当《PUBG：Black Budget》（以下简称"黑域撤离"）以"射击搜打撤"的身份进入玩家视野时，它天然背负着一个极高的预期。 原因并不复杂。《PUBG》研发商KRAFTON，毕竟是作为过去十年里深刻影响过射击游戏主流形态，做射击游戏最成功的厂商之一。另一方面，搜打撤 赛道本身，已经完成了第一轮市场筛选。玩家对玩法的理解、对完成度的容忍度，早已不同于"吃鸡"诞生之初。 从《黑域撤离》近期测试释放出的玩家反馈来看，该作的表现与外界预期存在明显落差。它所收获的反馈显得格外现实，并未因为出身而获得宽容。 从形式上来看，它就是标准的搜打撤。但在实际体验上，它仍保留了大量PUBG式的设计习惯。就比如《黑域撤离》中有着吃鸡游戏标志性的"缩圈机 制"，驱动玩家向地图中心靠拢，高级资源也集中在地图中心地带。 游戏有这样的设定，可能是想构建以"打"为核心的搜打撤体验，这也是《PUBG》的核心玩法特色。可从当前的测试反馈来看，这一看似差异化的设定， 其实并没有取得预期中的效果。 在直观反馈上，《黑域撤离》的3C体验存在一定调优空间。作为常年游玩第一人称3D 射击、3D MMO产品的玩家，笔者第一次进入游戏时，居然出现 了"晕 ...

Group 1: Game Releases and Updates - MiHoYo and HoYoverse have unveiled a 31-minute gameplay demonstration of their flagship new title "Varsapura," showcasing its immersive experience and unique design [1] - The action mobile game "Bleach: Immortal Souls" developed by ACG has officially launched on all platforms, emphasizing the original storyline and 3D combat [3] - The highly anticipated hardcore shooter "Escape from Tarkov" has received negative reviews post-launch on Steam, with a current positive rating of only 8% in the simplified Chinese region due to performance issues and server problems [5][7] Group 2: Industry Developments - Beijing's Haidian District has released measures to promote high-quality development in the gaming and esports industries, offering up to 20 million yuan in rewards for outstanding game projects [10] - Unity and Epic Games have announced a historic collaboration, allowing Unity editors to directly publish game projects to Epic's "Fortnite" platform, enhancing cross-platform capabilities [11] - Tencent has completed a strategic investment of 1.16 billion euros in Ubisoft Nova SAS, valuing the studio at 3.8 billion euros, which oversees major game franchises like "Assassin's Creed" and "Rainbow Six" [12]

Core Insights - The article highlights the success of the game "Escape from Duckov," developed by a small team at Bilibili, which achieved over 200 million yuan in sales within 12 days of its release, making it a significant hit in the Chinese gaming market [5][7][34] - The game has maintained a 96% positive rating on Steam, with peak online users exceeding 300,000, indicating strong player engagement and satisfaction [5][7] - Bilibili's stock price increased by over 15% following the game's launch, reflecting investor confidence in the company's gaming prospects [7][34] Game Development and Market Position - "Escape from Duckov" innovatively combines elements of RPG, base building, and shooting mechanics, making it accessible to a broader audience compared to its predecessor "Escape from Tarkov," which is known for its hardcore gameplay [20][22] - The game's development faced challenges, including initial skepticism from the market regarding Bilibili's gaming capabilities, but the project was ultimately greenlit by Bilibili's CEO, Chen Rui, who recognized its potential [22][34] - The development team, consisting of only five members, was able to maintain flexibility and creativity, allowing for innovative game design that resonates with younger players [23][34] Player Engagement and Community Interaction - The game's quirky design choices, such as the ability to eat in-game items that are typically considered undesirable, reflect the developers' responsiveness to player feedback, enhancing community engagement [16][18] - The game encourages player-generated content through MOD support, which has led to over 500 user-created modifications on Steam, further enriching the gaming experience [30][31] Strategic Differentiation - The decision to focus on a buyout PVE model rather than PVP gameplay was strategic, allowing the game to avoid common pitfalls associated with competitive gaming, such as economic inflation and cheating [27][30] - The game features a dynamic environment with varying difficulty levels and conditions, which enhances replayability and player exploration [31] Future Prospects - Bilibili is positioning itself for future growth in the gaming sector, with several upcoming titles in development, indicating a robust pipeline and confidence in its gaming strategy [34]

Core Insights - Bilibili's self-developed game "Escape from Duckov" has achieved over 1 million sales within a week of its launch, marking it as the fifth domestic game to surpass this milestone in 2023 [1][3] - The game's creator, Jeff, initially estimated sales of around 300,000 units, with 500,000 being an optimistic target, indicating that the current success has exceeded expectations [3][4] - The game targets a diverse player base, including unexpected demographics such as middle-aged fishing enthusiasts [1][13] Game Development and Features - The game emphasizes a unique gameplay loop that separates PVP elements, focusing instead on collection, nurturing, construction, and task completion, which aligns with RPG mechanics [1][4][7] - Significant effort was put into developing a deep shooting system, despite removing the hardcore shooting mechanics from the original "Escape from Tarkov" [2][6] - The development team engaged in regular brainstorming sessions to incorporate creative ideas and Easter eggs into the game, enhancing player experience [2][7][15] Market Positioning and Strategy - The decision to launch on October 16 was strategic, avoiding competition from major game releases in September, October, and November [5] - The game has benefited from the rising popularity of the "Escape from Tarkov" genre, tapping into a growing player base [4][8] - The team is currently focused on fixing existing issues rather than developing online multiplayer or DLC plans, prioritizing player experience [2][14] Future Plans and Community Engagement - The development team plans to continue updating the game with new content, including maps, weapons, and challenges, while also addressing bugs [14][18] - The team encourages player feedback and ideas to help guide future updates, reflecting a community-driven approach to game development [18]

