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天威视讯上半年预亏超2350万,传统业务承压转型之路坎坷

Core Viewpoint - Tianwei Video (002238.SZ) is expected to report a net loss of between 23.5 million and 33.5 million yuan for the first half of the year, a significant decline from a profit of 10.77 million yuan in the same period last year, reflecting challenges in traditional broadcasting business and intense market competition [1][2]. Financial Performance - The projected net loss for the first half of the year is between 23.5 million and 33.5 million yuan, compared to a profit of 10.77 million yuan in the previous year, indicating a year-on-year change of -318.19% to -409.19% [2]. - For the full year 2024, the company reported total revenue of 1.303 billion yuan, a decrease of 11.82% from the previous year, and a net profit of -2.8095 million yuan, down 102.25% from 12.50704 million yuan [2]. Business Challenges - The decline in performance is attributed to reduced revenue and profit from core businesses such as cable television, broadband, and transmission fees, as well as a decrease in income from building coverage projects due to the impact of the real estate industry [2][3]. - The number of cable digital television users decreased to 1.1589 million as of June 30, 2024, down by 96,600 from the end of 2023, reflecting a shrinking demand for digital television [3]. Market Environment - The broadband market in Shenzhen is highly saturated with intense competition, limiting the potential for new user growth and affecting overall revenue from broadband services [3]. - The company is attempting to pivot towards new growth areas, including 5G services, but faces challenges such as content homogenization, insufficient competitiveness, and a lack of operational experience [3][4]. Strategic Initiatives - Tianwei Video is working to establish its data center business as a core pillar, although the industry is undergoing a transition and has not yet achieved scale efficiency [4]. - In the cloud and big data sector, the company has made efforts in technology development and market promotion, but faces fierce competition from leading internet companies, resulting in difficulties in expanding its cloud and big data business [4].