Citigroup reported that in December, 122 domestic gaming licenses and 13 imported gaming licenses were issued in Mainland China, totaling 1,417 gaming licenses approved for the entire year, representing a 32% year-on-year increase. Among these, there were 1,306 domestic gaming licenses and 111 imported gaming licenses, slightly higher than the firm's expectation of 1,200 to 1,400 licenses.

This includes Tencent's (00700.HK) "Monster Hunter: Traveler" and "Red Alert: Glory," as well as NetEase's (09999.HK) "Top Sniper" and "Infinity." As for companies listed in A-shares, 37 Interactive Entertainment Network Technology Group (002555.SZ) and Kingnet Network (002517.SZ) obtained 2 and 4 gaming licenses respectively.

The firm believes that with improvements in supply and quality, the gaming industry in Mainland China will continue to develop healthily next year, supporting steady profits and providing defense against geopolitical uncertainties. The firm estimates that the gaming licenses approved next year will range from 1,300 to 1,500, with domestic gaming licenses expected to be around 1,200 to 1,350, and imported games projected to increase to between 100 and 150.