miHoYo
45 documents in the library are about miHoYo, from writers such as Game World Observer, GameMakers and Naavik, the newest from 2026. Each has a summary and key insights with the page they come from.
miHoYo was founded in 2012 by 3 graduate students who dreamed of creating a top interactive anime company. miHoYo is tech-driven and armed with proprietary rendering technologies, with the slogan “tech otakus can save the world”. The company may provide you with various one-stop services including designing specific game software to meet your special interest, maintaining your game software, advising you on the game software/website, and so on.
- Founded
- 2012
- Country
- China
- Games
- Genshin Impact, Honkai: Star Rail, Zenless Zone Zero, Petit Planet, Saint Seiya: Galaxy Spirits, Guns GirlZ, FlyMe2theMoon
- Links
- Official site
Company data from IGDB.com
Key figures
Community-driven platforms like TapTap, which charge a 0% take rate, are becoming viable alternatives for major releases, as demonstrated by miHoYo’s successful launch of Genshin Impact.
Niko Partners, 2026 · Take Rates in China, p. 7
Genshin Impact developer miHoYo has reached a market valuation of $24.2 billion, ranking as the 48th most valuable private company in China as of late 2024.
Game World Observer, 2025 · Savvy Games Group in Talks to Acquire Developers of Mobile Legends: Bang Bang
While miHoYo has generated over $4 billion from Genshin Impact since 2020, the company has historically shown limited interest in the competitive esports scene.
The Esports Advocate, 2023 · miHoYo’s Honkai: Star Rail Sponsors Chinese Dota 2 Teams LGD Gaming and AR for The International
While significant, the game's daily record remains below the all-time highs of other miHoYo titles, such as Honkai: Star Rail ($11 million) and Genshin Impact ($15.5 million).
Game World Observer, 2024 · Zenless Zone Zero Hits Record Daily Mobile Revenue
NetEase ($912 million), Playrix ($873 million), and miHoYo ($764 million) rounded out the top five highest-grossing mobile publishers.
Game World Observer, 2024 · Tencent Leads Mobile Publishers by Revenue: H1 2024
Documents about miHoYo
From Disney to miHoYo: The Road Toward AI-Enabled Fandom
Major entertainment and gaming entities, including Disney, miHoYo, and Hasbro, are undergoing a strategic transition from the restrictive regulation of unauthorized AI content toward the development of proprietary, AI-enabled ecosystems.
- Major IP holders like Disney are shifting from aggressive enforcement against AI-generated content to building official, governed AI systems that allow fans to interact with characters while maintaining strict control over brand, canon, and commerce.
- Disney’s strategy for AI-enabled fandom involves a $1B investment in OpenAI and a focus on 'Behavioral Licensing,' where rights holders supply systems that govern how characters think, speak, and behave across third-party platforms.
- Meta has introduced Horizon Create and Horizon Studio, which allow users to generate playable 2D and 3D games from text prompts, leveraging its social ecosystem for instant distribution without requiring separate app installations.
China Flexes at Gamescom
The August 2026 Gamescom Opening Night Live showcase highlighted a significant shift in the global gaming landscape, characterized by the prominent presence of Chinese game studios.
- Chinese game studios dominated the GamesCom Opening Night Live showcase, featuring prominent reveals from developers like miHoYo, NetEase, TiGames, and Hoothanes.
- Major Chinese-led projects include miHoYo's dark fantasy co-op game 'Nodusfall', NetEase subsidiary Naked Rain's 'Ananta' (releasing January 15, 2027), and a remake of 'Heroes of Might and Magic III' led by Ubisoft’s Chengdu and Shanghai studios.
- Take-Two is pursuing a subpoena against YouTube and X to identify the source of 14 recent 'GTA VI' leaks, with plans to request personal information for members of targeted Discord groups.
China’s Big Bet on AI for Games
The Chinese gaming industry has transitioned from experimental AI usage to a systemic, industrial-scale integration of artificial intelligence across production pipelines and core gameplay.
- Chinese game studios are aggressively industrializing AI to combat rising costs and falling hit rates, with companies like 37 Interactive reporting that AI now produces over 80% of their 2D art and assists in over 70% of ad video creation.
- The gap between Western and Chinese development is widening as Chinese firms prioritize rapid execution over risk minimization, exemplified by 37 Interactive shipping an AI-native mini-game in 10 days—a project that would traditionally require six months.
- AI-driven game cloning has reached industrial scale, allowing developers to produce knockoffs in roughly one day, which forces indie studios to build deeper creative moats beyond just novel concepts to remain competitive.
Take Rates in China
The analysis evaluates how take-rate structures shape mobile game monetisation in China and whether higher-quality development can outweigh the pressure of traditional distribution fees.
- Chinese Android app stores, dominated by manufacturers like Huawei, Oppo, and Vivo, typically charge a 50% commission on in-app purchases, significantly higher than Apple’s 30% rate.
- Hardware manufacturers rely heavily on these high take rates for profitability; for example, Xiaomi reports a 64.7% gross profit margin on services compared to only 7.2% on hardware sales.
- While iOS users account for only 25% of the Chinese gaming population, they generate approximately 40% of total mobile game revenue.
