Core Insights - The gaming industry is witnessing a significant influx of new titles, with 124 games either launched or in testing in Q1 2026, of which 84.7% have obtained approval numbers [1][44] - A notable trend is the migration of 21 games from the Steam platform to mobile, indicating a shift towards innovative gameplay and artistic styles that may rejuvenate the mobile gaming market [1][44] - Several new games have shown promising market performance, including "Survival 33 Days," "Crazy Water World," "Goose Duck," "Counterattack: Future," and "Arknights: End of the World," which have all achieved strong rankings in various app stores [6][10][15][17] Game Launches and Performance - Five standout games have performed well at the start of 2026, with "Survival 33 Days" leading the charge, achieving top rankings on both WeChat and Douyin mini-game platforms shortly after launch [6][8] - "Crazy Water World," a survival simulation game, has also maintained a strong presence in the top 10 of mini-game rankings and is showing upward momentum in the iOS charts [10][11] - "Goose Duck," a social deduction game, has rapidly gained a large user base, surpassing 1 million users within six days of its mobile launch [13] - "Counterattack: Future," a PvE shooter, has successfully positioned itself within the top 20 of the iOS game rankings shortly after its release [15] - "Arknights: End of the World," a strategy RPG, has also made a strong debut, reaching the top ranks in the iOS charts [17] Upcoming Titles and Trends - The upcoming quarter is set to feature several high-potential titles, including Tencent's "Kingdom of Rock," NetEase's "Forgotten Sea," and FunPlus's "Imo," all of which are expected to enter testing soon [19][30] - The trend of porting games from PC to mobile is gaining traction, with complex genres like SOC and Roguelike also being adapted for mobile platforms, indicating a broader acceptance of diverse gameplay styles in the mobile market [44][48] - The industry is experiencing a renewed sense of optimism, with the potential for quality products to thrive despite challenges, suggesting a possible turnaround in market sentiment [47]

最近，巨人网络又有新的动态消息： 旗下现象级游戏《超自然行动组》官宣日活突破1000万。 在此之前，《超自然行动组》正处于周年庆活动中，项目组动作不断——不仅官宣了首位全球品牌代言人赵露思及新的地图内容，还推出了"AI 大模型挑 战"玩法，成为国内首个在大DAU游戏中深度融合AI大模型的AI原生玩法。 同时，当我们回望2025年会发现，"微恐" 游戏赛道的快速崛起，更是离不开《超自然行动组》这个爆款的强势表现。 如今，这款现象级产品在正式上线一年后，其市场数据究竟呈现出怎样的成长曲线？在内容与传播层面，又有哪些值得关注的动作？ 今天，DataEye研究院就来聊聊这款游戏。 一、《超自然行动组》上线一年数据复盘 （一）榜单走势：前期蓄力、中期加速爆发，展现出极强的市场韧性 点点数据显示，《超自然行动组》于2025年1月23日正式上线，产品在上线初期并未采取激进冲榜策略，而是经历了一段相对理性的市场验证与用户积累 阶段，榜单表现呈现出阶段性震荡特征。 直到6月末暑期档前夕，《超自然行动组》开始显现增长势能，冲进了iOS免费榜TOP10，并在7月20日攀升到iOS免费榜第2的位置。在此之后，《超自然 行动组》在iO ...

We came across a bearish thesis on Unity Software Inc. on Darius Dark Investing’s Substack. In this article, we will summarize the bears’ thesis on U. Unity Software Inc.'s share was trading at $29.10 as of January 30th. U’s forward P/E was 81.97 according to Yahoo Finance. Games, gaming, gamer Photo by Alex Haney on Unsplash Unity Software Inc. operates a platform to create and grow games and interactive experiences for mobile phones, PCs, consoles, and extended reality devices in the United States and ...

