STAR CM Holdings Limited (HK:6698) has released an update.
TipRanks Black Friday Sale
- Claim 60% off TipRanks Premium for the data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
STAR CM Holdings Limited, a Cayman Islands-incorporated company, has encountered challenges with its subsidiary Canxing Culture after negative publicity and a sudden suspension of its program ‘Sing! China’ by Zhejiang Satellite TV Station. This has led to a series of legal actions to protect the rights of Canxing Culture and has impacted licensing and advertising plans, with knock-on effects for the company’s music IP operations and future broadcasting possibilities. The company’s management has revised its future earnings forecast for its cash-generating unit MXQY, adopting a conservative approach in light of the unforeseen duration of the program’s suspension.
For further insights into HK:6698 stock, check out TipRanks’ Stock Analysis page.