(Incorporated in Bermuda with limited liability) （於百慕達註冊成立的有限公司） （Stock Code 股份代號：391） NOTIFICATION LETTER 通知信函 Dear Non-Registered Holder (Note 1) , By order of the Board Mei Ah Entertainment Group Limited Li Tang Yuk Director Notes: 各位非登記持有人 （附註 1 ） ： 美亞娛樂資訊集團有限公司（「本公司」） — 於本公司網站刊發2025年報，2025年7月31日載有股東週年大會之通函（「本次公司通訊」）之發佈通知 本 公 司 的 本 次 公 司 通 訊 之 中 、 英 文 版 本 已 分 別 上 載 於 本 公 司 網 站 www.meiah.com 及 香 港 聯 合 交 易 所 有 限 公 司 （「聯 交 所 」）之網站 www.hkexnews.hk（「網站版本」）。本公司建議 閣下閱覽本公司本次公司通訊的網站版本。 Mei Ah Entertainment Group ...

(Incorporated in Bermuda with limited liability) （於百慕達註冊成立的有限公司） （Stock Code 股份代號：391） NOTIFICATION LETTER 通知信函 31 July 2025 Dear Registered Shareholder, Mei Ah Entertainment Group Limited (the "Company") If you for any reason have difficulty in receiving email notification or gaining access to the Website Version of the Corpora te Communications and would like to receive the Current Corporate Communication and all future Corporate Communications in printed form, please complete, sign th e enclosed Change R ...

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。 股東週年大會通告 茲通告 本公司將於二零二五年八月二十八日下午四時三十分假座香港九龍將軍澳 工業邨駿才街28號美亞集團中心五樓會議廳舉行股東週年大會，以討論以下事項： (a) 一般及無條件批准董事於有關期間內行使本公司所有權力，在本公司所發 行購股權證所附認購權獲行使而可能發行之任何股份以外，發行、配發及 處理本公司額外股份，以及訂立或授出可能須在有關期間內或結束之後配 發、發行或處理股份之建議、協議及購股權，惟所發行、配發、處理或有條 件 或 無 條 件 同 意 發 行、配 發 或 處 理（不 論 依 據 購 股 權 或 其 他 方 式）之 額 外 股 份 之 面 值 總 額（惟 根 據 於 指 定 記 錄 日 期 向 股 東 按 其 當 時 持 股 比 例 配 售 新 股 （董事有權就零碎股份或就香港以外任何地區之法例或任何認可監管機構 ...

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通函之內容概不負責， 對 其 準 確 性 或 完 整 性 亦 不 發 表 任 何 聲 明，且 明 確 表 示，概 不 對 因 本 通 函 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。 此乃要件 請即處理 閣下如 對本通函任何方面 有疑問，應諮詢股票經紀或其他註冊證券商、銀行經理、 律師、專業會計師或其他專業顧問。 閣下如已售 出 名 下 所 有 之 美 亞 娛 樂 資 訊 集 團 有 限 公 司 之 證 券，應 立 即 將 本 通 函 及 隨 附 之 代 表 委 任 表 格 送 交 買 主 或 經 手 買 賣 之 銀 行 經 理、股 票 經 紀 或 其 他 代 理 商， 以便轉交買主。 建 議 (1) 發行及購回股份之一般授權 (2) 重選董事 及 股東週年大會通告 美亞娛樂資訊集團有限公司謹訂於二零二五年八月二十八日下午四時三十分假座香 港九龍將軍澳工業邨駿才街28號美亞集團中心五樓會議廳舉行股東週年大會，召開大 會通告載於本通函第13至16頁。無 論 閣 下 是 否 有 意 出 席 大 會，敬 請 盡 快 按 隨 附 之 ...

INTRODUCTION This Environmental, Social and Governance Report ("ESG Report") covers the environmental, social and governance initiatives and shares the key sustainability performances of Mei Ah Entertainment Group Limited (the "Company", together with its subsidiaries, the "Group") for the year ended 31st March 2025. REPORT SCOPE The ESG Report mainly covers the environmental and social performance of the Group's principal activities. REPORTING STANDARDS ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT 2025 環境、社 ...

