Financial Performance - Revenue for the year ended December 31, 2024, was RMB 612,517,000, a decrease of 19% compared to RMB 759,836,000 in 2023[12] - Operating profit increased by 23% to RMB 122,072,000 from RMB 99,064,000 year-on-year[12] - Profit attributable to equity shareholders rose by 11% to RMB 106,961,000, compared to RMB 96,778,000 in the previous year[12] - Basic and diluted earnings per share increased by 10% to RMB 0.232 from RMB 0.210[12] - Proposed final dividend per share increased by 20% to HKD 0.11 from HKD 0.092, and special dividend increased by 243% to HKD 0.24 from HKD 0.07[12] - Television media resource operations revenue decreased by 30% to RMB 342,802,000 from RMB 489,352,000[12] - Digital marketing and online media revenue increased by 12% to RMB 131,216,000 from RMB 117,608,000[12] - Rental income decreased by 13% to RMB 35,296,000 from RMB 40,360,000[12] - Content operation revenue was RMB 34,350 thousand, down about 47% from RMB 64,496 thousand the previous year, primarily due to budget cuts from some clients[42] - Other integrated communication services revenue increased by approximately 43% to RMB 68,853 thousand from RMB 48,020 thousand, driven by commission income from media procurement[42] Market Trends and Challenges - The advertising industry continues to face pressure and challenges due to weak domestic market expectations and insufficient consumer demand[29] - In 2024, advertising spending increased by 1.6% year-on-year, indicating a fluctuating market performance within a reasonable range[34] - The overall market performance in 2024 did not meet expectations, prompting advertisers to reassess their growth strategies and prioritize operational efficiency[34] Business Strategy and Innovation - The company aims to enhance its brand marketing capabilities centered on cross-screen creative communication services to provide diverse creative products and communication services[34] - The company has established an imaging technology development department to explore innovations in generative artificial intelligence (AIGC) to meet changing customer demands[31] - The company is focusing on optimizing its business structure and enhancing operational efficiency to adapt to market changes and improve competitiveness[31] - The company is committed to providing one-stop solutions for clients, including brand positioning, visual creativity, communication strategies, and media execution[29] - The company is actively tracking cutting-edge technologies such as artificial intelligence and big data to respond to rapid market changes and improve advertising effectiveness[30] Corporate Governance - The company is committed to maintaining high standards of corporate governance to protect shareholder interests[89] - The board of directors consists of 5 executive directors and 5 independent non-executive directors, ensuring a balance of power[94] - The company has fully complied with all corporate governance code provisions as of December 31, 2024, with minor deviations noted[89] - The independent non-executive directors have confirmed their independence and compliance with the relevant standards throughout the year[96] - The chairman and CEO roles are held by different individuals to ensure a clear division of responsibilities[95] - The company has implemented a comprehensive risk management framework to monitor management performance and compliance with statutory regulations[97] Environmental, Social, and Governance (ESG) Initiatives - The environmental, social, and governance (ESG) report aims to disclose the company's practices and performance in sustainability for the fiscal year ending December 31, 2024[132] - The company adopts the principles and standards of the ESG guidelines to establish a robust governance structure[133] - The report covers the core business operations, including television advertising, content management, and digital marketing services[134] - The board is fully responsible for ensuring the effectiveness of the company's ESG strategies and reporting[135] - The company has established an ESG governance structure to clarify management responsibilities and assist the board in monitoring progress[136] - The company aims to reduce greenhouse gas emissions and energy consumption by 5% by 2026, based on 2021 levels[141] - Total greenhouse gas emissions decreased from 278.7 tons CO2 equivalent in 2023 to 259.8 tons CO2 equivalent in 2024, a reduction of approximately 6.4%[143] Employee Development and Welfare - The company emphasizes employee training and development, offering comprehensive training programs and mentorship for new hires[154] - Total training hours increased from 210 in 2023 to 372 in 2024, representing a 77.1% growth[155] - Average training hours per employee rose from 2.7 hours in 2023 to 4.3 hours in 2024, an increase of 59.3%[155] - The company provides competitive compensation and benefits to attract and retain talent, regularly reviewing its compensation mechanisms based on performance[151] - The company has implemented various health and safety measures, with no reported violations or workplace accidents in the current and past two reporting years[153] Shareholder Information - The company’s profit attributable to equity shareholders for the year ended December 31, 2024, was approximately RMB 1,069.6 million, an increase from RMB 967.8 million in 2023[175] - The total dividend payable to shareholders for 2024 is approximately RMB 683.1 million, compared to RMB 190.4 million in 2023, with a proposed final dividend of HKD 0.11 per share and a special dividend of HKD 0.24 per share[176] - As of December 31, 2024, the company’s directors and senior executives hold a total of 264,922,169 shares, representing approximately 57.39% of the issued share capital[188] - Major shareholder Tricor Equity Trustee Limited holds 309,608,821 shares, representing 67.07% of the issued shares[197] Risk Management - The company has established a risk management framework to assess the level of risk it is willing to undertake in achieving its strategic objectives[111] - The audit committee reviews the effectiveness of the risk management and internal control systems annually[123] - The company has a strong focus on digital marketing and integrated marketing strategies, led by experienced executives[86]

Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue decreased by 19% to RMB 612,517,000 compared to RMB 759,836,000 in the previous year[4]. - Operating profit increased by 23% to RMB 122,072,000, up from RMB 99,064,000 year-on-year[4]. - Profit attributable to equity shareholders rose by 11% to RMB 106,961,000, compared to RMB 96,778,000 in the prior year[4]. - Basic and diluted earnings per share increased by 10% to RMB 23.2 cents from RMB 21.0 cents[4]. - The company's total comprehensive income for the year reached RMB 341,731,000, compared to RMB 82,020,000 in the previous year, indicating a substantial increase in overall profitability[7]. - Pre-tax profit for 2024 was RMB 106,961 thousand, an increase of 10.3% from RMB 96,778 thousand in 2023[24]. - Basic earnings per share for 2024 were RMB 0.231, compared to RMB 0.209 in 2023[24]. Dividends - The proposed final dividend is HKD 0.11 per share, a 20% increase from HKD 0.092 per share last year, and a special dividend of HKD 0.24 per share, up 243% from HKD 0.07[4]. - The proposed final dividend per ordinary share for 2024 is HKD 0.11 (approximately RMB 0.1016), compared to HKD 0.092 (approximately RMB 0.0835) in 2023, marking an increase of about 21.5%[33]. - The board of directors proposed a final dividend of HKD 0.11 per share and a special dividend of HKD 0.24 per share for the fiscal year ending December 31, 2024, compared to HKD 0.092 and HKD 0.07 in the previous year, representing increases of 19.57% and 242.86% respectively[67]. Revenue Breakdown - Total revenue for 2024 was RMB 612,517 thousand, a decrease of 19.4% from RMB 759,836 thousand in 2023[15]. - Revenue from television media resources operation was RMB 342,802 thousand, down 30% from RMB 489,352 thousand in 2023[15]. - Revenue recognized at a point in time was RMB 46,290 thousand, a decline of 42.3% from RMB 80,275 thousand in 2023[18]. - Revenue recognized over time was RMB 530,931 thousand, down 16.9% from RMB 639,201 thousand in 2023[18]. - Other income for 2024 was RMB 7,293 thousand, significantly lower than RMB 67,433 thousand in 2023, primarily due to the absence of investment property sales[20]. - Income from digital marketing and online media increased to RMB 131,216 thousand, up 11.5% from RMB 117,608 thousand in 2023[15]. - Content operation revenue was RMB 34,350 thousand, down about 47% from RMB 64,496 thousand the previous year, primarily due to budget cuts from some clients[43]. - Other integrated communication services revenue increased by approximately 43% to RMB 68,853 thousand from RMB 48,020 thousand, driven by commission income from media procurement[43]. - Television media resource operation revenue was RMB 342,802 thousand, a decline of about 30% from RMB 489,352 thousand, with significant decreases in advertising spending from consumer goods, tourism, and automotive clients[44]. - Digital marketing and online media revenue totaled RMB 131,216 thousand, up approximately 12% year-on-year from RMB 117,608 thousand[46]. Assets and Liabilities - Non-current assets increased to RMB 1,046,635,000 from RMB 826,432,000, driven by growth in financial assets[8]. - The net asset value rose to RMB 1,944,993,000 from RMB 1,672,020,000, reflecting a solid financial position[9]. - The company's accounts receivable, net of impairment provisions, decreased to RMB 76,387 thousand in 2024 from RMB 97,008 thousand in 2023, representing a decline of about 21.3%[30]. - The total liabilities decreased significantly from RMB 121,407 thousand in 2023 to RMB 72,807 thousand in 2024, indicating a reduction of approximately 40%[32]. - The company's total equity attributable to shareholders decreased from RMB 689,161 thousand in 2023 to RMB 669,003 thousand in 2024, reflecting a decline of about 2.9%[28]. - The company’s net asset value as of December 31, 2024, was RMB 669,003 thousand, down from RMB 689,161 thousand in 2023, indicating a decrease of approximately 2.9%[28]. Operational Efficiency - Gross profit margin improved significantly, with gross profit rising to RMB 201,566,000 from RMB 121,967,000, reflecting a strong recovery in operational efficiency[5]. - Operating expenses totaled RMB 86,787 thousand, down about 4% from RMB 90,336 thousand the previous year, representing approximately 14.2% of revenue[45]. - Sales and marketing expenses were RMB 36,724 thousand, a decrease of approximately RMB 206 thousand year-on-year, representing about 6.0% of total revenue[47]. - General and administrative expenses were RMB 50,063 thousand, down approximately RMB 3,343 thousand year-on-year, accounting for about 8.2% of total revenue[47]. Strategic Focus - The company continues to focus on television advertising, creative content production, and digital marketing services as its primary business segments[14]. - The company established an imaging technology development department to explore generative artificial intelligence (AIGC) for business expansion and to meet changing client demands[36]. - The company is focusing on enhancing its brand marketing capabilities centered around cross-screen creative communication services to improve operational efficiency and competitiveness[35]. - The company is actively tracking