Core Insights - The year 2024 was marked by a significant release of successful new games in the domestic gaming market, while 2025 is characterized by a lack of notable new products [1] - Despite the scarcity of new releases, the domestic gaming industry continues to grow, with a reported 14% year-on-year revenue increase in the first half of the year, followed by a recovery of 7.8% growth in October [2] - The growth in the gaming market is primarily driven by established "evergreen" games, as many new products have failed to meet expectations [2][3] Industry Trends - The gaming market is experiencing a concentration of resources towards leading companies, with Tencent and NetEase performing well, while many smaller companies struggle [4] - The success of long-standing games like "Dream of the Red Chamber" and "World of Warcraft" demonstrates that a small number of titles can maintain longevity and profitability, contrasting with the short lifecycle of most mobile games [3] - The failure of single-player games like "Ming Dynasty" highlights the challenges in the single-player market, with few companies willing to invest heavily in AAA titles [5][6] Development Strategies - The industry is shifting towards a focus on cost-effective game development, as exemplified by the success of "Expedition No. 33," which achieved high sales with a low budget [7][8] - Future game development is expected to prioritize smaller, manageable projects rather than large-scale productions, reflecting a broader trend towards "value for money" in game design [8]

Group 1 - BW 2025 attracted 167 global exhibitors and over 300,000 cosplayers, with a total attendance of 400,000, marking a 15% increase from 2024 [1] - The event showcased international participation, with fans from countries like Russia, Brazil, Saudi Arabia, and Egypt, in addition to Japan and South Korea [1] - The event trended on Japanese Twitter, ranking 6th, highlighting its global appeal and scale [1] Group 2 - Non-ACGN exhibitors such as the Macao Tourism Board and Huawei participated, breaking the dimensional barrier and fostering offline interactions between "three-dimensional" brands and "two-dimensional" audiences [2] - The event significantly boosted local industries, with a 31% sales increase at 百联ZX and a 50% rise in national flight bookings to Shanghai during the event [3] - BW 2025 demonstrated the growing influence of Chinese Generation Z in content creation and cultural output, showcasing their creativity and inclusivity to the world [3]