Financial Performance - Total revenue for the fiscal year ending March 31, 2025, decreased by 13% to HKD 803,700,000[38] - Shareholders' loss amounted to HKD 35,700,000 after recognizing a non-cash impairment of investment properties of HKD 5,200,000[38] - The previous fiscal year's results included a one-time gain from property sales of HKD 122,100,000, offset by non-cash impairments of HKD 11,800,000 and a write-down of deferred tax assets of HKD 21,100,000[38] - Excluding non-cash impairments and one-time items, the company's performance improved by HKD 4,500,000 compared to the previous fiscal year due to effective cost control measures[38] - The group recorded revenue of HKD 803,732,000 for the fiscal year ending March 31, 2025, a decrease of 13% compared to HKD 923,894,000 in the previous year[75] - The gross profit was HKD 336,701,000, down 9% from HKD 371,987,000, with a gross margin of 41.9%, an increase from 40.3%[75] - The group reported a net loss attributable to shareholders of HKD 35,689,000, compared to a profit of HKD 54,222,000 in the previous year, marking a 166% decline[75] - Financing income increased by 28% to HKD 15,204,000 from HKD 11,891,000 in the previous year[75] - The group reported an impairment loss of HKD 5,200,000 on investment properties, reflecting a decrease in their recoverable amount[82] - The actual tax rate for the fiscal year was -9.0%, down from 35.5% in the previous year, mainly due to one-time tax asset write-offs and capital gains from property sales[84] - The company reported a loss of HKD 35,689,000 for the year ending April 1, 2024, compared to a profit of HKD 54,222,000 in the previous year, marking a significant decline[160] Market Conditions - The local property market remained sluggish throughout the fiscal year, with prices across various property types declining[38] - The uncertain economic outlook due to global trade tensions and high trade policy uncertainty is expected to slow global growth and increase financial volatility[40] - The local property market faces significant downward pressure amid cautious market sentiment due to unclear economic prospects[40] - The group faced significant challenges in the local economy, with a slowdown in growth and weak performance in the property and retail markets[76] - The competitive landscape remains intense in the banking and online brokerage sectors, with ongoing closures and mergers among small and medium-sized securities firms in Hong Kong[39] Business Strategy and Operations - The company aims to diversify its business strategy to achieve sustainable growth and provide optimal returns to shareholders[15] - The group operates in multiple core business areas, including media, finance, real estate, and quality living[15] - The group continues to enhance its digital business and improve reading platforms to meet changing reader demands[29] - Two-thirds of the group's revenue comes from digital platforms and information and software businesses, indicating significant success in the digitalization strategy[39] - The group successfully captured multiple digital solution projects in the financial sector, including banking, securities brokerage, wealth management, and insurance, leveraging AI and digitalization trends[39] - The group plans to integrate AI applications to enhance consumer interaction, content quality, and operational efficiency, focusing on advanced data analytics and cloud computing[91] - The group is closely monitoring global and local economic and political changes to manage costs and operational efficiency amid a challenging business environment[92] - The group has committed to sustainable operations, emphasizing employee welfare, quality products, and environmental performance[96] Corporate Governance - The board consists of seven members, with three independent non-executive directors, accounting for over one-third of the board[52] - The company adheres to the corporate governance code as per the Hong Kong Stock Exchange Listing Rules[51] - The board is committed to maintaining high standards of corporate governance and ensuring the best interests of shareholders[51] - The company has established service contracts with all executive, non-executive, and independent non-executive directors[53] - The board composition reflects a diverse range of skills and experiences relevant to the company's business needs[53] - The company has adopted a board diversity policy, considering factors such as gender, age, culture, and professional experience to achieve diversity among board members[55] - The board held a total of four meetings during the fiscal year ending March 31, 2025, with all directors actively participating[60] - The Audit Committee conducted two meetings during the fiscal year, reviewing the annual report and financial statements for the year ending March 31, 2025[62] - The Remuneration Committee held two meetings during the fiscal year, reviewing and approving the remuneration and discretionary bonuses for executive directors and senior management[63] - The Nomination Committee held one meeting during the fiscal year, providing recommendations on the reappointment of directors eligible for re-election at the annual general meeting[64] - All independent non-executive directors confirmed their independence in accordance with the listing rules, ensuring the board's integrity[57] - The company encourages continuous professional development for all directors to enhance their knowledge and skills[58] - The board is composed of experienced individuals, with a significant number of non-executive directors ensuring a balanced distribution of power and authority[54] - The company’s governance practices include comprehensive onboarding for new directors to ensure they understand their responsibilities and obligations[58] - The company believes it has complied with the corporate governance code, except for the dual role of the Chairman and CEO held by Mr. Feng Shaobo[122] Financial Position - The group has a cash balance of approximately HKD 459.8 million as of March 31, 2025, maintaining a strong financial position with no debt[40] - As of March 31, 2025, net current assets decreased