Core Insights - The WeChat Mini Games ecosystem is thriving, with a 10% year-on-year increase in user online duration and over 80% of users starting games through "pull-down, social, and search" methods [1] - More than 400,000 mini game developers are involved, with over 80% being small teams of fewer than 30 people [1] - Approximately 70% of listed gaming companies are investing in the mini game ecosystem, leading to a rich variety of engaging games for users [1] User Engagement - The monthly active users of WeChat Mini Games have reached 500 million, with users playing an average of 6 games per month and daily online duration also increasing by 10% compared to last year [1] - Nearly 70 games have achieved over 1 million daily active users (DAU), and over 300 games have generated more than 10 million yuan in quarterly revenue [1] Market Expansion - International gaming giant Supercell has entered the Chinese WeChat Mini Games market, launching its competitive mobile game "Brawl Stars" exclusively on the platform, with a mini game version of "Clash Royale" expected to launch in September [1] - The mini game IP cooperation platform has over 200 quality IPs, with new city tourism IPs being added, marking a significant expansion in the IP collaboration space [2] Technological Advancements - The PC mini games have seen a 55% increase in activity and a 40% expansion in commercial scale, with user acquisition spending increasing fourfold [2] - The WeChat Mini Games platform has introduced the LTVMax optimization tool and upgraded its technical capabilities, allowing for larger game sizes and improved efficiency in advertising [2] Social Responsibility - The WeChat Mini Games team has upgraded the WeCare public welfare program, opening donation capabilities and exclusive feedback mechanisms to all developers by July 1, 2025, with over 1 million yuan donated during the testing phase [2]

李力认为，做出爆款游戏本身有很大难度，每年公司内部立项的项目大概70—80个，真正能上线的大概40 个左右，"能做到微信人气榜前10的产品，一年如果能有2个左右，就算比较成功了。"值得注意的是，李 力认为爆款游戏离不开年轻人的天马行空创新。"一些应届毕业生他的活跃思路比我们做了五年、十年开 发的人员更活跃，我们也是非常欢迎和鼓励新进来的员工，特别是应届毕业生把自己的想法和点子先说出 来，再根据技术实现再进行创作。这是我们整个公司去做立项和打造尽可能给大家带来好产品的过程。" 上游新闻记者 孙磊 李力表示，云威科技旗下的《打螺丝》系列小游戏，在腾讯等平台中明列全国前三的成绩，源于公司有着 自己的"爆款方法论"。他表示，最核心的方法就是团队要保持比较好的创造力和氛围。每到周末的时候， 公司的策划、美术、程序等都要进行一次"头脑风暴"的碰撞，这期间往往能产生很多好点子，即便暂时"漂 在空中"很难落地，也要收集起来。李力表示，好的创意通过各种拆分落地，往往有不错的效果。如"打螺 丝"系列游戏，就把当时比较好的玩法原型加上打螺丝的题材结合起来进行的尝试。"可能过程当中会发现 当时看起来不合原理的，如一颗螺丝打到车顶，感 ...

Core Insights - The article discusses the return of the legendary game IP with a new technological approach, highlighting the upcoming internal test of "Legend M: Twilight Double Dragons" developed by Yumei De's Chinese studio [1] - The game aims to combine classic elements with modern technology, focusing on user experience and innovation [1][2] Group 1: Technological Innovation - "Legend M: Twilight Double Dragons" utilizes Unreal Engine 4, enhancing classic visuals to 4K while reconstructing user experience [1] - The introduction of an intelligent combat assistance system allows for automatic skill activation based on combat conditions, lowering the operational threshold for users [1][3] - Cross-platform compatibility enhances user engagement by providing a seamless gaming experience across PC and mobile devices [1] Group 2: Market Trends - The Chinese gaming market reached a record high of 325.783 billion yuan in actual sales revenue, growing by 7.53% year-on-year, with a user base of 674 million, up by 0.94% [2] - The application of new technologies like 5G, cloud computing, and AI is driving high-quality development in the gaming industry [2] Group 3: AI Integration - The shift from using AI as a development tool to integrating it into core gameplay signifies a deeper application of technology in the gaming industry [3] - The game features a customizable skill tree and intelligent recommendation system, enhancing strategic depth while maintaining the core experience of character development [3] Group 4: International Collaboration - The game represents a significant collaboration between China and South Korea, leveraging each country's strengths in game development and market access [4] - This partnership model is becoming a trend in the global gaming industry, enhancing the adaptability of game products to different markets [4] Group 5: Compliance and Licensing - The game has received a publishing license in China, reflecting a commitment to copyright compliance and collaboration with relevant stakeholders [6][7] - Establishing a clear licensing framework is crucial for protecting intellectual property and fostering a healthy development environment in the gaming industry [7] Group 6: Cultural Integration - The game incorporates Eastern cultural elements, enriching its narrative and world-building, which reflects a mature development in the gaming industry [8] - The integration of technology and culture aims to enhance the quality of the gaming experience while driving innovation [8]

