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i-cable comm (01097.HK) realized profits of 13.65 million yuan from the sale of Guangzhou customer service center property.
i-cable comm (01097.HK) announced the sale of a commercial property located in Yuexiu District, Guangzhou, currently used as the group's in-house telephone customer service center, to an independent third party Guangzhou Zhiyuan Management for 21.3 million RMB. The estimated sales proceeds are approximately 13.65 million Hong Kong dollars.
i-cable comm (01097.HK) plans to sell properties in Guangzhou for 21.3 million yuan.
Grace 11th, i-cable comm (01097.HK) announced that on November 5, 2024, the seller (an indirect wholly-owned subsidiary of the company) entered into the agreement with the buyer; whereby the seller agreed to sell and the buyer agreed to purchase the property for a total price of RMB 21.3 million. The property is a commercial property located in Yuexiu District, Guangzhou, China, with a total construction area of approximately 2,366 square meters. The group currently uses the property as its own telephone customer service center. After completion, the group will no longer have any equity in the property. The operational scale of the telephone customer service center is limited, and the utilization rate of the property has always been low. The directors believe
Roland Berger: The growth of the entertainment and media industry in Hong Kong is expected to slow to 2.3% this year, with the OTT market becoming popular while print media fades.
PwC's "Global Entertainment and Media Outlook 2024-2028" predicts that the revenue of the entertainment and media industry in Hong Kong increased by 4.5% last year, with the market size expected to slow to 2.3% in 2024, reaching $12.87 billion. The compound annual growth rate from 2024 to 2028 is projected at 2.06%, with revenue expected to reach $14 billion in 2028. In the OTT market, Hong Kong has experienced rapid growth in the past two years, reaching $0.371 billion in 2023. It is expected that this market will continue to expand at a compound annual growth rate of 5.7% and reach $0.491 billion by 2028.
I-CABLE COMM: INTERIM REPORT 2024
i-cable comm (01097.HK): The broadcast of the Paris Olympics will make a positive contribution to the performance in the second half of the year.
i-cable comm (01097.HK) recorded a loss of 0.255 billion yuan in the first half of the year, with the revenue from its ongoing business operations increasing by about 5% annually to 0.277 billion yuan. The company stated that the revenue from its media division's ongoing business operations in the first half of the year increased by about 37% annually, with advertising and digital media business revenues growing by approximately 39% and 49% respectively. During this period, the telecommunications business benefited from cost-saving measures, recording a segment profit of approximately 57 million yuan, an increase of about 8% year on year. Additionally, the company's overall expenses decreased by approximately 18% in the first half of the year. The company stated that it will further improve its production process for the Paris Olympics broadcast this year, including collaborating with Hong Kong and Taiwan.
The performance of i-cable comm (01097.HK) half-year loss widened to 0.255 billion yuan.
I-cable comm (01097.HK) announced its interim business results ending June this year, with continuous operation business income of 0.277 billion yuan, up 5.2% year-on-year. The loss expanded to 0.255 billion yuan, compared to a loss of 0.197 billion yuan in the same period last year; loss per share of 3.6 cents. No dividend issued.
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