DAMAI ENT
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Tax rumors "raid" Hong Kong stocks! Institutional interpretation: excessive speculation, very low credibility
Wallstreetcn·- The Hong Kong stock market faced a sudden drop this week due to tax rumors involving potential increases in VAT rates for internet and financial services. - Analysts from several securities firms dismissed these rumors as unfounded, emphasizing that such changes contradict the current policy aimed at promoting consumption and lack legal basis. - Despite short-term market turbulence, the long-term valuation metrics of the Hang Seng Index remain attractive, suggesting investment opportunities in the technology sector amidst structural adjustments.Why is there such a big difference in the performance of DAMAI and MAOYAN ENT, with DAMAI rising 91% and MAOYAN ENT falling 10%?
Wallstreetcn·- The stock performance of two Chinese entertainment companies, Damai Entertainment and Maoyan Entertainment, has diverged significantly this year, with Damai's stock rising 91% and Maoyan's falling 10%. - Damai has successfully diversified its business by shifting focus to IP derivatives and offline entertainment, while Maoyan remains heavily reliant on the domestic film market, leading to a projected 14% revenue decline in 2024. - Morgan Stanley maintains an "overweight" rating for Damai with a target price of 1.2 HKD, while downgrading Maoyan to "neutral" with a target price of 6.8 HKD due to its growth challenges.