KGI: Winking Studios Limited (revised target price of S$0.35
We reiterate our OUTPERFORM recommendation and a revised target price of S$0.35 based on a DCF valuation method. Growth through acquisition • Continued M&A strategy to drive inorganic growth. Since its IPO, Winking Studios has strategically expanded its presence in Asia through the acquisition of two art outsourcing studios in Taiwan and Malaysia. This aligns with the company’s broader strategy of utilizing mergers and acquisitions to strengthen its position as a market leader in the art outsourcing industry. Its successful placement of new shares further supports its ongoing efforts to grow its market position through strategic acquisitions. • Organic growth in the Japanese market. 1H24 revenue grew 7.1% YoY to US15.2mn from US$14.2mn in 1H23, driven by a surge in orders from both its
Monopoly GO! -- has become one of the top mobile games of all time and grossed billions in revenue since it launched last year. Hasbro has also acquired Wizards of the Coast, the makers of Magic: The Gathering, and they own the best-selling video game Baldur's Gate 3. So why is gaming such a big growth market for a traditional toymaker? Where's the market heading? And how does a big company judge the success of freemium apps like Monopoly GO!? https://www.bloomberg.com/news/articles/2024-08-09/hasbro-ceo-on-the-toymaker-s-digital-gaming-push
Microsoft unveils all-digital Xbox consoles, ‘Doom’ title at
MICROSOFT kicked off its annual Xbox Games Showcase on Sunday (Jun 9), unveiling a new all-digital version of its Xbox Series X and S consoles as well as trailers for more than a dozen games including the next instalment of Call of Duty. The Games Showcase comes at a crucial time for Xbox and Microsoft as the gaming industry faces a downturn and publishers grapple with softer sales, layoffs and studio shutdowns. Microsoft showed off three gaming consoles including a disc-less version of the Xbox Series X and S consoles, and a special edition of the Series X with two terabytes of storage. The hardware refresh could help Xbox boost sales of its consoles which compete with Sony’s PlayStation 5. Among the games on display was Doom: The Dark Ages, the latest instalment in the long-running Doom
Tencent-backed video game developer, Shift Up, Jumps in Seou
South Korean company marks country's second-biggest IPO this year Shift Up raised 435 billion won ($315 million) in its IPO as it floated 12.5% of its stake by issuing 7.25 million new shares. It is the second-biggest IPO so far this year in South Korea, following HD Hyundai Marine Solution, which raised 742 billion won in May. The listing comes as Seoul's IPO market recovers from a long slump since the pandemic. An online bank, K-Bank, is also preparing for a market debut later this year. Shift Up is South Korea's fourth-largest game developer, having a lineup of Nikke: Goddess of Victory and Stellar Blade. The company plans to use the proceeds from the IPO for developing new games and content as well as doing research for artificial intelligence and other new technology. https://asia.nik
$WinkingStudios(WKS)$ Video gaming sales, traditionally Tencent’s strongest revenue driver, grew 14% in the domestic market Tencent Holdings, operator of China’s biggest social media app and the world’s largest video gaming business by revenue, beat analyst estimates with a 47 per cent profit jump in the third quarter, helped by renewed growth in the video gaming segment. Profit reached 53.2 billion yuan (US$7.4 billion) in the three months ended September, up from 36.2 billion yuan in the same period a year ago. That exceeded the consensus estimates of 45.3 billion yuan from analysts polled by Bloomberg. Revenue for the Shenzhen-based firm reached 167.2 billion yuan, up 8 per cent year on year from 154.6 billion. It was in line with analyst estimates of 167.9 billion yuan. “During
Tencent’s ‘Dungeon & Fighter’ game dominates China’s mobile
https://www.businesstimes.com.sg/lifestyle/tencents-dungeon-fighter-game-dominates-chinas-mobile-download-charts TENCENT Holdings’s newly launched Dungeon & Fighter (DnF Mobile) has got off to a strong start, dominating top-grossing charts on Apple’s iOS platform in China for nearly a month, industry data showed. The game, launched in the world’s biggest gaming market on May 21, broke the US$100 million revenue mark in just 10 days, according to a report released by data analytics firm Sensor Tower this week. It also topped the global mobile game revenue growth chart for May and ranked 8th in overall revenue. In the first 10 days of its launch, DnF Mobile’s revenue in China’s iOS market surpassed the combined earnings of Tencent’s other popular titles Honor of Kings and PUBG Mobile, ac
Tencent’s new blockbuster game exceeds US$270m in 30 days
‘Dungeon & Fighter Mobile’ is off to a hot start in China https://www.businesstimes.com.sg/lifestyle/tencents-new-blockbuster-game-exceeds-us270-million-30-days
