Cloud Music Inc. (HK:9899) has released an update.
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NetEase Cloud Music, a subsidiary of NetEase, Inc., reported a slight increase in net revenues for Q3 2024, reaching RMB2.0 billion. The company achieved a gross profit margin of 32.8%, driven by higher sales of membership subscriptions and improved cost control measures. This performance highlights the company’s steady growth within its music-centric ecosystem.
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