Core Insights - In December 2025, 33 Chinese companies made it to the global mobile game publisher revenue ranking TOP 100, collectively generating $1.95 billion, accounting for 34.6% of the total revenue of the global TOP 100 mobile game publishers [1] Group 1: Tencent's Performance - Tencent secured the top position in global mobile game publisher revenue for December 2025, driven by multiple successful titles, with "Honor of Kings" leading the Chinese iOS mobile game sales chart and generating over $2 billion in revenue for the year [1] - The game "Delta Force" saw a remarkable revenue increase of 2900% year-on-year, surpassing $500 million in cumulative revenue [1] Group 2: Point Point Interaction's Growth - Point Point Interaction ranked second in the global mobile game publisher revenue ranking, with "Whiteout Survival" achieving over $4 billion in cumulative revenue, showcasing its long-term operational value [2] - The game "Tasty Travels: Merge Game" experienced a 30% month-on-month revenue increase in December, contributing significantly to Point Point Interaction's revenue growth [2] Group 3: Lemon Games' Steady Growth - Lemon Games maintained its third position in the revenue ranking with a 10% revenue growth, driven by holiday-themed events for flagship products like "Gossip Harbor" and "Seaside Escape," which saw revenue increases of 11% and 6% respectively [2][3] - The overall revenue for Lemon Games surged by 165% year-on-year [2] Group 4: NetEase's Success - NetEase's "Where Winds Meet" launched on December 12, 2025, and quickly topped the iOS download charts in several regions, achieving high sales and positive reviews [4] - The game contributed to a 16% month-on-month revenue increase for NetEase in December, placing it fourth in the revenue ranking [4] Group 5: Paper Games' Record Performance - Paper Games' "Love and Deep Space" topped the global mobile game sales chart in December, with a 122% month-on-month revenue increase, reaching $930 million in global revenue [5][6] - The game is expected to surpass the $1 billion revenue mark soon, significantly boosting Paper Games' overall revenue by 90% [5] Group 6: Other Notable Publishers - Other Chinese mobile game publishers in the global TOP 100 include BeHeFun Games, Giant Network, and Xindong Network, totaling 33 companies [5] - Tencent's titles "Honor of Kings," "Delta Force," and "Peace Elite" dominated the Chinese App Store mobile game revenue ranking, occupying the top four positions [5]

Summary of Key Points Core Insights - The casual gaming sector is leading global downloads, with hyper-casual games showing significant growth in the first three quarters of 2025, followed by puzzle and action games [4][27]. - A combination of video and playable ads is emerging as a strong strategy, enhancing user engagement and interaction [5]. - South America is the most active region for ad spending, leading globally in the number of ad materials, with video ads making up nearly 85% of the total [6][42]. - Meta continues to dominate mobile game advertising budgets, with significant spending in both casual and hardcore gaming categories [7][50]. - AI technology is being leveraged to enhance user interaction through engaging video ads and digital personas, improving retention and conversion rates [8]. Global Mobile Gaming Overview - The global mobile game downloads are projected to reach 38.9 billion in the first three quarters of 2025, marking a 7.4% year-over-year increase. Android remains the dominant platform with an 80.8% share, while iOS accounts for 19.2% [20]. - The global mobile gaming revenue is expected to hit $82.5 billion (approximately 583.14 billion yuan), reflecting a 13.2% year-over-year growth, with iOS contributing 39.6% and Android 60.4% [20]. - In terms of monetization, 32.2% of revenue comes from ad-based income (IAA), while 67.8% is generated from in-app purchases (IAP) [20]. Game Category Competition Analysis - Hyper-casual games lead in downloads with 5.7 billion, followed by puzzle games at 4.5 billion and action games at 3.3 billion in the first three quarters of 2025 [22]. - In terms of revenue, shooting and puzzle games perform well under ad-driven models, with IAA contributing significantly to their income [27]. - The puzzle game segment saw a steady increase in active games, peaking at 8,300 in July 2025, indicating strong market vitality [63]. Advertising Material Trends - Video ads dominate mobile game advertising, accounting for approximately 81% of total ad materials, while playable ads are gaining traction [37]. - South America leads in ad material volume, with video ads being the preferred format, while Europe shows a higher adoption of playable ads [42]. - Meta remains the top channel for ad spending across various game categories, showcasing its continued dominance in mobile game advertising [50]. Case Studies - "Screwdom 3D" has successfully combined IAP and IAA monetization strategies, achieving over 31.9 million downloads and $91.6 million in revenue, with the U.S. and Japan as key markets [105]. - "Word Search Explorer" effectively integrates word puzzle gameplay with scenic exploration, achieving significant growth in the U.S. and Latin American markets [120]. - "Match Villains" utilizes a narrative-driven approach in its advertising, leading to substantial engagement and growth in the U.S. market [134].

