文｜超聚焦 虚拟世界的"超级基建狂魔"，即将告别中国？ 2月24日，据彭博社报道，总部位于旧金山的3D引擎软件公司Unity Software正在探索其中国业务的各种 可能性，包括潜在出售Unity中国业务。 消息一出，行业震动。要知道，这绝不是一家普通的跨国边缘业务。从《王者荣耀》、《原神》等国民 级手游的底层架构，到如今中国市场极度内卷的新能源汽车3D智能座舱，背后跳动的几乎都是同一 颗"心脏"Unity引擎。 就在2022年，Unity才刚刚拉拢阿里、米哈游、中国移动等本土巨头，高调成立合资公司Unity中国，试 图牢牢绑定这块巨大的市场蛋糕。然而短短几年过去，剧情却迎来了180度的大反转。 曾经费尽心机想要"扎根"的跨国巨头，为何如今却急于彻底套现离场？而在AI技术降维打击、自身股价 剧烈震荡的当下，退守大本营的Unity，究竟又面临着怎样的生存危机？ 01拉阿里米哈游组局三年最后还是要"分手" 卖掉中国业务，绝不是一次突如其来的冲动。 2022年8月，Unity全球做出了一个在外企圈子里颇为罕见的决定，他们将中国区的业务单独剥离，成立 了一家合资公司。而为了让这家新公司足够有分量，Unity一口气拉 ...

除此之外，榜单尾部上榜厂商收入数据变化情况则呈现完全相反的趋势，包括Appxy、大华科技(SZ:002236) 、Easyroid以及哔哩哔哩(NASDAQ:BILI) 在 内的多个厂商上月海外收入皆有小幅增长。与此同时，旗下运营有《 Fachat 》、《 Lumi 》等视频交友应用的VeePro凭借连续以来的在海外收入端的稳定 表现也于近一年以来首度上榜。此外，上月排名有所上升的厂商还有畅读科技以及WEO Technology Limited。 依托互联网移动应用大数据平台"点点数据"（https://app.diandian.com/），点点出海基于App Store和Google Play两大应用市场，整理中国应用&游戏出海 厂商Top30收入榜，希望帮助从业者更好地了解移动应用出海领域的趋势和变化。 本文统计周期为2026年1月1日到2026年1月31日。 | | 1月中国非游戏厂商出海收入榜 | | | | | | --- | --- | --- | --- | --- | --- | | | 2026年1月1日-1月31日 | | | | app.diandian.com | | 排名 | 公司 ...

Core Viewpoint - Unity Software is evaluating various options for its China business, including a potential sale, with a valuation target exceeding $1 billion [1] Group 1: Company Overview - Unity Software, founded in 2004, is a leading real-time 3D content creation and operation platform, widely used in video game development, virtual reality, augmented reality, and other fields [2] - Unity entered the Chinese market in 2012 and established a joint venture, Unity China, in August 2022, with investments from major local companies like Alibaba and ByteDance [2] Group 2: Product Development and Challenges - Unity China launched the "Unity Engine" to better adapt to local development needs, integrating with platforms like WeChat and Douyin [2] - The "Unity Engine" has faced criticism for being a stripped-down version of Unity 6, with fewer features and potential compatibility issues for developers [3] - Unity is under pressure from competitors like Epic Games' Unreal Engine and local engines like Cocos, which are expanding rapidly in the gaming market [3] Group 3: Financial Performance - For the fiscal year 2025, Unity reported revenues of $1.85 billion, a slight increase of 2.04% year-over-year, while narrowing its net loss from $664 million in 2024 to $403 million [5] - In Q4 2025, Unity achieved revenue of $503 million, exceeding market expectations, but the stock price fell over 25% due to conservative Q1 2026 guidance [8][9] Group 4: Market Reactions and Future Outlook - Following the news of a potential sale of its China business, Unity's stock rose by 1.59% [12] - The company faces significant challenges from AI advancements that could disrupt traditional game development, as highlighted by the introduction of new AI tools by competitors [11][12]

