Tencent makes another move! 101 repurchases during the year

In the past two trading days, Tencent Holdings in the Hong Kong stock market has conducted the 100th and 101st repurchase operations of the year.

On November 22, Tencent Holdings disclosed that it repurchased 1.23 million shares on the same day at a cost of 401 million Hong Kong dollars. This is the 100th time Tencent has repurchased this year. On November 23, Tencent Holdings repurchased 1.23 million shares again. Since the beginning of this year, Tencent Holdings has repurchased 113 million shares, and the cumulative repurchase amount 37.382 billion Hong Kong dollars.

As of the close on November 23, Tencent’s share price was HK $329.2 per share, a cumulative rebound of about 17% from the phased low set on October 25. Based on the total repurchase price/cumulative number of repurchases, the average repurchase price of Tencent during the year was HK $332.03 per share, slightly higher than the current price.

All repurchased shares have been cancelled in the first three quarters

Statistics show that since last year, Tencent’s average daily repurchase amount has gradually increased. From the end of August last year to the end of May this year, Tencent’s daily repurchase amount was about 350 million Hong Kong dollars. But since June this year, Tencent’s average daily repurchase amount has increased to about 400 million Hong Kong dollars, evolving into "four hundred million".

In February 2021, Tencent’s share price reached a peak of HK $704.6/share, but due to the reduction of major shareholders, changes in international financial marekt and market concerns about the slowdown in the company’s growth rate, Tencent’s share price has been under pressure. At the end of October 2022, Tencent’s share price once fell to HK $187.29/share. Since then, Tencent’s share price has bottomed out and rebounded. In March this year, the share price was close to HK $400/share, and then continued to fluctuate. As of the close of November 23, Tencent’s share price was HK $329.2/share.

Since October 25, 2022, Tencent’s share price has risen by nearly 70%, which is related to the favorable policies of the Internet sector, the improvement of its own performance, and the spare efforts to repurchase.

Tencent Holdings disclosed in the 2022 annual financial report that in 2022, Tencent repurchased about 107 million shares, which cost more than 33.80 billion Hong Kong dollars. Since 2023, Tencent has repurchased 113 million shares, which cost 37.382 billion Hong Kong dollars. This means that the amount of repurchases this year has exceeded that of last year.

The general manager of a private equity firm in Shenzhen said that Tencent is a company with strong cash flow. In the past, Tencent bought many high-quality company assets through foreign investment, which drove the growth of the company’s revenue and total profit. Since the second half of 2021, Tencent’s foreign investment has declined, and its huge operating cash flow has been concentrated in share buybacks.

Tencent’s buyback partly hedged a sell by Prosus, South Africa’s largest shareholder.

On June 27, 2022, Tencent announced on the Hong Kong Stock Exchange that the company’s major shareholders, Prosus and Naspers, announced that they would start a long-term, open-ended repurchase plan, and the repurchase funds would be obtained through the orderly small sale of Tencent shares by the South African newspaper group.

"In April this year, Prosus deposited 96 million shares of Tencent into the Hong Kong clearing system. It is estimated that Prosus reduced its holdings of Tencent by about 1 million shares per day, accounting for about 4% of Tencent’s average daily turnover. This is roughly equivalent to Tencent’s average daily repurchase of about 1.20 million shares," said Zang Hailiang, director of investment at Yide Wealth.

Regarding the arrangement of share repurchase, Tencent said in the third quarter of this year’s performance report that in the third quarter of 2023, Tencent bought back 47.519 million shares at a total consideration price of about 15.30 billion Hong Kong dollars (excluding expenses) on the Hong Kong Stock Exchange, and these shares have been cancelled. In previous performance reports, Tencent also released similar content.

As of November 23, Tencent’s total share capital had fallen to 9.508 billion shares, close to the total share capital in May 2019. "According to the rules, the repurchase of US and Hong Kong stocks has to be cancelled, thereby reducing the total share capital, which can increase earnings per share while the profit remains unchanged. Over time, the value of the shares in the hands of Tencent’s remaining shareholders will increase," said a senior market person in Hong Kong stocks.

