Home > News content

The producer of "The Voice of China," which went public in Hong Kong and made a name for itself with its variety shows, has lost money for two years in a row

via:凤凰网     time:2022/5/13 23:01:38     readed:45

May 14 news, Star Chinese again submitted to the Hong Kong Stock Exchange, CICC and CITIC Construction Investment International as the co-sponsors.

Speaking of starry Chinese, you may feel a little strange. Star Chinese, formerly Known as Star Culture, completed its restructuring with Star Chinese Media film in Hong Kong, China in August 2021. The company has produced several popular variety shows, such as The Voice of China and The Masked Singer. In addition, Star Chinese has co-produced This is Street Dance with Youku. After 10 seasons, the Voice of China has set a record as the longest-running seasonal variety show in China, according to the Frost Sullivan Report.

Although the star Chinese variety do wind fresh water, but its listing road can be described as very bumpy. In fact, this is not the first time Star Chinese has made a dash for an IPO. It has been eight years since its initial public offering in 2014. In 2014, Star Culture followed its parent company Star Media to go public in Hong Kong, but failed. Subsequently, in December 2018 and May 2020, prospectuses were submitted to CSRC for listing on GEM, but they failed to be listed. Subsequently, in December 2021, Star Chinese transferred to the Hong Kong Stock Exchange, but still failed.

According to its prospectus, Star Chinese is involved in entertainment IP operations and licensing, music IP operations and licensing, film and drama IP operations and licensing, and other IP-related businesses. But for now, Variety'S IP operations remain its largest source of revenue, accounting for 78 percent of its 2021 revenue of 879 million yuan. However, the revenue of variety'S IP operation has been declining year after year, reaching 1.34 billion yuan in 2019 and 1.09 billion yuan in 2020.

In addition, the Revenue and gross profit of The Voice of China, star Chinese's main variety show, declined from 2019 to 2021. Revenue in 2021 was just 252 million, and in 2019 it was 490 million, almost halving in two years. Its gross profit margin also dropped from 229 million yuan in 2019 to 5.6 million yuan in 2021. The Voice of China is hardly back to its heyday.

From 2019 to 2021, The revenue of Star Chinese is 1.807 billion yuan, 1.566 billion yuan and 1.127 billion yuan respectively, and the net profit is 380 million yuan, the loss is 27.8 million yuan and the loss is 352 million yuan.

translate engine: Youdao

China IT News APP

Download China IT News APP

Please rate this news

The average score will be displayed after you score.

Post comment

Do not see clearly? Click for a new code.

User comments