Joy Spreader Announces 2021 Annual Results: Net Profit Up 76.41% to HK$245 Million

BEIJING, March 23, 2022 /PRNewswire/ -- Joy Spreader Group Inc. ("Joy Spreader" or the "Company", Stock Code: 06988.HK), a leader in new media performance-based marketing, announced its 2021 annual results on the evening of March 20. The results show that in 2021, Joy Spreader achieved operating revenue of HK$1.396 billion, an increase of 51.08% YoY. Net profit for the year stood at HK$245 million, an increase of 76.41% YoY.

The financial report shows that e-commerce related businesses have become an important revenue growth driver for the Company. In 2021, gross merchandise value (GMV) from such businesses reached HK$1.189 billion, a YoY increase of 100.32%. Among them, the marketing service via short-form videos (SFVs) on e-commerce platforms in China posted revenue of HK$288 million, 2.43 times of that in 2020; while the new marketing service targeting overseas SFV e-commerce platforms, since its launch in the fourth quarter of 2021, has made a significant breakthrough, achieving sales of HK$148 million.

At the same time, Joy Spreader is actively establishing a presence in the marketing business of creation and distribution of film, television, culture and entertainment content. In September 2021, the Company signed a comprehensive strategic cooperation agreement with Poly Film, an entertainment and culture firm under the aegis of the Chinese central government, to co-produce the winter sports special In the Name of Ice and Snow, which was simulcast on February 5, 2022, on seven major TV channels and three leading online video sites. The creation and airing of the special marks a milestone in the implementation of the cooperation between the two companies in facilitating the digital transformation of the film, culture and entertainment content industry.

The Company noted that it will continue to enhance its own content traffic, and leverage multi-channel networks (MCNs) as well as film, television, culture and entertainment content resources, for entry into the new media brand marketing sector in due course.

Joy Spreader's business plan once again highlights the strategic foresight of the Company, which provides strong support for its long-term, quality-focused growth.

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