Performance returns to a high-growth track

This year, Tencent returned to the high growth track. Recently, Tencent disclosed the third quarter of 2023 financial report, revenue 154.625 billion yuan (both in RMB, the same below), an increase of 10%; non-international general accounting standards under the net profit of 44.921 billion yuan, an increase of 39%. In the previous two quarters, Tencent’s revenue and net profit growth were also double digits.

Tencent has gradually built up a diverse range of business segments, including value-added services, online advertising, financial technology, and enterprise services.

In the third quarter of 2023, Tencent’s value-added service business revenue was 75.748 billion yuan, an increase of 4% year-on-year, accounting for 49% of total revenue; online advertising business revenue was 25.721 billion yuan, an increase of 20%, accounting for 16% of total revenue; financial technology and Enterprise Services business revenue was 52.048 billion yuan, an increase of 16%, accounting for 34% of total revenue.

"In the third quarter of 2023, we achieved solid and high-quality revenue growth, significant margin improvement, and structured operating leverage. Emerging businesses such as WeChat Channels and Mini Games contributed to our high-margin revenue streams," said Pony Ma, chairperson and chief executive of Tencent.

In light of the development trend of the technology industry, Tencent’s focus is on laying out the AI model. "We are shifting our focus from businesses with less room for development to businesses with higher growth potential," said Pony Ma. "We are investing more in artificial intelligence models to give our products new functions and improve the ability to accurately recommend content and advertising. We are not only committed to positioning our leading artificial intelligence capabilities as a multiplier for our own business development, but also to create value for our corporate customers and society as a whole."

As of November 22, southbound funds held Tencent’s total market value of HK $2958.49 billion, accounting for 9.59% of the issued ordinary shares. However, with the continuous rebound of Tencent’s share price, southbound funds have recently been on the trend of picking up and selling shares in Tencent.

"The biggest source of chaos in the world"

Korean War, Vietnam War, Afghanistan War … Today, let’s briefly review many wars launched by the United States after World War II to see what kind of war crimes this "world’s biggest source of chaos" has committed.

Korean War

Overview-On June 25th, 1950, Korean Civil War broke out. The Truman administration of the United States brazenly intervened with its Cold War mentality and ambition to dominate the world and contain communism, and rallied the so-called "United Nations forces" to launch an all-out war against the DPRK. On July 27, 1953, the Korean Armistice Agreement was signed, and the three-year Korean War ended.

Loss-Although the Korean War was short but extremely bloody, more than 3 million civilians died and about 3 million people became refugees. According to the statistics of the DPRK, the war destroyed about 8,700 factories, 5,000 schools, 1,000 hospitals and 600,000 families, and 2 million children under the age of 18 were displaced by the war.

According to the data, the US military secretly carried out germ warfare in northern Korea and parts of northeastern China. O ‘Neill, a prisoner of the US Air Force, said in his confession: "The US military chose to start germ warfare in winter … to test the cold-resistant germ weapons we made in a special laboratory. The ultimate goal is to use these bacterial weapons in germ warfare against countries with cold climates such as the Soviet Union and people’s democratic countries. "

Voice-"This is a wrong war with the wrong enemy at the wrong place and time." Omar bradley, then chairman of the Joint Chiefs of Staff, said.

This is a Korean child who was injured in the Korean War. Xinhua news agency

Vietnam War

Overview-In 1955, the Vietnam War broke out. During the war, the United States fostered the pro-American regime in South Vietnam against North Vietnam. On May 14th, 1961, American "Special Operations Forces" invaded South Vietnam. On April 30, 1975, the last US helicopter left Saigon.

Losses-The Vietnam War killed 2 million civilians and displaced more than 3 million refugees. The US military is throwing about 20 million gallons of defoliants (orange agent), resulting in 400,000 Vietnamese deaths and 2 million Vietnamese suffering from cancer or other diseases. The US military is still leaving behind about 350,000 tons of explosive bombs and mines, and it is estimated that it will still take 300 years to completely remove them.

In March 1968, American soldiers slaughtered more than 500 people, including men, women and children, in Mylai village, Vietnam’s generalized province. This was the Mylai village massacre that shocked the world. According to the Los Angeles Times, in addition to the massacre in Mylai Village, there were at least 320 other incidents in which American troops massacred Vietnamese civilians during the Vietnam War, killing nearly 700 civilians.

