Core Insights - The article provides an overview of the top 30 Chinese non-gaming and gaming companies in terms of overseas revenue for January 2026, highlighting trends and performance in the mobile application market [1][2][6]. Non-Gaming Companies - ByteDance and YY Group continue to lead the overseas revenue rankings, despite a slight decline in revenue [2][3]. - Ruqi Software returned to the third position, with its app "PictureThis" experiencing a revenue increase of over 52.2% due to successful holiday marketing campaigns [3][4]. - Companies like 合合信息 and iQIYI saw minor revenue growth, benefiting from holiday effects on their office tools and streaming applications [4]. - Daily Yoga's revenue increased by over 50.4% due to a successful New Year campaign focused on "Chair Yoga" [4][5]. - Several companies at the lower end of the ranking, such as Appxy and 大华科技, experienced slight revenue growth [5]. Gaming Companies - The gaming market showed increased activity in January, with top companies maintaining their positions, including 点点互动, Tencent, and 柠檬微趣 [6][8]. - 点点互动's game "Tasty Travels: Merge Game" achieved an estimated revenue of over $16 million, reinforcing its leading position [7][8]. - 悠星网络's games celebrated anniversaries, leading to significant revenue increases of 139.3% and 75.9% for its titles [8]. - 新游 "明日方舟：终末地" from 鹰角网络 made a strong return to the rankings, achieving notable revenue in its first weeks [8][9]. - 心动网络's new game "Heartopia" saw a revenue increase of over 147.9% due to effective marketing strategies [9].

Core Viewpoint - The article highlights how various Shanghai-based game developers are integrating traditional Chinese culture into their games to enhance the festive atmosphere during the upcoming Lunar New Year, creating immersive experiences for players. Group 1: Cultural Integration in Game Design - MiHoYo's "Honkai: Star Rail" introduced a new character "Yao Guang," whose design incorporates Miao silver jewelry and movements inspired by peacock dance, showcasing the vibrant charm of traditional culture [6] - Shanghai Deyou's "Shining Nikki" launched the "Brilliant Light of Heavy Abyss" outfit inspired by the Sanxingdui bronze tree, with academic consultation from the excavation team to ensure cultural accuracy [7] - The game has previously collaborated with various cultural institutions to create outfits and events that reflect traditional Chinese arts, such as Peking opera costumes and other intangible cultural heritage [7] Group 2: Incorporation of Traditional Customs - MiHoYo's "Zhuoqu Zero" features a "Gold Expansion Day" event where players receive online invitations and in-game currency as "lucky money," blending traditional customs into gameplay [8] - "Undecided Incident" focuses on a "Treasure Appraisal Mystery" event, using Kunqu opera music to enhance the historical storytelling experience for players [8] - Shanghai Eagle Horn Network's "Arknights" introduced a new gameplay feature with Chinese characters, allowing players to engage with the cultural significance of the New Year while enjoying the game [9] Group 3: Virtual and Real-world Integration - Shanghai-based game companies are collaborating with cultural institutions to create a seamless blend of virtual and real-world experiences during the Lunar New Year [10] - "Legendary New Hundred District" partnered with the Guandi Temple in Shanxi to offer players opportunities to win traditional cultural items, promoting awareness of cultural heritage among younger audiences [10] - The integration of traditional New Year customs into gameplay allows players to enjoy both gaming and cultural experiences, making the virtual world a new space for celebrating the festival [10]

我记得很清楚，事情好像就发生在今天一样。 大家坐在翁布罗萨我家别墅的餐室里，几扇窗户都嵌满了花园里那棵高大的圣栎树的繁茂枝条。时间正当中午，我们全家人按照老规矩在这个时候坐到餐 桌边。我记得有风从海上吹来，树叶抖动。 柯西莫说："我说过不要，我就是不要！"他推开那盘蜗牛，爬上那棵圣栎树，从此一辈子都没有下来。 电话那头的瑞明逐字逐句地给我念着这段文字，它来自卡尔维诺的著作《树上的男爵》，讲述了一个几乎在树上度过一生的人的故事——为了反抗某些东 西。瑞明说这本书给了他一些勇气，往年，他会被父母说服，老实遵循过年回家的"铁律"。他想不到什么不回去的理由，但今年他却找了个借口称公司临 时加班，成功留在了上海。 至于春节要做什么，他也没想好，"只是单纯地觉得有点太累了，想找个时间自己静静地待一阵"。他说自己今年买了不少游戏，但都没有时间玩，可能会 忘掉一切狠狠地玩上几天，也可能就在家里一直睡。 末了，他反悔似地问我这段能不能不写出来，被采访让他很兴奋，想点赞转发，但又怕父母看到难过。他最后还是说："算了，也没什么（好遮掩的）。" 百口莫辩的工作 这篇文章关于那些过年不想回家的游戏人，总的来说，每个人的处境都极其相似。 ...

