Huanxi media: it is estimated that the profit in the first half of the year will be about HK $20 million, significantly lower than that of the previous year

It was reported on August 14 that Huanxi media released a profit warning announcement. It is estimated that the six months ending June 30, 2020 will record revenue of about HK $490 million and continue to record a profit of about HK $20 million, which is significantly lower than that of the six months ended June 30, 2019. According to the novel coronavirus epidemic, the

announcement shows that the group’s investment in many films needs to be delayed in theaters this year, resulting in a substantial reduction in the theatrical line revenue during the year. However, in the six months up to June 30, 2020, the group’s premiere of films exclusively invested by the group on the streaming media platform has brought considerable benefits to the group, while the number of users and revenue of the group’s “happy Premiere” streaming media platform has increased significantly. At present, the download amount of “happy Premiere” app has exceeded 17 million, and the paid users have exceeded 3.3 million.

happy media expects novel coronavirus epidemic situation will be improved, the group’s investment in a number of films will be released after the theaters will contribute to the group’s revenue, the group’s performance will be improved. Continue ReadingDeveloped a “plug and play” solar power generation scheme, and “5B” won a $12 million round a financing