Group 1 - TVB is collaborating with mainland institutions to promote high-quality development of the cultural industry in the Greater Bay Area [1] - The company has established film production centers in Shenzhen and Guangzhou, creating a localized operational system from creative incubation to production [1] - TVB aims to deepen cooperation with various cities in the Greater Bay Area and produce quality works that showcase national development achievements [1] Group 2 - The Hong Kong government emphasizes that the cultural and creative industries are vital for economic growth and cultural exchange, enhancing soft power [2] - Hong Kong's unique position can further drive cultural innovation and talent exchange within the Greater Bay Area [2] - The government supports the promotion of outstanding films and cultural brands from the Bay Area to the global stage [2]

Core Viewpoint - TVB is facing significant challenges as it transitions from a period of prosperity to decline, with its traditional programming losing influence and viewership, leading to a search for new revenue streams such as group broadcasting [4][14]. Group 1: TVB's Current Situation - TVB has experienced a continuous decline in profitability since 2014, culminating in a loss of HKD 4.91 billion in 2024, marking seven consecutive years of losses [4][11]. - The company has attempted various self-rescue strategies, including partnerships with mainland Chinese platforms and the introduction of new programming formats [4][6]. - Despite some successes in collaboration with mainland platforms, the overall impact on TVB's core business remains limited, and the influence of Hong Kong dramas continues to wane [6][10]. Group 2: Group Broadcasting as a Strategy - Group broadcasting, a new form of live streaming featuring multiple hosts, is being explored by TVB as a potential revenue source, leveraging the popularity of its veteran actors [8][10]. - While group broadcasting has attracted attention and generated viewer engagement, it risks damaging the actors' reputations and does not address the fundamental issues facing TVB's traditional programming [10][12]. Group 3: Future Outlook - TVB is optimistic about the potential for recovery in 2025, projecting a significant increase in EBITDA compared to 2024, with hopes of returning to profitability [11][12]. - However, the company faces several challenges, including a weak advertising market, underperformance of its OTT streaming services, and uncertainty in the co-production market with mainland China [11][12][14]. - The success of TVB's recovery efforts will largely depend on the performance of its co-produced dramas and the ability to regain its competitive edge in content production [14].