Television broadcasting (00511) fell by more than 10%. At press time, it was down 9.06% to HK$3.11, with a turnover of HK$6.656 million.
The Zhitong Finance App learned that the TV broadcast (00511) fell by more than 10%. As of press release, it was down 9.06% to HK$3.11, with a turnover of HK$6.656 million.
According to the news, television and radio announced the 2023 annual results. The group obtained revenue of HK$3.322 billion, a decrease of 7.33% over the previous year; the company's shareholders should have accounted for losses of HK$763 million, a decrease of 5.5% over the previous year; and a loss of HK$1.74 per share. No dividends. TVB has been losing money for 6 years. Previously, it had continuous losses from 2018 to 2022, with losses exceeding HK$2.2 billion over five years.
In addition, TVB Chairman Xu Tao said that EBITDA achieved about HK$46 million in the second half of last year. Compared with an EBITDA loss of HK$186 million in the first half of the year, it is expected that the full EBITDA correction will be achieved throughout this year. He also pointed out that since currently the priority task is to turn losses into profits, although there are currently no plans to lay off workers, the possibility of layoffs is not ruled out.