On September 4, 2026, Songcheng Entertainment released its semi-annual report for 2026, showing revenue of 962 million yuan and net profit of 347 million yuan in the first half of the year, a decrease of 11.43% and 14.38% respectively year-on-year. This was the second time in post-pandemic period that both revenue and net profit declined. The company attributed this to the transformation of the cultural and tourism market and insufficient consumer demand, which led to a decline in both visitor numbers and average spending per visit. Additionally, rigid costs exacerbated the profit decline. During the same period, Chairman Zhang Xian resigned, and Huang Hongming took over, aiming to separate content planning from management operations. The industry is generally facing aesthetic fatigue and homogeneous competition, and performance of competitors such as Shaanxi Tourism and Impression Dahongpao also declined significantly. Facing a cumulative decline of nearly 25% in stock price this year, the company stated that it had approximately 3.912 billion yuan in monetary funds. In the first half of the year, it had repurchased and cancelled 15.805 million shares, and there were no plans to acquire technology companies. In the future, the company will focus on upgrading existing assets, providing light-asset services, and leveraging AI to enhance the value per customer and efficiency of content iteration.
According to the semi-annual report for 2026 released by Songcheng Entertainment, revenue in the first half of the year was 962 million yuan, and net profit was 347 million yuan, a decrease of 11.43% and 14.38% respectively year-on-year. This is the second time in post-pandemic period that both revenue and net profit have declined. The company attributed this to the transformation of the cultural and tourism market and insufficient consumer demand, which led to a decline in both customer flow and per customer spending. Combined with rigid costs, profits decreased further. During the same period, Chairman Zhang Xian resigned, and Huang Hongming took over, aiming to separate content planning from management operations. The industry is generally facing aesthetic fatigue and homogeneous competition; performance of competitors such as Shaanxi Tourism and Impression Dahongpao also declined significantly. With stock prices falling by nearly 25% this year, the company stated that it had approximately 3.912 billion yuan in monetary funds. In the first half of the year, it had repurchased and cancelled 15.805 million shares, and currently has no plans to acquire technology companies. In the future, the company will focus on renovating existing assets, providing light-asset services, and using AI to enhance the value per customer and efficiency of content iteration.