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Multi-bagger in the Making
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tedlim
Veteran |
25-Jul-2024 08:05
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Everytime i take public transport, i see gamers everywhere...it is prob the cheapest form of entertainment and it has become an essential part of their lifestyle. when they spend those in-app purchases..every little bit adds up and fuel the grow of this industry. Winking' s global status will put them in a good position to harness more growth. DYODD |
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Alignment
Elite |
25-Jul-2024 02:46
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Very smart. |
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Nippon72
Veteran |
24-Jul-2024 21:56
Yells: "Dude, is ALWAYS Time in the market than Timing the market! " |
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I have learned to separate moral values from biz as long is not illegal by penal code. I see indulgence in games as somewhat equivalent to drinking, smoking & gambling. Not quite morally right depending one' s belief or value but not illegal else gov would have banned outright. And gaming will not go away, I witnessed my son' s craze or addiction in his school days. So the potential & market is there. Vested using my SRS as I decided to classify it as my " LT or No Sell" category shares. |
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Alignment
Elite |
24-Jul-2024 11:59
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Its amazing how quickly the games market is growing. Not necessarily benefical for the public good though. |
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tedlim
Veteran |
24-Jul-2024 07:49
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Netflix has over 80 games currently in development and plans to launch one each month
Netflix currently has over 80 games in development, with plans to release a game a month to its subscribers from this month onwards.
In its latest earnings call, Netflix' s co-CEO, president and director Gregory K Peters discussed the company' s plans for gaming and how it will achieve growth.
Where the company is moving quickest is with interactive narrative games, which Peters describes as " easier to build" . These are placed in the Netflix Stories narrative hub and it' s here the company will be launching a new game each month based on popular series like Emily in Paris and Selling Sunset.
Peters promised Netflix has " lots more, including very different types of games yet to come in the quarters and years ahead" .
Netflix' s fellow co-CEO, president and director Theodore A Sarandos also contributed to the gaming discussion. " I think our opportunity here to serve super fandom with games is really fun and remarkable," he said. " I think the idea of being able to take a show and give the superfan a place to be in between seasons and even beyond that, to be able to use the game platform to introduce new characters and new storylines or new plot twist events, now you could do those kind of things and then they can then materialise in the next season or in the sequel to the film."
So far, Netflix has launched over one hundred games, though many of these are small in scope.
The Netflix mobile app includes a number of third-party games as part of the subscription, like Grand Theft Auto, Football Manager, and Sonic Mania, as well as original Interactive Stories based on Netflix shows like Love is Blind and Perfect Match.
Peters noted that, while Netflix had set itself " pretty aggressive engagement growth targets" , which it' s met, the impact on the overall business is " still quite small" - as is investment.
Now, then, " the job is to continue to grow that engagement to the place where it has a material impact on the business," he said.
At the end of last year, Netflix head of gaming Mike Verdu revealed the company had over 10 games in development at in-house studios, plus 90 games planned through deals with external teams.
It' s unclear what the exact split is between in-house and third-party games for the 80 now in development, or what' s changed since last year.
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For_The_Next_Leg
Master |
23-Jul-2024 14:24
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So recently the company increased its investment in its wholly-owned subsidiary, Shanghai Winking Entertainment Limited. This is probably noting that China gaming industry despite the regulations is a gold mine.
https://jingdaily.com/posts/china-s-usd66b-gaming-goldmine-are-brands-missing-out
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Joelton
Supreme |
19-Jul-2024 11:04
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Winking Studios increases investment in wholly-owned subsidiary
Art outsourcing and game development studio operator Winking Studios has increased its investment in its wholly-owned subsidiary, Shanghai Winking Entertainment Limited.
The increased issued and paid-up capital rose from CNY100.2 million ($18.5 million) to CNY209.2 million on July 18.
The group says that this investment is funded by internal resources and is not expected to have any material impact on the net tangible assets and earnings per share for the financial year ending Dec 31, 2024.
