Lates News

According to a report from CITIC Securities, in September 2025, the National News and Publication Administration issued a total of 145 domestic game licenses and 11 imported game licenses. The number of domestic licenses remained high while imported licenses continued to maintain a monthly rhythm. The overall supply side has been stable. Major works focus on top manufacturers while mid-tier manufacturers actively explore differentiated themes. Looking ahead, the continuously relaxed license environment is expected to improve the short-term prosperity of the gaming industry and lay the foundation for product reserves and long-term research and development innovation. It is recommended to focus on companies that can benefit from the continued relaxation of licenses, the AI and IP commercialization trend, and the performance improvement brought about by new product cycles.