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Moonfox Analysis | Revenue Increases for Three Consecutive Quarters: What Is Driving the Revival of Growth in the Global Gaming Market?

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About us: Aurora Mobile (NASDAQ: JG) established in 2011, is a leading customer engagement and marketing technology service provider in China. Its business includes notification services, marketing growth, development tools, and data products. As its sub-brand, MoonFox Data is a leading expert in data insights and analysis services across all scenarios, aiming to help companies gain market insights and empower precise decision-making.

SHENZHEN, China, Dec. 17, 2024 /PRNewswire/ — According to data from the Game Publishing Working Committee, China’s gaming market achieved actual sales revenue of RMB 91.77 billion between July and September 2024, reflecting a year-over-year growth of approximately 9.0%. Of this, the mobile gaming market generated RMB 65.66 billion, showing a 1.2% increase year-over-year. Mobile games continue to play a significant role in the Chinese gaming market, with the launch of new titles like Naraka: Bladepoint and Dungeon & Fighter: Origin providing a notable boost to domestic sales.

At the same time, the global market remains a key focus for Chinese gaming companies in their expansion efforts. As experienced players in global markets, how have the exports of the gaming industry performed? What are the development trends for leading products?

I. Global Market Returns to Growth: Black Myth: Wukong Reaches Global Audiences and Drives Revenue Growth

Actual Sales Revenue of Chinese Self-developed Games in global Markets (Q3 2023 – Q3 2024)

Quarter 

Sales Revenue (USD 100 Million) 

QoQ Growth Rate (%) 

2023 Q3

42.8

2023 Q4

38.8

-9.4 %

2024 Q1

40.8

5.0 %

2024 Q2

44.8

9.9 %

2024 Q3

51.7

15.4 %

 

Data Source: Game Publishing Working Committee of the China Audio-Video and Digital Publishing Association (hereinafter referred to as “Game Publishing Working Committee”) 

Data Cycle: July 2023 – September 2024

In terms of market size, Chinese self-developed games have increasingly influenced global markets, with sales revenue continuing to grow. According to data from the Game Publishing Working Committee, actual sales revenue from Chinese self-developed games in the global market reached USD 5.169 billion in Q3 2024, marking a year-over-year growth of 20.8% and a quarter-over-quarter increase of 15.4%. Since the end of 2023, revenue from gaming exports has entered a rapid growth phase.

The heightened growth rate in Q3 2024 was partly driven by the booming gaming console market, with Black Myth: Wukong making a significant impact. It is estimated that within the first month of its release on August 20, 2024, the game sold over 20 million copies and generated more than USD 960 million in revenue, setting a new domestic sales record for AAA games.

In China, Black Myth: Wukong significantly raised public awareness of the product, receiving praise from major media outlets such as People’s Daily and Xinhua News Agency, which highlighted its positive impact on cultural dissemination. From a cultural tourism perspective, the game features over 27 scenic spots in Shanxi, including Qianfo Temple (also known as “Xiaoxitian”), Yungang Grottoes, and Huayan Temple, which spiked interest in travel routes like “Destiny People – Shanxi Tourism.” During Q3, bookings for accommodations in Shanxi’s national-level tourism resorts surged by over 200%, with more than 70% of visitors belonging to the ’80s and ’90s generations.

In the consumer market, on August 16, 2024, Luckin Coffee released a co-branded teaser poster for “Where is the road (deer)?” followed by a product acquisition guide on the 18th. On August 19, the co-branded product “Tengyun Cuisine” was launched. According to MoonFox Data, this product launch significantly increased customer unique visitors (UV), with the UV index surpassing July’s average by about 40% on the same day.

Globally, the success of Black Myth: Wukong allowed many international players to gain a deeper understanding of the Journey to the West IP. Viewership of the 1986 TV series Journey to the West on platforms like YouTube surged, and some players began summarizing the storylines and characters in quick-reference formats of “text + illustration,” enabling others to familiarize themselves with the game’s background in just 30 minutes. Additionally, characters and narratives from Journey to the West began attracting more attention from international players. In the future, more traditional Chinese cultural content could be introduced globally through games and similar media. Black Myth: Wukong has successfully pioneered this path, providing a new reference point for the international expansion of Chinese games.

II. Whiteout Survival Maintains Top Rankings: New Games Continue to Demonstrate Strong Market Performance

While the gaming console market is experiencing accelerated growth, it remains relatively small compared to the overall scale of mobile games, which continue to be the core focus for global gaming exports. In the domestic market, mobile games account for over 70% of the total global sales revenue for self-developed Chinese games, and this share continues to rise year by year. Many new games are steadily increasing their revenue, with gameplay and genre integration emerging as key strategies for customer acquisition in the current mobile game market.

