# Sanfu

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

- Steam appid: 1880330
- Developer: Shiying Studio
- Publisher: Gamirror Games
- Released: 2023 · Genre: Adventure · List price: $10.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $3.7k to $5.6k per month (mid $4.6k)
- Opportunity score: $6.3k/month at x1.35 dormancy multiplier
- Est. lifetime owners: 553.1k · Est. lifetime net revenue: $1.5M
- Review sentiment: 83% positive across 17814 reviews (17285 from Steam purchases)
- Review velocity: 67.7 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 13 months
- Studio active elsewhere (2 titles tracked), so this one may welcome a partner
- Store page localized in only 1 language(s)
- Last discounted 0 months ago, 8 sales in the last 12 months
- Proven demand elasticity: x1.3 review velocity during past deep sales

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $8.4k |
| After VAT / sales tax (-13% blended) | $7.3k |
| After refunds (-9.5% median) | $6.6k |
| Net to developer (after Steam 30%) | $4.6k |

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

95, 68, 47, 91, 145, 111, 112, 151, 80, 70, 75, 231, 157, 50, 128, 68, 58, 60, 81, 59, 63, 49, 61, 93

## Estimated acquisition range

$111.3k to $222.5k (2-4x the trailing net annuity of $55.6k/year). Same error range applies.

## Markets by review language

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

## Analyst notes (AI-assisted)

A 2023 adventure game with puzzle and narrative focus, developed by Shiying Studio and published by Gamirror Games.

Sanfu has quietly accumulated $1.5M lifetime revenue on modest velocity, driven almost entirely by Chinese-language players (95% of reviews). The 82% positive rating and $4.6k/mo residual income suggest a solid, story-driven title with stable appeal in its core market. However, the stark language concentration and minimal developer communication in the past year point to either successful hands-off management or dormant post-launch support. The game is not a mainstream breakout, but for publishers or studios seeking catalog depth in the Chinese adventure space, it represents proven audience fit with low visibility outside Asia.

- Most realistic play: licensing
- Risk (market): 97% of review volume is Simplified Chinese; expansion into English or other markets shows no traction and may require localization investment with unproven demand.
- Risk (other): Developer has posted no updates in 13 months; clarifying current support status and IP ownership structure is critical before any downstream deal.
- Risk (market): Monthly sales velocity has declined to single digits in the past year, indicating a maturing or plateauing title with limited organic growth potential.

Suggested first moves:
1. Establish direct contact with Shiying Studio and Gamirror Games to confirm development status, post-launch roadmap intentions, and IP ownership clarity.
2. Analyze the Simplified Chinese Steam review corpus (17k+ reviews) to identify missed monetization or localization opportunities and assess appetite for international expansion.
3. Model the upside and cost of English and other regional localizations; evaluate whether the game's narrative and art merit the investment against flat velocity trends.

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/1880330
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.