artificial intelligence and algorithm technologies to develop an intelligent advertising placement system, optimizing advertising strategies and improving efficiency[40]. - The company continues to expand its operational capabilities in the fast-moving consumer goods sector, leveraging creative communication and brand investment management[36]. - The overall advertising spending in 2024 is expected to increase by 1.6% year-on-year, indicating a cautious approach from advertisers in budget allocation due to market uncertainties[35]. - The company aims to deepen its layout in the fast-moving consumer goods sector to capture growth opportunities in the consumer market[59]. Cash Flow and Investments - Cash and cash equivalents as of December 31, 2024, were RMB 217,422 thousand, down from RMB 416,005 thousand in 2023[49]. - Net cash inflow from operating activities was RMB 66,512 thousand, significantly up from RMB 21,139 thousand in 2023[50]. - The company completed equity investments in two firms, investing RMB 5,100 thousand in Honghegu and RMB 13,320 thousand in Beiwai 47[51]. - The company reported a net financial income of RMB 26,081 thousand, down 13.5% from RMB 30,234 thousand in 2023[21]. - The company reported a significant increase in investments in unlisted equity securities, rising to RMB 355,586 thousand in 2024 from RMB 118,868 thousand in 2023, which is an increase of approximately 199.5%[27]. Corporate Governance - The company has fully complied with the corporate governance code as per the Hong Kong Stock Exchange, with minor deviations noted[61]. - The audit committee has reviewed the consolidated financial statements for the fiscal year ending December 31, 2024, ensuring compliance with accounting principles[64]. - The company will hold its annual general meeting on June 11, 2025, to discuss the proposed dividends and other matters[66]. - The company has not engaged in the purchase, sale, or redemption of its listed securities for the fiscal year ending December 31, 2024[60].

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 333,120,000, a decrease of 11% compared to RMB 373,097,000 for the same period in 2023[4] - Operating profit dropped by 59% to RMB 20,863,000 from RMB 51,183,000 year-on-year[4] - Profit attributable to equity shareholders decreased by 30% to RMB 29,879,000 compared to RMB 42,470,000 in the previous year[4] - Basic and diluted earnings per share fell by 29% to RMB 0.065 from RMB 0.092[4] - The company's net profit attributable to equity shareholders for the six months ended June 30, 2024, was RMB 29,879 thousand, down from RMB 42,470 thousand in the same period last year due to a one-time gain from property sales[17] - The net profit for the period was RMB 29,797,000, a decline of 30.1% compared to RMB 42,559,000 in 2023[20] - The gross profit for the same period was RMB 70,523,000, representing a significant increase of 71.6% from RMB 41,109,000 in 2023[20] - The company reported a basic earnings per share of RMB 29,879,000 for the six months ended June 30, 2024, compared to RMB 42,470,000 for the same period in 2023, indicating a decrease of approximately 29.6%[39] Revenue Breakdown - Television media resource operation revenue was RMB 176,511,000, down 16% from RMB 209,644,000[5] - Digital marketing and online media revenue increased by 10% to RMB 95,550,000 from RMB 87,246,000[5] - Revenue from television media resource operations was RMB 176,511 thousand, down 16% from RMB 209,644 thousand year-on-year, attributed to a decline in advertising spending from key sectors[12] - Digital marketing and online media revenue increased by 10% to RMB 95,550 thousand, compared to RMB 87,246 thousand in the previous year, driven by the successful operation of the self-developed programmatic advertising platform[12] - The overall advertising expenditure in the television sector decreased by 3.4% year-on-year, indicating a challenging market environment[6] Cash Flow and Assets - Cash and cash equivalents as of June 30, 2024, amounted to RMB 510,612 thousand, an increase from RMB 416,005 thousand at the end of 2023[15] - The company reported a net cash inflow from operating activities of RMB 88,020 thousand, significantly higher than RMB 46,119 thousand in the same period last year[15] - The total assets of the company as of June 30, 2024, were RMB 1,990,417 thousand, with equity attributable to equity shareholders amounting to RMB 1,644,189 thousand[17] - Cash generated from operating activities for the six months ended June 30, 2024, was RMB 113,182,000, an increase from RMB 79,828,000 in the same period of 2023[25] - The company reported a significant reduction in cash used in investment activities, with a net cash inflow of RMB 9,168,000 for the six months ended June 30, 2024, compared to a cash outflow of RMB 302,165,000 in the same period of 2023[25] Expenses and Liabilities - Total operating expenses decreased by 14% to RMB 48,753 thousand, representing 14.6% of revenue, down from 15.2% in the previous year[13] - The company reported a decrease in total liabilities, with current liabilities rising to RMB 353,385,000 from RMB 197,967,000 at the end of 2023[22] - As of June 30, 2024, the company’s non-current liabilities increased to RMB 1,759,000 from RMB 6,385,000 as of December 31, 2023, primarily due to a rise in lease liabilities to RMB 1,554,000[23] - Contract liabilities increased significantly to RMB 134,159 thousand as of June 30, 2024, compared to RMB 56,772 thousand as of December 31, 2023, representing a growth of 136.3%[50] Shareholder Information - As of June 30, 2024, the company’s directors and senior management hold a total of 264,922,169 shares, representing approximately 57.39% of the issued share capital[64] - Major shareholder Tricor Equity