Voice-In his speech in front of the Vietnam War Memorial Wall in 2012, former US President Barack Obama said that the cost of war is huge, and it will cause serious casualties among innocent civilians. War itself is not glorious and should be rejected.

This is the wreckage of the US b-52 bomber displayed at the Vietnam Military Museum in Hanoi, Vietnam. Xinhua News Agency (photo by Gao Mengjin)

Kosovo War

Overview-On March 24th, 1999, NATO led by the United States brazenly bombed Yugoslavia without the authorization of the United Nations, under the banner of "preventing the humanitarian crisis in Kosovo", and the Kosovo war broke out. In June, NATO signed an armistice agreement with Yugoslavia, and Kosovo was temporarily entrusted by the United Nations.

Losses-The war killed more than 2,000 innocent civilians, injured more than 6,000 people, displaced nearly 1 million people, and lost more than 2 million people’s livelihood, resulting in economic losses of more than 200 billion US dollars to Yugoslavia. According to statistics, NATO troops used at least 31,000 depleted uranium bombs, which led to a sharp increase in the incidence of cancer and leukemia in this region and had a long-term disastrous impact on the local and European ecological environment.

Voice-German writer Michael Luders once wrote in his book that after the Kosovo War in 1999, NATO went beyond the principle of collective self-defense and launched a military operation against Yugoslavia, causing civilian casualties in the name of humanitarianism. This shows that in the eyes of the United States and the European Union, human rights are only a secondary concern, especially when human rights standards are only applied to non-allies.

On February 19, 2008, in the center of Belgrade, the capital of Serbia, pedestrians walked past a building destroyed by air strikes during the Kosovo war. Xinhua News Agency reporter Wu Xiaoling photo

Afghanistan War

Overview-After the September 11th terrorist attacks in 2001, the United States and its allies launched a military strike against Afghanistan in early October of that year on the grounds that the Taliban in Afghanistan refused to hand over Osama bin Laden, the leader of Al Qaeda, and quickly overthrew the Taliban regime and stationed troops for a long time. On August 30, 2021, local time, the last US military transport plane took off from Kabul International Airport. This "longest war in American history" ended in the sudden withdrawal of the US military.

Losses-According to statistics, 47,245 Afghan civilians and 66,000 to 69,000 Afghan soldiers and policemen unrelated to the "September 11th" incident were killed and more than 10 million people were displaced. The United Nations World Food Program warned in 2021 that about 98% of Afghans do not have enough food, and Afghanistan is facing "avalanche hunger and poverty".

During the war, U.S. warplanes bloodbath Laccagni village in Panjiwai district of Kandahar province and launched air strikes against it, killing 63 villagers, including a family of 17 people, and injuring dozens. The day before the complete withdrawal from Afghanistan, the U.S. military fired missiles at a white car parked in the courtyard of a family in Kabul, killing a family of ten people, including seven children.

Voice-"The killing of civilians, including children, by the US military in air raids has exposed the hypocrisy of the so-called human rights defenders in the United States. The international community should condemn the US for trampling on human rights and bring the criminals to justice." A villager in Laccagni village expressed such anger.

On December 16, 2003, the US military patrolled Wardak province in central Afghanistan. The war in Afghanistan, which lasted for nearly 20 years, became the longest war in American history. Xinhua News Agency reporter Wang Lei photo

Iraq War

Overview-In March 2003, the United States and its western allies invaded Iraq, bypassing the UN Security Council, on the grounds that Iraq had weapons of mass destruction, despite the strong opposition of the international community. On August 18, 2010, the last US combat brigade left Iraq, marking the end of US military operations. On December 15, 2011, the United States officially announced the end of the US military mission in Iraq.

Loss-The war left the land that gave birth to the civilization of the two rivers riddled with holes, resulting in the death of about 200,000 to 250,000 civilians, of which more than 16,000 were directly killed by the US military. According to statistics, the total number of depleted uranium bombs exploded in Iraq exceeded 3,400 tons. Today, there are still about 25 million mines and other explosive remnants to be removed in Iraq. The Iraq war also broke the balance between the political forces in the Middle East after the Cold War, making the people’s livelihood in the region miserable and chaotic.

