TENCENT(HK:00700) Di Yi Cai Jing·2025-11-09 01:14Core Insights - Esports is transitioning from a niche market to mainstream recognition, highlighted by the KPL finals held at the National Stadium, where Chengdu AG Super Play defeated Chongqing Wolves, marking a significant milestone for Chinese esports [1][4] Industry Overview - The KPL finals achieved record-breaking attendance with over 62,000 spectators, setting a Guinness World Record for the largest audience at a single esports event [5] - The mobile game "Honor of Kings," under Tencent, has a daily active user base of 139 million in China and over 260 million globally, maintaining its position as the top-grossing mobile game from 2022 to 2024 [5] - The esports industry in China is recovering from a downturn in 2022-2023, with a reported revenue of 12.76 billion yuan in the first half of 2025, reflecting a year-on-year growth of 6.1% [5] - The user base for esports in China is nearing 493 million, with a slight increase of 0.59% year-on-year [5] Future Projections - The esports sector is expected to see more international events in the next two years, with a focus on diversifying content beyond traditional competitions [5] - The Chinese esports market is projected to exceed 300 billion yuan by 2026, contributing to a surrounding industry scale of over 1 trillion yuan, positioning it as a key growth driver in China's digital economy [7]