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[Tencent Music (TME US, SELL, TP US$5.7) TP Change]: Competition Remains the Biggest Downward Factor
Recently, Douyin has been advancing the integration of its large entertainment division. We anticipate that this will pose pressure on TME. Remain...
Blue Lotus Research Institute
190 Views
TME (TME US) – Improving profitability despite pressure on social entertainment business
TME announced 2Q23 financial results on 15 Aug. Total revenue grew by 5.5% YoY and 4.0% QoQ to RMB7.3bn in 2Q23, in line with CMBI/consensus...
CMB International
194 Views
TME (TME US) – Solid Earnings Growth Despite Social Entertainment Business Adjustment
We expect 2Q23 total revenue to grow 4% YoY to RMB7.2bn (3% below consensus), mainly due to enhanced live streaming procedures started in late 2Q
CMB International
125 Views
[Tencent Music (TME US, SELL, TP US$6) Preview]: Competition Is Still a Concern, Maintain SELL
We expect TME's 2Q23’s rev./non-GAAP net income to be (1.8%)/ (3.9%) vs cons. We maintain SELL because of continuous pressure from Bytedance’s Soda...
Blue Lotus Research Institute
490 Views
ECM Weekly (1st Oct 2023) - Cainiao, J&T, Kokusai, Seoul Guarantee, Ecopro, Leapmotor, Bajaj Finance
Aequitas Reserach puts out a weekly update on the deals that were covered by the team recently along with updates for upcoming IPOs.
Sumeet Singh
125 Views