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The morning gains on tvb continued to expand, with the stock price soaring by over 20%.
tmb (00511) continued to expand its gains in the morning session, with a sharp rise of 20.26%, now trading at 3.74 Hong Kong dollars, with a turnover of 26.6436 million Hong Kong dollars.
Television Broadcasts Raises HK$79 Million via Share Subscription
TVB (00511.HK) completes the distribution of 20 million shares, raising approximately 78.8 million Hong Kong dollars net.
The company TVB (00511.HK) announced on September 27 that all conditions in the subscription agreement have been met, and the subscription has been completed on September 27, 2024. The company has issued a total of 20 million new shares to the subscribers. The net proceeds from the issuance of subscription shares are approximately HK$78.8 million, which will be used for general corporate purposes, including operating funds for cooperation projects with streaming platform partners in China, for the production of joint drama projects. Depending on the time and cash expenditure cycle involved in different drama series, the group is expected to fully utilize the net proceeds from the subscription by December 31, 2024.
TVB: 2024 Interim Report
TVB's H1 Loss Narrows as Revenue Slides; Shares Fall 3%
TVB: The mid-term shareholder's share of the loss was HKD 0.143 billion, a significant decrease compared to last year's loss of HKD 0.407 billion.
Television Broadcast (00511.HK) announced on August 21 that the total revenue of its core television-related business (excluding the e-commerce business segment) for the six months ending on June 30, 2024 increased by HKD 0.156 billion or 12% to HKD 1.445 billion, mainly due to a 20% increase in revenue from the Hong Kong television broadcast division and a 22% increase in revenue from the China mainland business division. The group's total revenue for the period (including the e-commerce business segment) decreased slightly by HKD 47 million or 3% to HKD 15.13 billion.
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