Citigroup released a report indicating that on December 13, CNG will publish the "2024 Online Games Report" at the 2024 China Online Games Industry Conference held in Peking. CNG pointed out that the Chinese gaming market will witness six major trends reaching a historical high in 2024. The first is continued support from the mainland government to promote healthy development of the ecosystem; the second is noteworthy new game releases for mobile and console games; the third is that game studios focus on AAA games and indie games, with a trend towards cross-platform releases becoming increasingly evident; the fourth is the enhancement of Chinese gaming studios’ competitiveness in overseas markets; the fifth is that technological innovation improves development efficiency; and the sixth is an increase in the promotion of traditional culture.

Looking ahead to this year, Citigroup believes that leaders including Tencent (00700.HK) and NetEase (NTES.US) will continue to be the main driving force for industry development, mainly due to their rich product lines, large-scale operations, diversified franchises and development processes, as well as a balance between in-house development and third-party collaborations. A "Buy" rating is reiterated.