond [7]

Core Viewpoint - NetEase's Executive Vice President and head of the online gaming division, Ding Yingfeng, has announced his retirement effective December 31, 2025, after which he will continue as a consultant starting in 2026 [1] Group 1 - Ding Yingfeng joined NetEase in 2002 and served as Vice President from 2011 to 2016, overseeing product development, operations, and management of the online gaming division [1] - Since 2016, Ding has held the position of Executive Vice President, managing the interactive entertainment division of NetEase [1]

【导读】美股集体收跌，科技股普跌，中概股多数上涨；现货白银突破79美元/盎司 中概股多数上涨，纳斯达克中国金龙指数涨0.71%。热门中概股方面，小鹏汽车涨超6%，叮咚买菜涨逾 5%，蔚来涨超4%，理想汽车涨近4%。跌幅方面，小马智行跌超4%，霸王茶姬跌逾2% 中国基金报记者 张舟 大家好，今天是周六，近期美股处于假日清淡交易期，一起聚焦海外市场最新收盘表现与本周整体走 势。 美东时间12月26日周五收盘，美国股市集体收跌。热门科技股普跌，中概股多数上涨。 来看具体市场情况—— 美国三大股指全线收跌 昨夜今晨，美股三大股指全线收跌。截至收盘，道琼斯工业平均指数跌0.04%，报48710.97点；标普500 指数跌0.03%，报6929.94点；纳斯达克综合指数跌0.09%，报23593.1点。 从周度表现看，三大指数集体上涨。其中，纳指累涨1.22%，道指累涨1.2%，标普500累涨1.4%。 板块方面，昨夜今晨美股大型科技股多数下跌，万得美国科技七巨头指数跌0.06%。个股方面，特斯拉 跌超2%，脸书跌0.65%，谷歌跌0.23%，苹果跌0.15%，微软跌0.03%，亚马逊涨0.06%，英伟达涨逾 1%。 | ...

Core Insights - NetEase, Inc. announced the retirement of Yingfeng Ding, Executive Vice President and head of the Interactive Entertainment Group, effective December 31, 2025, after 23 years with the company [1][2] - Mr. Ding will continue to serve as a consultant to NetEase in 2026 following his retirement [2] Company Overview - NetEase, Inc. is a leading internet and game services provider, known for its premium content and extensive offerings in the gaming ecosystem, including popular mobile and PC games in China and globally [3][4] - The company boasts one of the largest in-house game R&D teams, focusing on mobile, PC, and console gaming, aiming to create superior gaming experiences and deliver value to its community [4] Additional Services - Beyond gaming, NetEase's service offerings include Youdao, an intelligent learning and advertising solutions provider, NetEase Cloud Music, an online music platform, and Yanxuan, a private-label consumer lifestyle brand [5]

Core Viewpoint - The article emphasizes the growth of China's gaming industry in overseas markets, highlighting that the actual sales revenue of self-developed games reached $9.501 billion, a year-on-year increase of 11.07% [6]. Group 1: Market Performance - Tencent's international market revenue grew by 43%, marking the highest growth rate since the segment's performance was disclosed [9]. - NetEase's overseas deferred revenue increased by 25.3% to 19.47 billion yuan, indicating that the overseas market is becoming a second growth curve for its gaming business [9]. - By 2025, China's self-developed game overseas revenue is expected to exceed $20 billion, reflecting a significant upward trend in overseas income [9]. Group 2: Leading Companies - Century Games has been identified as the "first factory" for overseas expansion, ranking first in the global mobile game manufacturers list, with notable titles like "Endless Winter" and "Kingdom of Bouncing" contributing to its success [12][13]. - Other companies like FunPlus and Lilith Games also continue to perform well in the overseas market, particularly in the SLG genre, which is popular in emerging markets [14]. Group 3: Game Genres and Player Demographics - SLG games remain a popular category for Chinese games going abroad, appealing to a wide range of players, including those in conflict zones seeking escapism [14]. - Casual games from companies like Habby, which include titles like "Archero" and "Dungeon of the Endless," have also shown strong performance in overseas markets due to their low entry barriers and engaging gameplay [16]. - Lemon Microfun targets ultra-casual players, primarily women, with games like match-3 and simulation genres, catering to players looking for quick entertainment during daily routines [19]. Group 4: Trends in Game Development - The article notes that shooting games continue to be a traditional strong category for overseas markets, with Tencent's "Delta Force" performing exceptionally well [20]. - The second dimension (二游) games, while not mainstream, have a dedicated following in overseas markets, with players attending conventions to connect with others [22]. - The success of titles like "Ming Tide" and "Yuan Yun Sixteen Sounds" indicates a growing interest in Chinese cultural themes, particularly in the martial arts genre, which has gained traction among overseas players [41][43]. Group 5: Future Directions - The article suggests that the combination of martial arts, immersive experiences in second dimension games, and detailed narratives in female-oriented games will shape the future landscape of Chinese games going abroad [48]. - The industry is transitioning from a rough expansion phase to a more refined competition stage focused on quality, culture, and gameplay [49]. - Companies will need to balance global adaptation with local expression to maintain competitive advantages in the international market [49].

Core Insights - The overseas market remains a key focus for the Chinese gaming industry, with actual sales revenue from self-developed games reaching $9.501 billion in the first half of 2025, marking an 11.07% year-on-year growth [1] - Major companies like Tencent and NetEase have reported significant revenue growth from international markets, with Tencent's international market revenue increasing by 43% and NetEase's deferred revenue growing by 25.3% to 19.47 billion yuan [3] - The trend indicates that by 2025, the overseas revenue from Chinese self-developed games is expected to exceed $20 billion, highlighting the increasing demand for Chinese games abroad [3] Group 1 - Tencent is recognized as a leading player in the overseas market, but Century Huatong has been named the "first factory" for overseas expansion in 2025 [4] - The "Top 50 Global Mobile Game Publishers" list includes nine Chinese companies, showcasing the competitive landscape and the presence of Chinese firms in the global market [5] - Century Huatong's success is attributed to several hit mobile games, particularly in the SLG genre, which remains popular in emerging markets [8] Group 2 - Companies like Haipi Games and Lemon Microfun are capitalizing on casual gaming trends, targeting light players, particularly women, with games that are easy to pick up and play [10][12] - The second dimension of gaming, particularly in the overseas market, is still developing, with companies like MiHoYo maintaining a loyal player base despite not being as dominant as in previous years [16] - The success of games like "Yanyun Sixteen Sounds" on platforms like Steam indicates a growing interest in Chinese martial arts games, suggesting a potential new direction for Chinese games in international markets [30][32] Group 3 - The overseas gaming market is evolving, with trends showing a shift towards quality, culture, and gameplay, moving away from a more crude approach [37] - The combination of martial arts themes, immersive experiences in second-dimensional games, and detailed narratives in female-oriented games are shaping the new landscape of Chinese games abroad [37] - Future challenges for companies will include balancing global adaptation with local expression while leveraging cultural advantages for sustained commercial competitiveness [37]