Investment Rating - The report does not explicitly provide an investment rating for the industry Core Insights - The report analyzes the social media response to the "Genshin Impact: Song of the Moon Reenactment" version PV, highlighting significant engagement and community mobilization around the game's content release [3][6][39] Summary by Sections Game Overview and Audience Characteristics - "Genshin Impact" is an open-world RPG developed by miHoYo, where players explore the fantasy world of Teyvat, encountering unique characters and challenges [3] - The core audience is predominantly young, with 41.3% aged 18-24 and 34.7% aged 25-34, while male players make up over 70% of the user base [5][5][5] Social Media Heat Analysis - The social media heat around the PV showed a clear double peak pattern, indicating effective community mobilization [7] - Douyin and Bilibili were the primary platforms for interaction, with Douyin seeing an interaction surge to 246,000 during the first peak [12][16] User Sentiment and Emotional Insights - Overall sentiment towards the new version PV was predominantly neutral and positive, with negative emotions being minimal [23] - The return of the character "Servant" after 532 days generated significant excitement among players [27] Core Discussion Themes - The introduction of new characters and gameplay features, particularly the UGC mode "Thousand Star Realm," sparked extensive discussions about the game's future [34] - Players expressed high expectations for the new content while also raising concerns about commercialization and content quality [36][41] Version Analysis and Evaluation - The success of the PV is attributed to miHoYo's precise control over content, community engagement, and promotional strategies [39] - The introduction of the UGC mode is seen as a strategic move to transition from content consumption to content creation, enhancing user engagement and extending the game's lifecycle [43] Opportunities and Challenges - The new version presents growth opportunities while also posing challenges related to content management and user experience [44][48]