In November 2003, the Iraqi citizen Ala Karim Ahmed was arrested and imprisoned by the US military. In prison, American soldiers used police dogs, whips and shackles to force him to confess. According to Alla Karim Ahmed, at that time, the prison was often attacked by mortars from anti-American armed men. The US military could hide in bunkers, and the detainees had to resign themselves to fate. A shell landed in the prison, killing 37 people and injuring 104 others. In 2004, the photos of American soldiers abusing prisoners in Abu Ghraib prison in Iraq were exposed, which shocked the world.

Voice-The website of American Atlantic Monthly once published: "Americans never really understand the cost of war, but they continue to fight. Only Iraqi civilians know the geometry of the cost of war."

A citizen of Baghdad, the capital of Iraq, once said sadly: "The United States has set Iraq back for 100 years."

On April 14th, 2003, dozens of American Black Hawk and Apache helicopter gunships arrived in Kuwait to take off from the port of Kuwait City to reinforce the Iraqi front. Xinhua News Agency reporter Li Xiaoguo photo

[Syrian War]

Overview-When the civil war broke out in Syria in 2011, the United States and its western allies strongly supported the opposition armed forces and tried to overthrow the Syrian government. In September 2014, the United States initiated the formation of an international alliance to combat the extremist organization "Islamic State", expanded the scope of air strikes against the target of "Islamic State" from Iraq to Syria, and established several military bases in eastern Syria. Since 2017, the United States has launched an air strike against Syria on the grounds of "preventing the Syrian government from using chemical weapons."

Loss-From 2016 to 2019, there were 33,584 recorded civilians who died in the war in Syria. Among them, 3833 people were directly killed by the bombing of the United States-led Coalition forces, half of whom were women and children. According to the American public television network, the so-called "most accurate air strike in history" launched by the US military alone killed 1,600 Syrian civilians. The war has caused the people’s livelihood in Syria to wither. According to a survey conducted by the World Food Program in April 2020, about one-third of Syrians do not have enough food, and 87% of them have no savings.

Voice-Syrian political activist Wada Issa once said: "They (the United States) steal our resources here, create chaos and wreak havoc, and even have the nerve to call themselves the’ savior’ of the suffering Syrian people."

On September 1, 2016, several Syrian children sat in front of the Harjele refugee camp in the southern suburbs of Damascus, the Syrian capital. Xinhua News Agency reporter Yang Yushe

According to the data of the "War Cost" project of Watson Institute of Brown University in the United States, the total number of military and civilian deaths caused by the war launched by the United States in the "post-9.11 era" is as high as 929,000, and at least 38 million people have been displaced, and this is only a "very conservative estimate", and the actual number may be between 49 million and 60 million.

In addition to directly launching or participating in wars, the United States frequently interferes in other countries’ internal affairs by directly or indirectly supporting proxy war, inciting other countries’ civil wars, providing weapons and ammunition, and training anti-government armed forces, which seriously damages the social stability, public safety and healthy economic development of the countries concerned.

"The biggest source of chaos in the world", the United States deserves its name!

Editor-in-Chief: Gu Wanquan, Zhang Wu

Text Editor: Song Hui

Author: Xinhua News Agency client

What are the possibilities for the game industry in 2023?

Recently, the game industry has been warm and windy.

As the weather vane of the industry, the 2022 China Game Industry Annual Conference was held in Huangpu. The protection of minors in games has entered a new chapter, the long-term trend of going to sea has not changed, the value of games has been re-evaluated, and the game technology has brought resonance effect ………………………………………………………………………………………………………………

What are the possibilities of the game industry in 2023?

For the game industry, 2022 is difficult: whether the overall economic downturn, players’ willingness to pay, lack of capital confidence, and cold investment and financing, it has brought a lot of impact to the industry: many game projects have been dissolved or stopped, and the wave of layoffs has swept again.

