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Hong Kong stocks movement | IGG (00799) rose over 5% during trading. The new games and APP Business are expected to drive profit improvement. The company has a rich reserve of game products.
IGG (00799) rose over 5% during the trading session, and as of the time of writing, it is up 3.94%, priced at 3.96 Hong Kong dollars, with a transaction amount of 11.4942 million Hong Kong dollars.
[Brokerage Focus]浦银国际 maintains a Buy rating on IGG (00799), stating that new games and APP Business are expected to drive profit improvement.
Golden Finance News | Shanghai Pudong Development Bank International released a Research Report stating that thanks to the strong game products and APP Business, it is expected that IGG (00799) will achieve a revenue of 5.72 billion yuan in 2024, a year-on-year increase of 9%; adjusted Net income will improve to 0.61 billion yuan, and the adjusted net margin will increase to 10.7%. The core product "State of Survival" is expected to maintain relatively stable revenue in the second half of 2024 due to gameplay adjustments and content updates. The blockbuster game products "Doomsday: Last Survivors" (DLS) and "Viking Rise" (VR) are expected to be released in the second half of 2024.
Is the surge of digital force at the BSE a sign that the gaming industry will finally break the ice for listings?
The biggest customer is Tencent.
IGG (HKG:799) Will Be Hoping To Turn Its Returns On Capital Around
In December, both domestic and imported game licenses were released! A total of 1416 licenses have been issued this year, the highest in the past five years.
① A total of 122 domestic games and 13 imported new games were approved today, marking the third consecutive month of simultaneous issuance of domestic and imported game licenses. Major games from Tencent and NetEase received approvals, along with several other publicly listed game companies also achieving gains. ② As of the time of writing, 1,416 new games have obtained licenses this year, the highest total in nearly five years.
Sensor Tower: In November, 35 Chinese mobile game companies collectively earned 1.87 billion USD, accounting for 34.8% of the income of the Global TOP 100 mobile game publishers.
The Sensor Tower store intelligence platform shows that in November 2024, 35 Chinese companies made it to the Global mobile game publisher revenue ranking TOP 100, collectively earning 1.87 billion dollars, accounting for 34.8% of the total revenue of the Global TOP 100 mobile game publishers this period.
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