Songcheng Performance:Growth driven by recovery from Hangzhou,others slow down in 1H17
Conference call takeaway with the management
Online show business - Management believes that entry barrier for livebroadcasting business will be higher after more tightening regulationfrom the government in 1H17. As the market leader, they are confidenton Six rooms' sustainable growth in the long term.
Offline show business - Management confirms the strategy of adding twoself-owned projects and one revenue share model every year for the next3-4years.
The company is in the process of establishing the second performanceshow theater for Lijiang and Sanya. The second theater is aimed forreleasing capacity issue during the peak season.
Management also updated on the upcoming offline projects' operationdate: Yangshuo in 1H18, Yichun in 2H17(Oct 2017), Xi'an in End-2018or Early 2019, Shanghai in Early 2019, Zhangjiajie in 1H19, Foshan andAustralia (Gold Coast) in 2020.