02:47
UBS: Raises target price for Reads Group to HKD 33, mid-term performance may disappoint expectations
UBS expects that the revenue of China Literature Group will decrease by 25% to 3.2 billion RMB in the first half of the year, which is lower than market expectations. Online business revenue remains flat, while self-owned IP revenue has decreased by 4% due to the lack of issued series, and New Classics Media's revenue is expected to decline by 97%. The bank has lowered its revenue forecasts for the fiscal years 2025 and 2026, maintaining a "neutral" rating, with a target price raised to 33 HKD.
IP-2.28%
- 1