[Company Information](index=3&type=section&id=Company%20Information) This section outlines Metamedia Holdings Limited's basic information, including board members, committee compositions, key operational contacts, and registration details, showcasing its core management and operational framework [Company Basic Information and Governance Structure](index=3&type=section&id=Company%20Basic%20Information%20and%20Governance%20Structure) This section outlines Metamedia Holdings Limited's basic information, including board members, committee compositions, key operational contacts, and registration details, showcasing its core management and operational framework - Mr. Shao Zhong serves as Chairman and Chief Executive Officer, with the Board comprising three independent non-executive directors[5](index=5&type=chunk) - The company is registered in the Cayman Islands, with stock code **72** and website www.metamediahldg.com[6](index=6&type=chunk) [Management Discussion and Analysis](index=5&type=section&id=Management%20Discussion%20and%20Analysis) [Performance Overview](index=5&type=section&id=%E6%A5%AD%E7%B8%BE%E6%A6%82%E8%A6%81) For the six months ended June 30, 2025, Metamedia Holdings Limited achieved stable overall EBITDA performance amid a challenging global economic backdrop, driven by business model innovation and cost control, with profit growth in the digital platform business; excluding the one-off lease termination gain in H1 2024, the operating loss for the current period narrowed year-on-year H1 2025 Segment Performance Overview (RMB thousands) | Metric | Art Platform (2025) | Digital Platform (2025) | Total (2025) | Art Platform (2024) | Digital Platform (2024) | Total (2024) | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Reportable Segment Revenue (RMB thousands) | 84,886 | 84,802 | 169,688 | 97,497 | 63,969 | 161,466 | | Reportable Segment (Loss) / Profit (RMB thousands) | (29,541) | 17,992 | (11,549) | (19,193) | 7,895 | (11,298) | | Segment EBITDA (RMB thousands) | (21,840) | 23,048 | 1,208 | (7,249) | 15,735 | 8,486 | - In H1 2025, the Group's overall EBITDA was **RMB 1,208 thousand**, a decrease from **RMB 8,486 thousand** in H1 2024, but digital platform EBITDA increased from **RMB 15,735 thousand** to **RMB 23,048 thousand**, achieving profit growth[8](index=8&type=chunk) - The Group recorded a one-off lease termination gain in H1 2024 due to strategic transformation of its art spaces; excluding this non-recurring item, the operating loss for the current period narrowed year-on-year[8](index=8&type=chunk) [Business Review](index=6&type=section&id=%28A%29%20%E6%A5%AD%E5%8B%99%E5%9B%9E%E9%A1%A7) Over the past three decades, the Group successfully transformed from traditional media 'Modern Media' to 'Metamedia Holdings', continuously innovating in print publishing, digital platforms, and art marketing, now actively embracing AI technology to reconstruct the content industry chain, transitioning from PGC to UGC and AIGC, and expanding its international influence in the art market [Group Strategic Transformation and Development](index=6&type=section&id=%E9%9B%86%E5%9C%98%E6%88%B0%E7%95%A5%E8%BD%89%E5%9E%8B%E8%88%87%E7%99%BC%E5%B1%95) Since its renaming in 2022, Metamedia Holdings Limited has deepened its strategic direction of 'Art and Technology Reshaping the Future of Business', achieving a leap from traditional print media to 'smart media' by strengthening proprietary IPs, expanding into international art markets, launching the AI application 'Shao.ai', and developing a global online art website, aiming to connect Eastern and Western wisdom and promote the digitalization of the art market - In 2022, 'Modern Media' officially rebranded as 'Metamedia Holdings', marking a new development phase for the Group, committed to reshaping the future of business with art and technology[11](index=11&type=chunk)[12](index=12&type=chunk) - The Group has achieved a critical transformation from PGC (Professional Generated Content) to UGC (User Generated Content) and further to AIGC (Artificial Intelligence Generated Content), launching the AI application 'Shao.ai'[12](index=12&type=chunk)[13](index=13&type=chunk) - The Group is developing a global online art website aimed at connecting art enthusiasts, collectors, galleries, museums, and artists, thereby promoting the digitalization of the art market[13](index=13&type=chunk) [Digital Platform Business](index=7&type=section&id=%E6%95%B8%E7%A2%BC%E5%B9%B3%E5%8F%B0%E6%A5%AD%E5%8B%99) The Group's digital platform business revenue continues to grow, primarily from established mobile applications and website platforms such as 'iWeekly Weekend Pictorial', 'InStyle iLady', 'Bloomberg Businessweek Chinese Edition', and 'NOWNESS'; the 'NOWNESS' app has accumulated over **13 million** downloads, and its short film 'Stiff Neck' won the Golden Leopard for Best Short Film at the Locarno International Film Festival, showcasing its 'Global Vision, Local Culture' positioning and international influence - Digital platform revenue increased to varying degrees during the interim period, primarily from platforms such as 'iWeekly Weekend Pictorial', 'InStyle iLady', 'Bloomberg Businessweek Chinese Edition', and 'NOWNESS'[14](index=14&type=chunk) - The 'NOWNESS' application has accumulated over **13 million** downloads, and its Chinese team's short film 'Stiff Neck' won the Golden Leopard for Best Short Film at the Locarno International Film Festival[15](index=15&type=chunk) - The 'NOWNESS' Talent Project has successfully held six editions, aiming to discover and showcase the video works of China's new generation of filmmakers[16](index=16&type=chunk) [Art Platform Business](index=8&type=section&id=%E8%97%9D%E8%A1%93%E5%B9%B3%E5%8F%B0%E6%A5%AD%E5%8B%99) The Group's art platform business integrates brands with art through art marketing, enhancing brand taste and spiritual value; recently, the Group partnered with Art Basel Hong Kong, successfully