to HKD 410,400,000 from HKD 483,700,000, primarily due to reduced operating performance[88] - As of March 31, 2025, the group had no debt, with a total interest-bearing debt to total assets ratio of 0%[89] - The cash balance as of March 31, 2025, was approximately HKD 459.8 million, down from HKD 526.5 million as of March 31, 2024[89] - The group maintains a sustainable dividend policy, with an interim dividend of HKD 0.03 per share totaling HKD 12.948 million and a proposed final dividend of HKD 0.05 per share totaling HKD 21.58 million[99] - The group's distributable reserves as of March 31, 2025, were HKD 198.652 million, an increase from HKD 190.777 million in 2024[103] - The company reported a net cash position of HKD 251,157,000, an increase from HKD 212,049,000 in 2024[153] - The company generated a net cash inflow from investing activities of HKD 108,247,000 for the year ending March 31, 2025, compared to HKD 53,417,000 in the previous year, indicating a substantial increase of approximately 102.5%[161] Audit and Compliance - The financial statements have been audited by PwC, which is willing to be reappointed as the company's auditor[123] - The company must assess its ability to continue as a going concern and disclose relevant matters if applicable[139] - The auditor's report does not cover other information included in the annual report, which is the responsibility of the company's directors[137] - The audit identified key audit matters related to the impairment provisions for trade receivables due to the high level of estimation uncertainty and subjectivity involved[135] - The company is responsible for preparing financial statements that are free from material misstatement due to fraud or error, and for maintaining internal controls[139] - The auditor's responsibility is to obtain reasonable assurance that the financial statements are free from material misstatement, whether due to fraud or error[142] - The audit procedures included evaluating management's internal controls related to credit monitoring and assessing the adequacy of the impairment provisions[133] Shareholder Information - The company plans to hold at least four board meetings annually, approximately once per quarter[60] - The group distributed a total of HKD 43,200,000 in dividends for the fiscal year ending March 31, 2024[88] - As of March 31, 2025, the company has a total of 54,359,000 shares held by Mr. Feng Shaobo, representing 12.595% of the issued shares[110] - Mr. Zhu Yulun holds 87,435,000 shares through Sky Vision Investments Limited, accounting for 20.258% of the issued shares[111] - The major shareholders include Sky Vision Investments Limited with 20.258%, Guangzhengxin Yan Charity Foundation Limited with 13.478%, and Golden Rooster Limited with 12.595% of the issued shares[115] - The company maintains a sufficient public float, with over 25% of the issued shares held by the public[121] - The company has not entered into any management or administrative contracts affecting its overall or major business operations during the year[117]

Financial Performance - The company's total revenue for the year ended March 31, 2025, was HKD 803,732,000, a decrease of 13% from HKD 923,894,000 in the previous year[4] - Gross profit for the same period was HKD 336,701,000, down 9.5% from HKD 371,987,000[4] - The company reported a net loss of HKD 35,325,000 for the year, compared to a profit of HKD 54,972,000 in the previous year[5] - Operating loss was HKD 47,608,000, a significant decline from an operating profit of HKD 73,393,000 in the prior year[4] - Total revenue for the year 2025 was HKD 803,732,000, a decrease of 12.99% from HKD 923,894,000 in 2024[14] - Advertising revenue decreased to HKD 376,058,000 in 2025 from HKD 458,471,000 in 2024, representing a decline of 17.95%[14] - The media segment generated revenue of HKD 535,589,000 in 2025, down from HKD 625,871,000 in 2024, a decrease of 14.43%[16] - The financial news and software segment reported revenue of HKD 272,122,000 in 2025, compared to HKD 302,625,000 in 2024, a decline of 10.09%[16] - The company reported a net loss of HKD 35,689,000 for the year 2025, compared to a profit of HKD 54,222,000 in 2024[21] - Basic loss per share for 2025 was HKD 0.083, while basic earnings per share for 2024 was HKD 0.126[21] - Total expenses for 2025 were HKD 684,057,000, down from HKD 748,000,000 in 2024, a reduction of 8.55%[18] Assets and Equity - Total assets decreased to HKD 855,622,000 from HKD 935,340,000, indicating a reduction of approximately 8.5%[6] - The company’s equity attributable to shareholders decreased to HKD 807,788,000 from HKD 886,186,000, a decline of about 8.8%[6] - Trade receivables totaled HKD 120,496,000 in 2025, a decrease from HKD 135,962,000 in 2024[23] - The company’s non-current assets in Hong Kong amounted to HKD 441,431,000 in 2025, slightly down from HKD 448,714,000 in 2024[17] - As of March 31, 2025, the group's cash balance was HKD 459,800,000, down from HKD 526,500,000 as of March 31, 2024[37] - The group's net current assets decreased by HKD 73,300,000 to HKD 410,400,000, primarily due to reduced operating performance during the fiscal year[36] Cost Management and Efficiency - Employee costs accounted for approximately 57% of total operating costs, remaining consistent with the previous fiscal year[30] - The company plans to continue optimizing its cost structure and reallocating resources to enhance operational efficiency[30] - The company recognized an impairment loss of HKD 5,225,000 on investment properties for the fiscal year ending March 31, 2025, which is a 56% decrease from HKD 11,847,000 in the previous year[26] - The finance communications, information, and software segment reported a net profit decrease of HKD 11,700,000 due to intense competition in the securities brokerage industry and a weak advertising market[35] Future Strategies - The company plans to focus on new product development and market expansion strategies in the upcoming fiscal year[4] - The group plans to continue investing in AI and digital platforms to enhance customer experience and expand its market share in digital advertising[34] - The group