游戏媒体 Automaton 对此表示，虽然这句话听起来很官方，但 Krafton 其实是希望通过这项计划，给那些无法适应或不认同 AI 转型方向的员工一个体面的 退出途径。 据公告所述，所有员工都可以自主决定继续留任或是接受离职补偿，不论职级或资历，同时根据业内人士透露，离职补偿金额将根据员工的工龄计算，发放 金额在 6 个月到 36 个月薪资之间浮动。 值得注意的是，Krafton 在上月宣布全面转型"AI 优先"公司的同时还冻结招聘，以后只招原创 IP 及 AI 相关部门岗位，公司 CFO Bae Dong-geun 在财报会议 中表示："我们搞'AI 优先'的目的不是为了削减成本，而是要在全公司范围内提升个人生产力"。 IT之家 11 月 13 日消息，代表作有《绝地求生》、《inZOI 云族裔》的 Krafton 公司上月转型为一家"AI 优先"公司，如今更进一步，宣布推出自愿离职计 划，以减少人力岗位。 根据 Krafton 的说法，本次推出自愿离职计划的目的并非裁员，核心目的是帮助员工主动规划自身成长方向，在 AI 转型时代探索公司内外的新挑战，公司 将支持员工自主决定是继续在内部适应变革，或是 ...

Core Viewpoint - The recent controversy surrounding the income of streamer Lan Zhanfei has reignited discussions about the gaming live-streaming industry, reflecting both the opportunities and challenges faced by individuals in this rapidly evolving sector [2][10]. Group 1: Background of Lan Zhanfei - Lan Zhanfei, born in 1992 in Guangdong, transitioned from a game streamer to a travel blogger, gaining attention due to past statements about his earnings [3][4]. - His rise in the gaming live-streaming industry coincided with its peak from 2016 to 2018, a period marked by intense competition and significant financial opportunities [4][9]. Group 2: Career Development - Lan Zhanfei's career began with a low point, working various jobs before finding success in gaming live-streaming, particularly with "League of Legends" and later "PUBG" [6][8]. - He experienced rapid salary growth, moving from a monthly salary of 3,000 yuan to a contract worth millions, reflecting the industry's lucrative nature during its boom [7][9]. Group 3: Industry Dynamics - The gaming live-streaming industry saw explosive growth from 2011 to 2015, driven by technological advancements and the emergence of platforms like Douyu and Panda TV [9][10]. - The "thousand-broadcast war" period from 2016 to 2018 attracted 350 million users, leading to fierce competition and high salaries for top streamers [9][10]. Group 4: Current Status and Future Outlook - The gaming live-streaming industry's popularity has declined since 2019, with significant financial losses and a shift in user engagement towards platforms like Douyin and Kuaishou [10][11]. - Despite the industry's downturn, Lan Zhanfei has successfully transitioned to a travel blogger, maintaining a substantial following across multiple platforms, with over 30 million total followers [11].

Core Viewpoint - The article discusses the rise and fall of the gaming live-streaming industry through the story of the streamer Lan Zhanfei, highlighting the opportunities and challenges faced by individuals in this rapidly evolving sector [3][10]. Group 1: Background of Lan Zhanfei - Lan Zhanfei, born in 1992 in Guangdong, transitioned from a gaming streamer to a travel blogger, gaining attention due to past statements about his earnings [4][6]. - His success in the gaming live-streaming industry was attributed to a combination of luck and timing, particularly during the industry's peak from 2016 to 2018 [4][9]. Group 2: Career Development - Lan Zhanfei's career began with a low-paying job in gaming live-streaming, where he initially earned a monthly salary of 3,000 yuan, which later increased significantly as he transitioned to more popular games [6][8]. - He experienced a rapid salary increase from 1 million yuan to 10 million yuan annually after switching to "PlayerUnknown's Battlegrounds" [8][9]. Group 3: Industry Dynamics - The gaming live-streaming industry saw explosive growth from 2011 to 2018, with platforms like Douyu and Panda TV emerging during this period, leading to fierce competition and high salaries for top streamers [9][10]. - The industry's decline began in 2019, marked by the closure of Panda TV and a significant drop in total financing from approximately 70 billion yuan in 2018 to less than 20 billion yuan [10]. Group 4: Current Status and Future Outlook - As of 2023, Lan Zhanfei has transitioned to being a travel blogger, with a substantial following across multiple platforms, including 24.94 million followers on Douyin [11]. - Despite his success, the article notes that the path to financial freedom through gaming live-streaming is no longer easily replicable due to changes in the industry landscape and the emergence of new platforms [11].

