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《大行報告》瑞銀:嗶哩嗶哩(09626.HK)及心動公司(02400.HK)基本面對新遊戲許可審批最敏感
瑞銀髮表研究報告指,國家新聞出版署宣佈恢復審批遊戲版號,首批涉及45款新遊戲,爲八個月以來重新發放的第一批版號,考慮到境內遊戲行業的監管擔憂,認爲此消息對投資者及公司而言爲爲重大紓緩。 瑞銀指出,此次批發的版號數量遠低於2021年每月發出的逾80個版號,可能預視着未來新版號供應將減少,遊戲開發商可能需要重新調整遊戲開發策略,進一步偏重質量而非數量;又預期當局將繼續推進未成年人保護和監管遊戲內容,並採取更嚴格標準。 該行認爲,嗶哩嗶哩(09626.HK)及心動公司(02400.HK)的基本面對新遊戲許可的批準最敏感,新版號將有利於 嗶哩嗶哩遊戲發行、廣告及直播三大業務線;而心動公司則將直接受益於遊戲《Flash Party》版號獲批,今年推出剩餘產品時間表可見度亦增加。 雖然騰訊(00700.HK)、網易(09999.HK)及完美世界此次未有新遊戲獲批,但瑞銀仍將其視爲額外受益者,預期重新啓動批準將很大程度上緩解網絡遊戲行業的壓力。
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