Core Insights - The report by Black Cat Data Center and Black Cat Complaint Platform reveals that the gaming industry faced over 135,000 complaints in 2025, marking a 35% increase from 2024 [1][2] Complaint Distribution - Complaints related to minors seeking refunds accounted for over half (50.14%) of the total complaints, followed by account issues (19.78%), false advertising (15.61%), game bugs (5.70%), and erroneous charges (5.64%) [1][2] Regulatory Context - Recent regulations aimed at preventing minors from becoming addicted to online games have been implemented, including the 830 New Regulations and the Minor Protection Regulations. These measures have led to a significant reduction in gaming time and spending among minors, with 71% of minors gaming less than 3 hours per week and 90.4% not exceeding monthly spending limits [3] Issues with Minor Protection - Despite improvements, issues remain in the protection of minors, such as the prevalence of minors using accounts of parents or relatives to bypass restrictions, with over 70% of minors engaging in this practice [3] Major Game Companies and Complaint Rates - Tencent and NetEase are the leading companies in terms of complaint volume, followed by Giant Network, Paper Games, Mihayou, Xiaomi Games, Xindong Games, Tuyou Games, Thunder Games, and Perfect World. Most companies have a complaint response rate close to 100%, except for Giant Network and Thunder Games, which have response rates of approximately 80% and 20%, respectively [4] Collective Complaints - Collective complaints have emerged as a significant trend in 2025, with 36 collective complaints leading to a total of 6,647 complaints. The most notable issue involved the game "Love and Deep Space," where players complained about the low drop rate of a specific character card [6][9] Specific Game Issues - High complaint volumes were also noted for issues such as the opaque card-drawing mechanism in NetEase's "Pro Evolution Soccer" and dissatisfaction among players regarding promotional recharge offers in Thunder Games' "Dao You Come Dig Treasure" [7][9] Complaint Handling Rates - The handling rates for specific games are as follows: "Love and Deep Space" (98.24%), "Pro Evolution Soccer" (93.54%), "Dao You Come Dig Treasure" (0.83%), "Star Marks Resonance" (100%), and "QQ Dance" (2.58%) [8]

相较起来，游戏行业的「平淡」或许已经是一个不错的消息。Sensor Tower数据显示，今年春节档游戏iOS端收入约为4.4亿美元，和去年春节档相比仅下 滑0.03%，变化幅度微乎其微。 游戏新知根据Sensor Tower数据整理了春节假期前后（2月14日~2月23日共10天）的游戏产品表现，当中仅统计了国内iOS端的数据。 今年春节档刚刚结束了。 娱乐行业的市场发生了些许变化。拿电影院线举例，今年春节电影票房为57.52亿元，观影人次为1.20亿，相比2025年的116.34亿元和2.4亿人次下滑了整整 一半。人们似乎不再无脑为电影掏钱，而是想要为更好的内容而消费。 通过春节档，一方面能够看到一些强势的新品依旧在发力，比如《无畏契约：源能行动》《超自然行动组》《我的花园世界》。另一方面，伴随着春节假 期的社交场景、流量爆发，也为部分产品带来了创收的窗口期。 从春节档的收入表现来看，排名前30名的产品中出现了4款新品，另外有12款产品相比去年春节档出现了收入上涨。 | | | | | 2026年春节档游戏收入排名(国内iOS) | | | | | | | --- | --- | --- | --- | -- ...

合成，无疑是 2025 年最热的出海词汇之一，与之相关的关键词，还有柠檬微趣、不断抬高的月流水、北京厂商等等。 而进入 2026 年，合成品类在一开年又刷新了成绩。AppMagic 最新公布的数据显示，柠檬微趣旗下的「Gossip Harbor」已经凭借超过 7900 万美元的分成 后收入登顶 1 月出海手游收入榜，超越了一众 SLG 产品。 | | Gossip Harbor®: Merge & Story | | 16 | 鸣潮 | | | --- | --- | --- | --- | --- | --- | | | 柠檬微趣 | | | 库洛游戏 | | | 2 | Whiteout Survival | | 17 | 明日方舟:终末地 | | | | 点点互动 | > | | 鹰角网络 | 新入榜 | | 3 | Kingshot | | 18 | 恋与深空 | | | | 点点互动 | | | 叠纸游戏 | | | 4 | Last Z: Survival Shooter | | 18 | Age of Origins: Tower Defense | | | | Florere Game | | ...

