《大行報告》中金料網易(09999.HK)第二季非通用會計準則淨利潤升17% 「暗黑」新遊戲上線解除負面因素
中金發表報告指,網易(09999.HK)預計將於8月下旬發布次季業績,預計公司收入按年增長12%至230億元人民幣(下同),市場預期為230億元。Non-GAAP淨利潤料按年增長17%至49億元,市場預期為48億元。毛利率料為54%,基本維持穩定。
中金指,網易龍頭經典遊戲《夢幻西遊》等流水次季整體穩定,部分次新遊實現流水回升,例如《無盡的拉格朗日》通過玩法創新、科學買量與營銷等使6月國內iOS暢銷榜排名按月提升超過20位至第9名。此外,《永劫無間》主機版於6月23日登陸Xbox,該行提示年內靜候《哈利波特》海外版等產品上線貢獻流水增量。
另外,原定於6月23日國服上線的重磅遊戲《暗黑破壞神:不朽》於今日上線,該行認為關於該遊戲延期的負面因素解除。中金維持對網易盈利預測,予「跑贏行業」評級,基於SOTP估值法的H股目標價為210港元。
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