Savvy Games Group in Talks to Acquire Developers of Mobile Legends: Bang Bang
ByteDance is currently in negotiations with Savvy Games Group regarding the potential sale of Moonton Studio, the developer behind the popular mobile title Mobile Legends: Bang Bang.
- ByteDance is in early-stage negotiations to sell Moonton Studio, the developer of Mobile Legends: Bang Bang, to Savvy Games Group.
- ByteDance originally acquired Moonton in 2021 for $4 billion and has previously considered selling the studio as part of a gaming division restructuring.
- Savvy Games Group CEO Brian Ward has publicly expressed interest in expanding into the Chinese gaming market, aligning with the potential acquisition of Moonton.
Global Top Mobile Games: April 2025
In April 2025 the global mobile gaming landscape was dominated by a mix of established franchises and fresh titles.
- Level Infinite’s 'Delta Force' launch on April 22 drove significant market activity with 25 million pre-registrations and an aggressive campaign utilizing nearly 20,000 deduplicated ad creatives.
- miHoYo’s 'Honkai: Star Rail' experienced a 145.5% month-over-month revenue surge in April 2025, generating over $27 million on a single platform during its second anniversary.
- Google Play revenue was led by 'Last War' at approximately $50 million, followed by established match-3 titles 'Royal Match' and 'Candy Crush Saga' at $36 million each.
Hurun China 500: Most Valuable Chinese Companies
The Hurun China 500 Most Valuable Private Companies 2024 provides a comprehensive ranking of the most significant non-state-controlled enterprises in China.
- miHoYo has entered the top 50 most valuable private Chinese companies, reaching a valuation of $24.2 billion as of November 2024.
- Tencent remains the most valuable gaming-related company in China at $473 billion, marking a 20% year-over-year increase.
- ByteDance holds the second position among gaming-related firms with a valuation of $225.4 billion, reflecting 16% growth.
Zenless Zone Zero Hits Record Daily Mobile Revenue
The release of the "A Storm of Falling Stars" update for miHoYo’s Zenless Zone Zero on December 18, 2024, triggered a significant surge in mobile player spending, resulting in a record-breaking daily net in-app purchase revenue of over $6 million.
- On December 18, 2024, the launch of patch 1.4 for Zenless Zone Zero drove a record daily mobile net revenue of over $6 million, representing a 2,098% increase from December 16.
- The $6 million daily revenue figure surpasses the game's previous record of $5.7 million set during its global launch on July 5, 2024.
- Between December 18 and 22, the game generated nearly $22 million in total mobile in-app purchase revenue.
Genshin Impact Tops $5 Billion in Revenue: China Market Analysis
Genshin Impact has achieved a significant financial milestone, surpassing $5 billion in lifetime gross mobile revenue within the Chinese market.
- Genshin Impact has surpassed $5 billion in lifetime gross mobile revenue in China, a figure that accounts for over 55% of the game's total global mobile earnings.
- The title is projected to reach $10 billion in total global player spending by 2025.
- Despite its long-term success, the game has experienced declining revenue over the past 12 months compared to its first three years on the market.
Game Review Radar #6: The sea of Unfortunate Sharkfins! Exploring Game Updates and Trends
The mobile gaming landscape is currently defined by a volatile cycle of rapid growth followed by sharp revenue and download declines, a phenomenon frequently described as the shark fin performance curve.
- Mobile game revenue often experiences sharp post-launch declines, exemplified by a hardcore RPG that dropped from $40 million in its first month to $6 million shortly thereafter.
- User acquisition (UA) remains a primary driver of success in the mobile market, as demonstrated by a top-10 4X game maintaining stability at approximately 70,000 daily downloads through consistent UA efforts.
- Star Wars Hunters maintains a consistent daily download rate of roughly 13,000 in the U.S., though it faces monetization challenges due to high ad-refresh rates that require filling up to 90 banners per user in markets like India.
The Rise of Chinese Gaming in 2024
The gaming industry in 2024 has witnessed a significant surge in the global influence of Chinese titles, extending well beyond the high-profile success of Black Myth: Wukong.
- Dungeon & Fighter: Origin has emerged as a top-tier revenue generator, frequently competing with Honor of Kings for the number one spot in worldwide mobile game revenue.
- Black Myth: Wukong maintains a dominant position as the top-earning game on the Steam platform.
- Tencent expanded the global reach of Honor of Kings in 2024, a title that has historically generated over $12 billion in net revenue and surpassed 350 million downloads.
TWIG #297 Gamescom Confidential, Why Steam ain't Blocked by China and the TRUTH about Tim Hortons
Gamescom 2024 underscored a pivotal shift in the global gaming landscape, characterized by the aggressive expansion of major Asian publishers like NetEase, miHoYo, and Tencent into Western markets.
- Asian publishers like NetEase, miHoYo, and Tencent are creating high competitive barriers in Western markets, with miHoYo investing $200 million annually into live-ops resources.
- New game titles are struggling to gain traction, currently capturing only 8% of total player time, while Steam wishlist-to-sale conversion rates have dropped as low as 5%.
- Black Myth: Wukong achieved record-breaking sales of 10 million units in three days, though its success remains heavily concentrated within the Chinese domestic market.