你或许很难想象，SLG，在过去一年以高达180%的同比增长，成为小游戏平台势头最"凶猛"的品类之一。 SLG集体"抢滩"小游戏的趋势，从去年年中开始就已经变得相当明显。在一众入局者当中，包括点点互动《无尽冬日》，以及途游旗下的《三国：冰河时 代》都是小游戏畅销榜Top3的「常客」。后者的APP版本在经历半年左右的调优之后，前段时间也一路冲到了国内iOS畅销Top30的高位，有望成为SLG又 一个双端跑通的成功案例。 不仅如此，就连位居品类头部的《率土之滨》与《三国：谋定天下》（下称《三谋》），近期也都相继推出了小游戏版本，尝试在这一新兴领域寻找增长 突破口。据游戏那点事了解，这两款产品已经在微信小游戏领域被评为S级。而上线刚满一个月的《三谋》，不久前也已经悄悄"摸"到了微信小游戏畅销 榜60名左右，大有后来居上之势。 加上4399《曙光重临》、江娱互动《口袋奇兵》等一众稳居榜单前列的产品……曾经被视为最"重"品类之一的SLG，如今怎么就在小游戏这个看上去 最"轻"的平台如鱼得水了？ 将SLG「塞」进小游戏 整体来看，小游戏平台的SLG产品大致可以分为两类。一是以《口袋奇兵》《无尽冬日》为首，通过"SLG+X" ...

Summary of Zhongshou's Conference Call Company Overview - Zhongshou's overseas revenue reached RMB 272 million in 2024, accounting for 14.1% of total revenue, with significant contributions from the game "Douluo Dalu: Shrek Academy" in the Hong Kong, Macau, and Taiwan markets [1][3] - The company plans to expand its overseas business by launching "Douluo Dalu: Reverse Time" in international markets [1][3] Core Business Segments - Zhongshou's game publishing revenue for 2024 was RMB 1.665 billion, with three main business segments: game publishing, game development, and IP licensing [2] - Key games launched include "Douluo Dalu: Shrek Academy," "Doupo Cangqiong: Peak Showdown," and "Douluo Dalu: Reverse Time," all performing exceptionally well [2][15] - The company aims to launch 18 new games in 2025, focusing on high-quality IP games and innovative mini-games [2][10] Long-term Operating IP Games - Zhongshou has several long-term operating IP games, including "Xianjian Qixia Chuan," "One Piece: Bloodline," and "True Three Kingdoms: Domination," which have shown strong revenue performance [4] - "New Legend of the Condor Heroes: Iron Blood and Heart" generated RMB 260 million in its first month, while "One Piece: Bloodline" has maintained active engagement since its launch [4] Research and Development - The company invested RMB 244 million in R&D in 2024, focusing on projects like "Code: Dark Night Legend" and the open-world game "Xianjian World" [5] - "Xianjian World" was launched in early 2025, while "Code: Dark Night Legend" is expected to enter testing later in 2025 [5][13] IP Licensing Achievements - In 2024, IP licensing revenue was RMB 116 million, with Zhongshou holding complete global rights to "Xianjian Qixia Chuan" [7] - The company collaborates with partners like iQIYI and Tencent to produce series based on the IP, enhancing its market presence [8] Mini-Game Platform - The mini-game platform has lower channel costs and higher profit margins, with "Chunqiu Xuanqi" generating over RMB 100 million in its second month [17] - The company aims to deepen its development in the mini-game sector, targeting a revenue increase [17] Overseas Market Strategy - Zhongshou began its overseas business in 2021, with revenue contribution rising from less than 1% to over 10% in the first year [19] - The company plans to accelerate its overseas expansion, targeting a revenue contribution of 20% to 30% from international markets in the next three years [19][20] Future Outlook - The company is considering stock buybacks and dividends based on market conditions, with ongoing support from major shareholders [21] - The competitive landscape in the gaming market remains intense, but Zhongshou's strong IP portfolio positions it favorably [16]