Group 1 - Mango Excellent Media (SZ 300413) announced the convening of its 28th meeting of the fourth board of directors on August 21, 2025, via communication voting [1] - The company reviewed the proposal regarding the 2025 semi-annual report and its summary during the meeting [1] - For the year 2024, the revenue composition of Mango Excellent Media is as follows: new media platform operations account for 72.29%, media retail accounts for 18.47%, new media interactive entertainment content production accounts for 8.97%, and other industries account for 0.27% [1] Group 2 - As of the report, Mango Excellent Media has a market capitalization of 47.8 billion yuan [1]

Core Insights - Mango TV's revenue for the first half of 2025 was 5.964 billion yuan, a decrease of 14.31% year-on-year, while net profit attributable to shareholders was 763 million yuan, down 28.31% year-on-year [1][2] Financial Performance - Revenue breakdown: - Internet video business generated 4.883 billion yuan, down 1.5% - New media interactive entertainment content production earned 606 million yuan, down 4.34% - Content e-commerce revenue was 446 million yuan, down 67.09% - Other businesses saw revenue of 28.45 million yuan, up 127.69% [3][4] - Membership revenue reached 2.496 billion yuan, showing slight growth, while advertising revenue was 1.587 billion yuan, with a notable recovery in Q2 [5] - The company reported a net cash flow from operating activities of 460 million yuan, a significant improvement from a negative cash flow of 180 million yuan in the previous year [2] Strategic Initiatives - The company increased content and R&D investments despite a general industry trend of cost-cutting, leading to a rise in internet video business costs by 11.78% and R&D spending by 26.41% [2][6] - Mango TV plans to launch 1,179 micro-dramas, a nearly sevenfold increase from the previous year, and is adapting popular IPs into short dramas [7] - The company is also expanding its content e-commerce segment, with its subsidiary Xiaomang e-commerce achieving profitability for the first time [6] Market Position - As of June 2025, Mango TV had an average monthly active user count of 27.6 million, ranking third among major video platforms [5] - The company’s stock closed at 25.53 yuan per share, with a total market capitalization of 47.8 billion yuan [8]

Group 1 - The company reported a revenue of 5.964 billion yuan and a net profit of 763 million yuan for the first half of 2025, despite the industry trend of reducing content costs [1] - The company's internet video business costs increased by 11.78% year-on-year, while R&D investment grew by 26.41%, impacting short-term profits [1] - Membership revenue reached 2.496 billion yuan, showing slight growth, with monthly active users increasing by 14.24% year-on-year [1] Group 2 - The advertising revenue was 1.587 billion yuan, with a noticeable recovery in the second quarter compared to the first, although overall advertiser confidence remains cautious [1] - The operator business generated 800 million yuan in revenue, marking a year-on-year growth of approximately 7% [1] Group 3 - The company has significantly increased its micro-short drama offerings, launching 1,179 new titles, a nearly sevenfold increase compared to the previous year [2] - The IP derivative market is expanding, with a projected compound annual growth rate of over 15% from 2020 to 2024, and the company is leveraging this through its small e-commerce platform [2] - The small e-commerce platform achieved its first half-year profit, with a focus on high-margin products and a physical flagship store in Shanghai [2] Group 4 - The company is expanding into the anime and gaming sectors, utilizing its children's platform to build an anime ecosystem and launching a mini-game platform with over 100 demo games in development [3]

Core Viewpoint - Mango TV has shown strong performance in the first half of 2025, with significant growth in revenue and net profit, supported by favorable industry policies and innovative content strategies [1][2]. Group 1: Financial Performance - In the first half of 2025, Mango TV achieved operating revenue of 5.964 billion yuan and a net profit attributable to shareholders of 763 million yuan [1]. - The advertising business has rebounded, with a 21% year-on-year increase in the number of self-sourced brands, leading the growth among major platforms [3]. Group 2: Content Strategy and Market Position - Mango TV's market share in the variety show segment reached 36.5%, maintaining its position as the industry leader [2]. - The effective viewership of Mango TV's dramas increased by 69% year-on-year, indicating a strong upward trend in the drama segment [2]. - The implementation of the "Broadcasting 21 Measures" by the National Radio and Television Administration is expected to enhance content creation flexibility and commercial efficiency for Mango TV [2]. Group 3: User Engagement and Growth - The average monthly active users of Mango TV grew by 14.24% year-on-year, with over 280 million users in July, reflecting a 10.6% increase [3]. - The average daily usage time per user reached 128 minutes, ranking first among long video platforms [3]. Group 4: New Market Opportunities - Mango TV has accelerated its entry into the micro-short drama market, launching 1,179 micro-short dramas, a nearly sevenfold increase compared to the previous year [4]. - The company has established a strategic partnership with Hongguo platform to create a dual-platform revenue-sharing model through the "Guoguo Theater" project [4]. - The small Mango e-commerce platform has achieved its first half-year profit, leveraging IP derivatives to tap into the emotional consumption market [4][5].

