[ET Net News Agency, 10 February 2021] BOCOM International Research lifted its target
price for NetEase Inc (09999) to HK$230 from HK$204 and maintained its "buy" rating.
The research house said NetEase's three key PC games/IP-adapted mobile games have been
approved in the latest batch of imported games by the National Press and Publication
Administration on 9 February.
So far, the company has announced 28 games in the pipeline, with 13 of them approved,
including Harry Porter, EVE: Echoes, etc.
BOCOM said NetEase's top 10 legacy titles contribute 60%+ of total mobile game revenue
and are expected to sustain steady revenue growth with high user engagement and long life
cycles, thanks to its effective operation.
In addition, BOCOM expects its strong pipeline to be revenue-accretive. We are positive
on the potential of Diablo Immortal, given a strong IP and NetEase/Blizzard's operation
and design capabilities, but revenue contribution should be minimal in the short term.
(KL)
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09999 NTES-S
Nominal 
142.700 -0.200 (-0.140%) Research Report
10/02/2021 16:44
{I-bank focus}BOCOM lifts NetEase (09999) to HK$230; "buy"
| Remark: | Real time quote last updated: 19/04/2024 10:10 |
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