Company Overview - Meiya Entertainment Information (00391.HK) reported a closing price of HKD 0.104 per share, with a rise of 10.64% and a trading volume of 660,000 shares, totaling HKD 62,900 [1] - The company has experienced a cumulative decline of 1.05% over the past month and year-to-date, underperforming the Hang Seng Index, which has increased by 22.01% [2] Financial Performance - For the fiscal year ending September 30, 2024, Meiya Entertainment achieved total revenue of HKD 73.3282 million, reflecting a year-on-year growth of 31.96% [2] - The company reported a net profit attributable to shareholders of -HKD 32.478 million, a significant decrease of 697.14% compared to the previous year [2] - The gross profit margin stood at 19.97%, while the debt-to-asset ratio was 55.7% [2] Industry Valuation - The media and entertainment industry has an average price-to-earnings (P/E) ratio (TTM) of -6.98, with a median of -1.49 [2] - Meiya Entertainment's P/E ratio is -10.52, ranking 66th in the industry [2] - Comparatively, other companies in the sector have the following P/E ratios: Huashi Group Holdings (01111.HK) at 2.21, Yaoxing Technology Group (08446.HK) at 2.46, Vaporsphere Metaverse (08093.HK) at 6.53, Weibo-SW (09898.HK) at 6.83, and Aide Weixuan Group (09919.HK) at 7.05 [2] Upcoming Events - The company is scheduled to disclose its annual report for the fiscal year 2024 on June 30, 2025 [3]

截至2025年6月13日收盘，*ST长药（300391）报收于4.51元，较上周的4.36元上涨3.44%。本周，*ST长 药6月12日盘中最高价报4.72元。6月9日盘中最低价报4.38元。*ST长药当前最新总市值15.8亿元，在中 药板块市值排名67/68，在两市A股市值排名5075/5150。 截至目前，长药控股重整投资人招募和遴选工作已圆满完成。2025 年 5 月 6 日，上市公司与临时管理 人共同和产业投资人嘉道博文、昊炜生物以及财务投资人大涵基金、合肥当歌、安徽宏业、上海琉光分 别签署重整投资协议并公告。待获得中国证监会和最高人民法院的批复后，公司将进入正式重整阶段。 目前重整方案暂未最终确定，转股日依据重整计划确定。重整投资协议落地后是否会除权，将以最终的 出资人权益调整方案、抵债价格以及届时的股票市价等因素综合确定。四川嘉道博文生态科技有限公司 及其控股股东深圳嘉道功程股权投资基金（有限合伙）在中医药全产业链业务方面有较好的业务资源， 后续能与公司医药板块的主营业务协同，推动公司医药业务持续发展。目前产业投资人未向公司提出资 产注入的要求。 待公司重整计划执行完毕后入驻。 以上内容为证券之星 ...

Financial Performance - The group reported a total revenue of HKD 81,314,000 for the six months ended September 30, 2024, compared to HKD 61,619,000 in the same period last year, representing a year-on-year increase of 32%[2] - The gross profit for the same period was HKD 16,240,000, down from HKD 41,408,000, indicating a significant decline in profitability[2] - The operating loss increased to HKD 35,444,000 from HKD 194,000, reflecting a substantial deterioration in operational performance[2] - The net loss attributable to the company's owners was HKD 36,015,000, compared to HKD 4,518,000 in the previous year, marking a significant increase in losses[2] - The company reported a comprehensive loss of HKD 38,520,000 for the period, compared to a comprehensive income of HKD 71,000 in the previous year, indicating a significant shift in overall financial health[4] - The group recorded a net loss of HKD 38,825,000 for the six months ended September 30, 2024[26] - The accumulated losses reached HKD 511,063,000 as of September 30, 2024[14] Assets and Liabilities - The total assets as of September 30, 2024, were HKD 624,271,000, down from HKD 661,142,000 as of March 31, 2024, indicating a decrease of approximately 5.57%[6] - The total equity attributable to the owners of the company decreased to HKD 276,531,000 from HKD 315,051,000, reflecting a decline of about 12.2%[9] - The group's liabilities increased to HKD 347,740,000 as of September 30, 2024, compared to HKD 346,091,000 as of March 31, 2024[43] - Trade receivables net amount decreased to HKD 14,931,000 as of September 30, 2024, from HKD 24,256,000 as of March 31, 2024, indicating a decline of 38.4%[63] Cash Flow and Financing - The cash and cash equivalents decreased to HKD 14,745,000 from HKD 21,132,000, representing a decline of approximately 30.3%[6] - For the six months ended September 30, 2024, the operating cash flow was HKD 6,930,000, a decrease of 69.5% compared to HKD 22,665,000 in the same period of 2023[18] - The cash flow from financing activities showed a net outflow of HKD 4,513,000, an improvement from HKD 7,227,000 in the previous year[18] - As of September 30, 2024, the group has available bank financing of approximately HKD 34,200,000, with HKD 29,700,000 already utilized[93] - The group's