Trustee Limited holds 309,608,821 shares, representing 67.07% of the company[72] - CLH Holding Limited owns 210,982,513 shares, accounting for 45.70% of the company[72] - The company’s shareholding structure shows a significant concentration of ownership among its directors, enhancing governance and alignment with shareholder interests[64] Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the absence of the audit committee chairman at the annual general meeting due to prior commitments[76] - The audit committee, along with the management, reviewed the unaudited consolidated financial statements for the six months ended June 30, 2024[78] Investment Activities - The company completed a cash investment of RMB 5,100 thousand in Shenzhen Honghegu Biotechnology Co., Ltd., focusing on the tomato product industry, as part of its expansion strategy[14] - The group acquired property, plant, and equipment at a cost of RMB 857,000 for the six months ended June 30, 2024, a significant increase from RMB 134,000 in the same period of 2023[40] - The company did not purchase, sell, or redeem any of its listed securities during the six months ended June 30, 2024[75] Taxation - Tax expenses for the six months ended June 30, 2024, totaled RMB 7,894 thousand, a decrease of 63.6% from RMB 21,726 thousand in the same period of 2023[37] - The company reported no taxable profits in Hong Kong or Singapore for the six months ended June 30, 2024, consistent with the previous year[38]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 333,120,000, a decrease of 11% compared to RMB 373,097,000 for the same period in 2023[2] - Operating profit decreased by 59% to RMB 20,863,000 from RMB 51,183,000 year-on-year[2] - Profit attributable to equity shareholders was RMB 29,879,000, down 30% from RMB 42,470,000 in the previous year[2] - Basic and diluted earnings per share were RMB 0.065, a decrease of 29% compared to RMB 0.092 for the same period last year[2] - Total comprehensive income for the period was RMB 31,106,000, down from RMB 49,119,000 in the previous year[4] - The group reported a pre-tax profit of RMB 7,894 thousand for the six months ended June 30, 2024, compared to RMB 21,726 thousand for the same period in 2023, indicating a decrease of 63.6%[20] - The company's profit attributable to equity shareholders for the six months ended June 30, 2024, was RMB 29,879,000, compared to RMB 42,470,000 in the previous year due to a one-time gain from property sales[45] Revenue Breakdown - Revenue from television media resources operations decreased by 16% to RMB 176,511,000 from RMB 209,644,000[2] - Digital marketing and online media revenue increased by 10% to RMB 95,550,000 from RMB 87,246,000[2] - Revenue from television advertising, creative content production, and digital marketing services was RMB 176,511 thousand for the six months ended June 30, 2024, down from RMB 209,644 thousand in 2023, representing a decline of 15.8%[12] - Content operations and other integrated communication services generated a total revenue of RMB 43,731 thousand, a decrease of 17% from RMB 52,418 thousand in the previous year, with content operations revenue dropping 45% to RMB 7,961 thousand[40] - Rental income from investment properties was RMB 17,328 thousand, down 27% from RMB 23,789 thousand in the previous year, due to the sale of some properties and lower rental prices[41] Expenses and Liabilities - Operating expenses for the six months were RMB 48,753 thousand, a decrease of 14% from RMB 56,636 thousand, representing 14.6% of revenue compared to 15.2% in the previous year[42] - Sales and marketing expenses increased to RMB 17,597 thousand, up from RMB 16,072 thousand, accounting for 5.3% of total revenue[42] - General and administrative expenses decreased to RMB 31,156 thousand from RMB 40,564 thousand, primarily due to a reduction in impairment losses on receivables[42] - Current liabilities increased significantly to RMB 353,385,000 from RMB 197,967,000 at the end of 2023[5] - Total accounts payable was RMB 100,537 thousand as of June 30, 2024, an increase from RMB 62,629 thousand as of December 31, 2023[29] - Contract liabilities amounted to RMB 134,159 thousand as of June 30, 2024, compared to RMB 56,772 thousand as of December 31, 2023[30] Assets and Investments - Non-current assets totaled RMB 819,215,000 as of June 30, 2024, compared to RMB 826,432,000 at the end of 2023[5] - The fair value of financial assets measured at fair value through profit or loss was RMB 13,322 thousand as of June 30, 2024, down from RMB 15,646 thousand as of December 31, 2023[24] - The total accounts receivable, net of impairment provisions, was RMB 102,187 thousand as of June 30, 2024, compared to RMB 97,008 thousand as of December 31, 2023[26] - Bank deposits amounted to RMB 508,911 thousand as of June 30, 2024, slightly up from RMB 505,742 thousand as of December 31, 2023[27] - The group completed a cash investment of RMB 5,100,000 in Honghegu Biotechnology Co., Ltd. to acquire minority equity, focusing on the tomato product industry[43] Cash Flow and Dividends - As of June 30, 2024, the company's cash and cash equivalents amounted to RMB 510,612,000, an increase from RMB 416,005,000 as of December 31, 2023[44] - The net cash inflow from operating activities was RMB 88,020,000, up from RMB 46,119,000 in the same period last year[44] - The company declared a mid-term dividend of approximately RMB 8.35 cents per share, totaling RMB 38,534 thousand for the six months ended June 30, 2024, compared to RMB 19,153 thousand for the same period in 2023[31] - The board of directors did not recommend any interim dividend for the six months ended June 30, 2024[49] Strategic Focus and Market Conditions - The company continues to focus on optimizing its