[Zhenzhuo Institutional View] NetEase (09999.HK): New game 'Infinity' becomes the focus of the gaming exhibition; Chinese game developers are gaining influence

At this year's Tokyo Game Show (TGS), Chinese game developers stood out, with NetEase's new title "Infinity" becoming the center of attention. On-site observations indicate that the scale and influence of Chinese exhibitors continue to grow, attracting significant attention from players worldwide and reflecting strong global demand for Chinese online games despite current economic uncertainties. Japanese domestic releases this year received relatively muted responses, while Chinese developers showcased diverse game formats with clear competitiveness and innovation, highlighting their expanding presence on the global stage.

NetEase's "Infinity" debuted its latest trailer and live demos at TGS, drawing massive queues with peak wait times reaching three hours per session, and won the "Most Anticipated Game Award." The title combines open-world exploration with high freedom, rich storytelling, and action-RPG combat, while multiplayer and racing modes add variety, broadening its appeal. The on-site reception praised its polished execution, positioning it as a potential next-gen hit and easing market concerns about competition in the genre.

In summary, Chinese game developers—especially those with global vision and product strength—will continue to drive industry revaluation. The popularity of "Infinity" underscores China's accelerating influence in international markets. As these companies innovate and expand cross-sector, they are expected to not only strengthen overseas growth but also deliver sustainable value and stable shareholder returns.

Source: KGI Securities