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<Research>CICC Cuts ALI PICTURES (01060.HK) TP to $0.53; Results Miss Consensus
Recommend 5 Positive 6 Negative 2 |
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ALI PICTURES (01060.HK) has announced its results for 1HFY25 ended September, CICC released a research report saying. The company's revenue soared 17% YoY to RMB3.051 billion, while its net profit tumbled 27% YoY to RMB337 million. Its non-GAAP EBITA surged 39% YoY to RMB642 million, while non-GAAP net profit touched RMB451 million, down 14% from last year. The results fell short of market expectations, mainly due to higher-than-expected management expenses. Considering higher-than-expected increases in expenses and others despite an upward adjustment in Damai revenue, the broker cut its FY24-FY25 non-GAAP net profit forecasts for ALI PICTURES by 1.9%/ 15.7% to RMB625 million/ RMB1.047 billion, while maintaining the Outperform rating unchanged with a target price lowered by 17% to $0.53. AAStocks Financial News |
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