On March 9, the TV broadcast announced on the Hong Kong Stock Exchange that its subsidiary, Shanghai Jade Oriental Communication Co., Ltd. (Jade Oriental), had entered into a business partnership with Taobao (an e-commerce platform in Mainland China owned and operated by Alibaba Group).。Under the partnership, Emerald Oriental will hold a series of live e-commerce broadcasts on Taobao platform through its official TVB Account, hosted by Hong Kong artists managed by the company.。

On March 7, 2023, Emerald Oriental held its first e-commerce live broadcast of such a program on Taobao.。The first live broadcast was hosted by TVB Artists from 6 p.m. to 12 midnight in the company's live studio in Hong Kong and generated total sales of RMB23.5 million (approximately HK $26.5 million) for the group.。The six-hour live show had more than 3.2 million total viewers and more than 4.85 million total views.。The products sold in the live program cover all kinds of consumer goods of mainland China, Hong Kong and international brands.。

In view of the widespread acceptance of live e-commerce as a retail and entertainment activity by consumers in Mainland China, the Group expects that the demand for its artists to host and hold such live e-commerce programmes will continue in the future.。In addition, the Company believes that the trust and credibility of the TVB brand in Mainland China makes the Group a unique online distribution channel for high-value consumer goods.。

The Board believes that live e-commerce offers the Group an opportunity to realize additional value from its artists and brands.。As a result, the Group will continue to work with Taobao and will work to develop similar partnerships with other mainland Chinese e-commerce platforms in the future.。

However, at the end of the announcement, the TV broadcast said that the group's live e-commerce activities in mainland China are still at an early stage and its future contribution to the group has not yet been determined.。

Affected by the announcement, television broadcasts, which were up more than 30% in early trading, plunged in the afternoon and ended with a decline of nearly 15%。

In response, Daiwa released a research report saying that Shanghai Jade Oriental Communication (TVBC), which has a 70% stake in TV broadcasting, has held its first live e-commerce broadcast on Taobao on March 7 since it established a strategic partnership with Taobao, with sales of 23.5 million yuan and 4.85 million people watching the six-hour live broadcast.。The group and Taobao plan to jointly conduct at least 48 live e-commerce broadcasts next year.。

Daiwa said it is still waiting for details such as a clear timetable, revenue model and profit to be announced in the results.。The group uses its brand value and rich artist resources to accelerate cross-border live e-commerce on the Taobao live platform, and has introduced powerful channels to monetize its content and artist resources in mainland China.。