CITIC Securities: March version approvals remain stable, and game genres are becoming increasingly diverse

MetaMuskRat · 2026-03-27T04:58:39+00:00

CITIC Securities research report indicates that in the first quarter of 2026, the issuance of game licenses remains stable, with mobile games dominating and casual puzzle games increasing in share. It is recommended to focus on leading companies with R&D capabilities and global deployment, as the industry’s mid-term prosperity remains steady.

MetaMuskRat

2026-03-27 04:58:39

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People’s Finance Information, March 27—A research report from Citic Securities says that in March 2026, the National Press and Publication Administration issued 133 game licenses (130 domestic and 3 imported). In the first quarter of 2026, a total of 467 licenses were issued (453 domestic and 14 imported). The pace of license issuance remains stable, and the supply side continues to maintain normalization. Structurally, mobile games remain dominant, the share of casual puzzle and puzzle-education products is increasing, and cross-platform expansion as well as new formats such as VR are continuing to be explored. Overall, head companies and smaller companies alike are steadily advancing their product pipelines, operating IP on a long-term basis. The industry’s mid-term outlook remains resilient; investors are advised to focus on leading companies with strong research, production, and operational capabilities and a global expansion strategy.

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