MS-CLIT@EC2610A

CLSA Raises Target Price for Tencent's Literature Unit, Confirms IP Commercialization Breakthrough

UBS Downgrades 2025 Profit Forecast for Tencent's Webnovel, Maintains Buy Rating

Huatai Securities Maintains Buy Rating for Reading Group, Target Price at HKD 47.20

Nomura Raises Tencent's Webnovel Group Rating to Buy, Sets Target Price at HKD 47

Yuewen Group Issues Profit Warning for 2025 Fiscal Year, Anticipating Loss of RMB 750 to 850 Million

Yuewen Group to Fully Embrace AI, Enhance IP Development Efficiency

Yuewen Group Releases 2025 Internal Letter, Clarifies Three Core Strategic Directions

Yuewen Manga Drama Assistant to Fully Integrate with Shengshu Technology's Multi-Modal Large Model Vidu

Yuewen Short Drama's 2025 Annual Report: Over 120 Short Dramas Produced and Collaborations with Multiple Institutions

Yuewen Group Proposes to Repurchase Up to 102 Million Shares

Yuewen Group Plans to Repurchase Up to HKD 1.2 Billion in Shares

Earning Boost Expected as Tencent's WebNovel Ventures into AI-Driven Manga

Ruanwen CEO Announces Business Upgrades and Launches Global Collectible Creation Plan

Yuewen Group Announces Major AI Technology Upgrade, Launching Three Applications

IQIYI Group Upgrades Creation Partnership Program to Layout Manhua Drama Ecosystem

READCOM GROUP COLLABORATES WITH RESORT WORLD SENTOSA TO LAUNCH 'THE ABNORMAL IMMORTAL BEING' IP ADVENTURE HOUSE

Rice Quantum issues 24,400 shares under the Share Option Scheme

Rupert Literature issued 5,246 shares under the share option plan

Yuewen Group Grants 4.5316 million RSUs

China Merchants Securities Releases Mid-Year Performance Analysis Report for Tencent Literature Group in 2025

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EASY SMART GP(02442) fell 14.87%, with a trading turnover 11.7 Million HKD, and a year-to-date fell 25%. 51WORLD(06651) fell 10.16%, with a trading turnover 45.3 Million HKD, and a year-to-date rose 41.2%. VOBILE GROUP(03738) fell 9.18%, with a trading turnover 186.7 Million HKD, and a year-to-date rose 39.7%.

Top Gainers & Losers

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Top 10 HK Stock Losers (2.20)

China Literature Ltd. expects a net loss of up to 850 million yuan for last year, primarily due to a 1.8 billion yuan goodwill impairment charge from its acquisition of New Classics Media. The company's stock has experienced significant volatility, dropping 20% after peaking at HK$45.50, and recently fell 8% following the profit warning. Despite challenges, including a decline in revenue and core operations, the company aims to improve its future performance through a new strategy focusing on content, AI, and globalization.

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Will China Literature Turn The Page?

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Citi released a research report stating that although China Literature recently issued a profit warning, with net profit affected by goodwill impairment and losses from New Classics Media, the adjusted net profit from core IP and online business is expected to reach a new high of RMB 1 billion in 2025. The bank raised its target price to HKD 42.3, maintaining a "outperform" recommendation, and predicts that online business revenue will remain flat at RMB 2 billion in the second half of 2025, with IP operations driving growth, expecting profits to reach RMB 457 million, benefiting from strong IP demand and merchandise sales

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ChinaAMC CSI Animation Game ETF

ChinaAMC CSI Cultural Entertainment Media ETF

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Guotai CSI Movies Theme ETF

Yinhua CSI Movies Theme ETF

In "The Big Bank," Citigroup: China Literature's core IP and online business profits hit a record high, raising the target price to 42.3 yuan

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UBS raised the target price for CHINA LIT to HKD 52, expecting that short dramas and animated short dramas will contribute RMB 100 million in profits this year. Despite CHINA LIT issuing a profit warning, forecasting a 21% to 30% decline in net profit by 2025, UBS holds a positive view on its short drama and animated short drama business, believing it can provide additional growth momentum. The bank also lowered its adjusted net profit forecasts for CHINA LIT for last year and this year, reflecting the uncertainty in the profitability outlook for New Classics Media

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UBS raises the target price of CHINA LIT to 52 yuan, expects short dramas and animated short dramas to contribute 100 million yuan in profit this year

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36Kr learned that the Hang Seng Index opened down 0.25%, and the Hang Seng TECH Index fell 0.19%. Alibaba-W dropped 1.8%, Tencent Holdings fell 0.38%, JD.com-SW decreased by 0.85%, and Meituan-W declined by 0.61%; AI application stocks strengthened, with VOBILE GROUP leading the rise at 14.38%, Haizhi Technology Group up 12.1%, Zhipu rising over 7%, and CHINA LIT increasing by 2.53%

