Wind Observation | Behind the fire of "A Sheep", the game industry has not yet emerged from the "cold winter"

Fengkou Finance reporter Zhang Tingwang

"A Sheep" was completely hot. On September 14, multiple entries about this mini -game have been on the Weibo hot search list.

Why is it hot? What is the situation of this A -share listed company involved behind it? Does it mean that the "cold winter" of the entire game industry has passed?

"The Sheep is a Sheep" hot search on the fire

Recently, a cartoon background eliminating the barrier -breaking game "Sheep's Sheep" was completely hot. On the Weibo hot search list.

Screenshot source: Weibo

According to the official Weibo of the sheep, because the game was too hot, the "Sheep's Sheep" had a downturn, and the server collapsed 3 times in 2 days.

According to the company's investigation data, Beijing Jianyou Technology Co., Ltd., a "sheep is a sheep" affiliate company, was jointly held by Zhang Jiaxu, Xiamen Thunder Network Technology Co., Ltd., and Beijing Le Shi Technology Co., Ltd. Among them, the Xiamen Thunder Network is a company of Gibit. The company entered the shares in June 2022 and holds 10%of the shares of Jianyou Technology and is the second largest shareholder.

Photo source: Enterprise Check

Intellectual property information shows that Jianyou Technology has registered software copyright registration of "Sheep". The first release date of the game is June 13, and the registration approval date is July 29. In addition, the company also registered with software copyright registration on the home of wandering pets, the village of the Moon, crazy wipe, and rescue the large watermelon.

According to the reporter's understanding, this mini -game is only launched for more than a week, and the official blog and the public account are registered shortly. At present, "A Sheep" has no independent apps, you can search and play in WeChat Mini Program.

So why is "A Sheep a Sheep" hot? This may be the psychology of the player.

Some players said that domestic games have done well in terms of quality, but they are still lacking in gaming and user stickiness, and homogeneity is relatively obvious. Psychological, playable, challenging, and further works in classic elimination games are also worth learning by game developers.

In fact, as a game of eliminating breakthroughs, there are only two levels of "Sheep". The first level is the basic gameplay. It is mainly convenient for the rules. The difficulty of the second level has soared. It is said that the customs clearance rate is only 0.1%. Some netizens described the difficulty of the two levels: "1+1, the second level of postgraduate entrance examination."

The game divides the "sheep team" according to different provinces. Players can only join the province's "sheep team" after passing the second level.

Many netizens said, "In order to clear the customs, they did not sleep all night", and some even challenged more than 300 times that they had not yet cleared the customs. The division of the "sheep team" has aroused the victory and defeat of netizens in various places. It is difficult for the game, and from "five o'clock in Sichuan, I haven't scored, my three people fought to dawn", "Play 12 and played 12 to 12. I ca n’t pass the hour, and I suddenly feel that Henan is not as good as me. "...

It involves this A -share company behind

According to several media reports, behind the sheep developer, there is also A -share company Gibit (603444) holding shares. Gabit said: It has paid attention to the explosion of "A Sheep". This game is developed by Gibbit's participation company. The investment ratio is not high. Related revenue will be reflected in the investment income of Gibbit.

According to the data, Gabit's independent operation platform Thunder Game has accumulated rich experience in the operation of MMORPG, Roguelike, placing hanging, community development and other categories. , Expansion of cooperation channels and follow -up customer service, etc., such as a complete set of operating systems. Through planning brand activities, advertising promotion, IP construction and linkage, platform recommendation, word -of -mouth marketing, etc., the company continues to promote refined operations, with users -oriented, and is committed to creating and spreading a better experience in the field of entertainment.

Public information shows that Gibit has a variety of game operators such as "Ask Mobile Games", "One Think of Xiaoyao" and "Moore Manor".

In 2017, Gabit went to the Shanghai Stock Exchange to be listed on the Shanghai Stock Exchange, becoming the first game company to be listed independently in the main board in the A -share market. At that time, Gabit was launched at a price of 54 yuan/share, and in August 2020, the stock price exceeded 671 yuan/share. Gabit is also called "game Mao".

Financial data shows that in the first half of 2022, Gabit achieved operating income of 2.511 billion yuan, an increase of 5.17%year -on -year; net profit attributable to mothers was 688 million yuan, a year -on -year decrease of 23.59%. The net cash flow generated by operating activities was 7.50 billion yuan, a year -on -year decrease of 27.34%.

Gibig's financial data in the first half of 2022

Screenshot Source: Flush iFind

This is the first time that Gabit has declined in the interim reporting performance since its listing in 2017. Looking back at history, starting in 2018, Gibih has accelerated its performance, and the net profit growth rate of four consecutive years has remained at a double -digit level.

