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IGG's 2024 Profit to Balloon 700%
IGG (00799.HK) profit alert: the net income for 2024 is expected to increase significantly by approximately 700% year-on-year, reaching around 0.58 billion HKD.
On February 7, Gelonghui reported that IGG (00799.HK) announced the expectation that the group will record a net income of approximately 0.58 billion Hong Kong dollars for the fiscal year 2024, while the group's net income for the fiscal year ending December 31, 2023, was approximately 0.073 billion Hong Kong dollars, representing a significant year-on-year growth of about 700%. In recent years, the group has achieved diversified development in game and APP business. For the fiscal year 2024, the group's three major growth engines—new game "Doomsday: Last Survivors," "Viking Rise," and APP business are expected to contribute approximately 1 billion Hong Kong dollars respectively.
IGG: Positive Profit Alert
Sensor Tower: 34 Chinese manufacturers made it to the January Global Mobile Game Publisher Revenue TOP 100, generating 2.33 billion USD.
In January 2025, a total of 34 Chinese manufacturers made it to the Global Top 100 Mobile Game Publishers revenue list, accumulating a revenue of 2.33 billion USD, accounting for 39.2% of the revenue of the global Top 100 mobile game publishers for this period.
IGG (799.HK): New games and APP Business are expected to drive profit improvement.
Driven by new game products and APP Business, we expect the company's 2024 revenue to grow by 9% year-on-year, with adjusted net margin increasing to 10.7%. The company has a rich reserve of game products, and it is recommended to pay attention to the launch of new games in the future.
In the "Big Bank," CICC's investment ratings and Target Prices for Chinese Network Technology stocks (Table).
CICC released a research report, listing the investment ratings and target prices for the Network Technology stocks as follows: Stock | Investment Rating | Target Price (HKD) TENCENT (00700.HK) | Outperform Industry | 468 HKD NetEase - S (09999.HK) | Outperform Industry | 180 HKD Kuaishou - W (01024.HK) | Outperform Industry | 66 HKD Bilibili - W (09626.HK) | Outperform Industry | 188 HKD Tencent Music - SW (01698.HK) | Outperform Industry | 52 HKD NetEase Cloud Music (0989