Event:
On April 11, 2022, the State Press and Publication Administration issued 45 domestic online game editions.
Comments:
The release of game version number is restarted, and the pressure on the policy side is released
In terms of quantity, compared with the annual average of about 80 + models in 2021 before the suspension in August (including 166 models in March), the quantity has decreased, and the tightening of the supply side is still the trend. The regulators aim to guide the development of high-quality products in the industry through total amount control. The approved products include Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) “dream Voyage”, the company’s “party star”, the company’s G-Bits Network Technology(Xiamen)Co.Ltd(603444) subsidiary thunder network’s “tower Hunter”, friendship time’s “No. 0 relic”, Youzu’s “Three Kingdoms of youth: Pocket battle”, Xishanju’s “origin of sword net 3” and other products. The head and small and medium-sized manufacturers are evenly distributed.
China’s new reserve products are expected to enter the normal online rhythm and release the performance flexibility
Under the suspension of edition number distribution, the launch rhythm of manufacturer Xinyou in China has been affected. On the one hand, optimize the content and strengthen the long-term operation of stock products. On the other hand, the positioning of product research and operation is global. Some products without edition number have been launched or tested overseas, and the supply side is relatively sufficient. The resumption of version number will help Chinese products enter the normal online rhythm and release the performance flexibility. From the perspective of reserved products that have not yet obtained the version number, Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) reserves include self-developed products such as light handed down, code magic m, code AOE, code Three Kingdoms by, code C6, code female to cy, etc G-Bits Network Technology(Xiamen)Co.Ltd(603444) reserve SLG mobile game “projects”, national style RPG “Fengshen fantasy world”, mobile game “M66”, etc Perfect World Co.Ltd(002624) reserves include “Tianlong Babu 2”, “one punch Superman: the world”, “code Ma”, “P5”, “country of morning and night”, “black cat anecdote society”, etc. The self-developed products “flashparty” (existing edition number) and “T3” of the company have been launched overseas in February and March respectively. The light of the torch: infinite “and” sword of the lily of the valley “are expected to be launched in the second half of the year, and the” heart town “and” story of stars “are expected to be launched next year.
The phased achievements of the new regulations on juvenile addiction prevention have emerged, and the standardized development of the industry is the long-term main line
At the end of August 2021, the edition Department issued new regulations on the prevention of minors’ addiction, limiting the upgrading of minors’ game time and duration, focusing on supervising the access of enterprises and games to the national anti addiction real name certification platform, and the progress of edition number approval slowed down and suspended. The resumption of the release of the version number also shows that the new regulations on juvenile addiction prevention have achieved phased results, and the game industry is gradually developing towards benign and standardized development.
Investment advice
At present, the game sector has experienced early policy adjustment and is at the undervalued level. The version number is reissued, and the pressure on the policy side is released. The sector is expected to usher in valuation repair. Actively recommend and pay attention to high-quality content research and transportation manufacturers Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) , G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Perfect World Co.Ltd(002624) , heart companies, etc.
Risk tips
Stricter regulation of industrial policies, intensified industrial competition and less than expected distribution of edition numbers.
