《绝区零》"澄辉坪"街道张灯结彩 《闪耀暖暖》"煌煌照重渊"套装 《崩坏：星穹铁 道》新角色"爻光"（中） 春节前，米哈游《崩坏：星穹铁道》推出国风新角色"爻光"，其服饰设计萃取苗族银饰精髓，将经典纹 样与将军形象相融；"爻光"的战斗动作则从孔雀舞中取材，一招一式间尽显传统舞蹈的灵动神韵。玩 家"星轨旅人"直言："解锁'爻光'的那一刻，我感受到传统文化的鲜活魅力，游戏过程都成了视觉享 受。"这并非该游戏首次探索国风表达，此前仙舟"罗浮"的徽派建筑、配乐中的侗族大歌等，都让玩家 领略到传统文化与科幻美学结合的独特韵味。 上海叠纸游戏旗下《闪耀暖暖》则将目光投向千年文物，新版本上线的"煌煌照重渊"套装，以三星堆青 铜神树为灵感，设计团队不仅对文物进行深入考据，更邀请三星堆3号祭祀坑发掘负责人担任学术顾 问，从文物原型、文化象征中提炼设计元素，用3D技术将青铜神树的神秘与恢宏凝于华服之上。玩 家"暖暖小裁缝"表示："给暖暖穿上这套华服，就让我想去了解青铜神树的故事，游戏成了我走近历史 的窗口。"作为一款上线7年依旧生命力旺盛的产品，《闪耀暖暖》始终将文化瑰宝当成创作的灵感源 泉。该游戏曾与国家京剧院联动，历时8个月 ...

Core Viewpoint - MiHoYo terminated its cooperation with Shanghai Huiye Law Firm due to a conflict of interest involving a lawyer who assisted a competing company, Envision Energy, in a lawsuit against MiHoYo [1][7][15]. Group 1: Incident Background - The conflict originated in June 2025 when Envision Energy filed a lawsuit against MiHoYo, claiming that a fictional antagonist in MiHoYo's game "Honkai: Star Rail" resembled their brand, causing reputational damage [4][6]. - MiHoYo counter-sued Envision Energy in December 2025 for commercial defamation [6]. - By February 2026, Envision Energy withdrew its lawsuit, which was approved by the court [7]. Group 2: Legal and Ethical Implications - The lawyer from Huiye Law Firm, who was MiHoYo's long-term legal advisor, was found to have collected evidence for Envision Energy despite knowing the conflict of interest, violating legal regulations [7][14]. - The Shanghai Judicial Bureau warned the lawyer for privately accepting a commission, which is prohibited under the Lawyer Law [7][14]. - Huiye Law Firm acknowledged the incident highlighted deficiencies in their dynamic conflict of interest monitoring system and pledged to improve compliance standards [15]. Group 3: Industry Context - The incident reflects the challenges within large law firms where lawyers operate with significant autonomy, often leading to potential conflicts of interest [11][13]. - The legal services market in China is characterized by a commission-based distribution model, which can complicate conflict management [11][13]. - MiHoYo's proactive stance in protecting its intellectual property rights indicates a broader trend in the gaming industry to safeguard intangible assets [15].

每经编辑｜许绍航 2025年6月，因游戏中的"反派公司"与自己同名，远景能源选择与米哈游对簿公堂，2026年2月10日，这场持续多时的官司终于以远景能源主动撤诉、法院 裁定准许告终。 然而，就在官司结束的同日，曾为米哈游提供法律服务的上海市汇业律师事务所，却因严重利益冲突问题被米哈游终止全部合作、永久列入黑名单。 2月10日，米哈游发布公告，远景能源有限公司已向江阴市人民法院申请撤回前述其与米哈游之间网络侵权责任纠纷案件的起诉，江阴市人民法院已裁定 准许其撤诉。 值得注意的是，在公告中，米哈游同时提到，汇业律所为米哈游提供法律服务期间，汇业律所管委会委员、高级合伙人周开畅律师在明知代理远景公司诉 讼案件涉及利益冲突的情况下，仍私自实施超出与远景公司法律顾问合同服务范围的、指派实习律师吴某继续帮助远景公司收集、固定诉讼证据并提供给 远景公司的行为，涉嫌违反律师法的相关规定。 介于此，公司决定终止与上海市汇业律师事务所的一切合作关系，停止委托其处理任何与米哈游相关的法律事务，同时，将上海市汇业律师事务所永久列 入公司合作方黑名单，永不合作。 此外，针对周开畅的行为，米哈游已向上海市徐汇区司法局提出投诉。经徐汇区司 ...

