Core Insights - The launch of the new card pool "King of Summoning" for the mobile game "World Beyond" on July 23, 2025, led to significant player backlash due to an unexpected price increase from 300 to 400 yellow diamonds per draw, representing a 33.33% increase without prior notice [1][6][21] - Following the price change, daily revenue plummeted from $57,000 on July 24 to $22,800 on July 25, and further declined to $2,500 by August 4, marking a 95.6% drop [2][4] - The game's ranking on the iOS bestseller list fell sharply from 19th to 195th within two weeks, indicating a loss of player interest and trust [4][11] Revenue Impact - The initial revenue spike on July 24 was short-lived, as players began to withdraw from spending after the price increase and inadequate compensation from the developers [2][11] - The game's revenue trajectory showed a consistent decline post-launch, highlighting the negative impact of the pricing strategy on player spending behavior [2][11] Player Sentiment - Players expressed feelings of betrayal and dissatisfaction, leading to a collective decision to halt spending until further clarification from the developers [7][9] - The initial optimism among players quickly turned to frustration after the developers' inadequate compensation offer of only five draws, which was perceived as insufficient [9][11] Developer Response - The developers' communication strategy was criticized for being slow and ineffective, failing to address player concerns promptly [16][18] - Subsequent announcements from the developers, particularly the blunt statement "want to make money," further alienated players and led to a decline in trust [21][30] Market Position - Despite being a top performer in the female-oriented gaming sector, "World Beyond" faces challenges in maintaining its position due to its pricing strategy and player dissatisfaction [26][24] - The game has a lower average revenue per daily active user (ARPDAU) compared to competitors, indicating a reliance on light-spending players rather than high-value transactions [26][30] Future Considerations - The developers need to reassess their pricing strategies and communication approaches to rebuild player trust and enhance engagement [30][32] - The situation highlights the importance of balancing monetization efforts with player satisfaction in the competitive gaming market [32]

Group 1 - The 22nd ChinaJoy attracted a record 410,300 visitors, with 66% male and 34% female attendees, showcasing a total exhibition area of 135,000 square meters and 799 participating companies [1] - The high visitor turnout at ChinaJoy provides an excellent platform for product display and brand promotion, potentially enhancing revenue expectations for participating companies and boosting investor confidence [1] Group 2 - The official announcement for the launch of "Diablo II: Resurrected" in China is set for August 27, with a strong emphasis on combating cheating and ensuring a fair gaming environment [2] - This initiative is expected to increase player confidence and loyalty, which may lead to higher willingness to pay and retention rates, ultimately driving revenue growth for the game [2] Group 3 - Multiple games under NetEase experienced login issues, causing significant player concern and trending on social media [3] - The login failures could directly reduce daily active users and impact game revenue; prolonged issues may lead to player attrition and affect long-term revenue capabilities [3]

Group 1 - The 22nd ChinaJoy attracted a record 410,300 visitors, with 66% male and 34% female attendees, showcasing a significant interest in the digital entertainment sector [1] - The event featured 799 exhibitors across 135,000 square meters, providing a platform for product display and brand promotion, which is expected to enhance revenue expectations and investor confidence [1] - The announcement of the domestic launch of "Diablo II: Resurrected" on August 27 includes strict measures against cheating, aiming to ensure a fair gaming environment, which may boost player confidence and spending [2] Group 2 - Recent login issues across multiple NetEase games, including "Onmyoji" and "Identity V," have raised concerns among players, potentially impacting daily active users and revenue [3] - The login failures have prompted official responses from the game developers, indicating ongoing technical issues and plans for compensation, which may affect player retention if not resolved quickly [3] - As a leading player in the gaming industry, NetEase's operational challenges could have broader implications for its market share and long-term revenue capabilities [3]

从中证中国内地企业500通信服务指数持仓的市场板块来看，深圳证券交易所占比36.49%、香港证券交 易所占比31.54%、纳斯达克全球精选市场证券交易所(Consolidated Issue)占比19.17%、上海证券交易所 占比7.84%、纽约证券交易所占比3.69%、纳斯达克股票市场证券交易所(Consolidated Large Cap)占比 1.27%。 从中证中国内地企业500通信服务指数持仓样本的行业来看，通信设备占比26.74%、数字媒体占比 20.11%、电信运营服务占比14.59%、文化娱乐占比4.95%、数据中心占比4.63%、营销与广告占比 3.01%、通信技术服务占比1.83%。 金融界8月5日消息，上证指数高开高走，中证中国内地企业500通信服务指数 (内地企业通信，931538) 报3105.25点。 数据统计显示，中证中国内地企业500通信服务指数近一个月上涨8.46%，近三个月上涨20.59%，年至 今上涨23.56%。 据了解，中证中国内地企业500行业指数系列从中证中国内地企业500指数样本中，按中证行业分类标准 进行分类，进入各自行业的全部证券作为相应行业指数的指数样本， ...

