UBS released a report pointing out that NTES-S (09999.HK) -3.600 (-2.437%) Short selling $181.05M; Ratio 18.834% 's heavyweight new game Naraka Bladepoint Mobile was officially launched yesterday (25 July). According to data from Qimai, the game ranked third on the iOS game bestseller list on the first day, surpassing Peaceful Elite, but ranking lower than Honor of Kings.
Given the strong performance of Naraka Bladepoint Mobile on debut, the broker believed that there is a high chance for the game's first-year grossing to reach the market expectation of about RMB1 billion, with risk skewed to the upside.
UBS estimated that market expectations for Naraka Bladepoint Mobile would further increase if it can maintain a third or higher ranking in the bestseller list for a longer period of time. The broker believed that the game would have a good lifespan due to the longevity of Naraka Bladepoint PC and the track record of other battle royale games.
UBS reiterated Buy on NetEase US shares (NTES.US) , with a target price of US$135.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)
