Beijing Gehua Catv Network (600037.SH) released a profit warning, expecting a net loss of 66.1699 million yuan to 99.2548 million yuan in 2024.

Beijing Gehua Catv Network (600037.SH) issued an announcement stating that, according to preliminary calculations by the finance department, the company expects to achieve a net loss attributable to the parent company's shareholders of -99.25 million to -66.16 million yuan in 2024, resulting in a deficit. The company also anticipates a net profit attributable to the parent company's shareholders excluding non-recurring gains and losses of -131.79 million to -98.70 million yuan in 2024. The main reasons for the anticipated loss in performance during the reporting period are an increase in asset impairment provisions compared to the same period last year, as well as a decline in the operating performance of joint ventures. Additionally, factors such as industry downturn and intensified market competition have led to a decrease in the company's basic cable TV subscription fees, channel distribution income, and advertising business income.