On October 29, 2024, the third quarterly report of Huace Film and Television (300133.sz) was released. In the first three quarters, the company achieved operating income of 892 million yuan, a year-on-year decrease of 39.05%; net profit after deducting non- was 7.115 billion yuan, a year-on-year decrease of 55.01%, which was already halved.
However, looking at the third quarter alone, Huace Film and Television’s operating income was 525 million yuan, a year-on-year increase of 60.16%; non-net profit after deduction was 72 million yuan, a year-on-year increase of 13.46%.
The core business of Huace Film and Television is the production and distribution of TV series and copyright distribution. The third quarterly report did not specifically disclose the business situation and the reasons for the decline in performance. In the first half of 2024, the company's TV drama production and distribution business revenue plummeted 96.8% year-on-year.
Nandu reporter noticed that in recent years, Huace Film and Television has continued to increase its focus on short dramas. In the third quarter, it premiered a high-quality short drama "21 and 31". The total number of views of the feature film exceeded 200 million, and it won the Douyin short drama title for 2 consecutive weeks. Number one on the hottest list. The two mini-program short dramas 2 premiered, namely "I'm Busy Farming in the Cold Palace" and "Rebirth of the Fat Farmer Wife". The former was listed as Douyin's top ten recommended short dramas in July, and the latter ranked No. 1 in popularity for two consecutive days. one.
In July this year, Huace Film and Television actively carried out investment and mergers and acquisitions. It acquired 82.8572% of Ningbo Yuanyao Enterprise Management Partnership (Limited Partnership) with 44 million yuan of its own funds; it acquired Ningbo Yuanhao Enterprise Management Partnership with 32 million yuan. (limited partnership) 87.6466% share; at the same time, its wholly-owned subsidiary Zhejiang Film and Television Industry International Cooperation Experimental Zone Xixi Investment Management Co., Ltd. acquired 17.1429% share of Ningbo Yuanyao for 7 million yuan; acquired 12.3534% share of Ningbo Yuanhao for 03 million yuan share.
After the transaction is completed, Ningbo Yuanyao and Ningbo Yuanhao will become wholly-owned enterprises of Huace Film and Television, and through these two platforms, they will complete the acquisition of all shares of Shanghai Huajuhui Technology Co., Ltd. (hereinafter referred to as "Shanghai Huajuhui") acquisition.
In the acquisition announcement, Huace Film and Television stated that Shanghai Huaju Hui’s goal is to build China’s largest film and television material copyright operation platform . It continues to expand innovative business formats in the fields of new media operations and new technology exploration, such as promoting technological and intelligent short video and aerial shot production, multi-channel construction of international content distribution, secondary distribution of ringtone video copyright, Douyin Mini program paid content cooperation, computing power operation services, etc.
In the first half of 2024, Shanghai Huajuhui’s operating income was 60 million yuan and net profit was 10 million yuan.
On October 29, 2024, the third quarterly report of Huace Film and Television (300133.sz) was released. In the first three quarters, the company achieved operating income of 892 million yuan, a year-on-year decrease of 39.05%; net profit after deducting non- was 7.115 billion yuan, a year-on-year decrease of 55.01%, which was already halved.
However, looking at the third quarter alone, Huace Film and Television’s operating income was 525 million yuan, a year-on-year increase of 60.16%; non-net profit after deduction was 72 million yuan, a year-on-year increase of 13.46%.
The core business of Huace Film and Television is the production and distribution of TV series and copyright distribution. The third quarterly report did not specifically disclose the business situation and the reasons for the decline in performance. In the first half of 2024, the company's TV drama production and distribution business revenue plummeted 96.8% year-on-year.
Nandu reporter noticed that in recent years, Huace Film and Television has continued to increase its focus on short dramas. In the third quarter, it premiered a high-quality short drama "21 and 31". The total number of views of the feature film exceeded 200 million, and it won the Douyin short drama title for 2 consecutive weeks. Number one on the hottest list. The two mini-program short dramas 2 premiered, namely "I'm Busy Farming in the Cold Palace" and "Rebirth of the Fat Farmer Wife". The former was listed as Douyin's top ten recommended short dramas in July, and the latter ranked No. 1 in popularity for two consecutive days. one.
In July this year, Huace Film and Television actively carried out investment and mergers and acquisitions. It acquired 82.8572% of Ningbo Yuanyao Enterprise Management Partnership (Limited Partnership) with 44 million yuan of its own funds; it acquired Ningbo Yuanhao Enterprise Management Partnership with 32 million yuan. (limited partnership) 87.6466% share; at the same time, its wholly-owned subsidiary Zhejiang Film and Television Industry International Cooperation Experimental Zone Xixi Investment Management Co., Ltd. acquired 17.1429% share of Ningbo Yuanyao for 7 million yuan; acquired 12.3534% share of Ningbo Yuanhao for 03 million yuan share.
After the transaction is completed, Ningbo Yuanyao and Ningbo Yuanhao will become wholly-owned enterprises of Huace Film and Television, and through these two platforms, they will complete the acquisition of all shares of Shanghai Huajuhui Technology Co., Ltd. (hereinafter referred to as "Shanghai Huajuhui") acquisition.
In the acquisition announcement, Huace Film and Television stated that Shanghai Huaju Hui’s goal is to build China’s largest film and television material copyright operation platform . It continues to expand innovative business formats in the fields of new media operations and new technology exploration, such as promoting technological and intelligent short video and aerial shot production, multi-channel construction of international content distribution, secondary distribution of ringtone video copyright, Douyin Mini program paid content cooperation, computing power operation services, etc.
In the first half of 2024, Shanghai Huajuhui’s operating income was 60 million yuan and net profit was 10 million yuan.
Nandu reporter Miao Lingyun from Shanghai
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