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RTNominal down36.900 -1.050 (-2.767%)

05/12/2019 12:30

{I-bank focus}Jefferies starts China Lit (00772) at HK$37.3

[ET Net News Agency, 5 December 2019] Jefferies Research initiated coverage on China
Literature (00772) with a "buy" rating and a target price of HK$37.3.
The research house said China Literature is the content powerhouse in online literature
in China with clear market leadership, thanks to its ecosystem which creates a virtuous
cycle among readers, writers and content partners.
Different from physical books, China Literature captures real-time feedback from readers
and facilitates writers to author the best original content. The acquisition of NCM last
year has enabled it to unlock IP potential with in-house produced content for the long
Its shares have fallen by over 60% from its peak level, but Jefferies believes the worst
is over in terms of softness in online reading in 2019, which was a result of business
model transition and content rectification, and is now in the price. (KL)

Remark: Real time quote last updated: 17/01/2020 17:59
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