Group 1 - TVB's Jade Channel reported that the new drama "Golden Forest," starring Guo Jin'an and Chen Xiaohua, achieved a peak viewership of 18.3 points, corresponding to 1.18 million viewers, making it the current leader among second-tier dramas this year [1] - The weekday program "East Zhang West Wang" reached a peak viewership of 21.4 points, equivalent to 1.38 million viewers [3] - The situational comedy "Homecoming Express" recorded a peak viewership of 19.9 points, translating to 1.29 million viewers [3] Group 2 - The Saturday night show "Tailor Magic Master 2" had a peak viewership of 14.3 points, which corresponds to 920,000 viewers [7] - The special program "Kindness Overflowing Ren'ai Hall" achieved a peak viewership of 11.5 points, equating to 740,000 viewers [7] - The Sunday night program "Voice Show" peaked at 17.5 points, corresponding to 1.13 million viewers [7] - The reality show "Family Heritage 'Protection'" reached a peak viewership of 12.5 points, which corresponds to 810,000 viewers [7]

Market Overview - The television broadcasting sector experienced a decline of 0.19% on the previous trading day, with ST Guangwang leading the drop [1] - The Shanghai Composite Index closed at 3897.03, down 0.94%, while the Shenzhen Component Index closed at 13355.42, down 2.7% [1] Stock Performance - Key stocks in the television broadcasting sector showed varied performance, with Jishi Media rising by 3.55% to close at 3.79, while ST Guangwang fell by 2.23% to close at 4.82 [1][2] - The trading volume and turnover for Jishi Media reached 4.81 million shares and 1.83 billion yuan, respectively [1] Capital Flow - The television broadcasting sector saw a net outflow of 62.45 million yuan from institutional investors, while retail investors experienced a net outflow of 7.69 million yuan [2] - Conversely, speculative funds recorded a net inflow of 70.15 million yuan [2] Individual Stock Capital Flow - Jishi Media had a net inflow of 11.7 million yuan from institutional investors, representing 6.39% of its total trading volume [3] - In contrast, ST Guangwang experienced a net outflow of 14.15 million yuan from institutional investors, accounting for 7.09% of its trading volume [3]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年9月30日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 電視廣播有限公司 | | | 呈交日期: | 2025年10月3日 | | | I. 法定/註冊股本變動 | 不適用 | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 III.已發行股份及/或庫存股份變動詳情 (A). 股份期權（根據發行人的股份期權計劃） | 1. 股份分類 | | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號(如上市) | | 00511 | 說明 | | | | | | | | | 股份期權計劃詳情 | | 上月底結存的股份期權數 | 本月內變動 | | 本月底結存的股份期權數 | 本 ...

Core Viewpoint - Silchester International Investors LLP has reduced its stake in Television Broadcasts Limited (00511.HK) by selling 2.3469 million shares at an average price of HKD 3.4588 per share, resulting in a total transaction value of approximately HKD 8.1175 million. Following this transaction, their ownership percentage decreased from 6.41% to 5.90% [1]. Group 1 - Silchester International Investors LLP sold 2,346,900 shares of Television Broadcasts Limited on September 24, 2025 [1]. - The average selling price per share was HKD 3.4588, leading to a total divestment amount of approximately HKD 8.1175 million [1]. - After the sale, Silchester's total shareholding in the company is now 27,564,200 shares, representing 5.90% of the total issued shares [1].

Group 1 - The television broadcasting sector increased by 1.01% on September 26, with ST Guangwang leading the gains [1] - The Shanghai Composite Index closed at 3828.11, down 0.65%, while the Shenzhen Component Index closed at 13209.0, down 1.76% [1] - ST Guangwang's closing price was 4.82, with a rise of 3.21%, and a trading volume of 134,400 shares, amounting to 63.99 million yuan [1] Group 2 - The television broadcasting sector experienced a net outflow of 370 million yuan from institutional investors, while retail investors saw a net inflow of 407 million yuan [2] - Wireless Media had the largest decline at -10.82%, closing at 41.20, with a trading volume of 98,500 shares and a transaction value of 409 million yuan [2] - The trading data indicates that several companies, including Guizhou Broadcasting and Jishi Media, also faced significant declines in their stock prices [2] Group 3 - The net inflow from retail investors for various companies showed mixed results, with some companies like ST Guangwang and Gohua Cable experiencing net outflows from institutional and speculative investors [3] - The data reveals that ST Guangwang had a net outflow of 1.32 million yuan from institutional investors, while retail investors contributed a net inflow of 227,400 yuan [3] - Overall, the sector's performance reflects a complex interplay of institutional and retail investor behaviors, with notable variations across different companies [3]

