External broker reports(aggregated public sources), CMB International

CMB International

External broker reports(aggregated public sources)

Incorporated in Hong Kong, supported by the mainland and targeting in global market, CMB International Capital Corporation Limited (“CMBI”) is an integrated financial institution providing comprehensive and professional services. As a wholly-owned subsidiary of China Merchants Bank ("CMB"), by leveraging on the Group’s synergy and coordination in domestic and overseas markets, as well as CMB’s strong resources and outstanding social reputation, CMBI and its subsidiaries have been actively implementing diversified business strategies and set up an overall layout of main business segments including Corporate Finance, Asset Management, Wealth Management, Global Markets and Structured Finance, etc. Adhering to the philosophy of “being clients oriented and increasing our own values by the way of creating value for clients”, CMBI endeavors to provide quality and integrated financial services to institutional, corporate and individual customers both domestic and overseas including Hong Kong IPO sponsorship and underwriting, share placement and rights issue for listed companies, financial advisors, bonds issuance services, asset management, direct investment, wealth management, equity sales and trading, etc.

Thematic (Sector/Industry)

<ul><li>China’s online game market revenue grew by 37.5% YoY to RMB28.6bn in Jul 2023, with growth further accelerating (May/Jun: +16.0/23.6% YoY), according to CNG.</li><li>The strong YoY growth was mainly due to the launch of new games and low-base effect.</li><li>Overseas revenue from China’s self-developed games also returned to positive growth track in July (+7.6% YoY), thanks to the solid performance of Tencent’s and NetEase’s overseas mobile games. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China’s online game market revenue grew by 37.5% YoY to RMB28.6bn in Jul 2023, with growth further accelerating (May/Jun: +16.0/23.6% YoY), according to CNG.The strong YoY growth was mainly due to the launch of new games and low-base effect.Overseas revenue from China’s self-developed games also returned to positive growth track in July (+7.6% YoY), thanks to the solid performance of Tencent’s and NetEase’s overseas mobile games. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – July online game market recap

Articles from Caixin Global, Caixin Global

Caixin Global

Articles from Caixin Global

Caixin is a media group dedicated to providing financial and business news through periodicals, online content, mobile apps, conferences, books and TV/video programs. Caixin aims to blaze a trail that helps traditional media prosper in the new media age through integrated multimedia platforms.

News from Caixin

E-commerce platforms worldwide, including Chinese-owned fast-fashion rivals Shein and Temu, are embracing a novel business model that offers merchants the advantages of selling their goods overseas at a lower cost and higher convenience.
And mainland-based companies stand to benefit as the platforms come in search of reliable suppliers in China’s manufacturing hubs.
The model, known in China as the “full-service consignment model,” (全托管模式) sees online platforms take care of nearly all aspects of the selling process from setting the price of products and storing them to marketing, processing orders, and delivery.

E-commerce platforms worldwide, including Chinese-owned fast-fashion rivals Shein and Temu, are embracing a novel business model that offers merchants the advantages of selling their goods overseas at a lower cost and higher convenience.
And mainland-based companies stand to benefit as the platforms come in search of reliable suppliers in China’s manufacturing hubs.
The model, known in China as the “full-service consignment model,” (全托管模式) sees online platforms take care of nearly all aspects of the selling process from setting the price of products and storing them to marketing, processing orders, and delivery.