debt-to-equity ratio as of September 30, 2024, stands at 46.4%, calculated based on total borrowings of HKD 126,695,000 and shareholder equity of approximately HKD 272,844,000[93] Revenue Segmentation - Revenue from Mainland China for the six months ended September 30, 2024, was HKD 65,361,000, a significant increase from HKD 38,941,000 in the same period of 2023[48] - The group's reported segment profit/loss for the six months ended September 30, 2024, was a loss of HKD 31,626,000, compared to a profit of HKD 3,250,000 in the same period of 2023[40] - Revenue from the channel business segment fell from HKD 16,100,000 to HKD 13,800,000, reflecting a decline in contributions[81] - Revenue from film screening and licensing dropped from approximately HKD 27,800,000 to HKD 20,800,000, indicating a decrease in performance[86] - The company’s cinema segment revenue decreased from approximately HKD 15,200,000 to HKD 7,400,000 due to temporary closure for renovations[88] - The concert and event segment saw revenue increase from HKD 2,500,000 to HKD 29,200,000, reflecting a strong recovery post-COVID-19[89] Cost Management - The group’s administrative expenses remained stable at HKD 34,662,000, compared to HKD 34,868,000 in the previous year, indicating effective cost management despite the overall losses[2] - Employee benefits expenses amounted to HKD 17,400,000 during the period[94] Shareholder Information - Basic loss per share was HKD 6.08 based on a loss attributable to equity holders of HKD 36,015,000 for the six months ended September 30, 2024, compared to HKD 0.76 in 2023[60] - The company did not recommend an interim dividend for the six months ended September 30, 2024, consistent with no dividend in 2023[62] - Major shareholders holding 5% or more of the company's issued share capital include He Zhi Cheng with 398,840,000 shares (6.73%) and IDG-Accel China Growth Fund Associates L.P. with 370,205,516 shares (6.25%)[106] Future Outlook - The group plans to continue its operations based on expected cash inflows from its business activities and financial support from its major shareholder[26] - The company plans to explore investment opportunities that could create synergies with existing operations to maximize shareholder returns[92]

Financial Performance - The company reported a net loss of HKD 38,825,000 for the six months ended September 30, 2024, compared to a net loss of HKD 4,592,000 for the same period in 2023, representing an increase in loss of approximately 743%[15] - Total comprehensive loss for the period was HKD 38,520,000, with losses attributable to the company's owners amounting to HKD 35,710,000[4] - The group reported a total segment loss of HKD 31,626,000, with the film screening and licensing segment alone incurring a loss of HKD 9,061,000[21] - The company reported a loss of HKD 39,318,000 for the six months ended September 30, 2024, compared to a loss of HKD 5,002,000 in the same period of 2023, indicating a significant increase in losses[26] - The group reported a loss attributable to shareholders of HKD 36,015,000, compared to a loss of HKD 4,518,000 in the previous year, marking a substantial increase in net loss[62] Revenue and Growth - Total group revenue for the six months ended September 30, 2024, was HKD 81,314,000, with significant contributions from film screening and licensing, which generated HKD 34,654,000 combined[21] - Revenue from external customers for the six months ended September 30, 2024, was HKD 81,314,000, up 32% from HKD 61,619,000 in 2023, driven primarily by growth in the China market[32] - The group recorded consolidated revenue of HKD 81,314,000 for the six months ended September 30, 2024, compared to HKD 61,619,000 in the same period of 2023, representing a year-on-year increase of approximately 31.5%[62] - Revenue contribution from the film screening and licensing segment decreased from approximately HKD 27,800,000 to HKD 20,800,000, impacted by fewer film deliveries and underperforming releases[67] - The concert and event segment's revenue increased significantly from HKD 2,500,000 to HKD 29,200,000 following the resumption of operations after COVID-19[69] Assets and Liabilities - The company's total assets