米哈游称，在汇业律所为米哈游提供法律服务期间，汇业律所管委会委员、高级合伙人周开畅律师在明知代理远 景公司诉讼案件涉及利益冲突的情况下，仍私自实施超出与远景公司法律顾问合同服务范围的、指派实习律师吴 某继续帮助远景公司收集、固定诉讼证据并提供给远景公司的行为，涉嫌违反律师法的相关规定。 米哈游表示，鉴于上述侵害公司权益的情况，米哈游决定终止与上海市汇业律师事务所的一切合作关系，停止委 托其处理任何与米哈游相关的法律事务，同时，将上海市汇业律师事务所永久列入公司合作方黑名单，永不合 作。 昨天（2月10日），米哈游发布公告，此前，米哈游聘任上海市汇业律师事务所（以下简称"汇业律所"）为公司常 年法律顾问，由其为米哈游提供诉讼法律服务。 专家说法： 缘何被"解聘"？ 官方资料显示，汇业律师事务所创立于1999年，经过二十六年的发展，汇业聚焦商事法律服务等多重领域，已成 为中国领先的综合性律师事务所之一，现有执业律师和专业人员两千余名。 汇业的核心业务涵盖公司法、并购重组、外商投资、知识产权、反垄断、劳动与人力资源、金融证券、破产清算 及争议解决等领域，并在互联网科技、娱乐、能源与环保、医疗与健康等领域积累了丰富经 ...

2月10日，米哈游发布公告，此前，米哈游聘任上海市汇业律师事务所(以下简称"汇业律所")为公司常 年法律顾问，由其为米哈游提供诉讼法律服务。 米哈游称，在汇业律所为米哈游提供法律服务期间，汇业律所管委会委员、高级合伙人周开畅律师在明 知代理远景公司诉讼案件涉及利益冲突的情况下，仍私自实施超出与远景公司法律顾问合同服务范围 的、指派实习律师吴某继续帮助远景公司收集、固定诉讼证据并提供给远景公司的行为，涉嫌违反律师 法的相关规定。 米哈游表示，鉴于上述侵害公司权益的情况，米哈游决定终止与上海市汇业律师事务所的一切合作关 系，停止委托其处理任何与米哈游相关的法律事务，同时，将上海市汇业律师事务所永久列入公司合作 方黑名单，永不合作。 专家说法：缘何被"解聘"？ 官方资料显示，汇业律师事务所创立于1999年，经过二十六年的发展，汇业聚焦商事法律服务等多重领 域，已成为中国领先的综合性律师事务所之一，现有执业律师和专业人员两千余名。 汇业的核心业务涵盖公司法、并购重组、外商投资、知识产权、反垄断、劳动与人力资源、金融证券、 破产清算及争议解决等领域，并在互联网科技、娱乐、能源与环保、医疗与健康等领域积累了丰富经 验，长 ...

