Citigroup: Maintains "Buy" rating on Yuewen Group (00772.HK), raises target price to HK$37.4

According to the Zhixing Financial APP, Citigroup released a research report stating that it is expected that China Literature Group (00772.HK) will announce its semi-annual performance for the first half of 2025 in mid-August. The bank largely maintains its profit expectations for the full year of fiscal year 2025, as it expects more content to be released in the second half of the year, and the growing IP derivative products and short drama business will contribute to profits. Adjusting profit forecasts and considering industry valuation reassessment, the bank has raised its target price based on the Sum-of-the-Parts valuation method (SOTP) to HK$ 37.4 (previously HK$ 31.5). It maintains a "buy" rating.