Core Insights - The article highlights the significant American companies that have shaped the nation's identity and economy as it approaches its 250th birthday, emphasizing their cultural and historical impact rather than just financial metrics [1][2]. Group 1: Visa - Visa was established in 1958 as BankAmericard, launching the first consumer credit card in the U.S. [3][6] - The company rebranded as Visa in 1976 and went public in 2008, currently holding a market cap of $632 billion [4][6]. - Visa operates in over 220 countries and territories, accepted at more than 175 million merchants [7]. Group 2: Meta (Facebook) - Facebook was founded in 2004 by Mark Zuckerberg and quickly grew to 1 billion users by 2012, later rebranding to Meta in 2021 [9][13][14]. - The platform has faced controversies regarding user data and misinformation but remains a dominant social media service with over 3 billion regular users [15]. Group 3: Boeing - Boeing, established in 1916, is a leading aerospace company known for producing commercial jets and military aircraft [15][16]. - The company has faced challenges in recent years, including safety allegations and COVID-19 impacts, but continues to be a major player in the industry with a market cap of $185 billion [20][21]. Group 4: Tesla - Tesla was founded in 2003, with Elon Musk joining in 2004, and has become synonymous with electric vehicles, launching the Model 3 in 2017 as the best-selling electric car [23][27]. - The company has a market cap of $1.4 trillion and is recognized for driving electric vehicles into the mainstream [28]. Group 5: Patagonia - Patagonia was founded in 1973 by Yvon Chouinard, known for its commitment to sustainability and donating 1% of sales to environmental causes [30][33]. - The company has expanded from climbing gear to a wide range of outdoor apparel and is estimated to have a market cap of $3 billion [33]. Group 6: Intel - Intel was founded in 1968 and became a leader in semiconductor technology, introducing the first programmable microprocessor in 1971 [34][35]. - The company has maintained a significant market presence, controlling approximately 75% of the CPU market as of 2025 [38]. Group 7: HP - HP was established in 1939, initially focusing on sound equipment and later becoming a leader in personal computers and printers [40][42]. - The company split into HP Inc. and Hewlett Packard Enterprises in 2015, with HP Inc. having a market cap of $18 billion [45]. Group 8: Nike - Nike was founded in 1964 as Blue Ribbon Sports and rebranded in 1971, becoming a dominant player in the sportswear market with a 14% share in 2024 [46][50]. - The company gained fame through its endorsement deal with Michael Jordan, significantly boosting its brand recognition [48]. Group 9: Kodak - Kodak was founded in 1888 and became a pioneer in photography, introducing innovations like roll film and the first digital camera [51][54]. - The company filed for bankruptcy in 2012 and now focuses primarily on commercial printing and imaging [56]. Group 10: IBM - IBM was established in 1911 and became synonymous with computing, initially focusing on tabulating machines and later dominating the PC market [59][62]. - The company has shifted its focus to consulting, software, and cloud computing, with a market cap of $291 billion [67]. Group 11: Paramount Pictures - Paramount Pictures, founded in 1912, is recognized as the longest-operating major studio in Hollywood, producing numerous iconic films [68][70]. - The studio has undergone various mergers and continues to be a significant player in the entertainment industry with a market cap of $12 billion [74]. Group 12: Netflix - Netflix was founded in 1997 as a DVD rental service and transitioned to streaming in 2007, becoming a leader in the industry [77][80]. - The company has a market cap of $351 billion and announced plans to acquire Warner Bros. Discovery in 2025 [81]. Group 13: FedEx - FedEx was founded in 1971, revolutionizing overnight delivery with a centralized hub model [83][84]. - The company has introduced several innovations in the shipping industry and has a market cap of $74 billion [88]. Group 14: Motown - Motown Records, established in 1959, played a crucial role in integrating Black artists into mainstream pop music [91][92]. - The label produced numerous hits and helped launch the careers of many iconic artists, although it faded in prominence during the 1970s [94][96]. Group 15: PepsiCo - PepsiCo was formed in 1965 through the merger of the Pepsi-Cola Company and Frito-Lay, becoming a leading global food and beverage brand [99][100]. - The company is known for its innovative marketing strategies and has a significant rivalry with Coca-Cola [101]. Group 16: Levi Strauss - Levi Strauss, founded in 1853, is known for creating the first riveted blue jeans, which have become a cultural staple [104][106]. - The company continues to sell a wide range of apparel and remains a significant player in the fashion industry [106]. Group 17: Microsoft - Microsoft was founded in 1975 and became a leader in software development, particularly with its Windows operating system [109][110]. - The company has expanded into gaming, cloud services, and AI, with a market cap of $7.8 billion [112]. Group 18: The Home Depot - The Home Depot was established in 1978, focusing on providing a wide range of building supplies and home improvement products [115][116]. - The company has a strong commitment to community initiatives, particularly supporting veterans, and has a market cap of $3.2 trillion [118]. Group 19: WK Kellogg Company - WK Kellogg Company was formed from the original Kellogg's brand, known for its iconic cereals and snacks [121][123]. - The company underwent a reorganization in 2023, with its cereal business spun off into a new entity [123].

