Ling Meng Film & Television (09857) announced its 2023 results, with revenue of about 1,222 billion yuan, an increase of 28.41 billion yuan over the previous year...
According to Zhitong Finance App News, Ning Meng Film & Television (09857) announced its 2023 results, with revenue of about 1,222 million yuan, up 28.41% year on year; adjusted net profit of about 227 million yuan, up 60.39% year on year; net profit of about 214 million yuan, net loss of about 732 million yuan in 2022; profit per share of 0.59 yuan, and proposed final dividend of 0.218 yuan per share.
According to the announcement, the increase in revenue was mainly due to the increase in the number of episodes broadcast of the group's long dramas, and the overseas business grew rapidly. Furthermore, the short drama business and artist business all contributed to the increase in the group's revenue.
The adjusted net profit increase is mainly due to a marked increase in the broadcast volume of the Group's long dramas in 2023 compared to 2022, and a significant increase in overseas distribution; overall budget management results were shown, and costs were effectively controlled; and in addition, new businesses such as short dramas and artist businesses also brought incremental profit contributions.
In 2023, the group insisted on being loyal to quality and long-term principles, reaching new heights in the quality of copyright dramas, deepening comprehensive budget management, and achieving stage results; accelerating diversified business layouts and building an overseas business platform “Ling Meng International” to achieve localized content production; the film business achieved new project breakthroughs to achieve startup and success; developed strategic brand customer resources, and the artist business achieved rapid growth; and accelerated the expansion of the multi-form short drama business, successfully building an industry leader in the short drama circuit, contributing increased revenue growth to new businesses such as short dramas and artist businesses; student development, Explore the application of AI in production processes, actively build enabling organizations, and ultimately achieve effective growth in performance.