校对 薛京宁 新京报贝壳财经讯（记者韦英姿）10月22日，国家新闻出版署公布2025年10月份国产网络游戏审批信 息，《明日方舟》移动端等159款游戏版号获批。另外，国家新闻出版署还公布了一批进口网络游戏审 批信息，《小小梦魇》《潜水员戴夫》《鹅鸭杀》等游戏版号获批。 编辑 岳彩周 ...

Core Insights - The National Press and Publication Administration released the approval information for domestic online games in September 2025, granting a total of 156 licenses, including 145 domestic and 11 imported games [1] Group 1: Game Approvals - A total of 156 online games received approval, with significant contributions from major companies such as Tencent, NetEase, miHoYo, Lingxi Interactive, 37 Interactive Entertainment, and Kaiying Network [1] - Notable products that received approval include Tencent's "Return Ring," miHoYo's "Honkai: Inheritance Spirit," and NetEase's "Starry Friends Sunny Day" among others [1] Group 2: Changes in Approval Information - Nine games had changes in their approval information, including Game Science's "Black Myth: Wukong," which received an Xbox version license, and Shanghai Shulong Technology's "Legendary World: Unmatched," which added a client version [1] Group 3: Imported Games - The list of approved imported games includes notable titles such as Hazelight Studios' "It Takes Two," Nexon's "Dave the Diver," and Sony's "Astro Bot" [1]

Group 1 - The National Press and Publication Administration approved 145 domestic games in September 2025, with 42 of them categorized as casual puzzle games, accounting for 29% of the total approved games [1][2] - The list of approved imported games includes popular titles such as "Dual Shadow Realm," "Cosmic Robot," and "Diver Dave," with a stable monthly update frequency for imported games throughout the year [2] - The cumulative number of game licenses issued by the National Press and Publication Administration has reached 1,275, including both domestic and imported games [3] Group 2 - Notable domestic games approved this month include miHoYo's "Honkai: Fate Spirit," which allows players to explore a seaside town and collect various spirits to form unique teams [2] - Other approved games include "Return Ring" by Saros Network, "Basketball Girl: Leap to the Peak" by Lingxi Interactive, "Blood Dynasty: Basketball" by Giant Network, "Endless Night" by 37 Interactive, and "Starry Friend: Sunny Day" by NetEase Rayfire [2] - Saros Network, a subsidiary of Tencent, is behind the game "Return Ring," which is an open-world game that was first revealed in June this year [2]

Core Viewpoint - Tencent Holdings Ltd. is evaluating the possibility of acquiring a controlling stake in South Korean gaming company Nexon Co., having engaged in discussions with the family of the late founder Kim Jung-ju [1][12]. Group 1: Company Overview - Nexon, founded in 1994, is one of the earliest companies to commercialize online gaming in South Korea, with notable titles including "MapleStory," "Bubble Fighter," and "Dungeon & Fighter" [1]. - As of June 2024, NXC and its affiliate NXMH BV hold approximately 44.4% of Nexon, while the Kim Jung-ju family directly controls about 67.6% of NXC [1]. Group 2: Market Performance - Nexon went public on the Tokyo Stock Exchange in 2011, reaching a market capitalization of over $20 billion at one point. As of June 2025, its market cap is approximately $15 billion, reflecting a nearly 30% decline from its peak in 2021, although it has increased by over 10% since the beginning of this year [2]. Group 3: Strategic Importance - If the acquisition is successful, it would represent Tencent's most strategically significant move in the Asian gaming industry in recent years [5]. - Tencent has a long-standing cooperative history with Nexon, with "Dungeon & Fighter" being a significant revenue source for Tencent's gaming business. The successful performance of Nexon's single-player ARPG "Kazan," based on the DNF IP, further underscores the potential for business synergy [9]. Group 4: Historical Context - This is not Tencent's first interest in acquiring Nexon; in 2019, there were plans for a potential acquisition, but they fell through due to significant valuation disagreements [6]. - Following the death of Kim Jung-ju in 2022, his family transferred some NXC shares to the South Korean government to pay high inheritance taxes and sold some treasury shares in 2023. The government attempted to sell its NXC shares but could not find a buyer [8]. Group 5: Broader Investment Strategy - Since 2025, Tencent has been actively increasing its investments in overseas entertainment assets. In May of this year, Tencent Music Entertainment Group acquired nearly 10% of South Korean entertainment company SM Entertainment [10]. - The acceleration of Tencent's investments in South Korea aligns with the ongoing recovery and deepening of cultural exchanges between China and South Korea [10].