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<Research Report>G Sachs: CN Game Industry Hails Multiple Positives, Recommends Tencent/ NetEase/ XD
Recommend 21 Positive 51 Negative 19 |
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Goldman Sachs stated its optimism about the China game industry in a research report. The broker cited multiple positive factors including increased revenue due to a relaxed regulatory environment, continued margin expansion as game publishers reduce channel costs, and emerging AIGC themes that will transform the entire game value chain by reducing R&D costs or speeding up the development of new games, which would enrich the immersion of existing games. Goldman said that since mid-April this year, the Chinese game industry has launched a number of high-quality new games. As of May, the total revenue contribution from these new games accounted for 15% of China's mobile game revenue. Among these new games, the broker estimated that most of them will see first-month revenue higher than expected. At the same time, however, the broker noted that investors are concerned whether the accelerated release of new games will put competitive pressure on legacy games, given the stagnant total game population and the limited time spent by users during the re-opening period. Goldman Sachs recommended TENCENT (00700.HK), NTES-S (09999.HK) and XD INC (02400.HK). AAStocks Financial News |
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