Core Viewpoint - Silchester International Investors LLP has reduced its stake in Television Broadcasts Limited (00511) by selling 2.3469 million shares at a price of HKD 3.4588 per share, totaling approximately HKD 8.1175 million, resulting in a new holding of 27.5642 million shares, which represents 5.9% of the company [1] Summary by Category - **Shareholding Changes** - Silchester International Investors LLP sold 2.3469 million shares of Television Broadcasts Limited [1] - The sale price was HKD 3.4588 per share, amounting to a total of approximately HKD 8.1175 million [1] - After the reduction, the new holding is 27.5642 million shares, equating to a 5.9% ownership stake [1]

Financial Performance - Total revenue for the six months ended June 30, 2025, was HKD 1.498 billion, a decrease of HKD 15 million or 1% compared to HKD 1.513 billion in the same period of 2024[10]. - EBITDA improved to HKD 55 million, an increase of HKD 8 million or 17% from HKD 47 million in the previous year[10]. - The loss attributable to shareholders was HKD 108 million, a reduction of HKD 35 million from a loss of HKD 143 million in the same period last year[10]. - For the six months ended June 30, 2025, the company reported a net cash generated from operating activities of HKD 68,532,000, compared to HKD 47,035,000 for the same period in 2024, representing a 45.5% increase[101]. - The company incurred a loss of HKD 108,123,000 during the six months ended June 30, 2025, compared to a loss of HKD 143,457,000 for the same period in 2024, indicating a 24.6% improvement in losses[100]. - The total comprehensive loss for the period, after tax, was HKD 96,807,000, a decrease from HKD 195,240,000 in the previous period, reflecting a 50.5% reduction[100]. Audience and Market Share - The average weekly audience for the company's terrestrial TV channels was 4.9 million, capturing 78% of the market share in Hong Kong[11]. - The company held an 85% market share of TV advertising spending in Hong Kong, up from 84% in the previous year[11]. - The flagship channel Jade Channel holds a 62% audience share among all television channels in Hong Kong, making it the most-watched channel[20]. - The average monthly reach of the company's channels in the Greater Bay Area is 25.5 million home viewers, enhancing its advertising revenue potential[16]. - The average viewership for the flagship channel in Hong Kong reached 22.3 points, with the highest episode achieving 24.8 points[23]. Advertising Revenue - Advertising revenue from terrestrial TV channels increased by 4%, driven by strong advertising activities from blue-chip clients and a 171% revenue growth from the new "B-roll" advertising product[11]. - Overall advertising revenue from digital assets grew by 37%, attributed to the launch of the "TV 3.0" initiative in May 2025[11]. - The advertising revenue from free-to-air channels increased by 4% to HKD 695 million, contributing to an overall segment revenue growth of 1% to HKD 818 million[15]. - The company maintained an 85% market share of television advertising spending in Hong Kong, up from 84% in the previous year[15]. Digital Media and Streaming Services - Monthly active users for the myTV SUPER streaming service reached approximately 2 million, with total monthly views across digital assets exceeding 32 million[11]. - The digital media segment is expected to see continued revenue growth in the second half of 2025, driven by digital advertising income from myTV SUPER and other digital assets[14]. - TVB's digital media segment revenue increased by 9% year-on-year to HKD 191 million, driven by strong performance in digital assets[36]. - myTV SUPER's revenue rose by 7% year-on-year to HKD 174 million, supported by a 41% increase in digital advertising[37]. Financial Position and Assets - Total assets increased by 2% to HKD 5.539 billion, while total liabilities rose by 6% to HKD 3.456 billion[10]. - The company recorded a total net asset value of approximately HKD 2.083 billion and cash reserves of about HKD 869 million as of June 30, 2025[87]. - The company's equity attributable to shareholders decreased to HKD 2,171,481 from HKD 2,264,055, reflecting a decline of 4.1%[94]. - Cash and cash equivalents increased to HKD 869,136 from HKD 647,324, indicating a significant improvement in liquidity[94]. Governance and Shareholder Structure - The company has established six committees under the board, including the Executive Committee and Audit Committee, to oversee various aspects of corporate governance[68]. - The company has confirmed that there are no disagreements between resigning directors and the board, ensuring a smooth transition[67]. - Major shareholders include Shaw Brothers Limited, Young Lion Acquisition Co. Limited, and others, each holding 116,817,527 shares, representing 25.02% of the issued shares[74]. - The company has a significant concentration of ownership, with major shareholders controlling a substantial portion of the equity, which may impact decision-making[69]. Stock Options and Incentives - The company has established a share option scheme approved by shareholders in 2017, aimed at providing long-term incentives to participants, including directors and employees, to enhance shareholder returns[155]. - The stock options granted for 2025 have a vesting period of four years, with no performance targets set for the recipients[78]. - The company recognized share-based payment expenses related to the share option scheme amounting to HKD 4,233,000 for the period, compared to HKD 1,623,000 in 2024[161]. Future Outlook - The company remains cautiously optimistic about the advertising business outlook for the remainder of 2025, despite external uncertainties affecting the Hong Kong economy[14]. - The company expects digital advertising revenue to be a highlight in the second half of 2025 as more advertisers choose its platform[39]. - The company plans to continue its market expansion and product development strategies, leveraging the share option scheme to incentivize key personnel[155].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年8月31日 | 狀態: 新提交 | | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | 公司名稱: | 電視廣播有限公司 | | | 呈交日期: | 2025年9月4日 | | | I. 法定/註冊股本變動 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00511 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 466,961,836 | | 0 | | 466,961,836 | | 增加 / 減少 (-) | | | 0 | | 0 | ...