business structure and enhancing marketing strategies to maintain its leading position in the television advertising market[34] - The company is actively expanding its digital marketing capabilities and enhancing its internet integration services to provide customized solutions for clients[37] - The company plans to enhance its core competitiveness in creative communication and brand strategy while optimizing media resources and expanding digital marketing capabilities[48] - The manufacturing PMI in China was reported at 49.4% in July 2024, indicating a slight contraction in the manufacturing sector[47] Other Information - The group did not apply any new accounting standards or amendments that were not yet effective during the current accounting period, ensuring no significant impact on financial performance[10] - The group received government subsidies amounting to RMB 2,562 thousand in the previous year, which were not recognized in the current period[16] - There were no significant post-reporting period events to disclose as of the approval date of the interim condensed consolidated financial information[32] - The company has reviewed the unaudited consolidated financial statements and interim report for the six months ended June 30, 2024[53] - The interim report for the six months ended June 30, 2024, will be published on the Hong Kong Stock Exchange and the company's website[54] - The interim report will be sent to shareholders in a timely manner and made available on the specified websites[54]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 759,836 thousand, a 6% increase compared to RMB 719,490 thousand in the previous year[6] - Rental income decreased by 25% to RMB 40,360 thousand from RMB 53,519 thousand due to the sale of office units and parking spaces, as well as reduced rental rates for some properties[7] - Operating expenses decreased by 3% to RMB 90,336 thousand, accounting for 11.9% of revenue, down from 13.0% in the previous year, reflecting cost control measures[8] - Profit attributable to equity shareholders increased to RMB 96,778 thousand, up from RMB 41,350 thousand in the previous year, mainly due to a one-time gain from the sale of investment properties[13] - Content business revenue decreased by 7% year-on-year to RMB 64.496 million, down from RMB 69.155 million in the previous year, primarily due to delays in project production and acceptance cycles[32] - The company's profit attributable to equity shareholders (before dividends) was approximately RMB 96.78 million (2022: RMB 41.35 million), which was transferred to reserves[138] - Cultural Development recorded revenue of approximately RMB 27.25 million and consolidated revenue of approximately RMB 177.05 million for the year ended December 31, 2023[194] - Cultural Development's consolidated total assets and consolidated net liabilities were approximately RMB 82.65 million and RMB 42.13 million, respectively, as of December 31, 2023[194] Cash Flow and Investments - Net cash outflow from investing activities was RMB 294,330 thousand, primarily due to an increase in fixed-term deposits of RMB 356,686 thousand and payments for equity investments of RMB 57,020 thousand[11] - The company had no interest-bearing debt and a debt-to-equity ratio of 0% as of December 31, 2023[14] Cost Control and Management - The company plans to continue focusing on cost control and prudent management to drive long-term business growth[17] - The company has established appropriate internal controls to ensure comprehensive, accurate, and timely accounting and management information, with regular reviews to ensure compliance with accounting policies and applicable laws[34] ESG and Sustainability - The company's ESG report for 2023 aims to disclose its strategies and progress on sustainability issues, providing stakeholders with insights into its environmental, social, and governance practices[37] - The company conducts regular materiality assessments to identify significant ESG-related issues and collects stakeholder feedback to ensure the report covers key concerns[38] - The company has established an ESG governance structure to identify risks, set goals, and monitor progress, with a focus on stakeholder engagement[64] - The company has not encountered any issues related to water usage, as water consumption is limited to daily activities and is managed by building property management[67] - The company implemented measures to reduce water waste, such as installing sensor-based faucets and using water-efficient products[67] - The company implemented measures to reduce energy consumption and encourage recycling, with no significant environmental law violations reported for the year[79] - The company invested and donated approximately RMB 172,000 in community investment and public welfare activities during the year[97] - The company made charitable donations totaling approximately RMB 72,000 during the year (2022: none)[157] Employee Management and Training - The company employed 199 staff members, with a focus on maintaining stability in the workforce while increasing positions in content marketing and digital marketing[15] - The company has granted 15,252,000 unexercised share options to employees under the share option scheme[15] - Total training hours decreased from 320 in 2022 to 210 in 2023, with average training hours per employee dropping from 4.2 to 2.7[51] - Female employees' participation in training increased to 40% in 2023 from 37% in 2022, while male employees' participation remained stable at 38%[51] - Senior management participation in training increased to 41% in 2023 from 32% in 2022, with average training hours remaining at 2.0[51] - The company has implemented policies to ensure fair treatment and opportunities for all