will maintain a sustainable dividend policy and sufficient liquidity to support strategic business investments and future growth opportunities[39] - The group will closely monitor global and local economic and political changes while managing costs and operational efficiency prudently[39] Governance and Compliance - The company has complied with the corporate governance code as of March 31, 2025, but has appointed the same individual, Mr. Feng Shaobo, as both Chairman and CEO, which the board believes enhances efficiency in developing long-term business strategies[44] - All directors have confirmed adherence to the standard code for securities trading as of March 31, 2025[45] - The audit committee has reviewed the audited financial statements for the year ending March 31, 2025, and the figures in the preliminary announcement align with the audited financial statements[46] - The board of directors includes three executive directors, one non-executive director, and three independent non-executive directors as of June 13, 2025[48] Dividends - The company proposed a final dividend of HKD 0.05 per share for 2025, down from HKD 0.07 per share in 2024[22] - The board proposed a final dividend of HKD 0.05 per share, totaling HKD 21,580,000, subject to shareholder approval at the upcoming annual general meeting[41]

Financial Performance - Total revenue for the six months ended September 30, 2024, was HKD 407,664,000, a decrease of 15.6% compared to HKD 483,103,000 in the same period of 2023[16] - The company reported a loss of HKD 33,611,000 for the six months ended September 30, 2024, compared to a loss of HKD 19,817,000 in the same period of 2023[41] - The company's revenue for the six months ended September 30, 2024, was HKD 407,664,000, a decrease of 16% compared to HKD 483,103,000 in the same period last year[69] - The group reported a loss attributable to shareholders of HKD 33,700,000, an increase of HKD 13,400,000 compared to the loss of HKD 20,300,000 for the six months ended September 30, 2023[92] - The group recorded a net loss of HKD 33,611,000 for the six months, compared to a net loss of HKD 19,817,000 in the prior year, indicating a worsening financial position[159] Revenue Breakdown - Advertising revenue decreased to HKD 189,688,000 from HKD 243,340,000, representing a decline of 22.1%[16] - The company’s service revenue was HKD 204,072,000, down from HKD 217,962,000, a decrease of 6.4%[16] - Service revenue from the financial news agency, information, and software business decreased by 8% due to weak local stock market performance[73] - Advertising revenue decreased by HKD 53,600,000 or 22% to HKD 189,700,000, primarily due to the integration of magazines into digital platforms and a weak local advertising market[87] - Over 65% of the group's total revenue during the period came from digital platforms and information and software businesses, indicating significant progress in the digitalization strategy[88] Operating Performance - Gross profit decreased by 19% to HKD 154,149,000, with a gross margin of 37.8%, down from 39.6%[69] - Operating loss increased by 102% to HKD 40,973,000, compared to HKD 20,334,000 in the previous year[69] - The media segment recorded an operating loss of HKD 40,300,000, an increase of HKD 2,100,000 compared to the previous year's loss, attributed to a decline in advertising revenue due to market conditions[101] Cash and Liquidity - The cash and cash equivalents balance as of September 30, 2024, was HKD 681,639,000, compared to HKD 734,500,000 as of April 1, 2023[9] - The group’s cash and cash equivalents totaled HKD 451,561,000 as of September 30, 2024, compared to HKD 387,130,000 a year earlier, representing a 16.6% increase[147] - The group’s financial position remains robust with a cash flow of approximately HKD 451,600,000[108] - The group had no borrowings as of September 30, 2024[105] Costs and Expenses - Employee costs accounted for approximately 58% of total operating costs, decreasing by HKD 30,200,000 or 10% compared to the previous year[74] - Employee costs decreased to HKD 259,654,000 from HKD 289,832,000, a reduction of 10.4% year-on-year[157] Dividends and Shareholder Returns - The company declared an interim dividend of HKD 0.03 per share, totaling HKD 12,948,000, unchanged from the previous year[62] - The interim dividend declared is HKD 0.03 per share, totaling HKD 12,948,000, consistent with the previous year[119] - The company paid a final dividend of HKD 30,212,000 to shareholders, unchanged from the previous period[168] Assets and Liabilities - The company’s total assets as of September 30, 2024, were HKD 822,605,000, compared to HKD 871,202,000 as of April 1, 2023[9] - The company’s liabilities increased to HKD 844,675,000 as of September 30, 2024, from HKD 892,422,000 as of April 1, 2023[9] - Total assets decreased to HKD 875,066,000 from HKD 935,340,000, reflecting a decline of 6.4% year-on-year[164] - The group’s total equity attributable to shareholders decreased to HKD 822,605,000 from HKD 886,186,000, a decline of 7.2% year-on-year[164] Financial Ratios - The basic and diluted loss per share for the period was HKD 7.81, compared to HKD 4.70 in the previous year, indicating a significant increase in losses per share[159] Future Outlook and Strategy - The group plans to continue investing in digital platforms to expand its market share in digital advertising[101] - The group will continue to invest in talent, innovation, and technology to meet the increasing demand for innovative digital solutions[76] - The group aims to continue investing in digital platforms and AI technology to enhance customer interaction and operational efficiency[108] Accounting and Compliance - The company has not adopted any new or revised accounting standards during the reporting period[170] - Management has not identified any significant impact from the new accounting standards on the company's financial performance and position[171] - The company is currently evaluating the impact of new accounting standards on its operations[170]

