TVB shares hit three-year high after starting live-streaming e-commerce business
TVB shares hit three-year high after starting live-streaming e-commerce business

TVB shares hit three-year high after starting live-streaming e-commerce business

 

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Hong Kong broadcaster TVB’s parent company, Television Broadcasts Limited, continues surging on Wednesday, jumping as much as over 97% to hit HK$14.36 at one point, marking a new high in more than three years.

The rally brought the stock’s gains in the recent four trading days to more than 200% and increased its market value from HK$1.7 billion to HK$5.1 billion.

On March 1st, TVB announced that it reached partnership with Taobao through its subsidiary, Shanghai Fei Cui Dong Fang Communication, to jointly hold more than 48 live-streaming shows within the year, which is expected to bring TVB tens of millions of HKD dollars in revenue.

On March 7th, TVB held its first six-hour live-streaming on Taobao. According to data from TVB and Taobao, as of midnight on March 8th, the total sales during the live-streaming exceeded 23.5 million yuan, with over 3.2 million viewers and more than 4.85 million views, and the peak online audience exceeded 30,000.