hosted the inaugural Shanghai International Contemporary Photography Festival, and collaborated with the V&A Museum to present the 'Horst: Photographer of Style' exhibition; additionally, the Group is collaborating with Shanghai Zhangyuan to explore new models of commercial space and art integration, and continues to publish the 'Art Review' Top 100 Art Power list - The Group has established a media partnership with Art Basel Hong Kong, providing comprehensive communication support[18](index=18&type=chunk) - In May 2025, the Group successfully hosted the inaugural Shanghai International Contemporary Photography Festival (SICPF), themed 'The Era of Speaking Through Images', in collaboration with nearly **20** art institutions[19](index=19&type=chunk) - The Group is collaborating with Shanghai Zhangyuan to create an innovative business model integrating commerce and art, promoting a new trendy cultural lifestyle with the 'Space Zine' concept[21](index=21&type=chunk) [Business Outlook](index=10&type=section&id=%28B%29%20%E6%A5%AD%E5%8B%99%E5%B1%95%E6%9C%9B) Metamedia Holdings Limited's future vision is 'Beyond The Future', committed to reshaping the business future with art and technology, and reconstructing value with IP and ecosystems; the Group will fully implement the strategy of 'infusing art with AI technology and AI technology with art', and has launched the AI platform MC2; internationally, the Group plans to strengthen cooperation with Montgomery Group to host the Tokyo Contemporary Art Fair in September 2025 and expand into the Japanese market, aiming to become a global leading content enablement company - The Group's vision is 'Beyond The Future', advocating for new ideas, new technologies, and new actions to enter a new era, transforming itself into a trans-boundary and trans-cultural media group[23](index=23&type=chunk) - The Group's strategic choice and deployment is 'infusing art with AI technology and AI technology with art', and it officially launched the MC2 global website and social media platforms in July 2025, fully entering the intelligent AI era[24](index=24&type=chunk) - The Group plans to strengthen cooperation with Montgomery Group to host the Tokyo Contemporary Art Fair in September 2025 and actively expand into the Japanese market to enhance its international influence[25](index=25&type=chunk) [Dividends](index=12&type=section&id=%E8%82%A1%E6%81%AF) To conserve financial resources for market challenges, the Board does not recommend paying any interim dividend for the six months ended June 30, 2025 (nil for the corresponding period in 2024); the Board will consider a final dividend after assessing the full-year financial performance for 2025 - The Board does not recommend paying an interim dividend for H1 2025, consistent with H1 2024[28](index=28&type=chunk) - The Board will consider a final dividend after assessing the full-year financial performance for 2025[28](index=28&type=chunk) [Liquidity and Financial Resources](index=12&type=section&id=%E6%B5%81%E5%8B%95%E8%B3%87%E9%87%91%E5%8F%8A%E8%B2%A1%E5%8B%99%E8%B3%87%E6%BA%90) For the six months ended June 30, 2025, the Group recorded net cash inflow from operating activities of approximately **RMB 2,000 thousand** and net cash outflow

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 超媒體控股有限公司 ("本公司") 呈交日期: 2025年9月1日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00072 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 8,000,000,000 | HKD | | 0.01 | HKD | | 80,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 8,000,000,000 | HKD | | 0.01 | HKD | | 80,000,000 | 本月底 ...

Core Insights - Company reported a total operating revenue of 2.827 billion yuan, a decrease of 3.3785 million yuan compared to the same period last year, representing a year-on-year decline of 0.12% [1] - The net profit attributable to shareholders was 360 million yuan, with net cash inflow from operating activities at 264 million yuan, down 187 million yuan from the same period last year, a year-on-year decrease of 41.52% [1] Financial Metrics - The latest debt-to-asset ratio stands at 27.76% [3] - The latest gross profit margin is 23.30%, a decrease of 0.21 percentage points from the previous quarter and a decrease of 1.38 percentage points from the same period last year [3] - The latest return on equity (ROE) is 3.71%, ranking 15th among disclosed peers [3] - The diluted earnings per share are 0.44 yuan [3] - The latest total asset turnover ratio is 0.20 times, ranking 26th among disclosed peers, remaining flat compared to the same period last year but down 2.35% year-on-year [3] - The latest inventory turnover ratio is 1.07 times, ranking 22nd among disclosed peers [3]

Core Viewpoint - Super Media Holdings (00072) reported a mid-year performance for 2025, showing a revenue of approximately 169 million, representing a year-on-year growth of 5.19%. However, the company recorded a loss attributable to shareholders of 15.885 million, which is an increase of 6.38% compared to the previous year. The loss per share is 0.0362 yuan [1] Financial Performance - Revenue for the first half of 2025 is approximately 169 million, reflecting a growth of 5.19% year-on-year [1] - Loss attributable to shareholders is 15.885 million, which is a 6.38% increase year-on-year [1] - Loss per share stands at 0.0362 yuan [1]

Core Viewpoint - The company reported a revenue of RMB 169 million for the first half of 2025, reflecting a year-on-year growth of 5.19%, despite a loss of RMB 15.75 million during the same period, compared to a loss of RMB 13.99 million in the previous year [1] Financial Performance - Revenue for the first half of 2025 was RMB 169 million, up 5.19% year-on-year [1] - The company incurred a loss of RMB 15.75 million, compared to a loss of RMB 13.99 million in the same period last year [1] - Basic loss per share was RMB 0.0362 [1] Business Strategy and Market Conditions - The global economy faced multiple challenges, including recurring pandemic issues, geopolitical conflicts, and tightening monetary policies [1] - The company achieved stable overall EBITDA performance through innovation in business models and cost control [1] - The digital platform business showed a profit growth trend [1] Non-Recurring Items - The company underwent a strategic transformation in the art space in the first half of 2024, which generated a one-time lease termination gain [1] - Excluding this non-recurring item, the operating loss for the current period has narrowed year-on-year [1]

