About SinoMedia
Since December 2022, China got back the production, operation and consumption on track from the lingering COVID-19 following the complete lifting of lockdowns. 2023, however, remained a challenging and uncertain year for global markets. Specifically, the sluggish recovery of the inactive global economy, fueled by the regional geopolitical conflicts and the high interest rate monetary policy, has further destabilized economic development, leaving a slower-than-expected market recovery.
Despite the over-3-year twists and turns amid the pandemic, China’s advertising industry has turned out to be a pickup in 2023. However, the implications of the pandemic for the consumer mix, consumer pattern and consumer behavior well went into the post-pandemic era, and many advertisers are persisting in the relatively conservative defensive principle for marketing budgets, which meant that the basis for a sustained recovery has yet to be consolidated.
Standing up to numerous uncertainties and operational pressures in the recovery and stabilizing the number of employees, we have leveraged on our market footprints over years to work hard to diversify our business segments. Staying committed to providing customers with quality creative products and communication services, the Group moved further towards the strategic direction centering on the inter-screen creative communication services. Meanwhile, we disposed certain investment properties during the year under review and saw significant gains in order to optimize the Group’s asset structure and unlock potential value for better efficiency of asset operations.
Relying on our strengths and experience in TV broadcasting, we stayed focused on our core competencies and customer-oriented products and services. To make it happen, we grew the market with innovative marketing strategies and media product portfolios in an effort to sustain our leadership in the TV advertising market. To follow the changing market trends, we optimized media resources to transform TV advertising into a deeper, full-service communication service. We enhanced the brand value of our clients through efficient communication of TV advertising and offered our clients one-stop solutions for brand positioning, visual creativity, communication strategies, media execution and effect evaluation.
Further leveraging its experience and capabilities in video content creation and brand communication, the Group made every effort in its content marketing business with video content development and production as its core by deeply integrating the brand communication and creative content. In the year under review, staying focused on the market demand of household consumption, we offered tailor-made content services to customers of all kinds. We helped customers realize their brand communication value through live interaction, short videos, content placement, program planning, animation development, promotional activities and other creative forms of content with characteristics. This, in turn, brought us more solid synergy between content marketing business and brand operation management.
In the digital marketing business, we leveraged the advantages of the internet media resource matrix to optimize advertising placement strategy and efficiency by integrating high-quality traffic through the intelligent advertising placement system. To do that, we continued to work on the internet integration service capabilities to enhance the placement effect of customers on the internet and brand influence through precise communication.
Facing the future, as a leading comprehensive media operation group in China, we will stay committed to innovation for better efficiency and business resilience and more market opportunities. We will work to accelerate the development of brand operation business in the FMCG for the diversification and resilience of the business portfolio by deepening the layout of the household consumption industry through the collaborative combination of creative communication and brand investment management business. Furthermore, we will also lay the foundation for business expansion and financial robustness through sound business philosophy and prudent financial management to secure high-quality and sustainable growth in a volatile market.
At last, on behalf of the Board, I would like to thank our shareholders, customers, business partners and employees for their unwavering support and contributions to the Group. Embracing this year, we will double down to expand the value of the business and deliver returns for all shareholders amid challenges.
Chen Xin
26 March 2024
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