Kuke Music Holding Limited (KUKE) experienced an incline of 5.91% in the aftermarket. However, the last trading session closed at $4.4 with an increase of 1.62%.
Initial Screening – What’s it all about?
On 5th November 2021, KUKE stated that the 16th International Beethoven Piano Competition would be screened in certain places across China at first. The screenings will take place on Beethoven’s 251st birthday. Kuke and its sibling firm Naxos will sponsor the competition, and will also fund and promote the screenings.
Now what?
KUKE feels honored to sponsor the Beethoven Piano Competition Vienna. Not only this but it will first screen the material in Chinese theatres, motivating future generations of Chinese pianists. Moreover, the company is dedicated to producing and providing novel viewing experiences and richer content for its clients by utilizing Kuke and its sister business Naxos’ strong position in classical music.
Third Quarter 2021 results – When will KUKE reveal them?
KUKE announced on 13th October 2021 that the company will release third-quarter 2021 results before the U.S. market opens on Monday, November 29, 2021. Moreover, on Monday, November 29, 2021, at 7:30 a.m. U.S. Eastern Time, Kuke’s management will have a conference call to disclose third-quarter results.
Second Quarter 2021 results – What happened?
KUKE revealed second quarter 2021 results on 4th August 2021. According to the company’s reporting, the total revenue climbed by 732.0 percent to RMB84.1 million almost equivalent to US$13.0 million. Moreover, revenue from smart music learning solutions climbed by 34.2 times US$3.2 million in 2020 from RMB0.6 million. Also, licensing and subscription income climbed by 328.3% in the first half of 2020, compared to RMB9.2 million at the same time the previous year.
Along with some financial stats, the company also announced that over 4,500 kindergartens had formed partnerships with the company. In addition, the overall number of pieces of material in the Company’s classical music collection rose by more than 80,000 to over 2.7 million as of June 30, 2021. Last but not the least, KUKE began providing business performance planning and implementation services.
How was KUKE’s quarter?
A solid business recovery, exceptional sales growth, and better profit margins defined a strong second quarter. KUKE extended its classical music content library, streamlined smart music hardware, content, and systems, and provided planning and execution services. The company is sure that these initiatives will continue to improve the already considerable synergies that exist across all elements of the operations, as well as fuel their forward growth momentum.