E-Commerce Giants Rush to Roll Out ‘Full-Service’ Business Model

<ul><li>China online game market revenue decreased 2.4% YoY but grew 22% HoH to RMB144.3bn in 1H23, according to GPC</li><li>Supported by the recovery of game supply and paying willingness, online game market revenue returned to positive growth track and was up by 12% YoY in 2Q23, with a 2-year CAGR of 2%.</li><li>We expect China online game market to maintain steady growth momentum in 2H23E, mainly due to the launch of quality new games YTD and the low-base effect. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China online game market revenue decreased 2.4% YoY but grew 22% HoH to RMB144.3bn in 1H23, according to GPCSupported by the recovery of game supply and paying willingness, online game market revenue returned to positive growth track and was up by 12% YoY in 2Q23, with a 2-year CAGR of 2%.We expect China online game market to maintain steady growth momentum in 2H23E, mainly due to the launch of quality new games YTD and the low-base effect. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

China Internet – Online game sector: rebounded in 2Q23

Cross Asset Strategy

<ul><li>Tencent /In Depth: WeChat’s short video e-commerce drive suffers from a lack of customers</li><li>Climate /: Former U.S. Treasury head urges Beijing and Washington to unite and tackle climate change</li><li>Leverage /Charts of the Day: China’s household, overall debt-to-GDP ratios rise to a record</li></ul>

Tencent /In Depth: WeChat’s short video e-commerce drive suffers from a lack of customersClimate /: Former U.S. Treasury head urges Beijing and Washington to unite and tackle climate changeLeverage /Charts of the Day: China’s household, overall debt-to-GDP ratios rise to a record

CX Daily: WeChat’s Short Video E-Commerce Drive Suffers From a Lack of Customers

<ul><li>Investment firm Temasek International Pte. Ltd. will keep a close eye on the long-term prospects of generative artificial intelligence (AI) in China, but will hold off on investing in mainland-listed stocks in the industry given their lack of fundamentals, the company’s China president said.</li><li>The state-owned Singaporean firm hasn’t made a single investment on the mainland in artificial-intelligence generated content (AIGC) stocks, a term commonly used for shares related to generative AI, Wu Yibing told Caixin in an interview on July 13.</li><li>Fueled by the success of ChatGPT, AIGC concept stocks have rallied this year, making them one of the few segments in China’s sluggish domestic market that have experienced significant growth.</li></ul>

Investment firm Temasek International Pte. Ltd. will keep a close eye on the long-term prospects of generative artificial intelligence (AI) in China, but will hold off on investing in mainland-listed stocks in the industry given their lack of fundamentals, the company’s China president said.The state-owned Singaporean firm hasn’t made a single investment on the mainland in artificial-intelligence generated content (AIGC) stocks, a term commonly used for shares related to generative AI, Wu Yibing told Caixin in an interview on July 13.Fueled by the success of ChatGPT, AIGC concept stocks have rallied this year, making them one of the few segments in China’s sluggish domestic market that have experienced significant growth.

Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now

China

Tencent Holdings Ltd. is a Chinese multinational technology and entertainment conglomerate. It provides a wide range of internet-related services and products, including social communication platforms like Weixin/WeChat and QQ, online games, digital content, and fintech services. The company was founded in 1998 and is headquartered in Shenzhen, China.

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Tencent (700 HK)

China Internet – July online game market recap

China’s online game market revenue grew by 37.5% YoY to RMB28.6bn in Jul 2023, with growth further accelerating (May/Jun: +16.0/23.6% YoY),...

CMB International

E-Commerce Giants Rush to Roll Out ‘Full-Service’ Business Model

E-commerce platforms worldwide, including Chinese-owned fast-fashion rivals Shein and Temu, are embracing a novel business model that offers...

Caixin Global

China Internet – Online game sector: rebounded in 2Q23

Supported by the recovery of game supply and paying willingness, online game market revenue returned to positive growth track and was up by 12% YoY...

CMB International

CX Daily: WeChat’s Short Video E-Commerce Drive Suffers From a Lack of Customers

Tencent /In Depth: WeChat’s short video e-commerce drive suffers from a lack of customers Climate /: Former U.S. Treasury head urges Beijing and...

Caixin Global

Why Temasek Is Steering Clear of China’s Generative AI Stock Frenzy for Now

Investment firm Temasek International Pte. Ltd. will keep a close eye on the long-term prospects of generative artificial intelligence (AI) in...

Caixin Global

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