View ValuationTelevision Broadcasts 将来の成長Future 基準チェック /36Television Broadcasts利益と収益がそれぞれ年間36%と7.4%増加すると予測されています。EPS は年間 増加すると予想されています。自己資本利益率は 3 年後に9.3% 35.9%なると予測されています。主要情報36.0%収益成長率35.93%EPS成長率Media 収益成長34.2%収益成長率7.4%将来の株主資本利益率9.30%アナリストカバレッジLow最終更新日08 Apr 2026今後の成長に関する最新情報分析記事 • Mar 29Earnings Miss: Television Broadcasts Limited Missed EPS By 7.1% And Analysts Are Revising Their ForecastsThe analyst might have been a bit too bullish on Television Broadcasts Limited ( HKG:511 ), given that the company fell...Major Estimate Revision • May 15Consensus EPS estimates upgraded to HK$0.24 loss, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from HK$3.50b to HK$3.43b. 2024 losses expected to reduce from -HK$0.61 to -HK$0.24 per share. Media industry in Hong Kong expected to see average net income growth of 46% next year. Consensus price target down from HK$6.60 to HK$5.50. Share price rose 8.3% to HK$3.77 over the past week.すべての更新を表示Recent updatesReported Earnings • Apr 28Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: HK$0.13 (up from HK$1.09 loss in FY 2024). Revenue: HK$3.19b (down 2.0% from FY 2024). Net income: HK$59.3m (up HK$550.3m from FY 2024). Profit margin: 1.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings.分析記事 • Mar 29Earnings Miss: Television Broadcasts Limited Missed EPS By 7.1% And Analysts Are Revising Their ForecastsThe analyst might have been a bit too bullish on Television Broadcasts Limited ( HKG:511 ), given that the company fell...Reported Earnings • Mar 26Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: HK$0.13 (up from HK$1.09 loss in FY 2024). Revenue: HK$3.19b (down 2.0% from FY 2024). Net income: HK$59.3m (up HK$550.3m from FY 2024). Profit margin: 1.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings.お知らせ • Mar 25Television Broadcasts Limited, Annual General Meeting, May 27, 2026Television Broadcasts Limited, Annual General Meeting, May 27, 2026.New Risk • Mar 15New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.お知らせ • Mar 12Television Broadcasts Limited to Report Fiscal Year 2025 Results on Mar 25, 2026Television Broadcasts Limited announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Mar 25, 2026お知らせ • Jan 21Television Broadcasts Limited Announces the Cessation of Eric Tsang Chi Wai as A Member of the Executive Committee, Effective 21 January 2026Television Broadcasts Limited announced that Eric Tsang Chi Wai ceased to be a member of the Executive Committee with effect from 21 January 2026.Reported Earnings • Aug 29First half 2025 earnings released: HK$0.23 loss per share (vs HK$0.33 loss in 1H 2024)First half 2025 results: HK$0.23 loss per share (improved from HK$0.33 loss in 1H 2024). Revenue: HK$1.50b (down 1.0% from 1H 2024). Net loss: HK$108.1m (loss narrowed 25% from 1H 2024). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.Buy Or Sell Opportunity • Aug 28Now 22% undervaluedOver the last 90 days, the stock has risen 19% to HK$3.80. The fair value is estimated to be HK$4.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has grown by 20%.お知らせ • Aug 15Television Broadcasts Limited to Report First Half, 2025 Results on Aug 27, 2025Television Broadcasts Limited announced that they will report first half, 2025 results on Aug 27, 2025分析記事 • Jul 03Television Broadcasts Limited's (HKG:511) Price In Tune With RevenuesThere wouldn't be many who think Television Broadcasts Limited's ( HKG:511 ) price-to-sales (or "P/S") ratio of 0.5x is...Reported Earnings • Apr 27Full year 2024 earnings released: HK$1.09 loss per share (vs HK$1.74 loss in FY 2023)Full year 2024 results: HK$1.09 loss per share (improved from HK$1.74 loss in FY 2023). Revenue: HK$3.26b (down 1.9% from FY 2023). Net loss: HK$491.0m (loss narrowed 36% from FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.Reported Earnings • Mar 27Full year 2024 earnings released: HK$1.09 loss per share (vs HK$1.74 loss in FY 2023)Full year 2024 results: HK$1.09 loss per share (improved from HK$1.74 loss in FY 2023). Revenue: HK$3.26b (down 1.9% from FY 2023). Net loss: HK$491.0m (loss narrowed 36% from FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.お知らせ • Mar 26Television Broadcasts Limited, Annual General Meeting, May 28, 2025Television Broadcasts Limited, Annual General Meeting, May 28, 2025.New Risk • Mar 21New major risk - Revenue and earnings growthEarnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.お知らせ • Mar 12Television Broadcasts Limited to Report Fiscal Year 2024 Results on Mar 26, 2025Television Broadcasts Limited announced that they will report fiscal year 2024 results on Mar 26, 2025お知らせ • Dec 04Television Broadcasts Limited Appoints Tsang Lai Chun as Executive DirectorThe board of directors of Television Broadcasts Limited announced the appointment of Ms. Tsang Lai Chun as Executive Director of the Company, with effect from 4 December 2024. Ms. Tsang, aged 72, was appointed as the Assistant General Manager (Drama Production) at TVB in 2016 and is a director of TVB, Staff & Artistes Fund for Charities Limited. Ms. Tsang is a highly esteemed management figure within the television industry. As the head of the drama division at TVB, she has consistently demonstrated strategic leadership in guiding her team to achieve optimal performance since she joined TVB in 1974. She has been instrumental in unearthing compelling narratives and nurturing talent in acting and production, combining these elements to create a series of influential and successful television works for TVB. Ms. Tsang's