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Tencent Music Newsroom
Hong Kong stocks morning report on November 20: hkbn received a takeover offer from china mobile. goldman sachs recommends continuing to overweight A-shares and listed in hong kong.
1. hkbn received a takeover offer from china mobile. 2. goldman sachs recommends continued overallocation of a shares and h shares. 3. robin zeng said that the main listing in hong kong brings greater liquidity to alibaba stocks. 4. zto express reported a profit of nearly 2.4 billion yuan in the third quarter.
Research reports unearthed | China Merchants: Lowering tencent music target price to $15, lowering core earnings estimates for 2025 and 2026 fiscal years.
On November 19, Longtuohui reported that china merchants published a report indicating that tencent music's revenue for the third quarter was 7 billion yuan, reflecting a 7% year-on-year recovery (a decline of 2% in the second quarter), which met expectations. Subscription revenue grew by 20% year-on-year (29% year-on-year growth in the second quarter), also in line with expectations. The number of paid users reached 0.119 billion, an increase of 2 million from the previous quarter, slightly better than expected. ARPPU was 10.8 yuan, an increase of 0.1 yuan from the previous quarter. Non-subscription revenue grew by 20% year-on-year (up 24% year-on-year in the second quarter), slightly below expectations, mainly due to delays in some concert plans, while advertising revenue remained stable with a growth rate that exceeded expectations.
Hong Kong stocks morning report on November 19: Hong Kong Exchanges and Clearing is preparing various optimization measures for mutual market access. Goldman Sachs predicts a 15% increase in the MSCI China Index by 2025.
① The Hong Kong Stock Exchange stated that it is preparing multiple optimization measures for mutual connectivity. ② S.F. Holding plans to issue 0.17 billion H shares through an IPO in Hong Kong. ③ Goldman Sachs expects the MSCI Chinese Index to rise by 15% by 2025. ④ Xiaomi's revenue in the third quarter increased by approximately 30% year-on-year.
China Merchants Securities lowered tencent music (TME.US) target price to $15, super members steadily advancing.
China Merchants published a report stating that Tencent Music-SW (01698.HK) had a revenue of 7 billion yuan in the third quarter, recovering 7% year-on-year (down 2% in the second quarter), which met expectations. Subscription revenue increased by 20% year-on-year (29% year-on-year growth in the second quarter), meeting expectations, with paying users reaching 0.119 billion, an increase of 2 million from the previous quarter, slightly better than expected. The ARPPU was 10.8 yuan, an increase of 0.1 yuan from the previous quarter. Non-subscription revenue increased by 20% year-on-year (24% year-on-year growth in the second quarter), slightly below expectations, mainly due to delays in certain concert plans, while advertising revenue is still being assessed.
tencent music (1698.HK) 24Q3 Review: SVIP driving member ARPPU growth, gross margin continues to improve
In Q3 24, the company's revenue was 7.02 billion RMB (YoY +6.8%, QoQ -2.0%). The gross margin of the company is 42.6% (YoY +7.0pp, QoQ +0.6pp), mainly benefiting from music subscriptions.
Top private equity funds in China expose the 'US stock report': the proportion of Chinese concept stocks continues to rise, with PDD Holdings and Apple being the focus of differences in components.
In the third quarter of this year, most Chinese private equity firms, such as Hillhouse, Gao Yi, and Jinglin, remained focused on Chinese concept stocks. However, Hillhouse and Jinglin chose to reduce their shareholding in pdd holdings, while Gao Yi opted to continue increasing its stake in pdd holdings.
How do foreign investors adjust their positions in Chinese stocks? Alibaba and jd.com frequently appear in the news, while Buffett builds his position to 'lift' a Hong Kong stock.
① The 13F quarterly reports for US stocks have been released. How are Wall Street institutions adjusting their positions on Chinese stocks? ② Buffett's investment in domino's is boosting a Hong Kong stock. What are the highlights?
Here's Why Tencent Music Entertainment Group (TME) Is Poised for a Turnaround After Losing -12.04% in 4 Weeks
Tencent Music Entertainment Group Third Quarter 2024 Earnings: EPS Beats Expectations
Daiwa's report: tencent music (01698.HK) had no significant surprises in its third-quarter performance, maintaining a "hold" rating.
