智通财经网·2025-10-22 23:20Core Insights - The Chinese gaming industry is experiencing a high prosperity cycle, with 159 domestic games approved in October, indicating strong demand and supply dynamics [1][2] - The A-share gaming sector has shown significant growth, with the Shenwan secondary gaming index up approximately 66% year-to-date, ranking eighth among all Shenwan secondary industries [2] - The approval of new game titles, including major releases from Tencent and other listed companies, suggests ongoing innovation and market expansion [1][4][5] Domestic Game Approvals - In October, 159 domestic games received approval, with 73 categorized as mobile-casual and 70 as mobile games [1] - Notable titles include Tencent's "八荒奇旅," 37 Interactive's "生存33天," and others from companies like ST中青宝 and 祖龙娱乐 [1][4] Import Game Approvals - Seven new imported games received approval in October, including "蜡笔小新" from 游族网络 [2] - The total number of game approvals for the year has reached 1,441, maintaining a steady monthly issuance rate [2] Market Performance - The gaming sector has seen substantial stock price increases, with companies like 巨人网络 and 吉比特 experiencing over 210% and 110% growth, respectively [2] - The current valuation of the gaming sector remains attractive, prompting recommendations for increased investment [2] Future Growth Projections - Omdia forecasts that the total revenue from gaming subscriptions in the Asia-Pacific region will grow from $6.5 billion in 2025 to $9.4 billion by 2029, outpacing global averages [3] - The domestic self-developed online gaming market saw a 19% year-on-year growth in the first half of the year, indicating a robust recovery and innovation cycle [3] Company Performance Highlights - Tencent reported a revenue of 364.53 billion yuan in the first half of the year, with a 13.7% year-on-year increase, driven by its gaming and social services segment [4] - 祖龙娱乐 achieved a revenue of 634 million yuan in the first half of 2025, a 44.4% increase compared to the previous year, attributed to new game launches [4] - 友谊时光's revenue reached 623 million yuan, marking an 18.5% increase, with a significant turnaround in profitability [5] - 网易 reported a net income of 56.72 billion yuan, with gaming-related services showing a 13.7% year-on-year growth [6]