The data shows that the domestic market sales revenue and user scale, self-developed game sales revenue and mobile game sales revenue all decreased year-on-year. After the obvious slowdown in 2021, the game user scale declined for the first time in the past 10 years, and the industrial development entered the era of stock market. "China’s game industry is in the stage of pressure storage", aiming at the game industry in 2022, "China Game Industry Report 2022" concluded.

* Actual sales revenue of China game market. Source: China Game Industry Report in 2022.

* The scale and growth rate of game users in China. Source: China Game Industry Report 2022.

However, despite the bleak data of the game industry in 2022, industry practitioners are still full of hope for the future. As Hong Xiao, CEO of Perfect World, said at the 2022 China Game Industry Annual Conference, "Many people feel quite pessimistic after reading the industry data in 2022, but no one said this word."

Recently, the 2022 China Game Industry Annual Conference was held in Huangpu, Guangzhou. According to Zhang Yijun, the first vice chairman of China Audio-visual and Digital Publishing Association, the number of participants exceeded 2,700, almost double that of previous years, and the scene was packed. He pointed out, "Through the current situation, we can feel what kind of development trend is in 2023. If everyone in this industry does not see hope and opportunities, this situation will not be formed." At the meeting, Gao Dawei, deputy general manager of Tencent’s digital public opinion department, also said with emotion, "Walking through various forums, I felt a surging enthusiasm, as if I heard the sound of the game super engine starting and roaring again."

After the "cold" 2022, major game companies have more expectations for 2023. "The bad news is exhausted, bottoming out", Tan Yanfeng, vice president of Shengqu Games, summed up his outlook for the future of the industry in eight words; Hong Xiao, CEO of Perfect World, pointed out that the game industry has entered the next stage, and there are still many values worthy of being dug deep by practitioners; Wu Shenghe, CEO of Zulong Entertainment, said that with the release of the version number, many game masterpieces are ready to go, and this year will be a year of fierce competition.

According to statistics, since the resumption of version number distribution last year, more than 180 domestic game version numbers have been distributed in two batches this year. In addition to large enterprises such as Tencent and Netease, many small and medium-sized manufacturers have also gained something. Among them, many game companies that have got the version number are eager to try, and are ready to make great efforts this year. For example, Tencent, which got the version number in January this year, has announced that it will set a file in February, and the number of reserved users in the whole network has exceeded 70 million; Netease survival shooting mobile game "Extraordinary Pioneer" started the "prism test" in January; Mihayou’s new work "Collapse: Xingyuan Railway" has also been opened for paid testing recently and is expected to go online in April; Zulong Entertainment’s new version of the love women game "In the Name of Shining" is also planned to be launched in China in the first half of the year …

In addition, the 2022 China Game Industry Report also revealed a more positive signal, "The game industry is expected to rebound after bottoming out from industry resources to users’ willingness and ability to consume.",and pointed out that insisting on high-quality and high-quality development, deepening the subdivision and differentiation of the track, and paying more attention to the user experience will become the focus of China’s game industry to break through the predicament and develop healthily.

In recent years, with the shrinking of the "blue ocean" of the domestic game market, going out has become a "compulsory question" for game companies. More and more companies take going out to sea as their key development strategy, and the number of game products going out to sea is increasing and the area of going out to sea is expanding.

At the same time, the achievements of domestic game companies in overseas markets are obvious to all. According to the data, in 2022, the actual sales revenue of China’s self-developed games in overseas markets was 17.346 billion US dollars, which was more than 4 times higher than that of 3.076 billion in 2014. According to Zhang Yijun, the first vice chairman of China Audio-visual and Digital Publishing Association and chairman of the Game Working Committee, the overseas income of self-developed games has exceeded 10 billion US dollars for four consecutive years, and it can also account for about one-third of the domestic market income. Such achievements show that domestic enterprises are doing well overseas, which is recognized by real money.

* Actual sales revenue and growth rate of China’s self-developed games in overseas markets. Source: China Game Industry Report 2022.

