External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

External broker reports(aggregated public sources)

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Equity Bottom-Up

<ul><li>1Q25 consensus beat on solid platform performance; China Mobile leads the upside</li><li>Mobile revenue growth reflected; 2025 earnings forecasts revised up; TP raised by 15% </li><li>High expectations for 2H new titles; yearly profit set to grow 20% or higher; Retain Top pick</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

1Q25 consensus beat on solid platform performance; China Mobile leads the upsideMobile revenue growth reflected; 2025 earnings forecasts revised up; TP raised by 15% High expectations for 2H new titles; yearly profit set to grow 20% or higher; Retain Top pickContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Krafton (259960 KS Apr 30, 2025) - PUBG Holds Strong, New Titles Impress

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

Event-Driven

<ul>
<li>On 29 April, Krafton announced that it plans to acquire a 39.37% controlling stake in Neptune Company from Kakao Games for 165 billion won ($114.9 million).</li>
<li>Prior to this deal, Krafton owned a 3.2% stake in Neptune. After this deal is completed, Krafton will own a 42.53% stake (19.86 million shares) of Neptune.</li>
<li>Krafton reported excellent results in 1Q 2025. The company beat its sales, operating profit, and net profit by 10.1%, 18.3%, and 13.8%, respectively in 1Q 2025. </li>
</ul>


On 29 April, Krafton announced that it plans to acquire a 39.37% controlling stake in Neptune Company from Kakao Games for 165 billion won ($114.9 million).
Prior to this deal, Krafton owned a 3.2% stake in Neptune. After this deal is completed, Krafton will own a 42.53% stake (19.86 million shares) of Neptune.
Krafton reported excellent results in 1Q 2025. The company beat its sales, operating profit, and net profit by 10.1%, 18.3%, and 13.8%, respectively in 1Q 2025. 


Krafton: Acquisition of Controlling Stake in Neptune from Kakao Games

<ul>
<li>In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.</li>
<li>Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months. </li>
<li>As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance. </li>
</ul>


In this insight, we discuss 20 Korean stocks that could outperform the market in the next two months amid global tariff war and local political turmoil.
Going forward, we believe these 20 Korean stocks could continue to outperform the market in the next couple of months. 
As the market tries to digest further the uncertainties due to tariff war and the local Presidential election, these 20 stocks could provide sound defensive outperformance. 


20 Korean Stocks That Could Outperform Next 2 Months Amid Tariff War and Local Political Turmoil

<ul><li>Consensus beat expected for 4Q24 OP; PUBG traffic continues to trend up across all platforms</li><li>PUBG forecasted to post record earnings in 1Q25 (a typical high-ARPU period) on the back of traffic growth</li><li>2025’s first new title, inZOI, to hit the market with expectations likely to be priced into the stock</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consensus beat expected for 4Q24 OP; PUBG traffic continues to trend up across all platformsPUBG forecasted to post record earnings in 1Q25 (a typical high-ARPU period) on the back of traffic growth2025’s first new title, inZOI, to hit the market with expectations likely to be priced into the stockContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul>
<li>Consensus beat expected for 4Q24 OP; PUBG traffic continues to trend up across all platforms</li>
<li>PUBG forecasted to post record earnings in 1Q25 (a typical high-ARPU period) on the back of traffic growth</li>
<li>2025’s first new title, inZOI, to hit the market with expectations likely to be priced into the stock</li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


Consensus beat expected for 4Q24 OP; PUBG traffic continues to trend up across all platforms
PUBG forecasted to post record earnings in 1Q25 (a typical high-ARPU period) on the back of traffic growth
2025’s first new title, inZOI, to hit the market with expectations likely to be priced into the stock

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Krafton: Earnings and New Title Both Worth Anticipating

South Korea

Krafton, Inc. operates as a game development company. The Company develops console games, mobile games, computer games, and other related products. Krafton markets its products throughout South Korea.

Price Gauge
52-week Range	0.00 - 0.00
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Krafton (259960 KS)