自从广受好评的角色扮演游戏《光与影：33号远征队》发布以来，法国工作室Sandfall Interactive的核心成员飞往全球各地，与游戏界的许多同行见面交 流。《光与影：33号远征队》的创作灵感来源于"最终幻想""黑暗之魂"等游戏系列，如今，几位主创终于见到了他们心中的偶像。 "我们见到了太多鼓舞人心的前辈。"《光与影：33号远征队》游戏总监纪尧姆·布罗什（Guillaume Broche）说，"作为游戏界的传奇人物，他们制作了一大 批我们玩过并深深喜爱的游戏。我们在与他们交流时很放松，既畅谈游戏制作理念，还分享了对行业的一些想法。" 布罗什并不为与偶像见面感到紧张。"他们都很酷。无论是明星导演，还是一些名气相对较小，但我们真心喜欢的创作者，都跟我们讲同样的语言（游 戏）。" 许多玩家热衷于将《光与影：33号远征队》与令Sandfall受到启发的经典日式RPG进行比较，似乎想让它们分个高下，不过布罗什透露，Sandfall和其他开 发团队相互支持。"我很高兴地看到，即便是在制作或技术层面，导演和开发者们也愿意分享，不会觉得彼此之间存在竞争。"布罗什说，"大家的目标一 致，那就是在相互推动下提升自己，尽最大 ...

国内公司方面，网易发布2025年Q3财报，游戏业务营收增长11.8%；米哈游旗舰款新游《Varsapura》发 布实机演示视频。 合规监管与海外方面，Roblox实装"人脸识别认证"与强制年龄认证；育碧宣布腾讯完成对其新子公司的 战略投资；苹果开放日区Siri语音助手更换。 《33号远征队》获金摇杆年度游戏 近日，游戏界大众选择奖——金摇杆奖结果正式揭晓。Sandfall Interactive开发的《光与影：33号远征 队》摘得"终极年度游戏"桂冠，并同时包揽了最佳叙事、最佳视觉设计、最佳原声带以及最佳主角/配 角表演等多项大奖。 此外，《羊蹄山之魂》获年度主机游戏，《空洞骑士：丝之歌》获年度PC游戏，《蓝途王子》获最佳 独立游戏，《侠盗猎车手6》获最受期待游戏。 宝可梦卡牌获GooglePlay年度手游 11月18日，谷歌公布了Google Play 2025 年度最佳奖项获奖名单。由The Pokémon Company与DeNA共同 开发的《PTCG Pocket》摘得"年度最佳游戏"的桂冠。此外，中国厂商库洛旗下《鸣潮》也获得"最佳持 续运营游戏"（Best Ongoing）奖项。 TGA年度游戏提 ...

Core Insights - NetEase reported a net revenue of 28.4 billion yuan for Q3 2025, representing an 8.2% year-on-year growth, with a non-GAAP net profit of 9.5 billion yuan and R&D investment of 4.5 billion yuan, indicating a R&D intensity of 16% [1] - The gaming segment, particularly the classic IP "Fantasy Westward Journey," was a major driver of revenue growth, achieving record high concurrent users and mobile monthly active users [1] - The partnership with Blizzard has resumed, with several titles returning to the market, including "World of Warcraft" and "Diablo IV," enhancing NetEase's portfolio [2] Revenue and Growth - The gaming and related value-added services generated a net income of 23.3 billion yuan in Q3 [1] - Long-standing games like "Dahua Westward Journey," "Onmyoji," and "Identity V" maintained strong growth due to new version activities [1] - Internationally, NetEase's games performed well, with "Destiny: Stars" topping the iOS download charts in the US and Canada, and "Nirvana in Fire" mobile achieving high rankings in Japan and Malaysia [1] AI and Innovation - NetEase disclosed advancements in AI technology applications across the gaming production process, enhancing efficiency significantly [2] - The company has established over 1,000 new production pipelines, improving scene design efficiency by 70% and animation production efficiency by 30% [2] - AI code generation tools have increased development efficiency by 50%, with code quality reaching expert-level standards [2] Leadership Perspective - The CEO of NetEase emphasized the company's robust operations, reflecting healthy growth in the domestic market and expanding global influence, driven by innovative capabilities and quality gaming experiences [3]

Core Viewpoint - NetEase reported a strong performance in Q3 2025, with net revenue of 28.4 billion yuan, an increase of 8.2% year-on-year, driven primarily by its gaming and related value-added services [1] Financial Performance - Net income for Q3 was 28.4 billion yuan, up 8.2% year-on-year - Gross profit reached 18.2 billion yuan, reflecting a 10.3% increase - Non-GAAP net profit attributable to shareholders was 9.5 billion yuan [1] Business Segments - Revenue from gaming and related value-added services was 23.3 billion yuan, a year-on-year increase of 11.8% - Net revenue from NetEase Cloud Music and other innovative businesses was 2 billion yuan and 1.4 billion yuan, respectively - Youdao's revenue was 1.6 billion yuan, showing a growth of 3.6% [1] Market Performance - Long-standing products like "Fantasy Westward Journey" and "Onmyoji" have shown stable performance, contributing significantly to revenue growth - New versions and updates for these games have led to record-breaking user engagement and revenue [2] International Expansion - NetEase achieved significant recognition in the international gaming market, with three games nominated for the TGA awards, marking a historic milestone - The company is focusing on enhancing its global presence through strategic investments and partnerships [3][4] Future Outlook - The company is transitioning from merely replicating successful domestic models to creating tailored content for global markets - There is an expectation for continued growth in overseas markets, supported by strong game development capabilities and strategic resource allocation [5]

