Gigabit (603444) quarterly report comments: new and old games make great efforts to promote rapid growth in performance

Gigabit (603444) quarterly report comments: new and old games make great efforts to promote rapid growth in performance

杭州桑拿网Gigabit (603444) quarterly report comments: new and old games make great efforts to promote rapid growth in performance

Investment Highlights Event: The company released its 2019 first quarter report.

Opinion: New and old games are working together, and revenues are growing rapidly.

1) Company revenue 5.

0.6 million yuan, an increase of 33 in ten years.

09%, net profit attributable to mother 2.

13 ppm, an increase of 38 in ten years.

87%, net profit after returning to mother 2.

One million yuan, an annual increase of 42.

53%; 2) The steady growth of performance is mainly due to the revenue growth of “Ask Mobile Games” and the revenue contributed by new games such as “Greedy Cave 2” and “Crossing the Star Arc”.

“Ask” is the best performer, with plenty of new games.

1) In-operation games include “Ask 北京夜网 Mobile Games”, “Unbelievable Maze”, “Greedy Cave 2”, etc., of which “Ask Mobile Games” has the most outstanding contribution to performance; 2) The company has a rich reserve product, including “Puppet Museum QiFantasy Night “,” The Guardian of the Force “,” Irona “,” Lost Castle “,” Never Abandon: Black Hole “,” The Land of Alienation “,” Magic Trap 2 “,” Adventure and Abyss “,””Spirit of Flower”, “Marriage of the Spirit Night”, “City of Two Realms” and other products; 3) “Fantastic Night of the Puppet Museum”, “Guardian of the Force”, “Irona”, “Lost Castle””, “Never Give Up: Black Hole”, “The Land of Alienation” has obtained the edition number.

Profit forecast: The mobile game of “Ask” is stable, Roguelike elementary games are continuously launched to continuously increase revenue and profits, and transformed into the company ‘s successful experience of Roguelike elementary games, copied to more boutique games, and future performance is expected to further open.

Estimated net profit for 2019/20/21 is 7.

98/9.

23/11.

10,000 yuan, corresponding to 20/17/14 times the daily PE on April 26, of which the “prudent increase” rating.

Risk warnings: 1) New games are not up to expectations; 2) Industry competition is intensified; 3) Policy supervision is intensified.