management and execution skills are fully evident in the series she has produced. Her productions are not only beloved by audiences but have also had a significant positive impact on TVB's brand image and commercial revenue. Save as disclosed in this paragraph, Ms. Tsang did not hold any other directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas or any other position in the Group. Ms. Tsang has a continuous service agreement (the Contract) with the Company as the Assistant General Manager (Drama Production). Ms. Tsang has also entered into a letter of appointment with the Company as an Executive Director for a term of three years commencing from 4 December 2024. In accordance with the articles of association of the Company, Ms. Tsang will hold office until the next following general meeting of the Company, and will then be eligible for election at the meeting. Upon her successful election at the meeting, she will be subject to retirement by rotation and re-election in accordance with the articles of association of the Company.New Risk • Oct 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Shareholders have been diluted in the past year (6.6% increase in shares outstanding).Reported Earnings • Aug 24First half 2024 earnings released: HK$0.33 loss per share (vs HK$0.93 loss in 1H 2023)First half 2024 results: HK$0.33 loss per share (improved from HK$0.93 loss in 1H 2023). Revenue: HK$1.51b (down 3.0% from 1H 2023). Net loss: HK$143.5m (loss narrowed 65% from 1H 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 20% per year.お知らせ • Aug 07Television Broadcasts Limited to Report Q2, 2024 Results on Aug 21, 2024Television Broadcasts Limited announced that they will report Q2, 2024 results on Aug 21, 2024お知らせ • Jul 26+ 1 more updateTelevision Broadcasts Limited Announces Management Changes, Effective 1 August 2024The Board of Television Broadcasts Limited announced that Mr. Desmond Chan Shu Hung has resigned from the position of the Acting Company Secretary of the Company with effect from 1 August 2024. Mr. Chan has confirmed to the Company that he has no disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange. Mr. Chan will continue to serve as the Deputy General Manager (Legal and International Operations) of the Company. Moving forward, Mr. Chan will be able to allocate more of his time and efforts towards the Company's international business and legal and regulatory matters, utilizing his expertise and experience in these areas. The Board also announced that Ms. Lee Lai Yi has been appointed as the Company Secretary of the Company with effect from 1 August 2024. Ms. Lee, who joined the Company in July 2023 as Assistant Company Secretary, has extensive experience in company secretarial and corporate compliance practices. She is an associate of The Chartered Governance Institute and The Hong Kong Chartered Governance Institute and has been awarded with the dual designations of Chartered Secretary and Chartered Governance Professional.New Risk • May 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Shareholders have been diluted in the past year (2.0% increase in shares outstanding).お知らせ • May 15Television Broadcasts Limited has filed a Follow-on Equity Offering in the amount of HKD 109.379289 million.Television Broadcasts Limited has filed a Follow-on Equity Offering in the amount of HKD 109.379289 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,743,836 Price\Range: HKD 3.36 Security Name: Shares Security Type: Common Stock Securities Offered: 20,000,000 Price\Range: HKD 4 Transaction Features: Subsequent Direct ListingMajor Estimate Revision • May 15Consensus EPS estimates upgraded to HK$0.24 loss, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from HK$3.50b to HK$3.43b. 2024 losses expected to reduce from -HK$0.61 to -HK$0.24 per share. Media industry in Hong Kong expected to see average net income growth of 46% next year. Consensus price target down from HK$6.60 to HK$5.50. Share price rose 8.3% to HK$3.77 over the past week.New Risk • May 14New major risk - Revenue and earnings growthEarnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 26% per year over the past 5 years.分析記事 • May 13Optimistic Investors Push Television Broadcasts Limited (HKG:511) Shares Up 28% But Growth Is LackingTelevision Broadcasts Limited ( HKG:511 ) shareholders would be excited to see that the share price has had a great...Reported Earnings • Apr 27Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: HK$1.74 loss per share (improved from HK$1.84 loss in FY 2022). Revenue: HK$3.32b (down 7.3% from FY 2022). Net loss: HK$762.8m (loss narrowed 5.5% from FY 2022). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.お知らせ • Mar 28Television Broadcasts Limited, Annual General Meeting, Jun 28, 2024Television Broadcasts Limited, Annual General Meeting, Jun 28, 2024. Location: TVB City, 77 Chun Choi Street, Tseung KwanOIndustrialEstate Kowloon Hong KongReported Earnings • Mar 28Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: HK$1.74 loss per share (improved from HK$1.84 loss in FY 2022). Revenue: HK$3.32b (down 7.3% from FY 2022). Net loss: HK$762.8m (loss narrowed 5.5% from FY 2022). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.Buy Or Sell Opportunity • Mar 28Now 27% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.5% to HK$3.08. The fair value is estimated to be HK$4.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.