或许是所处的角度不同，渠道和发行方认为0.1折服、福利服、BT服等长尾市场，还有很大的市场红利有待挖掘。据游戏从业者大D分析，当前相关市场 规模应该在200亿左右，分成比例在2:8（平台8）左右。 游戏从业者大K则表示："近200亿的市场规模是什么概念，十分之一的移动市场规模，小游戏也才刚破500亿。这个市场应该没有这么夸张，可能是有人 想当救世主，有点包装了。"甚至在他看来，它们有可能会反噬常规市场的正常逻辑。 除开立场差异导致的不同评估，针对不同区域的研发商，大家对于上架长尾渠道态度也有所不同：广深地区厂商有着成熟的买量产品体系，对做0.1折服 有更高的包容度；上海厂商强调品牌调性，很爱惜自己的羽毛，会有"矛盾感"；北京、成都等地区的厂商也相对保守。"就我们公司当前合作的项目，有 近7成来自广深地区。"游戏从业者大L透露道。 游戏行业的收尸队到底是救世主还是轮到给自己收尸了？对于这个问题我最近有了新认识。 去年11月，受朋友邀请，我接触到一款0.1折产品《时空猎人3》。彼时有感而发，写下《0.1折服，让死掉的游戏月入千万》，尝试对这一模式做出初步判 断。事后回看，这篇文章更多停留在现象层面，缺少来自厂商内 ...

转自：贵州日报 本报讯 1月2日，"书香舞忆"作家圈层签售会在多彩贵州城鼓楼广场举行，当红插画家"苍狼野兽"、人 气Coser（角色扮演者）"佛心观莲"与"月黑"等嘉宾空降现场，以签售、Cosplay（角色扮演）互动、舞 台表演等形式，为绘画粉、国风及二次元爱好者打造了一场沉浸式IP狂欢。 活动当日，多彩贵州城同步推出了鼓楼广场"千人和鸣·侗族大歌"收官演出、1958文创园艺术主理人沙 龙及音乐派对、鼓楼夜间光影秀等多元活动，让不同需求的游客都能从中找到乐趣。 （贵阳日报融媒体记者 吴宇） 拥有超159万粉丝的插画家"苍狼野兽"曾为《秦时明月》《画江湖之不良人》等影视IP、《天王》《寒 武再临》等畅销小说及《男生女生》《少年绘》等经典杂志创作封面及插画作品。活动现场粉丝们热情 高涨，与其近距离交流、获得专属签名。此外，人气Coser"佛心观莲"与"月黑"身着《情蛊》主题服饰 现场还原角色，与粉丝互动集邮、签售。活动期间，还有宅舞表演及书粉主题舞台游戏互动等内容，吸 引众多游客与亚文化爱好者的目光。 （《"书香舞忆"作家圈层签售会 在多彩贵州城举行》由贵阳日报为您提供，转载请注明来源，未经书 面授权许可，不得转 ...

Core Viewpoint - The article discusses the evolution and challenges of animation IPs, emphasizing the importance of understanding the essence of animation IPs for long-term success and emotional connection with audiences [7][8][16]. Group 1: Animation IP Characteristics - A truly vibrant animation IP possesses three key traits: the ability to transcend cultural barriers, explore timeless themes of humanity and growth, and maintain continuous innovation potential [8]. - Animation's unique creative attributes allow for stronger controllability, continuity, and symbolic potential compared to live-action films, facilitating its transition from "cultural products" to "cultural assets" [9]. Group 2: Challenges in Animation IP Development - Many animation IPs face challenges due to entrenched product thinking, leading to repetitive creative patterns after initial market success [10]. - Self-imposed limitations in audience targeting, such as focusing solely on "child-friendly" or "adult-oriented" content, restrict the growth and potential of IPs [10]. - Short-sighted behaviors, such as blind licensing and low-quality derivatives, undermine the emotional value and trust associated with IPs, particularly in the context of rapid monetization strategies [10]. Group 3: Strategies for Sustainable IP Development - The concept of "all-age" IPs is proposed as a solution to maintain and expand the life force of animation IPs, allowing them to resonate with both original and new generations of viewers [11][12]. - Key strategies for achieving all-age appeal include layered storytelling, open story structures, and systematic operations to create lasting emotional connections across generations [12][14]. - Vertical deepening is another viable model for long-term development, focusing on serving specific age groups or interest circles with profound and evolving content [15]. Group 4: The Shift in Animation Industry Mindset - Successful animation IPs have transitioned from a short-term focus on product thinking to nurturing long-term value through a "living entity" mindset, which respects the natural growth and creative evolution of IPs [16]. - This mindset emphasizes long-termism over immediate gains, emotional connections over mere traffic monetization, and value accumulation over fleeting popularity [16].