Winking Studios recently completed placement of 108.0 million new ordinary shares at S$0.25 each, raising net proceeds of S$26.5 million that will be principally be used for strategic corporate initiatives, acquisitions and enhancements of operational capabilities
The Placement has garnered substantial interest from existing shareholders, management team and investors across Singapore, Malaysia and Taiwan
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Alignment
Elite |
18-Jul-2024 12:13
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https://www.msn.com/en-us/money/other/keywords-studios-isn-t-the-only-games-business-eqt-has-its-eye-on/ar-BB1pWxOx?ocid=BingNewsVerp& apiversion=v2& noservercache=1& domshim=1& renderwebcomponents=1& wcseo=1& batchservertelemetry=1& noservertelemetry=1 There is some speculation in the UK that EQT may be looking to do another takeprivate in this space concurrent with its acquisition of Keywords Studios. Another clue is that the Keywords deal was done via an EQT Asian focused fund, which is potentially unusual given Keywords is London listed and Ireland HQed, unless EQT intends to do Asian acquisitions in this space. So could it be Winking? Or Shift Up? Or someone else? |
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tedlim
Veteran |
16-Jul-2024 10:27
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Tencent-backed video game developer Shift Up closes up 18% in Seoul debutSouth Korean company marks country' s second-biggest IPO this year  KIM JAEWON, Nikkei staff writerJuly 11, 2024 11:07 JSTUpdated on July 11, 2024 16:31 JST
SEOUL -- South Korean game developer Shift Up made a successful debut in Seoul' s stock market on Thursday, closing up 18% from its initial public offering price of 60,000 won per share after rising as much as 49% at one point. The issue' s first day of trading began at 79,900 won, 33.2% above the IPO price. The shares later extended the gains to 89,500 at one point, 49.2% above the IPO price, before closing at 71,000 won. Shift Up raised 435 billion won ($315 million) in its IPO as it floated 12.5% of its stake by issuing 7.25 million new shares. It is the second-biggest IPO so far this year in South Korea, following HD Hyundai Marine Solution, which raised 742 billion won in May. The listing comes as Seoul' s IPO market recovers from a long slump since the pandemic. An online bank, K-Bank, is also preparing for a market debut later this year. The video game software developer' s market capitalization reached 4.6 trillion won, ranking it 94th in the benchmark KOSPI index. Shift Up is South Korea' s fourth-largest game developer, having a lineup of Nikke: Goddess of Victory and Stellar Blade. The company plans to use the proceeds from the IPO for developing new games and content as well as doing research for artificial intelligence and other new technology. Analysts say both Nikke and Stellar Blade are popular in markets from Japan and the U.S. to the Middle East and Europe, helping the company maintain its partnerships with global game publishers. " Both IPs have been successful in various international territories. As the company has globally-hit IPs, we expect the company to continue to work with leading global publishing partners such as Tencent and Sony," said Lee Jee-eun, an analyst at Daishin Securities, in a recent report. CEO and founder Kim Hyung-tae is the biggest shareholder, owning a 39.1% stake, followed by Aceville, a Singapore-based investment unit of Tencent, which has 35%. The company posted an operating profit of 111.1 billion won last year, with 168.6 billion won in revenue. |
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For_The_Next_Leg
Master |
12-Jul-2024 16:22
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Nothing much to share on the company but this youtube video triggered something in me. AI replacing human is not totally possible. In fact, AI remains a supporting enhancement for people who requires it. Winking Studios will eventually be a beneficial of AI rather than a slowdown through AI.
https://youtu.be/0D84xYeqQRA?si=KRLeG1-VaTQ1rfPH
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Joelton
Supreme |
10-Jul-2024 10:03
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Winking Studios&rsquo Placement of 108.0 million new ordinary shares at S$0.25 each fully subscribed Raising net proceeds of S$26.5 million
&bull Net proceeds will principally be used for strategic corporate initiatives, acquisitions and enhancements of operational capabilities
&bull The Placement has garnered substantial interest from existing shareholders, management team and investors across Singapore, Malaysia and Taiwan
&bull Listing and trading of the Placement Shares is expected to begin at 9.00 am on 10 July 2024
Winking Studios Limited (&ldquo Winking Studios&rdquo or the &ldquo Company&rdquo , and together with its subsidiaries, the &ldquo Group&rdquo ), one of Asia&rsquo s leading game art outsourcing studios and an established game development company, has garnered substantial interest for its placement (the &ldquo Placement&rdquo ) from(i) Acer Incorporated (&ldquo Acer&rdquo ), its existing indirect controlling shareholder, through its subsidiaries Acer Gaming Inc. and Acer SoftCapital Incorporated (together, the &ldquo Acer Group&rdquo ) (ii) the Company&rsquo s management team and (iii) existing and new investors from Singapore, Malaysia and Taiwan.
