Summary by Moomoo AI
China Ruyi Holdings Limited announced its unaudited interim results for the six months ended June 30, 2024. The report shows that the company's revenue increased from approximately 80.4 billion yuan in the same period of 2023 to approximately 184 billion yuan, and the net loss decreased from approximately 26.4 billion yuan to approximately 12.3 billion yuan. The adjusted net profit turned from a loss of approximately 31.5 billion yuan in the same period last year to a profit of approximately 86.3 billion yuan. The adjusted EBITDA increased from approximately 51.6 billion yuan to approximately 137.9 billion yuan, and the profit margin increased from 64.2% to 75.0%. The company has made significant progress in film & television production, online streaming media, and gaming business, as well as in the application of AI technology in scriptwriting and character development. In addition, the company completed the acquisition of Beijing UYoung Culture & Media Co., Ltd in May 2024, and further cooperated with EA on the Red Alert IP. The company did not propose to distribute interim dividends.
