截至本招股说明书签署日，无线传媒已汇聚了近300路高清、标清直播频道，30万余小时分类点播节目，以及在线教育、电视游戏、智慧社区 、智慧教 育等多元化增值业务，并具备2小时时移、7 天回看等IPTV独有的功能服务， 为用户提供了差异化、个性化、优质体验的高清交互电视服务。On September 13, Wireless Media (301551.SZ) began its subscription.
According to the Futubull APP, on September 13, Wireless Media (301551.SZ) began its subscription at an issue price of 9.40 yuan per share, with a subscription limit of 0.006 million shares, a PE ratio of 13.95 times, and is listed on the GEM of the Shenzhen Stock Exchange. CSC Securities is its exclusive sponsor.
According to the prospectus, authorized by Hebei Broadcasting and Television Station, Wireless Media is the exclusive operator of IPTV integrated content operation and other broadcasting and television new media businesses in Hebei Province, which is the only operating institution for triple-play access networks content integration and broadcast control platform in Hebei Province.
As of the signing date of this prospectus, Wireless Media has aggregated nearly 300 HD and SD live channels, over 0.3 million hours of categorized on-demand programs, as well as diversified value-added services such as online education, television games, smart community, and smart education. It also provides IPTV unique services such as 2-hour time shift and 7-day replay, providing users with differentiated, personalized, and high-quality interactive TV services.
As of the end of 2023, the number of basic IPTV users and value-added users of Wireless Media reached 15.3632 million households and 0.7041 million households, respectively, which remained relatively stable compared to the end of 2022. According to the data from the Ministry of Industry and Information Technology, as of the end of 2023, the number of fixed broadband access users in Hebei Province reached 31.797 million households. As IPTV services have deep integration characteristics with broadband Internet services, the scale of IPTV users of Wireless Media still has certain room for development.
In terms of finance, the company achieved operating revenue of approximately 0.672 billion yuan, 0.654 billion yuan, and 0.646 billion yuan in 2021, 2022, and 2023, respectively. The net income of the company was approximately 0.356 billion yuan, 0.291 billion yuan, and 0.284 billion yuan, respectively, in RMB.
It is understood that the funds raised by Wireless Media will be used for the following projects after deducting issuance expenses:
It is worth noting that the prospectus specifically warns investors to pay attention to the risk of limited expansion of IPTV basic business user scale. During the reporting period, the company's main source of income comes from IPTV integrated broadcast control business. According to the relevant policies of the State Administration of Radio and Television, provincial IPTV integrated broadcast control platforms can only provide IPTV services within the province and are not allowed to operate across regions. Under the above policy provisions, the company's IPTV basic business is only targeting end customers in Hebei Province, and the growth of end customer numbers is affected by the population and household size growth within Hebei Province; value-added services can be expanded to provinces outside Hebei, but have not yet generated significant revenue. If the company cannot effectively expand its business boundaries or increase average revenue per user based on the current business, it may face the risk of slowing down or even declining business performance.
