Impact and Insights of Operating Strategies of Listed Companies in the Gaming Industry on Financial Performance

China's gaming industry is growing rapidly and has become a key driver of economic and cultural progress. Strong financial performance is critical to the sustainable growth of the industry. This study analyzes the annual reports of four listed gaming companies using DuPont analysis and factor substitution to reveal how operational strategies affect company performance. The study reveals different approaches to capital allocation, platform operations, regional market focus, intellectual property (IP) utilization, and mergers and acquisitions (M&A), each of which has an impact on return on equity (ROE). Practical recommendations include improving research and development (R&D) capabilities, optimizing investment distribution, strategically using AI solutions, diversifying revenue streams, and strengthening oversight during M&A. These findings provide a viable pathway for the gaming industry to achieve high-quality growth.