Nomura reiterates bid for China tour target 32 USD

Nomura recently issued a report reiterating its bid to buy China's Nasdaq:cmge, based on its strong IP resource reserves and robust growth, with a target price of $32 trillion. The report said, Chinese hand tour has released a genuine MMORPG hand Tour-"Decisive battle Cheng", the game has won the genuine IP licensing of the grand game. In addition, the Chinese hand Tour has 17 of its own products are licensed to obtain genuine IP, including "Naruto", "Sea King", "Ghost", "Shaolin Temple", "in the Wind," "Smart Hugh" and "Hello Kitty" and so on. These products will be released in the fourth quarter. Nomura believes a strong IP resource reserve will help China to gain revenue growth in the quarter and 2015 fiscal year 2014. In the third quarter of 2014, China's hand tour revenue and net profit exceeded market expectations. Among them, the third quarter of 2014, the revenue of 358 million yuan, an increase of 264.5%, the chain growth of 30.2%, Super analyst comprehensive forecast of 6%. Operating profit of 73 million yuan, super analyst comprehensive forecast of 4%. Based on non-US general accounting standards, net profit of 81 million yuan, the year-on-year growth of 236%, the chain growth of 29%, Super analyst comprehensive forecast of 4%. Nomura expects China to travel for 2015 fiscal year non-GAAP earnings per share of 2.48 U.S. dollars, based on the 2015 fiscal Year 13 times times the earnings ratio (equivalent to 7 companies in the same industry average), the corresponding target price of 32 U.S. dollars (remain unchanged).