Group 1 - The company reported a revenue of approximately 169 million, representing a year-on-year increase of 5.19% [1] - The company experienced a loss attributable to shareholders of 15.885 million, which is a year-on-year increase of 6.38% [1] - The loss per share was recorded at 0.0362 yuan [1]

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) [Key Financial Data](index=1&type=section&id=Key%20Financial%20Data) Metamedia Holdings reported interim revenue of **RMB 168,949 thousands** and a **loss of RMB 15,752 thousands** for the six months ended June 30, 2025, with **no interim dividend recommended** Key Financial Data Summary | Metric | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Revenue** | 168,949 | 160,616 | | **Loss for the period** | (15,752) | (13,985) | | **Loss per share - basic and diluted** | RMB (0.0362) | RMB (0.0346) | - The Board does not recommend the payment of an **interim dividend** for the six months ended June 30, 2025 (2024: **nil**)[3](index=3&type=chunk) [Condensed Consolidated Financial Statements](index=2&type=section&id=Condensed%20Consolidated%20Financial%20Statements) [Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=2&type=section&id=Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) Group revenue grew **5.2% year-on-year**, but **loss for the period expanded to RMB 15,752 thousands**, driven by **increased operating loss** and **exchange differences** Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income Summary | Metric | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Revenue** | 168,949 | 160,616 | | **Cost of sales** | (106,203) | (101,008) | | **Gross profit** | 62,746 | 59,608 | | **Operating loss** | (12,099) | (7,276) | | **Finance Costs** | (3,343) | (5,970) | | **Loss for the period** | (15,752) | (13,985) | | **Total comprehensive expense for the period** | (21,272) | (11,522) | - Other comprehensive expense for the period was mainly affected by **exchange differences** arising from the translation of financial statements of overseas subsidiaries, changing from an income of **RMB 2,463 thousands** in 2024 to an expense of **RMB 5,520 thousands** in 2025[6](index=6&type=chunk) [Condensed Consolidated Statement of Financial Position](index=4&type=section&id=Condensed%20Consolidated%20Statement%20of%20Financial%20Position) Total assets and equity **decreased** as of June 30, 2025, with **net current assets significantly reduced** due to changes in receivables, payables, and borrowings Condensed Consolidated Statement of Financial Position Summary | Metric | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Non-current assets** | 274,516 | 280,528 | | **Current assets** | 275,265 | 314,716 | | **Current liabilities** | 271,782 | 300,815 | | **Net current assets** | 3,483 | 13,901 | | **Net assets** | 246,314 | 267,586 | | **Total equity** | 246,314 | 267,586 | - **Trade and other receivables** decreased from **RMB 185,231 thousands** as of December 31, 2024, to **RMB 148,771 thousands** as of June 30, 2025[7](index=7&type=chunk) - **Trade and other payables** decreased from **RMB 127,577 thousands** as of December 31, 2024, to **RMB 95,012 thousands** as of June 30, 2025[7](index=7&type=chunk) [Notes to the Condensed Consolidated Financial Statements](index=6&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) [General Information](index=6&type=section&id=General%20Information) Metamedia Holdings, incorporated in the Cayman Islands and listed in Hong Kong, operates **diversified businesses** including publishing, advertising, art, and catering - The Company was incorporated in the **Cayman Islands** on March 8, 2007, and its shares were listed on the **Main Board of the Hong Kong Stock Exchange** on September 9, 2009[9](index=9&type=chunk)[10](index=10&type=chunk) - The Group is primarily engaged in **magazine and periodical publishing, advertising agency services, digital publishing business, art trading and auction, art exhibitions and related education, and catering operations**[10](index=10&type=chunk) [Basis of Preparation](index=7&type=section&id=Basis%20of%20Preparation) These condensed financial statements adhere to **IAS 34** and **Listing Rules**, maintaining **consistent accounting policies** with the 2024 annual report - These **condensed consolidated financial statements** have been prepared in accordance with **International Accounting Standard 34 "Interim Financial Reporting"** and the applicable disclosure provisions of the **Listing Rules of the Stock Exchange**[11](index=11&type=chunk) - The **accounting policies and calculation methods** used in preparing these **condensed consolidated financial statements** are consistent with those used in the annual financial statements for the year ended December 31, 2024[11](index=11&type=chunk) [Adoption of New and Revised International Financial Reporting Standards](index=7&type=section&id=Adoption%20of%20New%20and%20Revised%20International%20Financial%20Reporting%20Standards) All new and revised IFRSs effective January 1, 2025, were adopted, causing **no significant changes** to accounting policies or reported amounts - The adoption of **new and revised International Financial Reporting Standards** has caused **no significant changes** to the Group's **accounting policies**, the preparation of the Group's financial statements, or the reported amounts for the current and prior