《斗罗大陆魂师世界》

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游戏产业跟踪:暑期档以来游戏行业保持高热度,看好行业景气度延续
2025-09-28 14:57
Summary of the Gaming Industry Conference Call Industry Overview - The gaming industry in China has maintained high activity levels since the summer, with a market size of approximately 29 billion yuan in July, reflecting a year-on-year growth of nearly 5% [1][4] - Mobile game revenue showed a slight increase, with several new games performing well, such as "Douluo Dalu: Soul Master World," which generated over 100 million yuan in its first month [1][4] - The market size remained stable in August compared to July, but there was a year-on-year decline, with mobile game revenue decreasing by 4% [1][4] Key Insights - The overall performance of the gaming industry has been positive this year, supported by a relaxation of policies and an acceleration in supply growth [2] - The industry is in an upward trend, with new game launches significantly boosting company performance [2] - The release of 156 game licenses in September, including 145 domestic and 11 imported, indicates a healthy regulatory environment [6][7] Company-Specific Developments - Huatuo's core overseas products have shown strong performance, leading to an 11% month-on-month increase in revenue for Diandian Interactive [8] - Giant Network's game "Supernatural" has exceeded expectations in revenue stability, with plans to launch an overseas version next year [8] - Key products approved include new titles from Tencent, NetEase, and miHoYo, indicating strong competition among major players [6][7] International Market Performance - Chinese self-developed games generated nearly 1.7 billion USD in overseas revenue in July, with a year-on-year growth in single digits [5] - Despite a 10% year-on-year decline in August due to high base effects, some products like KingShow's "Frost Knight" maintained strong growth, with a 20% month-on-month increase [5] Future Trends - The legendary game market is substantial, with annual revenues of 30-40 billion yuan, and more legendary games are expected to enter the market [9] - Future growth will come from expanding partnerships with larger companies, the introduction of 25 key legendary games, and enhancements in PC, live streaming, and item trading functionalities [9] Product Development and AI Initiatives - Kaiying Network is entering a new product cycle, with "Blood of the River and Lake" launched in South Korea and plans for several new titles by 2025-2026 [10] - The AI product EVE is expected to launch by the end of the year, and the AI gaming platform Soon may begin commercialization [10] Performance of Key Companies - Gigabit has consistently outperformed expectations, with "Sword of the Hero" showing strong overseas revenue growth of 14% month-on-month in August [11] - Perfect World and Shenzhou Taiyue have new titles in development, with Perfect World's "Yihuan" showcased at the Tokyo Game Show [12] Overall Market Sentiment - The gaming industry remains strong, with companies performing well even in the traditionally slower month of September [13] - Continued investment opportunities are recommended in companies such as Giant Network, Kaiying Network, ST Huatuo, Perfect World, Gigabit, Shenzhou Taiyue, and Sanqi Interactive [13]