[Click eStock] "Pearl Abyss, Black Desert Mobile's Poor Performance in China"... Target Price Down

[Asia Economy Reporter Ji Yeon-jin] Ebest Investment & Securities announced on the 13th that it has lowered the target price for Pearl Abyss by 25%, from 97,000 KRW to 73,000 KRW, reflecting the underwhelming performance of 'Black Desert Mobile China.' The buy rating was maintained.

Seong Jong-hwa, a researcher at Ebest Investment & Securities, stated, "Although Black Desert PC and mobile sales in existing regions exceeded expectations in the first quarter of this year, the sales forecast for Black Desert Mobile China, launched on the 26th of last month, has been further downgraded, significantly lowering the earnings outlook."

According to the application analytics firm 'data.ai,' Black Desert Mobile China ranked within the top 40 in Apple App Store revenue rankings on its launch day but dropped to 106th place by the 3rd of this month. As of the 11th, its ranking was 179th.

However, researcher Seong noted, "Black Desert Mobile China was launched without its revenue model (BM) to obtain the game license (panho)." He added, "It is necessary to verify how much the revenue ranking and average daily sales will rebound after updating core content 2-3 weeks later when the panho acquisition build is exhausted, applying a gacha system within regulatory limits, and strengthening the BM through equipping high-priced items based on core items."

Meanwhile, the consolidated operating results for the first quarter showed sales of 91.4 billion KRW, a 22.5% decrease from the previous quarter, and operating profit fell sharply by 79.8% to 5.2 billion KRW, indicating poor performance.

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