Sep 25, 2025 6:00 AM Eastern Daylight Time Vecima Reports Q4 and Full-Year Fiscal 2025 Results Share Adjusted Gross Margin, Adjusted Earnings Per Share and Adjusted EBITDA do not have a standardized meaning under IFRS and therefore may not be comparable to similar measures provided by other issuers. Starting in Q4 fiscal 2025, we have changed our definition and calculation of Adjusted EBITDA and Adjusted Earnings Per Share. For a reconciliation of Adjusted Earnings Per Share, investors should refer to Vecim ...

Performance Overview - In 2024, the company achieved a total revenue of 9.79 billion yuan, a decrease of 1.37% compared to 2023 [2] - The net profit attributable to shareholders was 4.00 billion yuan, down 2.38% year-on-year [2] - In Q1 2025, the company reported a revenue of 2.35 billion yuan and a net profit of 1.17 billion yuan, reflecting a growth of 7.45% [3] Strategic Initiatives - The company is focused on a "value creation + value transmission" dual strategy to enhance market expectations and improve long-term investment value [4] - R&D investment for 2024 was maintained at over 40 million yuan, indicating a commitment to innovation [3] - The company has implemented a stable dividend policy, with a cumulative cash dividend of 6.20 billion yuan since its IPO [6] IPTV Business Development - IPTV basic business revenue reached 7.95 billion yuan in 2024, with a slight growth of 0.02% [8] - The number of effective IPTV users was 16.85 million, contributing to an additional revenue of 1.39 billion yuan from value-added services [8] - The company is enhancing user experience through new service offerings and partnerships with major telecom operators [8] Short Video and Micro-Drama Initiatives - The company is actively developing its micro-drama business, establishing a production base and launching various projects [10] - It has achieved significant recognition in the industry, being awarded multiple accolades for its micro-drama production capabilities [10] - The company is exploring diverse business models in the short video sector to ensure sustainable growth [10] Market Position and Future Outlook - The overall IPTV industry is experiencing stable growth, with the company maintaining a strong competitive position [9] - The deployment of new technologies and regulatory support is expected to drive further growth in the IPTV sector [10] - The company aims to leverage its large IPTV user base to enhance its short video business and expand its market reach [11]