本报（chinatimes.net.cn）记者于玉金 北京报道 1月9日，AI新星MiniMax在港上市，米哈游作为投资方成功投出了第一个上市公司，而其投资的另一家 公司Suplay也传来捷报，已正式赴港递交上市申请。 作为游戏新贵，米哈游在游戏领域曾大赚特赚，也早已开启投资业务，其在2022年6月因"踩雷"五矿信 托被外界熟知。如今，其投资领域也颇为广泛，从与自身业务协同的米画师、吾立方等；再到投资火箭 公司等前沿科技。 投资公司上市大涨 MiniMax上市首日股价收涨109.09%，报345港元/股，市值为1054亿港元。这家明星AI公司成立不足4 年、几乎全员"95后"，成功刷新全球AI领域从创立到上市的最短时间纪录。 市场对MiniMax的新股认购反响极为热烈，其中公开发售部分获得1837倍超额认购，国际发售部分亦获 37倍认购。MiniMax上市引入Aspex、Eastspring、Mirae Asset、ADIA、阿里、易方达等14位基石投资 者，投资者类型包括国际长线、头部科技、中资长线及产业战略等维度，认购总额3.5亿美元（约27.23 亿港元）。 2022年，米哈游投资了AI公司MiniMa ...

Core Insights - The article highlights the emergence of Shanghai's Xuhui District as a central hub for the gaming industry, hosting over 70 leading gaming companies and aiming to create a global gaming innovation center [1][2]. Group 1: Industry Development - The 2025 China Game Industry Annual Conference will be held in Xuhui, showcasing the district's ambition to attract a trillion-yuan gaming industry [1]. - Xuhui has established a specialized service platform for the gaming industry, the "Xuhui District Game Industry Service Center," to support the growth of gaming companies [2][3]. Group 2: Support for Startups - The service center collaborates with over 30 professional departments to provide a comprehensive support system, including investment attraction, compliance assurance, talent services, and technical support [3]. - Xuhui has initiated the construction and operation of five gaming incubators to foster early-stage gaming companies, with the "Xuhui Caohejing Light of Hope Game Gathering Base" attracting eight innovative firms [4][5]. Group 3: Financial Support and Policies - The district has introduced policies to support cultural and creative industries, including gaming, with funding up to 30 million yuan available for companies engaged in product development and technology application [7]. - A collaborative mechanism has been established where leading companies like miHoYo and Eagle Horn Network support smaller startups through technical cooperation [7]. Group 4: Future Plans - Xuhui is working on a development plan for the gaming industry from 2024 to 2026, focusing on creating a research center for premium games, a global distribution center, and a service platform for high-quality industry development [8].

来源：泰山财经 泰山财经记者 李迪 张子川 郑旭雯 赵诗婕 曹鑫鑫 林俊洁 张清岚 12月9日，由泰山财经出品的2025全球鲁商百富榜正式发布，300位山东籍企业家财富估值共计2.05万亿元，平均财富估值68.34亿元，上榜门槛3.45亿元。 在这份榜单中，我们首次关注全球知名山东籍企业家。他们中既有大部分人坚守本土"大本营"，在生于斯长于斯的家乡创造财富；亦有不少人走出省外乃 至走出国门，在更广阔的天地施展拳脚。 2025全球鲁商百富榜的首富是魏桥创业的张波，财富估值为775.3亿元。2018年，他从父亲张士平手中接过企业接力棒，带领这家有着四十多年历史的滨 州企业朝着"百年制造企业"继续前行。 同样拥有超过700亿元财富的蔡浩宇，则从出生地济南走向上海，在上海交通大学计算机科学专业硕士毕业后，与同学创立米哈游。凭借《崩坏学园》 《原神》等现象级游戏，今年38岁的蔡浩宇创富738亿元，在榜单中排在第二位。 此外，榜单前十还包括华勤集团的牛宜顺家族、中际旭创的王伟修家族、信发集团的张刚、南山集团的宋建波、太阳控股的李洪信家族、金岭集团的赵曰 岭家族、泰山体育的卞志良和希音的许仰天，他们的财富估值均超过了400 ...

