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《大行報告》中金:騰訊(00700.HK)「DNF」國服手遊版號獲批 或緩解市場對遊戲業擔憂
阿思達克 02-05 11:47
中金發表報告指,騰訊(00700.HK)發行的網遊《地下城與勇士:起源》(DNF)獲批進口遊戲版號,雖然上線時間、分成情況、具體表現等細節都有待落實,但預計項目仍將為公司遊戲業務的增長奠定強勁基礎,DNF國服手遊是具有百億流水潛力的長線產品,由於遊戲的完成度較高,預計後續上線推進會相對較快;但考慮到具體時間節點的不確定性,以及基於騰訊的一貫風格,預期前期仍會偏重生態建設,逐步展開商業化節奏,因此暫不調整盈利預測。 報告指,在目前的盈利預測中,2024年遊戲業務增速假設為5%,擁有DNF的加持後,對遊戲業務的增速充滿信心。考慮到前期遊戲業務的不確定性是拖累公司估值的主要原因,認為DNF獲批也將有效緩解市場擔憂。 該行維持騰訊2023及2024年盈利預測不變,維持「跑贏行業」評級,目標價475元。
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