Core Viewpoint - The market's panic reaction to Google's AI tool "Project Genie" is deemed unreasonable, as the stock price declines of game developers appear to be an exaggerated overreaction [1][2]. Group 1: Impact of Project Genie - Google's "Project Genie" is an AI prototype tool that generates virtual 3D worlds, raising concerns about its potential disruptive threat to traditional game developers [1]. - Following the announcement, stocks of Unity Software Inc., Roblox Corp., and CD Projekt SA experienced significant declines, although Unity and Roblox saw a rebound in trading on the following Monday [1]. - CD Projekt's stock continued to decline for the third consecutive trading day, indicating ongoing pressure in the European gaming sector [1]. Group 2: Analyst Insights - mBank analyst Piotr Poniatowski argues that the market's sell-off overlooks the current limitations of Project Genie, suggesting that the reaction is an "unreasonable overreaction" [2]. - The tool currently offers limited gameplay duration and experience, indicating that it is far from being a mature commercial application [2]. - Poniatowski believes that AAA game studios may actually benefit from such AI tools, as they possess strong IP and immersive storytelling capabilities that are unlikely to be easily undermined [2]. - Wedbush analyst Alicia Reese supports this view, stating that existing platforms still maintain a strong competitive position and that AAA studios will not lose their value proposition from a game production perspective [2].

Core Viewpoint - Huya Inc. is enhancing its position in the gaming and live streaming industry by attracting top-tier e-sports talent, exemplified by the return of former professional player Jian "Uzi" Zihao for a special live stream on February 3, 2026 [1][2]. Group 1: Company Developments - The return of Uzi highlights Huya's appeal as a preferred platform for e-sports talent, showcasing its ability to attract and support leading streamers [2]. - Huya has cultivated an ecosystem that enables content creators to produce high-quality broadcasts, supported by a comprehensive portfolio of licensed e-sports tournaments and self-produced events [3]. - The company is expanding its innovative game-related services, including game distribution and in-game item sales, while leveraging advanced technologies to enhance its entertainment ecosystem [4]. Group 2: Industry Position - Huya differentiates itself from generalist platforms by providing specialized support for gaming content creators, fostering long-term engagement between streamers and their audiences [2][3]. - The increasing recognition of Huya's streamer network across various content platforms strengthens its competitive position within the gaming and live streaming industry [2].