今年的电影市场屡次证明了二次元用户的消费力。 从年初《哪吒之魔童闹海》（154.46亿）到暑期档的《浪浪山小妖怪》（17.19亿）和《罗小黑战绩2》（5.33亿），再到近期在映的《鬼灭之 刃：无限城篇第一章猗窝座再袭》（6.37亿）和《疯狂动物城2》（22.22亿），这些作品不仅展现了二次元核心用户的消费力，也揭示出泛二 次元人群蕴含的巨大市场潜力。 番剧领域同样如此。各平台布局二次元内容多年，而今年最炙手可热的漫剧赛道，以"动态漫画+轻量化叙事"贴合二次元用户碎片化观看习惯，部分作品 更凭借粉丝二创反哺，播放量突破10亿，成为平台新的流量增长点。 从电影票房的爆发到平台内容的倾斜，从漫剧的崛起到二创生态的繁荣，这一系列现象并非偶然。这背后，是二次元观众从"被动接受"到"主动发声"的身 份转变，更是他们逐步掌握话语权的直观体现。 二次元到泛二次元 二次元原指动画、漫画等平面二维世界，核心聚焦ACG及衍生内容，受众为深度认同圈层文化、强社群归属感的核心粉丝，通过同人创作、漫展等互动 形成高凝聚力封闭社群。 随着代际更替中Z世代成为消费主力，二次元文化逐渐扩容与延伸，打破ACG边界，进化成"泛二次元"。这一概念将 ...

Core Viewpoint - The company has launched its RO game products in the North American market for the first time, which has led to a significant increase in marketing and promotion expenses, impacting current financial performance [1] Group 1 - The company is actively preparing for the launch of RO game products in the Middle East and Europe [1] - The company has initiated the development of new mini-games, such as "Qin's Moon," to drive future performance growth [1]

Core Viewpoint - The company is experiencing losses despite the popularity of its mobile games in Europe and the United States, primarily due to high marketing and promotion costs associated with launching new games in overseas markets [1] Group 1: Financial Performance - The company has recently launched its RO game products in North America, marking its first self-published and operated game in an overseas market [1] - The significant increase in marketing and promotion expenses has adversely affected the company's current financial performance [1] Group 2: Future Strategies - The company is actively preparing to launch RO game products in the Middle East and Europe [1] - New game projects, such as the mini-game "Qin's Moon," have been initiated to drive future revenue growth [1]

Core Viewpoint - The company is experiencing losses despite the popularity of its mobile games in Europe and the United States, primarily due to increased costs associated with launching and promoting new games in overseas markets [1]. Group 1: Financial Performance - The company reported significant increases in marketing and promotion expenses for its newly launched RO game in North America, which has impacted its current financial results [1]. - The company is actively preparing for the launch of the RO game in the Middle East and Europe, indicating a strategic focus on expanding its market presence [1]. Group 2: Future Strategies - The company has initiated the development of new games, such as "Qin's Moon," to drive future revenue growth and improve overall performance [1].

Core Insights - The article discusses the recent developments in the animation and IP industry, highlighting the growth and investment opportunities for companies like Xuanji Technology, Pinkfong, and Overlap [1][3][19]. Group 1: Xuanji Technology - Xuanji Technology reported a revenue of approximately 213 million RMB in the first half of 2025, marking a significant year-on-year increase of 68.9% [3]. - The company's net profit reached about 63.35 million RMB, showing a remarkable growth of 836.88% compared to the previous year [3]. - The growth is primarily driven by its core business segments, including digital content production, creation and licensing, and derivative product sales, with the latter experiencing a 132.2% increase in revenue [3][5]. Group 2: Pinkfong - Pinkfong, a South Korean children's content company, reported a revenue of approximately 239 million RMB in the first half of 2025, with a consolidated revenue of 97.368 billion KRW for 2024, reflecting an 11% year-on-year growth [10][12]. - The company's operating profit surged by 371% to 18.8 billion KRW in 2024, indicating strong financial performance [10]. - Pinkfong's revenue composition shows that content products, including videos and apps, are the main revenue drivers, accounting for 67.6% of its revenue in the first half of 2025 [17]. Group 3: Overlap - Overlap, which specializes in light novels and manga, received nearly 920 million JPY in investments from Pokémon and Shogakukan, increasing their shareholding by 9.13% [19][21]. - The company reported a total sales figure of 8.403 billion JPY for the fiscal year ending August 2024, with a year-on-year growth of 8% and an operating profit of 2.151 billion JPY, up 38% [24][25]. - Overlap's revenue is primarily derived from its own IP, which accounted for 88% of its total revenue in the 2024 fiscal year, while Pokémon-related products contribute a smaller portion [24].