Financial Performance - Revenue for the six months ended September 30, 2024, was HKD 407,664 thousand, a decrease of 15.6% compared to HKD 483,103 thousand in the same period of 2023[4] - Gross profit for the period was HKD 154,149 thousand, compared to a gross loss of HKD 291,690 thousand in the previous year[4] - Operating loss for the six months was HKD 40,973 thousand, a significant decline from an operating profit of HKD 944 thousand in the same period last year[4] - The total comprehensive loss for the period was HKD 33,269 thousand, compared to a total comprehensive loss of HKD 20,343 thousand in the previous year[7] - The company reported a net loss of HKD 33,711,000 for the six months ended September 30, 2023, compared to a loss of HKD 20,265,000 for the same period in the previous year[19] - The group recorded a loss attributable to shareholders of HKD 33.7 million for the six months ended September 30, 2024, an increase of HKD 13.4 million compared to the same period last year[77] Revenue Breakdown - Advertising revenue for the period was HKD 189,688,000, while publishing revenue was HKD 13,904,000, and service revenue was HKD 204,072,000[35] - The media segment generated revenue of HKD 273,851,000, down from HKD 330,772,000 in the previous year, indicating a decrease of about 17.2%[41] - Advertising revenue fell by HKD 53,600,000 or 22% to HKD 189,688,000, primarily due to the integration of magazines into digital platforms and the cessation of print versions[72] - Service revenue decreased by 6% to HKD 204,072,000, with over 65% of total revenue coming from digital platforms and information services[73] Operational Efficiency - The company continues to focus on improving operational efficiency and exploring new market opportunities to enhance future performance[4] - The group plans to continue monitoring and optimizing its cost structure to improve operational efficiency and cost-effectiveness[75] - The number of employees decreased to 1,054 as of September 30, 2024, from 1,234 a year earlier, reflecting a focus on optimizing workforce efficiency[84] Assets and Liabilities - Non-current assets as of September 30, 2024, amounted to HKD 454,134 thousand, slightly increasing from HKD 451,647 thousand as of March 31, 2024[10] - Current assets decreased to HKD 643,142 thousand from HKD 716,948 thousand, reflecting a reduction in cash and cash equivalents[10] - Total equity attributable to shareholders was HKD 822,605 thousand, down from HKD 908,156 thousand as of March 31, 2024[13] - Trade receivables as of September 30, 2024, totaled HKD 132,983,000, with a provision for impairment of HKD 3,874,000[11] - Trade payables as of September 30, 2024, amounted to HKD 9,798,000, with overdue amounts categorized as follows: HKD 20,213,000 over 90 days[54] Cash Flow and Financing - Cash and cash equivalents decreased by HKD 59,545,000, resulting in a total of HKD 152,846,000 as of September 30, 2023[23] - Operating cash outflow for the period was HKD 46,317,000, compared to HKD 22,750,000 in the previous year[23] - The group’s cash balance was HKD 451.6 million as of September 30, 2024, down from HKD 526.5 million as of March 31, 2024[80] - The company incurred interest expenses of HKD 349,000 during the period, compared to HKD 22,569,000 in the previous year[23] - The group had no borrowings as of September 30, 2024, indicating a strong balance sheet position[81] Dividends - The company paid a final dividend of HKD 30,212,000 during the period[23] - The group declared an interim dividend of HKD 0.03 per share, totaling HKD 12,948,000, consistent with the previous year's interim dividend[49] - The group announced an interim dividend of HKD 0.03 per share, totaling HKD 12.948 million, consistent with the previous year[86] Future Outlook - The company plans to continue investing in digital platforms and artificial intelligence technology to enhance business innovation and operational efficiency[83] - The group aims to maintain a sustainable dividend policy and sufficient liquidity to support strategic business investments and growth opportunities[83] Taxation - The effective tax rate for the period remained at 16.5%, consistent with the previous year, with current tax expenses totaling HKD 2,991,000[46] Governance - The company established a nomination committee in 2005, consisting of three independent non-executive directors[96] - The board of directors includes three executive directors and three independent non-executive directors as of the announcement date[96]

Audit and Compliance - The total audit fees incurred for the fiscal year 2023/2024 amounted to HKD 2,720,000, which was approved by the audit committee and the board [20]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations [5]. - The audit committee held two meetings during the fiscal year, reviewing the annual report and interim results [14]. - The company has ensured that all independent non-executive directors have confirmed their independence as per the listing rules [9]. - The company has not entered into any management or administrative contracts involving the overall or major parts of its business during the year [60]. - There are no significant shareholders (owning more than 5% of the company's equity) with interests in major suppliers or customers [61]. Board and Governance - The board has adopted a diversity policy aimed at achieving diversity in its composition, considering factors such as gender, age, and professional experience [8]. - All directors attended multiple seminars and meetings relevant to their roles and responsibilities during the year [11]. - The remuneration committee was established in 2005, with its responsibilities outlined in accordance with the corporate governance code [15]. - The nomination committee reviewed the board's composition and provided recommendations for reappointment of directors [16]. - The board believes that the dual role of the chairman and CEO held by the same individual enhances the effectiveness and efficiency of the company's long-term strategy [7]. - The board believes that the dual role of the Chairman and CEO held by Mr. Feng Shaobo enhances the effectiveness and efficiency of long-term business strategy development and execution [64]. Financial Performance - The group recorded