Puppet Games
Puppet Games is a small private mobile game research and development company founded in 2014 in Haidian, China, with 1-10 employees and early-stage backing from Xiaomi, Shunwei Capital, and Meihao Huyu Keji.
- Company typePublic
- Founded2008
- HeadquartersHaidian, China
- Headcount1–10
- GTM typeB2C
- OfferingDigital Commerce or Content
What Puppet Games does
Puppet Games is a mobile game research and development company founded in 2014 and headquartered in Haidian, China. Operating as a small private studio with 1-10 employees, the company is focused on developing mobile games under the leadership of founder and CEO Wu Yang. Publicly available information is limited; the company maintains a website at puppetsgame.com and has no disclosed IPO or public listing.
The company's capital base reflects early-stage venture activity. Puppet Games closed a 2015 seed round of $464,978 with participation from Com4Loves, Shunwei Capital, and Xiaomi — a notable group of Chinese tech and gaming-adjacent investors. In July 2017, the company raised a second round of $1,469,950 led by Meihao Huyu Keji, bringing total disclosed funding to approximately $1.93M. Beyond the funding history, no specific game titles, monetization models, distribution channels, user metrics, or revenue figures are publicly documented.
The business model is consistent with a small independent mobile game developer: revenue, if any, would typically derive from in-app purchases, advertising, or paid downloads on app stores, but no such mechanics or pricing details are disclosed. Customer segments are not specified, though mobile game studios typically serve end-consumers via platforms such as Apple App Store and Google Play, with potential geographic exposure in China and global markets. The absence of post-2017 funding, headcount growth signals, or product launch data limits visibility into the company's current operating scale and trajectory.
Puppet Games firmographics
Firmographics- Name
- Puppet Games
- Legal name
- 海南CA88药业集团股份有限公司
- Website
- https://puppetsgame.com
- Company type
- Public
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Puppet Games is a small private mobile game research and development company founded in 2014 in Haidian, China, with 1-10 employees and early-stage backing from Xiaomi, Shunwei Capital, and Meihao Huyu Keji.
- Ownership category
- akta.pro rank
Puppet Games industry classification
Industry- Product category
- Mobile Games
- NAICS
- Amusement Arcades (71312)
- SIC
- Services-Miscellaneous Amusement & Recreation (7990)
- akta.pro primary industry
- Blockchain Game Studios & Game Development (FSAPAGAC)
Keywords
Where Puppet Games is headquartered
LocationHeadquarters
- HQ city
- Haidian
- HQ country
- China
- HQ region
- Asia
Offices7 records
Markets served
Puppet Games business model
Business model- GTM type
- B2C
- Offering type
- Digital Commerce or Content
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- Pharmaceutical Product Sales: CA88 generates primary revenue through manufacturing and selling pediatric pharmaceutical products including Chinese patent medicines and chemical drug formulations. Core products include respiratory (小儿肺热咳喘颗粒), gastrointestinal (肠炎宁颗粒), and nutritional supplements (复方赖氨酸颗粒). The company sells through OTC retail channels, hospital/clinical channels, and e-commerce platforms.
- Contract Manufacturing / OEM Services: CA88 operates 6 intelligent manufacturing bases with 46 production lines available for contract manufacturing of pharmaceutical products for partners.
- Health Product Manufacturing: Revenue from production and sale of health food, special medical food (特医食品), and pediatric health supplements as part of the children's health full lifecycle product ecosystem.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | Hospital/Clinical Channel Products |
| Transaction based/ take rate | Pay-as-you-go | OTC/Retail Channel Products |
| Unit Pricing | Pay-as-you-go | E-commerce Direct-to-Consumer |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels6 records
Puppet Games product offering
Product offeringCore offering
Puppet Games is a mobile game research and development company that designs and develops mobile games for end consumers. The company operates a small, focused game studio in Haidian, China, building titles for the mobile gaming market.
