《大行报告》高盛:腾讯(00700.HK)月中推瞩目新游「元梦之星」 与网易-S(09999.HK)「蛋仔派对」竞争值得关注
高盛发表报告指出,腾讯(00700.HK)将于下周五(15日)推出瞩目新游戏《元梦之星》,该行注意到腾讯已确认在游戏上投入大量资源,包括腾讯互动娱乐事业群(IEG)/天美工作室群、首阶段投入14亿元人民币用于UGC系统/创作者的投资,以及与如《王者荣耀》般的IP联动。
该行认为,与市场上现有的派对游戏相比,相信《元梦之星》凭借其多样化的游戏玩法、微信/QQ建立的社交网络,以及可能在包括抖音在内的主要平台上进行大规模推广,可以瞄准更广泛的跨年龄受众。由于该款游戏即将推出,且距离2024年农历新年旺季还有两个月时间,该行目前预测《元梦之星》推出的首月可带来8亿至10亿元人民币的收入,首年收入可达50亿至60亿元人民币(约占国内游戏收入的4%)。
网易-S(09999.HK)方面,该行指公司已于今年成功推出同类游戏《蛋仔派对》,其今年收入约70亿至80亿元人民币,与《元梦之星》在用户和花费时间上的竞争将值得关注。该行预期,虽然该两款游戏及类似游戏的用户将出现部分重叠,但估计派对游戏的整体潜在市场应会快速扩张,并迎合许多其他游戏类型的用户,如射击及休闲等,而非简单地蚕食两款游戏类型的用户。因此,该行预计明年《蛋仔派对》的总收入将达40亿至50亿元人民币,与今年相比,将是游戏寿命的正常衰退。
该行对腾讯评级为「买入」,目标价435元。对网易评级为「买入」,目标价206元。
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