Latest Forum Topics /
GHY Culture
Last:0.415
![]() |
![]() |
GHY Culture
|
|||||
n3wbie
Master |
18-Mar-2023 20:07
|
||||
x 0
x 0 Alert Admin |
Even if they deliver the turnaround as per DBS estimates of $9M net profit in FY24, it is still a far cry from > $30M net profit they reported in IPO. Did they list at peak earnings and when can we realistically see a return to those levels of profitability? 
|
||||
Useful To Me Not Useful To Me | |||||
Joelton
Supreme |
18-Mar-2023 09:07
|
||||
x 0
x 0 Alert Admin |
DBS sees turnaround for GHY Culture & Media in FY2023
 
GHY Culture & Media XJB -2.38% is eyeing a turnaround in FY2023 ended December, after its FY2022 results came in below DBS Group Research&rsquo s expectations.
 
GHY, on Feb 28, reported a net loss of $9.4 million for FY2022 ended December, on the back of a 45% decline in revenue to $45.7 million. For 2HFY2022, the group reported net loss of $8.0 million while revenue dropped 36% y-o-y, but up 22% h-o-h.
 
The overall net loss was mainly due to a foreign exchange loss of about $8.8 million arising from the appreciation of the Singapore dollar against the Chinese renminbi in FY2022, as the group has significant operations in mainland China.
 
In addition, GHY faced delays in signing contracts with some customers under the TV programme and film production business segment due to Covid-19 measures in mainland China that began in March 2022 and continued until November 2022.
 
While key terms may have been agreed upon in principle with customers, contract signing and production with some of the customers were delayed, which presented challenges in finalising these contracts.
 
For FY2022, the group recognised revenue mainly from three dramas, one online short-form drama series and two concert productions. Concerts account for 44% of the total revenue for FY2022.
 
GHY subsequently held a results briefing on March 14. Following the briefing, DBS analyst Ling Lee Keng slashed her FY2023/2024 earnings estimate by 70%-80%, with a lower number of projects, especially for the TV programme and film production segment.
 
In a March 15 note, Ling maintained &ldquo hold&rdquo on GHY with a slightly higher target price of 45 cents from 43 cents previously. The new target price represents a 7% upside against its last traded price of 42 cents.
 
&lsquo Healthy production pipeline&rsquo
 
Despite the net loss, GHY declared a dividend per share (DPS) of 0.10 cents.
 
Ling expects GHY to turn around this year, with the resumption of concert production, China&rsquo s reopening and the absence of the foreign exchange (forex) loss seen in FY2022.
 
Concert resumption and China reopening are positive developments, says Ling. &ldquo The resumption of concert production and the reopening of China would help boost the company&rsquo s overall performance going forward, though the challenging macroeconomic outlook could dampen discretionary spending.&rdquo
 
Ling also points to contract assets representing the group&rsquo s right to consideration for TV drama and film productions in progress. As at Dec 31, 2022, this stood at approximately $41.0 million.
 
Likewise, GHY&rsquo s concert production business has rebounded strongly, says Ling. &ldquo The group sold out tickets for Jay Chou&rsquo s concerts in Singapore and Malaysia in FY2022 and January 2023 respectively. Two more Jay Chou concerts are planned for Australia in March and Hong Kong in August 2023.&rdquo
 
Ticket sales for the concerts in Singapore were recognised in FY2022 while the Malaysia and Australia sales will be recognised in FY2023.
 
There are also plans to resume Jay Chou&rsquo s concerts in China, notes Ling, &ldquo as well as co-productions of concerts with other popular and well-known international artistes&rdquo .
 
Even with a healthy production pipeline, execution is still key, says Ling. &ldquo We project three or four dramas for FY2023/2024, compared to three in FY2022. The successful rollout of the productions in the pipeline would be the key to seeing an improvement in the group&rsquo s financial performance.&rdquo
 
