Communication Dec 24, 2020 11:24 AM (GMT+8) · EqualOcean
According to a research report released by Citigroup, the company maintains the "neutral" rating of IgG, and believes that Kingdom era has a stable momentum. However, the visibility of the new games "fantasy book story" and "gunfight in a different world" is still low. It is estimated that Kingdom era will contribute 90% and 74% of revenue in the second half of this year and next year. Therefore, it is believed that the company's over reliance on this game will have a high risk. The bank lowered its target price of IgG from HK $10 to HK $9.7, and adjusted the company's earnings per share for 2020-22 by 0%, - 6% and 2% respectively to reflect the impact of marketing expenses brought about by the launch of new games next year.

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