However, since 2022, the external unstable factors faced by games going out to sea have increased, such as changes in the international environment, changes in overseas laws and policies, overseas channels, and overseas tax issues. In the context of the decline in the scale of the global game market, the actual sales revenue of China’s self-developed games in overseas markets also declined for the first time in 2018, down 3.7% year-on-year. At the same time, as more and more domestic manufacturers flock to the sea track, the competition for going to sea becomes more and more fierce, the cost of buying continues to rise, the profit rate decreases, and the overseas game market has also "rolled" from the blue ocean to the red sea.

However, "the choice of game going out is irreversible". In the increasingly crowded overseas market, how should domestic game manufacturers tap the new amount and find the second growth curve?

Ao Ran, executive vice president and secretary general of China Audio-visual and Digital Publishing Association, pointed out that although China’s game enterprises will face more or less challenges in the process of going out to sea in 2022, the long-term positive trend has not changed. China’s games still have room for development in overseas markets, and there are development opportunities in some new fields. On the one hand, the emerging game markets in the Middle East, Africa, Southeast Asia, Latin China and other regions have great development potential, which is expected to become the growth point of’s game going out to sea. On the other hand, there are development opportunities for games going out to sea on the sub-track of IP-adapted games, casual games and other game products.

In addition, keywords such as localization, content innovation and long-term operation were constantly mentioned at the game going to sea and marketing forum on the 13th. "Although going out to sea is already the Red Sea, there are many difficulties, but it is still a super market with billions of users, and opportunities are always there." Dong Bin, deputy general manager of Glacier Network, said that if you always make good products, make good experiences and improve quality, you still have many opportunities to go out to sea.

Yin Tianming, vice president of Sanqi Mutual Entertainment Products, pointed out that domestic games have entered an era of striving for quality, innovation and quality in overseas markets. Enterprises going to sea must change from "picking fruits" to "planting good trees" and make efforts in three aspects: in-depth localization, product innovation and continuous change, and refined distribution and operation. Zhong Kunjie, deputy general manager of Xinghui Games, said that with the intensification of market competition, the importance of long-term operation of game products has increased sharply. To make the game run longer and the audience more stable, we should do a good job in content iteration, localization, deep layout and cross-promotion.

At the same time, as a cultural carrier, games also shoulder the important mission of spreading Chinese culture abroad in the process of going to sea. Zhang Yijun, the first vice president of China Audio-visual and Digital Publishing Association, said that the excellent games that have been successfully launched at present have absorbed a lot of Chinese traditional cultural elements, which have formed a very good communication role in foreign markets, and also provided help for how to expand overseas more accurately and effectively in the next step. Some enterprises point out that game products with unique cultural attributes can prolong the game viscosity of players in the game, attract users better and reduce the cost of user drainage. Combining with traditional culture and traditional festivals will be the future trend of game development.

"The era of earning money by going out to sea has passed." How will enterprises going out to sea grasp new growth points and face challenges in 2023? It is worth looking forward to.

The scientific and technological attributes are prominent, and the potential value still needs to be tapped.

Paying attention to the science and technology circle, it is not difficult to find that the recent scenery is not only ChatGPT, but also game technology.

At the annual meeting of the game industry in 2022, the scientific and technological attributes of games have received unprecedented attention. Whether it is a forum for game re-cognition, a forum for game+and technology resonance, the topic of technical value of games cannot be avoided.

Ao Ran, executive vice president and secretary general of China Audio-visual and Digital Publishing Association, pointed out that in recent years, the industry has gradually reached a consensus: as a compound cultural content product, games have both natural cultural attributes and profound scientific and technological attributes, and based on these two attributes, they are constantly enriching their economic attributes and becoming a driver to support the integration and development of digital technology and the real economy.

From the discussion in the industry, it can also be clearly seen that the scientific and technological attributes of games are promising in many other industrial fields, and have brought gratifying resonance effects, such as feeding back cutting-edge technologies as a perfect testing ground, "breaking the circle" to promote the integration of numbers and reality, and resonating with the construction of basic fields of science and technology, especially the construction of scientific and technological talents. Andy, vice president of Tencent Interactive Entertainment, said that with the accelerated development of digital and information technology, today’s video games are becoming a super digital scene, and the "culture" and "technology" attributes of the game industry have been demonstrated unprecedentedly.

