Value Investing in Asia, Oriental Value

Oriental Value

Value Investing in Asia

Equity Bottom-Up

Activation Group Holdings / Equity Bottom-Up

<ul><li>Activation Group (9919 HK) unveiled its first-half financial results for 2023 on August 10th, 2023.</li><li>In this article, we will provide an overview of Activation's performance during this period and share thoughts on its future prospects.</li><li>The Experiential Marketing segment recorded a full recovery, reaching RMB 280 million, surpassing the 2021 H1 level of RMB 276 million.</li></ul>

Activation Group (9919 HK) unveiled its first-half financial results for 2023 on August 10th, 2023.In this article, we will provide an overview of Activation's performance during this period and share thoughts on its future prospects.The Experiential Marketing segment recorded a full recovery, reaching RMB 280 million, surpassing the 2021 H1 level of RMB 276 million.

An Update on 2023H1 Results of Activation Group (9919 HK)

China

TuanChe Limited operates as a holding company. The Company, through its subsidiaries, offers an automotive e-commerce platform that focusing on car trading activities through auto shows and group-purchase events. TuanChe serves customers worldwide.

Crazy Sports Group Limited operates as a digital sports entertainment community operator. The Company provides provide online sports information, sports knowledge payment, event quiz, sports mobile games, online sports lottery tickets purchasing, and other services. Crazy Sports Group offers services in China.

Shandong Publishing & Media Co., Ltd offers publishing services. The Company publishes and sells books, textbooks, magazines, audio visuals, and other products. Shandong Publishing & Media also manufactures and sells papers.

Creative China Holdings Limited is program production company. The Company develops programs for television and online broadcasting, and event organization in PRC.

Phoenix New Media Ltd. is a new media company the provides premium content on an integrated platform across Internet, mobile and TV channels in China.  The Company enables consumers to access professional news and other information and share user-generated content on the Internet and through their mobile devices.

Tongdao Liepin Group operates as a online talent service platform. The Company offers online personal career files, online job search, online recruitment, talent solutions, and other related services. Tongdao Liepin Group also provides talent community network and other services.

Fangdd Network Group Ltd. provides real estate services. The Company offers buying, selling, and renting houses. Fangdd Network Group serves customers in China.

9F Inc provides IT services. The Company offers digital financial accounting platform for integrating and personalizing solutions. 9F serves customers in China.

A Metaverse Company operates entertainment businesses. The Company provides film and television investment, production, distribution, and other services. A Metaverse also produces textile products.

Lizhi Inc. provides an audio ecosystem platform. The Company develops an audio-based social networking product offering, including Tiya App, caters to users evolving interest in social interactions in real time online and enables users to connect with friends having similar interests, entertain, chat online, and share their daily lives through voices.

PT MNC Vision Networks Tbk. provides broadcasting services. The Company offers distribution of subscription television shows. MNC Vision Networks serves customers in Indonesia.

ARN Media Limited operates as a media and entertainment company. The Company owns and manages radio, outdoor, and digital assets. ARN Media offers content marketing and outdoor advertising services, as well as digital radio service, live events, sports opinion, and video platforms.

Sports Entertainment Group Limited provides digital broadcasting platform. The Company produces live and pre-recorded television programs and end-to-end live sport coverage for broadcasters. Sports Entertainment Group serves customers in Australia.

Harte-Hanks, Inc. owns and operates a direct marketing company that provides a full range of specialized, coordinated, and integrated direct marketing services to companies in a wide variety of industries.  The Company's customers are located in the United States and other countries.  Harte-Hanks also publishes shopper publications which are highly targeted advertising vehicles.

SEEC Media Group Limited, through its subsidiaries, provides advertising agency services.

Unith Ltd provides software solutions. The Company develops solutions that makes user-centric conversations in real time, with AI-powered digital humans. Unith serves customers worldwide.

PT Mahaka Radio Integra Tbk is a radio broadcasting company. The Company operates FM radio stations that primarily broadcast across Jakarta and Surabaya.

Jiading International Group Holdings Limited operates as a holding company. The Company, through its subsidiaries, provides advertising campaign planning service and production and sales of new energy vehicles. Jiading International Group Holdings conducts businesses in Hong Kong.

Design Milk Co Limited operates as an online e-commerce marketplace. The Company focuses on consumers for design and lifestyle goods, such as bags and accessories, watches, pillows, books, frames and mirrors, kitchen and dining, games, decor and lighting, dinnerware, pitchers, conditioner, baby oils, health supplements, jewelry, and apparels. Design Milk serves customers worldwide.

PT Mahaka Media Tbk operates media businesses. The Company daily newspapers, magazines and books; offers billboard advertising; produces online content and animations; and operates radio stations.

Activation Group Holdings Limited provides integrated marketing solutions. The Company offers experiential marketing, digital and brand communication, public relations services, and other services. Activation Group Holdings provides services in China.

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