STAR CM Holdings Limited (HK:6698) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.