《大行報告》匯豐研究下調嗶哩嗶哩(BILI.US)目標價至21美元 評級「持有」
匯豐研究發表報告指,下調嗶哩嗶哩(BILI.US)2023財年的收入預測約2%,預測較市場預期為低,以反映集團管理層計劃退出低利潤率業務。該行認為,集團專注於成本優化將有利於短期盈利,但可能會損害長期增長,將其目標價由29美元下調至21美元,維持「持有」評級。
該行表示,嗶哩嗶哩採取成本削減措施,包括降低收入分成比例以及研發和S&M支出,預計利潤率和純利會顯著改善,料2023及2024財年非通用會計準則淨虧損將分別收窄至34億元人民幣和12億元人民幣,並在2025財年實現收支平衡。不過,該行提到,該新戰略可能為用戶和自主開發遊戲的長期增長前景帶來不確定性。
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