米哈游“忍不了”，追责260人

Core Viewpoint - MiHoYo has taken significant legal action against game content leaks, reflecting its challenges in maintaining growth after rapid expansion, despite continued revenue from its flagship games, Genshin Impact and Honkai: Star Rail [2][12]. Group 1: Legal Actions and Industry Impact - MiHoYo's "Special Action Against Game Leaks" has resulted in criminal measures against leakers and court orders to cease infringement activities [2][3]. - The leaked content includes unreleased game features and software testing packages, with over 260 leakers held accountable [3][5]. - Industry experts warn that leaks can lead to competitors mimicking content, potentially damaging MiHoYo's reputation as an original creator [5][6]. Group 2: Revenue and Market Position - Genshin Impact has consistently contributed over 70% of MiHoYo's revenue since its launch in 2020, while Honkai: Star Rail has become the second major revenue source since its release in 2023 [3][7]. - MiHoYo has faced challenges in maintaining its position among the top three mobile game publishers in China, being surpassed by Tencent and NetEase [7][10]. Group 3: Player Engagement and Game Lifecycle - Genshin Impact is entering its fifth year, facing declining player engagement as content consumption outpaces updates, leading to player fatigue [10][11]. - Players have expressed dissatisfaction with the game's monetization mechanics, particularly regarding the high costs associated with acquiring rare characters [10][11]. - MiHoYo's new title, Honkai: Star Rail, has underperformed, generating only one-third of the revenue of Honkai: Star Rail in its first month and dropping out of the iOS top 100 within 41 days [10][11]. Group 4: Future Prospects and Competition - MiHoYo is exploring new game genres, as seen with the upcoming release of Honkai: Inheritance Spirits, which aims to broaden its audience [11][12]. - The company faces competition from Tencent in the new game genre, indicating a challenging landscape ahead [12].