Shenzhen Bingchuan Network

What Shenzhen Bingchuan Network does

Shenzhen Bingchuan Network (冰川网络) is a publicly listed Chinese game developer and publisher founded in January 2008 and traded on the Shenzhen Stock Exchange (stock code: 300533). The company operates a diversified portfolio of PC and mobile games across multiple genres: national warfare MMORPGs rooted in Chinese mythology (Shan Hai Jing, Feng Shen Yan Yi themes), 2.5D martial arts action titles, mobile idle card games, and mobile SLG strategy titles. Flagship franchises include the 16-year-old 远征OL (Expedition Online), the 龙武 action MMORPG series built on proprietary PTA and XP game engines, the idle card franchise 超能世界/X-HERO, and the breakout SLG title X-Clash, which achieved 18.5 million downloads and a #4 global ranking in October 2025.

Underlying technology centers on self-developed game engines and proprietary infrastructure including the PTA game engine and XP physics engine for 2.5D action titles, an idle card system with hero collection and automatic progression mechanics, and a hybrid SLG architecture combining light front-end gameplay with deep back-end strategy. The company operates its own payment platform (冰川宝), a player-to-player character and account trading marketplace (珍宝阁) with multi-title coverage, a unified Glacier Passport account system, and a game incubation center. Game infrastructure supports 8+ languages including Chinese, English, Korean, Japanese, Russian, and Traditional Chinese.

The business model is freemium across all titles, with revenue generated from in-game virtual currency purchases (consumables, hero cards, equipment, cosmetics, battle passes), marketplace commissions on the 珍宝阁 trading platform, international IP licensing to regional publishers (Japan, Korea, Taiwan/HK, Vietnam), and ancillary game incubation and consulting services. Distribution occurs through proprietary websites and launchers, Apple App Store, Google Play, Chinese OEM app stores (Xiaomi, Huawei, OPPO, Vivo), and licensed regional operators. The company serves three primary customer segments: PC MMORPG players (particularly fans of Chinese mythology-themed nation warfare), mobile idle/card game players seeking low-commitment progression, and SLG strategy gamers, with recent expansion adding casual mobile users via X-Clash's hybrid light-gameplay design.

Name

Shenzhen Bingchuan Network

Legal name

深圳冰川网络股份有限公司

Website

https://q1.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Shenzhen Bingchuan Network is a Chinese game developer and publisher operating PC MMORPGs and mobile titles (idle card, SLG, action) globally, with flagship franchises 远征OL, X-HERO, and breakout SLG hit X-Clash reaching 18.5M downloads in October 2025.

Ownership category

akta.pro rank

Product category

Online Game Development and Publishing

SIC

Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

PC Digital Game Stores & Launchers (MPAFACAA)

akta.pro secondary industries

In-Game Item Marketplaces & Trading Platforms (MPAFACAJ), Digital Game Marketplaces & Item Economies (NFT/Skins/Trading) (BPAMAKAJ), Social/UGC Game Platforms with Integrated Stores (MPAFACAG)

Keywords

• Online game development
• Mobile game publishing
• MMORPG games
• Idle card games
• SLG strategy games

Headquarters

HQ city

Shenzhen

HQ country

China

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Infrastructure, Operations

Revenue model

1. In-Game Item Purchases and Virtual Currency: Players purchase virtual currency (充值点卷/消费卷) to buy in-game items, hero cards, equipment, cosmetics, and battle passes within games. The company operates its own payment platform (冰川宝) and supports third-party payment channels including WeChat Pay, Alipay, PayPal, and mobile carrier billing.
2. Character/Account Trading Platform (珍宝阁): Players buy and sell game accounts and characters on Glacier's proprietary trading marketplace (珍宝阁), with the company taking a commission on each transaction.
3. Mobile Game Publishing Revenue: Global mobile game publishing revenue from App Store and Google Play, with X-Clash generating 18.5 million downloads in October 2025. Revenue generated through player spending on mobile titles.
4. International Licensing: Licensing of game IP and publishing rights to international operators, with documented agreements with Japanese and Korean publishers for game authorization.
5. Game Consulting and Incubation Services: Business consulting and incubation services for gaming startups through Glacier's incubation center (全民孵化).

