Ningmeng Pictures released an announcement stating that the group expects to record a net loss of approximately RMB 50 million to 55 million in the first half of 2024, compared to a net profit of about RMB 131 million in the same period last year. At the same time, the group anticipates an adjusted net loss of approximately RMB 47 million to 52 million in the first half of 2024, whereas in the first half of 2023, the adjusted net profit was about RMB 139 million.
The board of directors noted that the primary reason for the net loss and adjusted net loss is that the originally scheduled dramas set to air in the first half of 2024 have been postponed to the second half of 2024 due to scheduling conflicts. As a result, the recognition of the related revenue and profit has also been deferred to the second half of the year.
