The third-quarter reports of A-share gaming companies have been fully disclosed, with the 26 companies classified under the Shenwan gaming industry collectively achieving revenue of RMB 30.362 billion and net profit attributable to shareholders of RMB 5.777 billion in Q3 2025.
ST Huatong, 37 Interactive Entertainment, G-bits Network Technology, and Giant Network were among the top performers in Q3. Notably, G-bits and Giant Network reported year-on-year revenue growth exceeding 100%.
For the first three quarters, ST Huatong and 37 Interactive Entertainment significantly outperformed other A-share gaming companies in both revenue and net profit. However, Kunlun Tech, ST Kevin, and *ST Dasheng were among seven companies that reported net losses during the same period.
**Q3 Net Profit Totals RMB 5.777 Billion** According to Wind data, the 26 A-share gaming companies under the Shenwan classification achieved combined revenue of RMB 30.362 billion and net profit of RMB 5.777 billion in Q3 2025.
ST Huatong led with Q3 revenue of RMB 10.016 billion, up 60.19% year-on-year, far surpassing its peers. 37 Interactive Entertainment, Kunlun Tech, G-bits, Perfect World, and Giant Network also reported quarterly revenues exceeding RMB 1.5 billion.
In terms of profitability, ST Huatong’s Q3 net profit reached RMB 1.701 billion, topping the industry. 37 Interactive Entertainment, Giant Network, Kingnet Network, and G-bits each reported net profits exceeding RMB 500 million.
**Performance Divergence Among Gaming Companies** While G-bits and Giant Network saw Q3 revenue surge over 100% year-on-year, Dianhun Network, Yaoji Technology, and Glacier Network experienced declines exceeding 20%.
G-bits attributed its growth to the strong performance of its newly launched game *Staff & Sword Legend*, which generated RMB 1.166 billion and RMB 478 million in revenue for its domestic and international versions, respectively, from January to September. According to data.ai, the domestic version of *Staff & Sword Legend*, released in May 2025, remained in the top 50 of China’s iOS game bestseller list as of November 11.
Giant Network’s growth was driven by its game *Supernatural Action Group*, which climbed steadily in China’s iOS game bestseller rankings.
**ST Huatong and 37 Interactive Lead in First Three Quarters** For the first nine months, ST Huatong and 37 Interactive Entertainment reported revenues exceeding RMB 10 billion and net profits surpassing RMB 2 billion, significantly outpacing competitors.
ST Huatong’s 2025 interim report highlighted its three business segments: internet gaming, AI cloud data, and auto parts manufacturing. Its gaming subsidiaries, including Century Games, DianDian Interactive, Shengqu Games, and Tianyou Software, have launched hits such as *Whiteout Survival*, *Kingshot*, and *Endless Winter*, driving substantial growth. Data.ai ranked DianDian Interactive as the top Chinese gaming publisher in overseas revenue for September.
ST Huatong announced that its stock will no longer carry the "ST" risk warning starting November 12, 2025, reverting to its original name, Century Huatong.
37 Interactive Entertainment reported a net profit of RMB 2.345 billion for the first three quarters, up 23.57% year-on-year. The company attributed growth to refined long-term operations of existing products and strong performances from new releases like *Time Explosion*, *Heroes Don’t Dodge*, and *Douluo Continent: Soul Hunting World*.
Meanwhile, Kunlun Tech, ST Kevin, and *ST Dasheng were among seven companies reporting net losses. Kunlun Tech’s net loss for the first three quarters widened to RMB 665 million, though it achieved a Q3 net profit of RMB 190 million, marking a turnaround from the previous year.
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