Ourpalm Co.
Beijing publisher that licenses anime and retro-game IP into mobile titles.
On the record
Checkpoint: Q2 2026 quarterly filing, showing whether the Q1 uptick holds or the five-year decline resumes
The call
A shrinking mid-tier publisher living off old licenses while bigger rivals and AI game-making tools both close in on the same audience.
Ourpalm makes and publishes mobile games in China, but its sales have dropped in half over five years and it lost money in 2025. It faces two big problems at once: giant competitors like Tencent and NetEase that are 24 times larger and new AI tools released in 2026 (like Google Genie and Meta Pocket) that let anyone create playable games by typing a description instead of hiring artists and programmers for months. The company is betting on an NVIDIA partnership to compete, but that deal has not made any money yet. If the NVIDIA AI tool starts earning real revenue in the next two years, or if even one quarter shows that sales are growing again instead of shrinking, the situation could improve. If instead the big competitors launch their own AI tools or if sales keep falling, Ourpalm will likely fade further.
Why
01
AI pressure: Google Genie 3, Anthropic Fable 5, Meta Pocket, Roblox Build. These tools let anyone turn a text prompt into a playable game, cutting the dev-and-publish work Ourpalm charges for. Could AI do the core job? Yes, likely.
02
Bigger players: Tencent, NetEase, 37 Interactive Entertainment. Revenue has fallen 52% over five years to CNY 706M while 37 Interactive alone runs about 24 times Ourpalm's revenue. Could a giant copy it? Yes, easily.
03
What protects it. Long-running licenses on recognizable IP (MU Online, King of Fighters, One Punch Man) and China's game-approval licensing system, which slows new entrants.
What would change this call
FY2026/FY2027 filings show any disclosed revenue from the NVIDIA/UMI AI Game Creation Platform. Would show Ourpalm's sole growth bet is actually monetizing.
Q2-Q3 2026 revenue growth sustains the Q1 2026 +14% YoY uptick for two more quarters. Would show the five-year revenue decline has genuinely stabilized, not just noise.
37 Interactive or Tencent publicly launches a competing AI-assisted game-publishing tool. Would show incumbents are closing Ourpalm's one differentiation angle.
Q2-Q3 2026 revenue growth sustains the Q1 2026 +14% YoY uptick for two more quarters. Would show the five-year revenue decline has genuinely stabilized, not just noise.
37 Interactive or Tencent publicly launches a competing AI-assisted game-publishing tool. Would show incumbents are closing Ourpalm's one differentiation angle.
Key numbers
- Revenue down 52% over 5 years, to CNY 706M in FY2025
- FY2025 net loss of about CNY 157M, after two profitable years
- Q1 2026 revenue CNY 184.84M, up 14.07% year over year
Named risks
- Five consecutive years of revenue decline (-52% cumulative 2021 to 2025) with no confirmed reversal.
- FY2025 swing to net loss (~-CNY157M) after two profitable years signals earnings volatility.
- AI Game Creation Platform with NVIDIA/UMI shows no disclosed revenue after roughly two years.
- Core IP portfolio (MU Online, KOF, One Punch Man) is licensed, not owned, subject to renewal risk.
- AI-native game generation tools (Genie 3, Fable 5, Pocket, Build) commoditize Ourpalm's asset-creation workflow.
Rivals, as read in July 2026
| Rival | Direction | Evidence |
|---|---|---|
| 37 Interactive Entertainment (Sanqi) | losing to | About $2.4B revenue and 3,249 employees vs Ourpalm's ~CNY706M revenue, Dec 2024 data |
| Tencent | losing to | Dominant incumbent giant in Chinese mobile gaming with no structural barrier against Ourpalm's segment |
| NetEase | losing to | Incumbent giant dwarfing Ourpalm's scale in the same domestic mobile game market |
| Google (Genie 3) | gaining on | Genie 3 world model announced 2026-01-30, generates playable games from text prompts |
| Meta (Pocket) | gaining on | Meta launched Pocket AI game creation app on 2026-07-07 |
| Roblox (Build) | gaining on | Roblox launched AI-powered mobile Build feature on 2026-07-16 |
Questions people ask
- Is Ourpalm profitable in 2026?
- No clear profitability. Ourpalm swung to a net loss of roughly CNY 157 million in FY2025 after two profitable years (CNY 187M in 2023, CNY 111M in 2024), per WSJ data dated 2026-02-06, while revenue kept shrinking.
- Could AI replace Ourpalm's game studio?
- Ourpalm's own NVIDIA/UMI AI Game Creation Platform, announced 2023-2024, has shown zero disclosed revenue impact through FY2025, while Google Genie 3 (Jan 2026), Meta Pocket (Jul 2026) and Roblox Build (Jul 2026) now commoditize the same asset-generation work Ourpalm does.
- Who is Ourpalm's biggest competitor?
- 37 Interactive Entertainment (Sanqi, SZSE:002555) is the closest peer, reporting about $2.4 billion revenue and 3,249 employees as of December 2024, roughly 24 times Ourpalm's approximately CNY 706 million FY2025 revenue.
- Is Ourpalm's revenue shrinking?
- Yes. Ourpalm's revenue fell from about CNY 1,472 million in 2021 to about CNY 706 million in 2025, a 52 percent cumulative decline over five straight years, per stockanalysis.com financial data.
- Who owns Ourpalm?
- Ourpalm is publicly traded on the Shenzhen Stock Exchange ChiNext board under ticker 300315, with no controlling parent identified. Market capitalization was roughly CNY 10.5 billion as of 2026-07-25 per GuruFocus.
- What is Ourpalm's AI strategy?
- Since late 2023/early 2024 Ourpalm has partnered with NVIDIA and UMI on an AI Game Creation Platform meant to let small teams build open-world games; NVIDIA showcased its footage at COMPUTEX 2024, but no revenue impact has been disclosed through FY2025.
Timeline
- 2026-07-16Roblox launches AI-powered 'Build' game creation feature in its mobile app
- 2026-07-07Meta launches 'Pocket', an AI game creation app
- 2026-05-19Q1 2026 revenue CNY 184.84M, up 14.07% YoY; TTM revenue CNY 728.85M
- 2026-04-10Wharton research finds AI collapsing game dev cycles from months to weeks
- 2026-02-06WSJ data shows Ourpalm FY2025 net loss of roughly CNY 157 million
- 2026-01-30Google announces Genie 3 world model for AI game generation
- 2024-06NVIDIA showcases OurPalm/UMI AI Game Creation Platform footage at COMPUTEX
- 2024-01NVIDIA announces it will supply AI tech (DLSS, Audio2Face) to OurPalm/UMI platform at CES
- 2012-05Ourpalm IPOs on SZSE ChiNext, China's first A-share listed mobile game company
- 2004-08Ourpalm founded in Beijing
Revision history
26 July 2026
First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.
In the same band
Sources
- Appointment of Steven Hu (2015-08-25)
- 300315) Financials & Income Statement
- 300315) Revenue (2026-05-19)
- Ourpalm Co. Ltd. Annual Income Statement - WSJ (2026-02-06)
- gurufocus.com (2026-07-25)
- OurPalm 2026 Company Profile (2026-07-25)
- Ourpalm Co. Ltd.
- ourpalm.com (2026-06-02)
- Plague global launch case study (2026-04-07)
- How Yoroll.ai is Building the First Engine-less Game Platform (2026-02-05)
- Anthropic's Fable 5 turns anyone into a game developer instantly
- Meta launches Pocket (2026-07-07)