The placement involved the issue of up to 108.0 million new ordinary shares in the capital of the Company (the &ldquo Placement Shares&rdquo ) at an issue price of S$0.25 for each Placement Share (the &ldquo Placement Price&rdquo ). The Placement Price of S$0.25 for each Placement Share represents a discount of approximately 1.0% to the volume weighted average price of S$0.2524 for trades done on the SGX-ST on 9 April 2024, being the full market day on which the placement agreement was signed.
PrimePartners Corporate Finance Pte. Ltd. is the Placement Agent for the Placement.
As at the close of the Placement all 108.0 million new ordinary shares were validly subscribed for, andapplication monies received for the Placement Shares amounted to a total of S$27.0 million.
The listing and trading of the Placement Shares on the Catalist of the SGX-ST is expected to commence at 9.00 am on Wednesday, 10 July 2024.
Executive Chairman and Chief Executive Officer, Mr Johnny Jan (詹 承 翰 ), said: &ldquo We are heartened by the vote of confidence from regional investors from Singapore, Malaysia and Taiwan. Since our listing, we have been gaining interest and recognition from the investment community and have been actively expanding our network and market presence.
Since our IPO in November 2023, we have successfully completed the acquisition of an art studio - in Taiwan and the business and certain assets of an art studio in Malaysia, which is a new market for the Group. With these strategic acquisitions, we now have nine studios which are strategically located across Asia that serve a growing global customer base.
&ldquo Funds from this Placement are timely to support our ongoing pursuit of corporate initiatives, strategic acquisitions and enhancements to our operational capabilities to further strengthen our market position globally. We remain committed to implement our growth strategies to unlock new value propositions for all our stakeholders.&rdquo
The net proceeds of approximately S$26.5 million will enable Winking Studios to fund its business strategy and future plans such as strategic acquisitions, alliances and joint ventures, secondary or dual listings, to grow the Group&rsquo s market share and broaden its customer base globally.
The Group also intends to further enhance its current operational capabilities, which includes the development of artificial intelligence tools and maintaining high-quality services and art assets, and to expand and improve the infrastructure of its offices so as to increase its market presence globally.
Strategic Acquisitions since IPO in November 2023
To-date, the Group has completed two strategic acquisitions in 2024. Acquired in April 2024, On Point Creative Co., Ltd. is a Taiwan-based design studio specialising in complementary art outsourcing services, further expanding the Group&rsquo s network in Taiwan.
Malaysia-based Pixelline Production Sdn. Bhd., (&ldquo Pixelline Production&rdquo ) is mainly engaged in the provision of art outsourcing services and animation outsourcing services. The acquisition of the business and certain assets of Pixelline Production in June 2024, marked the Group&rsquo s first presence of art studio in Malaysia and is a strategic move which aligns with the Group&rsquo s business strategy to increase its market presence globally.
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Joelton
Supreme |
09-Jul-2024 10:22
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Winking completes proposed placement of 108 million shares at S$0.25 cents per share.
Winking Studios has completed the proposed placement of 108,000,000 shares which, upon completion, will take the total number of issued and paid-up shares, excluding treasury shares and subsidiary holdings of the company, to 387,698,275 shares from 279,698,275 shares previously.
The placement shares are expected to be listed and quoted on the Singapore Exchange S68 -0.1% (SGX) Catalist-board with effect from 9.00 am, on or around July 10.
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tedlim
Veteran |
04-Jul-2024 07:13
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The placees at 25 cents got a decent deal. Once they go London AIM listing...the sky is the limit with their peer Keywords Studio being bought out at 2.2 BILLION POUNDS. |
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For_The_Next_Leg
Master |
03-Jul-2024 08:18
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The importance of a business is not the one time big revenue. But the long term relationship that create recurring revenue.
