Kuke Music Holding Ltd (KUKEY)
Kuke Music Holding Limited, established in Beijing, China, in 2002, specializes in delivering a variety of classical music-related services across the Chinese market. Its core offerings encompass music licensing, subscription plans, and educational programs. The company's operations are divided into two main areas. The first, designated as its Subscription, Licensing, and Smart Education sector, handles the distribution of commercial music rights and develops advanced music education solutions. The second segment, focusing on Music Events, Performances, and Ancillary Services, orchestrates music festivals and live performances, offers publicity and promotional support, provides technical assistance, and sells musical instruments, including its signature "conch smart speakers." Kuke's extensive music library is licensed to a wide range of clients. These include leading online music streaming services like Tencent Music Entertainment Group and NetEase Cloud Music, other digital music providers, various business organizations, film and television production studios, airlines, and manufacturers of smart hardware. Its institutional customer base features academic establishments such as universities and music conservatories, public library systems, and governmental bodies spanning numerous autonomous regions and municipalities.
Sector: Services-Educational Services
Industry: Entertainment
Kuke Music Holding Limited
OTC:KUKEYCommunication Services · Entertainment
Mkt Cap-
Float2.19M
O/S-
Inst Own-
SI1.4%
Dilution
Delisting Issues Timeline
Financials Summary
Revenue$10.34M
Net Income-$9.74M
Total Assets$39.19M
Free Cash Flow-$6.97M
Debt & Equity
Debt 65%
Equity 35%
Total Debt$10.59M
Total Equity$5.71M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in KUKEY's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$39.19M
Liabilities$33.52M
Accounts Receivable$7.94M
Accounts Payable$7.9M
Inventory$0
PP&E (Net)$698K
Goodwill$0
Intangible Assets$27.39M
Income Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Revenue | $10.34M | $16.04M | $17.26M | $44.37M | $24.43M | $21.9M | $22.83M |
| YoY Growth | -35.5% | -7.1% | -61.1% | 81.7% | 11.5% | -4.1% | - |
| Cost of Revenue | $6.31M | $8.45M | $14.67M | $19.37M | $6.64M | $4.85M | $5.12M |
| Gross Profit | $4.02M | $7.59M | $2.6M | $25.92M | $17.79M | $17.05M | $17.72M |
| Gross Margin | 38.9% | 47.3% | 15.0% | 58.4% | 72.8% | 77.9% | 77.6% |
| Research and Development | $0 | $945K | $2.8M | $4.17M | $1.89M | $1.54M | $1.6M |
| Selling, General, and Administrative | $9.24M | $13.02M | $15.16M | $30.87M | $13.62M | $6.83M | $9.97M |
| Other | $4.09M | $2.44M | $117.31M | -$2M | $2.74M | -$1.79M | $0 |
| Total Operating Expenses | $13.32M | $16.4M | $135.26M | $33.05M | $18.25M | $6.58M | $9.85M |
| Operating Income (EBIT) | -$9.3M | -$8.82M | -$132.66M | -$7.57M | -$465K | $10.32M | $7.87M |
| Operating Margin | -90.0% | -55.0% | -768.5% | -17.1% | -1.9% | 47.1% | 34.5% |
| Interest Expense | $1.13M | $1.05M | $727K | $1.15M | $1.52M | $486K | $286K |
| Interest Income | $365K | $1K | $5K | $12K | $243K | $39K | $9K |
| Other Income (Expense) | -$760K | -$1.05M | -$872K | -$1.21M | -$1.27M | -$448K | -$278K |
| Income Before Tax (EBT) | -$10.06M | -$9.87M | -$133.54M | -$8.79M | -$1.74M | $9.88M | $7.59M |
| Income Tax Expense | $0 | $900 | $970K | $155K | $543K | $1.36M | $1.52M |
| Net Income | -$9.74M | -$9.79M | -$134.51M | -$8.93M | -$2.46M | $8.41M | $5.79M |
