TENCENT(HK:00700) Sou Hu Cai Jing·2026-02-23 07:48Group 1 - Tencent's North American studio, TiMi Montreal, has quietly ceased operations, confirmed by employees on LinkedIn despite no official announcement [1][3] - Established in 2021 and led by Ashraf Ismail, the studio aimed to create AAA, open-world, cross-platform games but has not released any complete titles in five years [3][6] - The studio primarily worked on internal projects and adaptations of existing IPs, such as "Pokémon Unite" and "Call of Duty Mobile," rather than developing original content [3][5] Group 2 - The failure to produce a new IP is a significant issue for a studio focused on AAA development, as the expectation is to create a major console-level game [6] - The gaming industry recognizes that AAA game development is extremely costly and time-consuming, often taking over five years for a mature project [7] - TiMi Montreal's challenges may stem from shifting directions and poorly defined project goals, leading to many unproductive ideas during the pre-research phase [9] Group 3 - The closure of TiMi Montreal reflects a broader trend among Chinese gaming companies, including NetEase, which are downsizing or closing overseas studios due to high labor costs and uncertain returns [10] - In North America, the annual salary for a senior developer can be several times higher than in China, resulting in astronomical labor costs for large teams [10] - The perception that investing heavily guarantees the creation of AAA titles is being reevaluated, as success relies more on systems, experience, and long-term accumulation rather than merely financial investment [12]