Key points of the report:
Game industry data tracking
(1) industry: in January, the actual sales revenue of China’s mobile game market was 22.24 billion yuan, an increase of 20.25% month on month and 17.76% year-on-year. First, a variety of Games launched the spring festival activities to drive the growth of flowing water. Second, the launch of a variety of new games on the eve of the Spring Festival brings the increment of flowing water. In terms of going to sea, the actual sales revenue of China’s independently developed games overseas market in January was US $1.595 billion, an increase of 5.27% month on month, mainly driven by the renewal of spring festival activities in overseas Chinese areas. (2) Product: the top 30 game types in the best-selling list tend to be diversified. The 4399 strategy mobile game “civilization and conquest” is estimated to have a flow of more than 500 million in the first month, ranking first among new games. According to sensor tower, Tencent’s game revenue increased by 22% month on month in January. After the mobile game updated its new year clothes, the game revenue increased by 70%, and the publisher thunder game ranked 11th Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) “song of Cloud City” was launched in the Korean market in January, and its overseas revenue increased by 11.8% month on month. In February, it continued to grow and entered the top 5 of the best-selling list of local mobile games. (3) New tour: Tencent Tianmei studio developed SLG mobile Tour “return to the Empire” on February 11, and launched a new test on behalf of women to the mobile Tour “Phoenix in flight of Yanxi strategy” on February 15. Xuanzhongji and wolongyin 2 were launched on February 18 and February 22 respectively. Qingnian is expected to be launched on March 31. The exciting agent card game adventure commune is expected to be launched on February 24. (4) Channels and buying volume: according to dataeye data, the overall delivery volume of medium and heavy games continues to rise. Xinyou “civilization and conquest” ranked first, and Lingxi mutual entertainment “the strategic edition of the annals of the Three Kingdoms” and G-Bits Network Technology(Xiamen)Co.Ltd(603444) Yinian Xiaoyao “entered the top 10 on the list. Lingyunnuo, a new tour of friendship time, was launched online with great efforts, ranking seventh.
Tracking of key listed companies
Perfect World Co.Ltd(002624) : the version update of magic tower and Mengzhu drives the recovery, and we look forward to the subsequent products going to sea Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) : the net profit of 21q4 is expected to be 1.08-1.13 billion, and the revenue from going to sea keeps the fifth place among manufacturers G-Bits Network Technology(Xiamen)Co.Ltd(603444) : Kwai Xuan is the agent of “Obi Island: dream land”, and set up investment fund with fast hands. Tencent: acquire Canadian studio inflexion games to speed up overseas layout. Netease: Q4 game revenue increased by 30% year-on-year, and the sales volume of “eternal robbery” exceeded 6 million. Heart Network: flashparty went online in Japan and successfully topped the IOS free list.
Investment advice
Maintain the industry “recommended” rating. Actively pay attention to Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Perfect World Co.Ltd(002624) , Xinxin company, Wuxi Boton Technology Co.Ltd(300031) , etc.
Risk tips
The game flow performance is less than expected, the release of version number is less than expected, and the policy supervision is becoming stricter
