China Lit (00772) fell more than 3%, as of press time, down 3.64%, to HK$23.85, with a turnover of 43.7306 million Hong Kong dollars.
According to the WiseNews app, China Lit (00772) fell more than 3%, as of press time, down 3.64%, to HK$23.85, with a turnover of 43.7306 million Hong Kong dollars.
On the news front, China Lit recently released its mid-term performance report for 2024, achieving revenue of 4.19 billion yuan, up 27.7% year-on-year, mainly due to the concentration of several key projects. Copyright operations and other business income increased by 73.3% year-on-year, the largest increase in the past three years. The company's equity holders are expected to earn about 0.504 billion yuan, up 33.9% year-on-year.
BOCOM International stated that it has slightly raised China Lit's 2024 adjusted net profit forecast by 1% to 1.4 billion yuan, based on a compound annual profit growth rate of 21% from 2023 to 2025, with a target price of HK$29. However, there is a lack of short-term stock price catalysts and maintaining a "neutral" rating. Nomura lowered its adjusted net profit forecast for China Lit for this year and next year each by 2% and 4%, respectively, mainly due to the expected decrease in contribution from New Classics Media. The target price was lowered from HK$31.8 to HK$29.8.