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01740 VALUES CULTURAL
RTNominal unchange0.113 0.000 (0.000%)
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05/08/2021 15:37

Values Cultural (01740) sees increase in interim loss

[ET Net News Agency, 5 August 2021] Values Cultural Investment Limited (01740) said for
the six months ended 30 June 2021, it is expected that the group will record a net loss
ranging from approximately RMB25 million to RMB30 million, as compared to the group's net
loss amounting to approximately RMB6.5 million for the six months ended 30 June 2020.
It was mainly due to (i) the decrease in revenue resulting from the failure of broadcast
and/or production of certain TV series which the group acted as executive producer and/or
non-executive producer according to the expected schedule and the decision to defer
investments in new TV series considering the market condition and macro-economic
environment; and (ii) the increase in provision for impairment of financial assets due to
the long-aged trade receivables from certain customers. (RC)

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