$CM BANK(03968)$-To The Moon - Tiger Brokers Online Investing Community - To The Moon

1
Comment
Favorite

$CM BANK(03968)$

[Brokerage Focus] Bank of Communications International maintains NetEase's buy rating, indicating that game revenue in the first quarter beat expectations

金吾财讯 | 交银国际研报指，网易 2025年1季度收入同比增7%，符合彭博及VA一致市场预期，其中游戏业务同比增15%，较VA一致预期高5%，部分被增值服务收缩抵消。调整后净利润为112亿元人民币，同比增32%，较彭博及VA一致预期高25%，调整后运营利润同比增34%，较VA一致预期高21%。净利润率提升好于预期，主要反映公司聚焦核心业务及营销开支下降。该行指，1季度游戏好于预期，有效费控带动利润大幅超预期。

[Brokerage Focus] Bank of Communications International maintains NetEase's buy rating, indicating that game revenue in the first quarter beat expectations

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

1

Report

Comment

Top
Latest

empty

No comments yet

Most Discussed

{"i18n":{"language":"en_US"},"data":{"magic":2,"id":436639150415920,"tweetId":"436639150415920","gmtCreate":1747637545414,"gmtModify":1747638275921,"author":{"id":4208672891436362,"idStr":"4208672891436362","authorId":4208672891436362,"authorIdStr":"4208672891436362","name":"savannaj","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[],"fanSize":0,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"html":"<html><head></head><body><p><a href=\"https://ttm.financial/S/03968\">$CM BANK(03968)$&nbsp;</a>&nbsp;</p></body></html>","htmlText":"<html><head></head><body><p><a href=\"https://ttm.financial/S/03968\">$CM BANK(03968)$&nbsp;</a>&nbsp;</p></body></html>","text":"$CM BANK(03968)$","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/436639150415920","repostId":2536553544,"repostType":2,"repost":{"id":"2536553544","kind":"news","pubTimestamp":1747618109,"share":"https://ttm.financial/m/news/2536553544?lang=en_US&edition=fundamental","pubTime":"2025-05-19 09:28","market":"hk","language":"zh","title":"[Brokerage Focus] Bank of Communications International maintains NetEase's buy rating, indicating that game revenue in the first quarter beat expectations","url":"https://stock-news.laohu8.com/highlight/detail?id=2536553544","media":"金吾财讯","summary":"金吾财讯 | 交银国际研报指，网易 2025年1季度收入同比增7%，符合彭博及VA一致市场预期，其中游戏业务同比增15%，较VA一致预期高5%，部分被增值服务收缩抵消。调整后净利润为112亿元人民币，同比增32%，较彭博及VA一致预期高25%，调整后运营利润同比增34%，较VA一致预期高21%。净利润率提升好于预期，主要反映公司聚焦核心业务及营销开支下降。该行指，1季度游戏好于预期，有效费控带动利润大幅超预期。","content":"<p><html><body><article>Jinwu Financial News |<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>According to the research report,<a href=\"https://laohu8.com/S/NTES\">NetEase</a>(09999) Revenue in the first quarter of 2025 increased by 7% year-on-year, in line with Bloomberg and VA consensus market expectations. Among them, the game business increased by 15% year-on-year, 5% higher than VA consensus expectations, partially offset by the contraction of value-added services.<a href=\"https://laohu8.com/S/DAO\">Youdao</a>/Cloud Music/Innovation and other revenue fell 7%/8%/18% year-on-year. After adjustment<span>Net profit</span>It was 11.2 billion yuan, a year-on-year increase of 32%, 25% higher than Bloomberg and VA consensus expectations, and adjusted operating profit increased 34% year-on-year, 21% higher than VA consensus expectations. The increase in net profit margin was better than expected, mainly reflecting the company's focus on core business and the decline in marketing expenses.</p><p>The bank pointed out that the game in the first quarter was better than expected, and effective cost control drove profits to significantly exceed expectations. The growth of client games has accelerated, and the decline of mobile games has narrowed. \"Marvel Competition\", \"Sixteen Sounds of Yanyun\" and \"Identity V\" have promoted business growth. Based on the improving game trend and effective cost control, the bank raised its game revenue in 2025 by 1.9%/adjusted net profit by 5.6%. Based on the company's overall P/E of 18 times in 2025, the bank raised its target price from US $124/HK $193 to US $143/HK $223, maintaining a buy rating.