" Winking Studios is thrilled to have been part of this IP for over 16 years, and it&rsquo s truly rewarding to see the outstanding results of this successful launch today"
https://www.investingnote.com/posts/2793450
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SmallSmall
Supreme |
02-Jul-2024 14:18
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This one has gone into uncharted territory. $0.30 |
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For_The_Next_Leg
Master |
01-Jul-2024 15:41
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Pixelline Production is in animation film, advertising and TV series. These are new revenue streams for Winking Studios.
https://links.sgx.com/FileOpen/Winking%20-%20Completion%20of%20Pixelline%20Acquisition%20Announcement.ashx?App=Announcement& FileID=808167
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Joelton
Supreme |
29-Jun-2024 13:04
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Winking Studios: World&rsquo s 4th Largest Game Art Studio Powers Up for Growth
By James Yeo
Gaming has significantly gained more popularity as a form of entertainment in the digital era. In 2023, the global gaming industry reached a staggering $396.2 billion, compared to the movie industry&rsquo s $283.5 billion and the music industry&rsquo s $69.2 billion.
According to HTF Market Intelligence, the game outsourcing services sector is predicted to experience a mind-blowing CAGR of 31.9% between 2024 and 2030. This translates to a market size increase of a jaw-dropping US$32.2 billion by 2030.
This forecast highlights the immense potential and lucrative opportunities within the game outsourcing service sector.
Notably, it was recently reported that one of European largest PE conglomerate, EQT, is in advanced talks to takeover the world&rsquo s largest gaming services group, AIM-listed Keywords Studios, for S$3.8 billion.
With the skyrocketing demand for services outsourcing in the gaming industry, this is the perfect timing for the world&rsquo s 4th largest game art studio (Asia&rsquo s 3rd largest gaming art studio) &ndash Winking Studios to make their mark.
About Winking Studios Limited
Headquartered in Singapore and recently listed on the Singapore Stock Exchange in November 2023, Winking Studios is one of the world&rsquo s largest game art outsourcing and game development studio.
With over 25 years of experience, the Group provides a complete of end-to-end art outsourcing and game development services across various platforms for the video games industry.
Winking Studios operates a network of eight studios strategically positioned in Nanjing, Shanghai, and Taipei. Their workforce of over 800 employees is heavily weighted towards talented designers and artists, allowing them to foster strong relationships with 21 of the top 25 game developers worldwide (such as Activision, NetEase Games, Nexon, NC Soft, Ubisoft, Tencent Games, Nintendo) over the past two decades, leveraging its reputation and connections to secure new projects.
On top of that, a notable strength of Winking Studios is its majority 59% ownership by Acer Group. This strategic shareholding brings about significant advantages due to Acer Gaming&rsquo s established industry relationships and strengthens Winking Studios&rsquo ability to deliver top-tier services to clients around the world.
Financial Performance
Winking Studios&rsquo revenue breakdown shown above demonstrates a balanced geographic distribution. While mainland China and Hong Kong contribute 41% of total revenue, the remaining revenue is spread relatively evenly across Taiwan, Korea, and the United States.
Next up, Winking Studios boasts a strong track record of revenue growth where it more than doubled from US$14.5 million in FY2020 to US$29.3 million in FY2023. This translates to a compound annual growth rate (CAGR) of 26.4%.
This impressive growth coincides with a significant increase in their workforce, with the number of employees expanding from 354 to 652 during the same period (CAGR of 22.6%), mirroring the booming APAC game art outsourcing market, which has witnessed a CAGR of 23.0%.
It is worth noting that with more employees, their revenue has increased correspondingly and it is aligned with the Group&rsquo s business strategy to accelerate their expansion via M& A activities.
Winking Studios possesses a strong cash position thanks to a 171.1% increase in cash and cash equivalents, primarily fuelled by their recent IPO. This healthy financial standing is further bolstered by the growth in trade receivables reflecting increased business activities and rising contract assets due to revenue expansion.
Despite a modest 8.4% increase in liabilities, it&rsquo s important to note the company has no borrowings at all! This solid financial foundation positions Winking Studios well for future growth and the ability to pay dividends &ndash which they recently announced a special dividend of 0.5 Singapore cents for FY2023.
Growth Prospects
Looking ahead, Winking Studios is focusing on growth both organically and via opportunistic acquisitions.
For the former, they aim to further expand their talent pool and actively explore the use of artificial intelligence (AI) to improve operational efficiency.
As for the inorganic growth, Winking Studios has been actively pursuing its acquisition strategy since its IPO as illustrated below:
All these, combined with planned expansion and upgrades to regional offices and supporting infrastructure, will help Winking Studios capitalize on the projected CAGR of 14.4% for APAC game art outsourcing between 2023 and 2027 (as per a China Insights Consultancy report).
