Dasheng Times Cultural Investment Co Ltd

Dasheng Culture released its 2026 interim report, with total operating revenue of 154 million yuan, up 41.47% year on year, marking a second consecutive year of growth. Net profit attributable to the parent company was negative 38.8514 million yuan, with the loss widening year on year and decreasing by 5.124 million yuan compared with the same period last year. Net cash flow from operating activities was negative 65.1217 million yuan, an increase of 9.2899 million yuan year on year. The company's asset-liability ratio reached 104.24%, up 19.31 percentage points from the same period last year. Gross margin was 74.46%, up 4.50 percentage points year on year. Diluted earnings per share were negative 0.07 yuan, down 0.01 yuan year on year. Total asset turnover was 0.31 times, up 4.19% year on year, while inventory turnover fell 48.36% year on year.

Dasheng Culture disclosed its earnings forecast, expecting a net loss attributable to shareholders of 23 million to 36 million yuan in the first half of 2026, compared to a loss of 33.7274 million yuan in the same period last year. The net loss after deducting non-recurring items is expected to be 23.5 million to 36.5 million yuan, compared to a loss of 33.4984 million yuan a year earlier. The company stated that during the reporting period, revenue from main businesses such as film and television dramas and games achieved substantial growth compared to the same period last year. However, due to factors such as rising operating costs and promotional expenses year-on-year, a loss was incurred in the first half. Among these, the game publishing business saw increased investment and operating costs in the early stages for agency, channel, and team building, while the short drama business experienced significant revenue growth but overall sales expenses increased due to promotional spending.