Core Viewpoint - ByteDance officially denied rumors regarding the closure of its gaming studio, Chao Xi Guang Nian, in Shanghai and the alleged layoffs of approximately 300 employees, clarifying that the studio remains operational and there is no project named Project: Babel [2][2][2] Group 1: Company Response - ByteDance stated that the rumors about the Shanghai studio's closure and layoffs are "false" [2] - The company confirmed that the Shanghai studio has not been shut down and that there is no project called Project: Babel [2][2] Group 2: Background Information - Chao Xi Guang Nian was launched by ByteDance in 2021 as a global gaming brand, with titles such as "Jing He," "One Piece: Bloodline," and "Planet: Reboot" under its portfolio [2] - Since the end of 2023, the gaming segment has undergone multiple rounds of contraction, with several unreleased projects being terminated and existing projects seeking to be divested or operated independently [2][2]