employees and job applicants, strictly adhering to labor laws and regulations[51] - The company provides competitive compensation, promotion opportunities, and benefits to attract and retain talent, with regular reviews based on performance[50] - The company has a clear policy against child labor and forced labor, with HR responsible for verifying job applicants and ensuring compliance[51] - The company provided competitive compensation packages, including base salary, performance-based bonuses, and long-term incentive plans, to attract and retain top talent[83] - The company installed high-end office fitness facilities and provided work lunches, safety training, and health programs to ensure employee well-being[88] - The company established a comprehensive training system and evaluation criteria to enhance employee skills and career development[89] Corporate Governance - The company's board of directors consists of 4 executive directors and 4 independent non-executive directors, with Liu Zhiyi appointed as an executive director on March 30, 2023[119][126] - The roles of Chairman and CEO are separated, with Chen Xin serving as Chairman and Liu Jinlan as CEO to ensure a balance of power and responsibilities[128] - Independent non-executive directors make up the majority of the board, providing sufficient checks and balances to protect shareholder interests[130] - The board is responsible for setting long-term strategies, business objectives, and monitoring management performance, while management handles daily operations under the CEO's leadership[131] - The company has fully complied with the corporate governance code and best practices specified in the Hong Kong Stock Exchange Listing Rules, except for a minor deviation regarding committee chair attendance at the AGM[123][124] - The company's board of directors held four meetings in 2023, with all directors attending either in person or via electronic communication[137] - The company's board of directors authorized management to decide on various matters, including business expansion in new regions (but not significant expansion) and the approval of expenditures within specified limits[134] - The company's board of directors approved the nomination and appointment of personnel other than board members, senior management, and auditors[133] - The company's board of directors approved the release of news related to matters decided by the board[133] - The company's board of directors approved routine or day-to-day business matters, including transactions not requiring disclosure under the listing rules and the closure of non-material businesses[133] - The company's board of directors delegated any other duties as may be assigned by the board from time to time[133] Shareholder and Equity Information - The company's major shareholders hold significant stakes, with Liu Jinlan holding 57.39% and Chen Xin holding 55.99% of the ordinary shares[105] - The company's share option plan, which expired in 2018, aimed to incentivize employees and directors to enhance the company's value[113] - The total number of shares that could be issued upon the exercise of all outstanding options under the share option plan was 15,892,000 shares, representing approximately 3.44% of the total issued shares as of January 1, 2023[145] - As of December 31, 2023, the total number of shares that could be issued upon the exercise of all outstanding options under the share option plan was 15,252,000 shares, representing approximately 3.30% of the total issued shares[145] - Tricor Equity Trustee Limited holds 309,608,821 shares, representing 67.07% of the total issued shares[162] - CLH Holding Limited holds 210,982,513 shares, representing 45.70% of the total issued shares[162] Risk Management and Compliance - The company's risk management and internal control systems are designed to manage, not eliminate, risks, providing reasonable but not absolute assurance against material misstatements or losses[39] - The company quantifies data using disclosed standards, methods, and assumptions, presenting quantitative information through narratives and comparative figures where feasible[40] - The company has a zero-tolerance policy towards bribery, extortion, fraud, and money laundering, with no significant violations reported during the year[96] - No work-related injuries, fatalities, or serious damages were reported during the year[99] - The company ensured the confidentiality of personal data and complied with privacy regulations, with no significant privacy breaches reported during the year[94] Supplier and Procurement Management - The company places high importance on supplier management within its supply chain, ensuring compliance and ethical practices[47] - The largest supplier accounted for 71% of the company's total procurement, with the top five suppliers combined accounting for 87%[58] - The company selected a total of 65 business suppliers in its supply chain during the year[70] - The company conducted due diligence on suppliers, evaluating their environmental policies, community policies, and ethical standards to ensure fair and sustainable procurement[70] - The company ensures open, fair, and transparent bidding and procurement processes with suppliers[117] Community and Social Responsibility - The company sponsored the "Tiny Blossoms, Growing Together" summer camp activity under the Ge Shi brand, aimed at providing a safe and positive environment for children[71] - The company organized a family parent-child reading event under the Ge Shi brand in collaboration with "Fan Shu," promoting family bonding and donating books to underprivileged children[78] Legal and Regulatory Compliance - The company's financial compliance and corporate financing activities are managed by