HK Stock Market Move | VOBILE GROUP (03738) surged by over 9%, with total revenue in the third quarter increasing by approximately 29%. Subscription service capabilities have been expanded to include more categories of copyrighted content.

VOBILE GROUP (03738) surged by over 9% in early trading, reaching a gain of 8.63% at the time of writing, at HK$3.65, with a trading volume of HK$38.58 million. On the news front, VOBILE GROUP announced that for the three months ended September 30, 2024, the group's total revenue increased by about 29% year-on-year; revenue from its mainland China business increased by about 27% in RMB terms; and monthly recurring revenue (MRR) increased by about 32% year-on-year. Shanxi previously pointed out that with the intensification of policies related to data elements, the marketization process of data elements is expected to accelerate. Guosheng Securities stated that in the first half of the year, VOBILE GROUP expanded its subscription service capabilities to more categories of rights, with a continuous increase in customer numbers, a steady increase in the penetration rate of content libraries, and coverage of services of all categories of licensed content; value-added business grew rapidly, with an expansion of monetization capabilities in social media; service content going overseas, strengthening the brand influence in the Chinese market; customer numbers in the US market continued to expand, deepening cooperation with music label customers.