Industry Overview - Chinese gaming stocks, including Bilibili and NetEase, saw a pre-market rise, with Bilibili increasing over 3% and NetEase over 2% [1] - The China Audio-Video and Digital Publishing Association's report indicates that the domestic gaming market's actual sales revenue for the first half of 2025 is projected to reach 168 billion yuan, marking a year-on-year growth of 14.08%, setting a historical high [1] - The number of domestic gaming users is expected to reach 679 million, also a record high [1] Company Performance Bilibili (BILI) - Bilibili's closing price on August 4 was 22.435 USD, with a pre-market price of 23.210 USD on August 5, reflecting a 3.45% increase [1] - The stock's trading volume was 2.2305 million shares, with a market capitalization of 9.261 billion USD [1] - The stock has a 52-week high of 31.770 USD and a low of 12.720 USD [1] NetEase (NTES) - NetEase's closing price on August 4 was 130.280 USD, with a pre-market price of 133.140 USD on August 5, showing a 2.20% increase [1] - The trading volume was 536,700 shares, with a market capitalization of 82.493 billion USD [1] - The stock has a 52-week high of 141.450 USD and a low of 74.171 USD [1]

Core Viewpoint - The recent login issues experienced by multiple games under NetEase, including "Onmyoji," "Identity V," "Seven Days World," and "Dream of Jianghu," were attributed to network failures and hardware malfunctions, which have since been resolved with compensations offered to affected players [2][3]. Group 1: Game Login Issues - On August 5, players reported login failures for several NetEase games, which trended on Weibo [2]. - By 4 PM the same day, NetEase confirmed that the login issues had been fixed and compensations would be provided [2]. - "Onmyoji" announced that the login issue was due to network faults and that players would receive in-game compensation via email [2]. - "Identity V" stated that the login problem was resolved and players would receive 15 ranking treasures and 10 ranking protection cards as compensation [2]. - "Seven Days World" confirmed the resolution of the login issue and mentioned that players would receive various in-game items as compensation [2]. Group 2: Hardware Malfunction - The "Sky: Children of the Light" game reported that a hardware failure in the server room caused login issues, which have now been resolved [3]. - The official team expressed apologies for the inconvenience caused to players and confirmed that compensations would be provided [3].

Core Viewpoint - On August 5, multiple mobile games under NetEase experienced login issues, leading to the trending topic "NetEase Games Crashed" on social media platforms [1] Group 1: Game Login Issues - Players reported login failures for several popular games including "Onmyoji," "Identity V," "Seven Days World," and "A Dream of Jianghu" [1] - The official response from "Identity V" indicated that there were login anomalies and the development team was urgently working on troubleshooting [1] - "Onmyoji" acknowledged a temporary technical fault causing login issues and promised compensation for affected players once the problem was resolved [1] - The "Seven Days World" project team confirmed that some players were experiencing login issues and were actively investigating the problem [1]

Group 1 - The core issue was a significant outage affecting multiple games under NetEase, lasting over 2 hours, which led to widespread user complaints and discussions on social media [2][4] - Internal sources indicated that the outage was likely due to a network failure in the company's server infrastructure, confirmed by an official announcement regarding issues with their internal service, POPo [3][4] - NetEase has been investing in building its own data centers in Guizhou since 2022, moving key services including gaming and music to this infrastructure, which serves over 1 billion users nationwide [3] Group 2 - The last major outage for NetEase games occurred in March 2025, attributed to a network failure from their operator, China Mobile, which was resolved after urgent communication [3] - The scale of the current outage made troubleshooting difficult, with server reboots taking considerable time, as indicated by internal sources [4] - Official game teams, such as for "Identity V" and "Onmyoji," are actively working on resolving the login issues and have promised compensation to affected users [4]

Group 1 - Several games under NetEase, including "Onmyoji" and "Identity V," experienced login issues due to technical faults, prompting urgent investigations and repairs from the company [2][3] - NetEase's "Identity V" reported that the login issue was resolved within an hour, and players would receive compensation in the form of in-game items [3] - This incident is not the first large-scale login failure for NetEase games in 2023, with multiple titles facing server issues on March 3, affecting user access and daily tasks [4] Group 2 - On March 4, NetEase attributed the login issues to a severe network failure from China Mobile, which affected users relying on that service [6] - NetEase's Q1 2025 financial report indicated that revenue from games and related services reached 24 billion yuan, a year-on-year increase of 12.1% and a quarter-on-quarter increase of 13.2% [6] - Online games accounted for 97.5% of the total revenue, approximately 23.4 billion yuan, with significant contributions from "Identity V" and new titles like "Yanyun Sixteen Sounds" and "Marvel Showdown" [6]

Core Points - On August 5, multiple games under NetEase, including Onmyoji, experienced login issues due to a temporary technical fault, leading to player complaints and trending topics on social media [1][2] - NetEase's Onmyoji acknowledged the login problems and stated that they are conducting urgent troubleshooting and repairs, with compensation to be provided after the issue is resolved [1][2] Group 1 - NetEase's games faced login failures, affecting several titles including Onmyoji, Identity V, and others [1] - The company is actively addressing the technical issues and has communicated with players regarding the situation [1][2] - Compensation for affected players will be issued once the login issues are resolved [1][2]