お知らせ • Mar 27Television Broadcasts Limited Announces Changes in Composition of the Board CommitteesThe Board of Directors of Television Broadcasts Limited announced the following changes in the composition of the Board Committees with effect from 27 March 2024: Audit Committee: Mr. Anthony Lee Hsien Pin ceased to be a member of the Audit Committee and Dr. Allan Zeman has been appointed as a new member of the Audit Committee. Following the above changes, the Audit Committee comprises three members, namely Dr. William Lo Wing Yan (chairman), Dr. Allan Zeman and Mr. Felix Fong Wo. Nomination Committee: Mr. Thomas Hui To ceased to be the chairman of the Nomination Committee, but remains as a member of the Nomination Committee. Mr. Felix Fong Wo, being the existing member of the Nomination Committee, has been appointed as the chairman of the Nomination Committee. Following the above changes, the Nomination Committee comprises five members, namely Mr. Felix Fong Wo (chairman), Mr. Thomas Hui To, Mr. Anthony Lee Hsien Pin, Dr. William Lo Wing Yan and Dr. Allan Zeman.お知らせ • Mar 14Television Broadcasts Limited to Report Fiscal Year 2023 Results on Mar 27, 2024Television Broadcasts Limited announced that they will report fiscal year 2023 results on Mar 27, 2024分析記事 • Mar 12A Look At The Intrinsic Value Of Television Broadcasts Limited (HKG:511)Key Insights Television Broadcasts' estimated fair value is HK$3.98 based on Dividend Discount Model Current share...Buy Or Sell Opportunity • Mar 05Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.3% to HK$3.11. The fair value is estimated to be HK$3.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.Buy Or Sell Opportunity • Jan 30Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to HK$3.05. The fair value is estimated to be HK$3.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.Buying Opportunity • Jan 17Now 22% undervaluedOver the last 90 days, the stock is up 5.9%. The fair value is estimated to be HK$3.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings is forecast to grow by 82% in the next 2 years.分析記事 • Jan 08Television Broadcasts Limited's (HKG:511) Shares May Have Run Too Fast Too SoonWith a median price-to-sales (or "P/S") ratio of close to 0.7x in the Media industry in Hong Kong, you could be...Buying Opportunity • Dec 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.1%. The fair value is estimated to be HK$3.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 80% in the next 2 years.分析記事 • Oct 27Why Television Broadcasts Limited (HKG:511) Could Be Worth WatchingTelevision Broadcasts Limited ( HKG:511 ), might not be a large cap stock, but it saw a decent share price growth in...Buying Opportunity • Oct 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 35%. The fair value is estimated to be HK$3.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 79% in the next 2 years.Buying Opportunity • Sep 21Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 36%. The fair value is estimated to be HK$3.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 79% in the next 2 years.分析記事 • Sep 11Health Check: How Prudently Does Television Broadcasts (HKG:511) Use Debt?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...New Risk • Aug 24New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change).お知らせ • Aug 10Television Broadcasts Limited to Report First Half, 2023 Results on Aug 23, 2023Television Broadcasts Limited announced that they will report first half, 2023 results on Aug 23, 2023お知らせ • Jun 01Television Broadcasts Limited Announces Retirement of Ms. Belinda Wong Ching Ying as an Independent Non-Executive Director of the CompanyTelevision Broadcasts Limited announced that at its Annual General Meeting held on May 31, 2023, the Board further announces that Ms. Belinda Wong Ching Ying retired as an Independent Non-executive Director of the Company with effect from the conclusion of the AGM in order to allocate more time for her other business commitments. Ms. Wong has confirmed that she has no disagreement with the Board, and that she is not aware of any matter relating to her retirement that needs to be brought to the attention of the Shareholders. Following the retirement of Ms. Wong at the conclusion of the AGM, the Board has three Independent Non-executive Directors out of a total of seven Directors which complies with Rule 3.10(1) and Rule 3.10A of the Listing Rules that require at least three independent non-executive directors, representing at least one-third of the Board.分析記事 • May 09Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Reported Earnings • Mar 29Full year 2022 earnings released: HK$1.84 loss per share (vs HK$1.48 loss in FY 2021)Full year 2022 results: HK$1.84 loss per share (further deteriorated from HK$1.48 loss in FY 2021). Revenue: HK$3.59b (up 24% from FY 2021). Net loss: HK$807.1m (loss widened 25% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.Board Change • Jan 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Non-Executive Director Kenneth Hsu was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Reported Earnings • Aug 25First half 2022 earnings released: HK$0.51 loss per share (vs HK$0.65 loss in 1H 2021)First half 2022 results: HK$0.51 loss per share (up from HK$0.65 loss in 1H 2021). Revenue: HK$1.82b (up 46% from 1H 2021). Net loss: HK$224.3m (loss narrowed 21% from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.