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Top Gap Ups and Downs on Friday: NVO, HSBC, AMAT and More
How do foreign investors adjust their positions in Chinese stocks? Alibaba and jd.com frequently appear, while Buffett builds a position that boosts 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?
China Data Point to Gradual Improvement, but Tariff Risk Looms
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
[Brokerage Focus] Bocom Intl maintains a buy rating on Tencent Music (01698), expecting a 17% increase in music subscription revenue in the fourth quarter.
Jinwu Financial News | Bocom Intl released a research report indicating that Tencent Music (01698) had a third-quarter revenue of 7 billion yuan (RMB, same below), showing a year-on-year recovery in positive growth. The gross margin was 43%, which is an improvement of 0.6 percentage points compared to the previous quarter. Adjusted net income attributed to the parent company increased by 29% year-on-year, with an adjusted net margin of 26%, remaining basically stable quarter-on-quarter. Music subscription revenue grew by 20% year-on-year, of which: 1) The number of music members increased by 2 million quarter-on-quarter, slightly better than the previous expectations of the institution; 2) The monthly ARPPU was 10.8 yuan, with year-on-year and quarter-on-quarter growth of +5%/1%. The institution estimates that in the fourth quarter, music subscription revenue will grow by 17%, with a net increase of 2 million members.
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