Core Viewpoint - The gaming sector is experiencing fluctuations, with the gaming ETF (159869) declining nearly 2.5% as of October 17, despite significant net inflows of 2.501 billion yuan over the past 10 trading days, indicating strong investor interest [1][2]. Group 1: Market Performance - As of October 16, the gaming ETF (159869) has reached a product scale of 10.768 billion yuan, facilitating investors' access to leading A-share gaming companies [1]. - The projected sales revenue for China's gaming market in Q3 2025 is expected to decline by approximately 4.8% year-on-year, but show a quarter-on-quarter growth of about 6.2%, primarily due to a high base effect from the previous year [1]. Group 2: Industry Dynamics - The overall performance of listed companies in the gaming sector is anticipated to remain resilient, with potential for exceeding expectations in Q3 due to strong demand in the summer entertainment sector and ongoing AI-driven product innovation [1]. - The gaming industry is benefiting from a favorable policy environment, with stable issuance of game licenses and the Ministry of Culture and Technology promoting AI applications in content creation [1]. Group 3: Growth Drivers - Major gaming companies are launching key products, contributing to robust overall revenue performance, while the overseas market continues to show increased activity, with international business becoming a significant growth driver [1]. - The period from July to August saw a high quarter-on-quarter growth in overseas mobile game revenue, with "premium overseas" becoming a primary growth engine [1].

Core Viewpoint - Bilibili (BILI.US) shares rose by 6.35% to $30.33 in pre-market trading following the announcement of a new game titled "Three Kingdoms: Hundred Generals Card" set to begin testing in October, with expectations for significant contributions to revenue in 2024 from upcoming game launches [1] Company Summary - Bilibili's new game "Three Kingdoms: Hundred Generals Card" is scheduled for testing in October, with a potential official launch in early 2024 [1] - The company is expected to perform well with the exclusive agency of the SLG game "Three Kingdoms: Strategize the World" in 2024, alongside a strong pipeline of additional game products [1] - The stock closed at $28.52 on October 8, with a pre-market price of $30.33 on October 9, reflecting a significant increase [1] Industry Summary - Chinese game developers are increasingly establishing a foothold overseas, particularly in Japan, through high-quality game projects and unique gameplay [1] - The trend of multi-platform distribution is becoming standard for Chinese game companies expanding internationally [1] - There is optimism regarding the potential of Chinese game developers in research, production, and localization, with a focus on major Japanese companies like Nintendo and Bilibili [1]

10月2日至5日，AGF亚洲游戏博览会在广州保利世贸博览馆盛大启幕，同期举办CICF中国国际漫画节动漫游戏展。 腾讯游戏xSupercell、网易游戏、盛趣游戏、三七互娱、西山居等游戏企业集体参展，带来众多现象级游戏IP。西山居游戏市场营销负责人詹早早 在接受采访时表示，希望通过国产科幻机甲游戏《解限机》破圈出海，打破"国产游戏只有武侠题材"的刻板印象。"我们想向全世界说明，中国有 能力自主研发科幻游戏，并且能走的出去。" （原标题：西山居：自主研发科幻游戏《解限机》，助力中国文化出海） ...

（文章来源：21世纪经济报道） 腾讯游戏xSupercell、网易游戏、盛趣游戏、三七互娱、西山居等游戏企业集体参展，带来众多现象级 游戏IP。西山居游戏市场营销负责人詹早早在接受采访时表示，希望通过国产科幻机甲游戏《解限机》 破圈出海，打破"国产游戏只有武侠题材"的刻板印象。"我们想向全世界说明，中国有能力自主研发科 幻游戏，并且能走的出去。" 10月2日至5日，AGF亚洲游戏博览会在广州保利世贸博览馆盛大启幕，同期举办CICF中国国际漫画节 动漫游戏展。 ...

