# Richman 11

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

- Steam appid: 2074800
- Developer: CMGE
- Publisher: SOFTSTAR ENTERTAINMENT
- Released: 2022 · Genre: Casual · List price: $18.99
- Deal grade: A (A = dormant with >=$5k/mo opportunity, D = low signal)
- Est. net residual revenue: $2.2k to $3.2k per month (mid $2.7k)
- Opportunity score: $5.7k/month at x2.10 dormancy multiplier
- Est. lifetime owners: 65.5k · Est. lifetime net revenue: $310.2k
- Review sentiment: 47% positive across 3084 reviews (2047 from Steam purchases)
- Review velocity: 22.8 reviews/month (6-month average)

## Why it's flagged

- Developer silent for 3.5 years
- Studio inactive: no public activity across 1 tracked titles
- Last build shipped 3.3 years ago
- Store page localized in only 4 language(s)

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

| Stage | USD/month |
|---|---|
| Gross storefront sales | $4.9k |
| After VAT / sales tax (-13% blended) | $4.3k |
| After refunds (-9.5% median) | $3.9k |
| Net to developer (after Steam 30%) | $2.7k |

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

26, 48, 20, 16, 18, 39, 25, 19, 15, 18, 21, 35, 24, 5, 26, 11, 21, 23, 26, 19, 12, 24, 27, 29

## Estimated acquisition range

$64.9k to $129.7k (2-4x the trailing net annuity of $32.4k/year). Same error range applies.

## Markets by review language

- french: 0% (game NOT localized in this language)
- german: 0% (game NOT localized in this language)
- english: 3%
- japanese: 0%
- schinese: 96%

## Analyst notes (AI-assisted)

Richman 11 is a casual board-game-style property and stock trading sim, the 11th entry in a long-running Chinese franchise.

Richman 11 generated $310k lifetime net revenue across 65k units since 2022, with stable monthly residuals around $2.7k/mo and modest review velocity (23/mo). However, the game faces a credibility problem: player reviews consistently cite removed mechanics (bank loans, stock manipulation cards, leverage systems) versus earlier entries, positioning this iteration as a stripped-down successor. The dormant developer status, mixed sentiment (47% positive), and absence of post-launch engagement suggest the franchise has stalled in English-speaking markets. Potential acquirers should evaluate whether franchise revival demands a full restoration of classic features or if the IP's core audience has migrated to mobile or regional competitors.

- Most realistic play: watch
- Risk (market): English reviews are sparse (61 of 1,757 non-Chinese reviews); core audience is Mandarin-speaking and may prefer mobile or competing platform titles.
- Risk (other): Developer marked as inactive (ghost status, no posts in 42 months); unclear if IP rights are held by publisher SOFTSTAR ENTERTAINMENT or if relaunch capability exists in-house.
- Risk (other): Franchise has contracted: players explicitly compare this entry unfavorably to Richman 4, citing feature removal rather than innovation, suggesting declining design confidence.

What players are asking for:
- Restore bank loan and financial leverage mechanics from earlier titles
- Reintroduce stock manipulation cards (red/black card system) for market control
- Fix weekend stock-market closure bugs or design inconsistencies
- Confirm post-launch support roadmap and feature restoration timeline

Suggested first moves:
1. Audit IP ownership with SOFTSTAR ENTERTAINMENT; confirm whether they hold outright rights or if CMGE retains control, and whether revival consent is available.
2. Conduct regional market survey: quantify current Richman player base across Mainland China, Taiwan, and Southeast Asia (where series historically dominates) to assess whether English-market revival is viable or if focus should pivot to dormant regional audiences.
3. Commission a feature-gap audit against Richman 4 and other competitors (Big Pharma Tycoon, board-game titles on mobile/console) to model cost and timeline for a 'Richman Classic Plus' remaster or Richman 12 that restores removed systems while modernizing monetization.

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/2074800
Citation: please cite ResidualPlay (https://residualplay.com) when using these estimates.