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E Fund CSI HK Connect Internet ETF

Global X E-commerce ETF

KraneShares 2x Long BABA Daily ETF

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BABA 2x Long Daily ETF - GraniteShares

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The Hang Seng Index opened down 0.25%, and the Hang Seng TECH Index fell 0.19%

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In a report released on February 13, from Huatai Securities maintained a Buy rating on China Literature, with a price target of HK$47.20. The company’s shares closed last Thursday at HK$39.50.Valentine's Day Sale - 70% OffUnlock hedge fund-level data and powerful investing tools for smarter, sharper decisions Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential China Literature has an analyst consensus of Moderate Buy, with a price target consensus of HK$45.35.

Tip Ranks

Bosera CSI Global China Education Theme ETF(QDII)

CHINA PUBLISHING & MEDIA

Huatai Securities Keeps Their Buy Rating on China Literature (CHLLF)

Nomura Upgrades China Literature to Buy From Neutral, Adjusts Price Target to HK$47 From HK$33

marketscreener

Nomura Upgrades China Literature to Buy From Neutral, Adjusts Price Target to HK$47 From HK$33

Nomura has upgraded CHINA LIT's rating to "Buy," raising the target price from 33 yuan to 47 yuan. The firm holds an optimistic view on CHINA LIT's short drama and animation business prospects, believing it will benefit from favorable industry trends. CHINA LIT is one of the largest online literature platforms in mainland China, with a large user base and high-quality IP. Its online reading business continues to generate stable cash flow, and IP management has become a driving force for revenue growth

Nomura upgraded the rating of CHINA LIT to "Buy" and raised the target price to 47 yuan

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160 HEALTH(02656) fell 30.73%, with a trading turnover 142.2 Million HKD, and a year-to-date rose 14.4%. QINGSONG HEALTH(02661) fell 17.37%, with a trading turnover 39.6 Million HKD, and a year-to-date rose 10.6%. 51WORLD(06651) fell 17.33%, with a trading turnover 49.2 Million HKD, and a year-to-date rose 34.4%.

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Top 10 HK Stock Losers (2.11)

China Literature Ltd. has issued a profit warning for the financial year ending December 31, 2025, expecting an IFRS loss of approximately RMB750 million to RMB850 million, a significant increase from the previous year's loss of RMB209 million. The larger loss is attributed to an estimated RMB1,800 million impairment of goodwill and a cautious production strategy affecting its subsidiary, New Classics Media. Audited results are expected on March 17, 2026.

Reuters

China Literature Expects 2025 Loss of Up to RMB850 Million

Citi released a research report stating that CHINA LIT issued a profit warning, expecting last year's non-IFRS adjusted net profit to be between RMB 800 million and 900 million, lower than expected. New Classics Media may record a loss in the fiscal year 2025 due to limited content releases. Citi believes that CHINA LIT's earnings for 2025 will fall short of expectations mainly due to delays in content releases from New Classics Media, while non-New Classics Media businesses slightly missed expectations. The market is expected to lower CHINA LIT's earnings forecast, and the stock price may decline, maintaining a "Buy" rating for CHINA LIT with a target price of HKD 38

"Big Banks" Citigroup: China Literature's performance last year was below expectations, affected by limited content release from New Classics Media

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WuXi BIO expects a 46% increase in net profit last year, exceeding RMB 4.9 billion, with a revenue growth of 16%. CHINA LIT issued a profit warning, expecting a full-year loss to widen to RMB 750 million to 850 million, mainly due to goodwill impairment. Leading Intelligent's new stock debut performed well, with a maximum gain of RMB 74. SMIC's profit grew by 60.66% last quarter, with sales revenue of USD 2.48 billion. ZEEKR released the world's first general-purpose warehouse robot Gino 1. Baoshan International's January revenue decreased by 32.5% year-on-year

Tasty Money

WUXI BIO

Guotai CSI Bio-medicine ETF

Huaan Hang Seng Biotech ETF

Tianhong CNI BIOMEDICINE ETF

China Southern Hang Seng Biotech ETF(QDII)

Bosera Hang Seng Health Care ETF(QDII)

Fullgoal Hang Seng SCHK Innovative Drug & Healthcare ETF

Minsheng Royal CSI Biotechnology Theme ETF

ChinaAMC SSE STAR Biology and Medicine ETF

[Daily Announcement] WUXI BIO (2269) expects a 46% increase in net profit last year, CHINA LIT (772) issues a profit warning, expecting an expanded annual loss

