The Zhitong Finance App learned that TV broadcasts (00511) rose by more than 5%, and once rose nearly 9% in early trading. As of press release, it rose 5.03% to HK$3.97, with a turnover of HK$14.112 million.

According to the news, the TV broadcast recently announced the placement of a total of 28.74 million new shares to the majority shareholder Shaw Brothers and the newly introduced Chinese shareholder GF Securities, raising about 109 million yuan to be used for co-productions in mainland China. The company said that the proceeds will be used for general corporate purposes, including working capital for a co-production project between the Group and streaming platform partners in mainland China. It is expected that filming and production of 10 series will begin in the second half of the year.

A TV broadcast announcement last month reiterated the expectation that the Group would achieve significant positive EBITDA for the full year of 2024. According to the announcement, the company's biggest revenue and profit growth engine in mainland China this year was a co-production drama. The company completed the filming of four co-productions within the three-month period ending March 31, 2024.