The slowdown in the growth of local game revenue was one of the main reasons for the pressure on Tencent’s performance last year. In 2021q4, Tencent’s local game revenue decreased by 4% month on month, mainly contributed by “glory of the king”, “battle of the golden shovel” and “hand tour of the League of heroes”, but the decline in the revenue of “Tianya Mingyue knife Tour” and “peace elite” brought negative factors. Under the shadow of the suspension of the version number, Tencent launched a total of 21 mobile games last year, with outstanding performance in the development of secondary element, women’s orientation, SLG and other categories. Thanks to the strong performance of products such as pubgmobile, wild fighting and Valentine, the revenue of overseas Games was 45.5 billion yuan, a year-on-year increase of 31%. Tencent’s game distribution brand levelinfinite for overseas markets released seven mobile games in overseas markets last year. In 2021, Tencent’s investment activities in the game field remained high-frequency, continued to consolidate the foundation of Chinese game giants, and actively introduced overseas top game R & D resources. At a time when the recovery of the edition number is not yet clear, China tour is facing fierce competition. Diversified category expansion and emerging market development will be the mainstream trend of the industry. We are optimistic that listed game companies will inject performance vitality through category innovation and sea development. It is recommended to pay attention to G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Xinxin company and Perfect World Co.Ltd(002624) .
Epidemic prevention and control: vid-19; Required consumer price; China’s regulatory policy; Overseas Internet market policy.
Market performance review: CITIC media index rose or fell – 0.70% throughout the week, outperforming Shanghai Composite Index, Shenzhen Composite Index and gem index, ranking 13th among 30 CITIC primary industries. In terms of the performance of the audio and animation industry, the performance of CITIC was the third highest, followed by that of the Internet information industry, with a decline of 77.1%.
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