Wukong concept stock? Share price boost for Black Myth-related companies

Black Myth: Wukong is finally upon us. The “first Chinese AAA game” Black Myth: Wukong will be released on 20 August. Not only has most of the Chinese-language media, IGN China included, given it 10 out of 10, but Western reviews are also generally favourable about the Monkey King-themed action role-playing game. With a third of the team size and a development cycle not significantly longer than most AAA games, developer Game Science has delivered on the promise it made when the first teaser dropped in 2020. Most pundits agree that the game will have a huge and long-lasting impact on the games industry in China.

Commercially, the game has already done very well with its preorder, selling over 1.2 million within a month, and reaching over 400 million RMB (55.83 million USD). With even more registered interest, the game might be on course to see a historical sales number. On the Steam platform, preorders of the game reached number 1 on the weekly ranking (excluding free games and Steam Deck games) between 6 and 13 August. On Weibo, China’s Twitter-like platform, the topic “Black Myth: Wukong” (#黑神话悟空#) reached number 27 on the Hot Search list with 1.06 billion views. Another hashtag regarding the lift of the embargo on reviews reached number 32 with 19.26 million views.

The virality and preorder performance have in turn attracted investors. Share prices of related companies saw a boost. The game’s publisher Zhejiang Publishing’s share price hit the limit up on 12 June after the game shot to global number 1 in preorders soon after the preorder opened. Shenzhen Zesum Technology, who makes the exclusive co-branded controller for Black Myth, which sold out quickly, grew nearly 15% in the last 4 days. Investors in the game, such as Tencent and Huayi Brothers both saw some growth, with Huayi’s share prices rising 13% in a day on 15 August.

The wider impact of the game cannot yet be tracked as it has not been released yet. However, it is a long-awaited moment for industry-related people and gamers in China alike. Although it might be unwise to pile so much expectation and pressure on one game, which of course won’t be perfect, it is a boost of confidence for those who care about games and the Chinese video game industry. With the latest government directive trying to boost gaming as a way to increase consumption, it will be exciting to see what heights Black Myth and games made in China can reach.

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