Gelonghui, Feb. 22 | Emperor Culture Industry (00491.HK) announced that for the 2023/2024 interim results, all of the Group's total revenue comes from theatre operations. During this period, the film industry recovered and the total number of cinemas increased the Group's total revenue by 25.9% to HK$267.2 million. The net loss for the current period narrowed to HK$143 million (2022: HK$145 million), mainly due to an increase in the Group's total revenue.
During this period, the Group opened a new Emperor Cinemas in Chongqing, mainland China, and a new Emperor Cinemas Plus+ in Wai Fong, Hong Kong. It is a new large-scale shopping mall located in Tai Wai and has become another representative community landmark in the New Territories of Hong Kong. As of December 31, 2023, the Group owned 23 cinemas under the Emperor Cinemas, Emperor Cinemas Plus+ and MCL Cinema Plus+ brands in mainland China, Hong Kong and Macau, providing a total of 175 screening theaters with approximately 26,000 seats.
The Group's cinemas are located in large commercial and entertainment centers or high-class residential areas. They are all positioned as high-end high-quality theaters, equipped with advanced technology including IMAX and CINITY cinema systems, ScreenX, 4DX or MX4D motion systems, D-Box motion seats, and Dolby panoramic sound systems. These theaters also have special VIP theaters and VIP reception rooms, so that viewers can enjoy exclusive high-quality and unique entertainment services.
The Chinese film screening market, including Hong Kong and Macau, has recently regained its upward trend. Moviegoers' love for Chinese films is particularly high. As disposable income and living standards continue to rise, the Group believes that leisure consumption still has room for further development in the long run.