Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3] Core Views - The collaboration between Blizzard and the company has been reestablished, with Blizzard's games set to return to the Chinese market in summer 2024, which is expected to boost the company's revenue and performance [3] - The company has a rich pipeline of quality products, including several games that have already received approval, which are anticipated to support sustained revenue growth [4] - The company is actively enhancing its global market presence and AAA game development, which may further expand its gaming business growth potential [5] Financial Summary - Revenue (in million) is projected to grow from 96,496 in 2022 to 118,125 in 2024, reflecting a year-over-year growth of 14.2% [6] - Net profit (in million) is expected to increase from 20,338 in 2022 to 33,862 in 2024, with a year-over-year growth of 15.1% [6] - The company's gross margin is projected to improve from 54.7% in 2022 to 61.7% in 2024, while the net margin is expected to remain stable around 28% [6] - Earnings per share (EPS) is forecasted to rise from 6.3 in 2022 to 10.5 in 2024 [6] - The current price-to-earnings (P/E) ratio is projected to decrease from 23.2 in 2022 to 14.0 in 2024 [6] Market Data - The current stock price is HKD 158.80, with a market capitalization of HKD 5,274.19 billion [7]
港股公司信息更新报告:与暴雪合作重启,自研、代理、出海齐发力