Core Insights - The article emphasizes the convergence of culture, technology, and valuation in future-oriented industries, particularly in digital assets and gaming sectors [1] Group 1: Digital Assets - The focus includes major cryptocurrencies such as XRP, Bitcoin, and Ethereum, which are reshaping global finance [1] - The analysis aims to identify early positioning in these digital assets that are leading the next cycle of growth [1] Group 2: Gaming Industry - The article covers gaming publishers like Nintendo, Capcom, and Square Enix, highlighting their role in transforming entertainment [1] - The approach combines discounted cash flow (DCF) and relative valuation methods to assess these companies [1] Group 3: Consumer Brands - Selected consumer brands such as Monster Beverage, Sprouts, and Macy's are analyzed, where brand strength and consumer behavior are key drivers of long-term value [1] - The analysis seeks to provide insights into how these brands can capitalize on market trends [1]

Core Insights - Lin Yunfeng, a key figure in NetEase's DreamWorks division, officially left the company on January 7 [1] - Lin previously served as the head of the DreamWorks division and was reassigned to lead the online gaming division's project "Fenghua Battle" [1] - The internal restructuring of the DreamWorks division is expected to be completed by October 2025, with Wu Weicong taking over as the new head [1] Company Changes - Lin Yunfeng was involved in the development of "Fantasy Westward Journey" since 2003 and became the second chief planner of the game [1] - In 2015, Lin was promoted to producer of "Fantasy Westward Journey" and head of the DreamWorks division [1] - The restructuring will see mobile projects move to the Sea God division, led by Chen Junxiong, while PC projects remain under the DreamWorks division [1]

公测当天，"鹅鸭杀手游公测"等相关话题轮番登陆抖音、B站、微博、小红书等平台热搜榜。当晚，游 戏官方赛事综艺《鹅斯卡之夜》第二季启动，游戏主理人大司马回归，与全明星主播阵容共同参与直 播，推高用户关注度。 此次《鹅鸭杀》手游的公测表现，被视为其端游IP人气与前期测试积累的反馈。虎牙方面表示，该成绩 体现了其通过内容营销带动渠道发行的模式有效性，未来将继续围绕游戏构建内容生态，拓展主播合作 与赛事玩法，以强化IP长效运营。 凤凰网科技讯 1月8日，由虎牙与金山世游联合发行的《鹅鸭杀》手游于1月7日正式开启公测。数据显 示，游戏上线24小时内新增注册用户突破500万，并迅速登顶iOS免费榜，同时在多家应用商店游戏榜 单中位列榜首。 ...

Group 1 - Lin Yunfeng, the former head of NetEase's DreamWorks division, has officially left the company after 22 years of service [1][3] - His departure follows a series of personnel adjustments within NetEase's interactive entertainment division, which included the restructuring of the DreamWorks division and the reassignment of key projects [3] - Lin was previously moved to oversee the self-operating chess game "Fenghua Duel" based on the "Yin Yang Master" IP, indicating that he was still involved in significant projects within the company [3] Group 2 - The restructuring at NetEase has led to the reassignment of the "Dream of Dreams" online game project to Wu Weicong, the producer of "Marvel Showdown," while the mobile team was integrated into the Sea God division [3] - The ongoing personnel changes at NetEase, including the departure of other key figures, suggest a potential shift in the company's market strategy and performance in the coming year [3]

Core Insights - Lin Yunfeng, the former head of NetEase's DreamWorks division, has left the company [1][2] - Following his departure, the mobile game team of "Dream of the West" has been integrated into the Sea God division [1][2] - Chen Junxiong, the head of the Sea God division, is also the producer of the "Dream of the West" mobile game [1][2] Company Background - Lin Yunfeng participated as a core planner in the development of "Dream of the West" in 2003 and later became the game's second chief planner [1][2] - In 2015, Lin was promoted to producer of "Dream of the West" and head of the DreamWorks division [1][2] - He was also responsible for the auto-chess game "Fenghua Duel" based on the "Onmyoji" IP [1][2]

对于虎牙来说，这也是虎牙的游戏发行模式：坚持通过内容打造、内容营销引领渠道的一次高度正向反 馈，并体现了虎牙在全网培育游戏直播内容生态、积累游戏生态资源的价值。 未来，我们将持续发挥虎牙的内容营销优势与经验，为鹅鸭杀打造游戏内容生态，拓展更多主播合作与 赛事综艺玩法，构建从内容观看到游戏参与的高效转化链路，扎实打造玩家社区文化，实现IP的长效运 营。 开服当天，"鹅鸭杀手游公测""你抢到鹅鸭杀极品id了吗"等诸多话题，全天轮番登陆抖音、B站、微 博、小红书等渠道热榜、热搜，成为开年首个"破圈"游戏爆款。 同时，1月7日晚，《鹅鸭杀》手游官方赛事综艺《鹅斯卡之夜》第二季正式启幕。游戏主理人大司马正 式回归鹅鸭杀，并带领全明星主播阵容参与录制、直播，再次引发《鹅鸭杀》用户狂欢。 整体来说，《鹅鸭杀》手游目前的渠道表现、社媒热度、市场反响，反映了端游积累的IP人气与两轮测 试期以及上线首日的主播种草、口碑沉淀。 由虎牙与金山世游联合发行的《鹅鸭杀》手游于1月7日正式公测开服，公测上线仅24小时新增注册用户 破500万，并登顶iOS免费榜，随后占据多家商店平台游戏榜榜首。 ...