| Net Income Margin | -94.2% | -61.1% | -779.1% | -20.1% | -10.1% | 38.4% | 25.4% |
| Supplementary Data | |||||||
| EPS | -14.80 | -20.90 | -302.80 | -20.30 | -7.00 | 19.00 | 13.10 |
| Diluted EPS | -14.80 | -20.90 | -302.80 | -20.30 | -7.00 | 19.00 | 13.10 |
| Weighted Average OS | 4.38M | 3.12M | 2.96M | 2.93M | 2.35M | 2.96M | 2.96M |
| EBITDA | -$7.22M | -$7.34M | -$127.26M | -$3.22M | $1.59M | $11.36M | $8.68M |
| EBITDA Margin | -69.8% | -45.8% | -737.1% | -7.2% | 6.5% | 51.9% | 38.0% |
Balance Sheet
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 |
|---|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 | 2017-12-31 |
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and Cash Equivalents | $385K | $1.14M | $814K | $8.85M | $3.86M | $3.45M | $4.67M | $2.05M |
| Short-Term Investments | $0 | $110K | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $385K | $1.25M | $814K | $8.85M | $3.86M | $3.45M | $4.67M | $2.05M |
| Accounts Receivable | $7.94M | $4.73M | $1.39M | $17.45M | $27.28M | $27.8M | $17.92M | $11.99M |
| Inventory | $0 | $0 | $117K | $1.1M | $142K | $271K | $151K | $64K |
| Other Current Assets | $0 | -$110K | $371K | $0 | $1.22M | $0 | $6.71M | $0 |
| Total Current Assets | $10.55M | $8.06M | $7.99M | $31.84M | $35.84M | $33.38M | $28.96M | $14.65M |
| Long-Term Assets | ||||||||
| Property, Plant & Equipment Net | $698K | $638K | $2.44M | $9.52M | $4.96M | $2.23M | $679K | $825K |
| Goodwill | $0 | $115K | $115K | $35.58M | $35.58M | $0 | $0 | $0 |
| Intangible Assets | $27.39M | $24.79M | $9.93M | $70.99M | $39.46M | $25.27M | $19.56M | $10.11M |
| Long-Term Investments | $0 | $355K | $0 | $150K | $74K | $349K | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $1.16M | $1.34M | $569K | $558K | $478K |
| Other Long-Term Assets | $550K | $3.31M | $16.53M | $14.25M | $14.33M | $13.73M | $4.32M | $1.77M |
| Total Long-Term Assets | $28.64M | $29.21M | $29.01M | $131.64M | $95.73M | $42.14M | $25.11M | $13.18M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $39.19M | $37.27M | $37M | $167.26M | $131.57M | $75.53M | $54.07M | $27.82M |
| Liabilities | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $7.9M | $5.22M | $6.72M | $5.03M | $4.42M | $5.72M | $4.5M | $1.81M |
| Short-Term Debt | $9.71M | $11.87M | $10.35M | $6.22M | $9M | $8.25M | $5.95M | $750K |
| Current Income Tax Payable | $876K | $4.37M | $156K | $223K | $1.56M | $1.47M | $1.23M | $701K |
| Current Unearned Revenue | $1.91M | $947K | $3.1M | $3.53M | $3.65M | $2.41M | $2.15M | $1.62M |
| Other Current Liabilities | $1.6M | $1.78M | $4.51M | $6.28M | $0 | $7.56M | $10.81M | $0 |
| Total Current Liabilities | $31.47M | $31.06M | $27.13M | $23.85M | $30.64M | $26.91M | $20.04M | $11.18M |
| Long-Term Liabilities | ||||||||
| Long-Term Debt | $182K | $450K | $0 | $907K | $0 | $4.75M | $0 | $0 |
| Long-Term Unearned Revenue | $1.39M | $1.86M | $62K | $55K | $88K | $65K | $165K | $106K |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $213K | $217K | $0 | $0 | $0 |
| Other Long-Term Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Long-Term Liabilities | $2.05M | $2.68M | $760K | $1.29M | $1.78M | $6.24M | $165K | $415K |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $33.52M | $33.73M | $27.89M | $25.51M | $32.42M | $33.15M | $20.21M | $11.59M |
| Stockholders' Equity | ||||||||
| Preferred Stock | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Common Stock | $53K | $33K | $30K | $29K | $24K | $18K | $18K | $16K |