periods[12](index=12&type=chunk) - The Group has not adopted any **new and revised International Financial Reporting Standards** that have been issued but are not yet effective, and is assessing their potential impact[12](index=12&type=chunk) [Revenue and Segment Reporting](index=8&type=section&id=Revenue%20and%20Segment%20Reporting) Performance of **Art and Digital Platforms** is assessed by revenue and adjusted EBITDA; **Digital Platform revenue grew**, **Art Platform revenue declined**, and total assets slightly decreased - The Group has two reportable segments: **Art Platform** (engaged in magazine, periodical, advertising agency, art trading and auction, art exhibitions and catering) and **Digital Platform** (engaged in digital publishing and advertising agency)[14](index=14&type=chunk) [Revenue by Product Line and Service Type](index=9&type=section&id=Revenue%20by%20Product%20Line%20and%20Service%20Type) **Digital Platform revenue grew 32.6% to RMB 84,802 thousands**, while **Art Platform revenue fell 13.0% to RMB 84,886 thousands**, driven by **advertising growth** Revenue by Reportable Segment | Reportable Segment | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | 84,886 | 97,497 | | **Digital Platform** | 84,802 | 63,969 | | **Total** | **169,688** | **161,466** | Revenue by Type of Goods or Services | Type of Goods or Services | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Advertising revenue** | 104,571 | 93,008 | | **Production, program and service revenue** | 59,147 | 59,806 | | **Distribution and subscription revenue** | 4,533 | 7,297 | | **Restaurant operating revenue** | 698 | 505 | | **Total** | **168,949** | **160,616** | - Regarding revenue recognition timing, the vast majority of revenue (**RMB 168,251 thousands**) is recognized over time[15](index=15&type=chunk) [Adjusted EBITDA](index=10&type=section&id=Adjusted%20EBITDA) **Digital Platform adjusted EBITDA grew 46.4% to RMB 23,048 thousands**, but **Art Platform's loss expanded**, significantly reducing overall adjusted EBITDA Adjusted EBITDA by Reportable Segment | Reportable Segment | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | (21,840) | (7,249) | | **Digital Platform** | 23,048 | 15,744 | | **Total** | **1,208** | **8,495** | [Segment Total Assets](index=11&type=section&id=Segment%20Total%20Assets) Group total assets **decreased to RMB 549,781 thousands** as of June 30, 2025, with both Art and Digital Platform segment assets declining Segment Total Assets Summary | Reportable Segment | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | 204,281 | 235,727 | | **Digital Platform** | 195,275 | 207,935 | | **Total** | **399,556** | **443,662** | | **Investment properties** | 77,960 | 77,960 | | **Cash and cash equivalents** | 34,852 | 37,820 | | **Total assets** | **549,781** | **595,244** | [Non-current Segment Asset Additions](index=12&type=section&id=Non-current%20Segment%20Asset%20Additions) Total non-current segment asset additions **increased to RMB 3,549 thousands**, primarily driven by **higher additions in the Art Platform** Non-current Segment Asset Additions | Reportable Segment | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | 2,391 | 240 | | **Digital Platform** | 1,158 | 2,232 | | **Total** | **3,549** | **2,472** | [Geographical Information](index=12&type=section&id=Geographical%20Information) The Group's non-current assets are primarily located across **China, Hong Kong, and the United Kingdom** - The geographical locations of the Group's **property, plant and equipment, right-of-use assets, investment properties, intangible assets, goodwill, investment in a joint venture, and software under development** are primarily in **China, Hong Kong and the UK**[19](index=19&type=chunk) [Other Income](index=12&type=section&id=Other%20Income) Other income significantly increased to **RMB 1,485 thousands**, primarily due to a **substantial rise in Chinese government subsidies** Other Income Sources | Source | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Chinese government subsidies** | 1,209 | 170 | | **Bank interest income** | 12 | 243 | | **Other** | 264 | 149 | | **Total** | **1,485** | **562** | - **Chinese government subsidies** refer to subsidies received by several of the Group's subsidiaries from local government authorities[20](index=20&type=chunk) [Other (Losses)/Gains - Net](index=13&type=section&id=Other%20(Losses)%2FGains%20-%20Net) The Group recorded a **net other loss of RMB 605 thousands**, contrasting with a prior year **net gain of RMB 7,203 thousands** due to **lease termination** Other (Losses)/Gains - Net Breakdown | Source | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Net gain/(loss) on disposal of property, plant and equipment** | 24 | (67) | | **Net gain on lease termination** | – | 8,189 | | **Exchange differences** | (629) | (919) | | **Total** | **(605)** | **7,203** | [Finance Costs](index=13&type=section&id=Finance%20Costs) Group finance costs significantly **decreased by 44.0% to RMB 3,343 thousands**, driven by **reduced interest on borrowings and lease liabilities** Finance Costs Breakdown | Source | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Interest expense on borrowings** | 3,089 | 3,897 | | **Finance costs on lease liabilities** | 221 | 1,466 | | **Total** | **3,343** | **5,970** | [Loss Before Income Tax](index=13&type=section&id=Loss%20Before%20Income%20Tax) **Loss before income tax expanded to RMB 15,626 thousands**, influenced by **reduced depreciation and amortization**, and a **reversal of expected credit loss provisions** Loss Before Income Tax Adjustments | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Depreciation of property, plant and equipment and right-of-use assets** | 7,924 | 12,439 | | **Amortisation of intangible assets** | 1,490 | 1,384 | | **Reversal of expected credit loss provision for trade receivables** | (1,732) | (1,461) | [Income Tax Expense](index=14&type=section&id=Income%20Tax%20Expense) Income