Kuke Music Q3 Loss Widens, Revenue Surges; Sees FY21 Revenues Of RMB300 Mln - RMB350 Mln

Kuke Music Holding Ltd. (KUKE), a Chinese music group, Monday reported that its third-quarter loss attributable to equity holders of the parent was 24.26 million Chinese yuan or $3.76 million, wider than last year's loss of 12.16 million yuan.

Loss per American Depositary Share or ADS was 0.83 yuan or $0.13, compared to loss of 0.49 yuan in the same period of 2020.

Adjusted profit was 20.52 million yuan or $3.2 million, compared to loss of 8.9 million yuan a year ago. Adjusted profit per ADS was 0.70 yuan or $0.11, compared to loss of 0.36 yuan last year.

Total revenue soared 343.6 percent to 82.7 million yuan or $12.8 million from 18.6 million yuan in the prior year, driven by growth across all business segments.

Looking ahead for fiscal 2021, revenue is expected to be between 300 million yuan and 350 million yuan.

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