CMB International: In November, the mainland mobile game market showed marginal improvement, with Tencent's revenue remaining stable

On December 5th, Jinshi Data reported that CMB International published a report, giving a leading rating to the mainland internet industry. Tencent Holdings (00700.HK) has shown steady growth in revenue, with a year-on-year increase of 13% in revenue from October to November. The revenue from "MDnF" is expected to rebound month-on-month in December, maintaining the expectation of accelerated growth in mobile game revenue for the fourth quarter. NetEase's domestic mobile game revenue decline has narrowed, and the impact of the high base is expected to gradually ease, which may drive marginal improvement in mobile game revenue for the fourth quarter, with a focus on the launch of key PC games boosting investor confidence. In November, the total revenue of the domestic leading mobile games tracked by the bank increased by 2% year-on-year, better than in October, mainly due to the gradual weakening of the high base effect