分析記事 • Nov 17Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...Reported Earnings • Aug 27First half 2021 earnings released: HK$0.65 loss per share (vs HK$0.67 loss in 1H 2020)The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: HK$1.25b (up 1.8% from 1H 2020). Net loss: HK$283.5m (loss narrowed 3.3% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.Executive Departure • Jun 03Non-Executive Director Wen-Chi Chen has left the companyOn the 26th of May, Wen-Chi Chen's tenure as Non-Executive Director ended after 9.3 years in the role. We don't have any record of a personal shareholding under Wen-Chi's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 7.04 years.Executive Departure • May 27Executive Vice Chairman of the Board & Group CEO Po On Lee has left the companyOn the 27th of May, Po On Lee's tenure as Executive Vice Chairman of the Board & Group CEO of the company ended after 11.7 years in the role. As of March 2021, Po On personally held 438.00k shares (HK$4.2m worth at the time). Po On is the only executive to leave the company over the last 12 months. Under Po On's leadership, the company delivered a total shareholder return of -55%.Reported Earnings • Apr 24Full year 2020 earnings released: HK$0.64 loss per share (vs HK$0.67 loss in FY 2019)The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: HK$2.72b (down 25% from FY 2019). Net loss: HK$280.9m (loss narrowed 4.8% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.分析記事 • Mar 25Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...Reported Earnings • Mar 25Full year 2020 earnings released: HK$0.64 loss per share (vs HK$0.67 loss in FY 2019)The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: HK$2.72b (down 25% from FY 2019). Net loss: HK$280.9m (loss narrowed 4.8% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.Is New 90 Day High Low • Feb 12New 90-day high: HK$8.84The company is up 22% from its price of HK$7.27 on 13 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 37% over the same period.分析記事 • Feb 11How Many Television Broadcasts Limited (HKG:511) Shares Do Institutions Own?A look at the shareholders of Television Broadcasts Limited ( HKG:511 ) can tell us which group is most powerful...分析記事 • Dec 21A Look At Television Broadcasts' (HKG:511) Share Price ReturnsTelevision Broadcasts Limited ( HKG:511 ) shareholders should be happy to see the share price up 14% in the last month...Is New 90 Day High Low • Dec 15New 90-day high: HK$8.28The company is up 11% from its price of HK$7.43 on 16 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 3.0% over the same period.分析記事 • Nov 22Is Television Broadcasts (HKG:511) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Is New 90 Day High Low • Oct 21New 90-day low: HK$6.56The company is down 28% from its price of HK$9.10 on 23 July 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 14% over the same period.Is New 90 Day High Low • Sep 30New 90-day low: HK$6.74The company is down 28% from its price of HK$9.39 on 02 July 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 2.0% over the same period.Reported Earnings • Sep 18First half earnings releasedOver the last 12 months the company has reported total losses of HK$800.6m, with losses widening by 325% from the prior year. Total revenue was HK$2.91b over the last 12 months, down 31% from the prior year.業績と収益の成長予測SEHK:511 - アナリストの将来予測と過去の財務データ ( )HKD Millions日付収益収益フリー・キャッシュフロー営業活動によるキャッシュ平均アナリスト数12/31/20283,994272N/A490212/31/20273,738224N/A440212/31/20263,490190N/A607212/31/20253,19259220292N/A9/30/20253,218-198N/AN/AN/A6/30/20253,243-456N/AN/AN/A3/31/20253,251-473N/AN/AN/A12/31/20243,258-491187252N/A9/30/20243,267-495N/AN/AN/A6/30/20243,275-500-141-43N/A3/31/20243,299-631-217-99N/A12/31/20233,323-763-294-155N/A9/30/20233,324-876-282-122N/A6/30/20233,326-990-271-89N/A3/31/20233,456-898-374-196N/A12/31/20223,586-807-478-303N/A9/30/20223,528-697-522-347N/A6/30/20223,471-588-566-392N/A3/31/20223,185-617-525-347N/A12/31/20212,899-647-484-302N/A9/30/20212,822-459-379-212N/A6/30/20212,746-271-274-121N/A3/31/20212,735-276-206-45N/A12/31/20202,724-281-13931N/A9/30/20202,817-541-114107N/A6/30/20202,910-801-89184N/A3/31/20203,279-548166476N/A12/31/20193,649-295422768N/A9/30/20193,930-241N/A589N/A6/30/20194,212-188N/A410N/A3/31/20194,345-193N/A271N/A12/31/20184,477-199N/A131N/A9/30/20184,51138N/A274N/A6/30/20184,545275N/A418N/A3/31/20184,440259N/A250N/A12/31/20174,336244N/A82N/A9/30/20174,302306N/A180N/A6/30/20174,268368N/A279N/A3/31/20174,239399N/A551N/A12/31/20164,210429N/A823N/A9/30/20164,299467N/A949N/A6/30/20164,388505N/A1,074N/A3/31/20164,421250N/A1,130N/A12/31/20154,455-4N/A1,186N/A9/30/20154,554181N/AN/AN/A6/30/20154,654367N/A1,232N/Aもっと見るアナリストによる今後の成長予測収入対貯蓄率: 511の予測収益成長率 (年間36% ) は 貯蓄率 ( 3% ) を上回っています。収益対市場: 511の収益 ( 36% ) はHong Kong市場 ( 12.5% ) よりも速いペースで成長すると予測されています。高成長収益: 511の収益は今後 3 年間で 大幅に 増加すると予想されています。収益対市場: 511の収益 ( 7.4% ) Hong Kong市場 ( 8.6% ) よりも低い成長が予測されています。高い収益成長: 511の収益 ( 7.4% ) 20%よりも低い成長が予測されています。一株当たり利益成長率予想将来の株主資本利益率将来のROE: 511の 自己資本利益率 は、3年後には低くなると予測されています ( 9.3 %)。成長企業の発掘7D1Y7D1Y7D1YMedia 業界の高成長企業。View Past Performance企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/22 00:18終値2026/05/22 00:00収益2025/12/31年間収益2025/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Television Broadcasts Limited 2 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。17 アナリスト機関Ying ZhouBarclaysHau ChanBofA Global ResearchY. LeungCitigroup Inc14 その他のアナリストを表示
分析記事 • Mar 29Earnings Miss: Television Broadcasts Limited Missed EPS By 7.1% And Analysts Are Revising Their ForecastsThe analyst might have been a bit too bullish on Television Broadcasts Limited ( HKG:511 ), given that the company fell...