Group 1: Market Overview - The Hang Seng Index fell by 0.66%, down 165 points, closing at 25,035 points, while the Hang Seng Tech Index decreased by 1.04% [1] - Early trading volume in Hong Kong stocks reached HKD 210.8 billion [1] Group 2: Chip Industry Insights - According to TrendForce, the proportion of external chip suppliers in China's AI server market is expected to drop from 63% in 2024 to 42% by 2025, while local chip suppliers' share may rise to 40%, indicating a trend towards domestic substitution [1] - Chip stocks saw gains, with Shanghai Fudan up 5.79%, SMIC up 8.27%, and Huahong Semiconductor up 4.64% [1] Group 3: Company Performance Highlights - China Cinda's stock rose by 9.74% after reporting a 5.8% year-on-year increase in net profit for the first half of the year, reinforcing its advantage in the non-performing asset management sector [2] - Yadea Holdings' stock increased by over 5% as its net profit for the first half of the year surged nearly 60%, with the new national standard expected to usher in a new industry cycle [3] - CNOOC's stock rose by 4.4% following a mid-term net profit of approximately CNY 69.5 billion, with further potential in overseas exploration [4] - Television Broadcasts' stock fell over 9%, reporting a loss of HKD 108 million for the first half of the year, but expects to achieve positive net profit for the year [5] - Alibaba's stock declined by 3.74% ahead of its first fiscal quarter earnings report, with market concerns regarding the impact of flash sale investments on profits [6] - Lao Pu Gold's stock dropped nearly 4% due to a reduction in shares by the company's incentive platform, although the controlling shareholder did not sell any shares [7] - Smoore International's stock fell over 8%, with a nearly 28% year-on-year decrease in net profit for the first half of the year, affected by increased R&D expenditures [8]

Core Viewpoint - Television Broadcast (00511) experienced a significant decline in stock price, dropping over 11% during trading, with a current price of HKD 3.78, reflecting a trading volume of HKD 14.44 million [1] Financial Performance - For the fiscal year 2025 interim results, the company reported revenue of HKD 1.498 billion, a year-on-year decrease of 1% [1] - The company's attributable loss to shareholders was HKD 108 million, which represents a year-on-year improvement of 24.6% [1] Business Segments - Strong performance was noted in advertising revenue and digital media assets, but this was offset by weak performance in mainland China operations, international business, and e-commerce, which have now been consolidated into a new division [1] - The new division includes terrestrial television broadcasting and other previously classified businesses under Hong Kong television broadcasting [1] Future Outlook - The company anticipates continued year-on-year improvement in EBITDA and expects to achieve positive net profit for the fiscal year ending December 31, based on current market conditions and business momentum [1]