Core Insights - In January, Sensor Tower reported significant growth in overseas mobile game revenues, with Lemon Microfun's flagship game "Gossip Harbor" achieving a 4% month-over-month increase, securing the top position in the overseas mobile game revenue chart [1] - Muto Technology's "Mobile Legends: Bang Bang" saw a remarkable 122% surge in overseas revenue, climbing nine positions to rank 8th in the revenue chart and claiming the top spot in the growth chart [1] Revenue Rankings - "Gossip Harbor" led the overseas mobile game revenue chart in January, with a 4% increase in revenue and a 136% rise in downloads, driven by new seasonal events [1] - "Mobile Legends: Bang Bang" reached nearly $2.4 billion in total global revenue after nearly ten years, reinforcing its position in the global mobile esports sector [1] - "Tasty Travels: Merge Game" from Dd Interactive achieved a 33% month-over-month revenue increase, entering the top ten of the global revenue chart for the first time [2] - "Arknights: Endfield," a new title from Eagle Horn Network, generated over $30 million in its first two weeks, debuting at 17th in the revenue chart [2] - "Dragon Traveler," an international version of a RPG from Zilong Games, ranked 26th in the revenue chart and 4th in the growth chart in its first month [2] Growth Rankings - "Heartopia," a life simulation game from Xindong Network, quickly topped the iOS download charts in multiple countries and ranked 5th in the global simulation game revenue chart [3] - "Genshin Impact" from miHoYo saw a significant revenue spike of 867% in Japan on January 14, following a major update, ranking 3rd in the growth chart [3] - "Arknights" experienced an 81% increase in overseas revenue, returning to the revenue chart at 24th and ranking 7th in the growth chart [3] - "Cell Survivor" continued its growth with a 50% increase in January, ranking 14th in the growth chart [4] - "Haunted Merge: Horror Story" from WhaleJoy Game saw a 285% increase in revenue, entering the growth chart at 17th [4] Download Rankings - "Block Blast!" from Hungry Studio maintained its position as the top downloaded overseas mobile game in January [5] - "Vita Mahjong" from Vita Studio saw a 31% increase in downloads, securing the second position in the download chart [5] - "Tile Explorer - Triple Match" from Oakever Game climbed to 3rd place with a 46% increase in downloads [5] - "Heartopia" debuted at 5th in the download chart and topped the download growth chart in its first month [5]

Core Insights - In January 2026, 36 Chinese companies made it to the global mobile game publisher revenue TOP 100, collectively generating $2.18 billion, accounting for 37.8% of the total revenue of the global TOP 100 mobile game publishers [1] - Tencent secured the top position in global mobile game publisher revenue, with a 43% month-on-month increase driven by flagship titles like "Honor of Kings" and "Peacekeeper Elite" [2][5] - Tencent's "Honor of Kings" and "Peacekeeper Elite" dominated the Chinese App Store revenue rankings, occupying the top four positions [1][5] Tencent's Performance - Tencent's "Honor of Kings" saw a 105% month-on-month revenue surge to $220 million following the launch of a new skin [2] - "Peacekeeper Elite" experienced a 156% revenue increase, surpassing $110 million, aided by new skins and a festive update [2] - Tencent's overall revenue in January reached a peak due to the strong performance of these two titles [2] Other Notable Performers - Point Interactive's mobile game "Tasty Travels: Merge Game" achieved a 33% revenue growth in January, driven by a new event [2] - "Mobile Legends: Bang Bang" experienced a 118% revenue increase, reclaiming the top spot in the Southeast Asian mobile game sales chart [3] - Yostar's "Blue Archive" and "Arknights" saw significant revenue increases of 220% and 122%, respectively, due to anniversary events [3] New Releases and Market Trends - Eagle Horn Network's new 3D real-time strategy RPG "Arknights: End of the World" topped multiple iOS download charts upon its global launch, significantly boosting publisher revenue [3] - Heartopia, the overseas version of "Heart Town" by Xindong Network, achieved a 516% revenue increase in January, topping iOS download charts in several markets [4] - The Chinese mobile game publisher revenue TOP 100 also included companies like BeHeFun Games and GameTree Entertainment, totaling 36 publishers [4]

