Television Broadcasts Limited (電視廣播有限公司), known as TVB, was first established on November 19, 1967, as Hong Kong’s first wireless commercial television station, and today produces terrestrial broadcasting, drama, and digital media content distributed across mainland China and more than 40 other countries. The company is listed on the Stock Exchange of Hong Kong, trading under stock code 00511. TVB’s largest shareholder, Young Lion Holdings Limited, holds a 25 percent stake in the company through its subsidiary Shaw Brothers Limited, a stake jointly held under an agreement between Kenneth Hsu Kin and Li Ruigang (黎瑞剛), founder of mainland Chinese investment firm China Media Capital, according to TVB’s 2024 Annual Report. In May 2025, TVB’s Executive Chairman Thomas Hui To agreed to acquire Hsu’s shares in Young Lion Holdings, and Hsu resigned as a non-executive director, according to the South China Morning Post. Li remains a non-executive director on TVB’s board. TVB’s mainland China operations, which co-produce dramas and distribute programming to mainland broadcasters and streaming platforms, accounted for 26 percent of the company’s total revenue in 2024, according to the annual report for that year.