| Retained Earnings | -$147.47M | -$137.73M | -$127.94M | $6.17M | $15.1M | $17.56M | $9.15M | $0 |
| Comprehensive Income & Other | $153.32M | $141.15M | $136.87M | $134.46M | $98.37M | $41.78M | $33.36M | $16M |
| Other Stockholders' Equity | $153.13M | $140.96M | $136.67M | $134.59M | $83.27M | $24.22M | $24.21M | $16M |
| Total Equity | $5.71M | $3.26M | $8.77M | $140.78M | $98.39M | $41.8M | $33.38M | $16.02M |
| Minority Interest | -$46K | $272K | $349K | $971K | $760K | $579K | $485K | $208K |
| Total Liabilities and Equity | $39.23M | $37M | $36.65M | $166.29M | $130.81M | $74.95M | $53.59M | $27.61M |
| Supplementary Data | ||||||||
| Total Debt | $10.59M | $12.95M | $11.67M | $7.62M | $11.62M | $15.21M | $6.28M | $1.43M |
| Net Debt | $10.21M | $11.81M | $10.86M | -$1.23M | $7.76M | $11.76M | $1.61M | -$620K |
Cash Flow Statement
| Period | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 |
|---|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD | USD |
| Period Ending | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
| Operating Activities | |||||||
| Net Income | -$10.06M | -$9.79M | -$134.1M | -$8.93M | -$2.46M | $8.41M | $5.79M |
| Depreciation & Amortization | $1.72M | $1.47M | $5.55M | $3.49M | $1.82M | $994K | $805K |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $229K | $852K | $2.28M | $8.09M | $2.91M | $0 | $0 |
| Changes in Working Capital: | |||||||
| Accounts Receivable | $1.75M | -$2.32M | $373K | $7.79M | -$3.89M | -$10.1M | -$4.72M |
| Inventory | $0 | $117K | -$168K | -$953K | $129K | -$17K | -$86K |
| Accounts Payable | $2.7M | $503K | $0 | $0 | $0 | $0 | $0 |
| Other Working Capital | -$2.83M | $645K | -$58K | -$3.57M | -$705K | $153K | $747K |
| Total Working Capital Change | $1.63M | -$1.06M | $148K | $3.27M | -$4.46M | -$9.97M | -$4.06M |
| Other Non-Cash Items | $3.66M | $5.41M | $122.15M | $3.79M | $6.14M | $3.17M | $3.65M |
| Net Cash from Operating | -$2.82M | -$3.11M | -$3.97M | $9.7M | $3.94M | $2.61M | $6.18M |
| Investing Activities | |||||||
| Capital Expenditures | -$4.15M | $0 | -$24K | -$8.69M | -$1.63M | -$2.02M | -$271K |
| Acquisitions | $0 | $0 | $47K | $0 | $161K | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | -$4.17M | -$26K | -$5.79M | -$34.98M | -$16.73M | -$3.58M | -$19.42M |
| Net Cash from Investing | -$8.32M | -$26K | -$5.77M | -$43.67M | -$18.2M | -$5.59M | -$19.69M |
| Financing Activities | |||||||
| Debt Repaid | -$3.2M | -$2.06M | $2.25M | -$3.06M | -$426K | -$2M | -$4.84M |
| Common Stock Issuance | $8.03M | $0 | $43.93M | $0 | $13.56M | $0 | $11.57M |
| Common Stock Repurchases | $0 | $0 | -$191K | -$191K | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$843K | $1.4M | -$1.49M | $35.78M | $677K | -$225K | -$286K |
| Net Cash from Financing | $10.39M | $3.46M | $1.7M | $38.97M | $14.66M | $1.77M | $16.13M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | -$751K | $322K | -$8.04M | $5M | $406K | -$1.22M | $4.67M |
| Supplementary Data | |||||||
| Operating Cash Flow | -$2.82M | -$3.11M | -$3.97M | $9.7M | $3.94M | $2.61M | $6.18M |
| Capital Expenditure | -$4.15M | $0 | -$24K | -$8.69M | -$1.63M | -$2.02M | -$271K |
| Free Cash Flow | -$6.97M | -$3.11M | -$3.99M | $1.01M | $2.32M | $588K | $5.91M |
| Cash at Beginning | $1.14M | $814K | $8.85M | $3.86M | $3.45M | $4.67M | $0 |
| Cash at End | $385K | $1.14M | $814K | $8.85M | $3.86M | $3.45M | $4.67M |