Mango Excellent Media Co. (300413) Q2 2024 earnings summary

Executive summary

• Achieved revenue of ¥6.96 billion in H1 2024, up 2.46% year-over-year; operating profit rose 2.15% to ¥1.23 billion.

• Net profit attributable to shareholders was ¥1.06 billion, down 15.45% year-over-year due to changes in tax incentives.

• Maintained industry leadership in long-form video, with Mango TV's content and membership business as core drivers.

• Continued innovation in AI and content, with the launch of the “Mango Large Model” and expansion in short-form content.

• No interim dividend distribution planned for the half-year.

Financial highlights

• Revenue: ¥6.96 billion, up 2.46% year-over-year; operating profit: ¥1.23 billion, up 2.15%.

• Net profit attributable to shareholders: ¥1.06 billion, down 15.45% year-over-year.

• Net cash flow from operations: -¥180 million, a significant decrease from ¥1.05 billion last year.

• Basic and diluted EPS: ¥0.57, down 14.93% year-over-year.

• Adjusted net profit (excluding non-recurring items): ¥912 million, down 22.96% year-over-year.

Outlook and guidance

• Management expects continued growth in membership and content-driven revenue, with AI and digital innovation as key levers.

• Industry trends point to stable user base, increased focus on premium content, and further integration of technology and media.