Core Viewpoint - The article highlights the successful launch of "Delta Action" on console platforms, emphasizing its significance in Tencent's global market strategy and its positioning as a cross-platform service game [1][4][6]. Group 1: Game Performance and Market Position - "Delta Action" achieved an average daily active user (DAU) count exceeding 20 million within a year of its mobile and PC launch, ranking among the top five in the industry [4][10]. - The game has contributed significantly to Tencent's revenue growth, with the domestic gaming revenue reaching 40.4 billion yuan, a year-on-year increase of 17% [13]. - The game is positioned as the first original service-type shooting game developed in China, marking a significant entry into the console gaming market, which has historically been less penetrated by Chinese companies [4][6]. Group 2: Market Dynamics and Trends - The global console gaming market exceeds $42 billion, with service-type games emerging as a new growth driver [6][18]. - In 2024, console games are projected to account for 28% of the global gaming market revenue, with shooting games representing 16% of console game revenue [18][23]. - The shift from traditional buyout games to service-type games is becoming prevalent, with approximately 20% of the market now occupied by non-buyout games [18][23]. Group 3: Development and Strategic Insights - The development team behind "Delta Action," J3 Studio, has over 15 years of experience in the FPS genre, previously creating successful titles like "Crossfire Mobile" and "Call of Duty Mobile" [8]. - The game is designed for cross-platform operation, allowing for data interoperability between PC and mobile platforms, which is expected to enhance user engagement and growth [19][20]. - Tencent's approach to developing "Delta Action" as a native service-type game allows for innovative business model opportunities, focusing on continuous content updates and player engagement [20][23]. Group 4: Future Prospects and Global Expansion - The entry of "Delta Action" into the console market represents a new growth opportunity for Tencent, particularly as domestic game market growth slows [21][25]. - The game serves as a critical entry point for Chinese original IPs into the global gaming market, potentially leading to further cross-platform interactions and IP development [24][25].

Core Viewpoint - The launch of "Delta Operation" on console platforms marks a significant step for Tencent Games in expanding its presence in the console gaming market, which has historically been less penetrated by Chinese companies [4][6][19]. Group 1: Game Overview - "Delta Operation" is the first domestically developed service-type game for console platforms, developed by Tencent Games [4]. - The game achieved an average daily active user (DAU) count of over 20 million within a year of its mobile and PC launch, ranking among the top five in the industry [4][9]. - The game features a comprehensive layout with multiple maps, characters, and customizable weapons, showcasing high-quality 3A game standards [8]. Group 2: Market Context - The global console gaming market exceeds $42 billion, with service-type games becoming a new growth driver [6][15]. - In 2024, console games are projected to account for 28% of the global gaming market revenue, with shooting games representing 16% of console game revenue [15]. - The shift from traditional buyout games to service-type games is evident, with approximately 20% of the market now occupied by non-buyout games [15][20]. Group 3: Strategic Implications - Tencent's entry into the console market with "Delta Operation" reflects its commitment to expanding its market share and adapting to new industry trends [6][19]. - The game’s cross-platform capabilities allow for player matching between PC and console users, enhancing user engagement and growth potential [16][20]. - The success of "Delta Operation" could pave the way for other Chinese companies to explore the console gaming market, which remains largely untapped domestically [19].

Core Insights - Tencent reported a strong performance in Q2 2025, with online gaming revenue reaching 59.2 billion yuan, a year-on-year increase of 22% [1] - The international gaming revenue was 18.8 billion yuan, growing 35% year-on-year, marking a record high for four consecutive quarters [1] - The success of long-standing games like "Honor of Kings" and "Peacekeeper Elite" has been attributed to their platform evolution and increased AI application [1][3] Gaming Performance - "Honor of Kings" was the only mobile game to surpass $1 billion in revenue in the first half of the year, maintaining its position as the top-grossing game globally for three consecutive years from 2022 to 2024, with a projected 26% revenue growth in 2024 [1][5] - The shooting game genre has seen a rise in popularity, with its share of the top 100 mobile games increasing from 13.89% in 2024 to 17.03% in the first half of this year [4] - "Delta Action" has achieved over 20 million daily active users and is expected to grow further with its launch on PS and Xbox platforms [5] Market Trends - The overall gaming revenue growth is expected to stabilize due to an expanded product portfolio and enhanced platform characteristics, although individual games may still experience cyclical performance [3] - The international market for self-developed Chinese games saw a revenue increase of 11.07% to $9.501 billion in the first half of the year, with Tencent's international gaming revenue reaching 18.8 billion yuan [7] - Tencent's management emphasized that service-type games will remain the mainstay of the Chinese gaming market, despite the growing audience for AAA games [9] Future Outlook - Tencent's management believes that the success of "Delta Action" reflects the company's ability to produce high-quality content that sustains user and revenue growth over time [9] - The management also noted that while AAA games could achieve stable profitability, they will remain a minority in the Chinese market due to players' long-standing preference for free-to-play models [9]

Core Insights - Tencent reported a 15% year-on-year increase in total revenue and a 16% increase in profit for Q2 2025, reaching 184.5 billion yuan and 60.1 billion yuan respectively [1] - The gaming segment showed strong performance, with domestic and international market revenues growing by 17% and 35% respectively, totaling 40.4 billion yuan and 18.8 billion yuan [1] - Tencent's stock price reached a new high of 600 HKD, closing at 590 HKD with a total market capitalization of 5.4 trillion HKD [3][4] Gaming Industry Trends - The Chinese gaming industry saw a 14.08% year-on-year revenue growth in the first half of 2025, reaching 168 billion yuan, driven by supportive government policies [8] - Domestic self-developed games' market revenue increased by 19.29% to 140.45 billion yuan, while overseas revenue grew by 11.07% to 9.501 billion USD [9] - The gaming sector is expected to play a significant role in promoting high-quality consumption and technological innovation in network publishing [8][9] Product Performance - Tencent's multi-platform shooting game "Delta Force," launched in September 2024, achieved an average of 20 million daily active users in July, marking a 66.7% increase since April [6][12] - The game has been recognized for its innovative features, including underwater combat and dynamic weather systems, contributing to its popularity [12] - "Delta Force" topped the App Store and Google Play free game charts in 169 and 125 countries respectively on its first day of international release [22] Market Dynamics - The FPS game market, traditionally dominated by overseas companies, is experiencing growth in China due to an increasing player base and improved technology [21] - The Chinese government is actively encouraging domestic game developers to expand internationally, with initiatives aimed at enhancing the entire game production and distribution chain [22][23] - Tencent's innovative products are expected to reshape the global perception of Chinese games, emphasizing quality and international appeal [23][25]