Can you do it this time?
On April 24, TV drama distribution company Litian Pictures Holdings Limited (hereinafter referred to as “Litian Pictures”) once again submitted a listing application to the main board of the Hong Kong Stock Exchange. Its initial listing application on October 23, 2019 has been If it fails, Founder Securities (Hong Kong) financing will continue to be its sole sponsor.
Litian Pictures was established in 2013. Its main business is the production and licensing of TV drama broadcast rights. Among them, TV drama buyout is its most important revenue pillar. In 2017 and 2018, its contribution to TV drama buyout Revenue accounted for more than 90% of the company’s total revenue, However, the growth trend of this sector is slowing. In 2019, Litian Film ’s revenue from buying out TV series accounted for the first time in total revenue was less than 90%, at 71.3%.
Source: Litian Film Prospectus
In terms of quantity, in 2017, 2018, and 2019, Litian Pictures released 32, 43, and 45 TV dramas, respectively. Proportion of the total number of broadcast TV shows about 90%, including “Starlight “Bright”, “Cross the ocean to love you”, “Undercover return”, “Bright days”. However, in 2019, it bought out only one TV series than the previous year, and the year-on-year growth rate was 31.92 percentage points lower than that in 2018.
