Shanghai Media Giant Posts First-Half Profit of USD124.11 Million, Up 7.24 Percent Annually
Dou Shicong
/SOURCE : Yicai
Shanghai Media Giant Posts First-Half Profit of USD124.11 Million, Up 7.24 Percent Annually

(Yicai Global) Aug. 30 -- Shanghai's culture and media giant Shanghai Oriental Pearl Media Co. [SHA:600637] saw operating income of USD1.34 billion (CNY8.8 billion) in the first half of this year, up 11.32 percent from a year earlier, while net profit grew 7.24 percent to USD124.11 million.

The company's media and entertainment services brought in USD1 billion, up 9.62 percent annually. Its video distribution business revenue totaled USD249 million, an increase of 16.49 percent, while content-making income was USD66.69 million, up 3.68 percent.

Its fastest growing video distribution business, internet protocol television, grew by 10.37 percent, internet TV surged 46.85 percent and cable digital TV increased by 32.67 percent.

Oriental Pearl Media is one of the most comprehensive cultural media companies in China, and includes film and television, games, advertising, tourism, copyright development, real estate and other sectors. Its number of users totals over 100 million.

The company will promote its entertainment strategy in terms of five aspects including content, channel, service, users and ecology, and is committed to becoming a leader in China's home entertainment and lifestyle, Zhang Wei, chairman, said.

Oriental Pearl Media also signed a strategic cooperation agreement with Microsoft Corp. [NASDAQ:MSFT] and Shenzhen Tencent Computer System Co., a subsidiary of tech giant Tencent Holdings Ltd. [HKG:0700] in June this year to perfect the entertainment industry layout of the company.

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Keywords: MSCI , Financial Performance