TENCENT(HK:00700) Xin Hua Cai Jing·2026-01-13 10:53Core Insights - The global mobile game market is projected to reach $82.3 billion in 2025, with a year-on-year growth of 1.3% [1] - Chinese mobile game publishers maintain a strong market position, generating $23.3 billion in revenue, accounting for 35% of the total revenue of the top 100 publishers globally [1] Group 1: Market Overview - The overseas market revenue is expected to be $69.8 billion, reflecting a 2% increase [1] - The top 30 Chinese mobile game publishers' revenue remains stable compared to 2024 [1] Group 2: Key Players and Performance - Tencent continues to lead the global mobile game publisher revenue, with flagship titles like "Honor of Kings" and "Peacekeeper Elite" performing well [1] - "Honor of Kings" celebrates its 10th anniversary with annual revenue exceeding $2 billion, marking a 5% increase [1] - Tencent's new shooting game "Delta Force" shows significant revenue growth, contributing to the company's annual revenue increase [1] Group 3: Emerging Trends - The synthesis genre of mobile games has seen remarkable growth, with a global market size increasing by 95% to $2.4 billion [2] - DotDot Interactive's synthesis game "Tasty Travels: Merge Game" and strategy game "Whiteout Survival" drive a revenue increase of 87%, positioning the company as the second-largest Chinese publisher [2] - Lemon Sky, focusing on synthesis games, experiences a 165% revenue increase, moving up to the fourth position [2] Group 4: Gameplay Innovations - The global strategy mobile game revenue grows by 20%, surpassing $20 billion [2] - The trend of "SLG (Strategy Game) + X" gameplay fusion is becoming more pronounced, with new entries like "Last Z: Survival Shooter" and "Dark War: Survival" achieving significant revenue growth [2] Group 5: Notable Achievements - Several companies achieve notable revenue growth in their respective niches, such as Paper Games' "Love and Deep Space" with a 44% increase to $550 million [3] - Giant Network's new title "Supernatural Action Team" doubles the company's annual revenue, entering the publisher revenue rankings [3] - DotDot Interactive's "Whiteout Survival" remains the top overseas revenue generator, with annual overseas revenue exceeding $1.65 billion [3] Group 6: Overall Market Dynamics - The global mobile game market is entering a phase of stable development with slowed growth [4] - Chinese publishers are focusing on maintaining market share while exploring opportunities in synthesis, gameplay fusion, and niche genres [4] - The emphasis is shifting from scale expansion to capturing structural growth opportunities through long-term operations and innovative publishing strategies [4]