China International Capital Corporation released a report predicting that the domestic gaming market in China, particularly in the second half of this year, will be full of vitality, mainly due to the launch of new high-quality games across multiple categories. At the same time, they believe that gaming policies in the second half of the year will remain stable and positive. However, the bank believes that in the current macro environment and intense market competition, domestic manufacturers' strategies will focus on ensuring long-term stable operation by adopting user acquisition and retention-oriented measures for user length and activity; implementing mild commercial behaviors; improving gross margin; and reasonably investing in game development and operation. The bank believes that Tencent (00700.HK) and Netease (09999.HK) gaming businesses and corresponding group valuations are attractive.