Saturday, 19 March 2016, 08:31 HKT/SGT

Innovative Cultural Industry Pioneer; Leading Revolutionary E-Entertainment Commercial Model

HONG KONG, Mar 19, 2016 - (ACN Newswire) - Creative China Holdings Limited today announced its audited annual results for the year ended 31 December 2015.

Financial Review
For the year ended 31 December 2015, the Group recorded revenue of approximately RMB72.6 million, representing a 29.3% increase comparing to the last year. The Group recorded a gross profit of approximately RMB33.0 million, representing a 18.9% increase comparing to the last year. The increase in turnover and gross profit was mainly attributable to the diversification of customer base and the stable business relationship with our key customers during the year. Profit for the year was approximately RMB0.3 million, taking out the one-off listing expenses of approximately RMB10.4 million (2014: RMB0.5 million), attributable to owners of the Company was approximately RMB10.7 million (2014: RMB7.0 million), representing a 54.1% increase comparing to the attributable to owners of the Company last year after taking out the one-off listing expenses.

Business Review
The Group was successfully listed on GEM on 18 November 2015. The proceeds raised have strengthened the Group's cash flow and provided financial resources to the Group in developing the Group's core businesses and exploring new business opportunities in order to maximise the value of the Company. The Group is principally engaged in the businesses of program production and event organisation in the PRC. As a result of diversifying customer base and the stable business relationship with our key customers, the revenue of program production segment and event organisation increased by approximately 21.9% and 37.3%, respectively, in year ended 31 December 2015 as compared to the year ended 31 December 2014. The Group will continue to explore and develop cooperation opportunities with other customers.

Prospects
With a flourish, Chinese cultural media industry has entered a new phase at present. Collaboration across business has become a new trend in the market, while traditional operation model now failed to meet the demand of industrial innovation. As a result, it is cultural media & internet synergy and superiority complementation of platform, content and technology that leads to the maximum of diversified cultural innovation and repercussion.

The Group has a series of developments in the pipeline which creates decent business opportunities ahead. Creative China will continue developing the comprehensive cooperation model by means of integrating the television media, Internet media, print media, film production team and related marketing institutions. At the aim of consolidating a far-reaching communication power, Creative China seeks to break the traditional media structure and finally elevate the integrated operation of creativity into a brand new model.

At the same time, the Group will continue to focus on the core businesses of program production and event organisation, explore and develop cooperation opportunities with different customers, and strengthen the relationship with key customers. We will explore other possible revenue streams, such as sharing profits generated from products derived and launched in the program and program sponsorship; capitalising on the rapid development of internet by increasing the habitual usage of internet and mobile internet audiences through likes, virtual gifts and other means to enhance interaction between users and content provider during live concert, awards ceremony, film premieres and home entertainment content. Through full utilisation of star effects, precise customers targeting, video derivative products enrichment and the instant purchase characteristics, we aim at leveraging the huge online traffic to purchasing behaviors, tapping into the trillion online shopping market and leading a revolutionary e-entertainment commercial model.

Topic: Press release summary Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network