Major Estimate Revision • May 15Consensus EPS estimates upgraded to HK$0.24 loss, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from HK$3.50b to HK$3.43b. 2024 losses expected to reduce from -HK$0.61 to -HK$0.24 per share. Media industry in Hong Kong expected to see average net income growth of 46% next year. Consensus price target down from HK$6.60 to HK$5.50. Share price rose 8.3% to HK$3.77 over the past week.
Reported Earnings • Apr 28Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: HK$0.13 (up from HK$1.09 loss in FY 2024). Revenue: HK$3.19b (down 2.0% from FY 2024). Net income: HK$59.3m (up HK$550.3m from FY 2024). Profit margin: 1.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings.
分析記事 • Mar 29Earnings Miss: Television Broadcasts Limited Missed EPS By 7.1% And Analysts Are Revising Their ForecastsThe analyst might have been a bit too bullish on Television Broadcasts Limited ( HKG:511 ), given that the company fell...
Reported Earnings • Mar 26Full year 2025 earnings: EPS and revenues miss analyst expectationsFull year 2025 results: EPS: HK$0.13 (up from HK$1.09 loss in FY 2024). Revenue: HK$3.19b (down 2.0% from FY 2024). Net income: HK$59.3m (up HK$550.3m from FY 2024). Profit margin: 1.9% (up from net loss in FY 2024). The move to profitability was driven by lower expenses. Revenue missed analyst estimates by 5.1%. Earnings per share (EPS) also missed analyst estimates by 7.1%. Revenue is forecast to grow 7.0% p.a. on average during the next 2 years, compared to a 12% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 49% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings.
お知らせ • Mar 25Television Broadcasts Limited, Annual General Meeting, May 27, 2026Television Broadcasts Limited, Annual General Meeting, May 27, 2026.
New Risk • Mar 15New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. This is currently the only risk that has been identified for the company.
お知らせ • Mar 12Television Broadcasts Limited to Report Fiscal Year 2025 Results on Mar 25, 2026Television Broadcasts Limited announced that they will report fiscal year 2025 results at 4:00 PM, China Standard Time on Mar 25, 2026
お知らせ • Jan 21Television Broadcasts Limited Announces the Cessation of Eric Tsang Chi Wai as A Member of the Executive Committee, Effective 21 January 2026Television Broadcasts Limited announced that Eric Tsang Chi Wai ceased to be a member of the Executive Committee with effect from 21 January 2026.
Reported Earnings • Aug 29First half 2025 earnings released: HK$0.23 loss per share (vs HK$0.33 loss in 1H 2024)First half 2025 results: HK$0.23 loss per share (improved from HK$0.33 loss in 1H 2024). Revenue: HK$1.50b (down 1.0% from 1H 2024). Net loss: HK$108.1m (loss narrowed 25% from 1H 2024). Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 2% per year, which means it is significantly lagging earnings.
Buy Or Sell Opportunity • Aug 28Now 22% undervaluedOver the last 90 days, the stock has risen 19% to HK$3.80. The fair value is estimated to be HK$4.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 3.1% over the last 3 years. Earnings per share has grown by 20%.
お知らせ • Aug 15Television Broadcasts Limited to Report First Half, 2025 Results on Aug 27, 2025Television Broadcasts Limited announced that they will report first half, 2025 results on Aug 27, 2025
分析記事 • Jul 03Television Broadcasts Limited's (HKG:511) Price In Tune With RevenuesThere wouldn't be many who think Television Broadcasts Limited's ( HKG:511 ) price-to-sales (or "P/S") ratio of 0.5x is...
Reported Earnings • Apr 27Full year 2024 earnings released: HK$1.09 loss per share (vs HK$1.74 loss in FY 2023)Full year 2024 results: HK$1.09 loss per share (improved from HK$1.74 loss in FY 2023). Revenue: HK$3.26b (down 1.9% from FY 2023). Net loss: HK$491.0m (loss narrowed 36% from FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings.
Reported Earnings • Mar 27Full year 2024 earnings released: HK$1.09 loss per share (vs HK$1.74 loss in FY 2023)Full year 2024 results: HK$1.09 loss per share (improved from HK$1.74 loss in FY 2023). Revenue: HK$3.26b (down 1.9% from FY 2023). Net loss: HK$491.0m (loss narrowed 36% from FY 2023). Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings.
お知らせ • Mar 26Television Broadcasts Limited, Annual General Meeting, May 28, 2025Television Broadcasts Limited, Annual General Meeting, May 28, 2025.
