According to Zhito Finance App, $XD INC (02400.HK)$Currently up nearly 12%, as of the time of this report, up 11.92%, priced at 26.75 HKD, with a transaction volume of 0.166 billion HKD.

SWHY pointed out that in 2024, Taptap's domestic monthly active users are rebounding, driven by continuous supply increases in a regulatory easing environment; self-developed hit products are driving platform traffic growth. The logic of Taptap benefiting from industry supply expansion is relatively rare, considering the trend of license issuance, a continued upward trajectory in user scale is expected. In 2024, advertising commercialization is relatively restrained; aside from industry supply drivers, attention is drawn to the user value and gross margin increases brought by enhanced advertising precision.

The bank noted that in 2024, the explosive growth of self-developed products such as 'Maifen' and 'Little Town' has not fully reflected in the profit statement, with contract liabilities in the first half of 2024 amounting to 0.35 billion, supporting subsequent profit release; 'Maifen' and 'Little Town' are gradually entering a mature stage, focusing on long-term stability; in terms of self-developed new products for 2025, attention is drawn to the strategic turn-based RPG 'Essence Restart', current market expectations are not fully satisfactory.

Editor/ping