Mango Excellent Media Co., Ltd.

Mango Excellent Media Co., Ltd. is a state-owned enterprise listed on the ChiNext board of the Shenzhen Stock Exchange since 2015. It operates as a long video and new media platform, playing a significant role in the Hunan Broadcasting System's efforts to advance media convergence in alignment with national strategies. The company is recognized for its integration of traditional and new media, and it has established itself as a leading entity in the industry, focusing on the development of a digital, intelligent media group. The company's main business lines include the operation of Mango TV, which encompasses advertising, membership services, and partnerships with telecommunications and cable operators. Additionally, Mango Excellent Media is involved in new media interactive entertainment content production, creating a variety of programs and managing artist representation. Its content e-commerce division leverages media creativity to market and sell products through various digital channels. The company emphasizes an integrated ecosystem that combines media, culture, and technology, aiming to enhance user engagement and operational efficiency.

1. Platform advantages As a Party-controlled mainstream media outlet and state-owned cultural platform-based company, we inherit the media gene that “orientation is more precious than gold”, stick to the correct political direction, public opinion guidance and orientation of values, 10 Mango Excellent Media Co., Ltd. Annual Report 2024 adhere to the creation concept centering on people, build a strong ideological front, vigorously create a sound network ecosystem, and improve the communication and leaderships powers, influence and public credibility of mainstream public opinions. Our content ecosystem integrates with the communication system for social mainstream values and mainstream culture, and has precise insight, profound understanding and strong execution capability in mainstream propaganda. 2. Advantages in integration We vigorously promote the “two integration”, namely integrated development of new media and traditional media, and integrated development of culture and technology. We have successfully built an integrated ecosystem comprising Mango TV, Golden Eagle Cartoon, Xiaomang E-commerce and Hunan Satellite TV, which give full play to the effect of business synergy and resource integration, and effectively transform the advantages of media integration into drives for development. Meanwhile, we leverage the advantages of our technical team that takes the lead in the industry, enables content iteration through technological innovation, accelerates the integrated development of culture and technology, and fostering of new productive forces, to continuously enhance the new communication forces. 3. Institutional advantages Relying on our efficient and flexible market-oriented operating mechanism, we have continuously improved the management and operating efficiency of our platforms, introduced the innovative track manager regime, studio regime and other content team management regimes, and explored the optimal content production organization regimes; promoted the orderly and benign competition among internal teams through market-oriented talent flows, “H” type double talent channel management, young talent training project, among others; and used the “intelligent mid-end matrix” to build a content-technology-risk control-operation coordinated linkage mechanism, to further liberate the productive forces of content teams. 4. Advantages in innovation We have stuck to the creation concept of “innovate or die”, built a strong content team system, continuously secured core essential production factors, and firmly maintained our core competencies in content innovation. Mango TV and Hunan Satellite TV currently have 8 tracks running by content managers, 50 variety show production teams, thereby becoming one of China's leading long-form video content production and broadcasting organizations. By establishing the content innovation bidding system, innovating in creativity research, development and production chain or otherwise, we stimulate the teams’ creative power, and achieve rapid response and implementation in content innovation. 5. Advantages in users Mango TV sticks to the distinct content strategy and platform positioning of “youth, metropolis and women”, and realizes that our clear user base, fine content products and advertisers are linked and fit perfectly with each other. The overall user image of Mango TV is “vigor, fashion and quality”, among others, and its percentage of women users is higher than the average level of the industry. Clear user profile and platform positioning will enhance our special advantages in monetizing the brand value of our platform through multiple channels and in a variety of ways, and building the membership operation system. 6. Advantages in ecosystem Leveraging our advantages in proprietary content, we have built the synergistic and complementary closed loop of Mango new media ecosystem covering the entire industry chain of media and the Internet, where the upstream mainly includes artist agency and variety shows, film and TV drama, and children’s cartoon production business; the mid-stream is responsible for content operation through multiple channels provided by the online video platforms, in reliance on our strong content production capabilities and premium content matrix; and the downstream centers on offline location-based entertainment, parent-child amusement parks, live concerts and other derivative operations based on Mango family content IPs, creates a wholly new business model comprising “content + video + e-commerce”. 7. Advantages in licenses Mango TV is the sole market player in the Internet video industry that holds both IPTV and OTT business licenses, with its smart large-screen business covering 31 provincial regions in China, which is an important supporting point for us to develop living room economy. In reliance on our complete licenses, our video content business covers all terminals, including mobile phone, PAD, PC, IPTV and OTT. We are the first video media platform that has actually built “one cloud and multiple screens” system in the industry. As the Internet TV industry the high-quality development stage, the licenses held by us will further show our advantages. 8. Advantages in business model We firmly believe that content is the king, and have established a sustainable and sound business model. In reliance on our sound market-oriented operation mechanisms, we have continuously improved the efficiency of business innovation and risk control level, maximized the input-output ratio, and become a market player in the online video industry that has made profits for many years. We have gradually achieved economies of scale in content production through accurate user positioning, strong content production capabilities, and effective cluster of core production factors, and realized monetization of content through multiple channels, including membership, advertising, operator, ecommerce and IP derivatives businesses.