Core Insights - The Tokyo Game Show (TGS) 2025 has set a record with over 1,100 exhibitors and more than 4,100 booths, marking the largest scale in its history [3] - Chinese game developers showcased significant advancements, with many titles gaining attention even before reaching the main venue [5][6] - The event highlighted the growing competitiveness of Chinese games in the global market, particularly in the anime-style game sector [9][10] Group 1: Event Scale and Attendance - TGS 2025 is the largest ever, with over 1,100 exhibitors and 4,100 booths, indicating a substantial increase in participation [3] - The number of attendees has also surged, with long queues observed before the event's opening [3] Group 2: Chinese Game Developers' Performance - Chinese games have made a strong impression at TGS 2025, with titles like "Endless Winter" and "Infinite" prominently displayed [5][6] - The success at both TGS and Gamescom 2025 suggests that Chinese developers are now capable of competing on a global scale [8][9] Group 3: Upcoming Titles and Market Trends - Many new titles are set to launch in 2026, indicating a potentially explosive year for the anime game market [10][11] - Notable games like NetEase's "Infinite" generated significant interest, with long wait times for hands-on experiences [13][15] Group 4: Diverse Game Offerings - The event featured a variety of genres beyond anime games, with Tencent showcasing titles like "Fate Trigger" and "Chasing Kaleido" [25][27] - Other popular titles included "Tomorrow's Ark: End of the World" and "Dual Spiral," which also attracted considerable attention [19][23] Group 5: Cultural Impact and Market Penetration - The presence of Chinese games at TGS reflects a broader trend of increasing cultural exchange and market penetration in Japan [45][47] - The success of titles like "Nirvana in Fire" and "Fifth Personality" demonstrates the appeal of Chinese games to Japanese audiences [41][43]

Core Viewpoint - The release of the new game "Black Myth: Zhong Kui" has generated significant excitement and discussion within the gaming community, indicating a strong cultural impact and potential market growth for Chinese video games [3][5][11]. Group 1: Game Release and Reception - The official announcement of "Black Myth: Zhong Kui" has sparked mixed reactions, with some players expressing disappointment over the delay of the DLC for "Black Myth: Wukong," leading to an increase in negative reviews [3][5]. - Despite the initial backlash, the promotional content for "Zhong Kui" has achieved over 12 million views on Bilibili and more than 500,000 shares, showcasing its popularity [5]. - The character Zhong Kui, rooted in Chinese folklore, has attracted interest from international audiences, with overseas gamers actively researching his background during live streams [7][9]. Group 2: Cultural Impact and Market Potential - The surge in online searches for "Zhong Kui" following the game's announcement reflects a growing global interest in Chinese cultural elements [9]. - Analysts believe that if "Zhong Kui" maintains the quality of its predecessor, it could help the domestic single-player game market surpass 10 billion yuan and facilitate the export of Chinese cultural symbols [11]. - The increasing recognition of Chinese games is evident, with multiple titles showcased at the 2025 Cologne Game Show, indicating a trend towards global acceptance of Chinese gaming products [11].

Core Viewpoint - The article discusses the increasing prominence of Chinese games at international gaming events, particularly at the Cologne Game Show, highlighting the respect and attention they are receiving globally [4][10][39]. Group 1: Event Highlights - The Cologne Game Show featured a notable presence of Chinese games, with titles like "Black Myth: Zhong Kui" being showcased as significant new releases [4][10]. - The event included various Chinese games such as "Arknights: Endfield," "Honor of Kings: World," and "Shadow Blade Zero," indicating a strong representation of Chinese gaming products [4][10]. - The awards nominations for Chinese games, including "Shadow Blade Zero" for Best Sound and multiple nominations for "Arknights: Endfield," reflect the growing recognition of Chinese titles in the international arena [8][10]. Group 2: Historical Context and Evolution - The article contrasts the current state of gaming events with past highlights from E3, emphasizing how major gaming announcements used to create significant buzz and excitement [14][18]. - It notes the shift from physical to digital marketing strategies in the gaming industry due to the pandemic, leading to a decline in traditional events like E3 [21][22]. - Despite the rise of online marketing, there is a renewed interest in physical events, as evidenced by the high attendance at recent gaming conventions in both domestic and international contexts [21][22]. Group 3: Opportunities for Chinese Games - The success of titles like "Black Myth: Wukong" has opened new opportunities for Chinese developers in the single-player market, encouraging participation in global events [24][26]. - The article highlights the necessity for Chinese free-to-play (F2P) games to expand into global markets, especially as the mobile gaming market faces saturation [28]. - It emphasizes that the quality and design of Chinese games are breaking down barriers to international recognition, allowing them to compete on a global stage [28][39]. Group 4: Future Outlook - The article expresses optimism about the future of Chinese games, suggesting that they are on the verge of becoming significant players in the global gaming industry [39]. - It points out that the changing preferences of global gamers may provide further opportunities for Chinese developers to innovate and capture market share [39].

