Summary by Futu AI
China Ruyi Holdings Limited announced its unaudited interim results for the six months ended June 30, 2024. The report shows that the company's revenue increased from approximately 0.804 billion RMB in the same period of 2023 to approximately 1.84 billion RMB, and the net loss decreased from approximately 0.264 billion RMB to approximately 0.123 billion RMB. The adjusted net profit turned from a loss of approximately 0.315 billion RMB in the same period last year to a profit of approximately 0.863 billion RMB, and the adjusted EBITDA increased from approximately 0.516 billion RMB to approximately 1.379 billion RMB, with a profit margin increasing from 64.2% to 75.0%. The company has made significant progress in the film & television production, online streaming media, and gaming businesses, and has made progress in the application of AI technology in scriptwriting and character development. In addition, the company completed the acquisition of Beijing You'ao Entertainment Technology Co., Ltd. in May 2024 and reached further cooperation with EA regarding the Red Alert IP. The company did not recommend the distribution of interim dividends.