On June 1, Damai Entertainment rose 5.17% in regular trading, reaching HK$0.61 with turnover of approximately HK$21.56 million. The rebound follows multiple investment bank reports issued after the company released its annual results on May 27.
The company reported revenue of approximately RMB 8.024 billion for the fiscal year ended March 31, representing a 20% year-over-year increase. Net profit attributable to shareholders reached approximately RMB 705 million, surging 94% year-over-year. Notably, IP derivative business revenue grew 60% to RMB 2.17 billion, while drama production revenue more than doubled to RMB 1.401 billion.
Following the results, CICC maintained its outperform rating with a target price of HK$0.9, implying approximately 50% upside from the current price. Jefferies maintained its buy rating, adjusting its target to HK$1.10. The stock had previously dropped 6.25% on May 28 due to profit-taking as the results largely matched prior guidance. The current rebound appears to reflect institutional ratings restoring market confidence after the post-earnings selloff.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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