Core Viewpoint - The article highlights the enduring appeal of party games as a social necessity, emphasizing the success of "Friendship Time" and its new game "Chaotic Cooking" as a key driver for stock performance and market interest [1][12]. Company Summary - "Friendship Time" (6820.HK) has seen a significant stock increase of 27.27%, reaching 1.12 HKD, marking a 100% rise this year, outperforming the Hang Seng Index [1][3]. - The launch of "Chaotic Cooking" has been pivotal, with the game achieving over 800 million pre-registrations and topping the free game charts shortly after its release [8][12]. - The game targets a younger demographic, particularly female players, with its cute characters and engaging social features, marking a strategic shift for the company [12][14]. Industry Summary - The party game sector has gained popularity, with user spending, downloads, and active users all increasing, particularly with a revenue growth of 84.4% in 2023 [13]. - "Chaotic Cooking" combines fast-paced competitive elements with slower simulation gameplay, appealing to a broad audience and enhancing social interaction among players [6][14]. - Despite the competitive landscape with established titles like "Egg Party" and "Dream Star," there remains room for new entrants like "Chaotic Cooking" to carve out market space through unique gameplay and cultural integration [14].

编者按： 又是一年六一儿童节，南财数字娱乐课题组在2021年至2024年测评的基础上，结合近期正式发布的移动互联网未成年人模 式，连续第五年，如期推出《20款手游未成年人保护机制测评（2025）》专题系列报道、报告、合规指引及创意传播内容， 以第三方视角研判国内主流游戏厂商的防沉迷系统建设。 在本专题的第二篇，我们将聚焦青少年在下载游戏后、正式开始游戏前，游戏产品所进行的一系列隐私政策推送、实名认 证、注册提示操作，分析各家厂商在涉及未成年人敏感信息采集、实名认证严谨性、相关规则提示等方面机制的完善程度。 目前，中国已有相关文件规范了适龄提示的标准。2020年12月16日，由中宣部出版局指导、中国音像与数字出版协会团体标 准化技术委员会立项的《网络游戏适龄提示》团体标准施行稿在广州发布。适龄提示的标识符以3个不同的年龄为标准，分别 为绿色的8+、蓝色的12+、黄色的16+。 该标准明确了标识符的具体使用场景，即适龄提示标识必须安放在游戏产品界面的显著位置，包括但不限于游戏的官网，客 户端注册、登录节点，游戏付费界面和宣传视频、广告等，以突出标识在游戏产品中的能见度和可视性。 实名认证，是防沉迷机制得以成立的基 ...

作 者丨吴立洋,实习生隆欣玲 编 辑丨肖潇 研究员注意到，社交，是当前未成年人在游戏体验中非常重视的一环，通过游戏与朋友、同学 共同娱乐，乃至在游戏外的时间相互分享，已成为推动未成年人尝试游戏的重要因素。但另一 方面， 由于互联网本身内容繁杂、参与者众多的特殊情况，社会经验相对较浅的未成年人在 游戏中进行社交时，也可能面临不良信息骚扰、个人信息泄露、点击外部风险链接等安全问 题。 在《移动互联网未成年人模式建设指南》（以下简称《指南》）中，也就社交相关功能提出了 具体且明确的要求，包括游戏厂商在内的互联网服务提供者有义务保护未成年人用户在使用过 程中不受不良信息的影响，并在受到社交相关负面威胁时给予便捷救济。 在今年升级的5.0测评指标中，未成年人在游戏过程中的社交保护机制建设成为了课题组新增 的重点关注方向。 测评结果： 本次测评中，2 0款游戏AP P平均分为7 8 . 3 0分，其中得分最高是9 5分的《王者荣 耀》和《我的世界》，得分最低为6 8分的《云海之下》与《开心消消乐》。 本次测评，研究员模拟未成年人的实际游戏流程，在未成年人可游玩时间段内，对测评手游的 防沉迷机制进行实测，分别从受测手游防沉 ...

