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BOCOM Intl: Netease (NTES.US) new game schedule enhances performance growth certainty in "Da Hang".
BOCOM Intl released a report stating that Netease's mobile game "Endless Hegemony" is scheduled to launch on July 25th, with over 30 million pre-registrations across the entire network. It is estimated to become the main driving force for mobile game growth in the third quarter. The mobile game is optimized for mobile device operations, solving the difficult points of operation for fighting games on touch screens. The bank estimates that in the third quarter and this year, the revenue from the "Endless Hegemony" mobile game will reach RMB 2 billion and RMB 4.4 billion respectively, contributing 8% and 5% to the company's mobile game revenue. The bank expects that Netease's mobile game revenue will increase by 15% annually in the second quarter and decrease by 9% quarterly, mainly due to seasonal factors and new games in the second quarter.
Bocom intl: Maintains buy rating on Netease-S (09999), target price of HKD 182.
BOCOM Intl estimates that Eternal Requiem, a mobile game by Netease-S (09999), will contribute 8% and 5% of the company's mobile game revenue in the third quarter of 2024 and in the long run, respectively.
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