Summary by Moomoo AI
China Ruyi Holdings Limited (“China Ruyi”) issued a positive earnings forecast on March 21, 2024. It is expected that the Group will record an unaudited net profit after tax deduction of approximately RMB11 to RMB12 billion for the year ended December 31, 2023, a significant increase from RMB1.8 billion in the same period last year. UNAUDITED REVENUE IS EXPECTED TO REACH APPROXIMATELY RMB34.5 BILLION TO RMB4.4 BILLION, UP 161.4% TO 203.0% YEAR-ON-YEAR; ADJUSTED PROFIT IS EXPECTED TO BE AROUND RMB9.3-10.8 BILLION, INCREASING 257.7% TO 315.4% YEAR-ON-YEAR. The growth was mainly driven by increased revenues from the film and television production business and the rapid development of the games business. The Board also expects that, based on Hong Kong's financial reporting criteria, the Group will record a net profit after...Show More