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Public company info - Values Cultural Investment Limited , 01740.HK
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Values Cultural Investment Limited, 01740.HK - Company Profile
Chairman Liu Naiyue
Share Issued (share) 1,038,000,000
Par Currency U.S. Dollar
Par Value 5.0E-6
Industry Movies & Entertainment
Corporate Profile Business Summary: The Group is principally engaged in the business of (i) licensing of broadcasting rights of TV series; (ii) investment in TV series as non-executive producer; and (iii) acting as distribution agent of TV series. Performance for the year: Revenue for the year ended 31 December 2019 increased by approximately 38.0% to approximately RMB212.6 million from approximately RMB154.1 million for the year ended 31 December 2018.Gross profit for the year ended 31 December 2019 decreased by approximately 23.3% to approximately RMB61.4 million from approximately RMB80.1 million for the year ended 31 December 2018. Net profit for the year ended 31 December 2019 decreased by approximately 61.5% to approximately RMB24.8 million from approximately RMB64.5 million for the year ended 31 December 2018. Excluding the effect of listing expense, the Group’s net profit for the year ended 31 December 2019 decreased by approximately 36.4% to approximately RMB41.0 million from approximately RMB64.5 million for the year ended 31 December 2018. Business Review The Group is principally engaged in the business of (i) licensing of broadcasting rights of TV series; (ii) investment in TV series as non-executive producer; and (iii) acting as distribution agent of TV series. For the year ended 31 December 2019, the Group had produced and licensed more than 20 TV series and the Group’s TV series are broadcast on well-known TV stations such as China Central Television General Channel* (中國中央電視台綜合頻道), Tianjin Radio & Television Station* (天津廣播電視台), Shandong Radio and Television* (山東廣播電視台), Heilongjiang Radio and Television* (黑龍江廣播電視台) and Jilin Radio and Television* (吉林廣播電視台). On 16 January 2020, the shares in the Company (the “Shares”) were successfully listed on the Main Board of the Stock Exchange (the “Listing”). The Listing marks an important milestone in the Company’s history as it is a recognition of the Company’s past effort in its business development. Prospects: Looking forward, the Company expects that the biggest challenge in 2020 will be the outbreak of COVID-19, the impact of which has already been reflected in the following aspects: (1) TV series planned to be filmed are temporarily halted and the completion time of production is expected to be delayed; (2) staff recruitment plans cannot be executed as scheduled and are forced to be postponed; (3) as new TV series cannot be produced and the relevant distribution licenses cannot be obtained this year, the income expected from such TV series cannot be included in the financial statements for the year ended 31 December 2020; (4) the Group’s daily operation is affected in a certain degree. Facing the said challenges, the Group will adopt the following measures and strategies: (1) revise and improve the scripts and, if circumstances permit, immediately start preparing for the filming of the relevant TV series and reduce the time of production cycle as much as possible; (2) reasonably organize and adjust staff work and start recruiting staff when appropriate; (3) optimize the promotion of TV series to be released, explore the reselling potential of series already broadcasted, and select suitable copyright transactions of TV series to increase financial income as much as possible; (4) ensure that the Group’s daily operation functions normally through telephone contact, the internet and the arrangement of staff shifts. Nevertheless, the Group will dedicate to implement the business strategies as set out in the prospectus of the Company dated 30 December 2019 (the “Prospectus”).

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