decreased from HKD 661,142,000 as of March 31, 2024, to HKD 624,271,000 as of September 30, 2024, reflecting a decline of approximately 5.57%[10] - Non-current assets totaled HKD 544,470,000 as of September 30, 2024, down from HKD 559,481,000 as of March 31, 2024[8] - The company’s total liabilities increased slightly from HKD 346,091,000 to HKD 347,740,000, indicating a marginal rise of about 0.48%[10] - The group’s liabilities amounted to HKD 235,514,000, with the film screening and licensing segment accounting for HKD 57,229,000 of this total[21] - The company’s total liabilities increased slightly to HKD 347,740,000 from HKD 346,091,000, suggesting a stable financial position despite the losses[26] Equity and Shareholder Information - The company’s equity attributable to owners decreased from HKD 315,051,000 to HKD 276,531,000, a decline of approximately 12.2%[10] - The company’s equity holders' loss per share for the six months ended September 30, 2024, was HKD 0.0061, compared to HKD 0.0008 in the same period of 2023, highlighting the impact of increased losses on shareholder value[40] - The group has a debt-to-equity ratio of 46.4%, calculated based on total borrowings of HKD 126,695,000 and shareholder equity of approximately HKD 272,844,000[72] - The group did not declare an interim dividend for the six months ended September 30, 2024, consistent with the previous year[42] Operational Insights - The company is engaged in various business segments including channel operations, film screening, and property investment, indicating a diversified operational strategy[12] - The group has ongoing investments in multiple new films and animations, with two projects receiving funding from the Hong Kong government's film production support scheme, expected to be released in the second half of the fiscal year[67] - The group aims to explore additional business opportunities to enhance revenue contributions from the channel business segment[65] - The group continues to seek investment opportunities that can create synergies with existing businesses to maximize shareholder returns[71] Financial Management and Costs - The company’s cash and cash equivalents were HKD 14,745,000 as of September 30, 2024, down from HKD 21,132,000 as of March 31, 2024[8] - The group has commitments related to film and program rights amounting to approximately HKD 44,200,000, to be funded through internal resources and bank credit[72] - Employee benefits expenses amounted to HKD 17,400,000 during the period, with a new share option plan adopted for eligible participants[73] - The group’s financing costs for the period were HKD 3,119,000, reflecting the cost of capital associated with its operations[21] - The net financing costs for the six months ended September 30, 2024, were HKD 3,661,000, compared to HKD 3,616,000 in 2023, indicating stable financing expenses[37] Accounting and Valuation - The group has not yet adopted new accounting standards that will take effect from January 1, 2025, which may impact future financial performance[18] - The group is currently assessing the impact of new accounting standards on its operational performance and financial position, but has not identified any significant effects yet[18] - The group recorded a fair value loss of HKD 14,248,000 on investment properties, indicating challenges in the property investment segment[21] - The group recorded a fair value loss of approximately HKD 600,000 on financial assets and a revaluation loss of about HKD 14,200,000 on investment properties, which did not impact cash flow[69] - Depreciation for property, plant, and equipment was HKD 1,596,000, while the depreciation of right-of-use assets was HKD 1,928,000[21]

(於百慕達註冊成立的有限公司) 股份代號 Stock Code: 391 (Incorporated in Bermuda with limited liability) 2024 ANNUAL REPORT 年 報 Annual Report 2024 年報 CONTENTS 目錄 | Corporate Information | 公司資料 | 2 | | --- | --- | --- | | Chairman's Statement | 主席報告 | 4 | | Directors' and Senior Management's Profile | 董事及高層管理人員之簡介 | 9 | | Corporate Governance Report | 企業管治報告 | 14 | | Report of the Directors | 董事會報告 | 27 | | Independent Auditor's Report | 獨立核數師報告 | 43 | | Consolidated Income Statement | 綜合收益表 | 58 | | Consolidated Statement of ...