Valuation
According to Bloomberg, Keywords Studios PLC (KWS LN) stands out as the undisputed leader in the game art outsourcing market with an extensive network spanning over 25 countries with more than 70 studios, employing a massive workforce of over 12,000 people worldwide.
Thus, this makes it the most relevant comparison for Winking Studios.
However, we also have other peers like Toei Animation Limited &ndash which I often recall as the anime-focused studio, Reallusion and Pole to Win Holdings.
With that in mind, when we compare their forward P/E ratio, we can see that Winking Studios is expected to be the cheapest among the 5 of them with a decent 27.7% expected earnings growth rate.
Conclusion
The video game industry is booming, and the demand for game art outsourcing is expected to rise alongside it.
This bodes well for Winking Studio&rsquo s future growth potential &ndash and KGI Securities and UOB Kay Hiay has recently initiated coverage with 47 cents and 35 cents target price respectively, reflecting their bullish sentiment.
Accelerating their growth plans ahead, the Group has announced a S$27 million share placement exercise and in addition, the Group has announced dual listing plans on the AIM market of the London Stock Exchange.
With Keywords Studios being acquired by EQT at a valuation of S$3.8 billion (close to 100 times PE), it seems logical that Winking Studio is pursuing an AIM listing. It would also appear that their M& A playbook is similar to Keywords Studios.
In addition, Winking Studios has demonstrated a consistent record of profitability, complemented by a strong balance sheet and operates in a promising industry with a strong backer &ndash Acer Group.
If the team at Winking Studios execute their plans accordingly in the next few years, it looks like SGX may have a global, market-leading, billion-dollar market cap Company on its bourse.
That being said, investors should always conduct their own research and consider their risk tolerance before making investment decisions.
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WBdisciple
Elite |
28-Jun-2024 16:23
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Confirmation: Keywords Studios gets $2.48 bln takeover bid from EQT https://www.reuters.com/markets/deals/keywords-studios-set-recommend-25-billion-takeover-by-eqt-2024-06-28/ June 28 (Reuters) - Keywords Studios (KWS.L), has received a takeover proposal worth 1.96 billion pounds ($2.48 billion) from European private equity group EQT (EQTAB.ST), the Dublin-based video game services firm said on Friday. The updated 2,450 pence-per-share offer follows a revised possible cash offer of 2,430 pence bid received on June 26, and the board would recommend the proposal to its shareholders if a firm offer is made by EQT, Keywords said in a statement. |
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tedlim
Veteran |
28-Jun-2024 08:05
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I like this company..but not much volume, cannot buy much without price running. |
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WBdisciple
Elite |
27-Jun-2024 08:12
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Tencent&rsquo s &lsquo Dungeon & Fighter&rsquo game dominates China&rsquo s mobile download charts
TENCENT Holdings&rsquo s newly launched Dungeon & Fighter (DnF Mobile) has got off to a strong start, dominating top-grossing charts on Apple&rsquo s iOS platform in China for nearly a month, industry data showed.
The game, launched in the world&rsquo s biggest gaming market on May 21, broke the US$100 million revenue mark in just 10 days, according to a report released by data analytics firm Sensor Tower this week.
It also topped the global mobile game revenue growth chart for May and ranked 8th in overall revenue.
In the first 10 days of its launch, DnF Mobile&rsquo s revenue in China&rsquo s iOS market surpassed the combined earnings of Tencent&rsquo s other popular titles Honor of Kings and PUBG Mobile, according to a separate Sensor Tower report dated Jun 17.
This surge contributed to a 12 per cent growth in Tencent&rsquo s mobile game revenue in May, according to Sensor Tower.
The DnF Mobile title, based on a popular PC franchise, had been available internationally for years. Its China launch was delayed due to Beijing&rsquo s temporary freeze on new game approvals.
DnF Mobile&rsquo s early success comes amid ongoing tensions between Tencent and smartphone vendors over gaming revenue sharing.
Earlier this month, Tencent pulled the game from selected Android app stores, citing contract expiries.
Game developers in China have long had a contentious relationship with distributors over issues such as revenue sharing, as mobile games become increasingly popular in the broader game market. The standard 50 per cent revenue split has often been a bone of contention.
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