China Ruyi Holdings Full Year 2023 Earnings: Beats Expectations

China Ruyi Holdings (HKG:136) Full Year 2023 Results

Key Financial Results

• Revenue: CN¥3.63b (up 175% from FY 2022).
• Net income: CN¥689.8m (down 13% from FY 2022).
• Profit margin: 19% (down from 60% in FY 2022).
• EPS: CN¥0.065 (down from CN¥0.084 in FY 2022).

All figures shown in the chart above are for the trailing 12 month (TTM) period

China Ruyi Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 169%.

The primary driver behind last 12 months revenue was the Content Production Business segment contributing a total revenue of CN¥2.23b (61% of total revenue). Notably, cost of sales worth CN¥2.47b amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to CN¥349.3m (74% of total expenses). Explore how 136's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 28% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Entertainment industry in Hong Kong.

Performance of the Hong Kong Entertainment industry.

The company's shares are down 10% from a week ago.

Risk Analysis

You still need to take note of risks, for example - China Ruyi Holdings has 3 warning signs we think you should be aware of.

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