Wasu Media H1 Revenue RMB 4.24 Billion Down 4.39%, Net Profit RMB 210 Million Down 17.25%
Wasu Media reported first-half revenue of RMB 4.24 billion, down 4.39% year-on-year, and net profit attributable to shareholders of RMB 210 million, down 17.25%. Basic earnings per share were RMB 0.1134. The revenue decline was driven by lower income from audiovisual services and group customer integration projects, which outweighed growth in 5G mobile communication and engineering construction businesses.
Wasu Media released its performance preview on July 27. In the first half of the year, the company achieved total operating revenue of RMB 4.24 billion, down 4.39% year-on-year; net profit attributable to shareholders of the parent company was RMB 210 million, down 17.25%; and basic earnings per share were RMB 0.1134.
During the reporting period, the year-on-year decline in operating revenue was mainly due to lower revenue from audiovisual services and group customer integration projects, while revenue growth from the company's 5G mobile communication services and engineering construction projects was insufficient to offset the decline.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is negative for Telecom Operators, with intensity 50/100 and 90% confidence over a short term horizon.
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