Core Insights - Valve's Steam Deck has achieved significant success, selling over 4 million units globally by August 2025, despite initial skepticism from the market [1] - Valve is reportedly developing a new gaming device, codenamed Fremont, which features a custom AMD Hawk Point 2 processor and advanced GPU capabilities [3][5] - The Fremont device aims to target the PC and console gaming market, contrasting with the previous Steam Machine's failure due to lack of game support [6][9] Group 1: Product Performance - The Fremont device is equipped with a 6-core, 12-thread CPU based on the ZEN 4 architecture, with a base frequency of 3.2GHz and a maximum boost frequency of 4.8GHz [3] - It features a GPU based on the RDNA 3 architecture, potentially a variant of the Radeon RX 7600, with 28-32 compute units and at least 8GB of dedicated video memory [5] - The performance of the Fremont device is positioned to be superior to that of the Steam Deck, which has a less powerful 4-core, 8-thread CPU and integrated graphics [3][5] Group 2: Market Context - Valve's initial foray into hardware with Steam Machines was unsuccessful, primarily due to competition from Microsoft's Windows ecosystem and a lack of game support on Steam OS [7][9] - The gaming landscape has evolved, with 2K resolution becoming increasingly important for PC and console gaming, posing a challenge for the Fremont device to meet performance expectations [11][12] - The success of the Fremont device is uncertain, as it may face similar pitfalls as the Steam Machine, particularly regarding its ability to deliver high-quality gaming experiences [11][12]

Core Insights - The article highlights the significance of esports as a powerful symbol of globalization, attracting young tourists and enhancing a city's international influence [1] Group 1: Event Announcement - A major esports event, the BLAST DOTA2 Grand Slam, will be co-hosted in Chengdu in December 2023 by BLAST, Chengdu Radio and Television Station, and Chengdu Broadcasting and Television Group [1][2] - The BLAST Grand Slam is an international esports tournament created in collaboration with DOTA2 developer Valve, with the first three events held in Europe before moving to Chengdu in 2025 [1][2] Group 2: Strategic Importance - Chengdu was chosen for the event due to its rich cultural heritage, superior infrastructure, and mature esports environment, marking it as a significant esports destination [1][2] - BLAST aims to tap into the rapidly growing Chinese esports market, which is one of its fastest-growing audience markets [2][4] Group 3: Event Details - The total prize pool for the tournament is set at $1 million, featuring 12 top-ranked teams from various global regions, including China, Southeast Asia, and Europe [2][3] - The event will consist of online qualifiers from November 25 to 30, followed by the main event from December 5 to 7, with live audience attendance and global streaming in over 50 countries [3] Group 4: Local Impact and Collaboration - The event provides a platform for local DOTA2 teams to compete against international teams, enhancing the local esports scene [3] - A three-year strategic cooperation agreement was signed between Chengdu Broadcasting Group and BLAST to bring more international esports events to Chengdu [5] Group 5: Industry Development - Chengdu has a history of hosting major international sports events and has been recognized as China's "Esports Cultural Capital" [3][6] - The city has introduced policies to support the esports industry, including financial incentives for esports clubs and event hosting, fostering a robust esports ecosystem [6]