New Risk • Mar 21New major risk - Revenue and earnings growthEarnings have declined by 18% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. This is currently the only risk that has been identified for the company.
お知らせ • Mar 12Television Broadcasts Limited to Report Fiscal Year 2024 Results on Mar 26, 2025Television Broadcasts Limited announced that they will report fiscal year 2024 results on Mar 26, 2025
お知らせ • Dec 04Television Broadcasts Limited Appoints Tsang Lai Chun as Executive DirectorThe board of directors of Television Broadcasts Limited announced the appointment of Ms. Tsang Lai Chun as Executive Director of the Company, with effect from 4 December 2024. Ms. Tsang, aged 72, was appointed as the Assistant General Manager (Drama Production) at TVB in 2016 and is a director of TVB, Staff & Artistes Fund for Charities Limited. Ms. Tsang is a highly esteemed management figure within the television industry. As the head of the drama division at TVB, she has consistently demonstrated strategic leadership in guiding her team to achieve optimal performance since she joined TVB in 1974. She has been instrumental in unearthing compelling narratives and nurturing talent in acting and production, combining these elements to create a series of influential and successful television works for TVB. Ms. Tsang's management and execution skills are fully evident in the series she has produced. Her productions are not only beloved by audiences but have also had a significant positive impact on TVB's brand image and commercial revenue. Save as disclosed in this paragraph, Ms. Tsang did not hold any other directorships in the last three years in public companies the securities of which are listed on any securities market in Hong Kong or overseas or any other position in the Group. Ms. Tsang has a continuous service agreement (the Contract) with the Company as the Assistant General Manager (Drama Production). Ms. Tsang has also entered into a letter of appointment with the Company as an Executive Director for a term of three years commencing from 4 December 2024. In accordance with the articles of association of the Company, Ms. Tsang will hold office until the next following general meeting of the Company, and will then be eligible for election at the meeting. Upon her successful election at the meeting, she will be subject to retirement by rotation and re-election in accordance with the articles of association of the Company.
New Risk • Oct 07New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 6.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Shareholders have been diluted in the past year (6.6% increase in shares outstanding).
Reported Earnings • Aug 24First half 2024 earnings released: HK$0.33 loss per share (vs HK$0.93 loss in 1H 2023)First half 2024 results: HK$0.33 loss per share (improved from HK$0.93 loss in 1H 2023). Revenue: HK$1.51b (down 3.0% from 1H 2023). Net loss: HK$143.5m (loss narrowed 65% from 1H 2023). Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 20% per year.
お知らせ • Aug 07Television Broadcasts Limited to Report Q2, 2024 Results on Aug 21, 2024Television Broadcasts Limited announced that they will report Q2, 2024 results on Aug 21, 2024
お知らせ • Jul 26+ 1 more updateTelevision Broadcasts Limited Announces Management Changes, Effective 1 August 2024The Board of Television Broadcasts Limited announced that Mr. Desmond Chan Shu Hung has resigned from the position of the Acting Company Secretary of the Company with effect from 1 August 2024. Mr. Chan has confirmed to the Company that he has no disagreement with the Board and that he is not aware of any matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company and the Stock Exchange. Mr. Chan will continue to serve as the Deputy General Manager (Legal and International Operations) of the Company. Moving forward, Mr. Chan will be able to allocate more of his time and efforts towards the Company's international business and legal and regulatory matters, utilizing his expertise and experience in these areas. The Board also announced that Ms. Lee Lai Yi has been appointed as the Company Secretary of the Company with effect from 1 August 2024. Ms. Lee, who joined the Company in July 2023 as Assistant Company Secretary, has extensive experience in company secretarial and corporate compliance practices. She is an associate of The Chartered Governance Institute and The Hong Kong Chartered Governance Institute and has been awarded with the dual designations of Chartered Secretary and Chartered Governance Professional.
New Risk • May 29New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Shareholders have been diluted in the past year (2.0% increase in shares outstanding).
お知らせ • May 15Television Broadcasts Limited has filed a Follow-on Equity Offering in the amount of HKD 109.379289 million.Television Broadcasts Limited has filed a Follow-on Equity Offering in the amount of HKD 109.379289 million. Security Name: Shares Security Type: Common Stock Securities Offered: 8,743,836 Price\Range: HKD 3.36 Security Name: Shares Security Type: Common Stock Securities Offered: 20,000,000 Price\Range: HKD 4 Transaction Features: Subsequent Direct Listing
Major Estimate Revision • May 15Consensus EPS estimates upgraded to HK$0.24 loss, revenue downgradedThe consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from HK$3.50b to HK$3.43b. 2024 losses expected to reduce from -HK$0.61 to -HK$0.24 per share. Media industry in Hong Kong expected to see average net income growth of 46% next year. Consensus price target down from HK$6.60 to HK$5.50. Share price rose 8.3% to HK$3.77 over the past week.
New Risk • May 14New major risk - Revenue and earnings growthEarnings have declined by 26% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Earnings have declined by 26% per year over the past 5 years.
分析記事 • May 13Optimistic Investors Push Television Broadcasts Limited (HKG:511) Shares Up 28% But Growth Is LackingTelevision Broadcasts Limited ( HKG:511 ) shareholders would be excited to see that the share price has had a great...
