遊戲出海“卷翻”!冰川網絡預計2024年由盈轉虧,Q4實現盈利
今日,冰川網絡開盤大升12%,最新報21.43元/股,總市值50.23億元,近四個交易日累計升超18%。

由盈轉虧
昨日晚間,冰川網絡公吿,預計2024年的歸母淨利潤為-2.4億元至-3.4億元,同比下降187.83%-224.43%,去年同期為盈利2.73億元;
扣非淨利潤為2.9億元-4.1億元,同比下降243.54%-302.94%,去年同期為盈利2.02億元。

對於影響業績變動的原因,冰川網絡表示,公司在海外市場和新產品的投入較大,運營成本增加。
報吿期內,公司對海外市場及新上線產品的投放力度顯著增強,其中《Hero Clash》《Epic War》《Titan War》《Kingdom Go!》《逍遙情緣》《Merge Topia》等投放力度較大,公司銷售費用增長,運營成本增加。隨着公司海外市場流量費用大幅提升,海外投放回收週期相比國內發行產品回收週期更長,兼之公司《X-hero》《超能世界》《Hero Clash》等受遊戲生命週期延長的影響,收入確認週期延長。截至2024年12月31日,報吿期內公司非經常性損益金額約為6300萬元,主要為政府補貼及存款理財收益。
近年來,冰川網絡雖偶有出現淨利潤虧損的情況,但虧損幅度都不如2024年的大。
2021年-2023年,冰川網絡分別實現淨利潤-6307.37萬元、1.29億元、2.73億元,同比-173.58%、304.3%、112.05%。

不過,以此次披露的預吿來看,冰川網絡的大額虧損主要是集中在上半年,2024年第四季度反而保持了盈利狀態。
其中,Q1虧損4.46億元、Q2虧損6962萬元、Q3盈利4820萬元,Q4預計盈利約1.3億元-2.3億元。
積極出海
冰川網絡是國內專業從事網絡遊戲研發、發行與運營為一體的網絡遊戲企業之一,產品結構主要包括客户端網絡遊戲和移動類遊戲兩大類型,擁有包括“遠征”、“龍武”等多款精品客户端及移動類遊戲產品。
分析來看,網遊行業經過多年的發展,遊戲廠商的資源已經高度集中,頭部效應非常明顯,騰訊、網易、米哈遊等頭部企業佔據大部分市場份額,而冰川網絡的市場佔有率較低。
為了尋求突破,冰川網絡近年來積極推行出海戰略,持續加大海外推廣力度。
不過,遊戲出海這塊也比較卷,冰川網絡不得不加大投放力度,導致公司的運營成本增加,同時,海外投放週期更長。
2024年前三季度,冰川網絡的銷售費用為19.11億元,同比增長36.23%。
大額的投入還是帶來了一定的回報。2023年,冰川網絡的境外收入佔年度總收入的29%,2024年上半年,這一佔比已提升至46%。
Follow us
Find us on
Facebook,
Twitter ,
Instagram, and
YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the
uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!

Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.