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02400 XD INC
RTNominal down58.000 -1.200 (-2.027%)
Research Report

09/12/2020 14:55

{I-bank focus}JP Morgan starts XD Inc. (02400) at HK$38

[ET Net News Agency, 9 December 2020] J.P. Morgan initiated coverage on XD Inc. (02400)
with a "neutral" rating and a target price of HK$38.
XD is a leading game publisher/developer in China and the owner of TapTap, a leading
mobile game-sharing community that recommends high-quality games.
The research house is positive on (1) TapTap's long-term monetization value through
mobile game promotion; (2) TapTap's ability to help XD Inc. promote its games at a
relatively low cost as an inhouse distribution channel; and (3) XD Inc.'s track record in
publishing various successful titles (Ragnarok M, Ulala and Sausage Man).
But JPM is cautious because (1) XD Inc. hasn't launched a second in-house mobile game
after Ragnarok M, and its key in-house titles, such as Torchlight: Infinity/Fantasy World,
won't be launched until 2H 2021 - therefore, there is no major mobile game launch for
TapTap in the next six months. (KL)

Remark: Real time quote last updated: 07/05/2021 17:59
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