Core Insights - The rise of the "search and extraction" (搜打撤) gaming genre has significantly revitalized the accompanying service industry, particularly the escort service known as "护航" [1][12] - The escort service has become highly addictive for players, leading to increased demand and a shift in player behavior towards seeking these services [4][5] - The market for gaming escorts is expanding rapidly, with projections indicating a substantial increase in users and market size in the coming years [12][14] Industry Overview - The "护航" service involves hiring escorts to help players gather resources in-game and safely extract them, thus reducing the risks associated with gameplay [2][5] - The current gaming landscape has seen a simplification of game mechanics, increasing player engagement and demand for escort services [9][11] - The escort service market is projected to reach 32 billion yuan by 2024, with a compound annual growth rate exceeding 35% [12][14] Market Dynamics - The escort service market is characterized by high competition, with many players and studios vying for attention, leading to a "卷" (intense competition) environment [14][17] - Successful escort studios often leverage connections with popular streamers or professional players to enhance their service offerings and pricing [16][19] - The influx of players seeking escort services has raised concerns about the impact on the overall gaming experience, prompting discussions about maintaining game balance and player satisfaction [19]

Core Insights - Bilibili has successfully launched a self-developed game, "Escape from Duckov," which has sold over 500,000 copies on Steam within three days, generating an estimated revenue of over 25 million yuan [1][2] - The game achieved a peak concurrent player count of over 180,000, setting a record for Bilibili's games on the Steam platform [1] - The "search and escape" gameplay style, popularized by "Escape from Tarkov," has seen a surge in popularity, with other companies like Tencent also entering the market [1] Company Development - The development of "Escape from Duckov" began in 2022, initiated by a small team of five, with the lead developer being a deep user of "Escape from Tarkov" [2] - The team initially started with three members to create a game demo, later expanding to five as the project progressed [2] - The game was designed to simplify controls while enhancing core shooting mechanics, addressing the high entry barrier of similar games [2] Market Strategy - Bilibili aims to leverage its unique community ecosystem to support its gaming business, indicating that game distribution can benefit from content creation and community discussions [2] - The decision to focus solely on the PC platform was made after recognizing significant differences in player habits and interests between mobile and PC users [2] - The success of "Escape from Duckov" highlights Bilibili's potential to break through in the gaming sector, complementing its existing community-driven model [2]

Group 1 - The gaming sector continues to experience fluctuations, with the gaming ETF (159869) dropping around 2%, indicating a low-positioning opportunity for investors [1] - Notable performers among holdings include Fuchun Co., Mingchen Health, Huali Technology, and 37 Interactive Entertainment, while companies like Gigabit, Perfect World, Giant Network, and others are seeing significant declines [1] - A boom in domestic shooting games is anticipated from late 2024 to 2025, with Tencent's shooting products showing impressive metrics, such as "Delta Force" achieving 20 million DAU within a year and "Peacekeeper Elite" experiencing over 30% year-on-year growth in average DAU in Q2 2025 [1] Group 2 - The head effect in shooting games is pronounced, with a few products generating substantial revenue, and the "search and destroy" genre gaining popularity due to its immersive experience compared to the "battle royale" format [1] - The gaming sector is undergoing transformations driven by AI, content, and commercialization models, with the gaming ETF (159869) tracking the performance of A-share listed companies in the animation and gaming industry, presenting investment opportunities [2]

Core Insights - Tencent's new game "Delta Action" has quickly become a phenomenon within a year of its launch, contributing significantly to the company's gaming revenue growth [1][5][17] Financial Performance - Tencent reported a 15% year-on-year revenue increase to 184.5 billion yuan in Q2 2025, surpassing market expectations of 178.94 billion yuan [1] - Operating profit (Non-IFRS) rose by 18% to 69.25 billion yuan [1] - Domestic game revenue reached 40.4 billion yuan, up 17% year-on-year, while international game revenue grew by 35% to 18.8 billion yuan [1] Game Performance - "Delta Action" achieved an average daily active user (DAU) count of over 20 million by July, ranking among the top five in the industry for DAU and top three for revenue [5][16] - The game has shown a remarkable 66% increase in DAU within just three months, indicating strong user engagement [5] Market Trends - The success of "Delta Action" reflects a broader trend of rising interest in shooting games within the Chinese market, which is experiencing rapid growth [17][18] - Tencent's executives noted that the Chinese shooting game market is diversifying, with various game modes and styles coexisting without cannibalizing each other [19] Competitive Landscape - Other major companies, including NetEase and various independent studios, are also entering the "looting and extraction" game genre, indicating a competitive environment [15][16] - Tencent's strategy includes launching complementary products like "Rainbow Six: Siege" and "Valorant" mobile versions to enhance its market position [19]