Sinomedia (00623) announced its 2024 interim performance, with revenue of approximately 0.333 billion yuan, a year-on-year decrease of 11%;...
According to the Asia Vets Finance APP, Sinomedia (00623) announced its 2024 interim performance, with revenue of approximately 0.333 billion yuan, a year-on-year decrease of 11%; the attributable net profit to equity shareholders of the company was 29.879 million yuan, a year-on-year decrease of 30%; and the earnings per share was 0.065 yuan.
Among them, the business income of television media resource operation was 0.1765 billion yuan, a year-on-year decrease of 16%. With the weakening of the festive effect in the first quarter of 2024, television advertising costs began to decline from the second quarter. In particular, advertising expenditures for clients in the maternal and child products, construction materials, and home appliances categories decreased significantly compared to the same period last year. The group will continue to focus on changes in demand, innovate the media product portfolio, improve operational efficiency and product competitiveness, and strive to overcome the difficulties and challenges brought by market fluctuations.
The total revenue from content management, other integrated communication services, and other operations was 43.731 million yuan, a year-on-year decrease of 17%. Among them: (1) the revenue of content management business was 7.961 million yuan, a year-on-year decrease of 45%. Due to the impact of the budget cuts of some clients, both revenue from creative content marketing and commercial advertising video production decreased from the same period last year. (2) The other integrated communication services and other business income was 35.77 million yuan, a year-on-year decrease of 6%. This business income mainly comes from the commission income obtained by the Group as an agent for clients to purchase media resources and from the media suppliers. Due to the settlement cycle of commission income from media suppliers, the commission income obtained during the review period was slightly lower than the same period last year.
The total revenue from digital marketing and online media was 95.55 million yuan, a year-on-year increase of 10%. Among them: (1) the self-developed asia vets programmatic advertising placement platform of the group operated well, and the high-quality customers increased the advertising placement volume during the period, resulting in a significant increase in digital marketing revenue compared to the same period last year; (2) The scale of online media revenue was slightly lower than the same period last year.