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<Research>Haitong Int'l Trims TME-SW (01698.HK) TP to USD17, Rating Outperform
Recommend 2 Positive 2 Negative 3 |
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TME-SW (01698.HK)'s 4Q25 total revenue beat forecast by 3%, up 16% YoY to RMB8.6 billion, Haitong International said in a research report. Music subscription revenue was 2% below expectations, up 13% YoY to RMB4.6 billion, while ads and other revenue topped expectations by 11%, up 41% YoY to RMB2.5 billion. The quarterly adjusted net profit met expectations, up 9% YoY to RMB2.5 billion. The company's forecast 1Q26/ FY26 revenues were RMB7.9 billion and RMB36.1 billion, respectively, up by 8% and 10% YoY. The forecast 1Q26/ FY26 adjusted net profits were expected to be RMB2.2 billion and RMB10.5 billion, respectively, up by 5% and 9% YoY. The broker trimmed its target price from USD24 to USD17, maintaining its Outperform rating. AASTOCKS Financial News Website: www.aastocks.com |
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