$WinkingStudios(WKS)$ UOB Kay Hian: Winking Studios (WKS SP/ BUY / TP S$0.38) *Game-changing moves ahead to accelerate growth; Raise target price by 9%* Analyst: Heidi Mo (UOBKH) *1H24 earnings below expectations* WKS reported 1H24 revenue of US$15m (+7% yoy) and core net profit of US$1.2m (-34% yoy), forming 47% and 28% of our full year forecasts respectively. Core earnings miss came from weaker margins (-3ppt yoy) from post-acquisition integration and higher marketing exp (+86% yoy). Excluding acquisitions, GPM was stable yoy at 30%. *Revenue grew 11% yoy in local currencies* from increased orders across both Art Outsourcing (+7% yoy) and Game Development (+8% yoy) segments. *Robust 2H24 pipeline* with ~US$10m of indicative bookings as o
*Game-changing moves ahead to accelerate growth; Raise target price by 9%* Analyst: Heidi Mo (UOBKH) *1H24 earnings below expectations* WKS reported 1H24 revenue of US$15m (+7% yoy) and core net profit of US$1.2m (-34% yoy), forming 47% and 28% of our full year forecasts respectively. Core earnings miss came from weaker margins (-3ppt yoy) from post-acquisition integration and higher marketing exp (+86% yoy). Excluding acquisitions, GPM was stable yoy at 30%. *Revenue grew 11% yoy in local currencies* from increased orders across both Art Outsourcing (+7% yoy) and Game Development (+8% yoy) segments. *Robust 2H24 pipeline* with ~US$10m of indicative bookings as of 13 Aug to be fulfilled by end-24. *S$26.5m net proceeds from Jul placement to fund future acquisitions* WKS has completed 2 ea
Tencent’s sales growth sped up after blockbuster game releas
TENCENT Holdings’ revenue accelerated its growth after the blockbuster summer release of Dungeon & Fighter Mobile helped lift China’s most valuable company out of a gaming trough. Revenue jumped 8 per cent to 161.1 billion yuan (S$29.7 billion) for the April-to-June period, versus the projected estimate of 161.4 billion yuan. Net income surged to 47.6 billion yuan, compared with the estimated 39.9 billion yuan. Competition in China’s US$40 billion-plus gaming arena sparked back to life this summer. DnF Mobile got off to a hot start and maintained momentum even with the debuts of major rival titles by NetEase and Genshin Impact studio Mihoyo. Tencent’s hack-and-slash game could rack up 22 billion yuan this year, or 3 per cent of Tencent’s total revenue, according to an estimate by Morni
$WinkingStudios(WKS)$ Tencent-backed video game developer, Shift Up, Jumps in Seoul debut South Korean company marks country's second-biggest IPO this year Shift Up raised 435 billion won ($315 million) in its IPO as it floated 12.5% of its stake by issuing 7.25 million new shares. It is the second-biggest IPO so far this year in South Korea, following HD Hyundai Marine Solution, which raised 742 billion won in May. The listing comes as Seoul's IPO market recovers from a long slump since the pandemic. An online bank, K-Bank, is also preparing for a market debut later this year. Shift Up is South Korea's fourth-largest game developer, having a lineup of Nikke: Goddess of Victory and Stellar Blade. The company plans to use the proceeds from t
$WinkingStudios(WKS)$ Video Games Are China’s Next Soft Power Grab https://newlinesmag.com/spotlight/video-games-are-chinas-next-soft-power-grab/ A highly anticipated release based on 'Journey to the West' shows the evolution of both an art form and a conduit of Communist Party influence In August 2020, Hangzhou-based developer Game Science released the first trailer for their upcoming action-adventure video game, Black Myth: Wukong, in which players take control of Monkey King Sun Wukong, the shapeshifting, cloud-surfing, demon-hunting antihero of the 16th-century Chinese novel “Journey to the West.” Within a day, the impressive trailer — which showed the simian facing off against the armies of heaven with his signature, size-adjustable m
https://newlinesmag.com/spotlight/video-games-are-chinas-next-soft-power-grab/ A highly anticipated release based on 'Journey to the West' shows the evolution of both an art form and a conduit of Communist Party influence In August 2020, Hangzhou-based developer Game Science released the first trailer for their upcoming action-adventure video game, Black Myth: Wukong, in which players take control of Monkey King Sun Wukong, the shapeshifting, cloud-surfing, demon-hunting antihero of the 16th-century Chinese novel “Journey to the West.” Within a day, the impressive trailer — which showed the simian facing off against the armies of heaven with his signature, size-adjustable magic staff, the Ruyi Jingu Bang — attracted more than 10 million views on the Chinese video-sharing site Bilibili and
$WinkingStudios(WKS)$ Video of Winking Studios’ AIM Listing https://www.youtube.com/watch?v=F9U2QrYcloU The London Stock Exchange welcomes Winking Studios Limited, the AAA Art Outsourcing and Game Development business listed on the Catalist board of the Singapore Exchange Securities Trading Limited, as it celebrates the company’s admission to the AIM Market of the London Stock Exchange. The Company has successfully raised £7.9 million, giving the company a market capitalisation on admission of approximately £66 million. It intends to use the proceeds raised to support expansion into Western markets and enhance the Group’s current operational capabilities. Founded in 2004 and headquartered in Singapore with nine offices across Asia, Winking
