Core Insights - The new cultural brand "ShanHun" has completed its first round of financing amounting to several hundred million RMB, led by Hillhouse Capital with participation from Gao Rong Capital and Cathay Capital [2] - ShanHun was founded in 2023 in Shanghai by Yao Shuo Bin and Sheng Chuan, focusing on an "IP story translator" model that integrates top IP acquisition, card design, channel distribution, and fan operation [3] Financing Purpose - The new funds will be used for a "threefold acceleration": establishing deeper and longer-term co-creation mechanisms with global top IPs, building localized teams and direct channels in North America, Europe, and Southeast Asia, and enhancing investments in digital printing, AI design platforms, and supply chain intelligence [4] Investment Rationale - Hillhouse Capital's partner Li Liang stated that ShanHun's team possesses both IP insight and industrial implementation capabilities, achieving exponential growth in the billion-level card game market, validating the new paradigm of "content as channel" [5] Industry Perspective - The recent financing reflects the rapid transformation of policy dividends into industrial momentum, as multiple government departments have introduced supportive policies for cultural creativity and digital globalization, highlighting the attractiveness of the "culture + technology" sector to patient capital [6]

Industry Developments - Chengdu government has introduced new policies to encourage the development of gaming and esports companies, indicating increasing local government support for the ACG industry [2][3] - The Chengdu government announced 15 policy measures aimed at enhancing game content creation, strengthening esports competitiveness, promoting industry integration, and improving development factors to elevate the gaming and esports industry [3] Company News - Yuewen Group announced a plan to acquire a 26.67% stake in Wuhan Yihua Kaitian Cultural Communication Co., Ltd. for 325 million yuan, increasing its ownership from 5.17% to approximately 31.48% [4] - After the acquisition, Tencent, the controlling shareholder of Yuewen, will hold a total of 61.82% of Yihua Kaitian, becoming the largest shareholder [4] - Xishanju's sci-fi mech battle game "Jiexianji" is set for global public testing on July 2, 2025, and will be available on PC, Steam, and Xbox Series X|S [5] - The highly anticipated domestic single-player game "Mingmo: Yuanshu Zhi Yu" has released a new trailer and is scheduled for official release on July 24 [6] Regulatory Updates - Following a U.S. ruling against Apple, the European Commission has mandated that Apple must open third-party payment options within 30 days in the EU market, with a potential fine of 500 million euros (approximately 4.096 billion yuan) for non-compliance [7] International Developments - Riot Games has announced its entry into the physical card game market with "Runeterra," based on the League of Legends IP, set to launch this year [8] - South Korean developer Shift Up has unveiled its flagship new game "Project Spirit," themed around "Eastern Fantasy," which is a cross-platform subculture project [9] - Niantic, the developer of "Pokémon GO," has confirmed the sale of its gaming business to Scopely for $3.5 billion, which includes titles like "Pokémon GO" and "Monster Hunter Now" [10]

Core Insights - The article discusses the launch of the new trading card game (TCG) "Runeterra" by Riot Games, leveraging the "League of Legends" IP to attract existing fans and create a unique gaming experience [1][2][3] Group 1: Game Overview - "Runeterra" is a TCG developed by Riot Games, designed to provide a new experience based on the "League of Legends" universe, supporting both 1v1 and multiplayer modes [1] - The game aims to differentiate itself from traditional TCGs by introducing unique mechanics and a focus on player experience [2][3] Group 2: Gameplay Mechanics - Players start with a legendary hero card that dictates their deck's strategy, with victory conditions based on scoring points rather than depleting health [4] - The game features a resource system where players gain runes each turn, allowing for strategic decisions between short-term advantages and long-term development [6] Group 3: Market Strategy - Riot Games aims to convert digital game players into physical card players, leveraging the large user base of the "League of Legends" IP in China [3] - The game will be distributed in China through a partnership with Shanhun, focusing on player experience and community engagement [7][9] Group 4: Event Planning - A robust event ecosystem is planned for "Runeterra," with regional tournaments and a national championship set to take place, enhancing community involvement [12][13] - The game will implement a seasonal card rotation mechanism to maintain freshness and competitiveness in the gameplay environment [14] Group 5: Conclusion - "Runeterra" represents Riot Games' exploration into the TCG market, with its unique gameplay mechanics and strategic distribution plans aimed at establishing a lasting presence in the competitive landscape [15]