# 候鸟

> ResidualPlay case file: an overlooked Steam game still earning residual revenue. Estimates carry a ±30-50% error range per title.

- Steam appid: 1765350
- Developer: KIDFansClub
- Publisher: Syawase Works China
- Released: 2023 · Genre: Adventure · List price: $10.99
- Deal grade: B (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $1.3k to $2.0k per month (mid $1.6k)
- Opportunity score: $3.0k/month at x1.85 dormancy multiplier
- Est. lifetime owners: 117.5k · Est. lifetime net revenue: $321.9k
- Review sentiment: 97% positive across 3972 reviews (3671 from Steam purchases)
- Review velocity: 23.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 16 months
- Studio quiet across its whole catalog
- Last build shipped 3.7 years ago
- Store page localized in only 1 language(s)

## Where a gross dollar goes (monthly, at current velocity)

| Stage | USD/month |
|---|---|
| Gross storefront sales | $3.0k |
| After VAT / sales tax (-13% blended) | $2.6k |
| After refunds (-9.5% median) | $2.3k |
| Net to developer (after Steam 30%) | $1.6k |

## Monthly review counts, oldest to newest (24 months)

69, 39, 34, 165, 128, 85, 65, 155, 63, 33, 57, 85, 39, 26, 42, 19, 27, 39, 21, 23, 26, 15, 24, 34

## Estimated acquisition range

$39.2k to $78.4k (2-4x the trailing net annuity of $19.6k/year). Same error range applies.

## Markets by review language

- english: 1% (game NOT localized in this language)
- koreana: 0% (game NOT localized in this language)
- japanese: 0% (game NOT localized in this language)
- schinese: 99% (game NOT localized in this language)
- german: 0% (game NOT localized in this language)

Localization gap: 100% of measured reviews are written in languages the game does not support (top: schinese). Localizing is likely immediate market expansion.

## Analyst notes (AI-assisted)

候鸟 (Migratory Bird) is a 2023 narrative adventure by KIDFansClub about high school memories, reportedly based on true events.

This title is a quiet performer earning $1,632.7/mo residual revenue on a $10.99 price point with 97% positive reviews and strong engagement in Simplified Chinese markets. The developer appears dormant (16 months since last community post), but the game's narrative-driven design and real-event foundation suggest IP or revival potential if the underlying story rights are clear. Most relevant for publishers seeking dormant indie catalog acquisitions or studios exploring Chinese-market publishing partnerships.

- Most realistic play: acquisition
- Risk (other): Game's foundation as 'true story adaptation' may require clearance from people depicted; KIDFansClub's single-title status and 16-month silence raises questions about studio continuity and ability to grant rights.
- Risk (market): 97% of review volume is Simplified Chinese (3,625 of 3,671 reviews); English market signal is minimal (20 reviews), limiting visibility and resale potential outside Asia.
- Risk (other): Zero sales in past 12 months despite ongoing monthly revenue suggests organic word-of-mouth only; no active marketing or discount strategy to test pricing elasticity.

What players are asking for:
- English localization or broader language support (100% localization gap flagged for Simplified Chinese-only release)
- Developer communication on future projects or story-related expansions
- Platform or console ports to reach non-Steam audiences

Suggested first moves:
1. Verify IP ownership of the true-event source material and any personal rights clearances; confirm KIDFansClub's ability to transfer full rights and whether Syawase Works China (publisher) retains veto power.
2. Conduct Chinese-market player interviews to map demand for official English localization, DLC, or sequel; test whether $1,632.7/mo residual could scale 2-3x with regional marketing and platform expansion.
3. Reach out to KIDFansClub principals directly to assess studio status, intent to sell, and narrative IP pipeline; explore whether acquisition of the studio (not just the game) unlocks future development capacity or IP extensions.

Generated 2026-08-20 from public signals and player reviews. Directional, not diligence.

## Methodology

Units are estimated from Steam-purchase reviews times a release-cohort multiplier (Boxleiter method, 20-75x by year). Revenue uses an effective price (lifetime discounts and regional pricing) and nets out VAT (~13%), refunds (~9.5%) and Steam's 30% cut: roughly 55% of gross reaches the developer.

Source: https://residualplay.com/game/1765350
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.