Product overview
CA88药业集团 is a pharmaceutical company with a platform-plus-brands architecture, organized around four main product lines: CA88® (pediatric core medications), 葫芦爸® (adult medications), 葫芦妈® (women's health), and 葫芦世家® (pediatric nutrition). The company produces 34 marketed pediatric medications with key products including 小儿肺热咳喘颗粒 (respiratory), 肠炎宁颗粒/胶囊 (gastrointestinal), and 复方赖氨酸颗粒 (nutrition), covering呼吸系统、消化系统、补益类、维矿类等多个用药领域. The company has approximately 120 products under research and development, with a sales network covering all provinces in China across 2300+ counties and cities.
Differentiator
Problem solved
Functional benefit
Brands
- 葫芦爸: Adult medications brand under CA88 pharmaceutical group
- 葫芦妈
- 葫芦世家
- 葫芦宝贝
Products and services
- Mobile Games Mobile game titles developed and published by Puppet Games for consumer audiences on mobile platforms. The studio focuses on research and development of mobile gaming experiences.
Quantifiable outcome
- 小儿肺热咳喘颗粒 has been proven to be effective in treating pediatric respiratory conditions and has been included in National Essential Drug List, National Medical Insurance Catalog, and National Influenza Diagnosis and Treatment Protocol for three consecutive years.
- +2 more outcomes
Companies that use Puppet Games
Customer profileNamed customers4 records
Segments4 records
Ideal customer profiles1 record
Puppet Games technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Puppet Games partnerships and signals
Strategic signalPartnerships
27 partnerships are on record, tiered core and minor.
- 中国中药协会coreCA88's Chairman Liu Jingping serves as Vice President of China Association of Traditional Chinese Medicine and was re-elected as Vice Chairman of the Pediatric Health and Drug Research Professional Committee, which comprises over 1,700 pediatric experts nationwide. The partnership enables academic exchange, clinical research collaboration, and policy advocacy in pediatric TCM.
- 世界中医药学会联合会儿科专业委员会coreCA88 participates in international academic exchange conferences organized by the World Federation of Chinese Medicine Societies Pediatric Committee. Chairman Liu Jingping serves as Vice President of the 4th Council. The partnership supports international academic exchange and promotion of pediatric Chinese medicine formulations globally.
- 苏州玉森新药coreCA88 signed a cooperation agreement with Suzhou Yusen New Drug to promote modernization development of traditional Chinese medicine innovation drugs. The partnership focuses on joint research and development of new TCM formulations and classic formula advancement.
- 京东健康minorCA88 partnered with JD Health to donate emergency medications to flood-affected areas in Hebei Province, demonstrating collaboration in disaster relief and corporate social responsibility initiatives.
- 中国工程院院士张强coreCA88 signed an agreement with Academician Zhang Qiang from Beijing University School of Pharmacy to establish an Academician Expert Workstation, strengthening high-level R&D talent partnerships and pediatric drug innovation.
- 大参林医药集团coreCA88 partnered with Dashenlin Pharmacy Group for children's health promotional activities including health festivals and educational events targeting families and children.
- 一心堂coreCA88 collaborated with Yixintang Pharmacy on the 'Little Singer Dream Action' charity program, combining health promotion with community engagement activities in Hainan and Guangxi provinces.
- 健之佳健康药房coreCA88 partnered with Jianzhijia Health Pharmacy for the 'Help Children Grow - Beneficial Childhood' charity program, including free health consultations, trace element testing, and children's health education activities.
- 万和医药连锁coreCA88 collaborated with Wanhe Medical Pharmacy Chain in Chongqing for gastrointestinal health public welfare activities, including expert lectures, free consultations, and promotional events.
- 张强院士工作站coreCA88 established an Academician Expert Workstation with Zhang Qiang, a member of the Chinese Academy of Engineering and professor at Peking University School of Pharmacy, to strengthen pediatric drug research and development capabilities.
