世纪华通总裁谢斐：游戏行业，缺少真正有品牌价值的IP | 财之道

Core Insights - Century Huatong's president, Xie Fei, expressed optimism about the long-term operation of the game "Endless Winter," aiming for an operational lifespan of eight to ten years [3][4] - The company has seen significant revenue growth, largely attributed to the success of its subsidiary, Didi Interactive, and its games "Endless Winter" and "Kingshot," which ranked first and second in the Sensor Tower's July 2025 China mobile game overseas revenue rankings [4][5] - Xie Fei highlighted the undervaluation of many high-performing companies in the capital market, particularly in the gaming sector, where there is skepticism about the sustainability of revenue and profit [5][6] Revenue Growth - The substantial revenue increase this year is primarily due to the strong performance of Didi Interactive's "Endless Winter," which has shown remarkable longevity [4] - The game "Kingshot," launched in February, exceeded expectations and achieved a top-five ranking in the mobile game overseas revenue chart by May, contributing to the overall revenue growth [4][5] - Century Huatong's games, including those from Shengqu Games, have maintained stability and even small-scale growth despite the typical decline expected over long lifecycles [5] Market Valuation - Despite the stock price increase due to strong performance and the overseas gaming boom, there was a nearly 10% drop in mid-July, leading to discussions about market speculation [5][6] - The gaming industry often suffers from a lack of confidence in sustained growth, as many believe that a company's success is tied to the performance of individual games [6] - Century Huatong's consistent performance over the past two years has demonstrated a trend of sustained growth, which may lead to a market value correction [6] AI Integration - AI is seen as a transformative force in the gaming industry, with the potential to revolutionize core processes and enhance creativity [7][8] - The company has integrated AI tools into its development processes, allowing for significant cost reductions and enabling staff to focus on deeper innovation [8][9] - AI is now a key performance indicator (KPI) in the company's internal assessments, emphasizing the importance of AI proficiency among employees [10] Strategic Investments - Century Huatong has made significant investments in AI computing infrastructure, which is expected to yield returns as the demand for computing power grows [11] - The company has established stable computing centers in collaboration with major clients like Tencent and Huawei, indicating a successful strategic move [11] Industry Trends - The gaming industry is experiencing intense competition, with companies seeking new growth avenues, such as overseas markets [12][13] - Xie Fei noted that true innovation in the industry may involve finding new market opportunities rather than just technological advancements [13][14] - The company emphasizes the importance of focusing on core competencies and deepening expertise to navigate industry challenges [14] Brand Value and User Engagement - The gaming industry lacks truly valuable IPs, with many games failing to achieve long-term brand recognition [15] - Modern gamers seek multidimensional experiences that go beyond mere entertainment, including emotional engagement and unique interactions [15][16] - Century Huatong's older games are adapting to these new user demands by introducing fresh content and maintaining long-term engagement [15][16]