Core Viewpoint - Mango TV has demonstrated resilience in its core business, achieving significant revenue growth and maintaining a strong market position despite industry challenges [1][5]. Financial Performance - In the first half of 2025, the company reported revenue of 5.964 billion yuan and a net profit of 763 million yuan [1]. - Membership revenue reached 2.496 billion yuan, showing growth that outperformed the industry [1]. - Advertising revenue was 1.587 billion yuan, with a noticeable recovery in the second quarter compared to the first [1]. - The operator segment generated 800 million yuan, marking a year-on-year growth of approximately 7% [1]. Content Strategy - The company has increased its investment in content and R&D, with content costs rising by 11.78% and R&D spending up by 26.41% [1]. - Mango TV's effective play volume for dramas grew by 69% year-on-year, with several shows achieving significant viewership milestones [3][4]. - The introduction of new policies by the National Radio and Television Administration is expected to enhance content creation flexibility and commercialization efficiency [4]. Market Position - Mango TV holds a 36.5% market share in the online variety show segment, maintaining its position as the industry leader [2]. - The platform's monthly active users reached over 280 million, a year-on-year increase of 10.6% [5]. - The company has successfully launched multiple hit shows, contributing to its strong market presence [3][5]. Innovation and New Initiatives - The company is expanding into micro-short dramas, with a significant increase in the number of productions [6][7]. - Mango TV has also ventured into the emotional consumption market through its Xiaomang e-commerce platform, achieving profitability for the first time in the reporting period [7][8]. - The focus on IP derivatives is expected to drive growth in the emotional consumption market, which is projected to exceed 2 trillion yuan by 2025 [8].

智通财经APP讯，芒果超媒(300413.SZ)发布2025年半年度报告，该公司营业收入为59.64亿元，同比减 少14.31%。归属于上市公司股东的净利润为7.63亿元，同比减少28.31%。归属于上市公司股东的扣除非 经常性损益的净利润为6.1亿元，同比减少33.15%。基本每股收益为0.41元。 上半年，公司实现营业收入59.64亿元，同比下降14.31%，主要是传统电商板块营业收入下降所致，核 心平台芒果TV营业收入相对稳定;归属于上市公司股东的净利润7.63亿元，同比下降28.31%，主要是持 续加大内容、研发投入导致互联网视频业务成本上升所致。 ...

格隆汇8月22日丨芒果超媒(300413.SZ)公布半年度报告，上半年，公司实现营业收入59.64亿元，同比下 降14.31%，主要是传统电商板块营业收入下降所致，核心平台芒果TV营业收入相对稳定；归属于上市 公司股东的净利润7.63亿元，同比下降28.31%，主要是持续加大内容、研发投入导致互联网视频业务成 本上升所致。 ...

本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记 载、误导性陈述或重大遗漏。 证券代码：300413 证券简称：芒果超媒 公告编号：2025-032 芒果超媒股份有限公司 2025 年半年度报告披露提示性公告 芒果超媒股份有限公司 2025 年半年度报告全文及其摘要于 2025 年 8 月 23 日在 中国证监会指定创业板信息披露网站巨潮资讯网公告。公司同步披露了 2025 年半年 度报告摘要英文版本，在对中英文文本的理解上发生歧义时，请以中文文本为准。敬 请广大投资者注意查阅。 特此公告。 芒果超媒股份有限公司董事会 2025 年 8 月 23 日 ...

法定代表人： 主管会计工作的负责人 ： 会计机构负责人： 非经营性资金占用及其他关联资金往来情况汇总表 2025年半年度 | 编制单位：芒果超媒股份有限公司 | | | | | | | | | | 单位：人民币万元 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 非经营性资金占用 | 资金占用方名称 | 占用方与上市公司的关联关系 | 上市公司核算的 会计科目 | 2025年期初 占用资金余额 | 2025年上半年度 占用累计发生金 | 2025年上半年度 占用资金的利息 | 2025年上半年度 偿还累计发生金 | 2025年6月期末 占用资金余额 | 占用形成原因 | 占用性质 | | | | | | | 额 （不含利息） | （如有） | 额 | | | | | 控股股东、实际控制人及其附 | | | | | | | | | | | | 属企业 | | | | | | | | | | | | 小 计 | | | | | | | | | | | | 前控股股东、实际控制人及其 | | | | | | | | | ...

公司经中国证券监督管理委员会《关于同意芒果超媒股份有限公 司向特定对象发行股票注册的批复》（证监许可〔2021〕2105 号） 核准，向特定对象发行 A 股股票 90,343,304 股，发行价格为 49.81 元 /股，募集资金总额为人民币 4,499,999,972.24 元，扣除发行费用（不 含增 值税 ）人 民币 14,207,871.04 元， 募集 资金 净额 为人 民币 4,485,792,101.20 元。上述募集资金于 2021 年 8 月 9 日全部到账，并 经天健会计师事务所（特殊普通合伙）验证并出具了天健验〔2021〕 2-29 号验资报告。 （二）募集资金使用情况及期末余额 2025 年半年度募集资金存放与使用情况专项报告 一、募集资金基本情况 （一）实际募集资金金额和资金到账情况 芒果超媒股份有限公司 1.募集配套资金到位情况 芒果超媒股份有限公司（以下简称"公司"）经中国证券监督管 理委员会《关于核准快乐购物股份有限公司向芒果传媒有限公司等发 行股份购买资产并募集配套资金的批复》（证监许可〔2018〕999 号） 核准，通过非公开发行方式发行股票 57,257,371 股，发行价 ...