Core Insights - The Chinese gaming market experienced significant growth in July 2025, with a total market size of 29.084 billion yuan, reflecting a month-on-month increase of 8.14% and a year-on-year increase of 4.62% [1] - The client game market reached 6.637 billion yuan in July, showing a month-on-month growth of 13.13% and a year-on-year growth of 16.56% [1] - The mobile game market size was 21.36 billion yuan, with a month-on-month increase of 6.36% and a year-on-year increase of 0.92% [1] Market Performance - The client game market's growth was driven by mature products, new releases, and cross-platform products, with notable contributions from new titles like "Douluo Dalu: Hunting Soul World" and "The Legend of the Great Voyage" [1] - The mobile game market saw strong performance from new releases and mature products, particularly "Delta Action," which doubled its revenue due to seasonal updates and promotional activities [1] - "Honor of Kings" implemented multiple operational activities in July, contributing to its revenue growth [1] International Expansion - In July 2025, the actual sales revenue of Chinese self-developed games in overseas markets reached 1.693 billion USD, with a month-on-month increase of 8.2% and a year-on-year increase of 6.76% [2] - The new title "Staff Sword Legend" performed well, ranking first on the iOS free chart in Japan shortly after its launch [2] - A series of supportive policies for the gaming industry have been introduced since 2025, including initiatives to promote game exports and the development of the entire industry chain from IP creation to overseas operations [2][3] Policy Support - Various regions, including Guangdong, Zhejiang, and Beijing, have implemented policies to support the gaming industry, with Guangdong launching the first provincial-level special policy for high-quality development in the gaming sector [2] - The policy includes 13 measures focusing on original content, technological innovation, and industry clusters, with rewards of up to 5 million yuan for quality projects [2] - Zhejiang's measures aim to support game companies in international development and foster high-quality AAA game projects [3]

Game Launch Overview - In July 2025, a total of 11 new key mobile games were launched, including titles from Tencent Games, KuLo Games, and others [1] Game Performance Analysis - "Douluo Continent: Soul Hunting World" has established strong competitiveness in the MMORPG sector through its open world, IP fidelity, and multi-soul combat system. It is the first 3D realistic MMO RPG mobile game based on the Douluo IP developed by 37 Interactive Entertainment [2] - The game features unique innovations such as an open world, multi-soul combat design, and deep character development, along with multiple branching storylines and a sect social system. It achieved significant success, topping the iOS free charts in multiple regions and maintaining the number one position in China for four consecutive days [2] - On July 12, the game reached a peak daily download of 113,776 times. As of August 15, the corrected total revenue for the iOS mobile version was $4,643,377, with a peak daily revenue of $323,467 on July 20. Initial revenue growth has stabilized after a decline [2] Investment Outlook - The number of game licenses issued in July 2025 remains high, with a continuous release of industry product reserves and a stabilizing market environment, indicating promising performance for new games. There is a recommendation to focus on quality game developers with innovative capabilities and effective IP adaptation and fidelity [2]

Group 1 - The core viewpoint of the article highlights the growth of China's gaming market, with the client game market reaching 6.637 billion yuan in July 2025, showing a month-on-month increase of 13.13% and a year-on-year increase of 16.56% [2] - The growth in the client game market is primarily driven by mature products, new releases, and cross-platform products, which allow account and data interoperability between client and mobile platforms [2] - Notable new releases contributing to the market growth include "Douluo Dalu: Hunting Soul World" and "The Legend of the Great Voyage," while the long-term product "Honkai: Star Rail" also saw significant revenue growth [2] Group 2 - The mobile game market in China reached 21.36 billion yuan in July 2025, with a month-on-month increase of 6.36% and a year-on-year increase of 0.92% [2] - The new release "Delta Operation" performed well due to seasonal updates and collaborative events, achieving a month-on-month revenue doubling [2] - Mature product "Honor of Kings" implemented multiple operational activities in July, which contributed to its revenue growth [2] Group 3 - In terms of overseas sales, China's self-developed games generated actual sales revenue of 1.693 billion USD in July 2025, reflecting a month-on-month increase of 8.2% and a year-on-year increase of 6.76% [2] - The new release "Staff Sword Legend" performed notably well, ranking first on the iOS free chart in Japan for three consecutive days after its launch [2]