revenue of HKD 923,900,000 for the fiscal year ending March 31, 2024, a decrease of HKD 99,000,000 or 10% compared to the previous fiscal year [29]. - Shareholders' profit increased from HKD 27,500,000 to HKD 54,200,000, including one-time gains from property sales, offset by non-cash impairments of certain non-current assets [29]. - Advertising revenue from digital platforms and print publications decreased by HKD 91,200,000 or 17%, totaling HKD 458,500,000, due to a weak local advertising market [30]. - Over 60% of total revenue came from digital platforms and information and software businesses, with continued investment in quality content and innovative technology [31]. - The group completed the sale of a property for HKD 135,000,000, recording a revenue of HKD 122,100,000, which strengthened the group's financial position [33]. - The group maintained a cash balance of approximately HKD 526,500,000 as of March 31, 2024, with no debt reported [41]. - The group declared a total dividend of HKD 43,200,000 for the fiscal year ending March 31, 2023 [38]. - The annual profit for the year ending March 31, 2024, was HKD 54,972,000, compared to HKD 28,677,000 for the previous year, representing an increase of 91.7% [100]. - The total comprehensive income for the year was HKD 58,894,000, up from HKD 28,082,000, indicating a growth of 109.5% [100]. - The revenue for the year was HKD 923,894,000, a decrease from HKD 1,022,922,000, reflecting a decline of 9.7% [120]. - The gross profit margin decreased to 40.3% from 41.3%, indicating a slight decline in profitability [120]. - Operating profit increased to HKD 73,393,000 from HKD 34,527,000, marking a growth of 112.5% [120]. - The net financing income rose to HKD 11,891,000 from HKD 5,646,000, an increase of 110.0% [120]. - The company reported a net impairment loss of HKD 11,847,000 on non-current assets, which was not present in the previous year [120]. - The earnings per share attributable to shareholders increased to HKD 54,222,000 from HKD 27,458,000, reflecting a growth of 97.5% [120]. - The company recognized a tax expense of HKD 30,312,000, compared to HKD 11,496,000 in the previous year, indicating an increase of 164.5% [120]. Assets and Liabilities - Total assets increased from HKD 1,197,222 thousand in 2023 to HKD 1,203,496 thousand in 2024, reflecting a growth of approximately 0.52% [124]. - Cash and cash equivalents decreased from HKD 215,509 thousand in 2023 to HKD 212,049 thousand in 2024, a decline of about 1.15% [129]. - Trade receivables decreased from HKD 169,907 thousand in 2023 to HKD 132,358 thousand in 2024, representing a decrease of approximately 22.08% [124]. - Current liabilities decreased from HKD 273,571 thousand in 2023 to HKD 233,255 thousand in 2024, a reduction of about 14.74% [124]. - Total equity increased from HKD 892,422 thousand in 2023 to HKD 908,156 thousand in 2024, marking an increase of approximately 1.97% [149]. - The company paid a final dividend of HKD 30,212 thousand in 2024, up from HKD 28,054 thousand in 2023, reflecting a growth of about 7.69% [129]. - Deferred tax liabilities increased from HKD 18,867 thousand in 2023 to HKD 19,261 thousand in 2024, a rise of about 2.08% [149]. Cash Flow and Investments - Net cash used in operating activities was HKD (2,592) thousand in 2024 compared to HKD 76,826 thousand in 2023, indicating a significant decline in cash flow from operations [129]. - Investment activities generated a net cash inflow of HKD 53,417 thousand in 2024, contrasting with a net cash outflow of HKD (170,333) thousand in 2023 [129]. - The company reported a significant increase in bank interest received, rising from HKD 6,142 thousand in 2023 to HKD 12,174 thousand in 2024, an increase of approximately 97.83% [129]. Strategic Focus - The company plans to closely monitor global and local economic and political changes while managing costs and operational efficiency [41]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth [151]. - The company is focusing on enhancing its service offerings and improving operational efficiency to boost revenue streams [151]. Accounting Policies - The financial statements are prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance, with a focus on historical cost accounting [77][78]. - The company adopted several revised standards effective from April 1, 2023, which are not expected to have a significant impact on the financial performance or position [80]. - The company is currently evaluating the potential impact of several accounting standards revisions that have been issued but not yet adopted [81]. - The company has implemented a simplified approach for trade receivables, recognizing expected lifetime losses upon initial recognition [72]. - The group recognizes trade and other receivables at fair value unless they contain significant financing components, measured subsequently at amortized cost using the effective interest method [190]. - Current income tax is calculated based on the tax laws enacted or substantively enacted in the countries where the company and its subsidiaries operate and generate taxable income [191]. - Deferred tax is recognized using the liability method for temporary differences between the tax bases of assets and liabilities and their carrying amounts in the consolidated financial statements [192]. - The company does not recognize deferred tax liabilities and assets for temporary differences related to the carrying amount and tax base of overseas investments, as it can control the timing of reversal [192]. - Revenue is measured at the fair value of the consideration received or receivable for services provided in the ordinary course of business [196]. - Contract liabilities are recognized as deferred revenue when customers pay or are due to pay consideration before the group recognizes the related revenue [198]. - Revenue from service provision includes income from information subscription services, software solutions, and related maintenance services, recognized over time as the benefits are consumed [199]. - If a contract includes monthly fees, revenue is recognized based on the amount the group is entitled to invoice [200].

