Winter samples of game companies: Outside sea and boutique has become a new growth point?

On July 12, the third batch of domestic online game version number has been released since this year, which has been favorable. The Wind online game index rose 2.32%on Wednesday. It can be said that it brought another "spring breeze" to the game industry in the second half of the year.

But reviewing in the first half of 2022, the game industry is still difficult. Wind data show that from 2022 to July 4, 40 listed companies have been delisted in A shares, of which at least 6 are game companies.

In the severe situation, Tencent's injection game will be added to the sea when the cost is reduced. While expanding the type of game, NetEase has become a new force. For mid -waist game manufacturers, the game version number is distributed. It is their hope.

As the head enterprises in A -share games, how does Sanqi Mutual Entertainment, Perfect World, and Youzu Networks perform? In the first half of the game market confidence, how should game manufacturers explore the direction of certainty in the uncertain market?

The A -share game sector is sluggish, Sanqi Mutual Entertainment resist the pressure?

Due to the restart of the game version number, the game industry gradually ushered in some "warm currents". However, good news is time to pass to the end of the industrial chain. At present, domestic game companies still need to tighten their pants and belt.

Since the beginning of this year, there has been a rare revenue and user doubles in the domestic game industry. According to Gamma Data "Report on the Development Status of Enterprise During the 2022 Epidemium", the size of the game market users does not increase but decrease, and the number of Chinese game users has decreased by 0.04%year -on -year and a year -on -year decrease of 0.01%.

In this context, most of the listed game companies have declined to a certain extent in revenue and net profit in the first quarter of this year, but some game manufacturers resist the pressure, such as Sanqi Mutual Entertainment, Perfect World and Kaiying Network. In the first quarter, the net profit increase in the first quarter reached 550.8%. The net profit increase of Perfect World and Kaiying Network in the first quarter reached 81%and 66.7%, respectively.

On the evening of July 11, Sanqi Mutual Entertainment (002555.SZ) released the 2022 semi -annual performance trailer that the company's net profit was 16.0 to 1.70 billion yuan during the reporting period, a year -on -year increase of 87.4%~ 99.1%, of which in the second quarter The net profit of home mother was 84 to 940 million yuan, an increase of 14.0%to 27.6%year -on -year, and a month -on -month increase of 10.5%to 23.7%.

Although the performance of data cannot be the only indicator for judging a game company, it is especially important to adjust the development strategy of game companies in time during the pain period of the industry. Back to Sanqi Mutual Entertainment, why is its performance better than their peers? Behind the eye -catching results, how many orientation of many game companies can we dig out?

Use the distribution as a breakthrough out of the sea, and the research and operation integrated extra quality

As the number of domestic game users increased into a stagnation stage, expanding the new market+cost reduction and efficiency has become the only choice for many game companies, and the quality of gaming and gaming has also become a certain direction for game manufacturers. For Sanqi Mutual Entertainment, it has been 10 years to go to sea, and it has a certain accumulation and layout in the quality of the game. This may be the key to its risk.

On the one hand, the domestic game market is the stock market, but overseas is a market increase market. Various game types have many possibilities.

Take Tencent as an example. At present, Tencent has opened game studios in Los Angeles, Seattle, and Singapore. At the same time, it has also reached cooperation with many foreign game studios. The game manufacturers like Mihayou opened the market through the self -developed game works.

The focus of various game manufacturers is different, and Sanqi Interactive Entertainment focuses on the distribution. From the perspective of the brand structure of Sanqi Interactive Entertainment, in the current game business, except for the 37 games is R & D brand, 37 online games, 37 mobile games and 37Games are all issued brands.

For some game companies with lack of distribution experience, choosing a publisher who has a certain market in the target area when choosing a highly cut contract with its own game type is undoubtedly more effective for their games.

However, overseas markets are complicated and players in different regions have different preferences. Therefore, when game manufacturers issue games, they must consider local policies, game categories, and target market users. In the face of these problems, Sanqi Mutual Entertainment adopted the "adaptation of local conditions" strategy to make efforts on the product end and distribution and promotion.

The strategy of adapting to the local government not only saves a lot of invalid "buy" costs for Sanqi Mutual Entertainment, but also maximizes the use of existing resources to expand new businesses and projects.

For example, in the field of Yuan universe, according to data from Sanqi Mutual Entertainment in 2021, the current concepts related to the completion of the investment or acquisition of the investment or acquisitions include Archiact, Wave Optics, RAXIUM, Digilens, Shande Technology, Film Technology, Light, Light, Light, and Light The boat semiconductor, Jingzhan semiconductor, fast -moving cloud game, etc. These are also good for subsequent three -seven intellectual cultivation of the Yuan universe.

With the breakthrough of the distribution as a breakthrough, it is more stable compared to R & D, because R & D games need to invest more funds and time, and the cycle is pulled longer. And in terms of results, the research and development of a game also has more uncertain factors. It is okay for large manufacturers, and for small and small game manufacturers, it will emphasize the company's anti -risk ability. The issuance as a "rear" program for the game company, the time cost and the risk of the capital chain need to be affected by the issuance are less than R & D. But for Sanqi Mutual Entertainment, under the outlet of going to the sea, both the head players and the mid -waist game manufacturers have paid more attention to the distribution channels. There are more opportunities overseas but the challenges have increased.

