Investment Analysis of the Chinese Game Industry – A Case Study of miHoYo

China’s economy has experienced significant growth, presenting abundant opportunities in various sectors. Among these, the game industry has emerged as a promising investment avenue. This paper examines the application of value investment theory in the context of the Chinese game industry, with a detailed case study of miHoYo. The study employs established value assessment and risk management methods to analyze the development, competitive advantages, and potential risks associated with game companies. It reviews historical industry trends, current business models, profit structures, investment conditions, and the legal environment that shape market dynamics in China. By scrutinizing miHoYo’s evolution from a startup to a global enterprise, the research highlights key success factors, including technological innovation, robust intellectual property, and effective market expansion strategies. Moreover, the paper identifies challenges such as fierce market competition, technological bottlenecks, and regulatory uncertainties. In addition, this research emphasizes the importance of integrating policy guidance with strategic investments, suggesting that investors consider both established industry giants and promising emerging firms. This paper aims to contribute to academic discussions on value investment and industry analysis in the digital economy. These insights serve as a foundation for future research and informed investment decision-making.