May 2026
📣 VC round data is live. Check it out!
Largest Gaming - Console & PC Public Companies in China
Benchmark revenue and EBITDA valuation multiples for public comps like
NetEase, Zhejiang Century Huatong, Oriental Pearl Group, Kingnet Network and Kingsoft.
 | Founded in the late 1990s as an internet portal, NetEase has evolved into China’s second-largest online gaming company. Its early success was anchored by the massively multiplayer online role-playing game Fantasy Westward Journey, which laid the foundation for a durable franchise strategy. Over the past decade, the company has expanded its portfolio with successful titles such as Justice, Identity V, Naraka: Bladepoint, and Eggy Party, all of which continue to maintain sizable and engaged player bases.In addition to its in-house development capabilities, NetEase partners with global IP holders such as Microsoft and Marvel to develop and publish titles based on established franchises, including World of Warcraft, Diablo Immortal, and Marvel Rivals, further strengthening its global presence. | $23 | -5% | $74B | $51B | 3.1x | 9.0x | ||
| Zhejiang Century Huatong Group Co Ltd is a China-based company engaged in three main businesses: Internet games, auto parts manufacturing, and artificial intelligence cloud data, as well as brain science research, artificial intelligence, metaverse platform and application development and investment. | $2 | -- | $15B | $14B | 2.5x | 11.6x | ||
| Oriental Pearl Group Co Ltd operates a media integration and distribution platform in China. The various business units of the company comprise Channel Products Operation, Video Shopping, and E-Commerce, Culture and Entertainment Themed Tourism, Mobile Transmissions and Video Games among others. | $2 | +58% | $6B | $4B | 4.1x | 14.2x | ||
| Kingnet Network Co Ltd is a Chinese-based online game company. The company's main business covers research and development as well as the operation and publishing of quality entertainment content, including mobile games, web games, and PC games. It also engages in the operation of web game platforms and mobile app distribution platforms. | $2 | +1% | $5B | $4B | 5.6x | 14.5x | ||
| Kingsoft Corp Ltd is a Chinese software and Internet services company. The company's operating segment includes entertainment software and others and office software and services. It generates maximum revenue from the entertainment software and others segment. The entertainment software and others segment is engaged in the research and development of games, and the provision of online games, mobile games and casual game services. Geographically, it derives a majority of revenue from Mainland China, and also has its presence in Hong Kong, and Other Countries. | $3 | -35% | $4B | ($243M) | (0.2x) | (0.5x) | ||
| XD Inc is engaged in the development, operation, publishing, and distribution of mobile and web games and the provision of information services in China and overseas. It also operates TapTap, a game community and platform in China. It has two operating segments. The game segment, which is the key revenue driver, offers game publishing and operating services on its own and via other distribution channels. Revenues from this segment are derived from game publishing and operating services. The TapTap platform segment offers online marketing services to game developers, game publishers, or their agents. Revenues from this segment are derived from performance-based online marketing services. Its geographic areas are Mainland China and Other areas. | $7 | +41% | $3B | $3B | 3.1x | 10.1x | ||
| Hangzhou Shunwang Technology Co Ltd develops and sells Internet entertainment networking platforms. It focuses mainly on internet cafe technology development. It offers IcafeMavin, a software platform for Internet café management; system virtual disk, an operating system solution for diskless Internet cafes; and Game virtual disk, a game virtual service software for Internet cafes, as well as other Internet café integration solutions. | $4 | +44% | $3B | $2B | 9.6x | 31.1x | ||
| Yoozoo Interactive Co Ltd is a game-based interactive entertainment company. The company implements the strategies of big data, globalization, and quality products to achieve integrated development across four major areas namely globalized game research and development and publishing, IP management, big data and intelligent technology, and pan-entertainment industry investment. It operates using a 'film-game integration' model to deliver a series of products such as films, games, cartoons, fiction, and commercial property, building a globalized ecosystem for the pan-entertainment industry. | $2 | -11% | $2B | $2B | 7.6x | (114.6x) | ||
| Alpha Group produces animated movies and television series as well as producing and distributing toys. It designs, develops, manufactures, and operates competitive toys, remote-controlled toys, and smart digital series and girl toy series. The company conducts its business in the Chinese and international markets. | $1 | -19% | $2B | $2B | 4.7x | 57.9x | ||
| Sichuan Xun You Network Technology Co Ltd is an online game accelerator. The company solves the problem that players encounter excessive delays in online games, difficulty in login, and easy to drop. | $5 | +79% | $1B | $971M | 23.0x | 159.7x | ||
| Guangxi Xinxunda Technology Group Co Ltd is engaged in Game software development, game operation and promotion, Internet performing arts and telecommunications business, etc. | $5 | +166% | $930M | $907M | 48.3x | (53.0x) | ||
| Shenzhen Bingchuan Network Co Ltd engages in the development and operation of integrated network online games. Its business activities include the development and sales of computer software and hardware; and provision of computer programming services. The company's products mainly are a personal computer (PC) online games, mobile games. | $3 | -25% | $913M | $623M | 1.7x | 7.9x | ||
| NetDragon Websoft Holdings Ltd is an investment holding company. Along with its subsidiaries, it operates in the following reportable segments: gaming and application services, the Mynd.ai business, and the property development business. Its gaming and application services segment, which generates maximum revenue, includes Internet and technology-enabled services, including gaming and software, and related or ancillary services. The mynd.ai business is mainly an overseas education business. Geographically, the group generates maximum revenue from Mainland China and the rest from the United States of America, Europe, and other regions. | $1 | -9% | $587M | $714M | 1.1x | 5.4x | ||
| Shenzhen Zqgame Network Co Ltd is an online gaming company. The company focuses on the development, distribution and operation of online games, especially mobile game products. It provides entertainment experiences across online, mobile, and tablet platforms for the hardcore gamer. | $2 | +58% | $574M | $585M | 21.7x | 465.6x | ||
| Hangzhou Electronic Soul Network Technology Co Ltd is an electronic gaming and multimedia company. It is the mainly engaged in the research and development and operation of online game products. The company's revenue is mainly derived from the end-game product Dream Three Kingdoms. | $2 | -28% | $527M | $356M | 6.3x | (79.6x) | ||
| GuangZhou Wahlap Technology Co Ltd is engaged in the design, research and development, production, sales, and operation of game entertainment equipment. | $3 | -37% | $403M | $408M | 2.8x | 14.6x | ||
| Sohu.com Ltd provides online media, games, and search products and services on PCs and mobile devices in China. The company operates in Sohu and Changyou segments. Sohu is an online media content and services provider. Through its social features, Sohu also enables users to generate and distribute content, as well as interact with each other on a platform. Changyou is an online game developer and operator. It generates maximum revenue from the Changyou segment. | $14 | +35% | $355M | ($440M) | (0.8x) | 14.1x | ||
| 7Road Holdings Ltd is a web-based and mobile online game developer and publisher in China. The company is engaged in the R&D, operation and licensing of several popular web games. It has developed games like DDTank, Chuanqi, and Wartune. | $0 | +100% | $203M | $156M | 2.0x | 11.5x | ||
| iDreamSky Technology Holdings Ltd operates a digital entertainment platform in the game publishing market in China. Its gaming portfolio includes role-playing games, endless running games, matching puzzle games and casual competition games among others. The company operates in one reportable segment: Game and information services segment. | $0 | -50% | $96M | $265M | 1.2x | (4.5x) | ||
| Median | $2 | -2% | $1B | $907M | 3.1x | 11.5x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
Recent Insights
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.