Core Viewpoint - The article discusses the recent IPO counseling registrations of seven companies in China, highlighting their business models, financial performance, and investment backgrounds. Group 1: 华澜微 (HuaLan Micro) - 华澜微 has no controlling shareholder or actual controller and has not achieved profitability since its establishment [5][6] - The company has undergone 14 rounds of financing, with notable early investors including 深创投 and TCL创投 [5] - 华澜微's revenue from 2019 to 2023 shows a growth trend, with figures of 2.91 billion, 4.35 billion, 5.95 billion, 6.04 billion, and 2.29 billion respectively, while net losses have been recorded [6] - The company was placed on the U.S. Entity List in July 2021, which has affected its operations and led to a strategic shift towards domestic business [7] Group 2: 恒翼能 (Hengyi Energy) - 恒翼能 focuses on intelligent manufacturing equipment for lithium batteries and has become a leading supplier globally [9] - The company has a registered capital of approximately 1.26 billion and has over 2,000 employees across multiple countries [9] - In 2023, 恒翼能 completed a D-round financing led by Morgan Stanley Private Equity Fund [10] Group 3: 玄机科技 (Xuanji Technology) - 玄机科技 is a well-known digital content production company with a registered capital of approximately 515.79 million, focusing on animation IPs [12] - The company has significant backing from Tencent, which holds about 20.5% of its shares [12][14] - Revenue projections for 2023 and 2024 are 262 million and 317 million respectively, with net profits of 40.92 million and 68.2 million [14] Group 4: 先临三维 (Xianlin 3D) - 先临三维 specializes in high-precision 3D scanning technology and has a registered capital of approximately 404 million [16] - The company reported a revenue of 1.202 billion in 2024, with a net profit of 226 million, reflecting a growth of 18.07% and 59.08% respectively [17] - The company's gross margin stands at 69.1% [15] Group 5: 森峰激光 (Senfeng Laser) - 森峰激光 focuses on laser processing equipment and has a registered capital of 57 million [19] - The company has experienced rapid revenue growth, achieving 992 million, 1.332 billion, and 1.288 billion from 2022 to 2024 [20] - The company withdrew its application for the ChiNext listing in December 2024 due to strategic considerations [19] Group 6: 莫森泰克 (Mosen Tech) - 莫森泰克 specializes in automotive components and has a registered capital of approximately 106 million [22] - The company reported a revenue of 1.956 billion in 2024, with a net profit of 264 million, marking a year-on-year growth of 24.42% and 37.32% respectively [23] Group 7: 鹰峰电子 (Eagle Peak Electronics) - 鹰峰电子 focuses on passive electronic components and has a registered capital of approximately 104.93 million [25] - The company has seen fluctuating revenues, with figures of 1.482 billion, 1.396 billion, and 1.841 billion from 2022 to 2025 [27] - The global passive components market is projected to grow from 32.77 billion in 2021 to 42.82 billion by 2027, with a CAGR of 4.56% [26]

Group 1: Company IPOs - Seven companies, including Hualan Microelectronics, Hengying Energy, and Xuanji Technology, have initiated IPO counseling filings with the China Securities Regulatory Commission (CSRC) from September 8 to 14 [1] - Hualan Microelectronics has not achieved profitability and has a dispersed shareholding structure with no controlling shareholder [3][4] - Hengying Energy, focused on intelligent manufacturing equipment for lithium batteries, has completed a D-round financing led by Morgan Stanley Private Equity Fund [6][7] - Xuanji Technology, known for its digital content production, has Tencent as its second-largest shareholder and aims to list on the Beijing Stock Exchange [9][11] - Xianlin Sanwei, specializing in high-precision 3D scanning technology, has a gross margin of 69.1% and is seeking to go public [12][15] - Senfeng Laser, which focuses on laser processing equipment, previously attempted to list on the ChiNext but withdrew its application [17][18] - Mosentech, a manufacturer of automotive components, reported a revenue increase of 24.42% in 2024 and is preparing for an IPO [21] - Eagle Peak Electronics, which specializes in passive electronic components, is seeking to relist on the Beijing Stock Exchange after previously withdrawing from the ChiNext [23][24] Group 2: Financial Performance - Hualan Microelectronics reported revenues of 2.91 billion, 4.35 billion, 5.95 billion, 6.04 billion, and 2.29 billion from 2019 to the first half of 2023, with continuous revenue growth but persistent losses [3] - Xuanji Technology's projected revenues for 2023 and 2024 are 262 million and 317 million, respectively, with a net profit of 40.92 million in 2023 [11] - Senfeng Laser's revenues for 2022, 2023, and 2024 were 9.92 billion, 13.32 billion, and 12.88 billion, with a net profit of 1.03 billion, 1.1 billion, and 1 billion [18] - Mosentech achieved a revenue of 19.56 billion in 2024, with a net profit of 2.64 billion [21] - Eagle Peak Electronics reported revenues of 14.82 billion, 13.96 billion, and 18.41 billion from 2022 to 2025, with fluctuating profits [24]