TENCENT(HK:00700) Mei Ri Jing Ji Xin Wen·2025-04-23 09:18Core Insights - Tencent Games held the "SPARK2025" event, showcasing 46 game updates, including 24 new titles across various platforms [1][2] - The event marks Tencent's first major business display following the release of its 2024 financial report, which indicated total gaming revenue of 197.7 billion yuan [2][12] - Tencent aims to build a "production + distribution + investment" ecosystem to enhance its market share and secure future technologies amid a slowing industry growth [2][13] Game Production - Tencent's subsidiaries, including TiMi, Lightspeed, and others, presented 18 game updates, with several titles entering pre-registration or testing phases [5] - The flagship IP "Honor of Kings" announced multiple derivative projects, including an animated series and esports events, with the KPL finals expected to attract 50,000 viewers [5] - The game "Call of Duty Mobile" achieved over 1 billion global downloads in 2024, with plans for collaborations with other major IPs [6] Game Distribution - Tencent showcased 13 new games and 7 updates for popular titles, highlighting its diverse distribution strategy [8] - The domestic version of "Path of Exile 2" is set for a pioneer test this year, while "THE FINALS" will enter public testing in the second half of the year [8] - Tencent is focusing on cross-platform strategies, with several games enabling data interoperability between mobile and PC versions [9] Investment Strategy - Tencent's investment strategy emphasizes global expansion and exploration of innovative game genres, showcasing works from 8 invested studios [10] - A notable investment includes Tencent's 1.16 billion euro (approximately 9 billion yuan) stake in Ubisoft's new subsidiary, enhancing its presence in the AAA game sector [10] - The trend of "going global" is recognized as a common strategy among game developers, with companies like Century Huatong also achieving significant success in overseas markets [11] Future Outlook - Tencent's gaming business is expected to continue stable growth, although it faces challenges such as high dependency on core products and increasing global competition [12] - The company plans to increase R&D investments, particularly in AI technology, and enhance its global operational capabilities [13] - The "SPARK2025" event's showcased products and technological innovations reflect Tencent's strategic initiatives to optimize its gaming business structure and reshape industry competition [13]