From a net loss of $9.4 million in FY2022, Ling forecasts FY2023 net profit of $4.90 million, which could nearly double to $9.13 million in FY2024.
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
n3wbie
Master |
17-Mar-2023 23:12
|
||||
x 0
x 0 Alert Admin |
DBS report seems quite unconvincing of the group given that they cut EPS estimates with the tv program production side / so now its the other way round, concerts trying to lift the group earnings while dragged by tv program / need both engines to be firing | ||||
Useful To Me Not Useful To Me | |||||
tedlim
Senior |
17-Mar-2023 09:46
|
||||
x 0
x 0 Alert Admin |
DBS on GHY: FY22 results below expectations anticipate turnaround in FY23 &bull Concert resumption and China re-opening are positive developments &bull Healthy production pipeline but execution is still key cut assumption on number of projects for FY23F/FY24F &bull Maintain HOLD with slightly higher TP of S$0.45 based on sum-of-the-parts valuation methodology https://researchwise.dbsvresearch.com/ResearchManager/DownloadResearch.aspx?E=hejdfkhfj |
||||
Useful To Me Not Useful To Me | |||||
WBdisciple
Master |
17-Mar-2023 09:44
|
||||
x 0
x 0 Alert Admin |
Their drama productions will likely normalise given the easing of the COVID-19 measures in China. Singapore is a good example of how biz normalises once the measures are eased.  So I expect that their FY2023 results will be powered by both their drama productions and concert productions. Let' s see their announcements ahead   大 陆 恢 复 审 批 港 澳 台 演 出 周 杰 伦 等 数 十 艺 人 有 演 唱 会 计 划发 布 /
 
2023年 2月 17日 9:42 AM
![]() 字 体 大 小 :
中 国 各 地 文 化 和 旅 游 行 政 部 门 恢 复 对 涉 港 澳 台 营 业 性 演 出 的 受 理 和 审 批 。 著 名 歌 手 周 杰 伦 、 五 月 天 、 周 华 健 、 任 贤 齐 等 数 十 组 艺 人 , 年 内 都 有 演 唱 会 计 划 。 据 中 国 演 出 协 会 微 信 公 号 消 息 , 歌 手 周 杰 伦 、 五 月 天 、 周 华 健 、 任 贤 齐 、 刘 若 英 等 港 台 艺 人 , 李 宇 春 、 毛 不 易 、 张 艺 兴 、 许 嵩 、 张 杰 、 华 晨 宇 、 薛 之 谦 、 许 巍 等 内 地 艺 人 在 内 的 数 十 组 艺 人 , 年 内 都 有 演 唱 会 计 划 。 与 演 唱 会 一 同 升 温 的 还 有 大 型 音 乐 节 , 仅 两 家 音 乐 节 品 牌 头 部 机 构 目 前 已 分 别 确 定 在 十 余 个 城 市 落 地 大 型 音 乐 节 项 目 。  
今 年 , 尤 其 自 二 季 度 起 , 演 唱 会 和 音 乐 节 将 进 入 相 对 密 集 期 , 各 地 已 出 现 不 同 程 度 的 大 型 场 馆 排 期 紧 张 状 态 。 业 内 预 判 , 2023年 至 2024年 演 唱 会 市 场 的 竞 争 将 非 常 激 烈 。 |
||||
Useful To Me Not Useful To Me | |||||
|
|||||
n3wbie
Master |
15-Mar-2023 23:24
|
||||
x 0
x 0 Alert Admin |
And hopefully there is a recovery with their tv program business | ||||
Useful To Me Not Useful To Me | |||||
WBdisciple
Master |
15-Mar-2023 17:03
|
||||
x 0
x 0 Alert Admin |
Now is to await for GHY' s announcements on these Jay Chou' s concerts in China. Then, it will set the tone for their profitability |
||||
Useful To Me Not Useful To Me | |||||
tedlim
Senior |
15-Mar-2023 14:52
|
||||
x 0
x 0 Alert Admin |
Another one - 周 杰 伦 演 唱 会 重 启 - 票 还 没 抢 到 酒 店 已 涨 价 三 倍2023年 02月 25日 10:53  媒 体 滚 动
 
