Huanrui Century (000892) recently released the 2017 Annual Express. According to the announcement, Huanrui Century achieved operating income of 1.567 billion yuan in 2017, a year-on-year increase of 112.2%; net profit of 422 million yuan, a year-on-year increase of 59.23%.
Huairui Century said that the company's main growth was mainly due to the main business of TV drama production and distribution, artist brokerage, online games, etc. The revenue increased by 746 million yuan, 44.436 million yuan and 31.558 million yuan respectively.
The Express is the first full-year financial report of the company after the completion of the restructuring and reorganization of the company. The company's performance has increased significantly. Zhao Ruicheng, president of Huanrui Century, said that the company signed sales contracts worth more than 1.5 billion in 2017. From the perspective of profit scale, Huanrui has been ranked among the top listed companies in China's drama production, and its performance in 2018 is expected to continue its rapid growth.
According to reports, Huanrui 2017 has signed nearly 1.5 billion sales contracts with well-known video platforms such as Tencent and Aiqiyi, and is expected to continue to contribute revenue performance in 2018. In addition, the loss of Huanrui Century in the first three quarters of 2017 was mainly due to the unsatisfactory investment in the weekly broadcast theater cooperation with local TV. Huanrui Century judged that the cooperation model will not continue in 2018. If this loss is deducted, the actual net profit of Huanrui in 2017 should be much higher than the combined data.
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