Core Viewpoint - The report from CICC indicates that Xindong Company forecasts a year-on-year revenue growth of over 37% and a net profit growth of over 215% for the first half of this year, outperforming both the bank's and market expectations [1] Group 1: Financial Performance - The company's revenue and net profit margins from "Ragnarok: Origin" exceeded expectations [1] - TapTap's revenue and profit margins also performed better than anticipated [1] Group 2: Future Outlook - The company has solid gaming profit margins, with upcoming releases to watch including "Yise" on September 25, "Little Town" overseas, and the core product "RO2" set for its first test in 2026 [1] - CICC has raised its net profit forecasts for Xindong by 66% and 81% for this year and next, respectively, to 1.65 billion and 1.95 billion yuan [1] Group 3: Valuation - The current stock price corresponds to a projected price-to-earnings ratio of 15 times for this year and 13 times for next year [1] - The target price has been increased by 49% to 82.5 HKD, maintaining an "outperforming the industry" rating [1]