A quick look | In Q3, china's gaming industry revenue reached 91.766 billion yuan, hitting a record high.
Gamma Data and Game Committee jointly released the Q3 China Gaming Industry Report.
Sensor Tower: In September, a total of 35 Chinese manufacturers made it to the top 100 global mobile game publishers revenue list, with a total revenue of $1.91 billion.
In September, several popular mobile games under miHoYo saw varying degrees of growth, with a 33% increase in global revenue in this period, moving up to 3rd place on the revenue list of Chinese mobile game publishers.
Netease's mobile game "Dawn of the Code" will cease operation on December 12th.
On October 16, Gelonhui announced that due to the game's performance falling short of expectations, its hero shooting fair competitive mobile game "Tianqi Action" is scheduled to officially shut down on December 12 this year. At that time, the server will be closed, and players will be unable to log in. This decision to shut down was made after a comprehensive evaluation of market performance and user feedback. "Tianqi Action" started its cross-platform public beta on August 30, with multiple version updates and optimizations.
[Brokerage Focus] Bocom Intl maintains a buy rating on netease (09999), expecting pressure on mobile games growth in the third quarter.
Golden Finance News | Bocom Intl released the netease (09999) third-quarter performance outlook, expecting a 4% year-on-year decrease in total revenue to 26.3 billion yuan (RMB, the same below), with an expected adjusted net income of 7.4 billion yuan. The bank expects the growth rate of PC games to turn positive year-on-year, while mobile games are declining due to the impact of a high base last year. 'Fantasy Westward Journey' PC game stopped falling quarter-on-quarter, with year-on-year fluctuations offset by the return of 'World of Warcraft' national server and the launch of 'Seven Days World', achieving a year-on-year growth in total PC game revenue. Due to fluctuations in game revenue, the bank lowered its 2024 revenue/profit forecast by 2%/3%, influenced by the launch cycle of explosive hit games, netease mobile
Express News | U.S.-Listed Shares of Chinese Firms Fall Tracking Declines in Domestic Stocks
Express News | netease's new game 'Doomsday Operation' was shut down after only 45 days of operation.
Express News | Li Auto Down 4.7%, JD.com Down 6.4%, NIO Down 3.8%, Xpeng Down 2.5%
Express News | PDD Holdings Down 4.2%, NetEase Down 3.4%, Baidu Down 3.6%
Major banks' ratings | Goldman Sachs: China's internet-related valuations are still reasonable. Reiterate Tencent as the industry's top choice.
格隆汇October 15th | Morgan Stanley's report pointed out that the valuation of China's internet industry is still reasonable. Due to the time required for supportive policies to be converted into consumer and business confidence, it is believed that the potential upside in profit forecasts for the second half of this year to next year is still uncertain, even for certain cyclical sectors. Revenue growth forecasts for China's internet industry in 2025 remain unchanged, with the firm expecting a 7% increase in mainland e-commerce commodity transactions (GMV), an 8% increase in advertising revenue, a 19% increase in total local service transactions (GTV), and a 12% increase in online travel agency (OTA) revenue. The firm's industry preferences are ranked in the following order.
Nomura: The valuation of China's Internet is still reasonable, with Tencent (00700.HK) as the top choice, followed by Meituan (03690.HK) and Ctrip (TCOM.US).
Morgan Stanley's report pointed out that the mainland's People's Bank meeting and Political Bureau meeting at the end of September both indicated a significant policy shift towards the weak economy, but the meetings of the National Development and Reform Commission on October 8th and the Ministry of Finance on October 12th failed to meet market expectations, further strengthening the bank's view that the mainland's debt, population, and deflation will still face challenges in the future, that is, the situation of debt-deflation cycle, especially when consumer stimulation fails to meet expectations. The bank believes that the valuation of China's internet companies is still reasonable. As it takes time for supportive policies to translate into consumer and business confidence, it is believed that even for certain cyclical sectors, from the second half of this year to next year
Hong Kong stock market morning report on October 15: US-listed china concept stocks generally fell, Huang Tianyou appointed as the Chairman of the Hong Kong Securities and Futures Commission.
1. Federal Reserve Board member Waller stated that interest rates may be cut earlier if inflation falls below 2%. 2. OPEC has lowered its oil demand growth forecast for the third consecutive month, leading to a more than 2% decline in international crude oil futures prices. 3. The newly appointed Chairman of the Hong Kong Securities and Futures Commission, Huang Tianyou, stated that he will foster a sustainable and active capital market. 4. The three major U.S. stock indexes all closed higher, while china concept stocks in the popular sector generally declined.
US stocks close: S&P, Dow hit new historical highs again Chinese stock index falls more than 2%.
① China concept stocks are generally falling, with the Nasdaq Golden Dragon Index in China down 2.09%; ② Media reports: Tesla's Optimus was remotely controlled at the launch event; ③ Qualcomm's Snapdragon 8 Gen4 chip is highly bullish; ④ Adobe launches Wensheng video AI model, challenging OpenAI and Meta.
Shares of US-listed Chinese Stocks Are Trading Lower on Continued Weakness Amid Stimulus Uncertainty.
Destiny: Rising Is Bungie's New Mobile Game Published by NetEase Games
Express News | Alibaba Down 1.6%, Bilibili Down 2.4%, Tencent Music Entertainment Down 1.7%
U.S. stocks fluctuate|Netease fell more than 3.3% in pre-market trading. Institutions point out that its short-term gaming business revenue is under pressure.
October 14th, Netease (NTES.US) fell more than 3.3% in pre-market trading to $85.38. In terms of news, bocom intl released a research report stating that in September, the sum of local top mobile game revenue tracked by the bank increased by 2% year-on-year, further slowing down compared to the growth rates in July/August (14%/5%). The bank pointed out that Netease's short-term revenue is under pressure, with a net decrease of 4.1 billion yuan/30% in local mobile game revenue in September, mainly due to the high base of "Justice" being partially offset by the increase in revenue from "Identity V" and "Identity V"; overseas revenue decreased by 13%/0.1 billion yuan year-on-year, affected by the high base of "Harry Potter".
Express News | Some popular China concept stocks fell in pre-market trading, xpeng dropped over 4%, netease dropped over 3%; 3x long FTSE China ETF-Direxion fell nearly 4% before the market opened.
Futu Morning Post | Hong Kong stocks heavy! Hong Kong Chief Executive John Lee Ka-chiu will deliver her third policy address in office; Can Nvidia reach a new high? Morgan Stanley reveals: Blackwell's future one-year supply has been sold out.
The Ministry of Finance has released an important signal! It will introduce a package of incremental policy measures; the first china stocks etf's net assets have exceeded one hundred billion, overseas institutions emphasize the undiminished valuation advantages; the stock buyback trend in the Hong Kong stock market continues! Tencent is expected to complete the billion-dollar buyback ahead of schedule.
US stocks closed: on the two-year anniversary of this bull market, the S&P and Dow hit new highs, while Chinese stocks collectively strengthened.
①The s&p 500 index welcomes the second anniversary of the bull market, and on Friday, for the first time in history, it stood above the 5800 point integer mark; ②The nasdaq China Golden Dragon Index has risen for two consecutive days; ③Tesla fell by 8%, while uber technologies and Lyft strengthened; ④Boeing announced a 10% workforce reduction.
Is NetEase Inc. (NTES) the Ultimate Investment Play in the Booming Mobile Gaming Market?