Core Viewpoint - Eagle Horn Network's game "Arknights: End of the World" achieved over 30 million downloads globally within a day of its launch, but it struggles with mixed reviews despite its high quality and established IP [1][2][6]. Game Performance - The game was released on January 22, 2024, and reached the 5th position on the App Store in China on its launch day, climbing to 4th the next day, and ranking 12th by January 29 [2][6]. - The game is recognized for its high quality and optimization, being described as one of the best mobile open-world games in recent years [2][4]. Game Design and Features - "Arknights: End of the World" is a 3D real-time strategy RPG that combines elements of combat, exploration, and base-building, reflecting a single-player game design ethos [4][5]. - The game employs a traditional gacha model common in the genre, focusing on character collection and development, which may not align with its gameplay style [4][7]. Player Reception - Despite its quality, the game received a TapTap rating of only 4.5 as of January 29, indicating a disconnect between quality and player satisfaction [6]. - Players have expressed concerns over resource acquisition difficulties, slow-paced gameplay, and a lack of engaging content, which have contributed to a fragmented gaming experience [7][8]. Market Context - The overall performance of the mobile game market, particularly in the anime genre, is declining, with projected revenue drops of 7.44% and 3.64% in 2024 and 2025, respectively [9][10]. - The game is heavily reliant on its existing IP fanbase, which may limit its ability to attract new players outside its traditional audience [10]. Future Outlook - The game has the potential for improved revenue performance if it can maintain stability, increase player incentives, and replicate popular characters from the original IP [10].

Core Insights - Major anime and manga exhibitions in China, such as BW2026 and RED LAND, are strategically scheduled during peak holiday periods to maximize attendance and engagement [1][3][5] - The competition among these events is intensifying, with multiple exhibitions planned for the same dates, indicating a crowded market [5][11] - The target demographic for these events is predominantly young, with over 70% of attendees aged between 15 and 28, highlighting the importance of appealing to this age group [9][21] Event Scheduling - BW2026 is set for July 10-12, 2026, maintaining its traditional mid-July timing [1] - RED LAND will take place from October 2-6, 2026, coinciding with the National Day holiday, and features an extended duration compared to previous years [3] - Other events like萤火虫SP 2026 and CICF are also expected to be scheduled during the National Day holiday, further saturating the market [5] Market Dynamics - The number of anime and manga exhibitions is increasing, with at least 413 events planned during the 2025 Mid-Autumn and National Day holidays, indicating a growing interest in the genre [7] - The concentration of events during peak periods is driven by the need to capture the attention of the youth demographic, who are more likely to attend during school holidays [11] Challenges and Trends - The industry faces challenges related to content restrictions, particularly concerning Japanese IPs, which are being limited in favor of domestic ACG content [12][16] - Despite these challenges, there is a rich pool of domestic ACG IPs that can be leveraged for exhibitions, with many games gaining traction among attendees [16][20] - The trend of integrating gaming into anime exhibitions is growing, as these events provide a more targeted audience for game developers compared to traditional gaming expos [18] Audience Engagement - The rise of the "fan economy" is evident, with over 500 million users in China's broader anime and manga community, particularly among younger generations who are willing to spend on experiences that provide emotional value [21][22] - Large-scale exhibitions are becoming significant social events, fulfilling various needs such as identity recognition, emotional expression, and social interaction among fans [22]

Core Viewpoint - The launch of the game "Arknights: Endfield" by Eagle Dynamics faced a significant operational crisis due to a severe payment bug affecting overseas players, leading to unexpected charges and a trust crisis within the gaming community [1][2]. Group 1: Incident Overview - The game had a pre-launch reservation of 35 million players, indicating high expectations for its global market expansion [1]. - On the first day of launch, numerous overseas players reported unauthorized charges, with some claiming they were charged amounts significantly higher than intended, such as $1200 instead of $10 [2]. - The incident is described as a rare failure in the context of Chinese gaming companies expanding internationally [1]. Group 2: Company Response - Eagle Dynamics' overseas brand Gryphline responded by disabling all PayPal payment channels and initiating a refund process for affected transactions, promising to complete most refunds within four hours [4][8]. - However, the company's announcement lacked details on compensation plans, timelines for fixing the bug, and accountability measures, which appeared rushed and insincere [5]. Group 3: Technical Issues - The core issue of the payment bug was identified as a failure in the access control of the PayPal payment interface, leading to incorrect associations of payment credentials among different players [11]. - The incident has raised concerns about the security of player accounts and the overall reliability of the payment system [2][11]. Group 4: Additional Challenges - In addition to the payment bug, the game has faced issues with rampant cheating, with numerous hacks available on third-party platforms, undermining the game's integrity [12][14]. - Despite prior commitments from the company to combat cheating, the lack of effective measures has resulted in a negative impact on the gaming experience for legitimate players [12][14]. Group 5: Company Background and Reputation - Eagle Dynamics, founded in 2017, is known for its flagship IP "Arknights" and has been part of the "Shanghai F4" gaming companies, which includes MiHoYo and others [15]. - The CEO, Huang Yifeng, has emphasized originality and innovation, yet the company has faced multiple accusations of plagiarism, which has affected its reputation [15][16]. - The recent launch failure of "Arknights: Endfield" has been interpreted as a sign of underlying issues within the company's operational capabilities [17].

