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<Research>Citi Attributes CHINA LIT's Worse-Than-Expected 2025 Results to Limited Content Release by NCM
Recommend 7 Positive 5 Negative 10 |
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According to a report from Citi, CHINA LIT (00772.HK)'s profit warning forecasted last year's non-IFRS adjusted net profit to have reached RMB800-900 million, below both Citi's and the market's expectations. In Citi's estimate, New Classics Media (NCM) may record a loss in FY25 due to limited drama content releases as a result of delays in content progress, compared to the broker's original assumption of releasing six dramas in 2H25 and a profit of RMB243 million. The possible profit of RMB1 billion from non-NCM businesses is also lower than the broker's pre-results forecast of RMB1.08 billion. Citi has given CHINA LIT a Buy rating and a target price of HKD38. AASTOCKS Financial News |
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