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之內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不就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之任何損失承擔任何責任。 截至二零二四年三月三十一日止年度 業績公告 | --- | --- | --- | |---------------------------------------|------------|------------| | | 二零二四年 | 二零二三年 | | | 千港元 | 千港元 | | 年內虧損 | (23,435) | (49,156) | | 其他全面（虧損） ╱ 收益，扣除稅項： | | | | 其後不會重新分類至損益表之項目 | | | | 樓宇重估（虧損）╱盈餘 | (112) | 20,526 | | 樓宇重估盈餘產生之遞延稅項 | (3,560) | (3,449) | | 貨幣換算差額 | (558) | (755) | | 可能重新分類至損益表之項目 | | | | 貨幣換算差額 | 2,482 | 3,662 | | 年內其他全面（虧損） ╱ 收益，扣除稅項 | (1,748) ...

Financial Performance - For the six months ended September 30, 2023, the company reported a revenue of HKD 61,619,000, compared to HKD 29,510,000 for the same period in 2022, representing a 108.5% increase[3] - The gross profit for the same period was HKD 41,408,000, significantly up from HKD 21,397,000 in 2022, indicating a 93.8% increase[3] - The operating loss narrowed to HKD 194,000 from HKD 26,109,000 in the previous year, showing a substantial improvement[3] - The net loss for the period was HKD 4,592,000, a significant reduction from HKD 30,001,000 in the prior year, reflecting a 84.7% decrease[3] - The group reported a net loss of HKD 4,592,000 for the six months ended September 30, 2023, compared to a net loss of HKD 11,609,000 for the same period in 2022, indicating an improvement in performance[33] - Operating cash flow for the six months ended September 30, 2023, was HKD 22,665,000, up from HKD 17,851,000 in the previous year, representing a 27.5% increase[24] - The group's total comprehensive income for the period was HKD 4,663,000, compared to a loss of HKD 11,609,000 in the prior year, showing a significant recovery[24] - The group experienced a significant improvement in profit, reporting a profit of HKD 3,250 thousand for the six months ended September 30, 2023, compared to a loss of HKD 21,843 thousand in the same period last year[47] Assets and Liabilities - The total assets as of September 30, 2023, were HKD 664,991,000, down from HKD 688,100,000 as of March 31, 2023[10] - Non-current assets decreased to HKD 568,025,000 from HKD 591,139,000, indicating a decline of 3.9%[10] - The total liabilities decreased to HKD 325,214,000 from HKD 348,394,000, showing a reduction of 6.7%[13] - The group’s current liabilities net amount improved to approximately HKD 23,434,000 as of September 30, 2023, from HKD 35,715,000 as of March 31, 2023[33] - The total liabilities as of September 30, 2023, were HKD 116,235,000, down from HKD 126,105,000 as of March 31, 2023, reflecting a decrease of 7.8%[76] Cash Flow and Financing - The company reported financing income of HKD 282,000, up from HKD 58,000 in the previous year, marking a 386.2% increase[3] - The company’s cash and cash equivalents stood at HKD 34,976,000, down from HKD 37,528,000 as of March 31, 2023[10] - Cash and cash equivalents increased by HKD 5,628,000 during the six months, resulting in a closing balance of HKD 31,525,000, compared to HKD 5,514,000 at the end of the previous year[27] - The group’s net cash used in investing activities was HKD 9,710,000, compared to a net cash inflow of HKD 6,733,000 in the previous year, indicating a shift in investment strategy[24] - As of September 30, 2023, the group had outstanding borrowings of RMB 30,000,000 (approximately HKD 32,190,000) with an interest of RMB 10,900,000 (approximately HKD 11,696,000) at a fixed annual interest rate of 7.5%[78] Revenue Segments - The group reported segment revenue of HKD 29,510 thousand for the period, with contributions from various segments including HKD 15,186 thousand from licensing and HKD 7,291 thousand from cinema operations[41] - Revenue from Mainland China surged to HKD 38,941,000, compared to HKD 8,570,000 in the previous year, marking an increase of 354.5%[51] - Revenue from film screenings and licensing increased from approximately HKD 7,300,000 to HKD 27,800,000, highlighting the success of new media partnerships[92] - The group's cinema operations in China saw revenue increase from approximately HKD 7,000,000 to HKD 15,000,000 due to the gradual recovery post-COVID-19[95] Investments and Expenditures - The group incurred capital expenditures of HKD 1,233,000 for the purchase of property, machinery, and equipment, down from HKD 2,596,000 in the previous year, reflecting a reduction in