[Click eStock] "Vespa, New Releases Starting Q2 This Year... Momentum to Continue"

[Asia Economy Reporter Yoo Hyun-seok] Kiwoom Securities analyzed on the 13th that Vespa's new game momentum will continue from the second quarter of this year. No investment opinion or target price was presented.

Kim Hak-jun, a researcher at Kiwoom Securities, explained, "Vespa's main source of revenue is King's Raid, and profits fluctuate depending on King's Raid's performance in Japan, but if the current sales level is maintained, overall performance around the BEP is expected to be sustained. A chapter update is scheduled for this month, and updates are expected in the second and third quarters as well."

He emphasized, "Additionally, an animation broadcast that could help attract new users is scheduled for October, so unless there is a sharp decline in users, stable profits can be generated on a standalone basis."

In particular, Kim highlighted that Vespa's cash holdings of 75 billion KRW will attract attention when new game momentum occurs. He said, "Vespa holds 75 billion KRW in cash, and like most game companies, its operating value is not significantly reflected compared to its cash value. For this operating value to expand, new game momentum is necessary. This year's new games are concentrated from Q2 to Q4, with casual and strategy games expected to be released in the first half, and RPG and defense games with high ARPU expected in Q3 and Q4, so attention is needed."

This content was produced with the assistance of AI translation services.