GHY Culture & Media Expects Fiscal Year 2024 Net Loss on Event Cancellation
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GHY Culture & Media Holding Co anticipates a net loss for the fiscal year ending December 31, 2024, due to the cancellation of a soccer tournament in Shenzhen and declining profit margins in its television, film, and concert production segments. The company is negotiating with Saudi club Al Nassr to mitigate costs from the canceled event. Additionally, GHY will switch its financial reporting currency from Singapore dollars to yuan, while maintaining its functional currency.
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