[Click eStock] "Mgame, Revaluation Expected with New Release"

Research Alume analyzed on the 10th that Mgame's new mobile title 'GwihonM' is expected to perform well.

Choi Seonghwan, a researcher at Research Alume, stated, "Mgame is preparing to release two new titles this year," and introduced, "The mobile version game GwihonM utilizes the IP of the MMORPG 'Gwihon,' and Jeonmin Gangho is a mobile game developed based on the graphics of 'Yeolhyeol Gangho Online.'"

He continued, "GwihonM has completed its beta test and is expected to be released this summer," adding, "During the test period, it received a 4.6 rating on One Store, making it a highly anticipated title for the second half of the year." Furthermore, "Not only domestic but also overseas users showed high participation in the beta test, increasing expectations for an overseas launch centered on Southeast Asia."

Researcher Choi analyzed, "They received $2.75 million as an upfront payment for IP usage through Kingnet," and "Jeonmin Gangho was released in China last August and ranked number one in the App Store popularity charts." He mentioned, "They are expected to handle domestic publishing for Jeonmin Gangho," and "Additional royalty revenue is anticipated."

Research Alume presented a positive stock outlook for Mgame, suggesting a target price of 9,000 KRW. They estimated this year's sales to reach 85.5 billion KRW and operating profit to be 22.5 billion KRW, representing increases of 4.8% and 5.6% respectively compared to last year.