Huace Film and Television's Q1 quarter revenue of 504 million yuan, net profit increased by 41.07% year-on-year

Huace Film and Television released its first quarterly report yesterday evening. In the first quarter of 2016, the company achieved operating income of 504 million yuan, a year-on-year increase of 62.99%; and achieved net profit of 117 million yuan, a year-on-year increase of 41.07%.

Huace Film and Television released its first quarterly report yesterday evening. In the first quarter of 2016, the company achieved operating income of 504 million yuan, a year-on-year increase of 62.99%; and achieved net profit of 117 million yuan, a year-on-year increase of 41.07%.

According to the report, the all-online dramas that mainly generated income during the reporting period were "Dear Translator","The Story of Laughter at the Hospital 2","Good Luck Comes","Battle of the Nujiang River", the movies "Doomsday","The Girl Man True Love Formula" and the variety show "Who is the God of Songs".

Huace Film and Television said that during the period, the company's SIP strategy was fully upgraded to the SIP+X strategy. Since the beginning of this year, the company has carried out a series of layouts in the VR field, completed strategic investments in Lanting Digital and Thermal Wave Technology, the first-line companies in the VR content production industry, and launched China's first VR variety show "Who is the Great God of Songs". The company said that it will continue to carry out strategic layout in the VR industry and explore innovations in new content forms and new business models.

The report also shows that during the reporting period, the company's seven full-network dramas were premiered on satellite TV + new media; the SIP dramas "Three Life of the Third Life of Ten Miles Peach Blossom","The Legend of the Condor Heroes", and "The Best Domestic Servants" were launched, and the specification of "Super IP+ Superstar + Super Production" has become the new normal for content products. The movie "I Love Cow" started, and "Doomsday" and "The Formula of True Love for a Girl" were released. The first show of the annual variety show "Who is the God of Songs" has received good ratings since its launch, making the first shot in the later stage.

In addition, Huace Film and Television also invested in Wanda Film and Television and Qingdao Wanda Film and Television in the first quarter to connect capital with Wanda. Huace Film and Television also announced that the company reviewed and approved the "Proposal on Holding Subsidiaries Proposed to Apply for Listing on the New Third Board" at the board meeting on April 22. Xi'an Jiayunshe Digital Entertainment Distribution Co., Ltd., the company's holding subsidiary, plans to apply for listing in the national small and medium-sized enterprise share transfer system.

According to the company, the specific factors driving changes in business revenue during the reporting period were: the reporting period was the beginning of the company's implementation of the "Five New" strategies in 2016. Focusing on annual strategic goals and specific business plans, various business platforms accelerated their operation, and upgrades and transformation continued. Advance, new industrial expansion continues to be implemented, and the overall development trend is good.

[Original Announcement]

Huace Film and Television: Full text of the first quarter 2016 report

Editor: vian