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《大行報告》瑞信:網易(09999.HK)中止與暴雪授權遊戲合作 料直接財務影響有限 但不排除未來仍有機會達協議
網易-S(09999.HK)今日(17日)股價受壓,最低見97.2元一度下挫14.6%,全日收103.5元,跌9.1%,涉資27.36億元。網易表示,非常遺憾動視暴雪(ATVI.US)在今日先行宣布停止合作,將不得不接受此決定。網易將繼續履行職責,為玩家服務到最後一刻。網易指,一直在盡最大努力和動視暴雪公司談判,希望推進續約。經過長時間的談判,仍然無法就一些合作的關鍵性條款與動視暴雪達成一致。 瑞信發表報告表示,基於動視鑑於暴雪尚未宣布在中國的新發行合作夥伴,該行認為情況仍值得密切關注。考慮到內地批出遊戲版號的限制(特別是對於高度商業化的外國遊戲版號)、營運經典傳統個人電腦遊戲的技術挑戰以及可能不利的財務條款,該行認為動視暴雪尋找新的合作夥伴可能具有挑戰性。在距離到期還有兩個月,該行不完全排除網易與動視暴雪克服分歧達成協議的可能性。 該行指,如果雙方在2023年終止相關遊戲的營運,料對網易直接財務影響也將是有限的。據網易公告,受影響的涉動視暴雪遊戲的收入和淨利潤貢獻在2021年全年和2022年首九個月佔比均為低個位數。
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