里昂发表研究报告指，阅文集团上半年业绩胜预期，主要受惠于IP衍生商品交易总额(GMV)稳健增长，以及剔除新丽传媒(NCM)后的经调整净利润创新高。该行认为IP授权与衍生商品业务将可释放IP资产长期变现潜力，包括文学、漫画及动画等IP资产。长远而言，预计IP授权占整体收入的占比会显著提高，而该业务的利润表现较佳。该行上调阅文2025及26年经调整净利润预测分别4%及2%，将目标价由35港元上调至40港元，维持“跑赢大市”评级。
里昂发表研究报告指，阅文集团上半年业绩胜预期，主要受惠于IP衍生商品交易总额(GMV)稳健增长，以及剔除新丽传媒(NCM)后的经调整净利润创新高。该行认为IP授权与衍生商品业务将可释放IP资产长期变现潜力，包括文学、漫画及动画等IP资产。长远而言，预计IP授权占整体收入的占比会显著提高，而该业务的利润表现较佳。该行上调阅文2025及26年经调整净利润预测分别4%及2%，将目标价由35港元上调至40港元，维持“跑赢大市”评级。
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