[Click eStock] "Mr. Blue, Expected to Achieve Record High Performance This Year"

[Asia Economy Reporter Hyunseok Yoo] Leading Investment & Securities analyzed on the 12th that Mr. Blue is expected to achieve its highest performance this year through comic content and mobile game businesses. No investment opinion or target price was provided.

Mr. Blue produces comic content and operates a platform at its headquarters, and develops games through its subsidiary Blue Potion Games. As of the cumulative third quarter of last year, the revenue ratio was 57% from the headquarters and 43% from the subsidiary. With the success of the mobile game EOS Red in the third quarter of last year, the company achieved rapid performance improvement and is currently preparing for a global launch. The headquarters plans to introduce a differentiated webtoon service in the martial arts genre, where it has strengths, in the second half of the year.

Researcher Jihoon Shin said, "The number of subscribers to the proprietary platform exceeded 5.02 million in 2019 from 2.98 million in 2016, and transaction volume surpassed 21.6 billion KRW in 2019 from 13.7 billion KRW in 2016," adding, "On November 21 last year, the subscription price was doubled from 10,000 KRW to 20,000 KRW, resulting in a profit improvement effect of over 500 million KRW per quarter starting from the first quarter of this year. New webtoons are expected to be released in May from the spun-off Blue Comics and in the second half of the year from Orange Studio."

He emphasized, "The iOS and PC versions of the mobile game EOS Red are scheduled to be released within this month," and added, "The game will launch in Taiwan in the first half of the year and in Japan in the second half, with plans for a China release within the year. Although daily sales dropped from about 1 billion KRW at launch in the third quarter of last year to about 100 million KRW currently, an increase in daily sales is expected due to the global launch."

Leading Investment & Securities forecast that Mr. Blue's sales and operating profit will reach 92.4 billion KRW and 24.1 billion KRW, respectively, this year.

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