Gelonghui, November 21 | Credit Lyonnais released a report stating that kingsoft's gaming business had surprises, with third-quarter game revenue and profit exceeding expectations, as game revenue grew 78% year-on-year. The firm noted that the company's game performance has been exceptionally strong this year, likely establishing a high base for the fiscal year 2025, while the momentum for five new games in 2025 remains solid. Credit Lyonnais raised kingsoft's profit forecasts for 2024 and 2025 by 26% and 14% respectively, reflecting an upward adjustment in the gaming business forecast. Due to the change in predictions and the potential for better synergies between Xiaomi and kingsoft's ecosystem under the updated framework agreement, the holding company’s discount has decreased, raising the target price from HKD 29.5 to HKD 37.2, while maintaining an "outperform" rating.