20230516-东方财富证券-百奥家庭互动-02100.HK-2022年报及动态点评_重点新品值得期待_积极拓展海外市场_6页_703kb

• Company's 2022 financial performance: Revenue increased by 62% to 939亿元, but net profit fell sharply by 61.54% to 1017万元 due to external factors like COVID-19 and game licensing delays. However, the company turned around losses in the second half of 2022.

• Core products drove success: The game "奥比岛：梦想国度" performed well, contributing to revenue growth, and helped reduce net losses compared to the first half of the year.

• New products and international expansion: "时序残响," a 3D role-playing game with high market anticipation, is expected to launch domestically in 2023 and could boost future growth. The company is actively expanding internationally, launching "食物语" in multiple languages.

• Investment outlook: The analysis recommends maintaining an "增持" rating, with revenue and profit projected to grow steadily over 2023-2025, supported by new game releases and market recovery.

Key risk factors to consider include uncertainties in new game performance, increased industry competition, and regulatory changes bearing on the gaming sector.