Core Viewpoint - The launch of the game "Arknights: Endfield" by Eagle Dynamics faced a significant operational crisis due to a severe payment bug, leading to unexpected charges for many overseas players, marking a rare failure in the Chinese gaming industry's global expansion efforts [2][3][18]. Group 1: Payment Bug Incident - The game had a pre-launch reservation of 35 million players, but on the first day of global release, a major payment bug caused numerous overseas players to be charged unexpectedly, with reports of charges as high as $1200 for a $10 subscription [2][19]. - The issue was confirmed by multiple overseas game influencers who live-streamed the problem, raising concerns about account security among players [3][19]. - Eagle Dynamics' overseas brand Gryphline responded by disabling all PayPal payment channels and initiating a refund process, claiming that most refunds would be completed within four hours, but the announcement lacked details on compensation and accountability [5][21]. Group 2: Technical Issues and Player Impact - The core issue of the payment bug was identified as a failure in the access control of the PayPal payment interface, which led to incorrect associations of payment credentials among different players [7][24]. - The incident caused significant player frustration, especially as it occurred at the end of the month, with some players reporting they could not pay their bills due to the unexpected charges, leading to the game being humorously referred to as one that could push players into financial distress [24]. Group 3: Cheating and Security Concerns - In addition to the payment bug, the game faced issues with rampant cheating, with numerous cheat products available on third-party platforms shortly after launch, indicating a lack of effective security measures [9][25]. - Despite prior commitments from Eagle Dynamics to combat cheating and ensure fair play, the actual enforcement appeared weak, negatively impacting the gaming experience for legitimate players [12][27]. Group 4: Company Background and Reputation - Eagle Dynamics, founded in 2017 and led by CEO Huang Yifeng, has been recognized for its commitment to originality and innovation, yet it has faced multiple plagiarism controversies over the past year, undermining its reputation [13][28]. - The company is part of the "Shanghai F4," a group of prominent gaming companies, and has been criticized for its failure to maintain high technical standards alongside its creative ambitions [29][31].

Core Insights - The Chinese cultural "new three" including online literature, online film and television, and online games have rapidly risen and gained popularity in overseas markets, with game exports becoming a new engine for China's service trade growth [1] - In the first half of 2025, the actual sales revenue of independently developed Chinese games in overseas markets reached $9.501 billion, a year-on-year increase of 11.07% [1] Group 1: Game Development and Technology - The first domestic 3A game "Black Myth: Wukong" showcases top-notch graphics and artistic expression, while "Yanyun Sixteen Sounds" utilizes nano-level detail rendering technology, achieving over 50 million views on overseas platforms [2] - Chinese game companies have developed a "premium R&D system" that enables them to produce high-quality mobile and cross-platform games, leveraging a deep understanding of the free-to-play model and refined operational capabilities [2][4] - The integration of AI-generated content (AIGC) is accelerating game exports, enhancing player experience through real-time NPC interactions and significantly improving production efficiency [3] Group 2: Cultural Integration and Global Appeal - The integration of traditional cultural IP with games is enhancing the global dissemination of Chinese culture, with games like "Black Myth: Wukong" and "Genshin Impact" incorporating cultural elements that resonate with international players [5][6] - The strategy of "core leading, shell universal" ensures that games maintain universally appealing core gameplay while integrating cultural elements as value-added content [6][7] Group 3: Policy Support and Market Strategy - The growth of Chinese games in overseas markets is supported by various government policies that provide institutional guarantees and promote systematic layouts for game exports [8] - Local governments, such as Guangdong and Beijing, are implementing policies to accelerate game exports and support the development of a collaborative ecosystem among game companies [8][9] Group 4: Future Growth Opportunities - Future growth in game exports will focus on refined operations in emerging markets, with an emphasis on deep customization based on local cultures and social habits [10] - The integration of AI technology is seen as a significant opportunity, with companies that embrace AI likely to gain a competitive edge [10] - Products that enable cross-platform data interoperability and create an ecosystem of "games + events + community" are identified as future growth points [10]