NetEase Cloud Music is trading 4.34% up at HK$93.85 following a sharp post-earnings decline.
- August 20 interim results: revenue rose 3.4% to RMB4.0 billion; net profit fell 57% to RMB809.2 million and operating profit declined 11.6%.
- Jefferies maintained a Buy rating but cut its price target to HK$115 from HK$144, adding to valuation-focused trading.
- The rebound follows a 5.42% decline on August 24.