Wasu Media Holding (000156.SZ) issued a profit warning, with a projected net profit for the year 2024 of 4.5 billion to 5.1 billion yuan, a decrease of 25.98% to 34.69%.

Wasu Media Holding (000156.SZ) released its 2024 performance forecast, expecting a net profit attributable to the shareholders of the listed company of 4.5 billion to 5.1 billion in 2024, a year-on-year decrease of 25.98% to 34.69%. In 2024, the company will focus on the theme of "winning at the turning point, laying the foundation for twenty years", actively promoting the integration of the "Five Fusion" of system, technology, media, fixed-mobile, and culture around its business plan. It will deepen the implementation of the five major plans: comprehensive "renewal" of the mass market, breakthrough "leap" in the government-enterprise market, vigorous "expansion" in the national market, phoenix-like rebirth of backward-enterprises, and synergistic cooperation of "mountains and rivers poetry road" in non-subsidiary companies. The company will focus on both reforms and innovations, development and security, and strengthening the foundation and transformation, actively cultivating new productive forces in the fields of smart broadcasting and digital economy, and promoting the sustainable high-quality development of the listed company. During the reporting period, the company expects that the main reasons for the decrease in net profit are the decline in revenue from digital TV business, a decrease in gross profit margin in some businesses, and an increase in research and development investment.