Jiayin International released a research report stating that Tencent Holdings (00700) maintained a "buy" rating, with a 9% expected accelerated growth in mobile game revenue in the second quarter, considering the stable performance of "MDNF". For the entire year, there may still be room for an increase in mobile game revenue and income. Netease-S (09999) is also rated as a "buy", with a 15% expected growth in mobile game revenue in the second quarter. Multiple new games are scheduled to be released in the second half of the year, plus the return of "Warcraft", which is expected to alleviate the drag on game revenue growth from the high base of "Nishuihan Mobile Games" and the adjustment of "Fantasy" end games.

The bank stated that local mobile game revenue in June 2024 increased by 22% year-on-year, accelerating from May. In Q2 2024, Tencent's local revenue increased by 28%/6.7 billion yuan year-on-year, driven by the new game "MDNF". Overseas revenue increased by 2.7 billion yuan/47% year-on-year, mainly contributed by "Wilderness Action" and the new game "Burst Team". Netease: Local revenue increased by +25%/1.7 billion yuan year-on-year, with "Nishuihan"/"Identity V" contributing 1.6/0.7 billion yuan respectively, partially offset by the high base of "Egg Party". Overseas revenue decreased by 6%/50 million yuan year-on-year. As for new games, Tencent's "MDNF" and bilibili's "San Mou" are leading the market in the second quarter. As of July 3, it still maintains the Top 2/5 in the best-selling list of iOS games, with daily revenue exceeding 100 million yuan/25 million yuan.