- 中国儿童中心coreCA88 partnered with China Children's Center to support children's welfare programs including the 'Children + 365 Plan' charity project, demonstrating commitment to children's health and welfare initiatives.
- 中华少年儿童慈善救助基金会 (中华儿慈会)coreCA88 partnered with China Children and Charitable Relief Foundation to support children's charity programs, including donations of health education materials and family health kits for underprivileged children.
- 海南省旭日东升慈善基金会coreFounded by CA88's Chairman Liu Jingping in 2016, the foundation focuses on children's health, education, and welfare. The foundation has been recognized as a charitable organization since 2017 and has contributed over 50 million RMB in donations.
- 养天和coreCA88 and Yingtianhe (百年老店) signed a strategic cooperation agreement in Changsha. The partnership leverages Yingtianhe's retail network strength and CA88's product portfolio to expand market presence in the pharmacy retail segment.
- 北京新领先医药科技发展有限公司coreCA88 signed a strategic cooperation memorandum with Beijing Xinlingxian Pharmaceutical Technology Development Co., Ltd. to jointly build a high-end pediatric drug research platform. The partnership leverages Xinlingxian's expertise in pharmaceutical development to accelerate CA88's pediatric innovation pipeline.
- 盈科瑞coreCA88 partnered with Yingkerui for collaborative development of new preparations and classic formulas. The partnership enables CA88 to access advanced formulation technologies including oral soluble films and novel delivery systems for pediatric medications.
- 河南卢氏县minorCA88 co-built a wild Forsythia protection base in Lushi County, Henan Province, extending the industry chain and ensuring quality raw material supply. The partnership covers protection and development of地道药材 resources spanning over 40,000 mu.
- 1药网minorCA88 partnered with 1药网 (1Yao.com) to explore 'Internet + Medicine' development opportunities, expanding online pharmaceutical sales channels and digital commerce capabilities.
- 中国药店coreCA88 signed a 'Gold Medal Pediatric Pharmacist' strategic cooperation agreement with China Pharmacy. The partnership includes professional training programs, marketing activities, and brand promotion for pediatric medication awareness.
- 中华中医药学会儿科分会coreCA88 co-hosted the 'China Children's Intestinal Health Forum' with the Pediatric Branch of China Association of Traditional Chinese Medicine, establishing the 'China Children's Intestinal Health Volunteer Alliance'.
- 山东漱玉平民大药房coreCA88 signed a strategic cooperation agreement with Shuyu Pingmin Pharmacy in Shandong Province, establishing a major retail distribution partnership for pediatric and adult OTC products in the Shandong market.
- 陕西怡康医药coreCA88 established strategic cooperation with Shaanxi Yikang Pharmacy, expanding distribution coverage in the Shaanxi province and western China markets.
- 重庆万和药房连锁coreCA88 signed strategic cooperation with Chongqing Wanhe Pharmacy Chain, enabling deeper penetration into the Chongqing and southwestern China markets.
- 老百姓大药房coreCA88 established strategic cooperation with LBX Pharmacy (老百姓大药房), one of China's largest pharmacy chains, to expand nationwide retail distribution and promotional activities.
- 世界卫生组织儿童卫生合作中心coreCA88 received the 'Customized Children's Medication' Outstanding Contribution Award from WHO Asia-Pacific Collaboration Center on Children's Health, recognizing the company's contributions to pediatric medication safety.
- 中国医药教育协会coreCA88 cooperated with China Medical Education Association to launch the national continuing medical education project 'Children's Safety and Standardized Medication Knowledge Popularization Education'. The program trained over 10,000 grassroots medical workers in 2,000+ sessions.
- 天津药物研究院有限公司coreLong-term R&D collaboration with Tianjin Institute of Pharmaceutical Research and other renowned institutions including 山东省药学科学院, 沈阳药科大学, and 辽宁中医药大学 for new product development and commercialization.
