Core Insights - The Chinese gaming industry continues to show strong performance in overseas markets, with both leading and mid-tier companies achieving new records [1] - The long-term challenge for all companies is to ensure sustainable operations for their overseas products in a highly competitive market [1] Summary of Key Points Evergreen Games - In Q3 2025, 25 games made it to the "Evergreen List," maintaining the same number as the first half of the year [1] - The top three games on this list are "Gossip Harbor," "PUBG MOBILE," and "Genshin Impact," with estimated overseas revenues of approximately $141 million (¥1.01 billion), $110 million (¥787 million), and $67.94 million (¥484 million) respectively [6][7] Potential Evergreen Games - A total of 15 games entered the "Potential Evergreen List," an increase of one from the previous half-year [10] - Notable entries include "Whiteout Survival," "Honkai: Star Rail," and "Top Heroes," with estimated revenues of approximately $279 million (¥1.99 billion), $133 million (¥949 million), and $89.5 million (¥638 million) respectively [11][12] Revenue Statistics - The total estimated overseas revenue for the 25 games on the Evergreen List in Q3 2025 is approximately $908 million (¥6.48 billion) [6] - Seven games achieved an average monthly revenue exceeding ¥100 million [6] Company Performance - Century Games has the highest representation on the Potential Evergreen List with three games, while companies like miHoYo, Tencent, and others have one or two games each [10] - Century Games' "Whiteout Survival" leads with an estimated revenue of approximately $279 million (¥1.99 billion) in Q3 2025 [11] Market Trends - The global gaming industry is undergoing a transformation, with companies shifting from a traffic-driven user acquisition model to a more integrated gameplay approach [13] - The focus is on deep localization in each region and leveraging AI for cost reduction and efficiency in various operational aspects [13]

每经AI快讯，网易-S涨幅扩大至4.38%，现价233.6港元，换手率0.02%。 ...

Core Viewpoint - The Hong Kong stock market experienced a significant rise on October 20, with the Hang Seng Index increasing by 2.52% and the Hang Seng Tech Index rising by 3.9% [1] Company Performance - NetEase and China Life Insurance both saw their stock prices increase by over 6% [1] - Baidu and JD.com experienced stock price increases of over 5% [1] - Alibaba's stock price rose nearly 5% [1]

每经AI快讯，10月20日，港股热门科技股普遍上涨，网易涨超6%，百度集团、京东集团涨超5%，快 手、蔚来、哔哩哔哩涨超4%，中芯国际涨超3%。 ...

Game Releases - Xishanju officially announced the first seamless open-world MMO "Sword侠世界4:无限" on October 16, with a global pre-registration channel launched, featuring a game world of 1 million square meters and over 30 types of terrain and unique towns [1] - ByteDance's "境・界刀鸣" began Android testing on October 16, with global pre-registration exceeding 12 million, set to launch globally on November 21 [3] - NetEase's "命运：群星" launched on October 16, topping the domestic iOS free chart on its first day, with the overseas version previously achieving top downloads in 19 markets, contributing over 70% of revenue from the US market [5] - Bilibili's top-down shooter "逃离鸭科夫" officially launched on October 16 on PC, achieving a 94% positive rating on Steam and a peak concurrent player count of over 35,000 on its first day [7] Industry News - The first national standard for the protection of trade secrets in the online gaming sector was officially released on October 14, under the guidance of the Shanghai Municipal Market Supervision Bureau [13] - The Hainan Free Trade Port Game Industry Ecological Innovation Development Conference was held on October 18, announcing support policies for the game industry, with individual companies eligible for up to 15 million yuan in promotional vouchers [15] - Legendary game producer Tomonobu Itagaki passed away on October 16, known for founding Team Ninja and developing iconic series such as "Dead or Alive" and "Ninja Gaiden" [16] Company Developments - NetEase announced the termination of operations for its SLG mobile game "指环王：纷争," effective December 31, 2025, after only a year and a half since its launch in the domestic market [11]

Group 1 - The core value of enterprise email systems lies in their ability to enhance communication efficiency and security, which is crucial for international business operations [1][2] - The integration of enterprise email into the company's information management system is essential for improving internal collaboration and external image [1][11] Group 2 - The enterprise email system is designed with a specialized email relay mechanism to ensure efficient and stable communication, reducing delays and losses in email transmission [2] - A multi-layered security system is implemented to protect against spam and viruses, significantly lowering the risk of malicious emails disrupting the work environment [5] - Professional services provided by authorized vendors help companies optimize costs while enjoying high-quality email services, allowing them to focus on core business development [6] Group 3 - Using an independent domain email enhances the professional image and credibility of businesses, particularly in foreign trade, by standardizing communication formats [9] - Clear usage regulations and operational processes must be established for the integration of enterprise email, including naming conventions and data archiving methods [11] - Regular security audits and performance evaluations are necessary to ensure the long-term stability of the email system [11]

Core Insights - The Brazilian Game Exhibition showcased a variety of Chinese gaming products and hardware, highlighting the growing influence of Chinese games in the Latin American market [1][2] - MiHoYo's "Genshin Impact" attracted significant attention, with a large fan base in Brazil and new version trials available at the event [1] - The exhibition also featured TCL's latest electronic products, emphasizing the importance of the Brazilian market for gaming and entertainment [2] Group 1: Game Exhibits - MiHoYo's "Genshin Impact" had a crowded booth with many Brazilian players dressed as game characters, indicating its popularity in Brazil [1] - The game offers a rich narrative and detailed characters, appealing to local players who appreciate its artistic style and gameplay [1] - Smile.One showcased the upcoming martial arts game "Yanyun Shiliusheng," which drew considerable interest due to the allure of Chinese martial arts themes [2] Group 2: Electronic Products - TCL presented new QD-MiniLED gaming TVs and large curved gaming monitors, creating immersive gaming experiences at their booth [2] - The company aims to engage with the young audience in Brazil, a significant market for gaming, by showcasing innovative products [2] - The exhibition has seen over 3 million attendees since its inception, with this year's attendance reaching a record high [2]