Core Points - The recent Gamescom event in Cologne was perceived as somewhat dull, lacking surprises despite the presence of anticipated titles [1][4] - The highlight of the event was the announcement of a new game titled "Black Myth: Zhong Kui," which signifies the growing respect and attention for Chinese games in the global market [3][4] - Chinese games had a strong presence at the event, with multiple titles showcased and nominated for awards, indicating their increasing recognition [10][17] Group 1 - The event featured several Chinese games prominently, including "Genshin Impact," "Arknights: Endfield," and "Honor of Kings: World," showcasing the significant presence of Chinese gaming [8][10] - The event's structure included a strong opening with "GuJian" and a closing highlight with "Black Myth: Zhong Kui," emphasizing the importance of these titles in the global gaming landscape [4][10] - The increasing visibility of Chinese games at international events reflects a shift in the global gaming industry, where Chinese developers are gaining more recognition and opportunities [19][52] Group 2 - The historical context of gaming events shows that major announcements often occur at significant showcases, with past events like E3 being pivotal for the industry [20][29] - The transition from physical to digital marketing in the gaming industry has led to a resurgence of interest in live events, with Gamescom emerging as a key platform for global game launches [31][34] - The success of titles like "Black Myth: Wukong" has opened doors for Chinese developers to participate in international markets, highlighting the potential for growth in the Chinese gaming sector [36][40] Group 3 - The competitive landscape for Chinese games is evolving, with a focus on quality and design to break into the global market, as seen with titles like "Arknights: Endfield" [42][45] - The recognition of Chinese games at international events, such as nominations for awards, indicates a growing acceptance and anticipation from global audiences [10][55] - The future of Chinese gaming looks promising, with expectations that the industry will continue to improve and gain a stronger foothold in the global market [55]

Group 1 - The auction result for ST Huatuo (Century Huatuo) concluded with Wei Wei winning the bid for approximately 22.6173 million shares at a price of 279 million yuan, representing a 12.04% premium over the starting price of 249 million yuan [1] - The auction attracted three investors and involved 31 rounds of bidding, with the stock price of ST Huatuo rising by 2.66% to 12.75 yuan following the announcement, increasing the company's market capitalization to 95 billion yuan [1] - ST Huatuo has seen its stock price increase significantly since the "924 market" began, with a maximum increase of over 300%, and its market value once exceeding 100 billion yuan [1] Group 2 - Despite facing challenges, ST Huatuo reported impressive financial results for 2024, with total revenue of 22.62 billion yuan, a year-on-year increase of 70.27%, and a net profit of 1.213 billion yuan, up 131.51% [2] - The company expects strong performance in the first half of 2025, forecasting revenue of approximately 17 billion yuan, a year-on-year growth of 83.27%, and a net profit between 2.4 billion and 3 billion yuan, reflecting a growth rate of 107.2% to 159% [2] - The gaming industry is thriving, with 884 domestic games approved from January to July, an increase of 151 games compared to the previous year, and the Chinese gaming market reaching a size of 28.051 billion yuan, growing by 9.86% [2] Group 3 - Wei Wei's auction price of 12.35 yuan per share is only about 3% lower than ST Huatuo's current stock price of 12.75 yuan, indicating a strong interest in acquiring shares despite the recent price increase [3]

Core Insights - The cultural and entertainment consumption is on the rise during the summer, with various gaming and anime events attracting significant public attention [1] - Domestic games are showcasing strong performance and gaining popularity both locally and internationally [1][4] Industry Events - The offline demo event for the game "Shadow Blade Zero" took place at the Shougang Park in Beijing, featuring a unique industrial backdrop that enhances the gaming experience [2][3] - The first Shanghai Summer International Anime Month series is expected to attract over one million visitors, highlighting the growing interest in anime and gaming [4] Game Popularity - "Shadow Blade Zero" is one of the most anticipated AAA games, drawing attention for its blend of traditional martial arts and modern production techniques, and has garnered a significant international following [3][4] - The event attracted around 1,000 participants, including over ten influencers with more than one million followers each, collectively reaching an audience of over 40 million [3] Global Market Performance - Chinese self-developed games are projected to achieve over $18.5 billion in overseas sales in 2024, marking a 13.39% year-on-year increase [8] - The first quarter of 2025 is expected to see nearly $4.8 billion in overseas sales, reflecting a 17.92% growth [8] Cultural Exchange - Games are becoming a new medium for cultural exchange, allowing international players to experience Chinese culture through gameplay [9] - The gaming industry is recognized as a significant pillar of the cultural and entertainment economy, with the global gaming market projected to reach nearly $190 billion in 2024, significantly outpacing the film industry [11]