[Chairman's Statement](index=5&type=section&id=Chairman%27s%20Statement) This fiscal year, the company faced severe challenges, with consolidated revenue decreasing to **HKD 110 million**, gross profit significantly shrinking, and loss attributable to owners expanding to **HKD 56.68 million**, while actively pursuing a 'Film IP + AI Technology' dual-driven strategy to enhance efficiency and explore IP value Key Financial Indicators | Indicator | FY2025 (HKD Thousands) | FY2024 (HKD Thousands) | YoY Change | | :--- | :--- | :--- | :--- | | Consolidated Revenue | 110,344 | 117,836 | -6.4% | | Gross Profit | 11,123 | 56,599 | -80.4% | | Loss Attributable to Owners of the Company | 56,682 | 21,449 | +164.3% | - The decline in gross profit and expansion of loss were primarily due to: - **Decreased channel business and film licensing revenue**: Attributed to concessions provided during platform operator contract renewals and fewer films delivered after phased contract completion - **Underperforming new content releases**: Some films and musicals released during the year did not meet expectations, resulting in losses - **Asset impairment**: Impairment provisions were made for property, plant, equipment, and right-of-use assets related to the Group's cinema business - **Property revaluation losses**: Increased revaluation losses on investment properties due to market trends[10](index=10&type=chunk) - The company established a "**Film and Audiovisual Production IP + AI Technology**" dual-driven strategy, aiming to create a new entertainment ecosystem, with AI technology applied across various stages, including script development, virtual shooting, and post-production, to enhance efficiency, reduce costs, and re-explore the potential of classic IPs[38](index=38&type=chunk)[42](index=42&type=chunk)[48](index=48&type=chunk) Financial Position (As of March 31, 2025) | Financial Item (As of March 31, 2025) | Amount (HKD Thousands) | | :--- | :--- | | Available Bank Facilities | 33,200 | | Total Bank and Other Borrowings | 127,654 | | Shareholders' Funds | 249,421 | | Gearing Ratio | 51% | [Directors' and Senior Management's Profile](index=13&type=section&id=Directors%27%20and%20Senior%20Management%27s%20Profile) This section details the backgrounds of the company's executive directors, independent non-executive directors, and senior management, highlighting the core leadership's extensive experience and the diverse expertise of independent non-executive directors in providing governance guidance - The core executive team includes: - **Mr. Li Kwok Hing**: Group founder, Chairman, and major shareholder, responsible for corporate strategy and development - **Mr. Li Tang Yuk**: Chief Executive Officer, son of the Chairman, responsible for the Group's daily operations - **Dr. Dong Ming**: Chief Operating Officer, with over 25 years of experience in investment banking, asset management, and corporate management[57](index=57&type=chunk)[58](index=58&type=chunk)[59](index=59&type=chunk) - Senior management member **Mr. Chan Lun Ho** serves as Company Secretary and Financial Controller, responsible for all Group financial and accounting matters, possessing over **30 years** of auditing and accounting experience[76](index=76&type=chunk) [Corporate Governance Report](index=18&type=section&id=Corporate%20Governance%20Report) This report confirms the company's compliance with the Corporate Governance Code during the fiscal year, detailing the board's structure, diversity policy, and the composition and work of its audit, remuneration, and nomination committees, ensuring checks and balances and transparent communication with shareholders - The company confirms compliance with the Corporate Governance Code under the Listing Rules for the fiscal year ended March 31, 2025[79](index=79&type=chunk) Board Composition (As of March 31, 2025) | Board Member Type (As of March 31, 2025) | Number | | :--- | :--- | | Executive Directors | 3 | | Independent Non-Executive Directors | 6 | | **Total** | **9** | | Male Directors | 8 | | Female Directors | 1 | - The Board has three committees to fulfill its responsibilities: - **Audit Committee**: Composed of three independent non-executive directors, responsible for reviewing financial statements, internal controls, and risk management systems - **Remuneration Committee**: Composed of three independent non-executive directors, responsible for formulating remuneration policies for directors and senior management - **Nomination Committee**: Composed of two executive directors and three independent non-executive directors, responsible for reviewing the Board's structure and nominating director candidates[109](index=109&type=chunk)[115](index=115&type=chunk)[121](index=121&type=chunk) - For FY2025, audit service fees paid to PricewaterhouseCoopers amounted to approximately **HKD 1.868 million**, with non-audit service fees of **HKD 20 thousand**[133](index=133&type=chunk) [Report of the Directors](index=31&type=section&id=Report%20of%20the%20Directors) This report outlines the company's FY2025 business activities, financial performance, and share capital changes, including the adoption of a new share option scheme, disclosure of directors' and major shareholders' equity interests, and confirmation of moderate supplier/customer concentration and sufficient public float - The Board does not recommend the payment of any dividend for the fiscal year ended March 31, 2025[178](index=178&type=chunk) - The company adopted a new share option scheme ("**2024 Share Option Scheme**") on September 27, 2024, to incentivize eligible participants, including employees, related entity participants, and service providers, who contribute to the Group[196](index=196&type=chunk)[197](index=197&type=chunk) Directors' Shareholding (As of March 31, 2025) | Director's Shareholding (As of March 31, 2025) | Number of Shares