今年已经有22家游戏公司把黄金当成年终奖励。游戏公司发黄 金背后，是行业整体回暖。 作者：任晓宁 封图：图虫创意 1月30日，等着看年会线上演出的沐瞳科技员工小决（化名）开场便收到惊喜。公司CEO宣布， 给每位员工发一条5克黄金手链作为全员奖。按照当天1685元/克的首饰金价格，这条手链价值 8425元。 不止是沐瞳科技，据经济观察报不完全统计，今年已经有22家游戏公司把黄金当成年终奖励。 游戏公司发黄金背后，是行业整体回暖。2025年中国游戏市场收入3507.89亿元,同比增长 7.68%;用户规模6.83亿，同比增长1.35%，两项数据均创历史新高。多家游戏上市公司在2025 年度业绩预告中宣布扭亏为盈。 要发就发硬通货 一家上海游戏公司的HR告诉记者，年会发黄金是老板的决定。之前他们年会以数码产品为主，比 如显卡、电脑、手机三件套，或是游戏机、无人机、耳机等，从未发过黄金。 黄金在2025年受到游戏公司青睐，与金价暴涨走势有关。2025年黄金价格屡次刷新历史纪录，成 为全民疯抢的理财产品。在这种环境下发黄金，能给员工提供一种额外的情绪价值。 小决说，公司年会发的黄金手链是与周大福定制的，不仅保值，日常也 ...

Core Insights - The gaming industry in China is experiencing a recovery, with projected revenue of 350.79 billion yuan in 2025, marking a year-on-year growth of 7.68% and a user base of 683 million, an increase of 1.35% [2][8] - 22 gaming companies have adopted gold as a year-end reward for employees, reflecting the industry's positive outlook and the rising gold prices [2][3] Group 1: Employee Rewards - Companies are giving gold as year-end rewards, with examples including a 5-gram gold bracelet valued at 8,425 yuan given to employees of Mu Tong Technology [2] - The distribution of gold rewards varies: some companies provide gold to all employees, while others include it in a lottery or award it to employees with special contributions [4][5] - The trend of giving gold is linked to its rising value and serves as a morale booster for employees [3][6] Group 2: Company Performance - Several gaming companies are reporting significant financial improvements, with many expected to turn losses into profits in 2025 [2][8] - Companies like Century Huatong and Gigabit are forecasting substantial profit increases, with Century Huatong's net profit expected to rise by 357.5% to 475.3% [8] - MiHoYo's flagship game "Genshin Impact" is projected to generate over 40 billion yuan in global revenue in 2025, highlighting the success of its products [7][8] Group 3: Market Trends - The popularity of gold as a reward is influenced by its status as a sought-after investment, with gold prices reaching historical highs in 2025 [3] - Companies that are less well-known, but have profitable products, are using gold rewards to enhance their employer brand and attract talent [6] - The gaming industry is seeing a resurgence, with many companies capitalizing on successful products and expanding their market presence [8]

Core Viewpoint - The 2026 Taipei International Game Show showcased a significant interest in mainland Chinese games among Taiwanese players, highlighting the cultural resonance and innovative gameplay of these titles [1][2][3]. Group 1: Event Overview - The Taipei International Game Show took place from January 29 to February 1, featuring 399 exhibitors and over 500 games [1]. - Popular mainland games such as "Ming Chao," "Tomorrow's Ark: End of the World," "Absolute Zero," and "Escape from Duckkov" attracted large crowds, with "Ming Chao" being particularly favored by Taiwanese players [1][2]. Group 2: Player Engagement - The "Ming Chao" booth estimated over 2,500 visitors in a single day, indicating high enthusiasm among Taiwanese players [1]. - A 25-year-old player expressed excitement about returning to the event after years, specifically for games like "Ming Chao" and "Absolute Zero," citing appealing character designs and engaging storylines [1]. Group 3: Cultural Impact - Mainland games are increasingly popular in Taiwan due to their incorporation of traditional Chinese cultural elements, such as historical themes and martial arts, which resonate with local players [2][3]. - The rise of mainland games has sparked discussions in Taiwanese gaming forums, with players engaging in historical analyses related to game narratives, showcasing the educational aspect of these games [3]. Group 4: Industry Recognition - A recent editorial in Taiwanese media highlighted the ascent of the mainland gaming industry, attributing its success to high-quality content and cultural significance, which effectively showcases the charm of Chinese culture to a global audience [3].

