LITIAN PICTURES (09958) Issues Profit Warning, Expects Net Loss of Approximately RMB554 Million

Stock News11-20

LITIAN PICTURES (09958) announced that the group expects to record a net loss of approximately RMB554 million for the period from January 1, 2024, to June 30, 2025, compared to a net loss of RMB156 million for the year ended December 31, 2023. The board attributes the expected loss primarily to: i) impairment losses of approximately RMB202 million recognized on the copyrights of self-produced TV series, acquired TV series, co-financed TV series, and scripts; ii) gross losses of approximately RMB164 million from the sales and broadcasting of self-produced TV series due to unrecoverable production costs; and iii) impairment losses of approximately RMB69 million on trade and other receivables, resulting from tightened procurement budgets of broadcasting platforms, fierce competition in the downstream end-user market of TV and streaming industries, and difficulties in collecting trade receivables due to industry-wide liquidity constraints during the period from January 1, 2024, to June 30, 2025.

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