Core Insights - The Game Awards (TGA) announced its nominations for 2025, reflecting a mix of industry recognition and player/media controversies, highlighting the tension between developer intentions and player experiences [1] - This year's nominations appear conventional and lack significant surprises, with notable titles included in various categories [2][4] Nominations Overview - The "Game of the Year" nominees include titles such as "Light and Shadow: Expedition 33," "Death Stranding 2: Above the Abyss," "Doki Doki: Banana Power," "Hades 2," "Hollow Knight: Silksong," and "Kingdom Come: Deliverance 2" [2] - Best Narrative nominees feature "Light and Shadow: Expedition 33," "Death Stranding 2: Above the Abyss," "Soul of the Sheep Mountain," "Kingdom Come: Deliverance 2," and "Silent Hill f" [2] - Best Independent Game nominations include familiar titles like "Absolute Magic," "Balloon Battle," "Blue Path Prince," "Light and Shadow: Expedition 33," "Hades 2," and "Hollow Knight: Silksong" [4] - Best RPG nominees consist of "Oath," "Light and Shadow: Expedition 33," "Kingdom Come: Deliverance 2," "Outer Worlds 2," and "Monster Hunter: Wilderness" [4] - Best Multiplayer Game nominees include "Arc Raiders," "Battlefield 6," "Elden Ring: Nightfall," "PEAK," and "Dual Shadow Realm" [4] - The mobile game "Victory Peak" by Mutong Technology is nominated for Best Esports Game, marking its second consecutive nomination, competing against "Counter-Strike 2," "Dota 2," "Valorant," and "League of Legends" [4] - "Ming Tide" by Kuro Games is nominated for Best Mobile Game, also receiving a nomination for the second year [4] Industry Trends - The nominations this year lack significant controversy, indicating a competitive yet somewhat uninspired landscape, leading to perceptions of a "small year" for gaming due to the absence of standout titles [7] - The TGA's judging criteria, which heavily favors Western media, continues to draw criticism, particularly regarding the underrepresentation of Japanese RPGs and the growing dissatisfaction among domestic players towards the neglect of Chinese games [8][10] - Despite the criticisms, TGA maintains its status as the "Oscars of the gaming industry," with domestic companies like Tencent sponsoring the awards to gain international recognition [10]

Core Points - The Game Awards (TGA) announced its nominations for 2025, with several Chinese game developers receiving nominations, highlighting the increasing recognition of Chinese games in the global market [1][5] Group 1: Nominations and Awards - TGA features 29 regular awards, with six games nominated for "Game of the Year," including titles like "Light and Shadow: Expedition 33" and "Hades 2" [1] - "Light and Shadow: Expedition 33" stands out with 12 nominations, including "Game of the Year," "Best Game Direction," and "Best Narrative" [3] - Other notable nominations include "Ming Chao" for Best Mobile Game and "Mobile Legends: Bang Bang" for Best Esports Game, showcasing the diversity of genres represented [3] Group 2: Industry Insights - Analyst Zhang Shule noted that the frequency of Chinese games appearing at TGA is increasing, indicating a shift from occasional successes to a more consistent presence across multiple genres [5] - TGA, often referred to as the "Oscars of the gaming industry," has been held annually since 2014, recognizing excellence in various aspects of gaming [5] - The awards ceremony is set to take place on December 11 in Los Angeles, further emphasizing the event's significance in the global gaming industry [5]

Group 1 - In 2025, PC/console game downloads are expected to exceed 1 billion, with Steam holding the largest market share due to its dominance on the PC platform [1] - Steam's game purchase revenue is projected to grow by 15% compared to the same period in 2024, potentially surpassing $12 billion by the end of the year [3] - Action games (262 million downloads), shooting games (189 million downloads), and role-playing games (131 million downloads) are the most popular genres among PC/console players in 2025 [5] Group 2 - Electronic Arts (EA) is currently the highest download publisher, benefiting from sports and IP game series, as well as collaborations like "Split Fiction" and "It Takes Two" [8] - Microsoft and Sony rank second and third respectively, with Sony's content performing better on PlayStation and Microsoft's content being more popular on Xbox, largely due to the integration with Game Pass [8] - Notable games include "Marvel Rivals" by NetEase, which is the most downloaded PC/console game this year, and Kepler Interactive's "Clair Obscur: Expedition 33" and "REMATCH" gaining significant traction [11] Group 3 - In the AAA game sector, sports games like "EA SPORTS FC 25" and "NBA 2K25" continue to dominate, while the action RPG "Monster Hunter Wilds" also performs strongly [14] - The AA game "Clair Obscur: Expedition 33" has received critical acclaim and surpassed "NBA 2K25" in downloads [14] - The independent game "R.E.P.O." has the highest sales, reflecting its popularity in content creation circles, while the second-ranked independent game "Schedule I" achieved comparable download performance at double the price [14]