https://finance.sina.com.cn/jjxw/2023-02-25/doc-imyhwpew8385693.shtml 中 新 经 纬 &ldquo 我 已 经 太 久 没 有 看 过 演 唱 会 了 ! &rdquo 北 京 的 孙 女 士 在 得 知 自 己 喜 欢 的 周 杰 伦 、 五 月 天 即 将 开 演 唱 会 的 消 息 后 兴 奋 了 好 几 天 。 她 告 诉 中 新 经 纬 , 自 己 已 经 开 始 蹲 守 官 方 购 票 信 息 , 并 准 备 发 动 身 边 朋 友 , 一 起 重 启 线 下 追 星 之 路 。 随 着 线 下 大 型 演 唱 会 的 重 启 , 许 多 像 孙 女 士 一 样 的 消 费 者 重 燃 对 亲 临 现 场 的 渴 望 , 演 出 市 场 热 度 攀 升 , 并 拉 动 周 边 消 费 。 业 内 分 析 称 , 2023年 线 下 演 出 市 场 将 迎 来 复 苏 性 爆 发 。 &ldquo 周 杰 伦 效 应 &rdquo 拉 动 消 费 , 酒 店 瞬 间 溢 价
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
tedlim
Senior |
15-Mar-2023 14:50
|
||||
x 0
x 0 Alert Admin |
From China website sources..seems that strong pent-up demand (good for GHY):   周 杰 伦 来 了 ! 大 型 演 唱 会 &ldquo 复 活 &rdquo , 明 星 演 唱 会 门 票 秒 空 , 海 南 将 发 补 贴 https://www.stcn.com/article/detail/800821.html &ldquo 刚 准 备 好 李 荣 浩 演 唱 会 的 钱 , 周 杰 伦 又 要 来 了 &rdquo 。 2月 22日 , 周 杰 伦 将 在 浙 江 衢 州 开 演 唱 会 的 消 息 登 上 微 博 热 搜 。 虽 然 还 只 是 传 闻 , 但 不 少 歌 迷 兴 奋 之 情 溢 于 言 表 , 纷 纷 表 示 已 做 好 抢 票 准 备 。 衢 州 当 地 对 此 事 的 回 复 是 , 周 杰 伦 演 唱 会 有 可 能 , 但 部 分 场 地 资 源 正 在 沟 通 , 最 终 消 息 以 官 宣 为 准 。 周 杰 伦 衢 州 演 唱 会 虽 尚 未 敲 定 , 但 在 太 原 的 演 唱 会 已 有 了 确 切 的 消 息 。 |
||||
Useful To Me Not Useful To Me | |||||
TodaySgCny
Senior |
13-Mar-2023 12:55
|
||||
x 0
x 0 Alert Admin |
Holding small position for long term.Cheers. | ||||
Useful To Me Not Useful To Me | |||||
For_The_Next_Leg
Veteran |
13-Mar-2023 10:00
|
||||
x 0
x 0 Alert Admin |
$GHY Culture(XJB.SI) Did you catch this? the power of Jay chou - " revenue contribution (net of inter-segment elimination) from the Concert Production business segment of approximately $20.3 million in respect of two concert productions completed in FY2022. There was nil contribution from concert production in FY2021."
 
FY2023 will be very very interesting.
 
https://links.sgx.com/1.0.0/corporate-announcements/MMBF44SZS82TO3IT/7e7d101e621ccf7d220c29147d80a7156b649891bbff29302a2bf0a6bbda1691
|
||||
Useful To Me Not Useful To Me | |||||
n3wbie
Master |
06-Mar-2023 21:30
|
||||
x 0
x 0 Alert Admin |
I think for Jay Chou concert back in 2020, they made $10M net profit from that one tour in SG so was quite surprised that given the return of concerts as covid turns endemic, it did not contribute materially and slipped into a loss instead. If I am not wrong, they do JVs for Jay Chou concerts in China so they wouldnt get the full contributions but of course its a smaller piece of something larger
|
||||
Useful To Me Not Useful To Me | |||||
|
|||||
seemeyouhuat
Member |
06-Mar-2023 21:24
|
||||
x 0
x 0 Alert Admin |
probably because china leg haven' t start the asia, plus a few here and there doesn' t do much honestly
|
||||
Useful To Me Not Useful To Me | |||||
n3wbie
Master |
06-Mar-2023 20:41
|
||||
x 0
x 0 Alert Admin |
Just curious since Jay Chou concerts were in Dec 2022, why wasnt there much contributions to FY22 financials? I dont follow it close enough but thought that should have contributed positively. The tv production side of the business now seems to be a drag where it used to be one of the drivers... | ||||
Useful To Me Not Useful To Me | |||||
ozone2002
Supreme |
05-Mar-2023 18:26
|
||||
x 0
x 0 Alert Admin |
GHY super HUAT! Time to dble down https://www.8days.sg/entertainment/asian/jay-chou-china-concert-ticket-scalpers-756421 |
||||
Useful To Me Not Useful To Me | |||||
Joelton
Supreme |
01-Mar-2023 11:22
|
||||
x 0
x 0 Alert Admin |
GHY: Eyes Turnaround and Growth in FY2023 with China&rsquo s Reopening
 