Group 1 - The core data indicates that the US mobile gaming lifecycle is generally long, with the average launch time for the top 200 revenue-generating mobile games in 2024 being approximately 7 years, which is higher than the global average [3] - The US mobile gaming market size has surpassed 150 billion yuan, with a steady growth trend observed from 2022 to 2024, increasing from 126.9 billion yuan in 2022 to 151.6 billion yuan in 2024, representing a year-on-year growth of 9.7% [5][8] - The US mobile gaming market is projected to reach 260 billion yuan by 2030, with a compound annual growth rate of 9.5% from 2025 to 2030, indicating significant growth potential due to strong user payment willingness and a large number of console and PC players yet to transition to mobile platforms [9] Group 2 - The US mobile gaming market shows low new product vitality, with only 7 new games expected to launch in 2024 among the top 200 revenue-generating mobile games, resulting in a new product ratio that fluctuated from 3.0% to 3.5% from 2020 to 2024 [2] - The primary types of mobile games in the US market in 2024 include gambling (20%), elimination (19.5%), strategy (15.5%), and casual games (7%), indicating a concentration in these categories [4]

Core Viewpoint - Core AI Holdings, Inc. has divested Siyata Mobile Inc. to streamline operations and focus on its core artificial intelligence initiatives, which is expected to enhance financial performance and shareholder value [1][2][3] Financial Impact - The divestiture is projected to eliminate approximately $12 million in annual cash burn, significantly reducing net losses from $12.5 million to $4.8 million for the nine months ended September 30, 2025, marking an improvement of $8.7 million [2][4] - Total assets decreased from $51.6 million to $31.6 million, reflecting a $20 million reduction due to the divestiture, while total liabilities decreased from $22.4 million to $18.3 million, improving the balance sheet by $4.1 million [5] Strategic Focus - The company aims to invest more aggressively in its AI platform and pursue targeted growth initiatives that can scale efficiently, thereby driving sustained revenue growth and long-term shareholder value [3][2] - Core AI's mission is to leverage artificial intelligence to create transformative and scalable offerings across various sectors, with a focus on mobile games development and publishing [6]

Core Insights - The global mobile gaming market has demonstrated remarkable resilience and maturity, successfully returning to a growth trajectory after the pandemic-driven surge and subsequent market adjustment [1] - By 2025, in-app purchase revenue is expected to reach $82 billion, with 135 mobile games projected to generate over $100 million each, totaling $50.8 billion [1] - Strategy games are leading in revenue generation, expected to attract nearly $15 billion, highlighting their high-paying player base and long lifecycle [1] - Puzzle games show significant commercial potential due to their broad user base and stable conversion rates, emphasizing the importance of refined operations [1] Market Trends - The global mobile game download volume has stabilized at over 5 billion downloads per year, indicating a structural maturity in the market [1] - Publishers are focusing on refined operations to extend game lifecycles and enhance user quality and lifetime value [1] Leading Titles - The survival strategy games "Last War: Survival" and "Whiteout Survival" are projected to dominate the global mobile game revenue rankings, with expected annual revenues of $2.4 billion and $2.2 billion respectively [7] - These titles exemplify the leading advantages of the strategy genre in driving high-paying players and long-term value [7]