Scale indicators20 records
Recent moves7 records
Expansion highlights1 record
Puppet Games competitors and assessment
Company assessmentDirect peers
- Papergames: Suzhou-based Chinese mobile/PC game studio known for female-oriented narrative titles (Love and Producer, Shining Nikki). Comparable in Chinese indie game studio scale and category positioning.
- Pathea Games: Chongqing-based independent game studio known for My Time at Portia. Similar size, indie-led, Chinese mobile/PC game development profile, comparable funding trajectory and product scope.
- Game Science: Shenzhen-based Chinese game studio that developed Black Myth: Wukong. Started as a small indie team before scaling; useful peer for understanding the indie-to-breakout trajectory available to small Chinese game studios.
- Pixpil: Shanghai-based small indie game studio (Eastward). Comparable in scale, indie founder profile, and Chinese indie mobile/PC development trajectory.
- Archosaurs Games: Beijing-based mobile game studio with mid-scale operation. Comparable Chinese mobile gaming market positioning and product category (mid-core mobile titles).
- Veewo Games: Xiamen-based independent mobile/console game studio that built and self-published hits like Super Phantom Cat. Closely comparable in scale, founder-led indie profile, and Chinese origin to Puppet Games.
Broad incumbents
- Yostar: Shanghai/Tokyo-based mobile game publisher with strong China-Japan publishing footprint. Relevant comparable as a potential distribution partner or acquirer profile for small Chinese mobile studios.
- Lilith Games: Shanghai-based mid-to-large mobile game publisher (AFK Arena, Rise of Kingdoms). Comparable Chinese mobile game origin and category, but at substantially larger scale — useful as a 'what scale can look like' benchmark.
- XD Inc. Hong Kong-listed Chinese mobile game publisher with portfolio of indie and mid-tier titles. Relevant comparable for the Chinese indie-to-mid-tier mobile game publisher business model and exit pathways.
Others
- Cocos (Chukong Technologies): Beijing-based game engine and tooling provider for Chinese mobile developers. Comparable in Haidian/Beijing origin and Chinese mobile gaming ecosystem participation, though operates in tooling rather than title development.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat1 record
Key risks6 records
Key highlights5 records
Customer concentration
Puppet Games compliance and trust
Trust signalCompliance4 records
Puppet Games financial estimates
Financial estimateRevenue estimate
Valuation estimate
Puppet Games leadership team
Management profileNumber of profiles
Profiles1 record
Puppet Games subsidiaries and ownership
Company hierarchySubsidiaries5 records
Puppet Games funding detail
Funding detailFunding overview
Funding rounds2 records
Investors4 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Puppet Games M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Puppet Games
What does Puppet Games do?
Puppet Games is a mobile game research and development company that designs and develops mobile games for end consumers. The company operates a small, focused game studio in Haidian, China, building titles for the mobile gaming market.
Is Puppet Games a public or private company?
Puppet Games is a public company. It is classified as venture growth investor backed and is currently operating.
When was Puppet Games founded?
Puppet Games was founded in 2008. It employs 1 to 10 people.
Where is Puppet Games based?
Puppet Games is headquartered in Haidian, China, in the Asia region.
How does Puppet Games make money?
Three revenue lines are on record. Pharmaceutical Product Sales are the primary driver. The others are contract Manufacturing / OEM Services and health Product Manufacturing.
Who are Puppet Games's main competitors?
Direct peers on record are Papergames, Pathea Games, Game Science, Pixpil, Archosaurs Games and Veewo Games. Broad incumbents are Yostar, Lilith Games and XD Inc.. Cocos (Chukong Technologies) is listed as an others.
Does Puppet Games have an API?
No public API is recorded for Puppet Games.
What industry is Puppet Games in?
Puppet Games's product category is Mobile Games. Its primary akta.pro industry code is FSAPAGAC, Blockchain Game Studios & Game Development. Its NAICS code is 71312 and its SIC code is 7990.