Event: on April 26, the State Press and publication Administration announced the approval information of domestic games in April, and a total of 95 games were approved. Among them, 88 games got the mobile version number, 6 games got the mobile-client double-end version number, and 1 game got the client-host double-end version number. The number of version numbers issued remains high, and the supply side continues to improve: in terms of quantity, it has been approved this time.WildTigerTwistThere are a total of 95 domestic games, down from 107 in February. Prior to this, the number of domestic game version numbers has exceeded 100 for four consecutive months (December, January, February, March). Although the number of version numbers has declined, it is still significantly higher than the average level of last year. We believe that this is a positive signal that regulators continue to release to the industry: the steady increase in the number of 2024 is expected to continue, which will promote the supply side of the industry to continue to improve. A number of companies have been approved for new games with a wide range of games: in terms of product ownership, Tencent has no new games approved this month, and NetEase's "broken Land" has been approved. Other listed companies: Gibbit's "Box mainland", Kaiying Network's "Tomb robbing Notes: departure", Zhongqingbao's "Ancient and Modern 2-Wind from Penglai", "Huaxia painting World Records", "lost Pumpkin Town outside the Island", "prosperous scenery of Ten continents" and other games have been approved. With the continuous progress of AIGC technology, the game industry is expected to benefit: with the release of Vincent video model Sora, basic world model Genie and 3D modeling tool DUSt3R this year, we believe that the current AIGC already has a certain productivity value: with the continuous iterative progress of technology, AIGC technologies such as Vincent video and AI 3D modeling are expected to help game development. It is embodied in shortening the production and development cycle of the game and reducing the development cost of the game, so as to promote the continuous development of the whole game industry. Investment advice: as the normalization of the version number continues to be verified, new products are coming online one after another, we believe that the supply side of the game industry tends to be stable, and the industry as a whole ushered in an upward cycle. The number of new 2024Q1 games launched has increased slightly compared with the same period last year, and a number of major new games such as Tencent's "DNF Mobile Games", NetEase's "Yanyun Sixteen tones" and "Forever Mobile Games" have been launched one after another, or accelerate the growth of the industry as a whole. The follow-up recommendations focus on two directions: 1) companies with relatively high revenue from overseas games business and may be less affected by policies: Shenzhou Taiyue (300002)WildTigerTwist2) head game companies with strong R & D strength, large R & D investment, rich reserves and sustainable development advantages: Tencent Holdings (0700.HK), NetEase (9999.HK), gigabit (603444.SH), Kaiying Network (002517.SZ), Panax Notoginseng Interentertainment (002555.SZ), Perfect World (002624.SZ) and other companies. Risk tips: the risk of stricter supervision of industry policies, the risk of intensified competition in domestic and foreign game markets, the risk that the progress of new games is not as expected, the risk of loss of game users, and the risk that the development of AIGC technology is not as expected. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.
[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.