Core Insights - The mobile gaming market in China is projected to see a 16% increase in overseas revenue in 2025 compared to 2024, with 30 games making the top list, including six new entries [1][28] - The 4X strategy genre remains the leading category for overseas revenue, accounting for over 30% of the top games [1][28] Group 1: Company Performance - Point Interactive leads in revenue with its game "Whiteout Survival," which is the only title exceeding $1 billion in overseas revenue, contributing over $4 billion globally by December 2025 [3] - Lemon Microfun has two titles in the top 30, with "Gossip Harbor" achieving a revenue increase of approximately 100% year-on-year, reaching over $70 million by December 2025 [5][12] - Mihayou has the most games in the top 30, with "Honkai: Star Rail," "Genshin Impact," and "Zero Zone" ranking 5th, 8th, and 18th respectively, primarily generating revenue from Japan, the US, and South Korea [12][28] Group 2: Game Highlights - "Kingshot" by Point Interactive, a 4X strategy game, has shown consistent monthly revenue growth since its launch in February 2025, ranking 3rd in the revenue list [3] - Florere Game's "Last Z: Survival Shooter" and "Dark War: Survival" both made their debut in the top 10, with the former achieving a revenue increase of over 15 times from early 2025 to December [14][15] - "Love and Deep Space" by Paper Games has seen a 70% increase in overseas revenue, ranking 15th in the top 30, with a total revenue exceeding $369 million [21][28] Group 3: Growth Trends - The growth leaderboard is dominated by mid-core games, with 11 4X strategy titles included, and 8 new games making the list [2] - Point Interactive's "Tasty Travels: Merge Game" saw a revenue increase from approximately $650,000 in January to $11 million by December, marking a nearly 17-fold growth [5] - "Merge Cooking" by Happibits entered the revenue list at 28th and the growth list at 13th, with a monthly growth rate of about 20% in Q1 2025 [10]

Core Viewpoint - MiHoYo has established itself as a unique player in the domestic gaming industry, successfully competing with industry giants without relying on mergers and acquisitions, instead focusing on core products like "Genshin Impact" and "Honkai" series, while building a vast investment network across various sectors including AI, aerospace, and energy [1][6]. Investment Landscape - In early 2026, MiHoYo's investment strategy became more visible with the IPO applications of three companies: Suplay, MiniMax, and Soulgate, showcasing its diverse investment portfolio [2][3]. - MiHoYo holds significant stakes in these companies, being the largest external shareholder in Suplay (11.86%), an angel investor in MiniMax (approximately 6.4%), and a key institutional shareholder in Soulgate (5.47%) [3]. Strategic Focus - The investments in AI, trendy toys, and social platforms align with MiHoYo's vision of constructing a "virtual world," addressing three core aspects: technological foundation, IP monetization, and user entry points [8][9]. - MiniMax's technology is integrated into MiHoYo's games, enhancing content production efficiency and user interaction, with MiniMax's revenue reaching 380 million RMB in the first three quarters of 2025, a 174.7% year-on-year increase [13][14]. Monetization and User Engagement - Suplay has transformed its business model through MiHoYo's investment, significantly increasing its revenue from MiHoYo's IPs, which contributed over 60% of its earnings as of September 2025 [15][17]. - Soul, targeting Gen Z users, has become a crucial platform for virtual social interaction, with 390 million registered users and a daily active user rate of 1.1 million, 78.7% of whom are Gen Z [18][19]. Investment Strategy Evolution - MiHoYo's investment strategy shifted significantly in 2021, expanding beyond gaming content to include hard tech sectors like brain-computer interfaces and nuclear fusion, driven by strong cash flow from "Genshin Impact" [24][25]. - The company’s decision to avoid external investments allows it to focus on long-term strategic goals without pressure for short-term returns, with founders holding over 85% of the shares [26]. Long-term Vision - MiHoYo aims to create a virtual world that integrates social, consumer, work, and entertainment aspects, necessitating investments in diverse technologies like AI and energy [28][29]. - The company's investments are strategically aligned to build a technological foundation for this virtual world, indicating a comprehensive approach to future growth [30]. Conclusion - MiHoYo's investment strategy reflects a broader trend in the cultural technology industry, emphasizing the importance of integrating content, technology, and consumer engagement to maintain competitive advantage [32][33].