《大行報告》大摩:網上娛樂股份看好網易(09999.HK)及快手(01024.HK)
摩根士丹利發表研究報告指出,大部分內地網上娛樂公司於第一季營運改善,但該行對除了網易(09999.HK)外的網上娛樂公司下半年的預測,均低於市場預期,主要由於消費者支出疲弱,且對直播的新監管憂慮。而網上娛樂股份中,該行看好網易(09999.HK)及快手(01024.HK)。
該行預期,內地「封城」後重新開放,料快手(01024.HK)於「封城」後的復甦為業內最強,因受其上半年日活躍用戶數量(DAU)按年增長17%,及總用戶時長按年增長40%至50%推動,其直播電商業務亦將推動其廣告業務。
至於網易方面,該行認為網易遊戲收入約有中至高十位數的增長,表現穩定,主要由於公司對宏觀疲弱環境免疫,以及將於6月23日在內地推出《暗黑破壞神永生不朽(Diablo:Immortal)》及下半年推出《哈利波特》新款遊戲。另外,該行對嗶哩嗶哩-S(09626.HK)維持謹慎看法。
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