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海外科技行业专题报告：游戏全球化新世代，出海王者全面破局-20231106-国泰君安

出海步入全球化新阶段，三大竞争力构建出海引擎，腾讯网易全球化战略提速再突破。摘要：投资建议：出海空间广阔步入新征程，龙头厂商全球化战略提速研运发力再突破。国内版号总量控制与市场增长放缓下，出海空间广阔细分市场及品类待探索，厂商依托 IP 优势、研发创新与全球发行实现突破，腾讯全球化游戏平台成形、IP 优势与全球化发行能力实现海外再突破，网易研运并举出海架构逐步搭建成熟、依托 IP 积淀与研发创

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