Core Viewpoint - The article discusses the unveiling of miHoYo's new flagship game "Varsapura," highlighting its unique realistic rendering style and narrative approach, which diverges from the company's previous fantasy-themed games [5][7][11]. Group 1: Game Development Insights - "Varsapura" features a high-density open world and realistic character expressions, marking a significant technical and artistic challenge for the development team [6][9]. - The game incorporates psychological themes and aims to shift narrative styles from anime to a more Western TV series-like storytelling [7][29]. - The gameplay introduces new mechanics such as drivable vehicles and stealth elements, showcasing a departure from traditional action game formats [9][38]. Group 2: Producer's Journey - Cai Haoyu, the producer, has faced challenges since the success of "Genshin Impact," including a failed project codenamed PJSH, which led to a period of reflection and a pivot towards AI research [11][26][27]. - The development of PJSH encountered significant design challenges, particularly in creating a coherent gameplay experience within a realistic urban setting [22][24]. - After the failure of PJSH, Cai Haoyu redefined his vision for "Varsapura," focusing on a narrative-driven experience that balances realism with character-driven storytelling [29][32]. Group 3: Future Aspirations - The article emphasizes Cai Haoyu's commitment to creating innovative gaming experiences, with "Varsapura" aiming to blend high freedom gameplay with deep narrative elements [40][42]. - The game seeks to establish a complex relationship network among NPCs and player characters, influenced by AI technology, which Cai Haoyu has been researching [40][41]. - The overarching goal remains to create a virtual world that resonates with players, reflecting Cai Haoyu's long-term vision of transforming the gaming landscape [47][51].

Core Insights - The flagship new game "Varsapura" developed by miHoYo and HoYoverse has been officially unveiled, showcasing a significant departure from the company's previous works and the industry as a whole [1][2] - The game features high-precision realistic rendering and a stylized aesthetic, moving away from the fantasy style that miHoYo is known for [3][4] - The narrative approach has shifted towards a more psychological theme, incorporating elements of American TV series storytelling, with detailed character expressions and camera work [4][6] Development Journey - The producer Cai Haoyu has invested significant effort into "Varsapura," with a 30-minute gameplay demonstration script personally crafted by him [6][8] - After the success of "Genshin Impact," Cai faced a challenging period without a major release for five years, leading to a deep reflection on his creative direction [7][25] - The initial project, codenamed PJSH, aimed to innovate but faced numerous design challenges, ultimately leading to its cancellation after two years of development [18][24] Gameplay and Features - "Varsapura" introduces new gameplay mechanics, such as drifting vehicles and stealth assassination, which are a first for miHoYo [5][40] - The game aims to create a high degree of narrative freedom, with branching storylines influenced by player choices, differing from traditional linear narratives [4][30] - The development team is focusing on integrating gameplay with storytelling, ensuring a seamless experience that enhances narrative immersion [36][40] Artistic Direction - The game adopts a realistic urban setting, contrasting with the fantasy worlds of previous titles, and aims to tell deeper, more relatable stories [30][33] - The artistic style is a blend of realism and stylization, with character designs that maintain a realistic appearance while incorporating unique elements [37][38] - The team is exploring advanced physics engines to enhance vehicle gameplay, aiming for a more engaging driving experience [38][40] Future Aspirations - Cai Haoyu's vision for "Varsapura" includes leveraging AI to create a dynamic, responsive game world where player actions significantly impact the environment [42][49] - The project reflects a commitment to innovation and a desire to push the boundaries of game design, with a focus on creating a unique gaming experience [43][51] - The overarching goal remains to build a virtual world that resonates with players, aligning with the company's long-term mission of creating immersive experiences [47][51]

说来有点难以相信，宋涛甚至都未接触过米哈游团队时，就拍板把钱投了下去。他本人回 忆，当时公司在做移动互联网软件商店，运营团队发现一家名为米哈游的公司游戏上线后 数据表现很好，转而推荐给了公司投资部。那时蔡浩宇等人还未毕业，公司团队接触一番 感觉不错，就将米哈游的融资计划书带了回来。 宋涛看了计划书，第一印象是觉得比起他大学创业时的策划水平高出不少，"这些人很优 秀， 钱也不多就投吧，没反对就投下去了 。" 一切看起来充满了随意性。 绝境之时，斯凯网络宋涛给这个初创团队投了1 0 0万元，解了几个年轻人的燃眉之急。 这便是米哈游的天使投资故事。多年后《原神》爆火，米哈游一跃成为中国游戏行业让人 望尘莫及的存在。宋涛，则是这个现象级公司的天使投资人，也是唯一的外部投资方。 "VC集体错过了米哈游"。这段故事夹杂着幸运与遗憾，向来引人窥探。日前在20 25天使 投资大会上，宋涛本人现身首次复盘了米哈游投资过程。正如一位知名投资人向投资界聊 起，这更像是一个归于"运气"的故事。 "只是偶然投了一笔" 回报2万倍 "运气" 作者 I 杨继云 报道 I 投资界PEdaily 2 0 1 2年，蔡浩宇、刘伟、罗宇皓花光了全 ...