Core Insights - In November 2025, global mobile game spending reached $6.68 billion, a month-over-month decrease of 2.8% [5] - The United States led the market with a 32.3% share of total revenue, followed by China (iOS only) at 14.4% and Japan at 12.4% [5] - Global mobile game downloads totaled 3.62 billion, down 4.1% month-over-month [9] Revenue Rankings - "Last War: Survival Game" topped the global revenue chart, driven by its alliance-based gameplay and competitive live operations [2] - "Whiteout Survival" and "MONOPOLY GO!" ranked second and third, respectively, due to impactful seasonal events that enhanced user engagement [4][5] - "MapleStory: Idle RPG" led the revenue growth list, benefiting from strong IP appeal and targeted monetization strategies [6] Download Rankings - "Block Blast!" was the most downloaded game, supported by continuous content updates and a Thanksgiving-themed event [8] - "ROBLOX" secured the second position, aided by significant operational events throughout November [8] - "Solitaire Associations Journey" topped the download growth list, combining classic card mechanics with word association gameplay [10] User Engagement Strategies - Publishers focused on thematic rewards and social activities to boost user engagement during November [4] - Seasonal events like "Thanksgiving Festival" and "Turkey-tastic Times" effectively maintained player activity and monetization [5][6] - The success of these live operations highlighted the importance of seasonal rewards and collectible-driven mechanisms in enhancing user participation [5]

Core Insights - In November 2025, 33 Chinese companies ranked in the global mobile game publisher revenue TOP 100, collectively generating $1.95 billion, accounting for 35.8% of the total revenue of the global TOP 100 mobile game publishers [1] Group 1: Company Performance - Tencent maintained its position as the top global mobile game publisher, driven by strong performance from its flagship products [1] - The game "Delta Action" launched a new season on November 13, achieving record daily revenue and topping the global mobile game sales chart for two consecutive days [1] - In November, "Delta Action" saw a month-on-month revenue increase of 12%, nearing $80 million, with a cumulative revenue of $450 million [1] - Tencent's "Delta Action" continues to lead the global shooting game segment, being one of its highest-grossing mobile games, second only to "Honor of Kings" [1] Group 2: Competitor Analysis - Diandian Interactive secured the second position in the global mobile game publisher revenue ranking, solidifying its status as a leading Chinese mobile game company [1] - Lemon Microfun demonstrated steady revenue growth, successfully ranking third in the publisher revenue list, showcasing its strength in the synthesis game segment [1] - Tencent's "Honor of Kings" and "Delta Action" retained the top two spots in the Chinese App Store mobile game revenue ranking [2]

Core Insights - In November 2025, 33 Chinese companies made it to the global mobile game publisher revenue TOP 100, collectively generating $1.95 billion, accounting for 35.8% of the total revenue of the top 100 publishers [1] - Tencent maintained its position as the top global mobile game publisher, driven by strong performance from its flagship titles [1] - The mobile game market is witnessing significant revenue growth, with several companies reporting substantial increases in income due to new game releases and innovative gameplay [4][5] Group 1: Tencent's Performance - Tencent's "Delta Force" new season "Asala" launched on November 13, achieving a record high daily revenue, with a month-over-month increase of 12%, nearing $80 million in global mobile revenue [1] - "Delta Force" has become one of Tencent's highest-grossing mobile games, second only to "Honor of Kings" [1] Group 2: Point Point Interactive's Growth - Point Point Interactive ranked second among global mobile game publishers, with its flagship SLG "Whiteout Survival" contributing 54% of its revenue in November, totaling over $3.8 billion [2] - The new title "Kingshot" also performed well, accounting for 36% of revenue, while the casual merge game "Tasty Travels: Merge Game" saw a 10% revenue increase, ranking fourth in the global merge game revenue chart [2] Group 3: Lemon Microfun's Success - Lemon Microfun ranked third in publisher revenue, with three titles in the top ten of the global merge game revenue chart [3] - "Gossip Harbor" saw a 211% year-over-year revenue increase, while "Seaside Escape" maintained a strong position in the market [3] - The new title "Flambé: Merge & Cook" achieved a 20% revenue increase in November, further solidifying Lemon Microfun's dominance in the merge game sector [3] Group 4: Ice Age Network's Breakthrough - Ice Age Network's new game "X-Clash" experienced a 200% month-over-month revenue surge, contributing 45% to the publisher's total revenue [4] - The company returned to the revenue ranking at 26th place, showcasing its strength in gameplay innovation and overseas expansion [4] Group 5: Other Notable Performers - BeHeFun Games debuted at 30th place in the revenue ranking with "Top Tycoon: Coin Theme Empire," which saw a 30% revenue increase in November, nearing $30 million in total revenue [4] - Other Chinese mobile game publishers in the global TOP 100 include Xindong Network and Chaoxi Guangnian, among 32 companies [4] Group 6: Chinese App Store Rankings - Tencent's "Honor of Kings" and "Delta Force" topped the Chinese App Store revenue chart [5] - "Delta Force" experienced a 38% revenue increase following the launch of a new limited-time gameplay feature [5] - miHoYo's "Honkai: Star Rail" saw a 460% revenue surge in November, returning to the top 8 in the iOS market [5][6]

