2025.12.30 本文字数：3958，阅读时长大约6分钟 作者 |第一财经刘晓洁 2025年的中国游戏行业，是"回暖"与"内卷"并存的复杂图景。 市场收入突破3500亿元、用户规模超过6.8亿、版号数量创七年新高、游戏股估值持续修复……种种数据显示，这是游戏行业持续回暖的一年。然而，具 体到企业，在行业大盘触顶的存量竞争格局下，内卷仍是常态，耗资过亿的项目也很难成功了，游戏行业"挣钱越来越难"。 市场分化还在加剧，游戏产业分析师张书乐认为，强者越强是包括游戏产业在内的互联网科技领域的大势所趋，游戏行业的"二八定律"甚至在变成"一九 定律"。不过，单机和AI原生游戏正在成为中小团队突围的新机会。 谈及游戏行业这一年的关键词，渶策资本创始合伙人胡斌提到"转型"，产业正在从中国制作向中国创造，从数值驱动到创意驱动，从好卖到好玩。张书乐 判断，在游戏质量提升、游戏出海路径拓宽，以及各地密集出台激励政策的大背景下，中国游戏产业正在开启新一轮"黄金十年"的增长周期。 成功越来越难了 在高基数背景下，2025年国内游戏市场收入与用户规模再度刷新历史。 根据《2025年中国游戏产业报告》，今年国内游戏市场收入约3508亿 ...

近日，网易游戏《头号追击》发布网易（官方版本）停运公告称，由于游戏开发运营策略的调整，《头号追击》游戏将于2026年2月26日10时终止运营。 公告显示，2025年12月17日10时，《头号追击》的全平台下载入口将被关闭，玩家将无法下载该游戏，同时停止游戏充值、新用户注册；2026年2月26日10 时，正式停止游戏运营，关闭游戏服务器，同时关闭该游戏的网易游戏官方网站，届时上述网站将不能访问。 公告还显示，自停运公告发布之日起至2026年2月26日10时止，《头号追击》现有玩家游戏账号中尚未使用的头号币可继续使用。 值得一提的是，11月24日15时，网易旗下MMO游戏《射雕》正式停止运营，停运的主要原因是《射雕三部曲》IP的合作期即将结束，以及游戏运营策略的 调整。 ...

Core Viewpoint - Century Huatong has emerged as a significant player in the gaming industry, with its subsidiary, Diandian Interactive, surpassing major competitors like NetEase and miHoYo in global mobile game revenue, primarily due to its unique game offerings and strategic market positioning [1][6]. Group 1: Company Performance - Diandian Interactive distributed approximately 600 million yuan among 27 employees this year, showcasing its financial success [1]. - From June 2023, Diandian Interactive's global mobile game revenue exceeded that of NetEase, securing the second position in the industry, only behind Tencent [1]. - The flagship games, "Whiteout Survival" and "Kingshot," have generated cumulative revenues of over $3.3 billion and $300 million, respectively [5]. Group 2: Market Strategy - Diandian Interactive has focused on niche markets, developing games in less competitive segments, such as survival strategy and shooting card games, which has allowed it to capture player interest without facing intense competition [4][7]. - The company has successfully localized its games to cater to regional player preferences, enhancing user engagement and retention [4][5]. Group 3: Competitive Landscape - The gaming industry is witnessing an influx of competitors attempting to replicate Diandian Interactive's success, particularly in the survival strategy genre, which may increase customer acquisition costs for the company [7][10]. - Major players like Tencent are also entering the same market segments, intensifying competition and potentially impacting Diandian Interactive's market share [10][8]. Group 4: Future Initiatives - Diandian Interactive is actively working on retaining existing players through updates and enhancements to current games, while also exploring new game genres and integrating AI technologies to improve game development efficiency [11][12]. - The company is expanding its workforce, particularly targeting experienced talent from larger firms, indicating a commitment to growth and innovation [12].