Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to HK$120, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 11x in the Entertainment industry in Hong Kong. Total returns to shareholders of 56% over the past three years. New Risk • Jun 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company. Board Change • May 20
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non-executive Director Caleb Lo was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Duyuru • Apr 16
NetEase Cloud Music Inc., Annual General Meeting, Jun 23, 2026 NetEase Cloud Music Inc., Annual General Meeting, Jun 23, 2026, at 14:00 China Standard Time. Location: no. 399 wangshang road, binjiang district, zhejiang province, hangzhou China Duyuru • Jan 28
NetEase Cloud Music Inc. to Report Fiscal Year 2025 Results on Feb 11, 2026 NetEase Cloud Music Inc. announced that they will report fiscal year 2025 results After-Market on Feb 11, 2026 Duyuru • Jul 31
NetEase Cloud Music Inc. to Report First Half, 2025 Results on Aug 14, 2025 NetEase Cloud Music Inc. announced that they will report first half, 2025 results on Aug 14, 2025 Duyuru • Apr 15
NetEase Cloud Music Inc., Annual General Meeting, Jun 25, 2025 NetEase Cloud Music Inc., Annual General Meeting, Jun 25, 2025, at 14:00 China Standard Time. Location: company`s office, no. 399 wangshang road, binjiang district, zhejiang province, 310052, hangzhou China Duyuru • Feb 06
NetEase Cloud Music Inc. to Report Fiscal Year 2024 Results on Feb 20, 2025 NetEase Cloud Music Inc. announced that they will report fiscal year 2024 results After-Market on Feb 20, 2025 Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment improves as stock rises 31% After last week's 31% share price gain to HK$122, the stock trades at a forward P/E ratio of 18x. Average forward P/E is 10x in the Entertainment industry in Hong Kong. Total returns to shareholders of 43% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$117 per share. Reported Earnings • Sep 22
First half 2024 earnings released: EPS: CN¥3.88 (vs CN¥1.39 in 1H 2023) First half 2024 results: EPS: CN¥3.88 (up from CN¥1.39 in 1H 2023). Revenue: CN¥4.07b (up 4.1% from 1H 2023). Net income: CN¥809.8m (up 176% from 1H 2023). Profit margin: 20% (up from 7.5% in 1H 2023). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Entertainment industry in Hong Kong. Buy Or Sell Opportunity • Sep 13
Now 21% undervalued The stock has been flat over the last 90 days, currently trading at HK$91.95. The fair value is estimated to be HK$117, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 7.1% per annum. Earnings are also forecast to grow by 8.3% per annum over the same time period. Duyuru • Aug 05
Cloud Music Inc. to Report First Half, 2024 Results on Aug 22, 2024 Cloud Music Inc. announced that they will report first half, 2024 results on Aug 22, 2024 Duyuru • May 24
Cloud Music Inc. Announces Resignation of Ran Wang as Non-Executive Director The board of directors of Cloud Music Inc. announced that due to a change of work arrangement, Mr. Ran Wang ("Mr. Wang") has tendered to the Board his resignation as a non-executive director of the Company with effect from 23 May 2024. Duyuru • Apr 28
Cloud Music Inc., Annual General Meeting, Jun 26, 2024 Cloud Music Inc., Annual General Meeting, Jun 26, 2024, at 14:00 China Standard Time. Location: Company's office located at No. 399 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, People's Republic of China 310052 Zhejiang Province China Agenda: To receive the audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended 31 December 2023; to re-appoint PricewaterhouseCoopers as auditor of the Company and to authorize the Board to fix its remuneration; to re-elect Mr. William Lei Ding as an executive director of the Company; to re-elect Mr. Yong Li as an executive Director; to re-elect Mr. Ying Kit Caleb Lo as an independent non-executive Director; to authorize the board of Directors to fix the respective Directors' remuneration; and to consider other matters. Duyuru • Feb 07
Cloud Music Inc. to Report Fiscal Year 2023 Results on Feb 29, 2024 Cloud Music Inc. announced that they will report fiscal year 2023 results at 4:00 PM, China Standard Time on Feb 29, 2024 Duyuru • Feb 02
Cloud Music Inc. Announces Resignation of Dewei Zheng as Non-Executive Director, Effective 15 February 2024 Cloud Music Inc. announced that due to his personal career development, Mr. Dewei Zheng ("Mr. Zheng") has tendered to the Board his resignation as a non-executive director of the Company. Mr. Zheng's resignation will take effect from 15 February 2024. Valuation Update With 7 Day Price Move • Nov 07
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to HK$103, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 9x in the Entertainment industry in Hong Kong. Total returns to shareholders of 83% over the past year. Simply Wall St's valuation model estimates the intrinsic value at HK$101 per share. Buying Opportunity • Oct 06
Now 20% undervalued Over the last 90 days, the stock is up 8.9%. The fair value is estimated to be HK$107, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.1% over the last year. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 8.7% per annum. Earnings is also forecast to grow by 31% per annum over the same time period. Reported Earnings • Aug 25
First half 2023 earnings released: EPS: CN¥1.39 (vs CN¥1.30 loss in 1H 2022) First half 2023 results: EPS: CN¥1.39 (up from CN¥1.30 loss in 1H 2022). Revenue: CN¥3.91b (down 8.2% from 1H 2022). Net income: CN¥293.8m (up CN¥564.6m from 1H 2022). Profit margin: 7.5% (up from net loss in 1H 2022). The move to profitability was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Entertainment industry in Hong Kong. Duyuru • Aug 04
Cloud Music Inc. to Report First Half, 2023 Results on Aug 24, 2023 Cloud Music Inc. announced that they will report first half, 2023 results on Aug 24, 2023 Buying Opportunity • Jul 06
Now 21% undervalued Over the last 90 days, the stock is up 18%. The fair value is estimated to be HK$100, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 64%. Duyuru • Jun 16
