Event: on the evening of April 11, 2022, the State Press and Publication Administration updated the list of a number of game version numbers, with a total of 45 models, marking the suspension of the re approval and issuance of game version numbers for many months. Relevant game products with version numbers are expected to alleviate the lack of new products in the market in the future, and can be commercialized online.
A total of 45 version numbers were issued in this batch, and Panax notoginseng, G-Bits Network Technology(Xiamen)Co.Ltd(603444) , Xinxin, Kaiying and Youzu were the first to get them
According to the disclosure on the official website of the State Press and publication administration, a total of 45 edition numbers were issued in this batch, including Wuhu 37 Interactive Entertainment Network Technology Group Co.Ltd(002555) ‘s dream voyage, the exciting party star, the tower hunter of G-Bits Network Technology(Xiamen)Co.Ltd(603444) thunder, the origin of sword net 3 of Xishanju, beware of fire and candle of chuanmengtiandi, the legend of the dragon of Kingnet Network Co.Ltd(002517) , the young Three Kingdoms: Pocket battle of Youzu, the caster of Shenzhen Zqgame Co.Ltd(300052) Lilith’s “life party”, ” Zhejiang Jinke Tom Culture Industry Co.Ltd(300459) ” wonderful adventure of playing “, etc. The number of single batches is lower than before, and the trend of high-quality products is obvious.
It is expected that the distribution of version number will continue the previous monthly distribution, and the prevention of addiction in high-quality and long-term operation is still the focus
We expect that this edition number distribution, or on behalf of the normalization of edition number distribution, will be distributed monthly, and the monthly quantity may fluctuate up and down around 50-80. The guidance of edition number distribution still focuses on the guidance of high-quality products and positive energy, and should meet the relevant requirements in subject matter, story background, character image and so on. Based on a single game version number, that is, the continuous updating and long-term operation of a single product, or the effect that more manufacturers hope to achieve. Based on the new version number, designing new games and carrying out new play innovation and story innovation are also more conducive to the innovative development of the industry. At the same time, on the issue of juvenile addiction prevention, the current identity authentication system and addiction prevention technology are becoming more and more perfect. Addiction prevention is a measure that guiding units and business families hope to implement. We believe that the problem of preventing addiction of minors has been basically solved. Under the guidance of anti addiction and other regulations, make high-quality innovation on the basis of the new version, long-term operation on the basis of old products, go to sea on mature products, or the choice of many manufacturers. The bottom of the industry is now, and the growth can be expected.
The restart of the game version number represents the release of productivity, and the short, medium and long-term investment opportunities of the industry can be grasped
The new products represented by the edition number are of great importance to the industry and many manufacturers. With new supply, the industry will have new innovation vitality and market increment. Especially in the process of continuous innovation and exploration of the meta universe and the continuous integration of online and offline virtual reality, games, as the representative of digital interactive entertainment and digital economy, have a very broad and extensible boundary. Digital assets and virtual characters, editable, open and interactive, combined with offline scenes, are the predictable development and interpretation path of the game in the future. We believe that we should grasp the opportunities for industrial development and market improvement based on the bottom of policy, performance and market.
In terms of short, medium and long term, we believe that the investment prospect of the industry is optimistic and is at the bottom at present. First, in the short term, based on the disclosure of the annual report, game companies are generally under 15 times the valuation, and the valuation is at the bottom; Under the superimposed epidemic situation, the game operation is limited and the duration may increase; The short-term positive catalysis of version number distribution. Secondly, in the medium term, the industry presents the situation of high-quality and long-term operation, raising the threshold and concentration, and the space for innovative categories such as big world, secondary element and women’s orientation can be expected; Games have become an important entertainment consumer goods in public entertainment life, and the user group, online time and payment ability will continue to rise; The proportion of accelerated game between CP and channels may be good, and the overseas market space is still broad. Thirdly, in the long run, in the era of meta universe, new technologies such as VR / AR games are gradually evolving, and new hardware is gradually introduced, which is conducive to the innovation and development of business model; In the process of continuous maturity of the IP industry chain, as the originator and producer of IP, the IP of the game will continue to enjoy the long-term dividend of its IP.
The bottom of the game edition restart policy has emerged, and actively grasp the opportunity of upward investment in the industry
Domestic and overseas beneficiary targets at home and abroad: including A-share: the A-share that includes A-share at home and from home and abroad: the subject of the A-share at home and abroad: including the A-share: the 002 ” ” \ , Wuxi Boton Technology Co.Ltd(300031) , Shenzhen Bingchuan Network Co.Ltd(300533) ; Overseas Tencent holdings, Netease, heart, dreamworld, BiliBili, China Mobile Games, ZuLong, Baiao, etc.
Risk tips: changes in epidemic situation, less than expected technological development, business risks, regulatory changes, etc