&bull The Group recognised net foreign exchange loss of approximately S$8.8 million in the financial year ended 31 December 2022 (&ldquo FY2022&rdquo ) due to the appreciation of the Singapore Dollar against Chinese Renminbi
 
&bull The Group&rsquo s TV Program and Film Production business operations are expected to normalise in the financial year ending 31 December 2023 (&ldquo FY2023&rdquo ) with a good pipeline of content and upcoming drama and film productions
‐ Contract signings with customers were delayed in FY2022 due to COVID-19 measures in China
‐ Underscoring the Group&rsquo s in-house capabilities in producing high-quality dramas and films, its drama and film productions continue to achieve good ratings and viewership in FY2022
‐ Contract assets representing the Group&rsquo s right to consideration for TV drama and film productions in progress but unbilled, stood at approximately S$41.0 million as at 31 December 2022
 
&bull The Group&rsquo s Concert Production business has rebounded strongly with the relaxation of COVID-19 measures in the region in FY2022
‐ Tickets for Jay Chou&rsquo s concerts in Singapore were sold out and recognised in FY2022, while tickets sales for Jay Chou&rsquo s concerts in Malaysia and Australia, which are sold out as well, will be recognised in FY2023
‐ With the pent-up demand for concerts in the endemic phase of COVID-19, there are plans for the resumption of Jay Chou&rsquo s concerts in China as well as co-productions of concerts for other popular and well-known international artistes
 
&bull Generated net cash of approximately S$5.9 million from operating activities in FY2022 and as at 31 December 2022, the Group&rsquo s balance sheet remains healthy and robust with cash and cash equivalents of approximately S$36.8 million and net assets of approximately S$135.7 million
 
&bull A dividend of 0.10 Singapore cents per ordinary share in respect of FY2022 has been proposed despite a loss position in FY2022
 
&bull Resilient financial position with net working capital of approximately S$120.1 million to support organic and inorganic growth initiatives
 
&bull Anchored by its two core businesses of TV Program and Film Production and Concert Production, the Group continues to focus on monetising its portfolio of proprietary entertainment content and diversify its product offerings with interactive content and multi-level entertainment, including but not limited to short-form online videos and musicals
 
Commenting on GHY&rsquo s FY2022 results, Mr. Guo Jingyu (郭 靖 宇 ), Executive Chairman and Group CEO, said, &ldquo While we have proactively taken various initiatives to mitigate the overarching effects of the COVID-19 pandemic over the recent years, the foreign exchange loss recognised in FY2022 has been a key determinant in our financial performance.
 
Despite the challenges over the past year, we have achieved key business milestones that underpin GHY&rsquo s established track record and strong business fundamentals in producing high-quality entertainment content and products.
 
With China&rsquo s reopening and further easing of COVID-19 measures in the region, there is much to be optimistic about for FY2023, where we expect to see more growth opportunities with the pent-up demand for concerts and shifting consumer consumption trends for drama content.
 
Anchored by our two core businesses of TV Program and Film Production as well as Concert Production, we are also developing new monetisation opportunities in other growth adjacencies in the region.
 
Our business strategies and financial strength place us in a favourable position and we aim to return back to prepandemic profitability in the near term."  
|
||||
Useful To Me Not Useful To Me | |||||
WBdisciple
Master |
01-Mar-2023 09:12
|
||||
x 0
x 0 Alert Admin |
Let' s not forget pre-pandemic...their profit is about S$40 million...  | ||||
Useful To Me Not Useful To Me | |||||
tedlim
Senior |
01-Mar-2023 09:10
|
||||
x 0
x 0 Alert Admin |
GHY: Eyes Turnaround and Growth in FY2023 with China&rsquo s Reopening
 
&bull The Group recognised net foreign exchange loss of approximately S$8.8 million in the financial year ended 31 December 2022 (&ldquo FY2022&rdquo ) due to the appreciation of the Singapore Dollar against Chinese Renminbi
 
