Quantum Music (QSG, Financial) shares experienced a notable surge, climbing over 12% in recent trading and settling at an increase of over 8%, with shares priced at $3.453. The company reported impressive financial results for its fiscal year 2024, with total revenue reaching 3.8 billion RMB, a significant year-over-year rise of 23.2%. Fourth-quarter revenue alone totaled 1.0 billion RMB, marking a 20.7% increase compared to the previous year.
The company's adjusted net income has been positive for seven consecutive quarters, reflecting a consistent improvement in profitability. Additionally, Quantum Music continues to see high-quality user growth, with a total registered user base of 127.6 million as of June 30, 2024.
In line with its financial success, Quantum Music announced that its board has approved a special dividend distribution to reward its shareholders. Each ordinary share will receive a special dividend of $0.067, equivalent to $0.201 per American Depositary Share (ADS).
