Core Insights - The recent DNF carnival highlighted the evolution of IP (Intellectual Property) in the gaming industry, emphasizing a shift from a focus on broad entertainment to a more integrated ecosystem approach [1][6] - The value of IP in gaming has been redefined, moving from attracting new users to enhancing the experience for existing players [6][8] Group 1: Historical Context - Ten years ago, the typical use of IP in gaming was heavily influenced by the mobile gaming boom, with significant financial investments in IP adaptations, such as the 8.1 million yuan acquisition of the adaptation rights for the novel "Unbeaten Throne" [3] - Companies like Blueport aimed to create a comprehensive cultural ecosystem around IP, leveraging brand influence and fan engagement to drive monetization [3][4] - Successful products like "I Am MT" demonstrated the potential of IP-driven mobile games, leading to a trend where games were adapted into various media formats [4] Group 2: Current Trends - In the past year, there has been a resurgence of interest in IP within the gaming sector, with a focus on its impact on existing user engagement rather than merely attracting new users [5][6] - The DNF IP is now being showcased through a matrix of products, allowing for deeper storytelling and user engagement within the gaming experience [6][8] - Collaborations with other IPs, such as the partnership between "Tide Watcher" and "Game of Thrones," illustrate the trend of enriching game narratives and enhancing player immersion [7] Group 3: Market Dynamics - The gaming market has reached a saturation point, making it increasingly costly to acquire new users, prompting a strategic shift towards retaining existing players through enhanced IP services [8][9] - The focus on deepening the service aspect of IP reflects a broader industry trend towards optimizing existing player experiences rather than solely expanding user bases [8][9]

Core Viewpoint - The game "Blue Star Origin: Ballad" has gained significant attention in the mobile gaming market due to its unique blend of "beautiful girls + pet-catching" elements, and its development progress appears to be on track with key milestones being met [4][6]. Group 1: Development and Release Strategy - The company has adopted a hybrid release strategy for "Blue Star Origin: Ballad," utilizing self-developed, agency, and joint release methods tailored to different regions, which is relatively uncommon in the mobile gaming sector [6]. - The game has successfully secured an overseas publishing entity, indicating a smooth development process and timely progression through critical phases [4]. Group 2: Collaboration with NEXON in South Korea - The partnership with NEXON for exclusive publishing in South Korea is notable, as it marks a shift from the typical trend of Korean companies importing Chinese products [7][11]. - NEXON, a leading player in the Korean market with a revenue exceeding 4 trillion KRW (approximately 211 billion RMB) in 2023, is well-positioned to leverage its established influence and experience to promote "Blue Star Origin: Ballad" effectively [7][9]. - The collaboration is expected to enhance NEXON's presence in the rapidly growing mobile gaming market in Korea, which has seen a significant increase in revenue from anime-style games, reaching nearly $1.4 billion in the past year, a 41% increase from 2022 [11][15]. Group 3: Joint Release in Japan - In Japan, the game will be jointly published with Yostar, allowing both companies to share responsibilities and risks while leveraging their respective strengths [20]. - The established reputation of the company in Japan, particularly from the success of "Azur Lane," has generated considerable pre-launch interest in "Blue Star Origin: Ballad," despite minimal promotional efforts [21][23]. Group 4: Potential in Hong Kong, Macau, and Taiwan - The agreement with NIJIGEN for the Hong Kong, Macau, and Taiwan markets suggests a strategy where the company may effectively self-publish in these regions, enhancing its operational capabilities [26][28]. - NIJIGEN's previous experience with major titles in these markets positions it as a strategic partner for the company [26]. Group 5: Market Reception and Future Outlook - The game has maintained strong user ratings, with scores of 9.0 and 9.3 on TapTap and Haoyoukuai respectively, and over 7 million pre-registrations, indicating positive player reception [30][31]. - The ongoing development and marketing strategies are expected to help the company evolve and solidify its position in the competitive mobile gaming landscape [31].

Group 1 - The core event of the "Girls' Frontline 2: Exile" 10th Anniversary IP Carnival is to attract new users and revive old players, with expected benefits for daily active users and payment rates [1] - The carnival is scheduled for May 2026, coinciding with the 10th anniversary of the franchise, which began with the launch of the first "Girls' Frontline" in May 2016 [1] - Strategic partnerships or new game announcements during the carnival could enhance market evaluations of the IP's commercialization potential [1] Group 2 - Tencent has initiated a testing recruitment for a new shooting game titled "Code: Shoot," with recruitment ending on December 1 and testing expected to start in mid-December [2] - The announcement of "Code: Shoot" is likely to boost market enthusiasm for Tencent's gaming business, potentially leading to a short-term increase in its stock price [2] - Related upstream and downstream companies, such as game engine and server providers, may also experience stock price fluctuations due to heightened market expectations [2] Group 3 - The new PVP gameplay "Dimensional Duel" announced by DNF features a large seamless map, 300 times the size of typical dungeon maps, allowing up to 18 players to compete simultaneously [3] - The success of "Dimensional Duel" could significantly impact DNF's market performance by attracting new players and increasing retention and payment rates [3] - The competitive gaming market poses challenges for new gameplay, and failure to meet player expectations could lead to player attrition [3]

Core Viewpoint - The incident involving coser Yasal at ChinaJoy has sparked significant backlash from fans due to perceived mismanagement and inappropriate content during promotional events, leading to a loss of trust in the involved agencies [1][21]. Group 1: Event Overview - Yasal was scheduled to attend various events at ChinaJoy, including the League of Legends birthday celebration on August 1 and other gaming-related activities on August 2, with a planned free day on August 3 [3][11]. - During the August 1 event, inappropriate interactions were filmed, causing outrage among Yasal's fans, who felt the content was disrespectful and damaging to her image [6][7]. - The situation escalated when Yasal was reportedly placed in a semi-closed area during the events, limiting fan interaction and leading to frustration among attendees [10][23]. Group 2: Agency Response and Management - RZCOS and its Chinese agency, ShisanYue, failed to adequately manage Yasal's popularity and the expectations surrounding her appearances, leading to a series of missteps [17][20]. - The agencies' silence and lack of proactive communication during the controversy exacerbated the situation, resulting in widespread dissatisfaction on social media [20][21]. - Yasal's subsequent video clarification did not alleviate fan concerns, as many expressed distrust towards the content shared through her domestic channels [14][15]. Group 3: Fan Reactions and Trust Issues - Fans perceived the arrangement of events as chaotic and inequitable, with many feeling that their opportunities for interaction with Yasal were unfairly limited [22][23]. - The ongoing mismanagement and lack of clear communication from the agencies have led to a deterioration of trust among fans, who are increasingly frustrated by the perceived lack of respect for their engagement [25][26]. - The incident highlights a growing concern among fans regarding the treatment of cosers and the potential risks associated with their public appearances [26].