MiHoYo is going to build a new R&D headquarters: It will cost 1 billion yuan to buy land in Shanghai, and it will need to pay taxes of 3.3 billion yuan for three consecutive years.

According to news from this site on October 20, according to the documents released by the Shanghai Municipal Planning and Nature Administration Bureau, Shanghai Shijie Technology Co., Ltd. (note on this site: a wholly-owned subsidiary of MiHoYo) acquired 1.0772 billion yuan, Won the plot of xh215-02A, Hongmei Street, Xuhui District.

The land is located in the core area of ​​Caohejing Development Zone. It is used for scientific research and design with a term of 50 years. It is close to the Line 9 subway station. , the above-ground building capacity is about 98,000 square meters, equivalent to about 11,000 yuan per square meter.

The pre-contract states that the sales revenue of the enterprise on the land must be no less than 1,599.9834 million yuan per year to reach production, and the total tax revenue must be reached. The tax output intensity will be no less than RMB 3,333.2304 million per year, and the tax output intensity will be no less than RMB 187,214.91 per square meter per year. The above data is the three-year average standard of the group from 2023 to 2025. The tax standard will be reached in 2026 and subsequent years, which will need to be separately negotiated with the district industrial department.

In other words, if MiHoYo wants to win this land, it needs to ensure that its tax contribution reaches approximately 3.3 billion yuan for three consecutive years from 2023 to 2025.

The pre-contract also shows that the nature of the main building on the ground is a R&D headquarters building. After MiHoYo wins the land, it needs to start construction within 12 months after the land is handed over. And it will be completed within 60 months after handover.

According to the global revenue rankings of Chinese mobile game publishers in September 2023 released by Sensor Tower, MiHoYo ranked third. "Genshin Impact" celebrated its 3rd anniversary at the end of September. Its revenue increased by 31% month-on-month, returning to the 7th place in the global mobile game revenue list and the 4th place in the domestic iOS mobile game revenue list. MiHoYo revenue grew 32% year-on-year in September.

Public information shows that MiHoYo was founded in 2011.

The three founders are Cai Haoyu, Liu Wei and Luo Yuhao, three of them are alumni of Shanghai Jiao Tong University. MiHoYo has launched a number of finished games, including "Honkai Academy 2", "Honkai 3", "Undecided Event Book", "Genshin Impact", "Honkai: Star Rail", and dynamic desktop software "Artificial Desktop" and the community product "Miyoushe".

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