U.S. brokerage Auriga said the grand game will be exerting force in the second half

Beijing Time May 27 Evening News, the U.S. securities brokerage Auriga released today reported that Shanda Games will be launched in the second half of this year, a variety of new games, which will become a catalyst for the company's share price.　　Auriga currently rated the Shanda game stock as "buy". The following is the full report: Shanda Games will be released in the first quarter of 2010 after the U.S. stock market closes. We expect Shanda's first-quarter results to be expected, and the company's second-quarter revenue forecasts will be flat or slightly higher, but below analysts ' average expectations and our expectations. However, we believe that the grand game will be in the second half of 2010. The company is preparing to launch a variety of games, which will be the catalyst for the big game's share price later this year.　　So we suggest that investors buy the company's shares after the big game earnings, which would be a less risky buy point. Second quarter revenue expected to be flat or slightly increased according to our analysis, Shanda games for the second quarter of the revenue is expected to be flat or slightly higher, but will be lower than average expectations. Expectations of Wall Street and our expectations of $179.3 million trillion (4.5% per cent on a month-on-month basis) and 180.9 million dollars (5.5% per cent in the chain) are likely to be over-optimistic. Despite the steady performance of the blood legend, Shanda is currently working to boost the number of users and maintain a lower average per-user revenue (ARPU) value. So we will see the increase in the number of games users, but no corresponding increase in revenue.　　We believe that this phenomenon is positive. Shanda Games will be driven by a variety of new games in the second half of this year. Shanda's All Star project includes 8 games that will be vigorously promoted.　　We believe that some of these games will be accepted by the players and will have 1 to 2 games to achieve greater success. Shanda is currently planning to launch more than 20 games. Upcoming games from All Star projects include: 1 "star change" is expected to be launched at the end of June to the beginning of July; 2) "Dragon Valley" will be completed in June, and will be conducted in the summer of the public test; 3 "Hero Years 2" will be launched in the beginning of June; 4 Boxing King World　　It is expected to be launched in the second half of 2010; 5. "The Biography of Heroes handed down" from May 28 to carry out unrestricted test; 6, "Magic World 2" will start in July the second round of the test, 7, "bubble fighters" is expected to be launched in the fourth quarter of this year. First-quarter results will be in line with expectations we expect the first quarter results of the Shanda games to be in line with our expectations, with revenues falling 10% to 15% on a month-on-month basis, to 166.3 million to 176.1 million dollars.　　Wall Street, on average, expects Shanda's first-quarter revenue to be 171.6 million dollars and 0.17 dollars per share. Valuations are attractive Shanda gaming shares are the most undervalued among similar companies. With the average Wall Street forecast of 2010 earnings per share, Shanda's shares have a dynamic price-to-earnings ratio of just 7.8 times times, compared with an industry average of 10.3 times times. We expect the grand game to be 0.77 dollars per share in 2010, giving it 13 times multiples, and we set the Grand game target price at $10.00. (Chu Yue)