Core Viewpoint - MiHoYo has taken significant legal action against game content leaks, reflecting its challenges in maintaining growth after rapid expansion, despite continued revenue from its flagship games, Genshin Impact and Honkai: Star Rail [2][12]. Group 1: Legal Actions and Industry Impact - MiHoYo's "Special Action Against Game Leaks" has resulted in criminal measures against leakers and court orders to cease infringement activities [2][3]. - The leaked content includes unreleased game features and software testing packages, with over 260 leakers held accountable [3][5]. - Industry experts warn that leaks can lead to competitors mimicking content, potentially damaging MiHoYo's reputation as an original creator [5][6]. Group 2: Revenue and Market Position - Genshin Impact has consistently contributed over 70% of MiHoYo's revenue since its launch in 2020, while Honkai: Star Rail has become the second major revenue source since its release in 2023 [3][7]. - MiHoYo has faced challenges in maintaining its position among the top three mobile game publishers in China, being surpassed by Tencent and NetEase [7][10]. Group 3: Player Engagement and Game Lifecycle - Genshin Impact is entering its fifth year, facing declining player engagement as content consumption outpaces updates, leading to player fatigue [10][11]. - Players have expressed dissatisfaction with the game's monetization mechanics, particularly regarding the high costs associated with acquiring rare characters [10][11]. - MiHoYo's new title, Honkai: Star Rail, has underperformed, generating only one-third of the revenue of Honkai: Star Rail in its first month and dropping out of the iOS top 100 within 41 days [10][11]. Group 4: Future Prospects and Competition - MiHoYo is exploring new game genres, as seen with the upcoming release of Honkai: Inheritance Spirits, which aims to broaden its audience [11][12]. - The company faces competition from Tencent in the new game genre, indicating a challenging landscape ahead [12].

Core Viewpoint - MiHoYo has taken significant legal action against game content leaks, reflecting its challenges in maintaining growth despite the success of its flagship games, Genshin Impact and Honkai: Star Rail [1][8]. Group 1: Legal Actions and Industry Impact - MiHoYo's "Special Action Against Game Leaks" has resulted in criminal measures against leakers and court orders to cease infringement activities [1][3]. - The leaked content includes unreleased game characters and software testing packages, with over 260 leakers held accountable [3][5]. - Industry experts warn that leaks can lead to competitors mimicking content, potentially damaging MiHoYo's reputation as an original creator [5][6]. Group 2: Financial Performance and Challenges - Genshin Impact has been a major revenue source, contributing over 70% of MiHoYo's income since its launch in 2020 [3][8]. - MiHoYo has faced declining rankings among mobile game publishers, often falling out of the top three in revenue [8][11]. - The player base for Genshin Impact is showing signs of fatigue, with some long-term players considering quitting due to repetitive gameplay and high costs associated with character acquisition [11][12]. Group 3: New Game Releases and Market Reception - MiHoYo's new title, Honkai: Star Rail, has become the second-largest revenue contributor since its release in 2023 [3][8]. - The new IP, Zenless Zone Zero, has underperformed, generating only one-third of Honkai: Star Rail's first-month revenue and dropping out of the iOS top 100 within 41 days [12]. - MiHoYo is attempting to diversify its game offerings, as seen with the upcoming release of Honkai: Star Rail's new game, Honkai: Inheritance Spirits, to compete in various genres [12][13].