Core Insights - The game "Light and Shadow: Expedition 33" has quickly gained popularity, achieving over 1 million sales within three days of its release and receiving high praise from French President Emmanuel Macron as a model of French creativity [1][6][21] - The game has been recognized for its innovative blend of traditional JRPG elements with modern gameplay mechanics, receiving a Metacritic score of 94 and an 83% positive rating on Steam [7][6] - Despite its initial success, there are concerns regarding the game's narrative coherence and gameplay mechanics, which some players find disjointed and challenging [8][15] Game Development and Team Dynamics - The game's development team, consisting of only 25 members, benefited from a close-knit working environment that allowed for efficient communication and decision-making, contrasting with larger companies where lengthy approval processes can stifle innovation [21][22] - The game director, Guillaume Broche, noted that if the project had been developed by a larger company like Ubisoft, it could have taken up to 25 years to complete [21] Market Position and Reception - "Light and Shadow: Expedition 33" has been described as a "viral game," leveraging social media and influencer marketing to create a perception of quality that may not fully align with player experiences [15][16] - The game has sparked discussions about the nature of JRPGs, challenging traditional frameworks and inviting debate on what constitutes the genre [26] Gameplay Mechanics and Design - The combat system has been a focal point of discussion, with elements inspired by action games like "Devil May Cry," aiming to create a dynamic and engaging experience [9][11] - However, the game has faced criticism for its lack of clear guidance and overly complex mechanics, which may alienate casual players [19][20] Visual and Audio Experience - The game is praised for its high-quality visuals and sound design, which contribute to an immersive experience, although some players have reported issues with gameplay fluidity and control [15][26] Industry Trends - The success of "Light and Shadow: Expedition 33" highlights the potential for small teams to create impactful original IPs, suggesting a shift in the industry towards valuing creativity and efficiency over traditional large-scale development [21][26]

Group 1 - The game "It Takes Two" developer Hazelight Studios announced that its new cooperative game "A Way Out" has surpassed 4 million copies sold since its release on March 6, indicating strong market performance, especially in China [1] - "A Way Out" achieved 1 million sales within the first two days, significantly faster than its predecessor, which took nearly a month to reach the same milestone [1] - The success of "A Way Out" highlights the enduring appeal of high-quality game IPs and may influence market strategies for game developers and investor expectations for future product lines [1] Group 2 - Xishanju's MMO mobile game "Jianxia Qingyuan Zero" is set to launch a full-platform public test on May 29, featuring innovative gameplay elements such as AI management and customizable character creation [2] - The announcement of the public test date is expected to attract a broader user base and increase market interest in Xishanju's future products, potentially influencing the development strategies of similar MMO mobile games [2] Group 3 - Sensor Tower reported that in April 2025, 33 Chinese mobile game publishers made it to the global revenue ranking, collectively earning $2 billion, which accounts for 38.4% of the total revenue of the top 100 mobile game publishers worldwide [3] - Leading companies such as Tencent, NetEase, and Mihayou continue to dominate the revenue rankings, reflecting the competitive strength of Chinese game publishers in international markets [3] - This performance may prompt investors to pay closer attention to the overseas business prospects of these companies and provide confidence for future international market expansion [3] Group 4 - Valve's Steam platform revealed that "Light and Shadow: Expedition 33" topped the sales chart, outperforming "The Elder Scrolls IV: Oblivion Remastered," indicating strong market interest in specific game genres [4] - In the Chinese market, "Light and Shadow: Expedition 33," "Mingmo: The Feather of Abyss," and "A Way Out" ranked among the top three in sales, showcasing the popularity of these titles [4] - This trend may guide investors to focus on the future product strategies of the game developers and publishers involved, providing insights into the types of games that resonate with consumers [4]

Group 1 - The game "Light and Shadow: Expedition No. 33" achieved over 1 million sales within three days of its release, indicating strong demand in the gaming market [1] - The game received high scores on Metacritic, with player ratings at 9.7 and media ratings at 9.2, making it the highest-rated game of the year so far [1] - The success of "Light and Shadow: Expedition No. 33" may positively impact related companies' stock prices due to its quality and market acceptance [1] Group 2 - Bethesda's "The Elder Scrolls IV: Oblivion Remastered" has surpassed 4 million players since its release, showcasing the ongoing growth potential in the gaming industry [2] - The game reached a peak of 205,499 concurrent players in the last 24 hours, indicating strong player engagement and interest [2] - The positive reception of "Oblivion Remastered" is likely to drive attention from the capital markets towards game development and publishing companies [2] Group 3 - Paper Games issued an apology regarding the voice actor change in "Shining Nikki," highlighting the importance of user experience in game operations [3] - The controversy surrounding the voice change may exert pressure on Paper Games and the gaming sector, particularly for products with significant player emotional investment [3] - The development of a voice-switching feature indicates the company's proactive approach to addressing player concerns, though future player reactions remain to be seen [3]