investment[24] - The group recorded depreciation of property, plant, and equipment amounting to HKD 6,098 thousand for the period[41] - The group recorded a fair value loss on investment properties of HKD 12,086 thousand during the period[41] - The investment property portfolio experienced a revaluation loss of about HKD 10,200,000, down from HKD 12,100,000 in the previous year[96] Corporate Governance and Compliance - Major shareholder Li Guoxing held a beneficial interest of 56.06% in the company as of September 30, 2023[104] - The group has complied with the corporate governance code as per the listing rules during the six months ending September 30, 2023[116] - The group has adopted a code of conduct for securities trading by directors, ensuring compliance with the standard code[118] - The Audit Committee, consisting of three independent non-executive directors, reviewed the interim performance for the six months ended September 30, 2023[120] Dividends and Share Repurchase - The company did not declare an interim dividend for the six months ended September 30, 2023, consistent with the previous year[64] - The group does not recommend the payment of an interim dividend for the six months ended September 30, 2023, compared to no dividend in 2022[88] - The company did not repurchase any shares during the six months ended September 30, 2023[119]

融資成本 – 淨 額 7 (3,616) (4,296) 應佔聯營公司虧損 (1,192) (614) 除所得稅前虧損 (5,002) (31,019) 所得稅抵免 8 410 1,018 期內虧損 (4,592) (30,001) 未經審核 截至九月三十日止六個月 二零二三年 二零二二年 附 註 千港元 千港元 收 益 4 61,619 29,510 銷售成本 (20,211) (8,113) 毛 利 41,408 21,397 其他收入 5,017 5,015 其他虧損 5 (11,417) (14,538) 銷售、分銷及市場推廣開支 (334) (2,874) 行政開支 (34,868) (35,109) 經營虧損 6 (194) (26,109) 融資收入 282 58 融資成本 (3,898) (4,354) 本公司擁有人應佔每股虧損 每股基本及攤薄虧損 9 （0.08港仙） （0.50港仙） 董 事 謹 此 呈 報 本 公 司 及 其 附 屬 公 司（「本 集 團」）截 至 二 零 二 三 年 九 月 三 十 日 止 六 個 月 之 簡 明 綜 合 財 務 資 料。本 集 團 截 至 二 零 二 ...

Financial Performance - The company reported a consolidated income of $1.2 billion for the fiscal year, representing a 15% increase year-over-year [54]. - The Group recorded a consolidated revenue of HK$75,570,000 for the year ended 31st March 2023, a decrease from HK$78,218,000 in 2022, with a gross profit of HK$16,304,000 compared to HK$38,573,000 in the previous year [58]. - The loss attributable to owners of the Company was HK$48,915,000, up from HK$39,232,000 in 2022, primarily due to a significant impairment provision of approximately HK$17.5 million for films and program rights [58]. - The adjusted loss, excluding losses on revaluation of investment properties and financial assets, improved from HK$48,537,000 in 2022 to HK$30,663,000 in 2023 [58]. - Revenue from the Group's channel operations segment dropped from approximately HK$41.3 million to approximately HK$33.7 million, mainly due to the completion of an exclusive content supply contract with HBO Asia [58]. - The Group recognized an income of approximately HK$42.5 million from the settlement plan related to advances previously granted to a de-consolidated entity, JZZX [61]. - The Group's financial assets at fair value through profit or loss recorded a fair value loss of approximately HK$3.0 million, compared to gains of HK$0.2 million in 2022 [61]. - The investment properties portfolio contributed a loss on revaluation of approximately HK$15.3 million, down from gains of HK$9.2 million in the previous year [61]. - The Group's revenue from cinema operations decreased from approximately HK$23.8 million to HK$17.1 million due to intermittent suspensions caused by COVID-19 [133]. Strategic Initiatives - The company expects revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion [54]. - Investment in research and development increased by 20%, focusing on innovative technologies and product enhancements [54]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within two years [54]. - A strategic acquisition of a tech startup was completed, expected to enhance the company's product offerings and capabilities [54]. - The Group aims to actively seek investment opportunities that create synergies with existing and potential new businesses to maximize returns for shareholders [61]. - The Group aims to continue seeking cooperations with major new media platforms to further penetrate the vast media market [133]. - The Group's strategy includes self-producing and investing in content while leveraging its established