Group 1: Game Releases - Tencent's new MMO "Star Resonance" officially launched on July 17, 2023, and topped the iOS free chart on its opening day [1] - "I Am Surrounded by Beautiful Women! 2" was released on Steam on July 17, 2023, maintaining romance simulation elements while focusing on ancient costume comedy and suspense [3] - "The Age of Discovery: Legends" was launched on July 17, 2023, allowing players to navigate as sailors during the 16th-century Age of Discovery [5] - Nintendo's "Donkey Kong: Bananarama" was released on July 17, 2023, receiving an average score of 91 from 87 media outlets on Metacritic, with IGN giving it a perfect score [7] - "Lily's "Far Light 84" began its third testing phase on July 18, 2023, featuring first-person shooting and multi-civilization warfare gameplay [9] Group 2: Industry News - Century Huatong released its 2025 first-half performance data on July 14, 2023, reporting a consolidated revenue of approximately 17 billion, a year-on-year increase of about 83.27%, and an expected net profit of 2.4 billion to 3 billion, reflecting a year-on-year growth of 107.20% to 159.00% [15] - The Shanghai Game Industry Report for the first half of 2025 was published on July 15, 2023, indicating that the overall sales revenue of online games in Shanghai reached approximately 83.28 billion, a year-on-year increase of 10.80%, with domestic revenue at 68.74 billion and overseas revenue at 14.55 billion, both achieving double-digit growth [17]

Group 1 - Bilibili collaborates with 505Games to jointly publish the domestic game "Mingmo: Yuanshu Zhi Yu" in China, enhancing its influence in the single-player game sector and attracting more game developers for future collaborations [1] - Lingxi Interactive Entertainment announces the full platform open beta for "Age of Discovery: Legend" on July 17, expanding its product line and market share in the historical culture game sector [2] - The official DNF mobile game simulator will launch on July 23, aiming to increase market share and profitability by attracting more users accustomed to playing games on computers [3]

Core Viewpoint - The gaming industry is experiencing a surge in new game releases during the summer of 2025, driven by the availability of university students and major events like ChinaJoy, which encourages companies to showcase their new titles [3][5]. Game Releases - In June, 20 new games were launched in China, with July seeing over 20 additional titles set to release, including Tencent's "Star Resonance" and NetEase's "Unowned Star Abyss" [4][6]. - Notable games include "Limitless Machine" by Xishanju and "Carbon Island" by Tencent, both released on July 2, marking the start of the summer gaming season [4]. Market Dynamics - The gaming stock market has shown volatility, with significant gains on July 8, as companies like Iceberg Network and Giant Network saw increases of over 10% and 5% respectively [3][8]. - The approval of 757 game licenses in the first half of the year, including a record 158 in June, indicates a stable trend in the gaming industry [8]. Nostalgia and Updates - Established games are also seeing updates and new versions, such as the nostalgic version of "Fantasy Westward Journey," which has attracted significant player interest, leading to server congestion [6][7]. - The strategy of updating older games helps maintain player engagement and ensures stable revenue for gaming companies [7]. Policy Support - Various local governments have introduced supportive policies for the gaming industry, focusing on promoting game exports and integrating AI technology [8]. - The trend of regular game license approvals is expected to continue, fostering a more robust gaming environment [8]. Industry Trends - The gaming industry is witnessing a diversification of genres, with companies exploring new gameplay mechanics and AI integration [9]. - The emergence of party games like "Goose Duck" is expected to intensify competition among major players like NetEase and Tencent [9].

Core Insights - The article discusses the tumultuous history of the game "Uncharted Waters Online" (大航海时代OL), highlighting its significant impact and the challenges it faced due to multiple changes in its operating rights and management issues [1][3][10]. Group 1: Game History and Impact - "Uncharted Waters Online" was first introduced in 2004 and achieved a record of 400,000 concurrent users during its initial launch [7][10]. - The game has gone through three closures and three relaunches, earning the title of "the online game with the most closures in Chinese history" [3][14]. - The IP has been influential in China, ranking second in popularity among Koei's titles, following the "Romance of the Three Kingdoms" series [2]. Group 2: Operational Challenges - The game has faced significant operational challenges, including a lack of understanding from Japanese developers regarding the needs of overseas players, leading to repeated crises in its management [7][22]. - The first operator, Shengxuanming, lost the rights due to various disputes, including profit-sharing disagreements and management issues, which led to a loss of player trust [10][11]. - Subsequent operators also struggled, with user data loss and server shutdowns occurring multiple times, resulting in a two-year hiatus before the game was relaunched by Tianxi Network [12][14]. Group 3: Game Design and Player Experience - The game features a complex economic system and over 50 character classes, which can be challenging for players unfamiliar with its mechanics [20][22]. - The design philosophy of Japanese developers often disregards the preferences and expectations of international players, leading to a disconnect between the game and its audience [15][17]. - The article emphasizes that successful operation requires collaboration among developers, operators, and players, which has historically been lacking in the case of "Uncharted Waters Online" [22][31]. Group 4: Future Prospects - New projects based on the "Uncharted Waters" IP are emerging, including "Uncharted Waters: Sea Overlord" and "Uncharted Waters: Legend," with varying degrees of development and potential for success [25][29]. - The article suggests that the current environment for game development in China is more mature, with better collaboration between developers and local companies, which may lead to more stable operations for future titles [31][33].