Tencent Music-SW (01698) rose more than 8% at the end of the session, reaching a record high of HK$49.65. As of press release, it rose 8.2% to HK$49.5, with a turnover of HK$6.427,900.
The Zhitong Finance App learned that Tencent Music - SW (01698) rose more than 8% at the end of the session, reaching a record high of HK$49.65. As of press release, it rose 8.2% to HK$49.5, with a turnover of HK$6.427,900.
According to the news, Tencent Music will review the first quarter results on May 11. Damo said earlier that it is expected that the company's performance in the first quarter will improve. Driven by Lunar New Year promotions, the net increase in the number of users in the music business will reach a new high, but this was partially offset by a slight loss of users in March. According to the bank, stronger net growth in music business users means that the prospects for music revenue growth in the first quarter are positive. Currently, it is predicted that revenue from this business will increase by 41% year on year, while ARPPU is expected to remain flat from quarter to quarter. Damo currently predicts that Tencent Music's net profit will increase 17% and 29% year-on-year this year and next two years. It is hoped that the potential increase in capital returns will support the stock price, giving it an “increase in wealth” rating.