According to the Research Report on Game Technology Capability and Technology Value, 62% of the respondents recognized the role of game technology in national technology innovation capability, 81% of the respondents agreed that games promoted the development of AI technology, 91.4% of the public researchers believed that game technology promoted the physical field, and 81% of the industry respondents recognized the talent supply and employment capacity of the game industry. At the same time, the report also puts forward two exciting prospects: first, in the future, games will guide more scientific and technological innovations to cross the "valley of death" and improve the survival rate of high and new technologies; Second, the game will become the basic environment to inspire more scientific and technological innovation and give birth to more "unexpected joy".

Undoubtedly,The scientific and technological attributes of the game have been further recognized and affirmed. As Aoran said, "As an important help to realize a strong country in science and technology, the value of the game has become increasingly prominent.".

Referring to how the game industry should better release the scientific and technological efficiency of games and bring more resonance effects in the future, Aoran put forward three key points: promoting innovative breakthroughs in cutting-edge technologies, helping the development of other social fields and strengthening the talent pool in the science and technology industry. Yang Fang, deputy director of Publicity Department of the Communist Party of China Publishing Bureau, also said that in the future, games should make new achievements in serving scientific and technological innovation, give full play to the role of game industry development in promoting scientific and technological progress, increase investment in cutting-edge technology research and development, speed up the breakthrough of key core technology innovation, make great efforts to promote scientific and technological innovation and help science and technology overcome difficulties. According to its disclosure, this year, Publicity Department of the Communist Party of China will implement the "Network Publishing Technology Innovation and Development Plan", focusing on promoting the breakthrough of the underlying technology of online games such as virtual reality, perceptual interaction, game engine and motion capture, and promoting the expansion and application of new formats such as metauniverse, digital twins and cloud games.

However, the potential value behind the game goes far beyond this.

The People’s Daily once wrote that games have become an industry of great significance to a country’s industrial layout and scientific and technological innovation, and its potential value deserves further attention and deep excavation. Many game companies also admitted at the annual meeting that the game industry has not really released its value in the digital economy, and it is the general trend to "reassess" the value of games.

"Through this annual meeting, you may have felt that games will become a starting point for many economic phenomena in the future. It has gone beyond the original inherent form of the game and started cross-domain and cross-border, which has a wide range of economic and social values. " Zhang Yijun, the first vice chairman of China Audio-visual and Digital Publishing Association and chairman of the Game Working Committee, said that game companies should focus on the overall development of the industry, explore the positive social value of games at multiple levels and dimensions, and help the game industry to use more diverse social benefits, making a unique contribution to the construction of a strong socialist cultural country and the implementation of the digital economy development strategy.

In view of the future development trend of the game industry, Aoran, executive vice president and secretary general of China Audio-visual and Digital Publishing Association, once concluded at the annual meeting that China’s game industry is an emerging force in the cultural field, and its future development will usher in greater opportunities.The game industry will take the road of independent innovation more firmly, tell the story of China more vividly, and integrate with technological innovation at a higher level.

The trough in 2022 has passed. Can the game industry see the "rainbow" in 2023? Let’s wait and see.

Produced by Nandu Big Data Research Institute

Network content ecological governance research center

Writing: Luo Yun

Source: 2022 China Game Industry Annual Conference and 2022 China Game Industry Report.

Lenovo-Shanghai Jiaotong University Joint Laboratory officially signed a contract to unveil, focusing on intelligent devices and artificial intelligence.

In addition to the two joint laboratories, at the signing ceremony, Dr. Wang Qianying, Vice President of Lenovo Group and General Manager of Technology Strategy and Innovation Platform of Lenovo Research Institute, said that at present, 15 sub-topics have been identified in the research cooperation between Lenovo and Jiaotong University. Other laboratories of Lenovo Research Institute, such as enterprise cloud computing and car computing laboratories, and other R&D departments of Lenovo, including intelligent equipment group and solution service business group, are also important participants in these research topics. The cooperation covers the schools of electronic information, mechanical power, artificial intelligence and chemical engineering of Jiaotong University. The subject is also very extensive, involving battery, chip and other component technologies, new materials such as aluminum and magnesium alloys, speech and large scene video processing, complex robot systems and DNA storage.