November 2023 – October 2024: Whiteout Survival Top 3 global Revenue Countries

Country

Proportion

Total Revenue

United States

32.31 %

268,746,584

South Korea

13.38 %

111,317,981

Japan

10.04 %

83,501,136

 

Data Source: MoonFox iApp;

Data Cycle: November 2023 – October 2024

Whiteout Survival consistently ranks at the top for revenue growth. According to MoonFox Data, by October 2024, the game reached 7.064 million downloads, reflecting a month-over-month increase of 9.3%. During the same period, its revenue exceeded USD 108 million, with a month-over-month growth of 8.9%. As a simulation game (SLG), Whiteout Survival leverages China’s strengths in the genre. The game builds on traditional 4X heavy strategy gameplay while incorporating lighter mechanics, such as idle and simulation-based elements.

In terms of user acquisition strategy, Whiteout Survival has selected Facebook as its primary platform, utilizing its snow-themed content for marketing. This rich experience in user acquisition has further propelled the game’s growth, boosting both revenue and downloads.

Regarding market share, the United States is the game’s largest market, accounting for nearly 30% of its revenue. Excluding mainland China, Japan and South Korea are the second and third-largest markets, each contributing around 10%. Due to the high average revenue per user (ARPU) in the U.S., it remains a primary target market for mid-to-heavy games. While South Korea and Japan also have high user willingness to pay, their market players tend to have clearer genre preferences, resulting in relatively smaller shares.

Looking ahead, Whiteout Survival is expected to expand further into markets such as Saudi Arabia, Germany, and other regions in the Middle East, North Africa, and Europe, driving additional user growth.

November 2023 – October 2024: PUBG Mobile Top 3 global Revenue Countries

Country

Proportion

Total Revenue

United States

7.38 %

81,619,206

Saudi Arabia

2.57 %

28,435,212

Japan

2.05 %

22,637,083

 

Data Source: MoonFox iApp;

Data Cycle: November 2023 – October 2024

PUBG Mobile has recently experienced slower monthly revenue growth but remains among the top three global games. According to MoonFox Data, by October 2024, the game reached 6.85 million downloads, reflecting a year-over-year decrease of 5.3%. During the same period, its revenue reached USD 89.34 million, marking a year-over-year growth of 4.7%. As an older title, PUBG Mobile now faces challenges in generating large-scale revenue growth in mature markets. The game has fully developed major population markets like Indonesia and Turkey, and its current download volumes are maintained in the 400K to 600K range. As the market matures, revenue and download growth for top games are expected to slow further. To drive continued revenue growth, battle royale and FPS games will need innovative gameplay or IP collaborations.

Additionally, several new games have entered the Top 30 rankings, with some experiencing exponential revenue growth. For example, Fishing Master, developed by Ark Game, launched internationally in August and achieved nearly USD 5 million in revenue by October. Taiwan, Japan, and the United States were the major contributors to its revenue, with the U.S. market accounting for nearly 30% of total downloads. Given its revenue situation, the game has not yet achieved significant promotion or user monetization in the U.S., indicating potential for further growth in this market.

In general, new games continue to drive steady growth in China’s gaming exports, and the global market remains vast, with regions like Latin America and the Middle East/North Africa offering significant development opportunities. However, the gaming industry faces challenges such as gameplay stagnation, fixed genre models, and homogeneous user acquisition strategies. Players’ online time is increasingly being diverted by other forms of entertainment, with platforms like TikTok and Kwai emerging as major competitors for gaming products.

In light of these challenges, innovation in gameplay and presentation is crucial. Game companies should focus on emerging areas such as mini-games, cloud gaming, and Web3-based blockchain games, as these trends hold significant potential for driving the next wave of growth in the gaming industry.

Our Information:

Website: https://www.moonfox.cn/
Contact number: 400-888-0936

Contact us:

Name: Felix
Title: Director of Sales, Industry Insight Division
Tel: +86 -13366276383
Email: zhouzt@jiguang.cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

Name: Janette Zhou
Title: Marketing Manager
Tel: +86-13928239332
Email: zhouxt@jiguang.cn
Address: 608/F, Tower B, Wintrust Center, No. 1 Xidawang Road, Chaoyang District, Beijing, China

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SOURCE Aurora Mobile Ltd

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Finloop Becomes Industry Pioneer in HKMA’s EnsembleTX, Exploring Compliant Tokenisation Applications

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HONG KONG, Nov. 3, 2026 /PRNewswire/ — Finloop Finance Technology Holding Limited (“Finloop”), an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform, today announced that it has become an industry pioneer in EnsembleTX, launched by Hong Kong Monetary Authority (HKMA), to explore faster, more transparent, and more efficient settlement of real-value tokenised transactions.

