Cloud Music Inc. (9899.HK) stock price, financials & research

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Company profile

Cloud Music Inc. (9899.HK), operating through its parent entity Cloud Village Inc., functions as an investment holding company primarily focused on delivering digital music and social entertainment experiences across the People's Republic of China. Its diverse revenue streams encompass premium music membership subscriptions, the sublicensing of content royalties, and providing online advertising solutions. The company also generates income from the direct sale of digital albums, singles, and various virtual in-app items. At the core of its offerings is NetEase Cloud Music, its flagship online platform, which is complemented by a suite of social entertainment products like LOOK Live Streaming, Sheng Bo, and Yin Jie. Beyond its consumer-facing platforms, Cloud Village extends its services to include artist management, comprehensive online music streaming capabilities, and music production. These extensive offerings cater to a broad user base, encompassing both paying subscribers and advertising partners. Established in 2013, the company maintains its headquarters in Hangzhou, China, and operates as a subsidiary of NetEase, Inc.

Industry: Internet Content & Information
Sector: Communication Services
Headquarters: CN
CEO: Lei Ding
Listed since: Dec 2, 2021
Employees: 1,288

Market position

Volume: 2.39M; 2.4× average
Average volume: 998.12K; Average daily volume
Market cap: 18.49B HKD
Beta: 1.13; Market reference 1

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value: 32.56B CNY
P/E (TTM): 5.95×
P/B (TTM): 1.29×
P/S (TTM): 2.04×
EV / EBITDA: 20.07×
Earnings yield: 7.70%
Free cash flow yield: 4.50%
Dividend yield: 0.00%

Profitability & efficiency

Gross margin: 35.69%
Operating margin: 20.90%
Net margin: 35.42%
Return on equity: 21.35%
Return on assets: 16.69%
Return on invested capital: 8.40%

Financial health

Debt / equity: 0×
Current ratio: 4.04×
Altman Z-score: 4.4
Piotroski F-score: 5 of 9

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin

Income trends

Revenue

7.76B CNY-2.40%

Operating income

1.62B CNY+38.53%

Net income

2.75B CNY+76.00%

Metric (CNY)	FY2025	FY2024	FY2023	FY2022	FY2021
Revenue	7.76B CNY	7.95B CNY	7.87B CNY	8.99B CNY	7B CNY
Cost of goods sold	4.99B CNY	5.27B CNY	5.76B CNY	8.71B CNY	8.41B CNY
Gross profit	2.77B CNY	2.68B CNY	2.1B CNY	1.29B CNY	142.67M CNY
Research and development	761.6M CNY	779.66M CNY	868.7M CNY	1.01B CNY	869.15M CNY
Selling, general, and administrative	585.34M CNY	796.18M CNY	923.34M CNY	806.28M CNY	695.53M CNY
Operating expenses	1.15B CNY	1.51B CNY	1.77B CNY	1.68B CNY	1.49B CNY
Interest income	445.88M CNY	406.19M CNY	437.88M CNY	183.11M CNY	48.42M CNY
Interest expense	194K CNY	239K CNY	317K CNY	349K CNY	—
Depreciation and amortization	10.89M CNY	17.22M CNY	19.37M CNY	22.56M CNY	15.04M CNY
Operating income	1.62B CNY	1.17B CNY	330.18M CNY	−384.51M CNY	−1.35B CNY
Net income	2.75B CNY	1.56B CNY	734.18M CNY	−221.49M CNY	−2.06B CNY