建銀國際:維持網龍(0777.HK)目標價30.5港元 評級“優於大市”
建銀國際發表研究報吿預期,網龍(0777.HK)去年全年收入按年升3.4%至60億元人民幣,符合市場預期;毛利率預計為66.5%,按年持平;純利將按年跌11.6%至7.13億元人民幣,大致符合市場預期。該行維持其“優於大市”評級,目標價維持30.5港元。
該行指,網龍對比起其他遊戲開發公司收入增長較慢,主要由於其新遊戲延期推出及PC遊戲業務已成熟。該行料,在線遊戲和線上教育業務都將在2021年加速發展,預計在線遊戲的銷售將從2020年的4.7%同比增速回升至2020-22年的8%複合年增長率;又料在線教育業務2020-22年複合年增長率將達22%。

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