Litian Pictures (09958) fell nearly 9%. At press time, it was down 8.98% to HK$4.66, with a turnover of HK$1,932,900
The Zhitong Finance App learned that Litian Pictures (09958) fell nearly 9%. As of press release, it was down 8.98% to HK$4.66, with a turnover of HK$1,932,900.
According to the news, the company will release its 2023 annual results today. According to the 2023 interim results previously released by Litian Pictures, the group achieved revenue of 77.064 million yuan (RMB, same below) during the period, an increase of 352.09% over the previous year; losses attributable to shareholders were 6.849 million yuan, a year-on-year decrease of 48.31%; and a basic loss of 0.02 yuan per share.
According to reports, Litian Pictures's main business is to manufacture and buy out TV drama broadcasting rights. Among them, buying out TV series is the most important revenue pillar. In 2017 and 2018, Litian Pictures contributed more than 90% of the company's total revenue by buying out TV series. As of 2022, the company's sales of TV dramas still account for more than 60% of revenue. However, the broadcast rights revenue for homemade TV series has not improved significantly; it is only tens of millions or even millions of yuan.