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Shenzhen Bingchuan Network is a publicly listed Chinese game developer and publisher that designs, develops, publishes, and operates online games for PC and mobile platforms worldwide. The company's portfolio spans PC MMORPGs (远征OL, 龙武), mobile idle card games (超能世界/X-HERO), mobile SLG strategy (X-Clash), and mobile MMO warfare titles (远征手游, 远征2手游, 龙武手游). Revenue is generated through in-game virtual currency and item sales, character trading marketplace commissions (珍宝阁), and international IP licensing to regional publishers.

Product overview

Shenzhen Bingchuan Network (冰川网络/Glacier Network) is a Chinese game developer and publisher operating under stock code 300533. The company offers a portfolio of both PC MMORPGs and mobile games spanning multiple genres: national warfare RPGs, martial arts action, idle card games, and SLG strategy titles. The core PC products include 远征OL (16-year classic) and 龙武端游, while the mobile portfolio features 超能世界/X-HERO (idle card), X-Clash (SLG strategy), 远征手游, and 远征2手游 (MMO warfare). The company has expanded internationally with overseas versions of its idle card games, achieving top chart positions in multiple markets including 40 countries for X-Clash.

Differentiator

Problem solved

Functional benefit

Brands

• X-HERO: 放置超级英雄卡牌手游，首款在欧美市场全球发行的放置卡牌产品
• 超能世界
• X-Clash
• 远征OL
• 龙武
• 远征手游
• 远征2手游
• 龙武手游

Products and services

• 远征OL (Expedition Online) A 16-year classic Chinese national warfare MMORPG with real-time combat, massive multiplayer battles, cross-server warfare, and Chinese mythology themes drawn from 山海经 and 封神演义. Operates as a non-P2W model on green servers. Targeted at hardcore PC MMO players.
• 龙武 (Long Wu PC) A 2.5D martial arts action MMORPG built on self-developed PTA game engine and XP physics engine, featuring action and xianxia game elements with growth-based equipment, multi-jump mechanics, and rage counter-attack systems. Targeted at action MMORPG players.
• 超能世界 (X-HERO / Xgame) A self-developed idle adventure card mobile game with unique clay sculpture art style, strategic combat, hero collection, and team building mechanics. Features automatic progression without active gameplay. Topped iOS China game free chart in October 2022 and reached #1 in 25 countries' free charts in August 2022.
• X-Clash A post-apocalyptic survival card strategy mobile game positioned as a breakthrough SLG product combining light front-end gameplay with deep back-end strategy mechanics. Achieved 18.5 million downloads and ranked 4th most downloaded mobile game worldwide in October 2025. Reached #1 free chart in 40 countries including US, Canada, and Brazil.
• 远征手游 (Expedition Mobile) Mobile adaptation of the classic Expedition IP with enhanced graphics, next-generation flight combat mechanics, and large-scale nation warfare gameplay. Targeted at mobile MMO players seeking the Expedition experience on mobile devices.
• 远征2手游 (Expedition 2 Mobile)

Quantifiable outcome

• X-Clash achieved 18.5 million downloads and ranked as the fourth most downloaded mobile game worldwide in October 2025
• +3 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and regional.

