Investment points Our point of view: IGG's stock price has receded recently, but we don't think the company's fundamentals have changed much. The short-term flow rankings in various regions may fluctuate, but we are still optimistic about the company's development in the long term. The launch of the Android version of “Age of Kingdoms” will be a strong driving force for the game to rise in streaming. We expect operating income for 2017/2018 to be US$651 million and US$821 million, respectively, and net profit of US$184 and US$235 million, respectively, up 154% and 28% year-on-year, respectively. Maintaining the company's target price of HK$15.88, equivalent to 15/12 times PE in 2017/2018, maintaining the “buy” rating, there is room for improvement of 44.4% compared to the current price. Investors are advised to pay active attention. The Android version of “Age of Kingdoms” will be launched soon: According to the company's official website news, the domestic Android version of “Age of Kingdoms” will be launched on September 27. The Android version of “Kingdom Era” will have several major points: 1) The iOS version of “Kingdom Era” has been online in China for more than a year, contributing 30% of the game's turnover, so it has a certain player base and reputation in China. Previously, the company also opened a Sina Weibo account for the game to gather popularity ahead of time; 2) The Android version of “Kingdom Era” will retain the characteristics of iOS & Android data exchange, and added a WeChat account binding and login function in China, and added a payment function to connect with a WeChat account. Mainstream in China such as Bao and WeChat As for the payment method, in-game purchases will be more convenient; 4) The biggest appeal of this game lies in the “National War”. After more than a year of cultivation, the game has rich overseas players. The company's promotion focuses on “cracking crooked nuts,” which will stimulate the enthusiasm of domestic players to recharge. The monthly turnover growth rate of “Kingdom Era” is in line with expectations: “Kingdom Era” had a turnover of about 45 million US dollars in August, and the company's overall turnover revenue was about 60 million US dollars, in line with expectations. The game is being promoted in Europe, America, and Japan. The ranking of the game has fluctuated slightly, but the overall upward trend has not changed. Risk warning: “Age of Kingdoms” stream growth fell short of expectations; new game launches fell short of expectations.