"打王者荣耀总是被匹配机制所套路！"这是青岛律师孙千和作为老玩家发出的感慨。她从2017年接触该游戏，到如今已经是王者水平，但她仍觉得，王者 荣耀的匹配机制会在玩家玩了一段时间后，故意匹配比较菜的队友，导致输掉战局；在连续输了多局之后，又会匹配到高手"带飞"，这种把玩家"玩于股 掌"之中的机制十分不公平。她在和身边的玩家交流后，发现不少人有同感，于是2024年6月，孙千和向深圳市南山区人民法院提交起诉状，起诉深圳市腾 讯计算机系统有限公司、腾讯科技（成都）有限公司，请求判其公开《王者荣耀》的玩家对局匹配机制。2025年2月18日，法院正式立案。同年8月12日， 该案在深圳开庭。一审并未当庭宣判，2026年1月22日，南山区法院将案由从原本的"网络服务合同纠纷"变更为"数据纠纷"。孙千和告诉记者，让她欣慰 的是，案由变更意味着未来更多游戏玩家遇到代练封号、账号被盗、游戏道具被删，或是像她这样质疑算法公平性时，都能找到精准的案由起诉。 九年老玩家"又爱又恨"的"较真" 2025年2月18日，青岛律师孙千和收到了法院的立案通知书，这意味着一场围绕"游戏算法知情权"的诉讼，正式进入司法程序。为了支撑自己的主张，她 整 ...

Core Insights - Valve's new game "Deadlock" has achieved a peak concurrent player count of 100,558 on Steam following the "Old Gods, New Blood" major update, marking its best performance since testing began [1][3] - The game had maintained an average daily online player count of around 30,000 prior to the update, indicating a significant increase in interest and engagement [1][3] Player Engagement - The update has been well-received by core players, with some expressing that it reflects Valve's high standards, while others question the sudden surge in player numbers for a game in testing for nearly two years [1][3] - The "Old Gods, New Blood" update has been credited with addressing player pain points and aligning with trends in the MOBA shooter genre, leading to a doubling of player engagement [4][5] Gameplay Innovations - The introduction of the "Street Brawl" fast-paced mode has been highlighted as a key factor in attracting players, featuring a 4v4 format and a BO5 short match structure that focuses on pure shooting and skill interactions [5][6] - The mode includes a random item system that levels the playing field for all players, reducing the entry barrier for newcomers and enhancing the game's enjoyment [6][8] Game Mechanics - "Deadlock" combines MOBA and shooting mechanics, allowing for a lightweight shooting experience that is accessible to both MOBA and shooter players [10][13] - The game features a unique economy system where players collect "soul orbs" from defeated minions, which simplifies the traditional last-hitting mechanic while maintaining economic ties to shooting [13][15] Community Involvement - The order of new hero releases is determined by player votes using in-game tokens, fostering a strong sense of community involvement and increasing player retention [12] - The game has undergone extensive optimizations, including UI improvements and bug fixes, which have contributed to a smoother gameplay experience [9][21] Long-term Viability - Despite the initial surge in player numbers, there are concerns about whether this interest can be sustained over the long term, particularly regarding the balance of new heroes and the ongoing innovation of core gameplay modes [19][21] - The game faces challenges in retaining new players due to high learning costs and a lack of intuitive gameplay experiences, which could hinder its long-term success in a competitive market [22][21]

