[Click eStock] "Wemade Undervalued Compared to Night Crow's Performance"

NH Investment & Securities analyzed on the 16th that considering the overseas performance of 'Night Crow,' the current stock price of Wemade is excessively undervalued.

Ahn Jae-min, a researcher at NH Investment & Securities, explained, "The overseas version of Night Crow, which was released a month ago, is smoothly sailing," adding, "The number of concurrent users, which started at 150,000 on the first day of release, increased to 404,000 as of 8 PM on April 14."

He continued, "Assuming Night Crow's March revenue is 50 billion KRW and the average daily revenue in the second quarter is 1 billion KRW," and added, "Night Crow is a globally popular game that has appeared from a domestic game company after a long time."

He emphasized, "There are not many MMORPGs worldwide that have achieved around 400,000 concurrent users," and "There is a possibility of a merger with the developer Mad Engine as early as this year, which could increase next year's operating profit by more than 70 billion KRW compared to the current estimate."

Researcher Ahn expressed expectations, saying, "Performance improvements can be anticipated with the release of Mir M (China) in the second quarter, Legend of Mir in the third quarter, and Mir 4 (China) in the fourth quarter of this year."

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