野村认为，中国儒意在腾讯支持下，向游戏发行/制作业务扩张，将成为公司长期销售及盈利的新增长动力。中国儒意透过万达电影对线上串流媒体和线下影院的初步投资，可在未来对其电影/电视制作及游戏方面产生新的协同效应。该行料中国儒意2023至2026财年的收入及盈利年均复合增长率各为22%。China Ruyi (00136) rose nearly 5%, as of the publication cut-off, it increased by 5.21%, closing at 2.21 Hong Kong dollars, with a turnover of 57.4777 million Hong Kong dollars.
According to the Wisdom Financial APP, China Ruyi (00136) rose nearly 5%, as of the publication cut-off, it increased by 5.21%, closing at 2.21 Hong Kong dollars, with a turnover of 57.4777 million Hong Kong dollars.
On the news front, market reports recently indicated that based on the expected revenue exceeding expectations from a gaming collaboration with Tencent, China Ruyi plans to increase the annual credit limit for its 2024 and 2025 receivables from 700 million yuan to 1300 million yuan. The growth in this revenue is mainly attributed to the increase in collaborative products. This proposal requires approval from independent shareholders, and a special shareholders' meeting is planned for voting.
Nomura believes that China Ruyi, with the support of Tencent, is expanding its gaming distribution/production business and will become a new long-term sales and profit growth driver for the company. China Ruyi, through Wanda Film, has made initial investments in online streaming media and offline cinemas, which may generate new synergies for its future film/television production and gaming. The bank expects China Ruyi's revenue and profit compound annual growth rate for the fiscal years 2023 to 2026 to be 22% each.
The bank further believes that China Ruyi's gaming brand, 'Jingshow,' will be the main growth driver for the company. Jingshow is mainly engaged in game development and operates several popular games supported by Tencent. As for the recent acquisition of Aurogon from ByteDance, it further enhances the company's gaming development capabilities.
