Giant Network(002558) 东吴证券·2025-01-06 03:15Investment Rating - The report maintains a "Buy" rating for the company [1] Core Views - The official release date for the game "Original Journey" is set for January 10, 2025, with a brand ambassador announced [8] - The company has shown stable performance in existing games, with expectations for the new game and its official version to drive revenue growth [8] - The launch of the "QianYing" AI game generation model is expected to enhance the company's capabilities in content creation and game interaction [8] - The company is actively exploring new game genres and AI integration, which is anticipated to lead to breakthroughs in gameplay [8] Financial Summary - Total revenue is projected to grow from 2,924 million RMB in 2023 to 3,669 million RMB in 2026, with a compound annual growth rate (CAGR) of approximately 6.05% [1] - Net profit attributable to the parent company is expected to increase from 1,086 million RMB in 2023 to 1,715 million RMB in 2026, reflecting a CAGR of about 8.25% [1] - The earnings per share (EPS) is forecasted to rise from 0.56 RMB in 2023 to 0.89 RMB in 2026 [1] - The price-to-earnings (P/E) ratio is projected to decrease from 20.69 in 2023 to 13.11 in 2026, indicating improving valuation [1]