Giant Network(SZ:002558) Guoyuan Securities·2025-08-29 09:12Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected stock price increase of over 15% compared to the benchmark index [4]. Core Views - The company's revenue and profit showed steady growth in the first half of 2025, with a revenue of 1.662 billion RMB, up 16.47% year-on-year, and a net profit of 777 million RMB, up 8.27% year-on-year. The company also announced a cash dividend of 1.50 RMB per share, boosting investor confidence [2][4]. - The game "Supernatural Action Team" exceeded market expectations after its launch, achieving over 1 million concurrent players in July and maintaining a top 10 position in the iOS sales chart. The mature product line is performing steadily, with significant user growth in the "Journey" IP segment [3][4]. Financial Summary - For the first half of 2025, the company reported a revenue of 1.662 billion RMB, with a year-on-year growth of 16.47%. The net profit attributable to shareholders was 777 million RMB, reflecting an 8.27% increase. The second quarter saw a revenue of 938 million RMB, up 28.42% year-on-year, and a net profit of 429 million RMB, up 17.49% year-on-year [2]. - The company expects earnings per share (EPS) to be 1.09 RMB in 2025, 1.58 RMB in 2026, and 1.74 RMB in 2027, with corresponding price-to-earnings (PE) ratios of 28x, 19x, and 17x respectively [4][6]. - The financial forecast indicates a revenue of 4.761 billion RMB in 2025, with a year-on-year growth of 62.91%, and a net profit of 2.116 billion RMB, reflecting a 48.49% increase [6][11].