Glonghui September 12 | Debon Securities released a research report stating that it maintains NetDragon's “buy” rating. Taking into account the business situation in the first half of the year, the net profit forecast for 2023-2025 was adjusted to 9/10.3/1.12 billion yuan, an increase of 8%/15%/8% over the previous year. In the 2023H1 financial report, the company achieved revenue of 3.7 billion yuan, an increase of 2% over the previous month; realized net profit of 500 million yuan, an increase of 86% over the previous month; the revenue and profit side all picked up compared to 22H2. The bank mentioned that the revenue and profit side of the NetDragon game business has clearly rebounded. The flagship Magic Domain performed steadily. Mobile game revenue increased 10% year over year and 22% month on month in the first half of the year; mobile game revenue increased 10% year on year and 11% month on month. Looking forward to the future, the company stocks products such as “Magic Domain Remastered” and “Magic Domain Mobile Game 2 Overseas Edition” in Pipeline, and is expected to launch it in 2024 to further prosper IP vitality. The company plans to launch the first software subscription service combined with a Prometheus tablet by the end of the year, integrate AI capabilities, and achieve profit through a subscription system.