东方财富:维持中手游(00302)“买入”评级 上调目标价至3.78港元

Oriental Fortune: Maintains the “Buy” rating of the Chinese mobile game (00302) and raises the target price to HK$3.78

Zhitong Finance ·  09/12/2023 16:04

The Zhitong Finance App learned that Dongfangcai released a research report stating that it maintains the “buy” rating of the Chinese mobile game (00302), referring to comparable companies. Considering the company's business scale and product launch pace, it will give 14 times PE in 2024, raising the target price to HK$3.78. Revenue for 2023-25 is estimated to be 34.29/60.09/7.709 billion yuan, and net profit to parent is 376/6.97/875 million yuan. EPS is 0.14/0.25/0.32 yuan/share, respectively, corresponding to 10/5/4 times PE10/5/4 times. Products such as “Fairy Sword World”, “National Street Basket”, and “City Owner World” are still ready to be launched in 2023. Looking forward to the future, from the product side, the company's game reserves are diverse and are expected to be launched one after another; from the policy side, version distribution will return to normal, and the company's new games will return to the original pace. The company has ushered in a product year, and the subsequent performance is worth looking forward to.

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