On the other hand, in order to get out of the embarrassing dilemma of "quantity greater than quality", many game manufacturers began to change their thinking and began to focus on the full life cycle of extending the game.

For example, NetEase games, many games are created through big IPs to create boutique games, such as "Harry Potter", "Pokémon Adventure" and "Marvel Duel" and other games. Among them, "Harry Potter: Magic Awakening" gained 15 million appointment users before launch. Sanqi Mutual Entertainment is to choose to increase the research and operation to pave the way for the quality of the game.

From the perspective of pine cones, the integrated research and operation can greatly improve the company's independent innovation capabilities. In this model, a benign circular mechanism can greatly reduce the communication costs between game companies from research and development to distribution and operations. Reducing costs can improve the efficiency of the entire process, which is conducive to promoting product operation and maintenance and inventory stability.

In order to ensure the efficiency and resource integration of R & D, Sanqi Interactive Entertainment also establishes the entire life cycle management process for the development and establishment of the game research and development project, running through multiple links such as creative-project-process-review, etc., and realize the risk control of the entire process of research and development. While effectively controlling the cost, it can also increase the success rate of product research and development.

Taking "Douro Continent: Soul Master Duel" as an example, this game is a representative work of Sanqi Mutual Entertainment in the "research and operation" strategy. In terms of R & D, this game is developed by the next generation 3D engine and uses PBR technology. In terms of distribution and operation, a series of AI big data analysis systems led by "Athena" greatly improved the game development and version iteration process. Efficiency and success rate.

It is reported that "Douro Continent: Soul Master Duel" unified technical documents and underlying logic, clarified the second -generation industrialization research and development process, and formed a reused system. This also means that if Sanqi Interactive Entertainment is developed and operates the same type of games, it will greatly reduce time and cost, and at the same time, it can also be followed when it is developed.

Of course, compared to Tencent and NetEase, the influence, resources, research and development of these two large factories have greater advantages than Sanqi Mutual Entertainment. It is also a big test.

Generally speaking, the integration of going to sea and research and operation can be regarded as a road that is suitable for your development after the game industry has groped for so many years. Although the competition is still hot, it can at least keep his status. In particular, the development of the game market is constantly changing, the industry is moving towards standardized development, and the movement of game companies not only stays at the game level.

High accumulation, the value of game manufacturers is amplified?

Earlier, Ma Xiaoyi, senior vice president of Tencent, said at the 2022 Tencent game conference: "With the continuous progress of technology and the upgrade we know, the game will definitely integrate into more economic development and social life, release greater release Scientific and technological power and richer value ".

Gamma Data "Social Responsibility Survey Report of China Game Industry Enterprise in 2021" shows that in 2021, the Chinese gaming industry social social responsibility index reached 13.4, which has maintained an upward trend for three consecutive years. The social responsibilities undertaken by the game company are recognized by the outside world, and they are inseparable from their efforts.

Among them, ESG, as a new concept of sweeping the global market in the past few years, represents the demand for sustainable development of enterprises, industries, society, and even all humanity, and is also favored by game manufacturers. The 2021 ESG report released by Tencent also shows that its sustainable social value division spend RMB 695 million for the field of sustainable social value innovation and the "common wealth special plan".

Previously, the outside world's perception of the game was still on fun, and the game company just wanted to make users' money. This view is not wrong, but now many game companies return to the society to return the society to bear social value, and there are even many "do not do business".

For example, when some game manufacturers have developed games, they attach importance to the educational role of the game. There are also many games combining traditional culture such as the Three Kingdoms and Water Margin on the market. Essence Or game manufacturers incorporate something valuable and socially into the game, playing a role in teaching.

As an earlier batch of attention and ESG rating in the game industry, Sanqi Mutual Entertainment is the first company to get A in the MSCI ESG rating. Not long ago, Sanqi Mutual Entertainment released the 2021 social responsibility report explained its practices and staged results in corporate governance, innovation empowerment, and value -innovation.

It is reported that Sanqi Mutual Entertainment has improved from various aspects such as data security, user privacy protection, employee occupation development, and low -carbon transformation since focusing on ESG. For example, in the carbon reduction and environmental protection work, in 2019, Sanqi Interactive Entertainment invited the international authoritative third -party certification agency SGS to collect and calculate carbon data within the enterprise, and based on this, it made 2025 to achieve corporate carbon in 2025 Neutral commitment. Nowadays, more and more game companies have a broader understanding of the company's value. The release games are gradually combining more social issues and practical applications, thereby showing a wider and diverse social value and long -term layout.

Conclusion

As Wu Xinxin, vice president of NetEase's game market, said in an interview: "At the moment when the game industry continues to develop and improve, the game has long been separated from a single entertainment model and entered all aspects of people's lives."

Now, the game is not only a tool for entertainment and leisure. It has become a digital tool for inheriting culture and positive education. As the connection between games and real life is getting closer, the dual value of the game's economy and social value will become the key point. Essence

Whether it is to seek new growth to the outside world or continue to cultivate diversification and quality, for game manufacturers, they are building and improving their own economic attributes and social attributes. Confirm that game companies are more far -reaching value.

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