Group 1 - The WeChat mini-game ecosystem has seen a 10% year-on-year increase in user online duration, with over 80% of users starting games through "pull-down, social, and search" methods [1] - There are over 400,000 mini-game developers, with more than 80% being small teams of fewer than 30 people; 70% of listed gaming companies are investing in the mini-game ecosystem [1] - Nearly 70 games have achieved over 1 million daily active users (DAU), and over 300 games have generated more than 10 million yuan in quarterly revenue [1] Group 2 - The mini-game platform is enhancing user interaction by gradually supporting features like virtual gifts, group competitions, and social sharing, leveraging WeChat's social capabilities [1] - The active user base for PC mini-games has increased by 55% year-on-year, with a 40% expansion in commercial scale and a fourfold increase in advertising spending [1] - Mini-game content on video accounts is gaining popularity, with live viewing time increasing by 54% and short video views rising by 22% [1] Group 3 - The mini-game team is providing comprehensive support for developers through technology, operations, and business enhancements, including the development of the LTVMax optimization tool [2] - The platform has upgraded its technical capabilities, expanding IAA mini-games from 200MB to 1GB, reducing rendering frame time by 10%, and improving trial advertisement efficiency [2] - Finnish game company Supercell is entering the Chinese WeChat mini-game market with a mini-game version of its competitive mobile game "Clash Royale," expected to launch in September [2]

Core Insights - The article highlights the significant growth and competition in the shooting game genre, particularly in the mobile gaming sector, with major players like Tencent and NetEase actively expanding their portfolios [1][2][7]. Group 1: User Engagement and Market Dynamics - On June 5, the active user count for "Peace Elite" surpassed 37 million, indicating strong engagement in the shooting game segment [1]. - The National Press and Publication Administration approved 147 domestic and 11 imported games, including several shooting titles, reflecting a robust market for this genre [1]. - The shooting genre accounted for 13.89% of the top 100 mobile games by revenue last year, ranking third, showcasing its significant market share [2]. Group 2: Revenue and Profitability Insights - Despite a focus on user metrics like DAU (Daily Active Users) and MAU (Monthly Active Users), the revenue potential of shooting games, especially on PC, is substantial, as indicated by Tencent's comments on "Delta Force" [2][7]. - In 2024, the tactical multiplayer genre is projected to lead mobile game revenues at 17.99%, followed closely by role-playing games at 17.85% and shooting games at 13.89% [2]. Group 3: Competitive Landscape - The shooting game market is characterized by intense competition among Chinese developers, who are not only competing internally but also vying for market share against established Western companies [9]. - Emerging markets like Russia, Turkey, and Brazil are showing explosive growth in active users for shooting games, indicating a shift in global gaming dynamics [9]. Group 4: Innovation and Long-term Viability - The shooting genre continues to evolve with innovative gameplay, such as the integration of tactical elements and various modes, which keeps the genre fresh and engaging for players [10][12]. - The ability of shooting games to incorporate diverse gameplay elements without alienating core players suggests a strong potential for long-term engagement and revenue generation [13].

当云游戏已经不再是科技圈焦点的2025年，微软却依然对它不离不弃。 虽然微软这个想法很好，但只可惜努力错了方向。自从2019年云游戏开始被业界频繁提及，到2024年左 右，海外市场的谷歌、亚马逊、Meta，以及国内的腾讯、网易就陆续偃旗息鼓，在这五年时间里业界 已经找到了云游戏最大的痛点，进而对其祛魅。 其实云游戏这个概念本身非常有想象空间，基于云服务让没有高性能硬件的用户也能成为游戏玩家，显 然足以让PC游戏、主机游戏的规模翻几番。通过云端提供算力，用串流的方式将画面输出到用户的屏 幕上，就可以使得让用户无需购买PC、游戏主机也能体验高画质大型游戏。 如今为了体验高画质游戏，一台价值三千多元的游戏主机或是六七千元的高性能电脑是基础，这一笔不 小的门槛就在无形当中阻拦了一大批消费者成为游戏玩家。如果在自己的老电脑、甚至是电视上也能玩 到《黑神话：悟空》，相信这款国产3A之光的销量还会再多数百万份。 云游戏其实是由两大技术组成，即游戏上云和流媒体传输。此次传言中微软为Xbox Cloud Gaming云游 戏打造的下一代服务器，就是为了解决游戏上云的问题。除非了纯粹的云原生游戏，常规游戏想要通过 云端传输到用户 ...