the CFO, who has over 20 years of experience in accounting, auditing, and financial management[110] - The company has obtained exemptions from the Hong Kong Stock Exchange regarding fixed-term requirements and annual service fee caps for the new structure contracts[181] - The Ministry of Commerce of China issued a draft Foreign Investment Law in 2015, which may significantly impact China's foreign investment legal system if adopted[195] - KPMG was engaged to report on the group's continuing connected transactions, finding no issues with board approval or compliance with the new structure contracts[200] Business Operations and Strategy - The company plans to enhance its programmatic advertising platform with AI technology to improve precision in ad delivery and expand high-quality media resources[18] - The company's subsidiaries primarily provide TV advertising, creative content production, and digital marketing services to advertisers and advertising agencies[72] - The service fee for the previous year will be paid by Cultural Development to SinoMedia in the first quarter, subject to adjustments based on service complexity, time spent, service value, and market price[164] - SinoMedia holds a 99.7% stake in the company and is restricted from participating in certain businesses in China due to foreign investment regulations[174] - The new legal owners have granted SinoMedia an irrevocable exclusive purchase right to acquire shares in Cultural Development at the minimum price allowed by Chinese laws[172] - The new structure contracts have a duration of 10 years, automatically renewable for another 10 years unless terminated by SinoMedia[190] - The loan agreement stipulates that the new legal owners are the legal and beneficial owners of the loan, which is interest-free and used solely for paying Cultural Development's registered capital[191] - Cultural Development and the new legal owner agreed not to engage in transactions exceeding RMB 10 million without written consent from China Vision Media Group[193] - The group relies on the new variable interest entity structure to control and obtain economic benefits from Cultural Development, which may not be as effective as direct ownership[196] - Cultural Development and its registered shareholders may fail to take necessary actions or follow the group's instructions, potentially requiring reliance on legal remedies under Chinese law[197] - The company has no insurance covering risks related to the new structure contracts and transactions conducted under them[198]

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 759,836 thousand, representing a 6% increase compared to RMB 719,490 thousand in 2022[4] - Operating profit increased by 102% to RMB 99,064 thousand from RMB 49,046 thousand year-on-year[4] - Profit attributable to equity shareholders rose by 134% to RMB 96,778 thousand, compared to RMB 41,350 thousand in the previous year[4] - Basic and diluted earnings per share increased to RMB 21.0 cents, up 133% from RMB 9.0 cents in 2022[4] - Total comprehensive income for the year amounted to RMB 82,020 thousand, compared to a loss of RMB 32,391 thousand in the previous year[19] - Total revenue for the year 2023 was RMB 759,836 thousand, a rise from RMB 719,490 thousand in 2022, reflecting an overall growth of 5.6%[32] - The company reported a net gain from the sale of investment properties amounting to RMB 68,153 thousand in 2023, with no comparable figure in 2022[36] - The pre-tax profit for 2023 was impacted by a current year tax provision of RMB 44,945 thousand, compared to RMB 20,389 thousand in 2022, indicating a significant increase of 120.5%[49] - The company’s financial income surged to RMB 30,827 thousand in 2023, up from RMB 12,986 thousand in 2022, representing a growth of 137.5%[47] Revenue Breakdown - The company's revenue from television media resources operation increased to RMB 489,352 thousand in 2023, up from RMB 438,058 thousand in 2022, representing a growth of 11.7%[32] - Digital marketing and online media revenue rose significantly to RMB 117,608 thousand in 2023, compared to RMB 84,337 thousand in 2022, marking an increase of 39.5%[32] - Revenue from contracts recognized over time was RMB 639,201 thousand in 2023, compared to RMB 605,570 thousand in 2022, showing an increase of 5.5%[34] - Content operations and other integrated communication services revenue totaled RMB 112,516 thousand, down approximately 22% from RMB 143,576 thousand in the previous year[77] - The company reported a decrease in content operations revenue to RMB 64,496 thousand, down about 7% from RMB 69,155 thousand in the previous year, primarily due to project filming and acceptance cycles[77] - Other integrated communication services revenue fell to RMB 48,020 thousand, down approximately 35% from RMB 74,421 thousand in the previous year, affected by the media supplier settlement cycle[77] Assets and Liabilities - Cash and cash equivalents decreased to RMB 416,005 thousand from RMB 704,635 thousand in 2022[14] - Total assets less current liabilities increased to RMB 1,678,405 thousand from RMB 1,624,331 thousand year-on-year[14] - Net assets rose to RMB 1,672,020 thousand, up from RMB 1,609,224 thousand in the previous year[15] - Accounts receivable and notes receivable, net of loss provisions, increased to RMB 97,008 thousand in 2023 from RMB 70,494 thousand in 2022[60] - Accounts payable increased significantly to RMB 62,629 thousand in 2023 from RMB 23,102 thousand in 2022, indicating a substantial rise in liabilities[12] - The company’s financial liabilities measured at amortized cost rose to RMB 121,407 thousand in 2023, compared to RMB 92,726 thousand in 2022[12] Dividends - Proposed final dividend of 9.2 HK cents per share, a 104% increase