Anxin International expects the revenue of Zhongxu Future (09890) to be 6.52 billion yuan, 9.46 billion yuan, and 10.88 billion yuan in 2023, 2024, and 2025, respectively.
The Zhitong Finance App learned that Anxin International released a research report saying that the first “neutral” rating was given to Zhongxu Future (09890). The current stock price reflects market expectations well. It is expected that incremental business will bring performance that exceeds expectations. Continued attention is recommended. The target price is HK$34.5. The Hang Seng Index Company announced the quarterly inspection results on February 16. The company was included in the Hang Seng Composite Index small-cap stock, and will become the Hong Kong Stock Exchange Standard, which will take effect on March 4. Inclusion in the Index and Hong Kong Stock Connect can also increase the company's attention and liquidity.
According to the report, the company has seized the dividends of the development of legendary purchasing companies and has accumulated circuit experience in game operation and marketing. In the future, the company will further open up the growth curve of performance by deepening the integration of R&D and operation, expanding game tracks and IP operations, expanding mini game tracks, and replicating models overseas. Due to the company's delay in the launch of some new games in 2023, the growth rate of revenue and performance is slowing down. The bank is expected to improve in 2024 along with the increase in “Dragon Trail City”, “Dora Continent: Shrek Academy” and other upcoming new game sales, as well as an increase in overseas channels and mini-game channels. The bank expects revenue of $6.52 billion, $9.46 billion and $10.88 billion for 2023, 2024 and 2025, respectively, of -26.0%, +45.0%, and +15.0% year-on-year, respectively; adjusted net profit of 700 million yuan, 1.06 billion yuan, and 1.23 billion yuan respectively, or +25.2%, +51.5%, and +15.7% year-on-year respectively.