</p><p></article></body></html></p>","source":"tencent","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>[Brokerage Focus] Bank of Communications International maintains NetEase's buy rating, indicating that game revenue in the first quarter beat expectations</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n[Brokerage Focus] Bank of Communications International maintains NetEase's buy rating, indicating that game revenue in the first quarter beat expectations\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金吾财讯</strong><span class=\"h-time small\">2025-05-19 09:28</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><body><article>Jinwu Financial News |<a href=\"https://laohu8.com/S/03329\">BOCOM International</a>According to the research report,<a href=\"https://laohu8.com/S/NTES\">NetEase</a>(09999) Revenue in the first quarter of 2025 increased by 7% year-on-year, in line with Bloomberg and VA consensus market expectations. Among them, the game business increased by 15% year-on-year, 5% higher than VA consensus expectations, partially offset by the contraction of value-added services.<a href=\"https://laohu8.com/S/DAO\">Youdao</a>/Cloud Music/Innovation and other revenue fell 7%/8%/18% year-on-year. After adjustment<span>Net profit</span>It was 11.2 billion yuan, a year-on-year increase of 32%, 25% higher than Bloomberg and VA consensus expectations, and adjusted operating profit increased 34% year-on-year, 21% higher than VA consensus expectations. The increase in net profit margin was better than expected, mainly reflecting the company's focus on core business and the decline in marketing expenses.</p><p>The bank pointed out that the game in the first quarter was better than expected, and effective cost control drove profits to significantly exceed expectations. The growth of client games has accelerated, and the decline of mobile games has narrowed. \"Marvel Competition\", \"Sixteen Sounds of Yanyun\" and \"Identity V\" have promoted business growth. Based on the improving game trend and effective cost control, the bank raised its game revenue in 2025 by 1.9%/adjusted net profit by 5.6%. Based on the company's overall P/E of 18 times in 2025, the bank raised its target price from US $124/HK $193 to US $143/HK $223, maintaining a buy rating.</p><p></article></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250519093752a6e402a1&s=b\">金吾财讯</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"09999":"网易-S"},"source_url":"http://gu.qq.com/resources/shy/news/detail-v2/index.html#/?id=nesSN20250519093752a6e402a1&s=b","is_english":false,"share_image_url":"https://static.laohu8.com/9a95c1376e76363c1401fee7d3717173","article_id":"2536553544","content_text":"金吾财讯 | 交银国际研报指，网易(09999)2025年1季度收入同比增7%，符合彭博及VA一致市场预期，其中游戏业务同比增15%，较VA一致预期高5%，部分被增值服务收缩抵消。有道/云音乐/创新及其他收入同比跌7%/8%/18%。调整后净利润为112亿元人民币，同比增32%，较彭博及VA一致预期高25%，调整后运营利润同比增34%，较VA一致预期高21%。净利润率提升好于预期，主要反映公司聚焦核心业务及营销开支下降。该行指，1季度游戏好于预期，有效费控带动利润大幅超预期。端游加速增长，手游跌幅收窄，《漫威争锋》、《燕云十六声》及《第五人格》推动业务增长。基于游戏趋势向好及有效费控，该行上调2025年游戏收入1.9%/调整后净利润5.6%，基于公司整体18倍2025年市盈率，该行将目标价从124美元/193港元上调至143美元/223港元，维持买入评级。","news_type":1,"symbols_score_info":{"09999":1}},"isVote":1,"tweetType":1,"viewCount":199,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":15,"optionInvolvedFlag":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}