• Japanese Game Operators (Japan Publishers)coreChannel Partner/ Reseller/ Distributor · 1 May 2011Glacier Network signed game authorization operating agreements with Japanese game operators in May 2011 for publishing rights of its games in Japan.
• South Korean Game Operators (Korea Publishers)coreChannel Partner/ Reseller/ Distributor · 1 May 2011Glacier Network signed game authorization operating agreements with South Korean game operators in May 2011 for publishing rights of its games in South Korea.
• Magic House Interactive Entertainment (魔法屋互動娛樂)regionalChannel Partner/ Reseller/ DistributorIdentified as the authorized agent for 超能世界 in Taiwan and Hong Kong markets, operating localized game services and user support.
• Taiwan Bingjiao Information (台湾冰角资讯)regionalChannel Partner/ Reseller/ DistributorTaiwan Bingjiao Information obtained Hong Kong, Macau, and Taiwan publishing rights for 龙武 (萌剑诀) on September 28, 2014.
• Vietnam Game OperatorsregionalChannel Partner/ Reseller/ Distributor龙武 expanded to Vietnam in July 2014 with a signed agency agreement with a local Vietnamese operator for publishing in Vietnam.
• Tencent (WeChat Pay / QQ Payment)coreTechnology or IntegrationWeChat Pay and QQ payment integration for in-game purchases across Glacier Network's games. Referenced in user agreement and payment documentation.
• Alibaba (Alipay)coreTechnology or IntegrationAlipay payment channel integration for in-game purchases. Referenced in privacy policy and payment documentation.
• Apple (iOS / App Store / Apple Pay)coreTechnology or IntegrationiOS mobile game distribution through App Store with Apple Pay for in-app purchases. Privacy policy references data sharing with Apple for refund review purposes.
• Google (Android / Google Play)coreTechnology or IntegrationAndroid mobile game distribution through Google Play with Google Pay for in-app purchases. Privacy policy references Google Play payment processing.
• Chinese Mobile Manufacturer SDK Partners (Xiaomi, Huawei, OPPO, Vivo, Samsung, Lenovo, Coolpad, Meizu, Nubia, etc.)coreTechnology or IntegrationIntegrated with SDKs from major Chinese mobile manufacturers for push notifications, payment, account login, and advertising on their respective app stores and platforms.
• Glacier Inc. (Copyright holder for overseas operations)coreStrategic or Co-development PartnerGlacier Inc. listed as the copyright holder for X-Clash overseas game operations. Referenced in X-Clash user agreements and privacy policies across multiple language versions.

Scale indicators5 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• IGG: Hong Kong-listed mobile game publisher (799.HK) with Lords Mobile and Doomsday: Last Survivors. Direct peer in mobile strategy gaming with strong international focus and similar freemium mobile monetization model.
• Yostar: Shanghai-based mobile game publisher operating Blue Archive, Arknights, and Azur Lane. Direct peer in mobile gacha/card game publishing with similar international expansion strategy across East Asian and Western markets.
• Century Games: Chinese mobile game developer and publisher known for Kingshot and Whiteout Survival. Directly comparable as a fellow new entrant in the mobile strategy/SLG category, with X-Clash mentioned in industry coverage alongside Century Games' Kingshot as breakthrough titles in October 2025.
• FunPlus: Global mobile strategy game publisher with State of Survival, King of Avalon, and Frostborn. Direct peer in the mobile SLG strategy category, competing for the same international strategy gamer audience that X-Clash targets.
• Lilith Games: Shanghai-based mobile game developer behind Rise of Kingdoms, AFK Arena, and Disney Mirrorverse. Direct peer in mobile strategy and idle RPG genres, with overlapping target audience and similar freemium monetization model.
• miHoYo (HoYoverse): Chinese mobile/PC game developer behind Genshin Impact, Honkai: Star Rail, and Honkai Impact. Direct peer as Chinese game developer with global mobile gaming success and proprietary engine technology, though operating at significantly larger scale.

Broad incumbents

• NetEase: Major Chinese game developer and publisher (NASDAQ: NTES) with titles including Marvel Rivals, Identity V, and Onmyoji. Broad incumbent in Chinese gaming industry with overlapping MMO and mobile strategy genres, though operating at much larger scale.
• Perfect World: Chinese game developer (PWRD) with PC MMO heritage and mobile expansion. Broad incumbent with similar national warfare MMORPG history and Chinese mythology-themed game development overlap.
• Tencent: Largest Chinese gaming company and Glacier Network's payment integration partner (WeChat Pay, QQ Payment). Broad incumbent across all gaming genres, also serving as infrastructure provider through WeChat Pay integration referenced in Glacier's privacy policy.

Regional players

• 37Games (37 Interactive Entertainment): Major Chinese mobile game publisher focused on Chinese domestic market with titles including 永恒纪元 and 大天使之剑. Regional peer with similar Chinese mobile gaming focus, though primarily serving domestic rather than international markets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xweibo.com/szgla

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shenzhen Bingchuan Network