BOCOM INTL: Maintains "Buy" rating on NTES-S (09999) with target price raised to HKD 206.
Guosen Securities International expects that Netease-S (09999) fourth-quarter game revenue will increase by 23% year-on-year due to deferred revenue and continued contribution from new games.
BOCOM INTL has published a research report stating that it maintains a "buy" rating for NTES-S (09999) with the target price raised by 10% to HKD 206. The company's third-quarter revenue met expectations, while profits exceeded those of the bank and the market forecast. Total revenue for the period increased by 12% year-on-year, with gross profit margin increasing by 6 percentage points to 62%. The bank stated that NetEase's third-quarter mobile game revenue exceeded expectations, with a year-on-year increase of 33%. The management team also updated their new game launch plan and projected a 23% year-on-year growth in game revenue for the fourth quarter, driven by deferred revenue and the continuous contribution of new games.
Related Articles
General Administration of Customs: China's goods trade import and export increased by 14.9% in the first 4 months.
Known as the "pioneer of China's hard discount", it will impact the Hong Kong stock IPO.
Wall Street giant BlackRock doubles down on betting on RWA! Plans to issue two tokenized currency-based funds targeting stablecoin cash pools.
General Administration of Customs: China's goods trade import and export increased by 14.9% in the first 4 months.
Known as the "pioneer of China's hard discount", it will impact the Hong Kong stock IPO.
Wall Street giant BlackRock doubles down on betting on RWA! Plans to issue two tokenized currency-based funds targeting stablecoin cash pools.
