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00772 CHINA LIT
RTNominal up28.350 +1.500 (+5.587%)
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15/07/2020 16:39

{I-bank focus}BOCOM lifts China Literature (00772) to HK$54

[ET Net News Agency, 15 July 2020] BOCOM Research lifted its target price for China
Literature (00772) to HK$54 from HK$46.8 and maintained its "neutral" rating, given
uncertainty on short-term growth.
The research house noted that MAU (monthly active users) of free reading products
increased after COVID-19, while paid users declined; traffic of QQ browser surged during
the epidemic.
BOCOM expects 1H total revenue to be RMB3.6bn, up 22%, with +41/-3% growth for online
business/IP operation revenue. (KL)

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