TacticScaleWhat Kingnet Network (恺英网络) Does & How It Makes Money (002517.SZ)
Updated October 2026 · reflects Kingnet Network's latest reported financials
Chinese developer, publisher and distributor of mobile and online games. Kingnet earns most of its money from the mobile and online games it develops, operates and publishes, on its own IPs and on licensed ones.
How Kingnet Network makes money
Kingnet earns most of its money from the mobile and online games it develops, operates and publishes, on its own IPs and on licensed ones. It also brings in some revenue from its distribution channels (platforms, live streaming and short video), internet technology and animation products.
What Kingnet Network does
Kingnet Network is a Shanghai-based game company, founded in 2000, that develops, operates and publishes mobile and online games in China and internationally. Its catalog mixes its own game brands with licensed IPs. These include the Chinese Paladin / Legend of Sword and Fairy and Xuan-Yuan Sword franchises, Mobile Suit Gundam, OVERLORD, Nobunaga's Ambition, Monopoly and Gu Long's martial-arts novels, plus titles such as Original Legend, Angel War and Eternal Alliance. It also publishes MMO games like Gods of War: Shadow Princess in Hong Kong, Macau and Taiwan. Beyond making games, Kingnet runs distribution through domestic and overseas platforms, a set of multimedia accounts, live streaming and short-video incubation. It also develops cultural IPs such as Sui Shi Ling (traditional festivals) and Baigongling (traditional handicrafts), and offers internet technology and animation products.
Products & services
- Legend of Sword and Fairy (Chinese Paladin)
- Original Legend
- Gods of War: Shadow Princess
- Mobile Suit Gundam Series games
- Gu Long Heroes
- Monopoly
恺英网络是做什么的？
恺英网络成立于2000年，总部位于上海，在国内和海外研发、运营和发行手机游戏和网络游戏。产品既有自有游戏品牌，也有授权IP，包括仙剑奇侠传、轩辕剑、机动战士高达、OVERLORD、信长之野望、大富翁和古龙武侠系列，以及原始传奇、天使之战、永恒联盟等游戏。公司还在港澳台地区发行《战神：影之公主》等MMO游戏。 除了做游戏，恺英网络还通过国内外平台、自媒体账号矩阵、直播和短视频孵化来分发内容和触达用户。公司还在打造岁时令（传统节日）、百工灵（传统手工艺）等文化IP，并提供互联网技术和动漫产品。
What is Kingnet Network worth?
On an owner-earnings DCF, Kingnet Network's most-likely value is about ¥42 versus a recent price near ¥16 (61% below fair value). But TacticScale only calls a stock undervalued when the price sits below its conservative no-growth floor (~¥13) with a margin of safety — so the honest verdict here is “Fairly priced — no edge.” Fair value earns its keep only at the extremes, not in the wide middle.
Price sits in the normal range — fair value isn't actionable here; it earns its keep only when price drops below the no-growth floor, or runs to roughly double the optimistic case.
Analysis, not advice. Fair value is a margin-of-safety estimate from a deterministic owner-earnings DCF, not a price target or recommendation. See the full breakdown →
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