Changes in Hong Kong stocks | Tencent Music - SW (01698) rose more than 5%, second quarter results, steady growth, institutions are optimistic about the company's differentiation barriers

The Zhitong Finance App learned that Tencent Music - SW (01698) rose by more than 5%. As of press release, it had risen 5.1% to HK$32.14, with a turnover of HK$35.444 million.

According to news, Tencent Music's overall performance achieved steady growth in the second quarter of this year. According to the data, Tencent Music's total revenue for the quarter increased 5.8% year on year to 8.93 billion yuan, and adjusted net profit increased 5.3% year on year to 2.78 billion yuan. Among them, revenue from music-related services achieved diversified growth, with a year-on-year increase of 11% to 7.61 billion yuan; revenue from music-related membership services was 4.79 billion yuan, an increase of 8.1% over the previous year.

Also, according to a report by Dexia, Tencent Music is testing the AI music creation tool “MusicBuddy”. This is an intelligent creation platform for musicians. It can create inspiration, refine distribution, and promote management. The whole process of music creation can be completed through AI dialogue. Guoyuan International previously stated that the company uses Tencent's ecological collaboration, full-scene penetration, and high-value fan economy to build barriers of differentiation.