Glonghui, November 28 | Mao Ji Kwai Chung (01716.HK) announced that for the six months ended September 30, 2024, the Group's revenue increased by about 41.6% year-on-year to HK$44.6 million. The increase was mainly due to an increase in revenue from the Digital Media Services segment, due to an increase in the number of customers and customer marketing expenses, as well as an increase in the Group's revenue from planning performance events from other media services divisions.
A net profit of approximately HK$4.7 million was recorded, while a net loss of approximately HK$2 million was recorded for the six months ended September 30, 2023. The main reasons for the reversal from a recorded net loss to a net profit were: (i) an increase in profit from digital media services; (ii) an increase in revenue from the Group's planned performance events during the period; and (iii) an increase in fair value revenue from the phased acquisition of 31% equity in connection with the acquisition of ToBeHonest's 31% equity during the period. The Group aims to further enhance brand awareness and will continue to work on the digital media services division to seize the business opportunities brought by more digitalization in the market.
The Group mainly provides customers with comprehensive advertising and media services. Comprehensive advertising and media services can be classified as: (i) digital media services. Under this service, the Group provides customers with one-stop advertising solutions including digital media platforms (including (a”) “100 Mao” operated by the Group, “Mao Ji TV” and fan pages of the Group's contracted artists on third party social media platforms; and (b”) Maoji TV “website and mobile application” (“digital media platform”) (“digital media platform”), third party TV channels, internet and physical advertising places, etc. Distribution channels run videos, online banners, newsletters, and editorials; (ii) print media services, including sales of books and magazines; and (iii) other media services including event planning, artist management, consultancy revenue, and live-action role-playing game revenue.
