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交银国际:维持金山软件(03888)“中性”评级 目标价31港元

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交银国际发布报告称,维持金山软件(03888)“中性”评级,目标价31港元,短期增长潜力已反映在公司当前估值中。公司2023年第三季收入及调整后净利年增12%及22%,较该行预期低13%及21%,主要因WPS及游戏业务表现不如预期,且新游戏上线的销售开支高于预期。

报告中称,公司管理层维持2023全年游戏收入个位数增长预期,第四季是《剑网3》端游旺季,预计仍将维持稳健增长,但会被其他游戏衰减部分抵销。该公司计划在2024年上半年推出手游《剑网3无界》,预计将成为2024年游戏收入增长的主要动力。

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