经济日报记者 李治国 证券日报记者 占健宇 当前消费结构升级已步入新阶段，面对有效释放内需潜力的现实需要，该如何培育服务消费新增长 点？近年来，上海市徐汇区顺应消费升级趋势，探索文商旅体展深度融合的有效路径，通过资源整合与 场景再造，重塑消费生态、释放消费潜能，不断开拓消费增长新空间。 傍晚时分的上海徐汇滨江，华灯初上，龙美术馆在暮色中熠熠生辉。馆内，人们沉浸在艺术盛宴 中；馆外，滑板少年在台阶上腾跃，跑步爱好者沿着江畔穿梭。几步之遥的西岸梦中心商场里，看完展 览的观众在挑选艺术衍生品……这幅充满烟火气的城市生活画卷，正是徐汇区文商旅体展深度融合的生 动写照。 2025年，徐汇区区域经济总量达4153.08亿元，位列中心城区第一。亮眼经济数据背后，是一场 从"单点业态"到"系统融合"的深刻变革。上海市徐汇区委书记曹立强表示，徐汇区正聚焦扩大内需，立 足国内大市场促进消费，推动文商旅体展深度融合，让新需求创造新增长。近日，记者深入走访，探索 徐汇区融合多业态、打造新生态的路径和经验。 场景串联激发潜能 2025年10月，综合性极限运动盛会"FISE城市运动嘉年华"在徐汇滨江举行。专业赛道上，滑板、小 轮车选手的 ...

Summary of Conference Call Records Industry Overview - The conference call focuses on the gaming industry, highlighting the impact of AI and new technologies on industry development and the anticipation of upcoming annual and quarterly reports [1][2]. Key Companies and Highlights - **Century Huatong**: Achieved notable rankings in the global mobile game export list for January, with "Whiteout Survival" at second, "Kingshot" at third, "TTM" at tenth, and "Truck Star" at twenty-ninth. The company has a high overseas game revenue share, with new games "TTM" and "Truck Star" showing significant growth in December and January [1]. - **Giant Network**: The game "Evergreen" is expected to innovate during the Spring Festival, having launched in Hong Kong and Macau on November 27. As of January 31, the daily active users (DAU) surpassed 100 million, with upcoming Valentine's Day and Spring Festival events anticipated [1]. - **37 Interactive Entertainment**: The mini-program game "Find the Book" has consistently ranked in the top five, with a launch in Hong Kong and Macau on January 15. The company has a rich pipeline of new products [1]. - **Kying Network**: The "Legend Box" is expected to create platform growth, with the AI companion application "Find the Book" scheduled for release on March 14 [1]. - **G-bits**: Launched a new Three Kingdoms-themed SLG game "Find the Book" on December 18 [1]. - **Perfect World**: The key game "Find the Book" has completed its third testing phase, receiving high ratings on Bilibili and Taptap [1]. - **Xindong Company**: Launched "Find the Book" overseas on January 8, with another release planned for February 6 [1]. Market Opportunities - The overseas market and the female gaming segment present significant opportunities for the industry. In the Chinese market, sales revenue is projected to reach 168 billion yuan in the first half of 2025, a year-on-year increase of 14.08%, with a user base of 679 million, up 0.72% year-on-year [2]. - The global mobile gaming market is shifting from user growth to consumption power enhancement, with expected revenue of $81.7 billion in 2024, reaching a three-year high. Chinese self-developed games are projected to generate $9.5 billion in overseas revenue in the first half of 2025, a year-on-year increase of 11% [2]. - The market for female-oriented games is expected to reach 8 billion yuan in 2024, with a growth rate of 124.1%, significantly outpacing the overall market [2]. - Policy changes are supporting the industry, with over 140 domestic game licenses expected to be issued monthly by 2025, promoting game exports and positioning gaming as a new consumer driver [2]. Technological Impact - The application of AI and other technologies in the gaming industry is showing promising results. Since 2023, AI has been integrated into game production and advertising, leading to significant cost reductions and efficiency improvements, particularly in art production [3]. - Emotional companion games are identified as a key area for AI application in the short term, with Kying Network's product "Find the Book" set for public testing on March 14 [3]. - Other technological advancements, such as brain-machine interface technology, are seen as potential commercial applications for the gaming sector, with companies like 37 Interactive Entertainment investing $20 million in related technologies [3]. - Marketing strategies like GEO marketing are expected to influence game distribution, with 37 Interactive Entertainment investing in leading domestic tech companies [3]. - Giant Network is collaborating with Volcano Engine on AI NPCs [3].

