Core Insights - Sensor Tower's latest data shows that Diandian Interactive's three products dominate the October overseas mobile game revenue chart, with "Whiteout Survival" and "Kingshot" consistently taking the top two spots, while "Tasty Travels: Merge Game" saw a 15% revenue increase, rising to 17th place [1][4] - The games have launched Halloween-themed events to boost player engagement and spending, contributing to Diandian Interactive's position as the second-highest global mobile game publisher by revenue [1][4] Revenue Rankings - "Whiteout Survival" and "Kingshot" are ranked 1st and 2nd respectively, while "Tasty Travels: Merge Game" is ranked 17th [2] - Other notable entries include "Gossip Harbor: Merge & Story" at 3rd, "Last Z: Survival Shooter" at 4th, and "Seaside Escape: Merge & Story" at 10th [4][11] Growth Highlights - "Gossip Harbor" achieved a 9% month-over-month revenue growth, while "Flambé: Merge & Cook" saw a significant 37% increase, entering the revenue chart at 26th place [4] - "Trickcal: Chibi Go" launched in early October and experienced a 320% surge in overseas revenue, making it to the revenue chart at 27th place [5] - "Top Tycoon: Coin Theme Empire" also debuted on the revenue chart, with revenues exceeding 85 times that of June, ranking 5th in the coin-piracy genre [5] Download Rankings - "Block Blast!" topped the download chart with a 41% increase in downloads, marking its highest value since launch [10][12] - "X-Clash" saw a remarkable 466% increase in downloads, securing the second position in the download rankings [12] - "Mobile Legends: Bang Bang" maintained its popularity with a 7% increase in downloads, ranking 3rd [12]

Core Insights - The article highlights the rapid growth of Chinese mobile games entering overseas markets, driven by supportive government policies and increasing participation from various game developers [1][5] - A list of top-performing Chinese mobile games in overseas markets is presented, showcasing their estimated revenues and the factors contributing to their success [2][4] Industry Overview - The overseas market has become a primary testing and launching ground for many small to medium-sized game developers [1] - The Chinese gaming industry has entered a period of explosive growth in international markets, particularly following regulatory changes in 2018 and 2021 [1][5] - The government has implemented policies to support the internationalization of the gaming industry, creating a favorable environment for overseas expansion [1] Performance Metrics - In the third quarter, ten games made it to the "Overseas Dark Horse List," with a total estimated revenue of $445 million (approximately ¥3.176 billion) [5] - Three games exceeded $60 million in estimated overseas revenue, indicating strong market performance [5] Top Games Analysis - **Kingshot** by Century Games topped the list with an estimated revenue of $153.5 million (approximately ¥1.095 billion) since its launch in February 2025 [4][6] - **Last Z: Survival Shooter** ranked second with an estimated revenue of $87.6 million (approximately ¥625 million) [7] - **杖剑传说** (Staff Sword Legend) debuted in third place with an estimated revenue of $63.2 million (approximately ¥451 million) [7][8] New Entrants - Four new games made their debut on the list, including **Lands of Jail**, **Destiny: Rising**, and **银与绯** (Silver and Crimson), showcasing the diversity of themes and gameplay styles [9][12] - **Lands of Jail** generated an estimated revenue of $29.3 million (approximately ¥209 million) [11] - **Destiny: Rising**, leveraging the popular IP, achieved an estimated revenue of $15.8 million (approximately ¥113 million) [12] Market Trends - The SLG (Strategy Game) genre is highlighted for its high retention rates and strong user loyalty, making it suitable for long-term operations [11] - The integration of diverse gameplay styles within SLG games is seen as a strategy to broaden user demographics and enhance monetization efficiency [11][14] - The article notes the growing popularity of two-dimensional games in overseas markets, emphasizing the need for unique themes and cultural elements to stand out [12][14]

Core Insights - In July 2025, 32 Chinese game publishers made it to the global mobile game publisher revenue TOP 100, collectively generating $1.95 billion, accounting for 34% of the total revenue of the TOP 100 publishers during this period [1] Group 1: Top Performers - Tencent maintained its position as the top global mobile game publisher, with a 20% increase in revenue driven by popular titles like "Honor of Kings" and "PUBG MOBILE" [2] - Point Cloud Interactive secured the second position, with a 10% revenue increase, bolstered by strong performances from "Kingshot" and "Tasty Travels: Merge Game," which saw revenue growth of 34% and 52% respectively [2] - NetEase ranked third, with a 23% revenue increase attributed to the anniversary celebration of "Party of Eggs," which doubled its income [4] Group 2: Notable Revenue Growth - miHoYo's "Honkai: Star Rail" experienced a 325% revenue surge in July, marking a new high for 2025, contributing to a 28% increase in overall revenue for the company [4] - Florere Game's new title "Last Z: Survival Shooter" saw a 44% revenue increase, helping the publisher achieve a 24% overall revenue growth [4] - Paper Games' "Love and Deep Space" reached a record high in revenue following a major update, resulting in a 33% increase in overall income [5] Group 3: Emerging Publishers - Momo Technology's flagship title "Mobile Legends: Bang Bang" continued to perform well, with a 32% revenue increase, while its new title "Silver and Scarlet" debuted strongly in the iOS download charts [6] - Youka Network's two titles, "Three Kingdoms Kill" and "Finger Mountain and Sea," saw revenue increases of 110% and 252% respectively, leading to a doubling of overall income [6] - Giant Network's "Supernatural Action Group" experienced significant revenue growth of 76%, climbing to the 29th position in the revenue rankings [6] Group 4: Additional Publishers - Other Chinese game publishers that made it to the global TOP 100 include Bilibili and Mattel163, totaling 32 publishers [7]