Core Insights - The gaming industry is experiencing a surge in both offline and online activities, driven by sustained efforts from game developers in content, operations, and international expansion [1][2][3] Group 1: Offline Events and Market Performance - The 2025 AGF Asia Game Expo and China International Comic Festival attracted over 450,000 attendees, highlighting the unique value of offline events in building player communities and enhancing IP influence [2] - The Guangdong gaming industry generated revenue of approximately 260.43 billion yuan, accounting for nearly 80% of the national total, making the expo a key driver for the "National Day Dimension Economy" in Guangzhou [2] - During the National Day holiday, the top 20 iOS games generated around 1.328 billion yuan, with the top 100 games reaching a total revenue of 1.814 billion yuan, indicating the market's strong revenue potential [3] Group 2: Global Market Position of Chinese Developers - In September 2025, 32 Chinese companies made it to the global mobile game publisher revenue ranking, collectively earning about 1.95 billion USD, with Tencent, NetEase, and DianDian Interactive leading the list [4] - Chinese developers maintained a market share of approximately one-third in the global top 100 publishers, with total revenue nearing 18 billion USD from January to August 2025 [4] - Century Games, a subsidiary of Century Huatong, rose to the top of the global mobile game publisher ranking, surpassing established international companies [5] Group 3: Performance of Major and Emerging Developers - Tencent and NetEase continue to dominate the market, with Tencent's "Valorant" and NetEase's "Fantasy Westward Journey" showing significant revenue growth in September [7] - Smaller developers like Lemon Microfun and Lingxi Interactive are also demonstrating strong growth, with Lemon Microfun's "Gossip Harbor" achieving a historical revenue high [8] - The resurgence of the ACG (Anime, Comic, and Game) sector is evident, with significant revenue increases for titles like "Genshin Impact" and "Honkai: Star Rail" in September [9][10] Group 4: Future Market Trends and Valuation - The gaming market is expected to become more active in October, with over 20 new games scheduled for release, indicating intensified competition [12] - Analysts predict high growth for the gaming industry, with potential upward adjustments in performance forecasts for the second half of 2025 and into 2026 [12] - The Chinese gaming industry, which has seen slowed growth, is anticipated to enter a new phase of rapid expansion over the next decade, driven by a diverse range of new game releases [12]

Core Insights - NetEase (NTES.US) shares fell by 3% in pre-market trading following the announcement of the shutdown of its mobile game "The Lord of the Rings: Rise to War," which had a brief operational period of approximately one year and seven months due to "development and operational strategy adjustments" [1] Company Summary - The game "The Lord of the Rings: Rise to War" was launched in May 2024 and is now set to cease operations, highlighting potential challenges in the gaming industry regarding game longevity and market strategy [1] Market Data - As of October 16, 2023, NetEase's closing price was $148.600, with a pre-market price of $144.100, reflecting a decrease of 3.03% [2] - The stock's highest price in the last 52 weeks was $159.550, while the lowest was $73.887, indicating significant volatility [2] - The company's total market capitalization stands at approximately $94.093 billion [2]

Core Insights - The article highlights the rapid growth of Chinese mobile games entering overseas markets, driven by supportive government policies and increasing participation from various game developers [1][5] - A list of top-performing Chinese mobile games in overseas markets is presented, showcasing their estimated revenues and the factors contributing to their success [2][4] Industry Overview - The overseas market has become a primary testing and launching ground for many small to medium-sized game developers [1] - The Chinese gaming industry has entered a period of explosive growth in international markets, particularly following regulatory changes in 2018 and 2021 [1][5] - The government has implemented policies to support the internationalization of the gaming industry, creating a favorable environment for overseas expansion [1] Performance Metrics - In the third quarter, ten games made it to the "Overseas Dark Horse List," with a total estimated revenue of $445 million (approximately ¥3.176 billion) [5] - Three games exceeded $60 million in estimated overseas revenue, indicating strong market performance [5] Top Games Analysis - **Kingshot** by Century Games topped the list with an estimated revenue of $153.5 million (approximately ¥1.095 billion) since its launch in February 2025 [4][6] - **Last Z: Survival Shooter** ranked second with an estimated revenue of $87.6 million (approximately ¥625 million) [7] - **杖剑传说** (Staff Sword Legend) debuted in third place with an estimated revenue of $63.2 million (approximately ¥451 million) [7][8] New Entrants - Four new games made their debut on the list, including **Lands of Jail**, **Destiny: Rising**, and **银与绯** (Silver and Crimson), showcasing the diversity of themes and gameplay styles [9][12] - **Lands of Jail** generated an estimated revenue of $29.3 million (approximately ¥209 million) [11] - **Destiny: Rising**, leveraging the popular IP, achieved an estimated revenue of $15.8 million (approximately ¥113 million) [12] Market Trends - The SLG (Strategy Game) genre is highlighted for its high retention rates and strong user loyalty, making it suitable for long-term operations [11] - The integration of diverse gameplay styles within SLG games is seen as a strategy to broaden user demographics and enhance monetization efficiency [11][14] - The article notes the growing popularity of two-dimensional games in overseas markets, emphasizing the need for unique themes and cultural elements to stand out [12][14]