tax expense was **RMB 126 thousands**, mainly for **China corporate income tax**, with **no provisions in Hong Kong and the UK** - The Company is **exempt from Cayman Islands income tax**[24](index=24&type=chunk) - **Hong Kong profits tax** is calculated at **16.5%**, but **no provision** has been made due to sufficient tax losses available for offset[25](index=25&type=chunk) - **China corporate income tax** provision for the period was **RMB 604 thousands** (2024: **RMB 602 thousands**), mainly for **withholding income tax** on service income received from Chinese subsidiaries[25](index=25&type=chunk)[27](index=27&type=chunk) [Loss Per Share](index=15&type=section&id=Loss%20Per%20Share) **Basic loss per share expanded to RMB (0.0362)**; **diluted loss per share remained the same** due to **no dilutive events** Loss Per Share Calculation | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Loss attributable to owners of the Company** | (15,885) | (14,933) | | **Weighted average number of ordinary shares (thousand shares)** | 438,353 | 431,994 | | **Basic loss per share** | RMB (0.0362) | RMB (0.0346) | - As there were **no dilutive events** for the six months ended June 30, 2025 and 2024, the **diluted loss per share** is the same as the **basic loss per share**[29](index=29&type=chunk) [Property, Plant and Equipment](index=15&type=section&id=Property,%20Plant%20and%20Equipment) The Group acquired **RMB 1,291 thousands in PPE** and recorded a **net gain of RMB 24 thousands from disposals** - For the six months ended June 30, 2025, the Group acquired **property, plant and equipment** items at a cost of approximately **RMB 1,291 thousands** (2024: approximately **RMB 1,027 thousands**)[30](index=30&type=chunk) - The Group disposed of certain **property, plant and equipment** with a net book value of approximately **RMB 113 thousands** (2024: **RMB 314 thousands**), recording a **net gain on disposal** of approximately **RMB 24 thousands** (2024: net loss of approximately **RMB 67 thousands**)[30](index=30&type=chunk) [Goodwill](index=16&type=section&id=Goodwill) Group goodwill **increased to RMB 37,349 thousands** due to **currency exchange differences**, primarily allocated to **Digital Platforms in China and the UK** Goodwill Movement and Allocation | Metric | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Beginning of period** | 36,648 | 36,615 | | **Currency exchange differences** | 701 | 33 | | **End of period** | 37,349 | 36,648 | Goodwill Allocation | Goodwill Allocation | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Digital Platform – China** | 28,203 | 28,203 | | **Digital Platform – UK** | 9,146 | 8,445 | | **Total** | **37,349** | **36,648** | - The **recoverable amount of goodwill** is determined using the **value-in-use method**, consistent with the method used as of December 31, 2024[31](index=31&type=chunk) [Trade and Other Receivables](index=17&type=section&id=Trade%20and%20Other%20Receivables) Total trade and other receivables **decreased to RMB 148,771 thousands**, with **reduced net trade receivables** and a **reversal of expected credit loss provisions** Trade and Other Receivables Summary | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Trade receivables** | 110,468 | 150,274 | | **Less: Expected credit loss provision** | (2,110) | (3,817) | | **Trade receivables - net** | 108,358 | 146,430 | | **Total other receivables** | 40,413 | 38,801 | | **Total** | **148,771** | **185,231** | Trade Receivables Aging Analysis | Trade Receivables Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Within 30 days** | 36,315 | 51,231 | | **Over 30 days and within 90 days** | 38,473 | 47,080 | | **Over 90 days and within 180 days** | 17,440 | 29,920 | | **Over 180 days and within one year** | 11,584 | 13,778 | | **Over one year** | 6,656 | 8,278 | | **Total** | **110,468** | **150,247** | - **Expected credit loss provision** decreased from **RMB 3,817 thousands** as of December 31, 2024, to **RMB 2,110 thousands** as of June 30, 2025, mainly due to a provision change of **RMB (1,732) thousands**[34](index=34&type=chunk) [Trade and Other Payables](index=19&type=section&id=Trade%20and%20Other%20Payables) Total trade and other payables **decreased to RMB 100,314 thousands**, with **reductions in trade payables and employee-related liabilities** Trade and Other Payables Summary | Item | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Trade payables** | 67,089 | 98,483 | | **Accrued taxes other than income tax** | 6,926 | 7,199 | | **Other payables** | 16,280 | 13,828 | | **Salaries, wages, bonuses and benefits payable** | 2,580 | 5,247 | | **Amount due to a director** | 6,071 | 1,195 | | **Other liabilities** | 1,368 | 1,625 | | **Total** | **100,314** | **127,577** | Trade Payables Aging Analysis | Trade Payables Aging | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Within 30 days** | 25,198 | 51,697 | | **Over 30 days and within 90 days** | 14,665 | 17,373 | | **Over 90 days and within 180 days** | 10,126 | 14,390 | | **Over 180 days** | 17,100 | 15,023 | | **Total** | **67,089** | **98,483** | - Of the **amount due to a director**, approximately **RMB 5,302 thousands** is secured, bears an **annual interest rate of 5%**, and is repayable within **3 years**, while the remainder is interest-free and repayable on demand[37](index=37&type=chunk) [Borrowings](index=20&type=section&id=Borrowings) Total borrowings reached **RMB 155,486 thousands**, mostly **secured bank loans**; a **covenant violation** allows banks to demand **immediate repayment** Borrowings by Type | Borrowings Type | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Secured bank borrowings** | 141,147 | 135,334 | | **Unsecured bank borrowings** | 13,541 | 12,391 | | **Secured other borrowings** | 798 | 1,948 | | **Total** | **155,486** | **151,012** | Borrowings Repayment Schedule | Repayment Terms | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Within