Group 1 - Tencent's "Honor of Kings World" has launched a closed beta recruitment, aiming to explore the commercial potential of the original game [1] - The recruitment period for the beta test runs from June 25 to July 14, and it is limited to PC users [1] - Successful launch and market acceptance of "Honor of Kings World" could provide Tencent with new revenue growth opportunities, reinforcing its leading position in the gaming industry [1] Group 2 - The upcoming 4.0 version of "Love and Deep Space" is set to be previewed on June 27 and officially launched on July 3 [2] - The sustained popularity and high revenue of "Love and Deep Space" are expected to enhance the company's revenue and profit, increasing its attractiveness in the capital market [2] - If the new version performs well, it could solidify the company's position in the gaming industry and attract more investor interest for future projects [2] Group 3 - Lingxi Interactive Entertainment's "Detective Mystery" is scheduled for full platform public testing on July 24 [3] - The game's unique dark martial arts detective theme and engaging storyline may attract a significant player base, potentially boosting the company's revenue [3] - Previous successful launches, such as "Like a Kite," have shown that public testing can lead to substantial revenue growth, enhancing the company's ranking in revenue charts [3]

Core Viewpoint - NetEase's new game "Return to Tang" has sparked mixed reactions, with international players expressing excitement while domestic players voice skepticism regarding its authenticity as a single-player game and potential monetization strategies [1][3][4]. Group 1: Game Overview and Reception - "Return to Tang" is set during the An Lushan Rebellion in the Tang Dynasty, told from the perspective of an ordinary messenger, and has garnered over 14.4 million views on Bilibili [1]. - The game's trailer has received high praise from overseas players for its graphics, especially in the context of the success of "Black Myth: Wukong," leading to high expectations for another Chinese AAA title [3]. - Conversely, domestic players have raised concerns about the game's potential shift to a monetized model, fearing it may become a service-oriented game despite being marketed as a single-player experience [3][9]. Group 2: Player Concerns and Studio Response - Players have criticized the trailer for lacking sufficient gameplay footage, with many believing that the high proportion of CGI raises doubts about the game's actual quality [8]. - The studio, 24 Studio, has responded by asserting that the trailer consists entirely of real gameplay footage, with 70% being cutscenes and 30% actual gameplay [8]. - Concerns about the game's commercial model persist, as players recall similar past experiences with other titles that transitioned from single-player to multi-platform service games [9]. Group 3: Marketing and Trust Issues - NetEase's history of aggressive marketing tactics has led to a general distrust among players, particularly in the single-player game segment, where players prefer substantial content over marketing hype [4][12]. - The studio's previous titles, such as "Nirvana in Fire," have been associated with over-marketing, which has negatively impacted player trust in new releases [12][13]. - The company aims to rebuild trust by delivering a genuine single-player experience and reducing unnecessary marketing efforts [17]. Group 4: Development Insights and Future Directions - The development of "Return to Tang" has been ongoing since 2018, with a focus on creating a high-quality AAA game, reflecting the studio's commitment to the single-player genre [3][14]. - The studio has engaged with other domestic teams, including the developers of "Black Myth: Wukong," to enhance its development process [16]. - Moving forward, the company is encouraged to showcase more actual gameplay content to alleviate player skepticism and build anticipation for the game's release [19][21].

Group 1 - The core viewpoint of the articles highlights the significant increase in the approval of both domestic and imported online games in June, with a total of 158 game approvals, marking a new high for the year [1][2] - In June, 147 domestic games were approved, including 76 mobile games, 61 mobile-casual puzzle games, 2 client games, 7 dual-end games, and 1 mobile-web game [1] - Notable domestic games include titles from listed companies such as ST Huatong's "Deer Hunting Mafa," 37 Interactive Entertainment's "Knights and Dragons," and Tencent's "Crossfire: Rainbow" [1][2] Group 2 - Among the 11 imported games approved, there are 4 mobile games, 4 client games, and 3 dual-end games, with Tencent's "Crossfire: Rainbow" being a new addition to the popular shooting game series [1] - NetEase's game "No Master Star Abyss," developed by Mike Morhaime's new studio Moonshot Games, has garnered significant attention since its announcement [2] - The game "Goose Goose Duck," which has 120,000 fans on Steam Hub and 20,000 monthly active players, will begin beta testing on June 26, with Kingsoft as its exclusive agent in China [2]

中概股小额IPO的新成员 虽然今年外部环境震荡不断，但中概股IPO的数量依旧不少。数据显示，今年以来共有31家中国企业在美股市场IPO上市，合计募资约7.72亿美元，与上年同 期相比IPO数量同比增长63%。 但也因为特殊的环境影响，今年以来中概股呈现出大额IPO较为冷清，小额IPO明显增多的情况。中概股整体募资金额同比减少55%。全部年内IPO新股的发 行市值合计不超过100亿美元，平均募资不足2500万美元，平均发行比例约为8%。其中仅霸王茶姬(CHA.US)募资超过2亿美元，其余中概股的募资规模基本 都不超过1500万美元，其中有22只募资不足1000万美元。 时至Q2季度，美股中概股IPO迎来了一家"另类"企业，即游戏行业的黑瞳科技。其实自2021年之后，选择赴纳斯达克上市的国内游戏企业便寥寥无几，在当 下中概股IPO行业格局呈现 "科技 + 医药 + 工业" 三足鼎立的背景下，一家手游企业的出现便格外显眼。 实际上，历史上黑瞳科技还有一家广州子公司 TuringGame 主要专注于移动游戏发行与知识产权资源管理。并且Turing一直作为公司的成本中心存在，依赖 研发人员为公司整体业务提供支持。而后公 ...