Held (Long Position) | Percentage of Issued Share Capital | | :--- | :--- | :--- | | Mr. Li Kwok Hing (Aggregate of personal, family, and corporate interests) | 3,349,248,800 | 56.54% | | Mr. Li Tang Yuk (Personal interest) | 1,940,000 | 0.03% | | Dr. Dong Ming (Personal interest) | 5,000,000 | 0.08% | FY2025 Major Supplier and Customer Concentration | FY2025 Major Supplier and Customer Concentration | Percentage | | :--- | :--- | | Purchases from Largest Single Supplier | 10% | | Total Purchases from Top Five Suppliers | 29% | | Sales to Largest Single Customer | 12% | | Total Sales to Top Five Customers | 30% | - The company confirms that as of the report date, at least **25%** of its issued shares are held by the public, complying with Listing Rules requirements[293](index=293&type=chunk) [Independent Auditor's Report](index=57&type=section&id=Independent%20Auditor%27s%20Report) PricewaterhouseCoopers issued an unmodified opinion on the consolidated financial statements for the year ended March 31, 2025, highlighting two key audit matters: impairment assessments of film and program rights and films in progress, and equipment and right-of-use assets for the Tianjin cinema business, both involving significant management judgment - PricewaterhouseCoopers issued an unmodified opinion, stating that the consolidated financial statements present a true and fair view of the Group's financial position[309](index=309&type=chunk) - The report identified two key audit matters: - **Impairment of film and program rights and films in progress**: Due to lower-than-expected box office performance for some films, management assessed film rights for impairment, recognizing an impairment of **HKD 6.206 million** - **Impairment of equipment and right-of-use assets for Tianjin cinema business**: Given the Tianjin cinema's continuous losses and failure to meet budgets in recent years, management assessed its related assets for impairment, recognizing a total impairment of **HKD 13.184 million**[319](index=319&type=chunk)[328](index=328&type=chunk)[351](index=351&type=chunk) [Consolidated Financial Statements](index=69&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Income Statement](index=70&type=section&id=Consolidated%20Income%20Statement) This fiscal year, consolidated revenue slightly decreased to **HKD 110 million**, while a significant increase in cost of sales to **HKD 99.22 million** sharply reduced gross profit to **HKD 11.12 million**, ultimately expanding loss attributable to owners to **HKD 56.68 million** and basic loss per share to **HKD 0.96 cents** Consolidated Income Statement Summary | Item (HKD Thousands) | FY2025 | FY2024 | | :--- | :--- | :--- | | Revenue | 110,344 | 117,836 | | Cost of Sales | (99,221) | (61,237) | | **Gross Profit** | **11,123** | **56,599** | | Operating Loss | (51,392) | (17,110) | | **Loss for the Year** | **(59,758)** | **(23,435)** | | **Loss Attributable to Owners of the Company** | **(56,682)** | **(21,449)** | | Basic and Diluted Loss Per Share (HK cents) | (0.96) | (0.36) | [Consolidated Statement of Comprehensive Income](index=71&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) Building on a loss for the year of **HKD 59.76 million**, total comprehensive loss for this fiscal year significantly increased to **HKD 61.67 million** (compared to **HKD 25.18 million** last year), primarily due to other comprehensive losses from building revaluation Consolidated Statement of Comprehensive Income Summary | Item (HKD Thousands) | FY2025 | FY2024 | | :--- | :--- | :--- | | Loss for the Year | (59,758) | (23,435) | | Other Comprehensive Loss for the Year | (1,914) | (1,748) | | **Total Comprehensive Loss for the Year** | **(61,672)** | **(25,183)** | [Consolidated Balance Sheet](index=72&type=section&id=Consolidated%20Balance%20Sheet) As of March 31, 2025, total assets decreased to **HKD 588.18 million** from **HKD 661.14 million** last year, primarily due to reduced carrying values of non-current assets like property, plant, equipment, investment properties, and film rights, while total liabilities remained stable at **HKD 334.80 million**, and total equity declined to **HKD 253.38 million** due to losses Consolidated Balance Sheet Summary | Item (HKD Thousands) | As of March 31, 2025 | As of March 31, 2024 | | :--- | :--- | :--- | | **Total Assets** | **588,178** | **661,142** | | Non-current Assets | 489,663 | 559,481 | | Current Assets | 98,515 | 101,661 | | **Total Liabilities** | **334,799** | **346,091** | | Non-current Liabilities | 197,034 | 202,060 | | Current Liabilities | 137,765 | 144,031 | | **Total Equity** | **253,379** | **315,051** | [Consolidated Statement of Changes in Equity](index=74&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) This fiscal year, total equity decreased from **HKD 315.05 million** at the beginning of the year to **HKD 253.38 million** at year-end, a reduction of **HKD 61.67 million**, primarily due to the total comprehensive loss for the year, including **HKD 56.68 million** in net loss attributable to owners and other comprehensive losses - Shareholders' funds decreased from **HKD 309 million** to **HKD 249 million**, primarily due to a net loss of **HKD 56.68 million** and other comprehensive losses of **HKD 2.44 million** recorded during the year[394](index=394&type=chunk)[395](index=395&type=chunk) [Consolidated Cash Flow Statement](index=76&type=section&id=Consolidated%20Cash%20Flow%20Statement) This fiscal year, the Group generated a net cash inflow of **HKD 45.38 million** from operating activities, a significant improvement from last year's **HKD 22.36 million**, resulting in a net increase in cash and cash equivalents of **HKD 15.53 million** at year-end, with a closing balance of **HKD 23.43 million**, despite net cash outflows from investing and financing activities Consolidated Cash Flow Statement Summary | Item (HKD Thousands) | FY2025 | FY2024 | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 45,377 | 22,355 | | Net Cash Used in Investing Activities | (19,239) | (25,032) | | Net Cash Used in Financing Activities | (10,605) | (14,400) | | **Net Increase/(Decrease) in Cash and Cash Equivalents** | **15,533** | **(17,077)** | | Cash and Cash Equivalents at Year-End | 23,431 | 8,181 | [Notes to the Consolidated Financial Statements](index=78&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) These notes provide detailed explanations of the company's accounting policies, key estimates, and financial data, focusing on business segment performance, financial risk management strategies for liquidity, credit, and market risks, and impairment tests and fair value assessments for significant assets like film rights, investment properties, and fixed assets [Note 3: Financial Risk Management](index=122&type=section&id=Note%203%3A%20Financial%20Risk%20Management) This note details the Group's primary financial risks, including market, credit, and liquidity risks, managed through diversified investments, credit approvals, and sufficient credit facilities, with the gearing ratio increasing to **51.2%** at year-end from **40.9%** last year - The Group's gearing ratio (calculated as total bank and other borrowings divided by total equity) increased from **40.9%** in FY2024 to **51.2%** in FY2025[728](index=728&type=chunk) [Note 5: Revenue and Segment Information](index=140&type=section&id=Note%205%3A%20Revenue%20and%20Segment%20Information) This fiscal year, the Group's revenue primarily came from five business segments, with film exhibition and licensing contributing the most revenue at **HKD 30.38 million** but also the largest loss at **HKD 20.76 million**, while only processing services achieved profitability FY2025 Segment Performance (HKD Thousands) | Item | Revenue | (Loss)/Profit | | :--- | :--- | :--- | | Channel Operations | 23,558 | (5,800) | | Film Exhibition and Film Rights Licensing and Sub-licensing | 30,382 | (20,759) | | Cinema Business | 21,408 | (13,342) | | Concerts and Event Organization | 29,069 | (7,285) | | Consumer Product Manufacturing and Sales Processing Services | 5,927 | 441 | | Property Investment | – | (12,000) | [Note 12: Property, Plant and Equipment](index=161&type=section&id=Note%2012%3A%20Property%2C%20Plant%20and%20Equipment) Due to the Tianjin cinema's persistent losses and underperformance, the Group recognized an impairment loss of **HKD 4.034 million** on its related property, plant, and equipment this fiscal year, alongside a revaluation loss of **HKD 1.961 million** on buildings held at fair value - Due to the underperformance of the Tianjin cinema business, the Group recognized an impairment provision of **HKD 4.034 million** for its property, plant, and equipment[852](index=852&type=chunk) [Note 14: Investment Properties](index=172&type=section&id=Note%2014%3A%20Investment%20Properties) The Group's investment property portfolio recorded a fair value revaluation loss of **HKD 16.765 million** this fiscal year, reducing its total carrying value from **HKD 194 million** at the beginning of the year to **HKD 177 million** at year-end, while generating **HKD 6.57 million** in rental income Investment Property Fair Value Changes (HKD Thousands) | Item | FY2025 | | :--- | :--- | | Fair Value at Beginning of Year | 193,901 | | Fair Value Loss on Revaluation | (16,765) | | Exchange Differences | (178) | | **Fair Value at End of Year** | **176,958** | [Note 15: Film and Program Rights, Films in Progress and Deposits for Film and Program Rights](index=177&type=section&id=Note%2015%3A%20Film%20and%20Program%20Rights%2C%20Films%20in%20Progress%20and%20Deposits%20for%20Film%20and%20Program%20Rights) The net carrying value of film and program rights significantly decreased from **HKD 97.88 million** at the beginning of the year to **HKD 66.77 million** at year-end, primarily due to **HKD 36.12 million** in amortization expenses and **HKD 6.21 million** in impairment provisions, reflecting underperforming expected revenue from some films Film and Program Rights Changes (HKD Thousands) | Item | FY2025 | | :--- | :--- | | Net Carrying Amount at Beginning of Year | 97,883 | | Additions | 10,225 | | Amortization | (36,115) | | Impairment | (6,206) | | **Net Carrying Amount at End of Year** | **66,768** | [Five Year Financial Summary](index=227&type=section&id=Five%20Year%20Financial%20Summary) This summary presents key financial data for the Group's past five fiscal years (2021-2025), showing continuous losses attributable to owners ranging from **HKD 39.23 million** to **HKD 58.25 million**, alongside a consistent downward trend in total assets and total equity Five Year Financial Summary Table | Item (HKD Thousands) | 2025 | 2024 | 2023 | 2022 | 2021 | | :--- | :--- | :--- | :--- | :--- | :--- | | Loss Attributable to Owners of the Company | (56,682) | (21,449) | (48,915) | (39,232) | (58,249) | | Total Assets | 588,178 | 661,142 | 688,100 | 757,196 | 780,897 | | Total Liabilities | (334,799) | (346,091) | (348,394) | (388,318) | (397,140) | | Total Equity | 253,379 | 315,051 | 339,706 | 368,878 | 383,757 | [Schedule of Principal Investment Properties](index=228&type=section&id=Schedule%20of%20Principal%20Investment%20Properties) This schedule lists the Group's principal investment properties, including commercial, industrial, and residential types located in Hong Kong and mainland China (Guangzhou, Xiamen), with the Group holding **100%** interest in most properties and **70%** in one commercial property in Xiamen - The Group's principal investment properties include commercial, industrial, and residential units located in Hong Kong, as well as commercial and residential units in Guangzhou and Xiamen, mainland China[1076](index=1076&type=chunk)[1078](index=1078&type=chunk)

