TVB (00511) shares fell more than 7%, trading down 7.13% at HK$2.28 at the time of writing, with a turnover of HK$6.32 million.

In its interim results for 2026, TVB reported revenue of HK$1.258 billion for the first half of the year, a 16% year-on-year decline. Gross profit reached HK$566 million, up 1% from the prior year. The company recorded a loss attributable to shareholders of HK$73.612 million, a 31.92% reduction from the previous period. Loss per share stood at HK$0.16.

According to the announcement, the revenue drop was mainly due to a decrease in business income from mainland China. Meanwhile, as the company continues to scale back loss-making activities such as e-commerce, television broadcasting revenue was also affected to a certain extent.

Looking ahead, supported by the sustained growth momentum in advertising revenue from the Greater Bay Area, the company expects terrestrial TV advertising revenue to maintain modest growth for the remainder of 2026. Additionally, digital advertising revenue is anticipated to keep a double-digit growth rate through the rest of the year. In the mainland China segment, driven by more co-produced drama projects, business performance is expected to improve in the second half of 2026.