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TVB: NP Expected This Yr w/ No Plans to Raise Funds via Financing & Shr Placement
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TVB (00511.HK) will “fully embrace AI” in the future, and believed that it will bring revolutionary benefits to the industry, Thomas Hui, Executive Chairman of TVB, said. However, at present, the business model in the industry is not yet mature, while the technology is still in development and is at the stage of “dare to try”, with decent results of the internal testing for the time being. Based on the current momentum and taking into account the fact that most of the remaining non-performing assets have been written off last year, EBITDA is expected to grow significantly YoY this year, and is on track to deliver a positive net profit attributable to shareholders, Hui added. TVB has saved $565 million in operating costs over the past year, and the Company has no plans to raise funds through financing and share placement, Group Chief Financial Officer Ian Lee said. AAStocks Financial News |
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