Beijing Media (01000) released its interim results for the six months ended June 30, 2024, during which the group achieved operating...
According to the announcement, the increase in net loss was mainly due to an increase in cost of goods sold of 18.236 million yuan, resulting from the company's new development of outdoor advertising resources for subway stations, as well as the increased cost of subsidiary Beijing Media Innovative Culture and Exploration Business. The sale of outdoor subway advertising was in the traditional off-season in the first half of the year, and the delayed opening of the Wanjing West Station on the northern section of Beijing Subway Line 17 resulted in a decrease in overall passenger flow and core commercial value, which had a certain impact on the overall advertising sales on the line. The company is actively negotiating with Beijing Jinggang Subway Co., Ltd. to reach an overall solution through methods such as reducing the guaranteed operating rights fee, transforming subway media, and replacing resources, in order to reduce costs or increase revenue.
Beijing Media (01000) released its interim results for the six months ended June 30, 2024, during which the group achieved total operating revenue of 91.732 million yuan (same currency below), an increase of 13.72% year-on-year; a net loss of 10.107 million yuan, an increase of 132.88% year-on-year; and a loss per share of 0.04 yuan.
