Core Insights - The Chinese gaming market reached a scale of 857.04 billion yuan in Q1 2025, showing a year-on-year growth of 17.99% but a quarter-on-quarter decline of 1.21% [1] - Both mobile and client games contributed to the overall year-on-year growth of the gaming market, with new products and cross-platform games providing additional revenue [1] - The overseas sales revenue of self-developed Chinese games was 4.805 billion USD, reflecting a year-on-year increase of 17.92% [27] Mobile Gaming Market - The actual sales revenue of the mobile gaming market in Q1 2025 was 636.26 billion yuan, with a year-on-year growth of 20.29% but a quarter-on-quarter decline of 2.18% [9] - Key long-standing products like "Honor of Kings" and "Crossfire: King of Guns" achieved historical revenue highs, demonstrating their long-term potential [9] - New products such as "Dungeon & Fighter: Origin" and "Endless Winter" contributed significantly to the year-on-year growth of the mobile gaming market [14] Client Gaming Market - The client gaming market reached a scale of 179.19 billion yuan in Q1 2025, with a year-on-year growth of 6.85% and a quarter-on-quarter growth of 3.62% [5] - Revenue growth in the client gaming market was driven by operational activities during holidays and the performance of new cross-platform products [5] - "Delta Force" saw a continuous increase in active users, reaching a new high this quarter [5] New Game Releases - The top new game in Q1 2025 was "Heroes Never Die," which maintained a strong presence in the iOS game sales rankings [25] - Two IP adaptation products entered the top three, with "Dragon Nest World" attracting a significant number of new and returning users [25] - The first-month revenue estimates for the top new games included "Heroes Never Die" and "Dragon Nest World," both exceeding 300 million yuan [26] Overseas Market Performance - The overseas market for self-developed Chinese games saw significant contributions from titles like "Last War: Survival Game" and "Whiteout Survival," with a total revenue of 4.805 billion USD [27] - "Frost Survival" and the new title "Inferno Nine" were highlighted for their strong performance in key overseas markets [31] - The marketing strategies for "Inferno Nine" included collaborations with local KOLs and high-quality promotional materials, enhancing its appeal in the competitive MMORPG market [31]