--- title: "Hong Kong stock movement: ZO FUTURE GROUP rises 16.61%, active funds boost volatility, future direction remains to be seen" type: "News" locale: "en" url: "https://longbridge.com/en/news/290131917.md" description: "ZO FUTURE GROUP rose 16.61%; Damai Entertainment fell 1.89%, with a transaction volume of HKD 42.78 million; NetEase Cloud Music fell 1.78%, with a transaction volume of HKD 28.41 million; Tencent Music - SW fell 3.21%, with a transaction volume of HKD 23.85 million; China RuYi fell 0.68%, with a market value of HKD 24.5 billion" datetime: "2026-06-18T02:47:24.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290131917.md) - [en](https://longbridge.com/en/news/290131917.md) - [zh-HK](https://longbridge.com/zh-HK/news/290131917.md) --- # Hong Kong stock movement: ZO FUTURE GROUP rises 16.61%, active funds boost volatility, future direction remains to be seen **Hong Kong Stock Movement** ZO FUTURE GROUP, up 16.61%, with no significant news recently. Trading is active, and capital flow is evident. Considering the sector and industry trends, the stock shows significant volatility, and the specific reasons need further observation. **Stocks with High Trading Volume in the Industry** Damai Entertainment down 1.89%. Based on recent key news: 1. On June 16, Jiyikawa opened several offline flagship stores in mainland China, promoting retail business development. This move may enhance the company's brand influence and market share, but the short-term impact on stock price is limited. 2. On June 16, revenue from film content and technology business decreased by 20%, mainly affected by overseas business investments. The profit margin of this business is under pressure, leading to a slowdown in overall performance growth, putting pressure on the stock price. 3. On June 16, IP derivative business grew by 11%, but the shutdown of some non-core sub-business lines resulted in one-time losses, affecting the overall performance growth of the segment and increasing stock price volatility risk. The entertainment industry faces risks from global economic fluctuations. NetEase Cloud Music down 1.78%. Based on recent key news: 1. On June 17, CICC reported that the online platform sector has performed poorly this year, with market attention on AI shifting to hardware and models, leading to a decline in sector valuation. Nevertheless, NetEase's performance exceeded expectations, with gaming resilience and gross margin optimization being highlights. 2. On June 15, Morningstar analyst Ivan Su believes that NetEase Cloud Music's stock price is undervalued. Despite a decline in market share, its valuation is still one-third of Morningstar's estimate, and the market's pessimistic expectations regarding its subscription users and pricing power are overly exaggerated. 3. On June 17, Tencent Cloud and Kouzi released full-stack Agent native tools to accelerate enterprise-level Agent deployment. Although ToC Agent applications are not yet mature, the advancement of enterprise-level applications may have a positive impact on the industry. The valuation of the online platform sector has declined, with AI attention shifting to hardware. Tencent Music-SW down 3.21%. Based on recent key news: 1. On June 16, Tencent Music's Vice President of Content Cooperation, Zeng Zhizhong, pointed out that AI technology has a dual nature in the music industry. Compliant "AI-assisted creation" can enhance efficiency, but unauthorized "illegal AI covers" pose severe challenges. This may be a key issue for the industry to address in the coming months, affecting market confidence in Tencent Music. 2. On June 16, the Chinese internet sector demonstrated resilience amid global economic uncertainty, but Tencent Music's stock price performed poorly, reflecting market volatility influenced by overall industry trends. 3. On June 18, Tencent Music Entertainment Technology (Shenzhen) Co., Ltd. updated its company registration information, with Hu Min stepping down as legal representative, chairman, and general manager, and Zhang Hao taking over as legal representative and chairman while also serving as manager. This change may raise market concerns about the stability of the company's management. The overall industry performance is poor, and macroeconomic uncertainty is increasing **Stocks Ranked Among the Top in Market Capitalization in the Industry** China Ruiyi fell by 0.68%. Based on recent key news: 1. On June 17, China Ruiyi announced the completion of several new films, including "The Annual Meeting Cannot Stop!" and "Welcome to Dragon Restaurant," and plans to launch multiple heavyweight projects. The advancement of these projects demonstrates the company's proactive stance in content creation and market layout, which may have a positive impact on its stock price. 2. On June 17, China Ruiyi completed a strategic investment in the leading global AI video company Aishi Technology, whose core product PixVerse has surpassed 100 million global users. This investment is expected to enhance the company's competitiveness in the AI field through mutual empowerment of technology and industry. 3. On June 17, Ruiyi Films launched a global content open cooperation model aimed at addressing the high barriers to industry promotion and providing more opportunities for emerging creators. This initiative may strengthen the company's influence in the content distribution field. 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