&bull The Group&rsquo s TV Program and Film Production business operations are expected to normalise in the financial year ending 31 December 2023 (&ldquo FY2023&rdquo ) with a good pipeline of content and upcoming drama and film productions
‐ Contract signings with customers were delayed in FY2022 due to COVID-19 measures in China
‐ Underscoring the Group&rsquo s in-house capabilities in producing high-quality dramas and films, its drama and film productions continue to achieve good ratings and viewership in FY2022
‐ Contract assets representing the Group&rsquo s right to consideration for TV drama and film productions in progress but unbilled, stood at approximately S$41.0 million as at 31 December 2022
 
&bull The Group&rsquo s Concert Production business has rebounded strongly with the relaxation of COVID-19 measures in the region in FY2022
‐ Tickets for Jay Chou&rsquo s concerts in Singapore were sold out and recognised in FY2022, while tickets sales for Jay Chou&rsquo s concerts in Malaysia and Australia, which are sold out as well, will be recognised in FY2023
‐ With the pent-up demand for concerts in the endemic phase of COVID-19, there are plans for the resumption of Jay Chou&rsquo s concerts in China as well as co-productions of concerts for other popular and well-known international artistes
 
&bull Generated net cash of approximately S$5.9 million from operating activities in FY2022 and as at 31 December 2022, the Group&rsquo s balance sheet remains healthy and robust with cash and cash equivalents of approximately S$36.8 million and net assets of approximately S$135.7 million
 
&bull A dividend of 0.10 Singapore cents per ordinary share in respect of FY2022 has been proposed despite a loss position in FY2022
 
&bull Resilient financial position with net working capital of approximately S$120.1 million to support organic and inorganic growth initiatives
 
&bull Anchored by its two core businesses of TV Program and Film Production and Concert Production, the Group continues to focus on monetising its portfolio of proprietary entertainment content and diversify its product offerings with interactive content and multi-level entertainment, including but not limited to short-form online videos and musicals
 
Commenting on GHY&rsquo s FY2022 results, Mr. Guo Jingyu (郭 靖 宇 ), Executive Chairman and Group CEO, said, &ldquo While we have proactively taken various initiatives to mitigate the overarching effects of the COVID-19 pandemic over the recent years, the foreign exchange loss recognised in FY2022 has been a key determinant in our financial performance.
 
Despite the challenges over the past year, we have achieved key business milestones that underpin GHY&rsquo s established track record and strong business fundamentals in producing high-quality entertainment content and products.
 
With China&rsquo s reopening and further easing of COVID-19 measures in the region, there is much to be optimistic about for FY2023, where we expect to see more growth opportunities with the pent-up demand for concerts and shifting consumer consumption trends for drama content.
 
Anchored by our two core businesses of TV Program and Film Production as well as Concert Production, we are also developing new monetisation opportunities in other growth adjacencies in the region.
 
Our business strategies and financial strength place us in a favourable position and we aim to return back to prepandemic profitability in the near term."  
|
||||
Useful To Me Not Useful To Me | |||||
spursfan
Elite |
28-Feb-2023 17:47
|
||||
x 0
x 0 Alert Admin |
FY2022 PRESS RELEASE https://links.sgx.com/1.0.0/corporate-announcements/MMBF44SZS82TO3IT/748268_G.H.Y%20-%20FY2022%20Results%20Press%20Release.pdf |
||||
Useful To Me Not Useful To Me | |||||
For_The_Next_Leg
Veteran |
24-Feb-2023 12:18
|
||||
x 0
x 0 Alert Admin |
$GHY Culture(XJB.SI) Despite the current hiccup as per press release, the opportunities for this company is huge in 2023 as China opens up and there are more concerts organised under Jay Chou. This can be inferred in the information below.
 
" contract signings with some customers under the TV Program and Film Production business segment were delayed in FY2022, due to the heightened COVID-19 measures in the PRC that begun in March 2022 and had continued until November 2022. While key terms may have been agreed in principle with customers, contract signing and production with some of the customers were delayed due to the heightened COVID-19 measures in the PRC during FY2022, which presented challenges in finalising these contracts, thereby resulting in a decrease in revenue contribution to the Group in FY2022."
 
https://links.sgx.com/1.0.0/corporate-announcements/I4N0JMC8930P7CV8/11f0604468bf6619b541dfd5c7644dcac7edf7aa7fbdcf605595c3a6815e2d73
|
||||
Useful To Me Not Useful To Me |