one year or on demand** | 153,937 | 149,260 | | **In the second year** | 428 | 413 | | **In the third to fifth year** | 1,121 | 1,339 | | **Total** | **155,486** | **151,012** | - Borrowings are secured by certain properties with a **total book value of approximately RMB 176,146 thousands** and/or guaranteed by **Mr. Shao Zhong, his spouse, his son, the Company and/or its subsidiaries**[38](index=38&type=chunk) - For the six months ended June 30, 2025, the Group has **violated a covenant** of an interest-bearing borrowing, allowing the bank to demand **immediate repayment**[38](index=38&type=chunk) [Share Capital, Dividends and Reserves](index=21&type=section&id=Share%20Capital,%20Dividends%20and%20Reserves) Share capital remained **unchanged**; **no interim dividend was recommended** to **conserve financial resources** amid **market challenges** Share Capital Structure | Share Capital Type | Number of shares (thousand shares) | Share Capital (RMB thousands) | | :--- | :--- | :--- | | **Authorized: HK$0.01 per ordinary share** | 8,000,000 | 80,000 | | **Ordinary shares (issued and fully paid)** | 438,353 | 3,853 | - The Directors do not recommend the payment of any **interim dividend** for the six months ended June 30, 2025 and 2024[40](index=40&type=chunk) [Management Discussion and Analysis](index=22&type=section&id=Management%20Discussion%20and%20Analysis) Amid economic pressure, **stable overall EBITDA** was achieved through innovation and cost control, with **Digital Platform profit growth**; **operating loss narrowed** excluding a prior year one-off gain [Results Overview](index=22&type=section&id=Results%20Overview) Amid economic pressure, **stable overall EBITDA** was achieved through innovation and cost control, with **Digital Platform profit growth**; **operating loss narrowed** excluding a prior year one-off gain Reportable Segment Revenue | Segment | 2025 Reportable Segment Revenue (RMB thousands) | 2024 Reportable Segment Revenue (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | 84,886 | 97,497 | | **Digital Platform** | 84,802 | 63,969 | | **Total** | **169,688** | **161,466** | Segment EBITDA | Segment | 2025 Segment EBITDA (RMB thousands) | 2024 Segment EBITDA (RMB thousands) | | :--- | :--- | :--- | | **Art Platform** | (21,840) | (7,249) | | **Digital Platform** | 23,048 | 15,735 | | **Total** | **1,208** | **8,486** | - **Digital Platform** business showed **profit growth**, while **Art Platform loss expanded**[41](index=41&type=chunk) - Excluding the **one-off net gain on lease termination** from the strategic transformation of the art space business in H1 2024, the **operating loss for the current period has narrowed year-on-year**[41](index=41&type=chunk) [Business Outlook](index=23&type=section&id=Business%20Outlook) The Group is transforming into '**Intelligent Media**,' leveraging **AI**, global art platforms, **NOWNESS**, and strategic collaborations to expand markets and redefine value - The Group has been renamed "**Metamedia Holdings**", marking a new era of development and emphasizing the concept of "**No IP, No Business**", focusing on strengthening existing IPs and developing more sustainable commercial IPs[43](index=43&type=chunk) - The Group's strategic direction is to "**reshape the commercial future with art and technology**", driving the industry's transformation from **print media** to **intelligent media**, achieving a critical transition from **PGC** to **UGC** and then to **AIGC**, and launching the "**Shao.ai**" AI application[45](index=45&type=chunk)[46](index=46&type=chunk) - The short film "**Stiff Neck**" produced by the **NOWNESS China** team won the **Golden Leopard Award** for Best Short Film at the **Locarno International Film Festival**, affirming its positioning of "**Global Vision, Local Culture**"[50](index=50&type=chunk) - The Group has established a media partnership with **Art Basel Hong Kong** and hosted the inaugural **Shanghai International Contemporary Photography Festival (SICPF)**, adopting an "**Art Fair + Exhibition**" dual-track structure[53](index=53&type=chunk)[54](index=54&type=chunk) - The Group collaborated with **Shanghai Zhangyuan** to create a new intelligent art space, promoting a new trendy cultural lifestyle with the "**Space Zine**" concept, expected to become a **revenue-generating IP project** for the Group[56](index=56&type=chunk) - In July 2025, the **MC2** global website **MC2 · Art** and social media platforms officially launched, marking the Group's full entry into the **intelligent AI era**, focusing on **AI dynamic image art**[61](index=61&type=chunk) - The Group plans to strengthen cooperation with the **Montgomery Group** to host the **Tokyo Contemporary Art Fair** in September 2025, actively expanding into the **Japanese market** and enhancing the **influence** of "**Art Review**" and "**NOWNESS**" locally[62](index=62&type=chunk) [Events After June 30, 2025 and Up to the Date of This Announcement](index=29&type=section&id=Events%20After%20June%2030,%202025%20and%20Up%20to%20the%20Date%20of%20This%20Announcement) **No other significant events** affecting the Group occurred from June 30, 2025, up to the date of this announcement - No other **significant events** affecting the Group have occurred from June 30, 2025, up to the date of this announcement[65](index=65&type=chunk) [Dividends](index=29&type=section&id=Dividends) **No interim dividend was recommended** to **conserve financial resources**; a **final dividend** will be considered after **full-year 2025 performance assessment** - The Directors do not recommend the payment of any **interim dividend** for the six months ended June 30, 2025 (2024: **nil**)[66](index=66&type=chunk) - The Directors will consider the payment of a **final dividend** after assessing the **full-year 2025 financial performance**[66](index=66&type=chunk) [Liquidity and Financial Resources](index=29&type=section&id=Liquidity%20and%20Financial%20Resources) Liquidity