《大行報告》中金:網易-S(09999.HK)一次性授權費影響季度利潤 維持「跑贏行業」評級
中金發表報告指,網易-S(09999.HK)去年第四季實現收入254億元人民幣,按年及按季均增長4%,整體符合預期;非通用會計準則(non-GAAP)淨利潤為48億元人民幣,按年及按季分別下降27%及36%,低於市場預期,主要由於公司季度內確認相關授權遊戲的一次性版權金。
中金維持對網易Non-GAAP淨利潤預測不變,目前H股股價對應今明兩年Non-GAAP市盈率分別17倍及15.1倍,維持其股份「跑贏行業」評級,目標價175元。
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