Gaming

A valuation of more than USD 1.5 billion could be enough for Alibaba to part with the gaming studio.

It may lack the gaming roots of Bilibili and HeyBox, but Xiaohongshu’s community dynamics can help smaller titles turn authenticity into attention.

Its strategy now spans indie publishing, platform-grown IP, and a broader slate of steadily advancing projects.

Some studios are betting on blockbuster ambitions, while others are sticking to lower-risk models that keep returns predictable.

Strong sales did not prevent the studio’s closure, underscoring the fragility of China’s game ecosystem.

Heavy investment is pushing the firm to make the case for AI in games, even as the earnings impact remains unclear.

The results did little to excite investors despite expanding margins.

The underlying economics of Shopee, Monee, and Garena may be behind the selloff.