Summary by Moomoo AI
TVB announced its mid-year performance for 2024. For the six months ended on June 30, 2024, the total revenue of its core television-related business (excluding the e-commerce business segment) increased by 12%, reaching HKD 1.445 billion. The Hong Kong Television Broadcasting Division and the Mainland China Business Division grew by 20% and 22% respectively. The Group's total revenue slightly decreased by 3% to HKD 1.513 billion, mainly due to the downsizing of the e-commerce business segment. A positive EBITDA of HKD 47 million was achieved during the period, an improvement from the negative EBITDA of HKD 0.186 billion in the same period last year. TVB Plus, the new channel, was launched on April 22, 2024, providing a wide range of live programs and information content. The influence of social media platforms has expanded, with an average monthly active user base exceeding 20 million. The shareholders' attributable loss during the period decreased to HKD 0.143 billion, with a loss per share of HKD 0.33. The board of directors does not recommend the distribution of interim dividends.