From 2018 to 2021, Gabit achieved operating income of 1.655 billion yuan, 2.170 billion yuan, 2.742 billion yuan, and 4.619 billion yuan, a year -on -year increase of 14.91%, 31.16%, 26.35%, 68.44%; net profit was 723 million yuan, 8.0909 million yuan, 8.09 million 100 million yuan, 1.046 billion yuan, and 1.468 billion yuan, a year -on -year increase of 18.58%, 11.93%, 29.32%, and 40.34%. Among them, Gibbit's performance reached the highest point in 2021. In addition to the continuous efforts of the game business, Gabit's investment income also played a positive role in the company's current performance. In April 2021, Gibbit transferred 10.11%of the celadon games held to Tencent Venture Capital and other 10.11%equity at a price of 303 million yuan.

In terms of R & D, Gabit increased in the first half of 2022, with investment costs of 379 million yuan, an increase of 16.48%year -on -year. As of the end of June 2022, Gabit had a total of 614 R & D personnel, accounting for 56.28%of the total number of employees. There are 11 patents, 250 software copyrights, 46 art copyrights, 1 text copyright, and 1025 trademarks and 123 domain names. However, from the perspective of research and development, Gibi still has space. In the first half of 2022, R & D investment accounted for 15.08%of operating income, and from 2019 to 2021, 15.31%, 15.70%, and 13.18%, respectively, did not greatly improve.

The industry's "cold winter" has not improved

On the evening of September 13th, the official website of the State Administration of Press and Publication announced the list of games approved in September. A total of 73 games were approved. This year, since the release of the version number this year, the fifth version number was released.

In the first four batches of this year, neither Netease and Tencent's two major factories were not approved. This time, it was the first version number of NetEase and Tencent's games. In addition, China Mobile Games, Heart Networks, Gibigi, Zhongqingbao and other companies are listed.

In 2021, due to the dual pressure on the suspension of the version number and the protection policy of minors, the entire game industry can be described as spent in the cold winter. At the beginning of September 2021, the new rules for the restrictions on the time of the minor game time were introduced. The time for primary and secondary school students to play games every week has been compressed from nearly 10 hours to 3 hours. At the same time, the results of the version number renewal of the official website of the National Press and Publication Department failed to be released in August. It was not until April 2022, and the game version number began to be re -issued in nearly eight months.

Picture source: Visual China

It is worth noting that as of now, there have been 314 game version number this year. The previous four times were 45 on April 11, 60 on June 7, 67 on July 12, and 69 on August 1.

Although the number of distribution has grown slowly from April to September, compared with the 755 version number last year, the total amount is still small. Since 2018, the total number of game version number has decreased for 4 consecutive years.

Judging from the game manufacturers who have been approved by the version number this year, it can be described as "a few happy and more sorrows." Public information shows that there are many small and medium -sized game companies in this trial game. It is understood that some producers announced all layoffs for a one and a half months ago due to the incompleteness of the incompleteness, and the approved game will not go online to meet with the players; some development teams have even held 2 versions within a month after waiting for a long time.

According to the semi -annual report disclosed by a number of listed companies, the game version number was suspended, which led to the postponing of some new products of listed game companies and even affected the performance in the first half of the year.

The Sino -mobile game semi -annual report disclosed that it is expected to be launched in 2022. The key games that have not obtained the version number as scheduled include "The Biography of the New Fairy Swordsman Biography", "My Royal Sword Diary", and "Zhenhun Street: Born for King" And the independently developed game "The Lord of the City". At present, "My Royal Sword Diary" has been approved in August, and "Zhenhun Street: Born for King" was also approved in September.

In the first half of this year, Zhongqingbao's gaming business revenue fell 13.52%. In a column of changes in operating income during the semi -annual report, Zhong Qingbao pointed out that "mainly due to the decline in the revenue of mobile game revenue during the reporting period."

The "July 2022 Game Industry Report" released by Gamma data shows that domestic game revenue in July was 20.8 billion yuan, a new low of 6 months. In July 2022, the actual sales revenue of the Chinese game market reappeared again year -on -year. It was still mainly affected by the mobile game market. The number of mobile game products in July increased by 50%month -on -month.

The industry's growth is weak, and the leading company will inevitably feel a "chill". Tencent's 2022 mid -term report shows that the company's game business revenue in the second quarter of this year was 42.5 billion yuan, a year -on -year and month -on -month decrease of 1%and 3%, respectively.

The Soochow Securities Report shows that the normalization of the version number has been formed. Combined with the "Opinions on Promoting the High -quality Development of Foreign Cultural Trade" in July in July The supply side is expected to continue to improve to boost market confidence; Chinese mobile game manufacturers have a leading research and operation capabilities. With the gradual improvement of localization capabilities, the penetration rate in overseas markets will continue to increase, and the performance of the driving sector will increase.

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