as of June 30, 2025, showed **decreased operating cash inflow**, **increased investing cash outflow**, and a **slight rise in the gearing ratio** [Net Cash Flows](index=29&type=section&id=Net%20Cash%20Flows) **Net cash inflow from operating activities significantly decreased to RMB 2,000 thousands**, while **net cash outflow from investing activities increased** Net Cash Flows Summary | Cash Flow Type | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | **Net cash inflow from operating activities** | 2,000 | 5,864 | | **Net cash outflow from investing activities** | (3,377) | (2,327) | [Gearing Ratio](index=29&type=section&id=Gearing%20Ratio) The Group's **gearing ratio increased to 34.1%** as of June 30, 2025, up from **31.7%** at December 31, 2024 Gearing Ratio | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Gearing ratio** | **34.1%** | **31.7%** | - The **gearing ratio** is calculated as net debt divided by total capital at each reporting date, where total debt includes borrowings and lease liabilities[68](index=68&type=chunk) [Capital Expenditure and Commitments](index=30&type=section&id=Capital%20Expenditure%20and%20Commitments) **Capital expenditure primarily comprised property, plant and equipment expenses of RMB 1,291 thousands**, an **increase** from the prior period - The Group's **capital expenditure** during the interim period included **property, plant and equipment expenses** of approximately **RMB 1,291 thousands** (2024: approximately **RMB 1,027 thousands**)[69](index=69&type=chunk) [Capital Structure](index=30&type=section&id=Capital%20Structure) The Company's **capital structure remained unchanged**, comprising **ordinary shares and capital reserves**, with **working capital met by operations and borrowings** - During the interim period, the Company's **capital structure remained unchanged**. The Group's capital includes **ordinary shares and capital reserves**[70](index=70&type=chunk) - The Group meets its **working capital needs** through **operating funds and bank borrowings**[70](index=70&type=chunk) [Contingent Liabilities and Pledged Assets](index=30&type=section&id=Contingent%20Liabilities%20and%20Pledged%20Assets) Borrowings were **secured by properties totaling RMB 176,146 thousands** and/or **guaranteed by Mr. Shao Zhong, his associates, and Group entities** - Other than corporate guarantees, as of June 30, 2025, the Group had **no significant contingent liabilities or guarantees**[71](index=71&type=chunk) - Borrowings are secured by certain properties with a **total book value of approximately RMB 176,146 thousands** (including **investment properties** of approximately **RMB 77,960 thousands** and **property, plant and equipment** of approximately **RMB 98,186 thousands**)[71](index=71&type=chunk) - The collateral and/or guarantors include **Mr. Shao Zhong, his spouse, his son, the Company and/or its subsidiaries**[71](index=71&type=chunk) [Foreign Currency Risk](index=30&type=section&id=Foreign%20Currency%20Risk) Operating in **China, Hong Kong, and the UK**, the Group's transactions are mainly in **RMB, HKD, or GBP**, with **no significant foreign currency risk** - The Group operates primarily in **China, Hong Kong and the UK**, with most transactions denominated and settled in **RMB, HKD or GBP**[72](index=72&type=chunk) - As of June 30, 2025, the Group faced **no significant foreign currency risk** from its operations[72](index=72&type=chunk) [Employees](index=31&type=section&id=Employees) The Group had **394 employees** as of June 30, 2025, with **salaries and benefits determined by market wages, national policies, and performance** Employee Headcount | Metric | June 30, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Employee headcount** | 394 employees | 388 employees | - **Salaries and benefits** for **employees** are determined based on **market wages, national policies and individual performance**[73](index=73&type=chunk) [Purchase, Sale or Redemption of the Company's Listed Securities](index=31&type=section&id=Purchase,%20Sale%20or%20Redemption%20of%20the%20Company's%20Listed%20Securities) Neither the Company nor its subsidiaries purchased, sold, or redeemed any **listed securities**, and **no treasury shares were held** - During the interim period, neither the Company nor its subsidiaries purchased, sold, or redeemed any of the Company's **listed securities**[74](index=74&type=chunk) - As of June 30, 2025, the Company held **no treasury shares**[74](index=74&type=chunk) [Corporate Governance](index=31&type=section&id=Corporate%20Governance) The Company maintains **high corporate governance**, with the **Chairman and CEO's dual role enhancing efficiency** and a **strong independent board ensuring power balance** - The Company has applied the principles and complied with the code provisions of Part 2 of the **Corporate Governance Code in Appendix C1 of the Listing Rules**, except for not segregating the roles of Chairman and Chief Executive Officer as per Code Provision C.2.1[75](index=75&type=chunk) - **Mr. Shao Zhong** serves as the Group's **Chief Executive Officer and Chairman of the Board**, and the Board believes this **dual role enhances business strategy execution and operational efficiency**[75](index=75&type=chunk) - The Board comprises experienced and high-caliber individuals, with three of its six members being **independent non-executive directors**, ensuring a **balance of power and authority**[76](index=76&type=chunk) [Audit Committee](index=32&type=section&id=Audit%20Committee) The **Audit Committee**, comprising three **independent non-executive directors**, reviewed interim results and found **no disagreement with accounting treatments** - The **Audit Committee** comprises three **independent non-executive directors**: **Mr. Yick Wing Fat, Peter** (Chairman), **Ms. Wei Wei, and Mr. Wan Jie**[77](index=77&type=chunk) - The **Audit Committee** has reviewed the Group's