The Zhitong Finance app learned that KEEP (03650) rose more than 6% in early trading. As of press release, it was up 5.84% to HK$19.56, with a turnover of HK$3.482,500.

According to the news, on December 1, according to an announcement from the Shanghai Stock Exchange, due to the implementation of constituent stock adjustments in the Hang Seng Composite Mid-Cap Index, according to the relevant provisions of the “Shanghai Stock Exchange Shanghai-Hong Kong Stock Connect Business Implementation Measures”, the Hong Kong Stock Exchange's securities list was adjusted, and KEEP was transferred to Hong Kong Stock Connect under the Shanghai-Hong Kong Stock Connect, which took effect from December 4.

According to Debon Securities Research Report, content is the earliest and core model form of KEEP, using apps as the main carrier, and content acquisition - advertising fee/membership fee traffic monetization as the main business model. Considering that Keep is significantly active in fitness apps, and its differentiated high-quality fitness content, smart fitness equipment and supporting products further strengthen user stickiness and form a closed loop in the fitness ecosystem, the bank gave the company 7 times PS in 2024, corresponding to the target market value of HK$17.404 billion, corresponding to the target price of HK$33.09 per share, covering the “buy” rating for the first time. The company is expected to achieve break-even by reducing costs and increasing efficiency in 2025.