Source: Gelonghui

On March 21, the National Press and Publication Administration released approval information for domestic and imported Online Games for March 2025, including 129 domestic games, 5 imported games approved, and changes in approval information for 5 games.

It is noteworthy that the number of game licenses in March has increased compared to the previous two months, and there are many products that attract attention.

These include: TENCENT's "Snowy Blade", NetEase's "Journey of Mountains and Seas", 37 Interactive Entertainment Network Technology Group's "Origin of Ten Thousand Kings", Perfect World's "Golden Flash Knight Group", Giant Network Group's "Pocket Fighting Cricket", Yoozoo Interactive's "Young Three Kingdoms 3", Kingnet Network's "Legend Returns" and "Blood Jianghu: Awakening", Starry Sky Games' "There is a Hero", Youlong Entertainment's "Yuan Ring", and Kemu Game's "Long River Ten Thousand Scrolls", among others.

In this approval information change list, "Black Myth: Wukong" has added a game console version - PS5, and Star Harmony Entertainment's "Beast Lord: Shanghai New World" has added client and web versions.

TENCENT and NetEase have had a bumper harvest, with the PS5 version of Black Myth approved for the domestic market.

This approved list is filled with heavyweight products from major Game Developers.

$TENCENT (00700.HK)$ The approved "Snowy Blade", is an open-world martial arts mobile game developed by TENCENT's Photon Studio Group, with the original novel author Fenghuo Xizhu's official authorization. Supported by Unreal Engine 4 technology, it authentically recreates the vast and magnificent scenery of the world, intricately presenting the changes in weather such as wind, frost, rain, and snow, while building an aesthetic experience grounded in the original setting of "Snowy Blade".

The same-named adapted television series that aired in 2021, despite significant differences compared to the original work, still achieved explosive popularity, with total views surpassing 5 billion within 27 days of its release.

$NetEase (NTES.US)$ / $NTES-S (09999.HK)$ "Shan Hai Qi Lu" is a game that NetEase has laid out in the simulation management sector, with its predecessor being "Codename: Qi Lu". In 2024, "Codename: Qi Lu" also participated in the 2024 Cologne Game Show, attracting attention from many gamers, achieving a milestone of 1 million reservations across all platforms by November 2024.

$Yoozoo Interactive (002174.SZ)$ The recently approved "Young Romance of the Three Kingdoms 3" is a new title in the classic Three Kingdoms strategy game IP series, which has undergone corresponding upgrades in its visuals, storyline, and gameplay. In terms of narrative, the game also attempts to break away from the traditional "standalone dialogue" interpretation style, creating a "next-generation" experience by mobilizing more diverse resources and lively presentations.

The PS5 domestic version of "Black Myth: Wukong" by Game Science also obtained its license number in March, which means that after North America, South America, Europe, Australia, and New Zealand, the domestic market can finally purchase the PS5 physical version of the game.

Other noteworthy mentions include:

The classic IP sequel "Jianxia World 4: Infinity" by Xishanju continues the martial arts sentiment and may attempt open-world and multi-end cross-play features.
Yi World’s "Set Sail! Captain" focuses on maritime exploration, while "Dao Guo Xian Zong" deeply explores the immortal cultivation theme.
Liangwu Games' "Absolute Duck Guard" continues the "silly" style, possibly being a new Roguelike shooting game.
Xinghe Interactive Entertainment's "Scaly Light Ocean" and Liquid Cat's "Cute Pet Demolition Fun" focus on ocean adventure and pet socialization as core selling points.

The Online Games Sector is ushering in multiple catalysts.

Industry insiders analyze that the recent adjustment in the game concept sector has been substantial, rationally digesting profit-taking, and from a timing perspective, the adjustments are nearly complete. A new wave of upsurge may come unexpectedly, and the game sector may experience a retaliatory rise.

In recent years, competition in the gaming industry has been fierce, and players' demands for game quality and innovation have been continuously increasing. Open world games, as an emerging and popular game type, have vast market potential.

In terms of policy, on March 16, the General Office of the Central Committee of the Communist Party and the General Office of the State Council issued the "Action Plan for Boosting Consumption," which mentions in the consumption quality enhancement activities:

1. Strengthen the leading role of consumer brands, promote consumption of animation, games, e-sports and their peripheral derivatives, expand the domestic and overseas incremental market for domestic "trendy products," and promote the first-release economy. 2. Support the accelerated development of new consumption, promoting "AI + consumer."

In addition, the Gamma Data's "January 2025 Monthly Report on China's Game Industry" shows that in January of this year, China's game market actual sales revenue was 31.077 billion yuan, a month-on-month increase of 7.54%, and a year-on-year increase of 27.65%; the actual sales revenue of Chinese self-developed games in the overseas market was 1.675 billion US dollars, with a month-on-month increase of 2.72% and a year-on-year increase of 28.65%.

Starting from 2024, the issuance of game licenses is gradually stabilizing, and the number of approvals in March has reached a new high, further releasing bullish signals from policies. Game developers are able to plan their product lines more efficiently, and players are also greeted with more diverse choices. The "big release" of game licenses in March injects a strong boost into the 2025 game market. From the breakthrough of the domestic version of "Black Myth" to the continuous efforts of major companies like TENCENT and NetEase, and the creative bursts from small and medium-sized developers, the industry is moving towards a healthier and more diverse ecosystem.

Editor/jayden