[Click eStock] Pearl Abyss to Launch 'Black Desert' in China in March... Target Price Set at 130,000 Won

[Asia Economy Reporter Hwang Yoon-joo] On the 4th, Daishin Securities newly issued a 'Buy' investment opinion and a target price of 130,000 KRW for Pearl Abyss, expecting a significant performance improvement due to the release of the mobile game 'Black Desert' in China.

Lee Ji-eun, a researcher at Daishin Securities, stated, "After the issuance of a foreign-invested game license in China, Black Desert Mobile is expected to be released in March this year, about nine months after the final closed beta test (CBT) in February," adding, "The estimated average daily sales this year are in the mid-3 billion KRW range."

The researcher predicted, "Since Tencent is in charge of publishing and Pearl Abyss recognizes a revenue-sharing ratio (RS) of mid-20% as net sales, a top-ranking position in mobile sales is expected."

Additionally, the release of Pearl Abyss's subsidiary Big Game Studio's new title (Black Clover IP, RPG, mobile) in the third quarter and the global release of Red Desert (open-world action adventure, PC/console) in the fourth quarter are also considered positive factors for performance.

The researcher added, "In the second half of 2023, we plan to release the metaverse game 'Dokkaebi,' which incorporates both P2E and NFT," explaining, "The project will be conducted within the game through partnerships with various industries such as fashion and entertainment, and the main revenue models will be B2B advertising revenue and game sales."

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