China-Singapore Jingwei, August 19th: Huace Film and Television’s revenue and net profit dropped in the first half of the year. On the evening of the 19th, Huace Film and Television disclosed the "2024 Semi-Annual Report" stating that operating income in the first half of the yea

China-Singapore Jingwei, August 19th Huace Film and Television ’s revenue and net profit both dropped in the first half of the year.

On the evening of the 19th, Huace Film and Television disclosed the "2024 Semi-Annual Report" stating that the operating income in the first half of the year was 368 million yuan, a year-on-year decrease of 67.67%; the net profit attributable to shareholders of the listed company was 71.2036 million yuan, a year-on-year decrease of 70.39%.

　Screenshot of Huace Film and Television's semi-annual report, the same below.

　 Regarding the decline in revenue, Huace Film and Television explained that it was due to a year-on-year decrease in revenue items recognized by the company’s new dramas in this period. As of the end of June, Huace Film and Television has four TV series projects in post-production, among which "A Bright Future" and "Seven Nights of Snow" have been certified in August 2024, and "A Bright Future" is scheduled to be broadcast on August 18, 2024.

The semi-annual report shows that during the reporting period, Huace Film and Television launched 2 TV series projects and 3 premiered; 3 movie projects were released and 1 was launched; and 1 animation project was broadcast.

Huace Film and Television said that in the first half of the year, the company focused on the project development of code disks, and the number of starts was reduced compared to the previous period. has completed the launch of two drama series "National Color Youth" and "Imperative". In the second half of the year, the company will We will pragmatically promote project development and focus on producing and reserving works with rich themes. In addition to focusing on existing advantageous tracks, we will also actively explore and make good layouts in vertical tracks such as male videos and suspense.

Specifically, in the first half of the year, Huace Film and Television broadcast three works: "Our Translator", "Cheng Huan Ji" and "Please Fall in Love with Me"; it has steadily promoted its film business and has started filming "Wild Times". "Assassination of Novelists 2" also started filming in August this year; it has completed three projects, "Flying Life 2", "I Don't Want to Be Friends with You" and "Silent Kill".

During the same period, Huace Film and Television made great efforts in high-quality short dramas and mini-program short dramas. The long-running IP linkage project "My Way Home Is Windy" was on the Douyin hot list 9 times and the Douyin entertainment list 12 times during its broadcast. The average episode playback volume exceeded 10 million, and the total album playback volume was nearly 200 million. Selected as one of the outstanding online audio-visual works of the State Administration of Radio and Television in the first quarter of 2024; the commercially customized high-quality short drama "The Man Who Keeps Time" topped the Douyin short drama list; the mini-program short drama accurately targeted the viewing audience, "The Man Who Keeps Time" "Rebirth of the Farmer's Fat Wife" has been on the hot list of short dramas for 10 days since its launch, and was recommended as an outstanding female channel drama by Douyin Drama Qingyousheng's high-quality short dramas in July.

In addition, Huace Film and Television mentioned that in May 2024, the company's self-developed "Youfeng" large model has been registered according to the national generative artificial intelligence service list, becoming the first A-share company to pass the national "generative artificial intelligence service list" A film and television company that has independently developed large-scale models.

The semi-annual report also shows that in the second half of 2024, Huace Film and Television plans to launch 8 TV series, 5 short plays, 4 movie launches and release plans (including animated movies and online movies), and plans to produce 1 cartoon/animated movie .

It is worth mentioning that in the first half of 2024, Huace Film and Television recorded a net cash flow generated from operating activities of -99.5353 million yuan, a year-on-year decrease of 152.65%. Huace Film and Television explained that the main reason is that the company's collections in this period have decreased compared with the same period last year; at the same time, the number of TV series and movie projects in the current period has increased, and procurement expenditures have increased significantly.

Huace Film and Television stated that the company plans not to distribute cash dividends, give away bonus shares, or convert provident funds into share capital in the first half of the year.

According to the official website of Huace Film and Television, the company was listed on the Shenzhen Stock Exchange GEM on October 26, 2010, becoming the largest Chinese film and television group listed company in China with TV series and movies as its core business.

In the secondary market, Huace Film and Television fluctuated throughout the day on August 19, closing up 0.55% at 5.44 yuan, with the latest market value of 10.3 billion yuan.(China-Singapore Jingwei app)