Core Viewpoint - MiHoYo's recent "rights protection storm" reflects its growth bottleneck after rapid development, despite still relying on "Genshin Impact" and "Honkai: Star Rail" for revenue [3][12]. Group 1: Leak Management and Impact - MiHoYo has taken criminal measures against leakers of unreleased content from "Genshin Impact" and "Honkai: Star Rail," with over 260 leakers held accountable [4][6]. - Leaked content can lead to competitors mimicking features, potentially damaging MiHoYo's reputation as an original creator [6][7]. - The leaks disrupt the marketing strategy, causing user traffic to shift to unofficial channels, increasing revenue-sharing costs [7][9]. Group 2: Revenue and Market Position - MiHoYo has faced challenges in maintaining its position among the top mobile game publishers in China, frequently dropping out of the top three in revenue rankings [3][9]. - "Genshin Impact" has been a significant revenue source, contributing over 70% of MiHoYo's income since its launch in 2020, but is now facing player fatigue as it enters its fifth year [4][10]. - "Honkai: Star Rail," launched in 2023, has become the second major revenue pillar, but its performance has not met expectations [12]. Group 3: Player Engagement and Retention - Players are expressing dissatisfaction with the game's monetization mechanics, particularly the high costs associated with obtaining rare characters [11]. - The rapid consumption of game content by players outpaces MiHoYo's update schedule, leading to a decline in player engagement [10][11]. - New IP "Zhongli" has underperformed, with its first-month revenue only one-third of "Honkai: Star Rail," indicating challenges in replicating past successes [12]. Group 4: Internal Management and Future Strategies - The leaks highlight potential weaknesses in MiHoYo's internal confidentiality management and the need for better training and restrictions on employees and partners [7][8]. - MiHoYo is exploring new game genres, as seen with the upcoming "Honkai: Inheritance Spirits," to diversify its offerings and compete with other major players like Tencent [12].

Core Viewpoint - MiHoYo has achieved significant results in its "crackdown on game leaks" initiative, taking legal action against individuals leaking unpublished content from its games, including "Genshin Impact" and "Honkai: Star Rail" [1][3]. Group 1: Legal Actions and Measures - MiHoYo has employed a combination of criminal, administrative, and civil measures to combat leakages, ensuring a better gaming experience for players [1]. - The company reported that over 260 leakers have been held accountable for their actions, with several cases recognized as typical by the Supreme People's Court and other regulatory bodies, serving as a deterrent against illegal activities [3]. Group 2: Specific Cases of Leakage - In May, MiHoYo discovered that a content creator was disseminating unpublished game content, leading to the arrest of a suspect who admitted to profiting from the leaks [1]. - Another case involved individuals using illegal methods to obtain and share unpublished game versions, prompting MiHoYo to file a lawsuit and secure a court injunction against the infringers [2][3].

Core Viewpoint - The ongoing legal dispute between miHoYo and Tencent has seen new developments, particularly regarding the protection of user privacy and the enforcement of intellectual property rights in the gaming industry [1][3]. Group 1: Legal Proceedings - Tencent announced that it cannot provide user data requested by miHoYo without a formal judicial process due to privacy laws [1]. - A new civil lawsuit has been filed by miHoYo against Tencent, with the case set to be heard on September 5 in Shenzhen [3][6]. Group 2: Intellectual Property Protection - miHoYo has reported significant progress in its "anti-leakage" initiative, resulting in criminal measures against individuals leaking unpublished game content from titles like "Genshin Impact" and "Honkai: Star Rail" [6]. - The company has identified and taken action against over 260 leakers to date, emphasizing its commitment to protecting its intellectual property [8].

Core Viewpoint - The ongoing legal dispute between miHoYo and Tencent revolves around the protection of user privacy and the request for user data in a civil lawsuit initiated by miHoYo [1][3]. Group 1: Legal Proceedings - A new civil lawsuit has been filed by miHoYo against Tencent, with a court hearing scheduled for September 5 in Shenzhen [3]. - The case is categorized as "other civil" and is part of miHoYo's broader strategy to combat leaks and internal breaches within its gaming content [3][4]. - miHoYo has been actively pursuing legal actions against over 260 individuals involved in leaking game content since 2023 [7]. Group 2: Content Leakage and Enforcement Actions - miHoYo has reported significant findings of unauthorized disclosures of unreleased game content for titles like "Genshin Impact" and "Honkai: Star Rail" by various online influencers [4][7]. - The company has successfully collaborated with law enforcement to apprehend individuals involved in the illegal dissemination of game content, including a suspect who confessed to profiting from such activities [7]. - miHoYo's legal department has been conducting a "special operation against game leaks," resulting in criminal measures against those who leaked unreleased game content [3][4].