9 July 2018
9 July 2018
VHQ Media Holdings Ltd reported that June 2018 Consolidated Revenue amounted to NTD 144.827 million, up 34.54%% YOY, representing a record-setting high.
YTD Jan-June 2018 accumulated revenue amounted to NTD 749.279 million, up 21.59% year on year.
VHQ further commented that the feature film post production has begun to enter the peak period of production, With swelling demand for high quality CGI content the post production the overall production budget has also increased substantially. This was one of the key growth drivers in maintaining double-digit revenue growth over the same period last year.
VHQ remains optimistic with regards to the financial results for the year, with the orderbook visibility stretching till 2H 2019.Following the announcement on 12 June 2018 pertaining to the acquisition of the remaining 14% stake in VHQ Beijing, going forward VHQ Beijing will be a wholly owned subsidiary of the Company. In 2017 the economic benefit generated from the acquisition of 32% stake in VHQ Beijing contributed NTD 1.32 in EPS for the year, riding on the growth in China Film Industry the cCompany is optimistic about its potential returns.
The Company leverage on its strengths to put its business on a continuous growth trajectory, market penetration in Advertising, Feature Films, Episodic Dramas consumed over the Internet and television in the Chinese market and further increase Company market share. Look out for some of VHQ feature film post production projects scheduled to be released this summer.
Looking ahead into 2018, VHQ maintains its optimism, mainly due to (1) VHQ Beijing will be a wholly owned subsidiary of the Company. (2) Target to complete acquisition of Jupiter Media by 3Q18; expected economic benefits of the extension into TV drama will become noticeable in the second half of the year. (3) The Company will continue to expand the operation scale of its post-production team, through the dual financing platforms in Taiwan and Hong Kong and source for new acquisition opportunities so as to add impetus to promote the growth of the Company.
VHQ was established in Singapore in 1987 as a post-production studio. In 2001, its then Managing Director lead an MBO exercise and recapitalised the company operates a network covering Asean. In 2013, VHQ China was launched to service the ever increasing volume of work, mainly feature films, which originated from China. In 2014, VHQ Media Holdings Ltd was incorporated and was listed in December 2015 on the Taipei Exchange (Ticker – VHQ-KY 4803). VHQ’s core business is in the production of visual effects, animation, motion graphics and post production services for commercials & feature films.
VHQ celebrates its 30th anniversary in 2017 with thriving facilities in Singapore, Malaysia, Indonesia, Taiwan and China.
For general enquiries, please contact:
Low Kok Wah
Tel: +886 2 2657 7886
For media enquiries, please contact:
Sarah Liu, Time Investor Relations
Tel: +886 932 949928