distribution network [133]. Governance and Management - The audit committee reviewed the Group's unaudited interim results and annual audited results, confirming compliance with applicable accounting standards [20]. - The Company has established a remuneration committee to develop and review remuneration policies for directors and senior management [20]. - The Board of Directors consists of eight members, including three executive directors and five independent non-executive directors, ensuring a diverse background in management, finance, investment, legal, and media sectors [34]. - The Company has received annual confirmations of independence from all independent non-executive directors, complying with Listing Rules [34]. - The Company emphasizes continuous professional development for directors, ensuring their contributions remain informed and relevant to the Group's objectives [36]. - The Group's management is responsible for implementing policies and ensuring effective performance, as delegated by the Board [34]. - The Company has a specific term of appointment for non-executive directors, who are subject to retirement by rotation [34]. - The nomination committee consists of five members, including three independent non-executive directors and two executive directors, with Mr. Guo Yan Jun as the chairman [46]. Diversity and Inclusion - As of March 31, 2023, the ratio of men to women in the workforce was approximately 3:2, with a goal to achieve a more balanced gender ratio in the future [15]. - The Company is committed to monitoring and evaluating its diversity policy to ensure continued effectiveness [15]. Audit and Compliance - The consolidated financial statements provide a true and fair view of the Group's financial position as of March 31, 2023 [138]. - Key audit matters included impairment of film and program rights and impairment of property, plant, and equipment in cinema operations in Mainland China [138]. - The audit was conducted in accordance with Hong Kong Standards on Auditing, ensuring compliance with ethical responsibilities [138]. - The audit evidence obtained indicated no material uncertainty regarding the Group's ability to continue as a going concern [200]. Shareholder Information - The board has approved a dividend payout of $0.50 per share, maintaining a consistent return to shareholders [54]. - The Company has not redeemed any of its shares during the year, nor have any shares been purchased or sold by the Company or its subsidiaries [102]. - The Company confirmed that there is sufficient public float of at least 25% of its issued shares as of the report date [134]. - The total number of shares that can be issued upon exercise of options granted in any 12-month period must not exceed 1% of the shares in issue [92]. Operational Challenges - The Group's cinema operations were affected by COVID-19, leading to fluctuations in operational revenues throughout the year [133]. - Management performed an impairment assessment for film rights as of March 31, 2023, due to below-expected box office performance [186].

Financial Performance - Revenue for the year ended March 31, 2023, was HKD 75,570,000, a decrease of 3.4% from HKD 78,218,000 in 2022[11]. - Gross profit for the year was HKD 16,304,000, down 57.7% from HKD 38,573,000 in the previous year[3]. - Operating loss increased to HKD 43,868,000 from HKD 35,599,000, representing a 23.4% increase in losses[4]. - Loss before tax was HKD 53,102,000, compared to HKD 42,571,000 in 2022, indicating a 24.5% increase in losses[6]. - Basic and diluted loss per share was HKD 0.83, compared to HKD 0.66 in the previous year, reflecting a 25.8% increase in loss per share[8]. - The company reported a net loss of HKD 49,156,000 for the year, compared to HKD 39,333,000 in 2022, marking a 25% increase in net losses[15]. - The group reported a net loss of HKD 49,156,000 for the year, compared to a loss of HKD 39,333,000 in the previous year[62]. - The company reported a loss attributable to shareholders of HKD 48,915,000 for 2023, compared to a loss of HKD 39,232,000 in 2022, indicating a worsening financial position[131]. - The group recorded a loss of HKD (76,959) million in the current year compared to a loss of HKD (28,297) million in the previous year[100]. Revenue Breakdown - Total revenue for the group decreased from HKD 78,218,000 in the previous year to HKD 