Glonghui, May 27 | CICC released a report indicating that the first quarter results of Jinshan Software are basically in line with this forecast. Game business revenue fell 1% a year to 912 million yuan, mainly due to a natural decline in current game revenue, partially offset by the revenue contribution of “World of Sword Man: Origins” released in the second half of last year. In terms of mobile games, the “Sword Net 3” documentary “Scavenger Hunt 3” began public beta on April 25; according to the company's performance announcement, “Sword Net 3 Unbounded” is expected to be launched on all platforms in June this year. The bank expects the launch of the multi-terminal interactive version to further increase the activity of existing players and promote the return of old players. In terms of mobile games, “Dusky White Forbidden Zone” performed positively after the launch of the new version in April, and CICC expects that its outstanding performance in terms of daily active users and turnover will continue. According to management, game revenue is expected to record a 10% year-on-year increase throughout the year. Considering that the game business performance exceeded expectations, CICC raised Jinshan Software's revenue forecast for next year by 2% and 3% to 9.92 billion yuan and 11.7 billion yuan respectively; in view of the increase in high-margin game revenue contributions, the net profit forecast was increased by 8% and 10% to 1.01 billion yuan and 1.37 billion yuan, respectively. The bank maintains a “outperforming the industry” rating and a target price of HK$30.