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。 截至二零二五年三月三十一日止年度 | 二零二五年 | 二零二四年 | 附 | 註 | 千港元 | 千港元 | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 收 | 益 | 110,344 | 117,836 | 2 | 銷售成本 | (99,221) | (61,237) | 4 | | | | 毛 | 利 | 11,123 | 56,599 | | | | | | | | | 其他收入 | 8,350 | 8,657 | 2 | – | 其他虧損 | 淨 | 額 | (17,215) | (13,385) | 3 | | 銷售、分銷及市場推廣開支 | (13,132) | (5,313) | 4 | 行政開支 | (72,758 ...

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]

Core Viewpoint - *ST Changyao has completed the recruitment and selection of restructuring investors and is awaiting approval from the CSRC and the Supreme Court to enter the formal restructuring phase [1][2] Group 1: Stock Performance - As of June 13, 2025, *ST Changyao closed at 4.51 yuan, up 3.44% from the previous week's 4.36 yuan [1] - The stock reached a weekly high of 4.72 yuan on June 12 and a low of 4.38 yuan on June 9 [1] - The current total market capitalization is 1.58 billion yuan, ranking 67th in the traditional Chinese medicine sector and 5075th in the A-share market [1] Group 2: Restructuring Progress - The restructuring investment agreements have been signed with several investors, including Jia Dao Bo Wen and Hao Wei Biological, as well as financial investors such as Da Han Fund and others [1] - The final restructuring plan has not yet been determined, and the conversion date will be based on the restructuring plan [2] - The industrial investor has not requested asset injection into the company at this stage [2]

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]