Kuke Music Hldg Ltd Stock Price, News & Analysis

Kuke Music Holding Limited (NYSE: KUKE) announced its strategic progress towards becoming China's leading smart music learning product service provider. The Company has secured contracts with over 200 public schools in China, indicating strong business momentum. Kuke aims to tap into the opportunity presented by approximately 500,000 primary and secondary schools across the country, focusing on quality music education amidst increasing governmental support and funding. The Company's Smart Music Interactive Classroom is gaining traction due to its effectiveness, while the procurement of music education products is projected to reach RMB 1 billion.

Kuke Music Holding Limited (NYSE: KUKE), a premier classical music service in China, has announced the launch of an innovative digital music teaching system called the Music Museum, created in partnership with People's Music Publishing House. Set to debut in March 2023, this system aims to enhance music education across 200,000 schools in China. The Music Museum incorporates licensed Chinese and classical music, featuring modules for classroom teaching, knowledge expansion, and curriculum tests. Kuke holds exclusive classical music copyrights and aims to digitize music education, streamlining teaching processes and fostering greater student engagement.

Kuke Music Holding Limited (NYSE: KUKE), a leading classical music service platform in China, announced its Youth Artist Development Program has achieved record enrollment with nearly 8,500 students, a 200% increase year-on-year. The program, supported by almost 60 top artistic experts, features eight competitive categories. CEO He Yu noted the strong interest in the program is a sign of success in uncovering new musical talent. With an estimated 47% market share in classical music copyright licensing in China, Kuke aims for further growth by integrating music training with its licensing and subscription services.

Kuke Music Holding Limited (NYSE: KUKE), a top classical music platform in China, participated in the Beijing Forum for Performing Arts 2022, highlighting its significant role in revitalizing performing arts. With a library of approximately 3 million music tracks, including over 2 million traditional classical tracks, Kuke is leveraging longstanding relationships with music labels. The company aims to expand content and its client base, focusing on audio and video offerings to schools and enterprises in 2023.

Kuke Music Holding Limited (NYSE: KUKE) announced a change in its independent registered public accounting firm, appointing Yu Certified Public Accountant effective November 17, 2022. This change follows Ernst & Young (EY) not standing for re-appointment. EY's prior audit reports for 2020 and 2021 were unqualified and did not raise significant issues. However, material weaknesses were noted in Kuke's financial reporting. Kuke plans to ensure a smooth transition with Yu Certified Public Accountant for the year ending December 31, 2022.

Kuke Music Holding Limited (NYSE: KUKE), a leading classical music service platform in China, received a non-compliance notification from the NYSE on September 29, due to its American Depositary Shares (ADSs) trading below $1.00 for 30 consecutive days. As of November 2, the average share price was $0.55. Kuke has six months to regain compliance, otherwise, delisting procedures will begin. Despite this, the notification does not impact business operations, and Kuke aims to take reasonable measures to restore compliance.

Kuke Music Holding Limited (NYSE: KUKE), a top classical music service platform in China, announced the appointment of Mr. Jia Li as an independent director, effective September 20, 2022. He replaces Mr. Dong Lan, who resigned for personal reasons. Mr. Li brings extensive experience in media and communications, previously serving in various roles including Chief Strategy Officer at Chuanglian Holdings. Kuke partners with Naxos and serves over 800 institutions in China, providing licensing services and music learning through innovative AI technology.

Kuke Music Holding Limited (NYSE: KUKE) announced it will livestream the Semi-Final, Final I, and Gala Final of the 10th Fritz Kreisler International Violin Competition from September 20 to 25, 2022. Over 200 musicians applied, with 46 reaching the finals, showcasing exceptional talent. Kuke, a leader in China's classical music space, sponsors this prestigious event and offers extensive services, including music licensing and learning via its AI platform, KUKEY. The company partners with Naxos, enhancing its content library from over 900 record labels.