The Zhitong Finance App learned that Daimo released a research report saying that to maintain the “in sync with the market” rating of Alibaba Pictures (01060), the target price was raised from HK$0.44 to HK$0.45. The bank raised the company's revenue forecast for the 2023-25 fiscal year by 6% to 9% to reflect better content revenue and better technology revenue driven by online ticketing platform Barley, but this was partly offset by weaker IP business.

The bank pointed out that the company's revenue in the first half of fiscal year 2023 increased 85% year on year, and the performance was strong; operating profit increased 118% year on year. The company's market share increased in film production/distribution and drama production, mainly driven by Youku. Although the industry faces downside risks, the bank is confident that its content business will grow.