Huanxi Media Expects Loss Amidst Fierce Competition

Huanxi Media Group Ltd. (HK:1003) has released an update.

Huanxi Media Group Ltd. has issued a profit warning for the first half of 2024, anticipating a net loss of HK$89 million compared to the net profit of HK$400 million in the same period last year. The downturn is attributed to fierce competition, underperforming box office receipts, and delayed releases of some invested blockbusters. The company expects to improve results with upcoming releases, including films starring prominent actors, and advises shareholders to exercise caution when dealing in its securities.

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