Daiwa published a research report stating that tencent music (01698.HK) third-quarter performance basically meets market expectations. Although the company's revenue and profit guidance for next year only meet market expectations, the bank estimates that under the leverage of content costs and strict control of operating expenses, the company's profitability may exceed expectations. The bank mentioned that tencent music's target for next year's music subscription revenue growth is 16%, slightly lower than the market and the bank's forecast of 17% to 18%. The company expects the quarterly net increase in users and the expansion rate of average revenue per paying user (ARPPU) per month to be slightly lower than expected. However, the bank believes tencent music
[Brokerage Focus] Bocom Intl maintains a buy rating on Tencent Music (01698), expecting a 17% growth in music subscription revenue in the fourth quarter.
Jinwu Financial News | bocom intl published a research report indicating that tencent music (01698) had a revenue of 7 billion yuan (RMB, the same below) in the third quarter, marking a year-on-year return to positive growth. The gross margin was 43%, improving by 0.6 percentage points quarter-on-quarter. The adjusted net income attributable to the parent company increased by 29% year-on-year, with an adjusted net margin of 26%, remaining approximately stable quarter-on-quarter. Music subscription revenue increased by 20% year-on-year, including: 1) Music members increased by 2 million quarter-on-quarter, slightly better than previous expectations; 2) Monthly ARPPU was 10.8 yuan, showing a year-on-year and quarter-on-quarter increase of 5% and 1%, respectively. The firm expects a 17% increase in music subscription revenue in the fourth quarter, with a net increase of 2 million members, monthly.
Hong Kong stocks morning report on November 14: real estate welcomes a large financial and tax package while most china concept stocks declined.
① The USA's CPI in October rose by 2.6% year-on-year, in line with market expectations. ② The three major US stock indexes had mixed results, with most china concept stocks declining. ③ The real estate sector is welcoming a financial and tax boost, with both deed tax and value-added tax decreasing. ④ The newly elected president of the USA, Trump, has nominated several people for important positions. ⑤ The usd hit a one-year high. ⑥ After bitcoin surged past 0.093 million dollars to reach a new high, it subsequently turned downward.
US stocks close: Inflation report eases market concerns, with mixed performances in the three major stock indexes. The Chinese concept stock index fell by 1%.
① Most china concept stocks declined, the nasdaq china golden dragon index fell by 1.09%; ② AMD will cut about 4% of its global workforce; ③ The low-cost aviation spirit airlines is on the verge of bankruptcy; ④ The likelihood of the Federal Reserve cutting interest rates by 25 basis points in the December meeting exceeds 82%.
Express News | Bernstein has lowered the target price of tencent music from 14 dollars to 13 dollars.
Express News | Tencent Music Entertainment Group : Bernstein Cuts Target Price to $13 From $14
Bernstein Maintains Tencent Music(TME.US) With Buy Rating, Cuts Target Price to $13
A Quick Look at Today's Ratings for Tencent Music(TME.US), With a Forecast Between $14 to $16
In Q3, tencent music's revenue increased by 6.8% year-on-year, and the number of paid users for online music grew by 15.5%.
Tencent Music Entertainment Group (TME) Q3 2024 Earnings Call Highlights: Strong Growth in ...
Citi Bank: tencent music's third-quarter profits slightly exceeded expectations, giving it a 'buy' rating.
Gelonghui November 13th | Citigroup's report pointed out that tencent music's third-quarter revenue increased by 6.8% year-on-year to 7 billion yuan, meeting the bank and market expectations, mainly due to online music service revenue increasing by 20.4% year-on-year to 5.48 billion yuan, despite being 1.7% lower than the bank's forecast. Among them, subscription revenue rose by 20.3% year-on-year to 3.84 billion yuan, accounting for 55% of total revenue, roughly in line with the bank's expectations; social entertainment revenue fell by 23.9% year-on-year to 1.54 billion yuan, but still higher than the bank's forecast of 1.43 billion yuan. The bank believes that tencent music's third-quarter adjusted net income increased by 29.1% to 1