Damai Entertainment (01060) saw its stock price surge by 7.55% during intraday trading on Tuesday, continuing its recent upward trend. The significant rise comes on the heels of a strategic partnership announcement that has bolstered investor confidence in the company's growth prospects.
The primary catalyst for the stock's jump was the June 26 announcement that Damai's app would serve as the exclusive ticketing platform for the Jiangsu Football League, starting with the July 5 match between Nanjing and Suzhou teams. This partnership marks Damai's strategic entry into regional sports event ticketing, expanding its reach beyond its traditional female-dominated music performance business and into the male audience segment.
Analysts from CITIC Securities view this expansion positively, noting that it strengthens the "Buy Tickets on Damai" brand recognition and unlocks long-term growth potential. Additionally, the company's strong position in the music performance sector and potential revenue contributions from Alibaba Fish's increased IP licensing and marketing activities for brands like Sanrio and Chiikawa are further fueling investor optimism. The market also seems to be discounting the closure of Damai's collectible brand Jinli Naqu, viewing it as an immaterial restructuring move compared to the company's broader growth initiatives.
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