Cloud Music (09899) rose 4.5 percent in early tradingfruitshopmegaways.30%, currently quoted at HK$106.80, with a turnover of HK$28.9081 million.
Cloud Music's net income in the first quarter was 2 billion yuan, a year-on-year increase of 3.6%; gross profit margin was 38%, a year-on-year increase of 69.6%, and a month-on-month increase of 25.4%. The month-on-month and year-on-year growth in cloud music's gross profit was mainly due to certain copyright feesfruitshopmegawaysA one-time adjustment to the Group's, as well as an increase in member subscription revenue and continuous improvement in cost control.