20230911-东方财富证券-中手游-00302.HK-2023年中报点评_H1扭亏为盈_产品周期开启_4页_408kb

Summary of China Collision (00302HK) 2023 Mid-Year Report
The company achieved a significant turnaround in its H1 2023 performance, with revenue growing by 246% year-over-year to 15.35 billion HKD. Operations shifted from net loss to profit, with a 56.82 million HKD gain in net profit versus a 21.9 million HKD loss a year earlier. Key drivers include the successful launch of eight new games in H1 2023, such as "吞噬星空：黎明" and "新仙剑奇侠传之挥剑问情," which achieved top AppStore rankings. Average monthly active users surged by 223% to 156.27 million, and average paid users increased by 202% to 11.32 million, with ARPU rising by 36%. R&D expenditure jumped 306% to 26.7 billion HKD, supporting future releases like the open-world "仙剑世界." Financial projections foresee continued growth with a "Buy" recommendation and target price increased to 378 HKD per share.管理费用