Summary by Moomoo AI
BROADCAST DATA LIMITED (SILKWAVE INC.) ANNOUNCED ITS ANNUAL RESULTS FOR THE YEAR ENDED DECEMBER 31, 2023 SHOWING THAT YEAR-OVER-YEAR LOSSES WIDENED TO APPROXIMATELY $74.97 MILLION, AN INCREASE OF 153.9% FROM $29.53 MILLION LAST YEAR. Revenue fell 14.2% to $7,338K and gross profit rose 2.5% to $2,524K. The Company's total assets decreased sharply by 61.0% to $44,785 thousand and total liabilities decreased by 34.5% to $11,666 thousand. Broadcast data showed that due to the impact of COVID-19, its affiliated company Silkwave Holdings Limited in China postponed regulatory approvals for commercial services and delayed fundraising activities for new satellites, resulting in a profit loss attributable to the joint venture to $49.6 million. In addition, the impairment loss confirmed by intangible assets increased significantly to $20.2 million. THE COMPANY HAS NOT DECLARED ANY FINAL DIVIDENDS AND SAID IT WILL CONTINUE TO EXPLORE OTHER OPPORTUNITIES AND DIVERSIFIED SOURCES OF REVENUE.