Chinese music platform Cloud Music on Thursday reported a net profit of 734 million yuan for 2023, reversing a loss of 221 million yuan in 2022 and marking its first-ever annual profit.

FAST NEWS: Cloud Music posts first annual profit

The latest: Chinese music platform Cloud Music Inc. (9899.HK) on Thursday reported a net profit of 734 million yuan ($102 million) for 2023, reversing a loss of 221 million yuan in 2022…