南方财经全媒体记者 吴立洋 实习生隆欣玲 上海报道 编者按： 又是一年六一儿童节，南财数字娱乐课题组在2021年至2024年测评的基础上，结合近期正式发布的移动互联网未成年人模式， 连续第五年，如期推出《20款手游未成年人保护机制测评（2024）》专题系列报道、报告、合规指引及创意传播内容，以第三 方视角研判国内主流游戏厂商的防沉迷系统建设。 在本专题的第一篇，课题组将带你总览此次测评全流程中20款手游的整体防沉迷机制建设情况。结合未成年人保护的最新动态 和要求，观察各家游戏厂商表现如何。 近年来，自"史上最严"防沉迷新规出台后，中国游戏产业未成年人保护机制逐年完善，从强化实名制、落实不同年龄段消费限 制，到引入家长辅助监管机制、未成年人专属模式，每一次改进不仅是防沉迷机制本身的完善，也是游戏产业对未成年人用 户、社会对游戏产业认知更新的过程。 随着又一年"六一"的到来，游戏产业的防沉迷机制建设也将迎来新一轮的"摸底测验"。 研究员注意到，社交，是当前未成年人在游戏体验中非常重视的一环，通过游戏与朋友、同学共同娱乐，乃至在游戏外的时间 相互分享，已成为推动未成年人尝试游戏的重要因素。但另一方面，由于互联网本身 ...

Core Insights - The National Press and Publication Administration issued approval for 144 game titles in May 2025, including 130 domestic and 14 imported games [1] - Notable games receiving approval include Perfect World's "Yihuan" and NetEase's "Destiny: Stars" [1][4] - Perfect World's "Yihuan" has gained significant attention, with over 10 million views on Bilibili and 2.48 million reservations on TapTap [1][4] Group 1: Domestic Games - A total of 130 domestic games received approval, with key products from listed companies such as Shanghai Shulong's "Dragon Valley: Remake" and Baidu's "Greedy Snake Battle 2" [1] - Perfect World's "Yihuan" is highlighted as a potential turnaround product for the company, being the first urban supernatural open-world RPG in China [4] - The game's recruitment video has surpassed 5 million views, indicating strong interest [4] Group 2: Imported Games - 14 imported games were approved, including NetEase's "Destiny: Stars," which is the first mobile game based on the Bungie IP [4] - "Destiny: Stars" retains the series' world view and includes classic gameplay elements along with new features like Rogue mode [4] - Other notable imported titles include "Rainbow Island: Adventure" and "Eternal Tree Song: Genesis" from listed companies [4] Group 3: Changes in Game Approvals - Tencent's "Yuanmeng Star" received a new client version approval, while Blizzard's "Diablo II" had its operational unit changed, indicating a potential reconciliation between NetEase and Blizzard [5][8] - The approval for "Diablo II" marks a significant milestone for the classic ARPG, which has sold over 15 million copies globally since its release in 2000 [8]

Group 1 - In May, the National Press and Publication Administration approved 130 domestic online games, including titles from Perfect World and Kaixin Network [1][2] - Among the approved games, 70 are mobile games, 54 are mobile-casual puzzle games, 5 are mobile + client games, and 1 is a tri-platform game [1] - 14 imported online games were also approved, including Blizzard's "Diablo II" which is set to launch in the Chinese market [1][4] Group 2 - Perfect World's "Yihuan," a three-platform game, received approval and is an open-world RPG developed on the Unreal Engine 5, generating significant interest with over 5 million views during its promotional phase [2] - The game has been compared to "GTA" due to its impressive graphics and is seen as a potential turnaround project for Perfect World [2] - Tencent's "Yuanmeng Zhi Xing" has added a client version, expanding its platform availability [7]

去年10月，一则《天启行动》的停服公告把网易送上新闻。 这款在上线首日登顶iOS免费榜首的FPS(第一人称射击）游戏，从开始公测到宣布停服仅仅过去了45 天。 这一年，网易一口气出清了12款手游，除了《天启行动》，传闻六年投入十个亿的《射雕英雄传》也被 回炉重造，结合当年新推出的游戏数量，出生率为负。 不过好在前头还有高手，年度最短命游戏的头衔已经被索尼互娱的《星鸣特攻》（12天）提前锁定。 前方的阵线大洗牌，后方的网易也震动不断。去年年中，淡出一线的丁磊火速回归，开除四位贪腐高 层，年底又拔掉了网易高级副总裁邵赟。上一次如此伤筋动骨，还是2011年"梦幻西游之父"詹钟晖的出 走与网易游戏的战略大转向。 此时，距离轰轰烈烈的鹅猪大战也就只过去一年。 去年年初，搞百亿补贴的《蛋仔派对》和手持14亿预算的《元梦之星》大打出手，这场00后争夺战的战 况猛烈，以至于随后的业绩会上半数问题都与《蛋仔》有关。 丁磊曾期望这款游戏能和《梦幻西游》比命长，但现实总让人失望。春节时还力压友商的《蛋仔》，到 了二季度总游戏时长减半，7月赶上神兽放假出笼，用户留存反倒同比下滑四成[1]。 压力不只给到《蛋仔派对》，2024年，网易 ...