Asian Spectator

ACN Newswire Business

Transmit Entertainment Issues Positive Profit Alert

  • Written by ACN Newswire
Transmit Entertainment Issues Positive Profit Alert
HONG KONG, Feb 11, 2019 - (ACN Newswire) - Transmit Entertainment Limited ("Transmit Entertainment" or the "Company", together with its subsidiaries, the "Group"; stock code: 1326) issued today a positive profit alert for, based on the preliminary review on its unaudited consolidated management accounts for the six months ended 31 December 2018, the Group is expected to record net profit of over HK$40 million, turning around from a loss attributable to owners of the Company of approximately HK$28.9 million for the corresponding period last year.

The outstanding results were attributable to the increase in revenue from film production and distribution thanks to the release of the film "L Storm", which was a big success, and also the profit contributed by the wholly-owned subsidiary Khorgas Houhai Culture Media Company Limited ("Houhai Culture"), which was acquired by the Group in August 2018, consolidated into the accounts of the Group for the first time, contributing to the overall performance of the Group.

Ms Zhao Wenzhu, President and Executive Director of Transmit Entertainment, said, "We are committed to developing Transmit Entertainment into a leading all-round film and TV entertainment provider. After we acquired Houhai Culture last August, we now hold via it Broadcasting and TV Program Production and Operation License and intellectual property rights of variety shows and TV series. That plus the Group kicking off cooperation recently with several famous artiste management agencies and scriptwriters, giving it much boosted artiste and scriptwriters resources, the Group has a strong foundation for producing more quality TV series in the future.

"Going forward, Transmit Entertainment will continue to build its business like a pyramid with great productions as foundation, projects as pillars and talent on the top, developing an 'entertainment pyramid' with innovation and dedication and in turn create a new entertainment model. We will tap the huge potential of film and TV business in Greater China and capture the development opportunities presented by the consumption upgrade of entertainment content, with the aim of creating satisfactory returns for shareholders."

About Transmit Entertainment Limited (stock code: 1326)Transmit Entertainment is a media and entertainment company with a diverse portfolio. Its main businesses including production, distribution and licensing of variety shows, television series and films; screening of films; post-production; and advertising, marketing and publication. The Group mainly produces Chinese films, television entertainment programs and television drama series for the Hong Kong and Mainland China markets. It also operates five cinemas and one post-production company in Hong Kong. Its subsidiary Houhai Culture has a professional film and television production team particularly adept in producing variety shows and television drama series, from screenwriting, shooting, post-production to distribution and marketing. It also owns copyrights to a large number of television drama series and has been closely cooperating with top-tier broadcast networks and online streaming platforms.

Topic: Press release summarySectors: Daily Finance, Daily News[1][2] http://www.acnnewswire.com From the Asia Corporate News Network

Copyright © 2019 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

References

  1. ^ Daily Finance (www.acnnewswire.com)
  2. ^ Daily News (www.acnnewswire.com)

Authors: ACN Newswire

Read more http://www.acnnewswire.com/press-release/english/49593/

IEC Telecom: Digital revolution brings new ways of serving rem...

DUBAI, UAE, April 12, 2021 /PRNewswire-AsiaNet/ -- The advancement of digitalisation is now bringing benefits to businesses in hard-to-reach locations, transforming the way they operate and ...

China and Brazil Both Celebrate as World's First Cross-Sea SkyRail Rolls off Production Line

SHENZHEN, CHINA, Apr 11, 2021 - (ACN Newswire) - On April 8th, BYD ushered in a new milestone, as its Bahia SkyRail vehicle rolled off the production line in Shenzhen. The Bahia SkyRail, lo...

Three Bocellis and many instruments in a celebration of life a...

ALULA, Saudi Arabia, Apr. 9, 2021 /PRNewswire-AsiaNet/ -- The world's most beloved tenor, Maestro Andrea Bocelli, gave a stunning performance within the surrounds of the UNESCO World Heritag...

Winning in the Digital Era with the Power of Global Ecosystems...

NANJING, China, April 9, 2021 /PRNewswire-Asianet/ -- The H3C NAVIGATE 2021 International Business Summit came to an end today with more than 100 industry experts, scholars, senior executive...

Copan, putting Covid-19 challenges behind and setting up for t...

BRESCIA, Italy, April 10, 2021 /PRNewswire-AsiaNet/ -- With an email to the main distributors, Copan group's CEO describes how the ramp-up of Covid-19-related products has been concluded, an...

CGTN presents "The War in the Shadows" -- new documentary on f...

BEIJING, April 9, 2021 /PRNewswire-Asianet/ -- A report from CCTV+: Multiple platforms of China Media Group on Friday started airing "The War in the Shadows," the last episode of a tetralogy...

Magazine

Australian startup CareApp receives funding injection to expand app

Australian based startup CareApp has recently raised over $500,000 in funding including $250,000 provided by the South Australian State Government to rapidly expand and scale up their smartphone...

Shaparency launches to enable businesses to go fully digital

New venture developed for post-Covid-19 corporate landscape London-based start-up Shaparency, which has been established in response to the business conditions resulting from Covid-19, announces ...

Specops Significant Cyber Attacks

The prevalence and severity of cyber attacks are increasing at an alarming rate every year. So much so, that statistics from Cybersecurity Ventures estimate that cybercrime will cost the global ...

Writers Wanted



News Co Media

Content & Technology Connecting Global Audiences

More Information - Less Opinion