Core Insights - The 2025 Cologne International Game Show has opened in Cologne, Germany, showcasing an increased presence and enthusiasm from Chinese gaming companies compared to the previous year [2] Industry Summary - The scale of participation by Chinese gaming companies has further increased, with numerous Chinese booths visible throughout the exhibition [2] - Many new game titles are available for trial, attracting long queues of visitors, indicating strong interest and engagement from attendees [2] - Chinese gaming companies are entering the European market with greater confidence, reflecting a shift in their international strategy [2]

Core Insights - The release of the new game "Black Myth: Zhong Kui" has generated significant market attention following the success of its predecessor "Black Myth: Wukong" [1][3] - The game leverages Chinese traditional culture and modern design to attract a global audience, marking a potential pathway for Chinese games to achieve world-class cultural status [1][7] Industry Overview - The game industry is a crucial segment of China's service trade, with an increasing number of domestic games captivating millions of overseas players through cultural and technological innovation [7] - In the first half of 2025, China's self-developed games are projected to generate overseas revenue of $9.501 billion, reflecting a year-on-year growth of over 11%, indicating a return to the peak growth rates of 2021 [7] Product Performance - "Black Myth: Wukong," the first domestic AAA game, achieved remarkable success with over 28 million copies sold and total revenue exceeding 9 billion yuan, setting records for both sales and revenue in China's buyout game history [5] - The game's launch led to significant cultural tourism impacts, with certain in-game locations becoming popular tourist destinations [5] Anticipation and Development - "Black Myth: Zhong Kui" is currently in development, with no gameplay demonstrations available yet, but it has already garnered nearly 10 million views on its teaser trailer [3] - The game is expected to follow a similar model to "Black Myth: Wukong," which could further enhance the scale of the domestic single-player game market beyond 10 billion yuan if it maintains the same quality [7]

Core Viewpoint - The announcement of the new game "Black Myth: Zhong Kui" by Game Science at the Cologne Game Show highlights the potential of Chinese mythology in gaming, with Zhong Kui as a culturally rich character that can promote traditional Chinese culture [1][6]. Group 1: Game Development and Strategy - "Black Myth: Zhong Kui" is the second installment in the "Black Myth" series, following the successful "Black Myth: Wukong," which generated total revenue of $980 million across all platforms [7]. - The game is a standard single-player action role-playing game, with a business model similar to its predecessor, currently in the early development stage [5]. - Game Science aims to explore different gaming experiences and challenge traditional gameplay mechanics with "Black Myth: Zhong Kui," indicating a desire for innovation in storytelling and gameplay [2][5]. Group 2: Cultural Significance and Market Potential - Zhong Kui, as a well-known mythological figure, has a wealth of stories that can serve as a strong foundation for game narratives, although its popularity is not as widespread as other characters like Nezha or Jiang Ziya [6]. - The success of "Black Myth: Wukong" demonstrates the potential for Chinese game IPs in international markets, with 30% of its players being overseas [7]. - The Chinese gaming industry is experiencing growth in overseas markets, with actual sales revenue expected to reach $18.557 billion in 2024, marking a 13.39% year-on-year increase [8]. Group 3: Challenges and Future Outlook - There are concerns about the saturation of similar game types in the market, which may lead to aesthetic fatigue among players and highlight a lack of originality in domestic game development [8]. - The establishment of a sustainable Chinese game brand IP requires ongoing development and innovation, with "Black Myth: Wukong" serving as a foundational piece [9]. - Recommendations for Chinese game developers include ensuring high-quality technology, aligning narratives with contemporary emotions, and enhancing global marketing strategies [9].

Core Viewpoint - The gaming sector is experiencing a strong performance, with notable growth in revenue from Chinese mobile games overseas, indicating the effectiveness of domestic companies' global strategies [1][2]. Group 1: Market Performance - On August 14, the gaming sector showed resilience, with the gaming ETF (159869) rising nearly 1.5% [1]. - Among the top gainers were companies like Ice Glacier Network, Giant Network, Zhejiang Shuzhu Culture, Shenzhou Taiyue, and Kaiying Network, while companies such as Beiwai Technology, Shunwang Technology, and Baotong Technology faced declines [1]. Group 2: Revenue Growth - According to Sensor Tower, the mobile game "Kingshot" by Diandian Interactive ranked second in the July revenue list, with a 34% month-on-month increase, achieving a total global revenue of over $200 million by the end of July [1]. - Perfect World’s game "Persona 5: The Phantom X" debuted at 23rd on the list, with a remarkable 128% increase in revenue month-on-month [1]. Group 3: Industry Trends - The performance of Chinese mobile games overseas is robust, showcasing significant revenue growth for multiple titles, which highlights the success of domestic companies' global expansion efforts [1]. - The current trend in Chinese gaming exports is characterized by a "blooming" situation, necessitating the consolidation of existing advantages while also fostering new growth points [1]. - Companies are encouraged to diversify their game offerings, balancing traditional and innovative elements to meet the diverse global market demands, thereby creating a more competitive product matrix for overseas markets [1].