unaudited **interim consolidated results** for the six months ended June 30, 2025, and has **no disagreement with the accounting treatments** adopted by the Company[77](index=77&type=chunk) [Remuneration Committee](index=32&type=section&id=Remuneration%20Committee) The **Remuneration Committee**, comprising three **independent non-executive directors**, recommends **director remuneration policies** and determines **specific packages** - The **Remuneration Committee** comprises three **independent non-executive directors**: **Mr. Yick Wing Fat, Peter** (Chairman), **Ms. Wei Wei, and Mr. Wan Jie**[78](index=78&type=chunk) - The Committee is responsible for providing recommendations to the Board on **director remuneration policy** and determining the **specific remuneration packages and terms of appointment** for each director on behalf of the Board[78](index=78&type=chunk) [Nomination Committee](index=32&type=section&id=Nomination%20Committee) The **Nomination Committee**, comprising three **independent non-executive directors**, reviews **Board structure** and recommends **director appointments or re-appointments** - The **Nomination Committee** comprises three **independent non-executive directors**: **Ms. Wei Wei** (Chairman), **Mr. Wan Jie, and Mr. Yick Wing Fat, Peter**[79](index=79&type=chunk) - The Committee is responsible for reviewing the Board's **structure, size and composition** at least annually, and for providing recommendations on any proposed changes to the Board and the **appointment or re-appointment of directors**[79](index=79&type=chunk) [Compliance with the Model Code for Securities Transactions by Directors](index=32&type=section&id=Compliance%20with%20the%20Model%20Code%20for%20Securities%20Transactions%20by%20Directors) The Company adopted the **Model Code for Securities Transactions by Directors**, and all directors confirmed **compliance** throughout the interim period - The Company has adopted the **Model Code for Securities Transactions by Directors of Listed Issuers** as set out in **Appendix C3 of the Listing Rules** as its **code of conduct** for directors' securities transactions[80](index=80&type=chunk) - Following specific enquiry by the Company, all Directors confirmed their **compliance with the Model Code** throughout the interim period[80](index=80&type=chunk) [Other Information](index=33&type=section&id=Other%20Information) [Publication of Announcement](index=33&type=section&id=Publication%20of%20Announcement) This **interim results announcement** is published on **HKEX** and the **Company's website**; the **2025 interim report** will be **available to shareholders in due course** - This **interim results announcement** has been published on the **HKEX website** (www.hkexnews.hk) and the **Company's website** (www.metamediahldg.com)[81](index=81&type=chunk) - The Company's **2025 interim report** will be provided to shareholders and published on the **HKEX and Company's respective websites in due course**[81](index=81&type=chunk) [Board of Directors](index=33&type=section&id=Board%20of%20Directors) As of this announcement, the Board comprises **three executive directors** and **three independent non-executive directors** - The Board includes **executive directors Mr. Shao Zhong, Ms. Yang Ying, and Mr. Li Jian**[82](index=82&type=chunk) - The Board includes **independent non-executive directors Mr. Yick Wing Fat, Peter, Ms. Wei Wei, and Mr. Wan Jie**[82](index=82&type=chunk)

Group 1: Carbon Market and Policy Changes - The Central Committee and State Council issued an opinion to establish a national carbon emissions trading market covering major industrial sectors by 2027, with a focus on voluntary greenhouse gas reduction trading [1] - The National Development and Reform Commission is working on policies to expand domestic demand and stabilize employment, supporting enterprises in innovation and quality supply [1] Group 2: Real Estate Policy Adjustments - Shanghai has announced adjustments to its real estate policies, including reducing housing purchase restrictions and optimizing housing provident fund and personal housing credit policies, effective from August 26 [2] Group 3: Company Performance - Sunshine Power reported a 55.97% year-on-year increase in net profit for the first half of the year, with a proposed cash dividend of 9.5 yuan per 10 shares [4] - New Energy Company achieved a revenue of 104.37 billion yuan, a 282.64% increase year-on-year, with a net profit growth of 355.68% [4] - High德 Infrared reported a 68.24% increase in revenue and a 906.85% increase in net profit year-on-year [4] - Qi Ming Information's net profit surged by 2568.5% year-on-year, while拓维信息 saw a revenue decline of 24.42% [3] Group 4: Corporate Announcements and Investments - Zhu Hai Guan Yu plans to invest approximately 2 billion yuan in a new lithium battery production project to enhance its market position [5] - Jing Sheng Co. is planning to acquire a controlling stake in Beijing Weizhun Intelligent Technology Co., with stock trading suspended for up to 10 trading days [5] - Hunan Development announced a major asset restructuring involving the acquisition of hydropower assets for 1.512 billion yuan, aimed at enhancing its focus on the hydropower sector [7]

格隆汇8月13日丨超媒体控股(00072.HK)宣布，将于2025年8月26日(星期二)举行董事会会议，以(其中包 括)考虑及批准公司及其附属公司截至2025年6月30日止六个月的未经审核业绩及其刊发，并审议派付中 期股息(如有)。 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內 容 概 不 負 責，對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，並 明 確 表 示，概 不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的 任 何 損 失 承 擔 任 何 責 任。 Meta Media Holdings Limited 超媒體控股有限公司 （於開曼群島註冊成立的有限公司） 超 媒 體 控 股 有 限 公 司（「本公司」）董 事 會（「董事會」）欣 然 宣 佈，將 於 二 零 二 五 年 八 月 二 十 六 日（星 期 二）舉 行 董 事 會 會 議，以（其 中 包 括）考 慮 及 批 准本公司及其附屬公司截至二零二五年六月三十日止六個月的未經審 核 業 績 及 其 刊 發，並 審 議 派 付 中 期 股 息（如 有）。 承董事會命 超媒體控股有限公司 主 席 邵 忠 香 港，二 零 二 五 年 八 月 十 三 日 於 本 公 告 日 期，董 事 會 包 括 下 列 成 員：(a)執 行 董 事 邵 忠 先 生、楊 瑩 女 士 及 李 劍 先 生；及(b)獨 立 非 執 行 董 事 易 永 發 先 ...