Core Insights - The self-chess game market, which has been stable for nearly seven years, is about to change with the upcoming release of "Wangzhe Wanxiangqi" [1] - This game, backed by the "Honor of Kings" IP, is seen as a strong challenger in the self-chess market due to its similar product positioning and logic to successful titles like "League of Legends: Teamfight Tactics" and "Gold Shovel Shovel Battle" [3][4] - Despite the potential, the success of "Wangzhe Wanxiangqi" is not guaranteed, as previous attempts by "Honor of Kings" to enter the self-chess genre did not yield significant results [3][4] Market Positioning - Major game developers are re-entering the self-chess market with established IPs and differentiated gameplay, including Tencent's "Wangzhe Wanxiangqi" and others from NetEase and Mihayou [4] - "Wangzhe Wanxiangqi" must address two core questions: why existing users would switch from familiar games like "Teamfight Tactics" and how to effectively convert the large user base of "Honor of Kings" into players of "Wangzhe Wanxiangqi" [4] Gameplay Innovation - The game aims to redefine the enjoyment of self-chess by lowering the entry barrier and creating a "easy to learn, hard to master" experience [6][8] - It simplifies traditional self-chess mechanics, such as the upgrade system, allowing players to enhance hero levels directly by playing matching cards, thus enhancing the gameplay experience [10][12] - The game introduces a unique keyword ability system for heroes, focusing on straightforward interactions rather than complex combinations, which is a significant innovation in the game's design [12][14] Economic and Strategic Systems - "Wangzhe Wanxiangqi" adopts a fixed energy allocation system, encouraging players to commit to a specific strategy from the start, which enhances the depth of gameplay [18][22] - The game features a bidding system that allows players to compete for key cards, maintaining a balance between fairness and competitive dynamics [20] - The economic system encourages players to explore the depth of their chosen strategy rather than spreading their focus too thin [22] Visual and Commercial Aspects - The game emphasizes a stylish visual design and immersive experience, which is crucial for attracting and retaining players [29][31] - The monetization strategy is expected to focus on character skins and visual elements, similar to "Gold Shovel Shovel Battle," but with unique character skills that enhance gameplay [35][37] - The game aims to leverage the vast user base of "Honor of Kings" to achieve commercial success, with a focus on creating a party-like gaming experience [41] Competitive Landscape - "Wangzhe Wanxiangqi" does not aim for a direct competition with "Gold Shovel Shovel Battle" but rather seeks to expand the overall market by attracting non-typical self-chess players [38] - The game targets a diverse audience, including users from other popular IPs, to grow its player base [38] - The long-term success of "Wangzhe Wanxiangqi" will depend on its ability to maintain player engagement and adapt to feedback over time [45]

Performance Highlights - New Yi Sheng (300502.SZ) expects net profit between 9.4 billion and 9.9 billion CNY, a year-on-year increase of 231.24% to 248.86% due to rising demand for high-speed optical modules driven by global computing power investments[4] - Han's Chip (688256.SH) anticipates net profit between 1.85 billion and 2.15 billion CNY, turning from a loss of 450 million CNY last year, benefiting from the growing demand for AI computing power[5] - Zhongji Xuchuang (300308.SZ) projects net profit between 9.8 billion and 11.8 billion CNY, a year-on-year growth of 89.50% to 128.17%, driven by strong customer investment in computing infrastructure[6] - Runze Technology (300442.SZ) expects net profit between 5 billion and 5.3 billion CNY, a year-on-year increase of 179.28% to 196.03%, largely due to non-recurring gains from public REITs issuance[10] Underperformance Highlights - Great Wall Motors (601633.SH) forecasts net profit of 9.912 billion CNY, a year-on-year decline of 21.71% due to increased marketing expenses and competitive pressures[36] - GAC Group (601238.SH) expects a net loss between 8 billion and 9 billion CNY, turning from a profit of 824 million CNY last year, impacted by fierce competition and increased asset impairment provisions[39] - Xiexin Integrated (002506.SZ) anticipates a net loss between 890 million and 1.29 billion CNY, shifting from a profit of 68 million CNY last year due to structural supply-demand issues in the photovoltaic industry[41] - Baile Tianheng (688506.SH) projects a net loss of around 1.1 billion CNY, down from a profit of 3.708 billion CNY last year, primarily due to increased R&D expenses[42] Industry Trends - Technology-driven sectors like AI and innovative pharmaceuticals are leading growth, with companies like New Yi Sheng and Han's Chip benefiting from strong demand and technological advancements[69] - Cost control is becoming a critical competitive advantage, particularly in the energy and manufacturing sectors, as seen with companies like Datang Power (601991.SH) benefiting from lower coal prices[70] - Traditional cyclical industries such as real estate and agriculture are facing significant downward pressure, with companies like Vanke (000002.SZ) and Tianbang Foods (002124.SZ) experiencing substantial losses due to market adjustments[72]