HKMA launched the Project Ensemble sandbox in August 2024 to accelerate adoption of tokenisation. In November 2025, it introduced EnsembleTX, marking the commencement of the pilot phase of Project Ensemble. This represented a significant advancement in enabling real-value transactions involving tokenised deposits and digital assets within a controlled pilot environment. In its initial phase, EnsembleTX focuses on empowering market participants to utilise tokenised deposits in tokenised money market fund transactions, and to manage liquidity and treasury needs in real time. Moving forward, EnsembleTX will further support the interbank settlement of tokenised deposit transactions in tokenised Central Bank Money (CeBM) on a 24/7 basis. 

Finloop has built FinRWA Platform (FRP), Asia’s first one-stop RWA (Real-World Asset) technology, issuance, and distribution platform. The platform supports multi-party participation across the full lifecycle of tokenisation, involving issuers, custodians, tokenisation agents, and other institutions. Finloop has achieved several industry breakthroughs in the tokenisation sector, including supporting the distribution of multi-currency tokenised funds and launching Hong Kong’s first technical solution for a unit trust tokenised fund. Finloop has also advanced RWA projects spanning cultural and creative IPs, gold mines, oil and gas fields, and automobiles, leveraging digital assets to empower the real economy. Its subsidiary is also an authorised distributor of the regulated Hong Kong dollar stablecoin HKDAP. Through its integration into the EnsembleTX, Finloop will draw on its technology solutions that bridge Web2 and Web3 to support the compliant and efficient issuance and distribution of tokenised assets among institutions.

Cai Hua, Chief Executive Officer of Finloop, said: “Finloop is honored to participate in the HKMA’s EnsembleTX. Hong Kong is at the forefront globally in the regulatory foresight and ecosystem development of digital assets and RWAs. Finloop will fully leverage its core strengths in tokenisation technology and institutional-grade wealth technology, actively follow the guidance of regulators, and work closely with tokenised deposit banks and other industry pioneers. We aim to provide institutional clients with a secure, compliant, transparent, and efficient trading experience for tokenised assets, and jointly expand Hong Kong’s tokenisation ecosystem.”

Looking ahead, Finloop plans to build on its practical experience in EnsembleTX to actively explore a broader range of compliant use cases, including tokenised money market funds, tokenised ETFs, tokenised private funds, tokenised notes, and related treasury management. It will continue to leverage its technological advantages in connecting Web2 and Web3 to drive the efficient issuance, distribution, trading, and settlement of relevant tokenised assets among institutions, further advancing the development of Hong Kong’s tokenisation ecosystem.

About Finloop Finance Technology Holding Limited

Finloop Finance Technology Holding Limited, along with its subsidiaries (collectively referred to as “Finloop”), is an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform located in Hong Kong. Finloop offers comprehensive wealth management products and technology solutions to various financial institutions. Its offerings include cash management, mutual funds, alternatives, structured products, bonds, insurance, and virtual assets. As a fintech leader in Asia during the Web3 wave, Finloop has focused on bridging physical and digital assets, developing a one-stop RWA technology, issuance and distribution platform to pioneer new growth pathways in the wealth management industry. For more information, visit www.finloop.hk and www.finlooprwa.com

Follow Finloop on LinkedIn and X for the latest updates. 

View original content:https://www.prnewswire.com/apac/news-releases/finloop-becomes-industry-pioneer-in-hkmas-ensembletx-exploring-compliant-tokenisation-applications-302927192.html

SOURCE Finloop Finance Technology Holding Limited

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Xinhua Silk Road: Foreign journalists explore Yuhang’s innovation-driven development

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BEIJING, Nov. 3, 2026 /PRNewswire/ — Journalists from South Korean, Turkish, U.S. and Cuban media outlets visited several hi-tech companies and modern agricultural demonstration parks in Yuhang District, Hangzhou, on October 26-28.

Through site visits and hands-on experiences, they gained firsthand insights into Yuhang’s progress in integrating technological and industrial innovation.

They began their tour at Scantech, a leading comprehensive 3D solutions provider, where they explored and experienced 3D visual digitization technologies on October 26.

After trying out a 3D scanner, Isaura Diez, a journalist with Cuba’s Prensa Latina news agency, said this was her first time using a scanner, and was deeply impressed by both the device and the technology behind it. What particularly impressed her were its wide-ranging applications, including in the medical and industrial fields, she added.

On October 27, the group visited RoboCT Technology, a national high-tech enterprise dedicated to the development and application of exoskeleton robotics, to learn about the research, development and practical applications of exoskeleton robots.

