3 6 Ke·2025-10-24 03:42Core Insights - NetEase is undergoing significant personnel changes, particularly in its Dream Division, which is being restructured following the departure of key executives [1][3][58] - Despite these changes, the company continues to launch new games, with three titles released in early October, although their initial performance has been underwhelming [5][57] - The overall trend indicates a tightening of new game releases compared to previous years, with a focus on PC gaming and international expansion for mobile titles [56][57] Group 1: Personnel Changes - The producer of the game "World Beyond" has left due to disagreements with management regarding position adjustments, raising industry concerns [1] - Key executives, including the heads of the Dream Division and the Tenth Division, are also leaving, indicating a major restructuring within the company [3][58] - The Dream Division will be split and restructured, with significant titles being reassigned to different divisions [3] Group 2: New Game Releases - In October, NetEase launched three new games: "Marvel Secret Tactics," "Destiny: Stars," and "unVEIL the world," aiming to boost its product lineup [5][57] - The initial performance of these games has been disappointing, with daily revenues failing to exceed one million [7][12][20] - "unVEIL the world" has shown relatively better performance compared to the other two titles, despite lacking a major IP [34] Group 3: Market Trends - The number of new mobile games released by NetEase has decreased significantly compared to previous years, with only four major titles launched this year [37][56] - The game "Yanyun Sixteen Sounds" has performed well, achieving a total revenue of 6.43 billion RMB since its launch, indicating a strong long-term product [37][53] - The overall market share of NetEase in the top-selling games has been declining, facing competition from rivals like Tencent and emerging companies [56][57]