研报掘金｜中金：上调腾讯音乐H股目标价至114.5港元维持“跑赢行业”评级

格隆汇2025-08-14

中金发表报告指，腾讯音乐第二季收入84.4亿元，按年增17.9%，超该行和市场预期。Non-IFRS净利润25.7亿元，按年增37.4%，超该行和市场预期，主要因非订阅收入(广告、演唱会和艺人周边等)超预期。因音乐非订阅业务好于预期，中金上调腾讯音乐2025/2026年Non-IFRS净利润预测6.8%、13.0%至94.6、112.1亿元，维持“跑赢行业”评级，鉴于行业估值中枢上移，上调H股...

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研报掘金｜中金：上调腾讯音乐H股目标价至114.5港元 维持“跑赢行业”评级

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研报掘金｜中金：上调腾讯音乐H股目标价至114.5港元维持“跑赢行业”评级