华兴资本：将心动公司目标价上调至80港元

Core Viewpoint - Huaxing Capital's research report highlights that Xindong Company experienced a 39% year-on-year revenue growth in the first half of the year, with adjusted net profit surging by 235%, primarily driven by the growth in gaming and TapTap businesses, aligning with the company's pre-profit announcement [1] Financial Performance - The report indicates that the robust performance in the interim results is attributed to effective control of marketing expenses [1] - The gaming business achieved a 39% annual growth, while the TapTap business increased its growth through improved conversion efficiency and user engagement [1] Valuation and Rating - Based on a projected price-to-earnings ratio of 18 times for next year, the target price has been raised to HKD 80, while maintaining a "Hold" rating [1]