According to the Smart Finance App, TVB (00511) opened more than 8%, at the time of writing, rose 8.14%, reported 3.28 Hong Kong dollars, turnover of 0.3173 million Hong Kong dollars.

In terms of news, TVB announced that the Group is expected to achieve positive EBITDA during the six-month period ending on June 30, 2024. Compared with the EBITDA loss for the same period in 2023, there is a significant improvement. Therefore, the Group reiterated its expectation of achieving significant positive EBITDA for the full year 2024. In addition, based on the current business momentum, the Group also expects to achieve positive net income (profit attributable to company shareholders) during the six-month period ending on December 31, 2024, without considering special one-time projects (if any).

It is worth mentioning that the announcement stated that the Group's advertising revenue from the free-to-air channels in Hong Kong has continued to grow this quarter, and overall revenue from advertising clients has achieved a double-digit percentage increase compared to the same period last year. Despite the overall weakness of the advertising market in Hong Kong, the Group continues to attract new clients, including leading financial and consumer brands that hope to leverage the Group's extensive coverage in Hong Kong. In addition, the Jade and Pearl channels launched by the Group in Guangdong province attract more than 20 million viewers to watch each month, and the new advertising products launched by the Group in the Greater Bay Area of Guangdong province have achieved preliminary results. Therefore, compared to the three-month period ending on March 31, 2024 and June 30, 2023, the Group's prime time television advertising unit price achieved strong double-digit percentage growth this quarter.