Core Insights - Krafton, the developer of the popular game "PUBG," faced a disappointing market debut, with its stock price dropping significantly on its first two days of trading [1][2][3] - The company's heavy reliance on "PUBG," which accounted for 96.7% of its revenue in Q1, raises concerns about its long-term stability [3][4] - Despite the stock decline, "PUBG" has proven to be a lucrative title, selling over 150 million copies and setting multiple sales records [4][5] Company Performance - Krafton raised $3.8 billion in its IPO, marking it as the second-largest IPO in South Korean history and the largest in nearly a decade [2] - On its first trading day, Krafton's stock fell by as much as 20%, closing down 10%, making it the first new stock to decline on its debut in 2021 [2][3] - The stock continued to decline on the second day, with a drop of 7.16% reported by noon [2] Market Dynamics - The gaming market for battle royale games, including "PUBG," is becoming saturated, with established titles dominating the market share [5][6] - Competitors like Tencent have capitalized on the popularity of "PUBG," with Tencent's mobile versions generating nearly $1.5 billion in revenue in the first half of 2021 [4][5] - New entrants in the battle royale genre face significant challenges in gaining market share without innovative features and superior gameplay experiences [5][6] Future Prospects - Krafton plans to launch a new mobile game, "PUBG: New State," with an alpha test scheduled for late August, aiming to leverage the existing fanbase [6][7] - The company is also exploring extensions of the "PUBG" IP into other media, including films and animated content, to diversify revenue streams [6][7] - Tencent is actively developing content around "Peacekeeper Elite," including esports events and animated series, indicating ongoing investment in the battle royale genre [6][7]

Summary of Conference Call Records Industry Overview - The conference call discusses the impact of new advertising laws on the gaming industry and e-commerce platforms, particularly focusing on tax implications and advertising costs [1][2][3]. Key Points and Arguments Advertising Law Changes - The new advertising law consolidates information service fees, technical service fees, and advertising publication fees into a single category of advertising fees, resulting in increased costs for companies, particularly in the gaming sector [1][3]. - The maximum tax rate for these fees has increased from 6% to 19%, with any amount exceeding the annual revenue deduction limit of 15% subject to a 25% corporate income tax [1][5]. Impact on Gaming Industry - Marketing expenses in the gaming industry typically account for 30%-50% of revenue, significantly exceeding the 15% deduction limit, leading to additional tax liabilities [1][5]. - The new regulations are expected to reduce advertising spending in the gaming sector by approximately 30%, with an overall contraction of about 15% anticipated for the year [2][20]. Company Responses - Companies are implementing measures such as expense splitting, establishing compliance departments, and adjusting contract processes to manage the new tax implications [4][6]. - For large clients, companies may absorb part of the tax burden to maintain relationships and discuss cost-sharing strategies [6][4]. Challenges Faced by Advertisers - Game advertisers face difficulties with Pixel integration, particularly large companies that struggle with security and internal risk controls, impacting their advertising costs [6]. - Domestic companies must comply with local tax regulations despite having overseas entities, leading to increased operational costs [8]. Financial Reporting Implications - Advertising expenses must now be classified as sales expenses, limiting the deductible amount and increasing tax liabilities for companies that previously classified these as cost items [7][10]. - The shift in classification is expected to raise effective tax rates and reduce net profit margins for gaming companies, especially those listed on A-shares [11][12]. Market Dynamics - The new tax regulations are likely to push advertisers to discontinue investments in unprofitable products and focus on developing new offerings [13]. - The competitive landscape may shift, favoring larger companies with established products that rely less on advertising, while smaller companies, particularly in the casual gaming sector, may face significant pressure [14][15]. E-commerce Sector Adaptations - E-commerce platforms are less affected due to their ability to categorize advertising costs differently, often treating them as production costs rather than advertising fees [21][17]. - Platforms like Bilibili and Douyin are more impacted due to their reliance on gaming-related content and advertising revenue [22]. Conclusion - The new advertising law and tax regulations are reshaping the financial landscape for the gaming industry and e-commerce platforms, leading to increased costs, strategic shifts in advertising spending, and potential market consolidation [20][24].