At RoboCT, they learned how exoskeletons help patients with lower-limb impairments from spinal cord injuries and strokes stand and walk again, and saw brain-computer interface technology enabling thought-controlled rehabilitation.

After trying on the GoGo-H Pro exoskeleton, a reporter from Turkish newspaper Aydinlik praised the equipment for its incredibly light weight. It felt just like a part of my own body, he said, adding that what impressed him was experiencing firsthand how China’s advanced technologies are being used to improve people’s lives.

At Xynova, a leading supplier of key components in the humanoid robotics sector, Dan Sandoval, a contract photographer of the Associated Press, put on its high-DoF dexterous hand product Flex 2. He said the product could perform all the movements that a human hand can make and he hoped to see it applied in an increasingly wide range of scenarios in the future.

The journalists later visited the Qianxi eco-friendly agricultural demonstration park in Jingshan Town. There, they learned how digital rice seedling cultivation and AI-powered management systems are being applied throughout the entire rice production process.

As Hangzhou’s new urban center, Yuhang is advancing technological and industrial integration, driving momentum in the digital economy, cutting-edge technologies, urban-rural development and rural revitalization. 

Original link: https://en.imsilkroad.com/p/352790.html

SOURCE Xinhua Silk Road

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Oracle Announces Pricing of $20 Billion of Common Stock and Senior Notes

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AUSTIN, Texas, Nov. 2, 2026 /PRNewswire/ — Oracle Corporation (NYSE: ORCL) today announced the pricing of concurrent underwritten public offerings of 86,206,897 shares of its common stock, par value $0.01 per share, at a public offering price of $116.00 per share (the “common stock offering”) and $2,000,000,000 of its 7.000% notes due 2029, $1,750,000,000 of its 7.450% notes due 2031, $2,250,000,000 of its 7.850% notes due 2033, $2,500,000,000 of its 8.000% notes due 2037 and $1,500,000,000 of its 8.650% notes due 2046 (the “notes offering” and, together with the common stock offering, the “offerings”).

Each of the offerings is expected to close on November 4, 2026, subject to customary closing conditions. The completion of the common stock offering is not contingent on the completion of the notes offering, and the completion of the notes offering is not contingent on the completion of the common stock offering.

The net proceeds from the common stock offering will be approximately $9.9 billion, after deducting the underwriting discounts and Oracle’s estimated offering expenses. The net proceeds from the notes offering will be approximately $10.0 billion, after deducting the underwriting discounts and Oracle’s estimated offering expenses.

The net proceeds of the offerings, if completed, will be used for general corporate purposes, which may include capital expenditures, repayment of indebtedness, future investments or acquisitions and payment of cash dividends on or repurchases of our common stock.

BofA Securities is acting as sole global coordinator of the offerings. Wells Fargo Securities, Citigroup, BNP PARIBAS, Deutsche Bank Securities, J.P. Morgan, PNC Capital Markets LLC, Goldman Sachs & Co. LLC, HSBC and SMBC Nikko are acting as joint book-running managers of the offerings. BTIG is a joint book-running manager of the common stock offering. U.S. Bancorp is a joint book-running manager of the notes offering. Lloyds Securities is a joint book-running manager of the notes offering and a co-manager of the common stock offering. Intesa Sanpaolo, Mizuho, MUFG, TD Securities, Santander, BNY Capital Markets, CIBC Capital Markets and ING are acting as co-managers of the offerings. Standard Chartered Bank is a co-manager of the notes offering.

Registration Statement and Prospectus

Oracle has filed a registration statement on Form S-3 (including a prospectus) with the Securities and Exchange Commission (“SEC”) for the offerings to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents Oracle has filed with the SEC for more complete information about Oracle and the offerings. The offerings may be made only by means of a prospectus supplement and accompanying prospectus. Copies of the registration statement, preliminary prospectus supplement and accompanying prospectus related to each of the offerings can be obtained by visiting the SEC’s website at https://www.sec.gov or by contacting BofA Securities, Inc., Telephone: 1-800-294-1322.

This press release does not constitute an offer to sell or a solicitation of an offer to buy these securities, nor does it constitute an offer, solicitation or sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration and qualification under the securities laws of such state or jurisdiction.

About Oracle

Oracle offers integrated suites of applications plus secure, autonomous infrastructure in the Oracle Cloud.

“Safe Harbor” Statement: Statements in this press release relating to the anticipated use of the net proceeds from the offerings; our ability to complete the offerings on the anticipated timeline or at all; and other characterizations of future events and circumstances are “forward-looking statements” and are subject to material risks and uncertainties. All information set forth in this press release is current as of November 2, 2026. Oracle undertakes no duty to update any statement in light of new information or future events.

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SOURCE Oracle

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