Star Plus Legend Holdings (6683) H2 2024 earnings summary

Executive summary

• FY2024 revenue rose 35.8% YoY to RMB584.0m; gross profit increased 18.4% to RMB327.0m and net profit rose 21.3% to RMB50.2m.

• IP creation and operation generated 53.8% of revenue, while new retail contributed 46.2%.

Financial highlights

• Revenue was RMB584.0m vs RMB430.2m in FY2023; cost of revenue increased to RMB257.0m from RMB153.9m.

• Gross profit reached RMB327.0m vs RMB276.3m; operating profit was RMB83.4m vs RMB64.5m.

• Profit for the year was RMB50.2m vs RMB41.4m; profit attributable to owners was RMB56.1m vs RMB34.5m.

• Selling and marketing expenses rose to RMB143.3m; G&A increased to RMB114.0m, partly offset by a RMB31.9m reduction in listing expenses.

Outlook and guidance

• J-Style Trip season three began airing in March 2025; a cycling-themed variety show and other programmes are expected in 2025.

• Planned 2025 events include an August Fitness Carnival and an Eric Suen Yiu Wai concert in Malaysia.

• Planned product initiatives include Modong Magic functional coffee, upgraded matcha powder and a new line of emotional-value products.

• Overseas plans include exploring international celebrity collaborations and establishing a Taiwan production line with third-party manufacturers for MODONG coffee and other products.

• Plans include CHOUCHOU retail stores, VIVICYCLE stores, expanded vending machines and AI tools for marketing and distributor livestreaming.