According to the announcement from BGCTV (600037.SH), the company’s finance department has preliminarily estimated that it expects to achieve a net profit attributable to the shareholders of the parent company for the year 2024 to be between -99.2548 million yuan and -66.1699 million yuan, indicating a loss. The company expects to achieve a net profit attributable to the shareholders of the parent company, excluding non-recurring gains and losses, to be between -131.7865 million yuan and -98.7016 million yuan for the year 2024.

The main reason for the expected loss during the reporting period is the year-on-year increase in the provision for asset impairment. The operating performance of joint ventures has also declined. At the same time, affected by industry downturns and intensified market competition, the company has seen a decrease in basic cable television subscription fees, channel transfer income, and advertising revenue