Investors seeking exposure to China's growing mobile gaming industry should look at technology giants Tencent and NetEase , according to Goldman Sachs.
The investment bank expects "China to see faster growth from mid 2024 supported by game launches and a loosening regulatory environment."
Tencent Tencent's game sales were up 14% year on year domestically in March and 36% internationally.
NetEase NetEase posted a 16% year-on-year rise in domestic sales growth and 1% rise in international sales growth last month, Goldman's analysts noted.
Domestic mobile game sales fell by 12% year-on-year Japan in the first quarter of the year.
Persons:
Goldman Sachs, 2Q24, Lincoln Kong, FactSet, NetEase NetEase, Michael Bloom
Organizations:
Street, Hong, Nasdaq, Hong Kong Stock Exchange, China, Domestic
Locations:
China, Tencent, Hong Kong, Japan, South Korea