当前消费结构升级已步入新阶段，面对有效释放内需潜力的现实需要，该如何培育服务消费新增长点？ 近年来，上海市徐汇区顺应消费升级趋势，探索文商旅体展深度融合的有效路径，通过资源整合与场景 再造，重塑消费生态、释放消费潜能，不断开拓消费增长新空间。 傍晚时分的上海徐汇滨江，华灯初上，龙美术馆在暮色中熠熠生辉。馆内，人们沉浸在艺术盛宴中；馆 外，滑板少年在台阶上腾跃，跑步爱好者沿着江畔穿梭。几步之遥的西岸梦中心商场里，看完展览的观 众在挑选艺术衍生品……这幅充满烟火气的城市生活画卷，正是徐汇区文商旅体展深度融合的生动写 照。 2025年，徐汇区区域经济总量达4153.08亿元，位列中心城区第一。亮眼经济数据背后，是一场从"单点 业态"到"系统融合"的深刻变革。上海市徐汇区委书记曹立强表示，徐汇区正聚焦扩大内需，立足国内 大市场促进消费，推动文商旅体展深度融合，让新需求创造新增长。近日，记者深入走访，探索徐汇区 融合多业态、打造新生态的路径和经验。 场景串联激发潜能 一场场精彩活动、一串串亮眼数据，都源自徐汇区精心打造的融合发展体系。从顶层设计到基层落地， 从政策引导到市场响应，这里构建了一套多层次、立体化的生态，让融 ...

Core Insights - The integration of culture, tourism, commerce, and sports in Xuhui is aligned with national strategies to promote deep integration of cultural and tourism development, enhancing consumer potential and economic growth [1][2][4] Group 1: Economic Impact - By 2025, the economic output of Xuhui District is projected to reach 415.308 billion yuan, ranking first among central urban areas [1] - During the FISE Urban Sports Carnival, the core business district received 328,400 visitors, with daily sales increasing by 35.29% compared to pre-event levels [2] - The Era Youth Concert generated 156 million yuan in sales over four days, attracting 1.9617 million visitors, with surrounding hotels experiencing a 75% revenue increase [2] Group 2: Event-Driven Consumption - Xuhui has successfully utilized event-driven strategies to stimulate consumption, with the UFC event attracting over 70% of attendees from outside the city, resulting in an average spend of 3,410 yuan per person [2] - The introduction of high-quality IP events, such as the LEGO World Play Festival and Disney experiences, has significantly enhanced consumer engagement and foot traffic [3] Group 3: Ecosystem Development - Xuhui has established a multi-layered ecosystem for sustainable development, integrating government, platforms, and enterprises to enhance collaboration and resource utilization [5][6] - The "West Bank Life" online community service platform has over 2 million members, facilitating ticketing and service information across various cultural and commercial venues [7] Group 4: Future Strategies - Future plans include leveraging digital technology to create a "Shanghai International Technology Consumption Functional Zone," enhancing consumer experiences through VR/AR and other innovations [8] - Experts suggest focusing on internationalization, immersive experiences, and proactive engagement in hosting international events to further enhance Xuhui's appeal [8]