75,570,000, representing a decline of approximately 3.4%[71]. - Revenue from channel operations decreased from HKD 41,264,000 to HKD 33,715,000, a decline of about 18.5%[71]. - Revenue from film screening and licensing increased significantly from HKD 12,322,000 to HKD 24,762,000, marking a growth of approximately 100%[71]. - Revenue from cinema operations decreased from HKD 23,781,000 to HKD 17,093,000, a decline of about 28.3%[71]. - Total external customer revenue decreased to HKD 75,570,000 in 2023 from HKD 78,218,000 in 2022, representing a decline of approximately 3.4%[79]. - Customer A contributed HKD 25,092,000 in 2023, an increase of 5.4% from HKD 23,806,000 in 2022[79]. - Revenue from film screenings and licensing increased from approximately HKD 12,300,000 to HKD 24,800,000, with two new films released during the year receiving multiple awards[156]. Assets and Liabilities - Total assets decreased to HKD 688,100,000 from HKD 757,196,000, a decline of 9.1%[31]. - Total equity decreased to HKD 339,706,000 from HKD 368,878,000, a reduction of 7.9%[19]. - Total liabilities decreased from HKD 388,318,000 to HKD 348,394,000, a reduction of approximately 10.3%[52]. - Current liabilities improved, with net current liabilities decreasing from HKD 82,115,000 to HKD 35,715,000, primarily due to the recovery of receivables from subsidiaries amounting to HKD 42,500,000[66]. - Non-current assets in Hong Kong decreased to HKD 428,683 million from HKD 473,445 million, indicating a decline in asset value[103]. - The total bank borrowings amounted to HKD 126,105,000 as of March 31, 2023, down from HKD 143,340,000 in the previous year[148]. - The group’s debt-to-equity ratio as of March 31, 2023, was 38.1%, calculated based on total bank and other borrowings of approximately HKD 126.1 million and shareholder equity of approximately HKD 331.2 million[161]. Expenses and Costs - Employee benefits expenses, including directors' remuneration, decreased to HKD 33,761,000 in 2023 from HKD 38,465,000 in 2022, a reduction of approximately 12.5%[4]. - Marketing and promotional expenses surged to HKD 6,750,000 in 2023, compared to HKD 756,000 in 2022, reflecting a substantial increase in marketing efforts[4]. - The company recorded a net finance cost of HKD 8,256,000 in 2023, down from HKD 9,897,000 in 2022, indicating improved financing efficiency[109]. - The impairment provision for film and program rights increased significantly from HKD 3,600,000 in 2022 to HKD 17,500,000 in 2023[131]. - The impairment loss on trade receivables remained constant at HKD 19,868,000 for both 2023 and 2022[92]. Strategic Initiatives - The company is focusing on channel operations and property investment as part of its strategic initiatives[96]. - The company plans to explore various opportunities to enhance contributions through its operational channels in the future[133]. - The entertainment sector is expected to gradually return to normal levels as the impact of COVID-19 subsides, with plans to explore investment opportunities that create synergies for existing and potential new businesses[160]. - The company plans to restart its concert and event operations in the next fiscal year, which is expected to generate revenue[159]. Government Support and Financial Assistance - The company received government subsidies related to COVID-19, which provided financial support to eligible employees during the pandemic[95]. - The group has received financial support from its controlling shareholder to ensure it can meet its liabilities as they fall due[68]. Other Information - The company did not recognize any tax provision for Hong Kong profits tax due to no taxable profits generated in 2023 and 2022[85]. - The company has not recommended any dividend distribution for the years ended March 31, 2023, and 2022[113]. - The group has commitments related to film and program rights amounting to approximately HKD 48.3 million as of March 31, 2023[179]. - The group has been expanding its presence in the new media market through partnerships with major platforms, including YouTube, with over 525,000 subscribers as of March 2023[173]. - The executive directors of the company include Mr. Li Guoxing, Mr. Li Dengxu, and Dr. Dong Ming[182]. - The independent non-executive directors consist of Dr. Lin Jiali, Mr. Guo Yanjun, Mr. Liang Desheng, Mr. Ma Fengguo, and Ms. Xu Lin[182].