Financial Performance - Total revenue for the year ended March 31, 2024, was HKD 923,894,000, a decrease of 9.7% from HKD 1,022,922,000 in the previous year[4] - Gross profit for the same period was HKD 371,987,000, down 12.0% from HKD 422,806,000[4] - Operating profit increased significantly to HKD 73,393,000, compared to HKD 34,527,000 in the previous year, representing a growth of 112.5%[4] - Net profit for the year was HKD 54,972,000, up 91.7% from HKD 28,677,000 in the previous year[4] - Basic and diluted earnings per share rose to HKD 12.56, compared to HKD 6.36 in the previous year, an increase of 97.0%[4] - The company reported a total comprehensive income of HKD 58,894,000, compared to HKD 28,082,000 in the previous year, reflecting a growth of 109.5%[5] - Annual profit for the year was HKD 54,972,000, representing a 92% increase compared to HKD 28,677,000 in the previous year[30] Revenue Breakdown - Advertising revenue decreased to HKD 458,471,000, down 16.6% from HKD 549,702,000[16] - Service revenue slightly increased to HKD 425,146,000, up 0.2% from HKD 422,326,000[16] - Publishing revenue decreased by 21% to HKD 40,300,000, attributed to reduced print publication volumes in the market[33] - Service revenue remained stable at HKD 425,146,000, with a 4% decline in revenue from financial news services due to a weak local stock market[33] - Over 60% of total revenue for the fiscal year came from digital platforms and information software services, indicating a strategic focus on digital growth[35] Asset and Liability Management - Total assets as of March 31, 2024, were HKD 935,340,000, compared to HKD 923,651,000 in the previous year[7] - The total amount of non-current assets was HKD 448,714,000, a decrease from HKD 484,191,000 in 2023[19] - Trade receivables totaled HKD 135,962,000, down from HKD 178,286,000 in 2023, with a provision for impairment of HKD 3,604,000[25] - As of March 31, 2024, the group's net current assets increased by HKD 68.2 million to HKD 483.7 million, attributed to proceeds from property sales offsetting operational performance declines[44] - The group's cash balance as of March 31, 2024, was HKD 526.5 million, up from HKD 464.2 million as of March 31, 2023[45] - The group has no debt as of March 31, 2024, maintaining a strong financial position to support strategic investments and dividend policies[47] Operational Efficiency - Total operating expenses decreased by 8% to HKD 551,907,000, while sales and distribution expenses decreased by 3% to HKD 196,472,000[30] - The company plans to continue investing in quality content, innovative technology, and digital talent to ensure sustainable growth and long-term business development[35] - The group plans to integrate more AI technology into its operations to enhance user experience and operational efficiency, aiming for greater value creation[46] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange listing rules, with the exception of the separation of roles between the Chairman and the CEO, which are held by the same individual, Mr. Feng Shaobo[54] Governance and Compliance - The company confirms compliance with the standard code for securities trading by directors as outlined in the listing rules, for the fiscal year ending March 31, 2024[55] - The Audit Committee, established in 2005, has reviewed the audited annual performance for the fiscal year ending March 31, 2024[56] - The Remuneration Committee, also established in 2005, has defined its responsibilities and includes independent non-executive directors[57] - The Nomination Committee, formed in 2005, comprises three independent non-executive directors and has established its responsibilities[59] - The board of directors includes three executive directors and three independent non-executive directors as of June 24, 2024[61] Employee and Dividend Information - The company plans to propose a final dividend of HKD 0.07 per share, totaling HKD 30,212,000, at the upcoming annual general meeting[24] - The group has proposed a final dividend of HKD 0.07 per share, totaling HKD 30.2 million, subject to shareholder approval[50] - The number of employees decreased from 1,340 to 1,184 as of March 31, 2024, reflecting the company's focus on maintaining competitive compensation and benefits[48] Market Challenges - Non-current asset impairment loss amounted to HKD 11,847,000, reflecting ongoing economic uncertainties affecting the media sector[27] - Advertising revenue fell by HKD 91,200,000 or 17% to HKD 458,500,000, primarily due to a weak local advertising market influenced by the downturn in the stock and property markets[32] - The media division recorded a loss, increasing by HKD 24.7 million after excluding the one-time employment support subsidy of HKD 27.4 million from the previous fiscal year, primarily due to weak advertising revenue[41] - The net profit of the financial communications, information, and software division decreased by HKD 7.8 million after excluding a one-time employment support subsidy of HKD 5.9 million, mainly due to a decline in digital platform advertising revenue[42] - The effective tax rate increased to 35.5% from 28.6% in the previous fiscal year, primarily due to the write-off of deferred tax assets[39]