Group 1 - The core viewpoint of the articles highlights the performance of Chinese mobile game publishers in the global market, with Tencent leading the revenue rankings and several other companies showing significant growth [1][2][3]. - Tencent remains at the top of the revenue rankings, with its games like "Honor of Kings" and "Peacekeeper Elite" dominating the top spots in the App Store [2][3]. - Florere Game has seen a 12% increase in revenue, driven by the success of its titles "Dark War Survival" and "Last Z: Survival Shooter," which have shown consistent growth [1][14]. Group 2 - Pointing to the competitive landscape, companies like Lilith and Kuro have also demonstrated strong performance, with Lilith's revenue increasing by 12% and Kuro's by 23% [17][18]. - Joy Net Games has successfully entered the market with its new RPG title, showing promising results in overseas markets [21][24]. - The article notes that the overall revenue of Chinese mobile game publishers in the global top 100 reached $2.02 billion, accounting for 36.6% of the total revenue [1]. Group 3 - The government is encouraging the expansion of Chinese games into overseas markets, which is expected to become a key focus for many game developers [29][32]. - The article emphasizes the potential for growth in the overseas gaming market, with various companies actively recruiting and forming teams to enhance their international presence [29][32]. - The competitive dynamics in the global market are evolving, with new products and companies emerging to challenge existing players [29][32].

Investment Rating - Industry Rating: Recommended [5] Core Views & Investment Suggestions - Significant progress in China-US tariff negotiations, maintaining cautious optimism. The US will suspend 24% tariffs on Chinese goods for 90 days while retaining 10%, and China will reciprocate. This agreement signals a phase of easing tensions and may alleviate export chain pressures [2][24] - Three major food delivery platforms, including JD, Meituan, and Ele.me, were summoned for discussions to enforce fair competition and protect rider rights. This regulatory push is expected to enhance service quality and industry standards [2][30] Market Overview - In the week of May 12-16, 2025, the Shanghai Composite Index rose by 0.76%, the CSI 300 Index increased by 1.12%, and the ChiNext Index grew by 1.38%. The Hang Seng Index saw a 2.09% rise, while the SW Media Index fell by 0.77%, ranking 29th among 31 industries [1][12] Investment Opportunities - Focus on leading technology companies in China, particularly in the context of increasing domestic demand and technological innovation. Suggested sectors include: 1. Hong Kong internet leaders benefiting from consumption and employment stabilization 2. Gaming industry, with policy incentives boosting domestic demand and overseas expansion potential 3. Film and cultural tourism sectors, with consumption policies aiding cinema recovery [3][25] Industry Data - Top three films by box office for the week include "Dumpling Queen" with 31.914 million yuan, "Hunting Gold: Game" with 27.856 million yuan, and "Life Opens the Door" with 12.039 million yuan [4][57] - iOS game sales rankings are led by "Honor of Kings," "Peace Elite," and "Golden Shovel," while Android rankings feature "Heart Town," "My Leisure Time," and "Honkai: Star Rail" [4][61] - The top three TV dramas by broadcast index are "Bending the Waist," "Huai Shui Bamboo Pavilion," and "A Good Life" [4][64]

Core Insights - In April 2025, 33 Chinese companies made it to the global mobile game publisher revenue TOP 100, collectively earning $2 billion, which accounts for 38.4% of the total revenue of the global TOP 100 mobile game publishers [1] - Tencent, Diandian Interactive, NetEase, miHoYo, and Lemon Microfun remained the top five Chinese mobile game publishers by revenue [1] - "Honor of Kings" saw a significant revenue increase of 71% in April, regaining the top position in global mobile game revenue, contributing to a 10% rise in Tencent's mobile game revenue [1] Group 1 - Diandian Interactive's 4X strategy game "Kingshot" experienced a revenue surge of 209% in April, becoming a new growth point for the publisher, which saw a 5% increase in overall revenue [5] - miHoYo's "Honkai: Star Rail" celebrated its second anniversary with a new version launch, resulting in a 192% revenue increase in April, leading to a 51% rise in the publisher's revenue [5] - Florere Game's revenue increased by 21% in May, driven by the growth of its mobile games "Dark War Survival" and "Last Z: Survival Shooter," moving up one position to rank 9 [5] Group 2 - Yostar's mobile games "Blue Archive," "Mahjong Soul," and "Arknights" saw revenue increases of 110%, 458%, and 69% respectively, leading to a 91% surge in publisher revenue and a significant jump of 11 positions to rank 11 [6] - Joy Net Games' new titles "Endless Journey: Scroll World" and "Raising Godkkaebi" contributed to a 24% revenue increase in April, placing the publisher at rank 22 [6][7] - Tencent's "Honor of Kings" led the revenue growth in the Chinese App Store, with a 64% increase, while "Delta Force" and "Naruto" also saw significant revenue boosts of 115% and 91% respectively [8][9]