How can SMG operate efficiently with so many different types of media?
We must be clear about our abilities and our direction. We also must give consideration to our specific strengths. We have spared no effort in the new media field. Take IPTV as an example. We have obtained an operating license and have established a platform in collaboration with China Telecom and China Netcom. To some extent, we have become a virtual operator. Thus, we can do what others cannot. Does this mean that SMG is not involved in content production? We are involved in content production. It is unreasonable for a good media company to completely outsource content. One of the roles we play is content producer. The percentage of self-produced programs has increased in recent years. Take entertainment programs as an example. We used to purchase most of the programs, but we currently self-produce many of them. We also sell them to other TV stations and overseas media companies. SMG covers many areas. With which overseas media groups does SMG share similarities in terms of a profit-