Core Viewpoint - The departure of Lin Yunfeng, head of NetEase Interactive Entertainment's Dreamland Division, marks a significant change in leadership, with implications for ongoing projects and the future direction of the division [1]. Group 1: Leadership Changes - Lin Yunfeng has left his position, with no immediate plans for entrepreneurship, after being reassigned to the online gaming division a few months prior [1]. - He has been with NetEase for over 20 years, playing key roles in the development of the "Dream of the West" series and overseeing the Dreamland Division [1][2]. - The Dreamland Division has been a cornerstone of NetEase's gaming business, with Lin Yunfeng's leadership contributing to its success [3]. Group 2: Product Performance - The "Dream of the West" online game has been a major revenue driver for NetEase, achieving a peak concurrent user count of 358 million after the launch of a new server in July [2]. - The mobile adaptation of "Dream of the West" has also been successful, consistently ranking in the top ten of the iOS sales charts since its release in 2015 [3]. - Despite the success of the "Dream of the West" series, the Dreamland Division has faced challenges in expanding into new genres and developing new hit products [6]. Group 3: Project Developments - The division is currently focused on the development of "Fenghua Battle," a key project that has shown promising data performance during its iOS testing phase [1]. - Other projects, such as "Destiny: Stars," have experienced significant revenue declines after initial success, indicating volatility in the gaming market [6]. - The division has attempted to diversify its portfolio with various game types, but has struggled to produce long-lasting hits outside of the "Dream of the West" series [6].

富安达行业轮动混合（001660）成立日期2018年4月4日，最新规模1.62亿。今年以来收益2.53%，同类 排名5240/8825；近一年收益16.41%，同类排名5645/8084；成立以来收益41.9%。 从基金十大重仓股角度 数据显示，富安达基金旗下1只基金重仓世纪华通。富安达行业轮动混合（001660）三季度持有股数30 万股，占基金净值比例为3.84%，位居第十大重仓股。根据测算，今日浮盈赚取约27.6万元。 1月8日，世纪华通涨5.02%，截至发稿，报19.23元/股，成交23.15亿元，换手率1.81%，总市值1417.38 亿元。 资料显示，浙江世纪华通集团股份有限公司位于上海市浦东新区博云路22号，成立日期2005年10月31 日，上市日期2011年7月28日，公司主营业务涉及从事网络游戏开发和运营业务以及各类汽车零部件及 相关模具的研发、制造和销售。主营业务收入构成为：移动端游戏84.70%，电脑端游戏9.85%，汽车零 部件4.11%，网页端游戏0.76%，其他0.55%，云数据服务0.04%。 富安达行业轮动混合（001660）基金经理为栾庆帅。 截至发稿，栾庆帅累计任职时间4年1 ...

合作撤离类多人冒险游戏ARC Raiders发布至今已满两个 月，市场表现持续火热。该游戏目前已正式上线Steam、 Epic以及PS5和Xbox Series平台，覆盖主流PC与主机系 统。 根据平台公开数据，截至1月4日，ARC Raiders在Steam 平台的并发玩家峰值稳定在约46.6万人，接近此前创下 的48.1万历史最高纪录，显示出高达90%左右的玩家留 存水平。这一数据反映出游戏在发售后仍能有效维持用 户活跃度，长期吸引力较强。 相较之下，同期推出的其他同类作品则呈现明显下滑趋 势。例如，另一款热门射击游戏在发售初期峰值人数曾 达74.7万，但近期同时在线人数已回落至约11.8万，用户 流失幅度较大。相比之下，ARC Raiders在用户维系方面展现出更为稳健的表现。 合作撤离类多人冒险游戏ARC Raiders发布至今已满两个月，市场表现持续火热。该游戏目前已正式上 线Steam、Epic以及PS5和Xbox Series平台，覆盖主流PC与主机系统。 根据平台公开数据，截至1月4日，ARC Raiders在Steam平台的并发玩家峰值稳定在约46.6万人，接近此 前创下的48.1万历史最高 ...

Core Insights - The article discusses the evolving landscape of the gaming industry, particularly focusing on the "0.1折" model and its implications for long-tail markets [1][10][15] - There is a divergence in opinions among industry professionals regarding the potential of the long-tail market, with some viewing it as a savior while others see it as a potential risk to traditional market dynamics [1][15] Market Size and Dynamics - The long-tail market is estimated to be around 200 billion, with a revenue-sharing model of approximately 20% for developers and 80% for platforms [1][5] - Different regions exhibit varying attitudes towards the long-tail channels, with companies in Guangzhou and Shenzhen being more open to the 0.1折 model compared to those in Shanghai and Beijing [2][11] Game Characteristics and Entry Criteria - Games suitable for the long-tail market typically include value-driven genres like card games and MMOs, with a historical revenue benchmark of over 100 million being a key criterion for entry [2][12] - The 0.1折 model allows for a lighter development process compared to traditional BT versions, requiring fewer resources and a shorter timeline to launch [5][6] Operational Strategies - Successful companies focus on selecting games with established IP and quality, often prioritizing those with historical revenues exceeding 100 million [8][12] - The operational approach varies among publishers, with some opting for deep collaboration with developers while others provide code takeover services for games that have already been abandoned by their original teams [9][10] Market Perception and Future Outlook - The perception of the 0.1折 market is mixed, with some viewing it as a necessary adaptation to changing consumer demands, while others express concerns about its long-term viability and impact on brand integrity [15][20] - The long-tail market is seen as a potential lifeline for many smaller developers, providing a way to sustain older projects and fund new developments [5][18] User Behavior and Platform Dynamics - Users in the 0.1折 market are characterized as price-sensitive, with a clear understanding of gameplay and payment structures, leading to concentrated spending within the first month of engagement [20][22] - As competition among platforms intensifies, service capabilities such as customer support and transaction guarantees are becoming critical differentiators in the long-tail market [20][22]