TENCENT(HK:00700) 3 6 Ke·2026-01-05 08:43Core Insights - The global mobile game revenue is projected to grow by 0.5% year-on-year in 2025, with eight titles surpassing $1 billion in revenue after platform cuts [1] - Tencent leads the revenue rankings with six titles contributing over $4 billion to its total revenue [2][10] - The mobile game download volume is expected to increase by 4.6% year-on-year, with over 50% of the top 30 games achieving over 100 million downloads [1] Group 1: Revenue Highlights - "Honor of Kings" retains the top position with an estimated revenue exceeding $1.6 billion in 2025, achieving a record high of over $1.8 billion in January [6] - "Delta Force" has emerged as a significant growth driver for Tencent, with total revenue exceeding $355 million and a ranking increase of 557 places [6][8] - "Last War: Survival" ranks second with total revenue surpassing $1.5 billion, reflecting a 40% year-on-year growth [11] Group 2: Performance of New Titles - "Gossip Harbor" and "Kingshot" are notable new entries in the top 30, with "Gossip Harbor" achieving a total revenue of $550 million, marking a 190% year-on-year increase [20][27] - "Kingshot" is the only new title in the 2025 rankings, showcasing the potential for new games to capture market share [1][27] Group 3: Market Trends - The strategy game segment shows strong performance, with 70% of the top 30 games being mid-core, primarily in strategy and RPG genres [1][11] - Chinese developers have a significant presence, with 12 titles in the top 30, highlighting the growing influence of Chinese gaming companies in the global market [2][27] - The competitive landscape is intensifying as companies innovate gameplay and content to cater to both local and international markets [27]