View ValuationTelevision Broadcasts 향후 성장Future 기준 점검 3/6Television Broadcasts (는) 각각 연간 36% 및 7.4% 수익과 수익이 증가할 것으로 예상됩니다. EPS는 연간 35.9% 만큼 성장할 것으로 예상됩니다. 자기자본이익률은 3년 후 9.3% 로 예상됩니다.핵심 정보36.0%이익 성장률35.93%EPS 성장률Media 이익 성장34.1%매출 성장률7.4%향후 자기자본이익률9.30%애널리스트 커버리지Low마지막 업데이트08 Apr 2026최근 향후 성장 업데이트분석 기사 • 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.모든 업데이트 보기Recent 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.분석 기사 • 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.공시 • 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.공시 • 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, 2026공시 • 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%.공시 • 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, 2025분석 기사 • 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.공시 • 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.공시 • 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, 2025공시 • 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.공시 • 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, 2024공시 • 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).공시 • 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.분석 기사 • 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.공시 • 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.공시 • 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.공시 • 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, 2024분석 기사 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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).공시 • 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, 2023공시 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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.분석 기사 • 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...분석 기사 • 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.분석 기사 • 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.이익 및 매출 성장 예측SEHK:511 - 애널리스트 향후 추정치 및 과거 재무 데이터 (HKD Millions)날짜매출이익자유현금흐름영업현금흐름평균 애널리스트 수12/31/20283,994272N/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/A더 보기애널리스트 향후 성장 전망수입 대 저축률: 511 의 연간 예상 수익 증가율(36%)이 saving rate(3%)보다 높습니다.수익 vs 시장: 511 의 연간 수익(36%)이 Hong Kong 시장(12.7%)보다 빠르게 성장할 것으로 예상됩니다.고성장 수익: 511 의 수입은 향후 3년 동안 상당히 증가할 것으로 예상됩니다.수익 대 시장: 511 의 수익(연간 7.4%)이 Hong Kong 시장(연간 8.7%)보다 느리게 성장할 것으로 예상됩니다.고성장 매출: 511 의 수익(연간 7.4%)은 연간 20%보다 느리게 증가할 것으로 예상됩니다.주당순이익 성장 예측향후 자기자본이익률미래 ROE: 511의 자본 수익률은 3년 후 9.3%로 낮을 것으로 예상됩니다.성장 기업 찾아보기7D1Y7D1Y7D1YMedia 산업의 고성장 기업.View Past Performance기업 분석 및 재무 데이터 상태데이터최종 업데이트 (UTC 시간)기업 분석2026/05/26 06:37종가2026/05/22 00:00수익2025/12/31연간 수익2025/12/31데이터 소스당사의 기업 분석에 사용되는 데이터는 S&P Global Market Intelligence LLC에서 제공됩니다. 아래 데이터는 이 보고서를 생성하기 위해 분석 모델에서 사용됩니다. 데이터는 정규화되므로 소스가 제공된 후 지연이 발생할 수 있습니다.패키지데이터기간미국 소스 예시 *기업 재무제표10년손익계산서현금흐름표대차대조표SEC 양식 10-KSEC 양식 10-Q분석가 컨센서스 추정치+3년재무 예측분석가 목표주가분석가 리서치 보고서Blue Matrix시장 가격30년주가배당, 분할 및 기타 조치ICE 시장 데이터SEC 양식 S-1지분 구조10년주요 주주내부자 거래SEC 양식 4SEC 양식 13D경영진10년리더십 팀이사회SEC 양식 10-KSEC 양식 DEF 14A주요 개발10년회사 공시SEC 양식 8-K* 미국 증권에 대한 예시이며, 비(非)미국 증권에는 해당 국가의 규제 서식 및 자료원을 사용합니다.별도로 명시되지 않는 한 모든 재무 데이터는 연간 기간을 기준으로 하지만 분기별로 업데이트됩니다. 이를 TTM(최근 12개월) 또는 LTM(지난 12개월) 데이터라고 합니다. 자세히 알아보기.분석 모델 및 스노우플레이크이 보고서를 생성하는 데 사용된 분석 모델에 대한 자세한 내용은 당사의 Github 페이지에서 확인하실 수 있습니다. 또한 보고서 활용 방법에 대한 가이드와 YouTube 튜토리얼도 제공합니다.Simply Wall St 분석 모델을 설계하고 구축한 세계적 수준의 팀에 대해 알아보세요.산업 및 섹터 지표산업 및 섹터 지표는 Simply Wall St가 6시간마다 계산하며, 프로세스에 대한 자세한 내용은 Github에서 확인할 수 있습니다.분석가 소스Television Broadcasts Limited는 17명의 분석가가 다루고 있습니다. 이 중 2명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.분석가기관Ying ZhouBarclaysHau ChanBofA Global ResearchY. LeungCitigroup Inc14명의 분석가 더 보기
분석 기사 • 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.
분석 기사 • 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.
공시 • 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.
공시 • 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
공시 • 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%.
공시 • 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
분석 기사 • 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.
공시 • 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.
공시 • 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
공시 • 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.
공시 • 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
공시 • 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).
공시 • 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.
분석 기사 • 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.
공시 • 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.
공시 • 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.
공시 • 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
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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).
공시 • 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
공시 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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.
분석 기사 • 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...
분석 기사 • 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.
분석 기사 • 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.