www.ubs.com/investmentresearchThisreporthasbeenpreparedbyUBSSecuritiesAsiaLimited.ANALYSTCERTIFICATIONANDREQUIREDDISCLOSURESBEGINONPAGE48.UBSdoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhaveaconflictofinterestthatcouldaffecttheobjectivityofthisreport.Investorsshouldconsiderthisreportasonlyasinglefactorinmakingtheirinvestmentdecision.GlobalResearch29July2019ChinaOnlineMusicIndustryLivestreamingandshortvideoarechangingthemusicindustrySignificantgrowthopportunities—butnewdisruptorsareemergingWebelieveonlinemediaconsumersinChina—liketheircounterpartsindevelopedmarkets—areincreasinglywill...
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