Core Insights - The 2025 BiliBili World Digital Entertainment Anime Culture Expo (BW2025) took place from July 11 to July 13 at the National Exhibition and Convention Center in Shanghai, attracting 400,000 attendees, a 60% increase from the previous year [1][3] - The event featured 167 global exhibitors and showcased a variety of popular games and anime culture, drawing significant international participation from 20 countries and regions, with 13% of ticket buyers being passport holders [1][3] Group 1: Event Overview - BW2025 is the largest ACGN comprehensive exhibition in Asia, covering all 8 exhibition halls of the venue [1] - The event saw a notable increase in attendance, with 150,000 more visitors compared to 2024 [1] Group 2: International Participation - The expo attracted international fans, including attendees from countries such as Japan, South Korea, Russia, Brazil, Saudi Arabia, and Egypt [3] - Attendees expressed excitement about the event, highlighting the rarity of such large-scale anime activities in Europe [5] Group 3: Game Exhibitions - The gaming area occupied three halls, featuring popular titles like miHoYo's "Honkai: Star Rail" and Tencent's "Delta Action" [5][7] - The PlayStation experience area was particularly popular, with notable appearances from renowned game designers [7] Group 4: Cross-Industry Engagement - Non-ACGN exhibitors, such as the Macau Tourism Board and various food brands, participated in the event, engaging with the anime community through cross-industry collaborations [8] - Chow Tai Fook Jewelry Group highlighted the emerging opportunities in traditional industries due to the rise of the ACGN economy, showcasing their IP collaboration products [8][11] Group 5: Sales Performance - Chow Tai Fook's collaboration with the Palace Museum is projected to generate retail sales of approximately HKD 4 billion for the fiscal year 2025 [11] - The collaboration with the game "Black Myth: Wukong" has already surpassed RMB 150 million in retail sales within six months of launch [11]

Group 1 - The public beta of "Douluo Dalu: Hunting Soul World" by 37 Interactive Entertainment started on July 11, featuring open-world MMO gameplay that appeals to fans of the original IP [1] - The dark fantasy action game "Mingmo: Yuanshu Zhi Yu" showcased a complete chapter for the first time at the BW2025 exhibition, highlighting its gameplay and Cthulhu-style narrative [3] - The retro flying shooting mobile game "Winding Up" by Mutong Technology began its return test on July 10 [4] Group 2 - Multiple games announced shutdowns, including the Huawei channel version of "Minecraft," which will cease operations on October 8, 2025, and "Second Galaxy," which will stop operations on October 9, 2025, due to business strategy adjustments [6][8] - The 2025 Esports World Cup (EWC2025) commenced on July 7 in Riyadh, Saudi Arabia, featuring a record-breaking participation of 22 clubs and 23 competition projects from China [9] - The BW2025 exhibition, Asia's largest ACGN event, opened from July 11-13 in Shanghai, attracting 700 exhibitors and over 1,000 content creators, with ticket sales selling out in 35 seconds [11] - Tencent Games announced the establishment of the K9 Cooperation Department on July 8, focusing on the long-term transformation and strategic cooperation of Ubisoft's core IPs [13]

Core Viewpoint - The article discusses Tencent's potential acquisition of Nexon, a significant player in the gaming industry, for approximately $15 billion, which could mark a historic deal in China's internet sector [2][3][4]. Group 1: Tencent's Acquisition Interest - Tencent is reportedly considering acquiring Nexon, the parent company of Neople, for $15 billion (approximately 107.7 billion RMB) [2][3]. - This acquisition could surpass Tencent's previous record of acquiring 84.3% of Finnish game company Supercell for $8.6 billion, making it the largest acquisition in the history of Chinese internet companies [3][4]. Group 2: Historical Context - Tencent's relationship with Nexon dates back to 2008 when it secured the rights to operate DNF (Dungeon & Fighter) in China after a lengthy negotiation process [5][6]. - DNF became a massive success in China, generating over $500 million in revenue for Neople in 2015, which accounted for 87.6% of its total revenue [5][6]. Group 3: Nexon's Market Position - Nexon, known for classic IPs like DNF and Bubble Fighter, has a significant market presence and was valued at approximately $15.8 billion (about 114 billion RMB) as of recent reports [9][10]. - The company has a history of successful acquisitions and growth, having gone public in 2011 and becoming a major player in the gaming industry [7][9]. Group 4: Challenges and Considerations - The potential acquisition faces challenges due to the recent passing of Nexon's founder, Kim Jung-ju, and the subsequent management transition to his family, which complicates negotiations [9][10]. - The current valuation of Nexon appears reasonable given its historical performance and market position, making the acquisition an attractive opportunity for Tencent [12].