Cloud Music Inc. Approves Appointment of Ran Wang as A Non-Executive Director Cloud Music Inc. announced that at its AGM held on 15 June 2023, the shareholders approved appointment of Mr. Ran Wang as a non-executive director with effect from 15 June 2023. Mr. Ran Wang, aged 37, has been a non-executive director of Huitongda Network Co. Ltd. since November 2022, and has been an executive director of the strategic investment department of Alibaba Group Holding Limited since July 2018; since October 2021, he has been a director of Shanghai Baison Co. Ltd. From May 2013 to July 2018, Mr. Wang served as the investment manager of Private Equity Asia Department of Morgan Stanley (China) Private Equity Investment Management Co. Ltd. from February 2012 to 2013, he served as an analyst of the Bank of China Group Investment Limited. Mr. Wang graduated from the University of Oxford with a master's degree in financial economics. Duyuru • May 25
Cloud Music Inc., Annual General Meeting, Jun 15, 2023 Cloud Music Inc., Annual General Meeting, Jun 15, 2023, at 14:00 China Standard Time. Location: No. 399 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province China Agenda: To receive the audited consolidated financial statements of the Company and the reports of the directors and auditors for the year ended December 31, 2022; to re-appoint PricewaterhouseCoopers as auditor of the Company and to authorize the board of Directors to fix its remuneration; to re-elect Mr. Yat Keung Li as a non-executive director of the Company; and to consider other matters. Duyuru • May 24
Cloud Music Inc. Announces the Resignation of Feng Yu as Non-Executive Director Cloud Music Inc. announced that due to change in work arrangement, Mr. Feng Yu ("Mr. Yu") has resigned from his position as a non-executive director of the Company. His resignation will take effect on the date of appointment of the proposed non-executive director at the annual general meeting to be convened on 15 June 2023 (the "2023 AGM"). Reported Earnings • Apr 30
Full year 2022 earnings released: CN¥1.06 loss per share (vs CN¥15.92 loss in FY 2021) Full year 2022 results: CN¥1.06 loss per share (improved from CN¥15.92 loss in FY 2021). Revenue: CN¥8.99b (up 28% from FY 2021). Net loss: CN¥221.5m (loss narrowed 89% from FY 2021). Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Entertainment industry in Hong Kong. Buying Opportunity • Mar 14
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 7.8%. The fair value is estimated to be HK$99.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 33% over the last 3 years. Earnings per share has grown by 64%. Breakeven Date Change • Mar 03
Forecast breakeven date moved forward to 2023 The 11 analysts covering Cloud Music previously expected the company to break even in 2024. New consensus forecast suggests the company will make a profit of CN¥62.0m in 2023. Earnings growth of 55% is required to achieve expected profit on schedule. Reported Earnings • Feb 26
Full year 2022 earnings released: CN¥1.06 loss per share (vs CN¥15.92 loss in FY 2021) Full year 2022 results: CN¥1.06 loss per share (improved from CN¥15.92 loss in FY 2021). Revenue: CN¥8.99b (up 28% from FY 2021). Net loss: CN¥221.5m (loss narrowed 89% from FY 2021). Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Entertainment industry in Hong Kong. Duyuru • Feb 03
Cloud Music Inc. to Report Q4, 2022 Results on Feb 23, 2023 Cloud Music Inc. announced that they will report Q4, 2022 results on Feb 23, 2023 Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 31% share price gain to HK$99.75, the stock trades at a trailing P/E ratio of 12.5x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$167 per share. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment improved over the past week After last week's 23% share price gain to HK$68.75, the stock trades at a trailing P/E ratio of 9x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$137 per share. Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment deteriorated over the past week After last week's 16% share price decline to HK$57.65, the stock trades at a trailing P/E ratio of 7.6x. Average forward P/E is 7x in the Entertainment industry in Hong Kong. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improved over the past week After last week's 17% share price gain to HK$82.45, the stock trades at a trailing P/E ratio of 10.3x. Average forward P/E is 8x in the Entertainment industry in Hong Kong. Simply Wall St's valuation model estimates the intrinsic value at HK$164 per share. Reported Earnings • Aug 19
First half 2022 earnings released First half 2022 results: Revenue: CN¥4.26b (up 34% from 1H 2021). Net loss: CN¥270.8m (loss narrowed 93% from 1H 2021). Over the next year, revenue is forecast to grow 30%, compared to a 25% growth forecast for the Entertainment industry in Hong Kong. Reported Earnings • May 02
Full year 2021 earnings released: CN¥15.92 loss per share (vs CN¥24.22 loss in FY 2020) Full year 2021 results: CN¥15.92 loss per share (up from CN¥24.22 loss in FY 2020). Revenue: CN¥7.00b (up 43% from FY 2020). Net loss: CN¥2.06b (loss narrowed 30% from FY 2020). Over the next year, revenue is forecast to grow 37%, compared to a 30% growth forecast for the industry in Hong Kong. Breakeven Date Change • Apr 27
Forecast to breakeven in 2024 The 4 analysts covering Cloud Village expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 46% per year to 2023. The company is expected to make a profit of CN¥228.7m in 2024. Average annual earnings growth of 73% is required to achieve expected profit on schedule. Breakeven Date Change • Apr 08
Forecast to breakeven in 2024 The 5 analysts covering Cloud Village expect the company to break even for the first time. New consensus forecast suggests losses will reduce by 55% per year to 2023. The company is expected to make a profit of CN¥228.7m in 2024. Average annual earnings growth of 83% is required to achieve expected profit on schedule. 
