传媒：2月游戏市场实现移动端与客户端双增长

Investment Rating - The report maintains an investment rating of "Leading the Market" for the gaming industry, indicating an expected investment return exceeding 10% over the next six months compared to the CSI 300 Index [1]. Core Insights - The gaming market in China experienced growth in both mobile and client-side segments in February 2024, driven by the Spring Festival and concentrated gaming operations [1]. - The market size reached 24.875 billion yuan in February 2024, with a month-on-month increase of 2.17% and a year-on-year increase of 15.12% [1]. - The client-side market size was 5.642 billion yuan, showing a month-on-month growth of 0.75% and a year-on-year growth of 5.94% [1]. - Mobile gaming revenue was 18.255 billion yuan, with a month-on-month increase of 3.21% and a year-on-year increase of 17.88% [1]. - The report highlights the strong performance of established games during the Spring Festival, with promotional activities contributing to revenue growth [1]. Summary by Sections Market Performance - The gaming market's growth was significantly influenced by the Spring Festival, with major games launching promotional events [1]. - The top 100 bestselling games saw 30 new entries, indicating a stable influx of new products while maintaining a competitive landscape [1]. Revenue Breakdown - The mobile gaming segment is projected to grow rapidly, with the domestic mini-game market expected to reach 60 billion yuan in 2024, accounting for 20% of the overall gaming market [1]. - Global mobile game revenue reached 6.5 billion USD in February 2024, with a year-on-year growth of 7.7% [1]. Investment Recommendations - The report suggests focusing on companies such as Tencent Holdings (0700.HK), NetEase (9999.HK), Perfect World (002624.SZ), and others for potential investment opportunities in the gaming sector [1].