Reported Earnings • Apr 27Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: HK$1.74 loss per share (improved from HK$1.84 loss in FY 2022). Revenue: HK$3.32b (down 7.3% from FY 2022). Net loss: HK$762.8m (loss narrowed 5.5% from FY 2022). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 8.0% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.
お知らせ • Mar 28Television Broadcasts Limited, Annual General Meeting, Jun 28, 2024Television Broadcasts Limited, Annual General Meeting, Jun 28, 2024. Location: TVB City, 77 Chun Choi Street, Tseung KwanOIndustrialEstate Kowloon Hong Kong
Reported Earnings • Mar 28Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behindFull year 2023 results: HK$1.74 loss per share (improved from HK$1.84 loss in FY 2022). Revenue: HK$3.32b (down 7.3% from FY 2022). Net loss: HK$762.8m (loss narrowed 5.5% from FY 2022). Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) missed analyst estimates by 46%. Revenue is forecast to grow 4.6% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 28% per year, which means it has not declined as severely as earnings.
Buy Or Sell Opportunity • Mar 28Now 27% undervalued after recent price dropOver the last 90 days, the stock has fallen 2.5% to HK$3.08. The fair value is estimated to be HK$4.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 8.7% over the last 3 years. Earnings per share has declined by 37%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 88% in the next 2 years.
お知らせ • Mar 27Television Broadcasts Limited Announces Changes in Composition of the Board CommitteesThe Board of Directors of Television Broadcasts Limited announced the following changes in the composition of the Board Committees with effect from 27 March 2024: Audit Committee: Mr. Anthony Lee Hsien Pin ceased to be a member of the Audit Committee and Dr. Allan Zeman has been appointed as a new member of the Audit Committee. Following the above changes, the Audit Committee comprises three members, namely Dr. William Lo Wing Yan (chairman), Dr. Allan Zeman and Mr. Felix Fong Wo. Nomination Committee: Mr. Thomas Hui To ceased to be the chairman of the Nomination Committee, but remains as a member of the Nomination Committee. Mr. Felix Fong Wo, being the existing member of the Nomination Committee, has been appointed as the chairman of the Nomination Committee. Following the above changes, the Nomination Committee comprises five members, namely Mr. Felix Fong Wo (chairman), Mr. Thomas Hui To, Mr. Anthony Lee Hsien Pin, Dr. William Lo Wing Yan and Dr. Allan Zeman.
お知らせ • Mar 14Television Broadcasts Limited to Report Fiscal Year 2023 Results on Mar 27, 2024Television Broadcasts Limited announced that they will report fiscal year 2023 results on Mar 27, 2024
分析記事 • Mar 12A Look At The Intrinsic Value Of Television Broadcasts Limited (HKG:511)Key Insights Television Broadcasts' estimated fair value is HK$3.98 based on Dividend Discount Model Current share...
Buy Or Sell Opportunity • Mar 05Now 22% undervalued after recent price dropOver the last 90 days, the stock has fallen 4.3% to HK$3.11. The fair value is estimated to be HK$3.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.
Buy Or Sell Opportunity • Jan 30Now 21% undervalued after recent price dropOver the last 90 days, the stock has fallen 25% to HK$3.05. The fair value is estimated to be HK$3.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings are forecast to grow by 82% in the next 2 years.
Buying Opportunity • Jan 17Now 22% undervaluedOver the last 90 days, the stock is up 5.9%. The fair value is estimated to be HK$3.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 7.4% in 2 years. Earnings is forecast to grow by 82% in the next 2 years.
分析記事 • Jan 08Television Broadcasts Limited's (HKG:511) Shares May Have Run Too Fast Too SoonWith a median price-to-sales (or "P/S") ratio of close to 0.7x in the Media industry in Hong Kong, you could be...
Buying Opportunity • Dec 11Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 9.1%. The fair value is estimated to be HK$3.90, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 18% in 2 years. Earnings is forecast to grow by 80% in the next 2 years.
分析記事 • Oct 27Why Television Broadcasts Limited (HKG:511) Could Be Worth WatchingTelevision Broadcasts Limited ( HKG:511 ), might not be a large cap stock, but it saw a decent share price growth in...
Buying Opportunity • Oct 09Now 20% undervalued after recent price dropOver the last 90 days, the stock is down 35%. The fair value is estimated to be HK$3.89, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 79% in the next 2 years.
Buying Opportunity • Sep 21Now 21% undervalued after recent price dropOver the last 90 days, the stock is down 36%. The fair value is estimated to be HK$3.93, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Earnings per share has declined by 26%. Revenue is forecast to grow by 40% in 2 years. Earnings is forecast to grow by 79% in the next 2 years.
分析記事 • Sep 11Health Check: How Prudently Does Television Broadcasts (HKG:511) Use Debt?David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
New Risk • Aug 24New major risk - Financial positionThe company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (17% average weekly change).
