Summary by Moomoo AI
Hongyi Culture Group (formerly known as Huayi Tencent Entertainment) announced its interim performance for the six months ended June 30, 2024, with total revenue of HKD 0.489 billion, a 22% decrease compared to the same period last year. The main sources of revenue are the digital operation service "Yi Zhi Nuo" and the smart health service platform "Lao Gek Health" in the medical industry. During the period, the revenue of Yi Zhi Nuo decreased by 23%, and the revenue of Lao Gek Health decreased by 21%, mainly due to the impact of medical reform policies and business restructuring. The entertainment and media business did not generate any revenue. The continued operation business incurred a narrowed loss of approximately HKD 46.18 million during the period, a decrease of 31% compared to the same period last year. The Group issued HKD 120,000,000 convertible bonds during the period and carried out business and structural reorganization to improve operational efficiency and explore new business models.