Group 1 - The Japanese mobile game industry has a unique development trajectory, originating from social games that thrived post-2007, with market size growing from 4.9 billion yen to 342.9 billion yen within five years [2] - The rise of social games led to a bubble, characterized by high costs and a surge in game failures, resulting in significant job losses and a shift towards outsourcing [3] - The first bubble burst in the social game sector was accelerated by the proliferation of smartphones, leading to a decline in social games, which were later replaced by mobile games with character collection and gacha mechanics [3] Group 2 - The introduction of smartphones allowed for more complex storytelling in games, with titles like "Chain Chronicle" and "Granblue Fantasy" setting new standards for narrative depth in mobile games [19][22] - The success of "Fate/Grand Order" (FGO) in 2015 marked a turning point, emphasizing the importance of narrative in mobile games and leading to a surge in demand for game scripts [25][37] - The influx of Chinese mobile games into the Japanese market, such as "Knives Out" and "Azur Lane," has disrupted the traditional Japanese mobile game landscape, leading to a decline in revenue for local companies [66][69] Group 3 - The Japanese mobile game industry is facing a crisis, with many companies experiencing revenue declines and struggling to adapt to changing consumer preferences [69][70] - The concept of "social game bubble burst" has been reintroduced, highlighting the industry's challenges in meeting the evolving demands of players for richer experiences and higher production values [81] - The competitive landscape is shifting, with companies needing to invest in high-quality narratives and production values to remain relevant in the face of successful foreign titles like "Genshin Impact" [75][80]

Core Viewpoint - Bilibili has regained confidence in its gaming business with the launch of its new game "Three Kingdoms: Hundred Generals Card" following the success of "Three Kingdoms: Strategize the World" [5][6][8] Summary by Sections Game Launch and Expectations - Bilibili's new game "Hundred Generals Card" is a strategic card game based on the Three Kingdoms IP, which is expected to attract younger users and diversify the gaming portfolio [5][10] - The previous game "Strategize the World" achieved significant success, topping the iOS free game chart and generating over 838.3 million yuan in revenue within five days of launch [5][6] Financial Performance - "Strategize the World" has shown impressive growth, with revenue increasing by 84%, 79%, 76%, and 60% over four consecutive quarters, indicating a strong future outlook for Bilibili's gaming business [8][9] Market Positioning and Strategy - Bilibili's strategy is shifting from a reliance on two-dimensional games to a broader gaming approach, with "Hundred Generals Card" seen as a key part of this transition [9][18] - The game features innovative gameplay that combines traditional card game mechanics with competitive elements, aiming to attract a wide range of players, including casual gamers [10][12] Gameplay Mechanics - "Hundred Generals Card" incorporates a unique 1V2 asymmetric competitive card gameplay and a 2V3 five-player mode, simplifying the entry for new players while enhancing the competitive experience [10][14] - The game is designed for quick play sessions of about three minutes, appealing to casual gamers and those with limited time [12][18] Community and Ecosystem - Bilibili's strong community and user base provide a significant advantage for promoting and operating its games, positioning it as a leading platform in the gaming community [24] - The company aims to leverage its existing user base to enhance the game's visibility and engagement [24] Commercial Potential - The commercial success of "Hundred Generals Card" will depend on its gameplay mechanics and user experience, with potential for significant revenue if it effectively captures the interest of both casual and dedicated gamers [24][26]

Core Viewpoint - Bilibili is launching a new strategy card game titled "Three Kingdoms: Hundred Generals Card," which aims to attract younger users and expand its gaming portfolio, following the success of "Three Kingdoms: Strategize the World" [1][3][4] Group 1: Game Development and Strategy - The game "Three Kingdoms: Hundred Generals Card" is designed as a card game incorporating skills from Three Kingdoms generals, utilizing classic card game rules like "landlord" while adding unique elements [5][9] - Bilibili's strategy focuses on appealing to younger audiences by modernizing traditional gaming formats, as seen in the success of "Three Kingdoms: Strategize the World," which achieved a revenue of 1.61 billion yuan in Q2, a 60% year-on-year increase [7][8] - The game aims to create a new experience by lowering the entry barrier for players, targeting a broader audience rather than niche gamers [9][11] Group 2: Market Environment and Challenges - The gaming market is facing challenges, with a reported 8% decline in revenue for the mobile gaming sector, particularly affecting the two-dimensional game segment [8] - Despite the challenges, Bilibili is diversifying its gaming offerings to include card games, which have shown stable performance in the mobile gaming market [11][12] - The competitive landscape includes established titles like "Fate/Grand Order" and "Blue Archive," which continue to perform well, indicating a tough environment for new entrants [8] Group 3: Platform Integration and Marketing - Bilibili's integrated approach as a developer, publisher, and platform allows it to leverage its resources effectively for game promotion, including significant support for content creators [13][18] - The platform's user engagement is reflected in a 21% increase in game content viewing time in Q2, highlighting its role as a key marketing channel for new games [18][20] - The launch of "Three Kingdoms: Hundred Generals Card" is positioned as a strategic move to enhance user engagement and platform content, utilizing popular influencers for promotion [20]

B 站单日增值百亿，不靠二次元 天齐锂业发公告，智利不同意它召开特别股东大会 关注《晚点财经》并设为星标，第一时间获取每日商业精华。 B 站单日增值百亿，不靠二次元 6 月 19 日，哔哩哔哩港股收盘大涨近 19%，市值一天内增长近百亿港元（约 90 亿元人民币），刷新 近 10 个月新高。6 月 20 日，B 站美股盘前又大涨超 8%。 有钱人流向阿联酋 绿茶餐厅押宝三线城市 股价大涨跟 B 站近期代理发行的一款新游戏《三国：谋定天下》有关。自上周开启公测以来，《三 国：谋定天下》维持在 iOS 游戏畅销榜前四，仅次于腾讯的 《地下城与勇士：起源》《王者荣耀》 和《和平精英》。 它很不二次元，B 站以往出圈的游戏包括《崩坏学园 2》《Fate/Grand Order》《碧蓝航线》等。而 《三国：谋定天下》是一款回合制策略（SLG）游戏，从名字到画风到玩法都跟二次元没什么关系。 这个类型的代表《三国志：战略版》，典型的用户画像是喜欢军事和历史、有一定消费能力的中年男 性，请过的代言人包括高晓松、张绍忠、金灿荣等。 但是 "三国题材" 很赚钱。《三国志：战略版》巅峰期的月流水接近 10 亿元。交银国际预计《三国 ...