G.H.Y Culture & Media Holding Co (XJB) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 8% to RMB417.6m, while gross profit fell to RMB41.9m and the period loss widened to RMB144.3m.

• Excluding RMB86.1m of one-time losses from the cancelled soccer tournament, the FY2024 loss would have been RMB58.2m.

Financial highlights

• Revenue was RMB417.6m in FY2024 versus RMB388.0m in FY2023; gross profit was RMB41.9m versus RMB97.9m.

• Gross margin declined to 10.0% from 25.2%.

• Loss for the period was RMB144.3m, compared with a RMB51.7m loss in FY2023.

• Excluding RMB86.1m of one-time tournament-cancellation losses, the FY2024 loss was RMB58.2m.

Outlook and guidance

• Priorities include a healthy pipeline of long-form dramas, micro dramas and films, strengthening core competencies, cost management and improving efficiency with AI.

• Growth opportunities include monetising IP through musical plays, immersive games and augmented realities, and pursuing concert production opportunities.

• Strategic focus includes collaboration with Asian businesses, creative-sector synergies through Orita Sinclair, sustainable returns and a return to profitability and growth.