We initiated Feiyu in May 2022 following the successful release of Dougui, which was shortly followed by Carrot Fantasy 4. The stock doesn't reflect Feiyu's return to profitability.
Feiyu (HK:1022) just posted a positive profit alert, as expected and mentioned in this latest article. 2023 will come out at RMB 50-65M in net profit, so $US 7-9, after tax. That compares to a loss of approx. US$3.5M in 2022.
It's slightly lower that we estimated, but still makes H2 another profitable quarter. That'll give them a PE of 5 as it sits in all-time low valuation, even after its profitability turnaround (since H1 2023).
Feiyu (HK:1022) just posted a positive profit alert, as expected and mentioned in this latest article. 2023 will come out at RMB 50-65M in net profit, so $US 7-9, after tax. That compares to a loss of approx. US$3.5M in 2022.
It's slightly lower that we estimated, but still makes H2 another profitable quarter. That'll give them a PE of 5 as it sits in all-time low valuation, even after its profitability turnaround (since H1 2023).