CHINA LIT issued a profit warning due to an impairment of goodwill of HKD 1.8 billion from New Classics Media, expecting a loss of HKD 750 million to HKD 850 million in 2025. New Classics Media's profit will decrease, with non-recurring profit dropping to HKD 800 million to HKD 900 million. In response to audience expectations for high-quality content, New Classics Media will adjust its production strategy, control the pace of creation, and enhance content quality. CHINA LIT hopes that New Classics Media will continue to leverage its core value and create long-term value. In 2018, CHINA LIT acquired New Classics Media for approximately HKD 15.5 billion

CHINA LIT (772) issues profit warning, New Classics Media faces another HKD 1.8 billion goodwill impairment

Today’s Key News Recap

0112 | Dolphin Research Focus: 🐬 Stock 1, $CHINA LIT(00772.HK) jumped 10%+ today. The move was driven by a deep AIGC tie-up with Shengshu Tech.Its 'Yuewen Comic-Drama Assistant' fully integrated the multimodal LLM 'Vidu'. AI now spans the end-to-end creation workflow to cut costs, boost efficiency, and strengthen visual IP monetization, aligning with the industrialization of AI content.This should accelerate the conversion of online-literature IP into comic-dramas and short-form series, opening new growth avenues. Sentiment was also helped by a rebound in China and AI names on the day...

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XPEV's Aeroht files for IPO confidentially; AI theme takes off｜Daily News Recap

1205 | Dolphin Research Key Focus: 🐬 Stock 1, $BIDU-SW(09888.HK) According to reports, Kunlun Chip (Baidu's AI chip subsidiary) has initiated preparations for listing in Hong Kong, planning to submit the application in the first quarter of 2026 and complete the IPO in early 2027, with the latest valuation of approximately 21 billion RMB. Baidu is the largest shareholder. It has released products such as Kunlun Chip M100 and M300, with tens of thousands of cards deployed, serving as the core foundation of Baidu's AI computing power, and also providing computing power services to external enterprises. The news pushed Baidu's stock price to rise over 8% at one point...

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Baidu HK SDR 10to1

Alibaba HK SDR 5to1

Baidu Spins Off Kunlunxin for IPO; Ele.me Completes Official Rebranding | Today's Important News Recap

Conference Minutes

The following are the minutes of the FY25Q3 earnings call for $TENCENT(00700.HK) compiled by Dolphin Research. For an interpretation of the earnings report, please refer to the article &#34;Tencent: Not Playing Heartbeat with Meta, Just Wanting Steady Happiness.&#34; 1. Review of Core Financial Information 1. Capital Expenditure: Operating capital expenditure: RMB 12 billion, down 18% year-on-year, mainly due to changes in the supply chain. Non-operating capital expenditure: RMB 1 billion, down 59% year-on-year. 2. Free Cash Flow: RMB 58.5 billion, roughly flat compared to the same period last year (growth in operating cash flow was offset by other factors)...

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Tencent (Minutes): Emphasizes AI, but Lowers Full-Year Capex Guidance

0818 | Dolphin Research Focus: 🐬 Macro/Industry 🐬 Individual Stocks 1. $CHINA LIT(00772.HK) Over the weekend, the animation update of 'A Record of a Mortal's Journey to Immortality' went viral, with the protagonist Han Li successfully forming a Nascent Soul. At 11 o'clock, fans flocked to Bilibili, and the IP rights belong to Yuewen Group (Qidian Chinese Network), directly boosting its stock price significantly during trading. In addition, Yuewen recently reached a 'National Creative Content Strategic Cooperation Plan' with Tencent's 'Honor of Kings', and the collaborative merchandise produced by Yuewen is already on pre-sale in both official stores. Coupled with the impressive financial report released by Yuewen last week...

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NIO Inc. USD OV

"Han Laomo"'s success in forming a nascent soul boosts Yuewen; Nio's all-new ES8 to be released this week | Today's Important News Recap

Hong Kong stocks opened high and moved higher, with technology stocks and pharmaceutical stocks rising together. The technology index rose 2.35%, Tencent Music surged more than 15% after earnings, and Alibaba rose more than 4%.

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Hong Kong stock hot trading (8.13)｜ Hong Kong technology stocks fully exploded, Tencent hit a four-year high, Alibaba surged over 4%

MS-CLIT@EC2610A(23628.HK)

Top 10 HK Stock Losers (2.20)

Will China Literature Turn The Page?

In "The Big Bank," Citigroup: China Literature's core IP and online business profits hit a record high, raising the target price to 42.3 yuan

UBS raises the target price of CHINA LIT to 52 yuan, expects short dramas and animated short dramas to contribute 100 million yuan in profit this year

The Hang Seng Index opened down 0.25%, and the Hang Seng TECH Index fell 0.19%