China Literature ( (HK:0772) ) has issued an announcement.
China Literature Limited has issued a profit warning, anticipating a net loss of RMB150 million to RMB250 million for the 2024 financial year, primarily due to a non-cash impairment of goodwill from its 2018 acquisition of New Classics Media Holdings Limited. Despite the expected loss, the company plans to focus on developing top-tier film and drama content, which may lead to higher production costs and extended project timelines. However, this strategic shift is expected to strengthen its market position and create long-term value for its intellectual property business.
More about China Literature
China Literature Limited is a company involved in the creation and distribution of online literature and related media content. It focuses on producing high-quality film and drama series content, aiming to establish a strong position in the high-end production industry.
YTD Price Performance: 16.43%
Average Trading Volume: 375
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $4.17B
Find detailed analytics on 0772 stock on TipRanks’ Stock Analysis page.