Core Insights - The 18th edition of the AppsFlyer Advertising Platform Performance Report marks the 10th anniversary of the report, highlighting a significant recovery in the global mobile application market, with in-app purchase (IAP) revenue expected to exceed $150 billion in 2024, a 13% year-on-year increase, the highest growth rate since 2021 [1][2] - The growth is primarily driven by non-gaming applications, which saw a 25% increase in spending, while AI application downloads surged over 200%, indicating a strong upward trend in the market [1][2] Advertising Budget Trends - The report indicates a rebound in mobile advertising budgets for 2025, with iOS contributing significantly to this growth. Budget allocation reflects a dual trend of "concentrated investment" and "selective expansion" [2] - Concentrated investment is evident as 60% of the top five media channels experienced year-on-year growth, while 80% of channels ranked 6-10 also saw increases. In contrast, only 30% of channels ranked 11-20 showed growth, indicating a strategic shift towards proven effective channels [2] - On the Android side, spending remains focused on top media, while iOS advertisers are diversifying their investments across mid-tier channels, suggesting a more balanced approach [2] Report Methodology Changes - Due to the implementation of Apple's App Tracking Transparency (ATT) framework, the report's statistical methods and ranking dimensions underwent significant adjustments in 2023. However, it continues to categorize data into gaming and non-gaming segments for both iOS and Android platforms [3][4] - The report analyzed 92 media channels based on 39,000 applications, 16.2 billion paid activations, and 9.6 billion re-engagement conversions, introducing a new "Creative Index" to evaluate media channel performance [3][4] Gaming Market Insights - The global mobile gaming market peaked at $58.8 billion in 2021 but has since stabilized between $53 billion and $57 billion, indicating a shift towards refined operations and structural adjustments [5] - The report provides a comprehensive ranking of media channels for gaming applications, with notable performances from platforms like Search Ads, AppLovin, and Google Ads across both iOS and Android [8][9] Non-Gaming Market Dynamics - In the non-gaming sector, the top media channels remain stable, with Apple Ads, Meta, Google, TikTok for Business, and Snapchat leading the competition. The focus is on deeper engagement in niche scenarios and user lifecycle value [23][27] - The report highlights the emergence of new media channels in the mid-tier segment, indicating a dynamic shift in the advertising landscape [23] Creative Index Insights - The newly introduced Creative Index evaluates the effectiveness of various ad formats, focusing on user engagement and conversion drivers. It assesses performance across different ad types, including animation, live-action, and user-generated content (UGC) [40][41] - In the gaming sector, AppLovin leads in overall creative performance, particularly in "playable" and "animation + live-action" categories, while TikTok for Business shows strong results in UGC [41][42]

Core Viewpoint - Core AI Holdings, Inc. is set to host an investor conference call on December 4, 2025, to discuss operational progress and strategic developments aimed at sustainable long-term growth [1]. Company Overview - Core AI Holdings, Inc. is a global AI-driven mobile games developer and publisher based in Miami, focusing on creating entertaining games for millions of players worldwide [2]. - The company has developed and co-developed over 2,200 games, achieving over 800 million downloads and a user base exceeding 40 million across more than 140 countries [2]. Conference Call Details - The investor conference call will take place at 4 p.m. Eastern Time on December 4, 2025, with toll-free and international call options provided [2]. - A webcast link for the conference call is available for participants [2]. - Replay information for the conference call is also provided, including toll-free and international numbers along with a passcode [2].