https://www.youtube.com/watch?v=F9U2QrYcloU The London Stock Exchange welcomes Winking Studios Limited, the AAA Art Outsourcing and Game Development business listed on the Catalist board of the Singapore Exchange Securities Trading Limited, as it celebrates the company’s admission to the AIM Market of the London Stock Exchange. The Company has successfully raised £7.9 million, giving the company a market capitalisation on admission of approximately £66 million. It intends to use the proceeds raised to support expansion into Western markets and enhance the Group’s current operational capabilities. Founded in 2004 and headquartered in Singapore with nine offices across Asia, Winking Studios is led by its founder Johnny Jan and is ranked third in Asia and fourth in the world in terms of globa
$WinkingStudios(WKS)$ Tencent beats estimates with 47% profit jump, driven by video gaming Video gaming sales, traditionally Tencent’s strongest revenue driver, grew 14% in the domestic market Tencent Holdings, operator of China’s biggest social media app and the world’s largest video gaming business by revenue, beat analyst estimates with a 47 per cent profit jump in the third quarter, helped by renewed growth in the video gaming segment. Profit reached 53.2 billion yuan (US$7.4 billion) in the three months ended September, up from 36.2 billion yuan in the same period a year ago. That exceeded the consensus estimates of 45.3 billion yuan from analysts polled by Bloomberg. Revenue for the Shenzhen-based firm reached 167.2 billion yuan, up 8
$WinkingStudios(WKS)$ Gaming Services Group, Winking Studios, rises on AIM dual-listing debut in London on 14 November 2024 Winking Studios Ltd saw its share price rise on Thursday, as it started trading on London's junior market. The Singapore-based video-game services firm backed by Taiwan's Acer Inc announced the admission of its shares to AIM two weeks after revealing its plans for an initial public offering. Its shares were trading up 12% at 16.75 pence from its IPO price of 15p on Thursday morning in London. Winking already was listed in Singapore, where it closed flat at SDG0.29, or 17.00p, on Thursday. This follows a share placing on Monday that raised GBP7.9 million at 15p per share, giving Winking a GBP66.1 million opening market
Winking Studios rises on AIM debut in London on 14 Nov 2024
Winking Studios Ltd saw its share price rise on Thursday, as it started trading on London's junior market. The Singapore-based video-game services firm backed by Taiwan's Acer Inc announced the admission of its shares to AIM two weeks after revealing its plans for an initial public offering. Its shares were trading up 12% at 16.75 pence from its IPO price of 15p on Thursday morning in London. Winking already was listed in Singapore, where it closed flat at SDG0.29, or 17.00p, on Thursday. This follows a share placing on Monday that raised GBP7.9 million at 15p per share, giving Winking a GBP66.1 million opening market capitalisation. Winking issued 52.7 million new shares, with Acer's 62.6% holding prior to the IPO rising to 64.2% as subsidiary Acer Gaming Inc bought 40 million of the new
Game developer targets London for dual listing to expand We
https://www.cityam.com/game-developer-targets-london-for-dual-listing-to-expand-western-reach/ Winking Studios has grown into a powerhouse in game art outsourcing, ranking third in Asia and fourth globally in revenue. Winking Studios, a Singapore-based game development giant, has announced plans to list on the London Stock Exchange’s AIM market, as it looks to strengthen its foothold in Western markets. Already listed on Singapore’s Catalist board, Winking says the dual listing will allow it to tap into the UK’s capital-rich tech investor pool and drive growth in the “fast-growing industry”. Founded in 2004 by chief executive Johnny Jan, Winking Studios has grown into a powerhouse in game art outsourcing, ranking third in Asia and fourth globally in revenue. With nine offices across Asia a
$WinkingStudios(WKS)$ Game developer targets London for dual listing to expand Western reach https://www.cityam.com/game-developer-targets-london-for-dual-listing-to-expand-western-reach/ Winking Studios has grown into a powerhouse in game art outsourcing, ranking third in Asia and fourth globally in revenue. Winking Studios, a Singapore-based game development giant, has announced plans to list on the London Stock Exchange’s AIM market, as it looks to strengthen its foothold in Western markets. Already listed on Singapore’s Catalist board, Winking says the dual listing will allow it to tap into the UK’s capital-rich tech investor pool and drive growth in the “fast-growing industry”. Founded in 2004 by chief executive Johnny Jan, Winking Stu