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Express News | Shares of US-listed Chinese Companies Are Trading Lower After China's Central Bank Left Its One-year and Five-year Loan Prime Rates Unchanged at 3.35% and 3.85% Respectively
Sealand Securities: Maintains a "buy" rating for Tencent Holdings with a target price of HKD 466.
Sealand Securities published a research report stating that it maintains a "buy" rating on Tencent Holdings (00700), considering the company's stable gaming business, continuous growth of advertising beyond expectations, and significant year-on-year improvement in profit margin. It has raised its profit expectations and expects the company's revenue to be 665.6/727.7/788.6 billion yuan for FY2024-2026, with a non-IFRS net income attributable to the mother of 223.8/253.9/282.4 billion yuan and a target price of 466 Hong Kong dollars. Sealand Securities' main viewpoint is as follows: On August 14, 2024, the company announced its 2024 Q2 financial report, with revenue of 161.1 billion yuan for 2024 Q2.
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Tencent Music Entertainment Group (TME) Q2 2024 Earnings Call Transcript Summary
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HK stock market unusual move | Tencent Music-SW(01698) drops nearly 4%. Net member increase guidance lowered and target price is lowered by several major banks after earnings report.
Tencent Music - SW (01698) fell nearly 4%. As of press time, it fell 3.79% to HKD 41.85, with a turnover of 14.6501 million HKD.
Tencent Music Entertainment Group Second Quarter 2024 Earnings: EPS Beats Expectations
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Express News | Tencent Music Entertainment Group : JP Morgan Cuts Target Price to $16 From $18
[Exclusive Big V] Deng Shengxing: Mainland data is weak, Hong Kong stocks' trend is lacklustre.
On Wednesday, the Hang Seng Index closed at 17,113, down 60 points or 0.35%. The turnover of the market was 68 billion yuan throughout the day. The national index fell by 24 points or 0.40%, at 6025. The science and technology index fell by 33 points or 1%, to 3395. Tencent (00700), which released its semi-annual performance after the market closed, fell 1.3%, while Tencent Music (01698) dropped 18.1% at the close. Tencent announced after the market closed that its profits for the first half of the year were 107.578 billion yuan RMB, up 53% year-on-year based on non-IFRS financial reports. The Dow Jones industrial average closed on Wednesday (14th) at 4.
Orient Securities: Maintains "Buy" rating on Tencent Music-SW (01698) with a target price of HKD 53.17.
With the double increase of online music paying users and ARPPU, the proportion of online music revenue in the overall structure continues to increase.
[Brokerage Focus] Bocom Intl. lowered Tencent Music's (01698) target price by 13.8% due to slower new membership growth, but the long-term growth potential remains unchanged.
Jingu Finance | Bocom International released a research report stating that Tencent Music's Q2 revenue basically met expectations, with a year-on-year decrease of 2%, still affected by social entertainment business. The adjusted net income attributable to mother was RMB 1.87 billion, higher than the market expectation, with an adjusted net margin of 26%, which increased both year-on-year and month-on-month. Benefit from the optimization of gross margin and management expenses. The bank pointed out that the management will strengthen the operation of SVIP to promote the growth of ARPPU, and the net increase in members will return to steady growth. The bank expects Q3 music subscription revenue to increase by 21%, with a net increase of 1.7 million members (14 million for the whole year), and a year-on-year increase of 5% in monthly ARPPU; Non-
Tencent Music Ent Price Target Cut to $15.00/Share From $18.00 by B of A Securities
Tencent Music Ent Is Maintained at Buy by B of A Securities
Tencent Music Enter Gr Analyst Ratings
Morgan Stanley Adjusts Tencent Music Entertainment Group's PT to $15 From $19, Keeps Overweight Rating
Express News | Tencent Music Entertainment Group : BofA Global Research Cuts Price Objective to $15 From $18
Express News | Tencent Music Entertainment Group : Benchmark Cuts Target Price to $15
Daiwa downgraded Tencent Music-SW rating to hold, with target price cut to HKD 46.
Daiwa released a research report stating that it downgraded Tencent Music Symbol (01698) from "buy" to "hold" for the second consecutive time, and cut its target price from HKD 66 to HKD 46. The report stated that the company's second-quarter performance roughly matched market expectations, and the latest guidance for the music subscription target for 2025 was a year-on-year increase of 18%, which was lower than the bank's expectations, along with guidance for the second half of this year, and the company has also delayed the timing of achieving its medium to long-term goals. Daiwa stated that considering the growth of subscription revenue is lower than expected, the company's revenue forecast for 2024-2026 is lowered by 5% - 9%, and EPS forecast is reduced by 6% - 12%. Daiwa said that the company