Financial Performance - The group reported a loss attributable to shareholders of HKD 20,265,000 for the period, compared to a profit of HKD 35,117,000 in the same period last year[20]. - The group reported a net loss attributable to shareholders of HKD 20,300,000 for the six months ended September 30, 2023, a decrease of HKD 22,100,000 compared to the net profit after excluding a one-time employment support subsidy of HKD 33,300,000 in the same period last year[57]. - The group reported a total revenue of HKD 483.1 million, down from HKD 515.2 million in the previous year, reflecting a decrease of approximately 6.2%[112]. - The group's revenue for the six months ended September 30, 2023, decreased by HKD 32.1 million or 6% to HKD 483.1 million compared to the same period last year[172]. - The operating loss for the period was HKD 20.3 million, compared to an operating profit of HKD 40.4 million in the previous year[112]. - The net loss attributable to shareholders was HKD 20.3 million, compared to a profit of HKD 35.1 million in the previous year[112]. - The gross profit margin for the group was 39.6%, a decline of 2.5 percentage points from the previous year, indicating a need for improved cost efficiency[31]. - The gross profit margin for the six months ended September 30, 2023, was 39.6%, down from 42.1% in the previous year[199]. - The group recorded net financing income of HKD 5,609,000 for the six months ended September 30, 2023, compared to HKD 1,572,000 in the previous year[41]. - Financing income increased by 257% to HKD 5.6 million compared to the previous period[199]. Cash and Equity Position - As of September 30, 2023, the group's cash and cash equivalents totaled HKD 387,130,000, down from HKD 407,456,000 as of September 30, 2022, representing a decrease of approximately 3.2%[5]. - The group's cash balance as of September 30, 2023, was approximately HKD 387,100,000, indicating a solid financial position[1]. - The total equity of the group as of September 30, 2023, was HKD 820,199,000, down from HKD 871,202,000 as of March 31, 2023[34]. - The total equity attributable to shareholders decreased to HKD 820.2 million from HKD 871.2 million in the previous year[116]. - The group had no borrowings as of September 30, 2023[95]. - The group’s current ratio was 2.47 times as of September 30, 2023, slightly down from 2.52 times as of March 31, 2023[34]. - The group reported a basic and diluted loss per share of HKD 4.70, compared to earnings of HKD 8.14 per share in the previous year[112]. - The company reported a net decrease in cash and cash equivalents of 8,751,000 HKD, compared to a much larger decrease of 169,888,000 HKD in the previous period[119]. Revenue Sources and Trends - The group's service revenue increased by 4% to HKD 218,000,000 compared to the same period last year, primarily driven by growth in the digital platform services[30]. - The group's advertising revenue decreased from HKD 279,621,000 to HKD 243,340,000, reflecting a decline of approximately 13%[13]. - Advertising revenue decreased by HKD 36,300,000 or 13% to HKD 243,300,000, primarily due to a sluggish local advertising market influenced by the downturn in the local stock and property markets[54]. - Digital advertising revenue surpassed print advertising revenue, becoming the largest source of advertising income for the group during the review period[54]. - Over 60% of the group's total revenue for the six months ended September 30, 2023, came from digital platforms and information and software businesses, indicating significant progress in the digitalization strategy[94]. Operational Efficiency and Cost Management - The group plans to closely monitor economic and political changes while prudently managing costs and operational efficiency[1]. - Employee costs, including director and CEO remuneration, were 289,832,000 HKD, slightly up from 289,624,000 HKD in the previous period[133]. - Employee costs accounted for approximately 57% of the group's total operating costs, remaining consistent with the previous year[175]. - The media division recorded a loss of HKD 38.2 million, an increase of HKD 21.6 million compared to the same period last year after excluding a one-time employment support subsidy[85]. - The group experienced a foreign exchange loss of HKD 526,000 during the period, contributing to the overall loss reported[4]. - The group faced various financial risks, including market risk (foreign exchange and interest rate risks), credit risk, and liquidity risk[154]. Future Plans and Investments - The group plans to continue investing in digital platforms and quality content creation, aiming for sustainable growth and long-term business development[1]. - The group plans to continue investing in digital platforms to enhance customer experience and increase market share in digital advertising[85]. - The group acquired a property for office use at a cost of approximately HKD 15,700,000, funded by matured time deposits[58]. Dividends - The board declared an interim dividend of HKD 0.03 per share, totaling HKD 12,948,000, consistent with the previous year[61]. - The company declared a final dividend of 7.0 HKD per share, totaling 30,212,000 HKD, an increase from 28,054,000 HKD in the previous year[136].

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分內容 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。 （於開曼群島註冊成立之有限公司） 00423 （股份代號： ） 中期業績公告 截至二零二三年九月三十日止六個月 香港經濟日報集團有限公司（「本公司」）董事謹此公布本公司及其附屬公司（統稱「本集 團」）截至二零二三年九月三十日止六個月之未經審核中期業績。該等未經審核業績已由 本公司審核委員會進行審閱。 中期綜合收益表摘要 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 3 483,103 515,229 銷售成本 5 (291,690) (298,147) 毛利 191,413 217,082 銷售及分銷開支 5 (104,098) (101,414) 一般及行政開支 5 (109,158) (108,414) 財務資產減值撥回╱（減值虧損）淨額 565 (1,408) 其 他收入 4 944 34,598 ...

