The Haitong Securities Research Report points out that the domestic game market has entered a mature period, and the general trend is to go overseas. In 2023, the Chinese game market will account for about 37.4% of the global market, and overseas markets still have nearly double the space. Currently, the US and Japan are still the main markets for overseas games in China, accounting for 32.51% and 18.87% respectively, but the penetration rate is still less than 30%. From October 2023 to April 2024, overseas revenue from domestic games grew steadily, and AI was empowered to improve R&D and marketing efficiency. Recommended attention: 1) Game companies that are gradually becoming global: Gbit, 37 Mutual Entertainment, etc.; 2) High-quality game manufacturers focusing on overseas markets: Shenzhou Taiyue, Century Huatong, etc.; 3) Hong Kong stocks: Tencent Holdings, Bilibili, etc.

The Haitong Securities Research Report points out that the domestic game market has entered a mature period, and the general trend is to go overseas. In 2023, the Chinese game market will account for about 37.4% of the global market, and overseas markets still have nearly double the space. Currently, the US and Japan are still the main markets for overseas games in China, accounting for 32.51% and 18.87% respectively, but the penetration rate is still less than 30%. From October 2023 to April 2024, overseas revenue from domestic games grew steadily, and AI was empowered to improve R&D and marketing efficiency. Recommended attention: 1) Game companies that are gradually becoming global: Gbit, 37 Mutual Entertainment, etc.; 2) High-quality game manufacturers focusing on overseas markets: Shenzhou Taiyue, Century Huatong, etc.; 3) Hong Kong stocks: Tencent Holdings, Bilibili, etc.