Overview
- On Tuesday, June 23, Chinese trade outlets reported Alibaba has begun marketing Lingxi Games to at least five potential buyers with an indicative valuation of ¥70–90 billion.
- Reported suitors include listed game companies such as 37 Interactive, China Ruyi, Century Huatong, Giant Network and two private‑equity groups that might buy jointly.
- Lingxi comprises about 1,200 staff, multiple internal studios and the 9game and Trading Cat operations, and owns marquee titles led by the strategy hit Three Kingdoms: Strategic Edition with over 100 million global users.
- Market coverage says Alibaba shifted Lingxi to report to the group CFO before the sale process and that the company aims to redeploy funds into a large AI and cloud investment program.
- If completed, the deal could concentrate Chinese publishing power among fewer groups, change studio staff' job security and prompt buyers to rely on Lingxi’s few top titles to drive near‑term revenue.