Summary by Moomoo AI
Ali Pictures announced its unaudited mid-term results for the first half of 2024, with revenue reaching 3.051 billion yuan, a 17% year-on-year increase. Despite the slowdown in global film industry growth and the Chinese film market's activity being lower than last year, the company achieved business breakthroughs in a complex market environment through a 'content + technology' dual-driver strategy and actively optimized its operation management strategy. During the reporting period, the company participated in the production and distribution of 47 films, with box office accounting for nearly 60%. In addition, the company completed its acquisition of Damon, further consolidating its advantage in the ticketing platform. During the reporting period, the company recorded an adjusted EBITA of 0.642 billion yuan, a year-on-year increase of 39%, but the profit attributable to the company's owners was 0.337 billion yuan, a year-on-year decrease of 27%. As of the end of the reporting period, the company held cash and cash equivalents of approximately 3.095 billion yuan, maintaining a net cash position.