Core Insights - The report titled "China Game Going Abroad Guide - Korea Edition" was jointly published by Gamma Data and the China Audio-Video and Digital Publishing Association Game Working Committee, focusing on the Korean gaming market and mobile gaming trends [1][2] Group 1: Korean Gaming Market Overview - Korea ranks as the fourth largest gaming market globally and is the third largest market for Chinese game developers [3][6] - The Korean gaming market is projected to reach 25.19 trillion KRW in 2024, reflecting a year-on-year growth of 9.7% [5][6] - Mobile games dominate the market with a 59% share, followed by PC games at 26% [8][6] Group 2: Consumer Behavior and Market Dynamics - RPG games account for 52% of the mobile gaming revenue, with strategy games experiencing significant growth [10][6] - 47% of mobile game users complete their first in-game purchase within 30 days of logging in, indicating strong consumer engagement [12][6] - The high frequency of credit card usage in Korea (137.5 times per person in 2022) facilitates digital payments for in-game purchases [12][6] Group 3: Market Entry Challenges - Entering the Korean gaming market presents high barriers, including language, culture, localization, and legal regulations [6][13] - The Korean government enforces strict regulations on game content, including age ratings and the disclosure of in-game item probabilities [14][6] Group 4: Strategies for Success - Chinese developers are advised to focus on mainstream genres like RPG and strategy, exploring unmet needs and niche markets [16][6] - Localization and quality assurance (QA) are critical for successful game launches, as Korean users have high expectations for game quality and cultural relevance [17][6] - Effective marketing strategies should leverage both international and local distribution platforms, with a focus on brand and word-of-mouth promotion [18][20]

Core Insights - The report indicates that the actual sales revenue of China's gaming market reached 168 billion yuan in the first half of 2025, marking a year-on-year growth of 14.08%, which is a historical high [2] - The number of gaming users in China approached 679 million, reflecting a year-on-year increase of 0.72%, also a historical peak [2] Domestic Market Performance - In the first half of 2025, the actual sales revenue of domestically developed games in the Chinese market was 140.45 billion yuan, showing a year-on-year growth of 19.25% [2] - The actual sales revenue of domestically developed games in the overseas market reached 9.501 billion USD, with a year-on-year increase of 11.07% [2] Overseas Market Distribution - In the first half of 2025, the revenue distribution of domestically developed mobile games in overseas markets showed that the United States accounted for 31.96%, Japan for 16.20%, and South Korea for 7.47%, collectively representing 55.63% of the total overseas revenue [2] - Additionally, the combined market share of Germany, the UK, and France was 8.78%, indicating that Europe remains an important region for Chinese game exports [2]

Core Insights - In 2024, China's self-developed games achieved actual sales revenue of $18.557 billion in overseas markets, marking a 13.39% year-on-year growth, with the scale exceeding 100 billion yuan for five consecutive years [1] - The release of "Black Myth: Wukong" signifies a breakthrough for Chinese games, receiving multiple prestigious awards and nominations, and contributing to a 20.75% increase in overseas sales revenue for domestic games [4] - The global gaming market is expanding, with a total market size of 1,216.335 billion yuan in 2024, reflecting a 3.31% growth [9] Industry Performance - Tencent's international game revenue reached 58 billion yuan in 2024, a 9% increase, driven by strong performances from "PUBG MOBILE" and Supercell games [6] - 2024 Q3 saw China's gaming market revenue hit a record high of 91.766 billion yuan, an 8.95% increase, largely due to the impact of "Black Myth: Wukong" [4] Cultural Integration - Chinese games are leveraging cultural elements to enhance player engagement, with "Genshin Impact" and "Black Myth: Wukong" incorporating local cultural themes and narratives to resonate with international audiences [7] - Localization strategies, such as language adaptations and culturally relevant content, are crucial for the success of Chinese games in overseas markets [11] Marketing Strategies - Participation in international gaming exhibitions and events has been a key strategy for promoting Chinese games abroad, enhancing visibility and player interaction [8] - Tailored marketing approaches based on regional user characteristics and preferences are essential for increasing market share and profitability in foreign markets [11]