Kuke Music Holding Limited (KUKE) Social Stream

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$KUKE Total revenue increased by 732.0% to RMB84.1 million (US$13.0 million) from RMB10.1 million in the same period of 2020.

Gross profit in the second quarter of 2021 increased by 14.4 times to RMB49.7 million (US$7.7 million) from RMB3.2 million in the same period of 2020. Gross margin improved to 59.1% from 31.9% in the same period of 2020, mostly due to greater economies of scale as the Company grew its copyright licensing and smart music learning solutions revenue at a much faster pace than its associated costs.

Total operating expenses in the second quarter of 2021 increased by 329.4% to RMB59.5 million (US$9.2 million) from RMB13.9 million in the same period of 2020.

Operating loss in the second quarter of 2021 was RMB8.4 million (US$1.3 million), compared to RMB9.6 million in the same period of 2020.

As of June 30, 2021, the Company had cash and cash equivalents of RMB153.3 million (US$23.7 million).