Movement Alert｜Damai Entertainment Falls 6.25% in Regular Trading, BofA Cuts Earnings Forecasts as Post-Results Profit-Taking Persists

Market Focus06-03

On June 3, Damai Entertainment fell 6.25% in regular trading, trading at HK$0.61, with trading volume of approximately HK$85 million.

On the news front, Bank of America Securities recently issued a research report cutting FY27 to FY28 earnings forecasts by 16% to 19%, citing increased investment in new business areas pressuring short-term profit margins. The target price was lowered from HK$0.86 to HK$0.82. The company released its annual results on May 27 showing net profit attributable to shareholders of approximately RMB 7.05 billion, up 94% year-over-year, which largely met prior guidance without delivering an upside surprise. The stock briefly rebounded on June 1-2 supported by multiple brokerages maintaining buy ratings, but has resumed its decline, indicating that post-results profit-taking pressure has not been fully absorbed. Separately, CICC maintains an outperform rating with a HK$0.90 target price, and Jefferies maintains a buy rating with a HK$1.10 target.

(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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