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"For us, all enterprises are our clients, whatever ownership and size they have or whatever industries they are in. The only gauge is their performance, good or bad," said Gu.

"For gold company transactions, acquisition prices, relative to the prevailing gold price, were on average at the lowest level since 2011 and the second lowest since 1998," it said. The bank said it sees production profiles under pressure and reserves in decline after years of underinvestment.

"From the perspective of users, driven by the love for great copyrighted cultural products, they will be willing to experience related derivative works, among which games will be suitable carriers," said Wang Xu, chief analyst at Gamma Data Corp. "As China's demographic dividend is disappearing, game developers need to seek new ways of expansion. And the IP rights-protected products will help reduce the cost for developers to attract users."

"For instance, within one year of its rollout in 2009, the ChiNext board recorded gains together with older boards in the A-share market. A similar story happened in the United States when the Nasdaq debuted in 1971," Xue said.

"Further opportunities remain in the lower-tier cities as demand in the top-tier is already saturated. The growth rate of monthly active users in top-tier cities only hit 10 percent by the third quarter of last year," Tsang said.