On July 8th, Gelunhui reported that Guizhou BC&TV Information Network (600996.SH) released its performance forecast for the first half of 2024, and its preliminary financial estimates indicate a net loss of -490 million yuan to -380 million yuan belonging to shareholders of the listed company. After deducting non-recurring gains and losses attributed to shareholders of listed companies, net profit is expected to range from -570 million yuan to -450 million yuan.
The company predicts a net loss attributable to shareholders of the listed company for the first half of 2024. The main reasons are: the downturn of the traditional business of cable television in the broadcasting-TV network due to the impact of internet video business and IPTV interactive television business, shrinking users and market; the fierce competition in the mobile phone card market, and the 5G business of broadcasting-TV network cannot make up for the decline of traditional business gap; the company adjusts and optimizes its investment direction and mode of projects based on the actual situation of the governmental and enterprise market at the present stage, focuses on projects with fund guarantee and sustainable business, and as local government finance tightens and the real estate market cools down, engineering projects such as informationization, data transmission, and broadcasting-TV installation have significantly reduced.