Financial Performance - For the fiscal year ending March 31, 2023, the company's publishing revenue decreased by 18% to HKD 50.9 million from HKD 61.7 million in the previous year due to reduced circulation of printed publications, particularly magazines [16]. - The gross profit margin declined by 3.0 percentage points to 41.3% from 44.3% in the previous fiscal year, with management focusing on improving cost structure and operational efficiency [18]. - The group's net profit attributable to shareholders was HKD 27.5 million, a decrease of HKD 5.5 million compared to the previous fiscal year, resulting in a slight drop in net profit margin to 2.8% [20]. - The group's revenue slightly decreased by 2% to HKD 1.0229 billion for the fiscal year ending March 31, 2023 [100]. - The company's gross profit was HKD 422,806,000, reflecting an 8% decline, with a gross margin of 41.3% [160]. - Operating profit decreased by 33% to HKD 34,527,000, while net financing income increased significantly by 406% to HKD 5,646,000 [160]. - The net profit attributable to shareholders was HKD 27,458,000, down 17% from HKD 33,017,000 in the previous year, resulting in a net profit margin of 2.8% [160]. - Service revenue remained stable at HKD 422,326,000, while advertising revenue decreased by 2% to HKD 549,702,000 [162][163]. Cash Flow and Liquidity - The cash balance as of March 31, 2023, was HKD 464.2 million, compared to HKD 461.0 million as of March 31, 2022, indicating stable liquidity [24]. - The company reported a net cash outflow from investing activities of HKD 170.3 million, which included HKD 25.8 million for the purchase of property, plant, and equipment [23]. - The group had no debt as of March 31, 2023, indicating a strong balance sheet with total liabilities at zero [140]. - The group's cash and cash equivalents totaled HKD 215,509,000, with fixed deposits over three months amounting to HKD 248,649,000, leading to a total of HKD 464,158,000 [188]. - The group's current assets decreased slightly to HKD 415,500,000, primarily due to renewed office lease agreements [167]. - The group’s cash flow from operating activities showed a net book value of HKD 41,000, down from HKD 184,000 in the previous year [200]. Investment and Strategic Focus - The company plans to continue investing in digital solutions and technology to meet the increasing demand for innovative digital solutions across various sectors, including banking and wealth management [21]. - The group will continue to explore market expansion opportunities and new product development in response to evolving market conditions [75]. - The group plans to manage its financial position and cash flow prudently to support investment plans and dividend policies amid challenging operational and economic environments [141]. - The group will continue to invest in enhancing quality content, innovative technology, and developing digital talent for sustainable growth [134]. - The group is focused on enhancing its digital technology capabilities through cloud computing and intelligent promotion strategies [75]. Digital Transformation and Advertising - The group experienced strong growth in digital advertising, becoming the largest source of advertising revenue due to accelerated digital transformation driven by the pandemic [75]. - The digital advertising revenue from the recruitment advertising platform reached a record high due to a tight local labor market [133]. - The group has been actively developing digital businesses to meet changing reader demands and enhance content delivery [53]. - The group continues to invest in talent and technology to meet the increasing demand for innovative digital solutions [57]. - The group has implemented new promotional strategies to accelerate the growth of digital advertising revenue [75]. Governance and Management - The board of directors held five meetings during the fiscal year, including one postponed meeting from the previous year [1]. - The board consists of seven directors, with three independent non-executive directors, accounting for over one-third of the board members [109]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange listing rules [108]. - The audit committee was established in 2005, comprising non-executive and independent non-executive directors, ensuring oversight of financial reporting [118]. - The company encourages continuous professional development for all directors to enhance their knowledge and skills [114]. - The attendance record for board meetings shows full participation from most directors, indicating strong engagement [116]. Economic Environment - The macroeconomic environment remains challenging, with global economic growth expected to slow further due to high interest rates and tightening monetary policies [76]. - The local stock market experienced low levels in both index and trading volume due to pandemic and tightening financial conditions [56]. - Despite challenges, the group's economic situation showed slight improvement in Q1 2023, supported by the recovery of inbound tourism and increased consumer activity [76]. - Consumer sentiment showed signs of recovery in Q1 2023, despite a slow overall recovery pace [56]. - The group is aware of the impact of geopolitical tensions and their effect on global and local economic recovery [76].

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分內容 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。 （於開曼群島註冊成立之有限公司） 00423 （股份代號： ） 澄清公告 茲提述香港經濟日報集團有限公司（「本公司」）日期為二零二三年六月二十六日有關本公 司及其附屬公司截至二零二三年三月三十一日止年度全年業績的公告（「該公告」）。除另 有指明者外，本公告所用的詞彙與該公告採納的具相同涵義。 董事會謹此澄清，須待本公司股東於二零二三年八月三日舉行之應屆股東週年大會上批 准後方告作實的建議末期股息，將派付予二零二三年八月十六日（並非二零二三年 八月十一日）名列本公司股東名冊之股東。 除上文披露者外，該公告的所有其他資料不變。 承董事會命 香港經濟日報集團有限公司 執行董事兼公司秘書 王清 ...