First Shanghai maintain IgG buy rating target price of HK $4.59 gamelink

Shanghai: the first IGG maintain buy rating target price of HK $4.59 of capital flows thousands of thousands of hot columns on stock diagnosis the latest rating simulated trading client sina finance App: Live on-line blogger to tutor Sina Hong Kong APP: real time market exclusive reference Hong Kong stocks also worth the investment? What’s the problem? Where is the future of the way out? Sina launched the "Hong Kong Hong Kong stocks as well as unattractive" discussion, with a rational and constructive attitude, welcome attention to Hong Kong stocks, concern of the capital market, Hong Kong stocks together for suggestions, seek the Hong Kong stock market tomorrow. Please to hkstock_biz@sina. The first half of this year, the company achieved a substantial revenue of $126 million in the first half of Growth Company, an increase of 21.4%. Since the first half of the company released a new era of the kingdom of the game, so do a larger scale promotion, sales rate increased to 27%. Therefore, the company’s parent profit of 26 million yuan, an increase of 5.2%. Among them, the game to achieve a good growth Castle hegemony, Revenue $71 million, an increase of 21.33%, the kingdom of the era of $18 million revenue. As the company released the game in March of this year, so the revenue for new revenue. Life extension and Castle hegemony performance of Growth Company launched Castle hegemony from 2013, has more than 3 years, the life cycle is long products. However, the company in the first half of this year, as of June, MAU grew to 10 million 600 thousand, ARPPU value remained stable, resulting in the company’s Castle hegemony achieved a growth of 21.33%. But given the long running time of the castle, we expect it to remain stable in the months to come, the next few years may gradually decline slightly. The kingdom of the era of rapid growth, the company has become an important growth point in the second half of the company due to release new products in March, while a certain amount of time to promote publicity. Therefore, the kingdom of the era in the first half of the company’s contribution to the performance of small. However, since the release of the game, its water has maintained rapid growth. At the end of August the water has gone beyond the castle hegemony, has become the company’s second main sources of income. At the same time, the proportion of the game IOS customers reached 42%, ARPPU value of about 4 times the level of Castle hegemony. Therefore, the profitability of the Kingdom era has been basically determined, is expected in the second half of the year will maintain a high level of water, the company has become an important growth point of profitability. Target price of HK $4.59, maintaining a buy rating given the company’s original game products still have a good growth, maintaining a longer life cycle. At the same time, the company changed the company’s new products in the past to a game main pattern, brings a double profit support. We raised the company’s earnings forecast, giving the company a steady growth rate of 5%, the long-term growth rate of 1%, the valuation of WACC of, the company raised the target price of HK $4.59, corresponding to the 16 year forecast earnings of 14相关的主题文章: