Litian Pictures (09958) Issues Profit Warning, Expects Annual Net Loss of Approximately RMB 49 Million to RMB 53 Million

Stock News09-28

The board of Litian Pictures (HKEX: 09958) has announced that the group is expected to record a net loss of approximately RMB 49 million to RMB 53 million for the year ended June 30, 2026 (the reporting period), compared with a net loss of approximately RMB 554 million for the comparative period (January 1, 2024 to June 30, 2025).

The board believes that the substantial decrease in the expected net loss is mainly attributable to the following: impairment losses on drama series copyrights (including self-produced drama series, outsourced drama series, jointly produced drama series that have completed production, and script copyrights) decreased from approximately RMB 202 million in the comparative period to approximately RMB 22 million in the reporting period; and the reporting period recorded a net reversal of impairment losses on accounts receivable and other receivables of approximately RMB 24 million, whereas the comparative period recognized impairment losses of approximately RMB 69.3 million on accounts receivable and other receivables.

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