"宏观经济的持续景气带动相关企业增长，同时伴随科技进步推动平台经济扩展。" 中信证券: 继续看好平台经济，首选美团 (03690.HK)、腾讯 (00700.HK)、腾讯音乐 (TME.US) 和阿里 (BABA.US)。

CMB International published a report stating that despite facing some macroeconomic headwinds, leading platform internet companies continue to maintain business resilience, benefiting from ongoing cost reduction and efficiency improvements, healthy profit growth, and stable shareholder returns. The current industry valuation is at a low point, strongly defensive, with potential profit upward factors next year coming from macro policy stimulus, overseas expansion opportunities, and progress in AI business. The firm's preference for sub-industries is local life services → advertising → Gaming = value-added services → e-commerce → cloud → live streaming. Top picks include Meituan (03690.HK), Tencent (00700.HK), Tencent Music (TME.US), and Alibaba.

AASTOCKSDec 19 14:46

SPDB International HK Starts NetEase Cloud Music at Buy With HK$145 Price Target

MT NewswiresDec 18 16:33 · Ratings

Pu Yin International: Online music has become an important growth driver in the music market, with the platform's bargaining power gradually increasing.

The increase in penetration rates, subscription fee hikes, and expansion of content beyond music will drive the long-term growth of music streaming platforms in the future.

Zhitong FinanceDec 18 13:33

Hong Kong stock movement | NetEase Cloud Music (09899) rose nearly 6% in the morning, continuously expanding its copyright library and optimizing the experience. Institutions are Bullish on the company's potential for revenue and profit growth.

NetEase Cloud Music (09899) rose nearly 6% in the morning session, as of the time of writing, it is up 4.52%, reported at 122.5 Hong Kong dollars, with a turnover of 14.3218 million Hong Kong dollars.

Zhitong FinanceDec 18 11:10

The Spring Festival season is approaching! Hong Kong stock movie shares are rising in response, ali pictures has increased by over 5%.

① What measures has the government implemented to boost consumer spending in the film industry? ② How do the institutions view the film market in 2025?

cls.cnDec 10 11:00

Market Update | Movie concept stocks continue to heat up, maoyan ent rises over 8% leading the charge, with films for the 2025 Spring Festival gradually being scheduled.

The concept stocks of movies continue to gain popularity.

Zhitong FinanceDec 10 10:25