CMGE Technology Group - Stock Analyst Research

Target Price*HKD 3.00
Recommendation BUY
Market Cap*5.753B
Publication Date24 May 2023

*At the time of publication

中手游(302.HK) 新遊陸續上線 收入迎來復甦

公司簡介
中手游是全球化 IP 遊戲生態公司,截至 2022 年 12 月 31 日,集團擁有龐大的 IP 儲
備,包括 64 個授權 IP 及 68 個自有 IP,共計 132 個。根據 Analysys(易觀智庫)數據顯
示,除騰訊遊戲外,集團是擁有 IP 儲備數量最多的中國遊戲發行商,以及過往兩年中
推出最多的移動 IP 遊戲數量的中國遊戲發行商。集團的收入來源主要來自三部分,分
別為遊戲發行丶遊戲開發以及知識產權(IP)授權。
公司 2022 全年業績點評
公司 2022 年的收入為 27.1 億元(人民幣,下同),同比下跌 31.4%。銷售成本為 16.0 億
元,同比下降 35.5%。毛利為 11.1 億元,同比下跌 24.6%。毛利率為 41.0%,同比輕
微上升 3.7 個百分點。期內歸屬於母公司擁有人應佔虧損 2.1 億元,同比由盈轉虧。經
調整淨虧損為 2.0 億元,同比由盈轉虧。

About the author

Elvis Kwok
Analyst
Research

香港恒生大學金融分析一級榮譽畢業,具有股票研究、技術分析和投資經驗。現為輝立証券持牌分析師,主要負責遊戲?娛樂?食品等板塊研究。 Elvis holds a BBA degree with first class honor major in Financial Analysis at the Hang Seng University of Hong Kong. He has experience in equity research, technical analysis and investment experience. He is currently a licensed research analyst at Phillip Securities and mainly covers Gaming, Entertainment and Food sectors.

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