お知らせ • Aug 10Television Broadcasts Limited to Report First Half, 2023 Results on Aug 23, 2023Television Broadcasts Limited announced that they will report first half, 2023 results on Aug 23, 2023
お知らせ • Jun 01Television Broadcasts Limited Announces Retirement of Ms. Belinda Wong Ching Ying as an Independent Non-Executive Director of the CompanyTelevision Broadcasts Limited announced that at its Annual General Meeting held on May 31, 2023, the Board further announces that Ms. Belinda Wong Ching Ying retired as an Independent Non-executive Director of the Company with effect from the conclusion of the AGM in order to allocate more time for her other business commitments. Ms. Wong has confirmed that she has no disagreement with the Board, and that she is not aware of any matter relating to her retirement that needs to be brought to the attention of the Shareholders. Following the retirement of Ms. Wong at the conclusion of the AGM, the Board has three Independent Non-executive Directors out of a total of seven Directors which complies with Rule 3.10(1) and Rule 3.10A of the Listing Rules that require at least three independent non-executive directors, representing at least one-third of the Board.
分析記事 • May 09Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Reported Earnings • Mar 29Full year 2022 earnings released: HK$1.84 loss per share (vs HK$1.48 loss in FY 2021)Full year 2022 results: HK$1.84 loss per share (further deteriorated from HK$1.48 loss in FY 2021). Revenue: HK$3.59b (up 24% from FY 2021). Net loss: HK$807.1m (loss widened 25% from FY 2021). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings.
Board Change • Jan 01Insufficient new directorsThere is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 6 experienced directors. 1 highly experienced director. Non-Executive Director Kenneth Hsu was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Reported Earnings • Aug 25First half 2022 earnings released: HK$0.51 loss per share (vs HK$0.65 loss in 1H 2021)First half 2022 results: HK$0.51 loss per share (up from HK$0.65 loss in 1H 2021). Revenue: HK$1.82b (up 46% from 1H 2021). Net loss: HK$224.3m (loss narrowed 21% from 1H 2021). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has fallen by 32% per year, which means it is performing significantly worse than earnings.
分析記事 • Nov 17Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtThe external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Reported Earnings • Aug 27First half 2021 earnings released: HK$0.65 loss per share (vs HK$0.67 loss in 1H 2020)The company reported a solid first half result with reduced losses, improved revenues and improved control over expenses. First half 2021 results: Revenue: HK$1.25b (up 1.8% from 1H 2020). Net loss: HK$283.5m (loss narrowed 3.3% from 1H 2020). Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has only fallen by 34% per year, which means it has not declined as severely as earnings.
Executive Departure • Jun 03Non-Executive Director Wen-Chi Chen has left the companyOn the 26th of May, Wen-Chi Chen's tenure as Non-Executive Director ended after 9.3 years in the role. We don't have any record of a personal shareholding under Wen-Chi's name. A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 7.04 years.
Executive Departure • May 27Executive Vice Chairman of the Board & Group CEO Po On Lee has left the companyOn the 27th of May, Po On Lee's tenure as Executive Vice Chairman of the Board & Group CEO of the company ended after 11.7 years in the role. As of March 2021, Po On personally held 438.00k shares (HK$4.2m worth at the time). Po On is the only executive to leave the company over the last 12 months. Under Po On's leadership, the company delivered a total shareholder return of -55%.
Reported Earnings • Apr 24Full year 2020 earnings released: HK$0.64 loss per share (vs HK$0.67 loss in FY 2019)The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: HK$2.72b (down 25% from FY 2019). Net loss: HK$280.9m (loss narrowed 4.8% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 64 percentage points per year, which is a significant difference in performance.
分析記事 • Mar 25Television Broadcasts (HKG:511) Is Making Moderate Use Of DebtDavid Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Reported Earnings • Mar 25Full year 2020 earnings released: HK$0.64 loss per share (vs HK$0.67 loss in FY 2019)The company reported a soft full year result with weaker revenues and control over costs, although losses reduced. Full year 2020 results: Revenue: HK$2.72b (down 25% from FY 2019). Net loss: HK$280.9m (loss narrowed 4.8% from FY 2019). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.
Is New 90 Day High Low • Feb 12New 90-day high: HK$8.84The company is up 22% from its price of HK$7.27 on 13 November 2020. The Hong Kong market is up 16% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Media industry, which is up 37% over the same period.
分析記事 • Feb 11How Many Television Broadcasts Limited (HKG:511) Shares Do Institutions Own?A look at the shareholders of Television Broadcasts Limited ( HKG:511 ) can tell us which group is most powerful...
分析記事 • Dec 21A Look At Television Broadcasts' (HKG:511) Share Price ReturnsTelevision Broadcasts Limited ( HKG:511 ) shareholders should be happy to see the share price up 14% in the last month...
Is New 90 Day High Low • Dec 15New 90-day high: HK$8.28The company is up 11% from its price of HK$7.43 on 16 September 2020. The Hong Kong market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 3.0% over the same period.
分析記事 • Nov 22Is Television Broadcasts (HKG:511) Using Too Much Debt?Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
Is New 90 Day High Low • Oct 21New 90-day low: HK$6.56The company is down 28% from its price of HK$9.10 on 23 July 2020. The Hong Kong market is flat over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 14% over the same period.
Is New 90 Day High Low • Sep 30New 90-day low: HK$6.74The company is down 28% from its price of HK$9.39 on 02 July 2020. The Hong Kong market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 2.0% over the same period.
Reported Earnings • Sep 18First half earnings releasedOver the last 12 months the company has reported total losses of HK$800.6m, with losses widening by 325% from the prior year. Total revenue was HK$2.91b over the last 12 months, down 31% from the prior year.