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Core Insights - The collaboration between Qingci Games and Disney marks a significant development in the competitive gaming industry, with the company's stock rising by 16.84% following the announcement, indicating strong market expectations for this partnership [1] - Qingci Games will develop and publish the game "Disney: Book of Legends" under a three-year licensing agreement, set to launch in stages starting in 2026 across various markets including mainland China, Hong Kong, Macau, Taiwan, Singapore, Malaysia, Thailand, and South Korea [1] User Base and Long-term Operations - Qingci Games has established a robust user base, surpassing 100 million registered players as of June 30, 2025, reflecting a year-on-year growth of 7.56%, with a dedicated community of 16.2 million "Qingci Iron Fans," up 8.22% [3] - The company reported an average of 140,600 monthly paying users and an ARPPU (Average Revenue Per Paying User) of 289.79 yuan, a 5.26% increase year-on-year, indicating strong user engagement and monetization potential [3] Product Performance - The flagship idle game "The Strongest Snail" has generated over 3.786 billion yuan in total revenue and has attracted 29.4 million registered players by June 30, 2025, with ARPPU increasing by 50% during its five-year anniversary [4] - The successful operational model of "The Strongest Snail" is expected to be replicated for "Disney: Book of Legends," enhancing its chances for successful launch and long-term operation [4] Global Distribution Framework - Qingci Games has developed a scalable global distribution system, enabling it to effectively manage multiple regional and genre projects, which supports the successful execution of the Disney partnership [6] - The company has seen its overseas revenue share rise from 28.47% in 2023 to 43.93% in 2024, demonstrating the effectiveness of its global distribution strategy [7] Strategic Value and Future Growth - The partnership with Disney is anticipated to enhance user acquisition by attracting new fans while leveraging the existing user base, potentially expanding the player ecosystem [9] - The collaboration will also refine Qingci Games' capabilities in multi-regional operations and localization, preparing the company for future global game launches [9] - The ongoing development of other projects, such as "Project E," alongside the Disney collaboration, will further solidify the company's growth strategy focused on high-quality game development and global expansion [9]

Core Insights - Qingci Games Limited has officially surpassed 100 million registered players globally, marking a significant milestone in its efforts within the global gaming market [1][3] - The company has successfully established its influence in the global gaming sector through a strategy focused on high-quality and personalized products [1] Group 1: Company Achievements - Since its establishment in 2012, Qingci Games has created several popular games characterized by innovative gameplay and distinctive artistic styles, referred to as "Qingci Style" by players [3] - The self-developed game "Unusual Maze," launched in 2016, has been pivotal in leading the domestic Rogue-like mobile game trend, being recognized as a must-play title in the genre [3] - The game "The Strongest Snail," released in 2020, has generated approximately RMB 3.629 billion in revenue by the end of 2024, achieving high rankings in various regions including Hong Kong, Taiwan, Japan, North America, Southeast Asia, Australia, and Europe [3] Group 2: Global Strategy and Operations - The company has strengthened its core competitiveness by integrating research and operations, with overseas revenue accounting for over 40% of total income [3] - Qingci Games has established offices in regions such as mainland China, Australia, Japan, and South Korea to enhance user engagement and solidify player communities [3] Group 3: Future Developments - The company is currently developing an original game titled "Project E," which combines elements of map exploration, backpack management, and resource collection, aiming to set new industry trends [4] - Qingci Games is embracing technological advancements by integrating AI tools to improve operational efficiency and support industrial development [4] - The CEO expressed gratitude for the support from global players and emphasized the commitment to delivering engaging and culturally rich gaming experiences in the future [4]