从区域深耕到全球适配：中手游出海增长的进阶之路

Core Insights - The core viewpoint of the article emphasizes that the overseas expansion of Chinese gaming companies, particularly CMGE, is becoming essential due to the competitive nature of the domestic mobile gaming market. CMGE's overseas revenue reached 235 million yuan in the first half of 2025, accounting for 30.8% of total revenue, marking a 33.2% year-on-year growth [1][9]. Group 1: Overseas Expansion Strategy - CMGE's overseas strategy follows a clear "domestic-foreign" progression, where products are first validated in the Chinese market before being systematically introduced to culturally similar overseas regions [3][11]. - The game "New Sword and Fairy: Swinging Sword to Ask for Love" achieved over 8 million pre-registrations and generated over 200 million yuan in its first month domestically before launching in Hong Kong, Macau, and Taiwan, topping the free and sales charts in those regions [3][11]. - Another product, "New Legend of the Condor Heroes: Blood and Heart," maintained a leading position domestically before launching overseas five months later, achieving rapid success in the Hong Kong, Macau, and Southeast Asian markets through localized adaptations [3][11]. Group 2: Product Development and Localization - CMGE's approach is not merely about replicating successful products but involves deep adaptation of content, pacing, and marketing strategies to fit regional characteristics, thereby forming a reusable and refined overseas expansion model [4][12]. - The adaptation of the top national comic IP "Dou Po Cang Qiong: Peak Showdown" successfully integrated into users' daily lives, achieving high rankings in multiple regions after its overseas launch [4][12]. Group 3: Industry Trends and Future Challenges - Despite success in culturally similar markets, CMGE faces challenges in expanding into Western markets, where preferences lean towards original IPs and open-world gameplay, necessitating fundamental innovations in product design and cultural expression [6][13]. - The industry is evolving towards a hybrid monetization model centered on "free download + ad monetization," which now accounts for over half of global gaming revenue. CMGE is reportedly developing numerous IAA products for overseas validation [6][13][14]. - Future product launches include "Three Kingdoms: Heroes of the Flames" in multiple Asian markets, with plans for further expansion into Vietnam and South Korea, highlighting the need for CMGE to respond flexibly to global market dynamics [6][14]. Group 4: Overall Assessment - CMGE's 30.8% growth in overseas revenue is a rational outcome based on its regional deepening, IP operation, and gradual expansion strategy, reflecting a broader trend in the globalization of the Chinese gaming industry [8][16].