In recent years, the streaming media market has ushered in a big explosion, Hengteng Network is undoubtedly the biggest "dark horse". On the evening of August 17, Hengteng Network issued an announcement that it expects to deduct non-net profits of approximately 110 million yuan in the first half of the year, a substantial increase of approximately 1432% from the net profit of 7.18 million yuan in the same period last year, and the profit mainly comes from key business sectors. However, due to the acquisition of the certified equity issued by Ruyi Pictures, in accordance with the corresponding accounting treatment, insubstantial losses were incurred.
The strong growth of key main business segments is the key to the soaring profit of Hengteng Networks in the first half of the year. On the one hand, the company's original content production and production section has been deeply cultivated for many years, has a rich talent pool, a keen market sense, and strong profitability. "Hello, Li Huanying" produced by Confucianism Films has a cumulative box office of 5.4 billion, becoming a box office of Chinese film history. Second place: It is reported that the company currently has many popular dramas in production, which will provide a strong guarantee for sustained high growth in the second half of the year.
On the other hand, the channel structure is becoming more and more perfect, the potential of the streaming media platform is stimulated, and the traffic has exploded. The cumulative paid subscribers of Pumpkin Movie, its long video playback platform, has nearly quadrupled in half a year , As of the end of May, it has reached 20,147,000 people, demonstrating the strong growth trend of the current leader of pure subscription streaming media in China.
Relying on its own super-high growth, Hengteng Network has recently received a heavy increase in Tencent's holdings. In the first half of this year, Tencent has established a long-term cooperation with Hengteng Networks in copyright. It is believed that as Tencent increases its holdings, the two parties will have more in-depth strategic cooperation in the future.
analysts pointed out that in the future, relying on Confucian Films’ industry chain ecology and Tencent’s huge advantages in the Internet platform, Hengteng Network’s development potential will continue to be released as the streaming media market expands. The goal of the Chinese version of Netflix is just around the corner.
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