TENCENT(HK:00700) Mei Ri Jing Ji Xin Wen·2025-08-20 10:20Core Insights - The launch of "Delta Operation" on PS5 and Xbox marks a significant milestone for Tencent, enhancing its presence in the console gaming market [1][3] - The game has achieved impressive metrics, including an average daily active user count of over 20 million and ranking among the top in revenue generation [3][12] Financial Performance - Tencent's Q2 2025 report indicates domestic game revenue of 40.4 billion yuan, a 17% year-on-year increase, driven by "Delta Operation" and other established titles [3] - The game broke historical records by reaching the second position on the iOS sales chart shortly after the launch of its S5 season [3] Market Opportunities - The console gaming market in China is experiencing rapid growth, with the number of home consoles expected to exceed 28 million units by 2024, representing over 120% growth since 2021 [7][8] - There is a notable demand for high-quality FPS games, with 27% of console players expressing interest in search-and-shoot genres, indicating a supply gap in this segment [7] Product Development and Strategy - "Delta Operation" has successfully adapted to console platforms, addressing cross-platform development challenges and enhancing user experience through tailored controls and gameplay mechanics [4][6] - The game’s multi-platform strategy is seen as a catalyst for growth in both PC and console markets, leveraging market demand and product supply [10][11] Industry Trends - The trend of mobile game developers expanding into PC and console markets is gaining momentum, with several leading companies, including Tencent, actively pursuing multi-platform strategies [10] - The success of "Delta Operation" serves as a model for domestic game developers, showcasing how to penetrate the global market through multi-platform strategies [12]