from 4.5 HK cents in the previous year[4] - The board proposed a final dividend of HKD 0.092 per ordinary share and a special dividend of HKD 0.070 per ordinary share for the year ending December 31, 2023, subject to shareholder approval[108] - The proposed final dividend for the reporting period is RMB 38,534,000, and the proposed special dividend is RMB 29,319,000, totaling RMB 67,853,000, compared to RMB 18,274,000 in the previous year[114] - The dividends approved and paid to equity shareholders for the fiscal year amounted to RMB 19,042,000, an increase from RMB 15,788,000 in the previous year[115] Operational Efficiency - The company aims to enhance its operational capabilities in the fast-moving consumer goods sector to expand market opportunities and ensure sustainable profitability[44] - The company plans to enhance its programmatic advertising platform using artificial intelligence to adapt to rapidly changing customer demands and optimize targeted advertising strategies[99] - The company aims to deepen its presence in the fast-moving consumer goods sector and expand its brand strategy to enhance competitive advantages despite market uncertainties[99] - Operating expenses totaled RMB 90,336 thousand, a decrease of about 3% year-on-year, representing approximately 11.9% of revenue compared to 13.0% in the previous year[80] - General and administrative expenses decreased to RMB 53,406 thousand, down approximately RMB 9,858 thousand year-on-year, representing about 7.0% of revenue[81] Investments - The company completed a cash investment of RMB 43,000 thousand in Beijing Aiqi Technology Co., Ltd. for minority equity acquisition[83] - The company holds approximately 0.045% of shares in China Feihe Limited, with dividends received amounting to RMB 1,117 thousand for the year ended December 31, 2023[56] - The company’s investment in non-listed equity securities primarily includes shares in Bruker Corporation and Beijing Aiqi Technology Co., Ltd., with no dividends received in 2023[57] - The company’s total financial assets measured at fair value through profit or loss amounted to RMB 134,514 thousand in 2023, compared to RMB 105,880 thousand in 2022[56] Cash Flow - Net cash inflow from operating activities was RMB 21,139 thousand, compared to a net cash outflow of RMB 9,825 thousand in the previous year[86] - Cash and cash equivalents as of December 31, 2023, were RMB 416,005 thousand, down from RMB 704,635 thousand in the previous year[85] Taxation - The company has a tax rate of 17% for its subsidiary in Singapore, with no taxable profits reported for the year ended December 31, 2023[50] - The company has a preferential tax rate of 20% for certain small and micro enterprises in China, and a 15% rate for qualified companies in the Hengqin Guangdong-Macao Deep Cooperation Zone[50]

Financial Performance - Revenue for the six months ended June 30, 2023, was RMB 373,097,000, representing a 6% increase compared to RMB 352,731,000 for the same period in 2022[12] - Operating profit for the same period was RMB 51,183,000, a significant recovery from a loss of RMB 30,747,000 in the previous year, indicating an improvement of over 100%[12] - Profit attributable to equity shareholders for the six months ended June 30, 2023, was RMB 42,470,000, compared to a loss of RMB 22,441,000 in the prior year, also reflecting an improvement of over 100%[12] - The gross profit for the same period was RMB 41,109,000, significantly up from RMB 14,666,000 in 2022, indicating a gross margin improvement[51] - The net profit for the period was RMB 42,559,000, a turnaround from a net loss of RMB 22,502,000 in the same period last year[51] - The basic and diluted earnings per share for the period were RMB 0.092, compared to a loss per share of RMB 0.048 in 2022[51] - The total comprehensive income for the six months ended June 30, 2023, was RMB 49,030,000, compared to a total comprehensive loss of RMB 5,966,000 in the same period of 2022[62] Revenue Segments - Digital marketing and online media segment revenue increased by 47% to RMB 87,246,000 from RMB 59,488,000 year-on-year[13] - Television media resource operation revenue decreased by 2% to RMB 209,644 thousand, down from RMB 213,941 thousand due to weak consumer demand and an unclear overall advertising market[27] - Digital marketing and online media revenue surged by 47% to RMB 87,246 thousand, compared to RMB 59,488 thousand in the previous year, driven by increased advertising spending from quality clients[28] - The company’s customer base is diversified, with one customer contributing over 10% of total revenue, generating RMB 140,867 thousand in the current period, up from RMB 101,113 thousand in the previous year[80] Operating Expenses and Cash Flow - Operating expenses rose by 38% to RMB 56,636 thousand, accounting for 15.2% of revenue, up from 11.6% in the same period last year[31] - The net cash inflow from operating activities was RMB 46,119 thousand, a significant improvement from a net cash outflow of RMB 3,824 thousand in the previous year[38] - The company's net cash generated from operating activities for the six months ended June 30, 2023, was RMB 46,119 thousand, a significant improvement compared to a net cash outflow of RMB 3,824 thousand in the same period of 2022[66] Debt and Equity - As of June 30, 2023, the company had no interest-bearing debt and a debt-to-equity ratio of zero[41] - The net asset value as of June 30, 2023, was RMB 1,638,890 thousand, compared to RMB 1,609,224 thousand at the end of 2022, marking an increase of about 1.83%[59] - Total liabilities increased to RMB 315,580 thousand from RMB 200,521 thousand, representing a rise of approximately 57.3%[59] - The total equity attributable to shareholders as of June 30, 2023, was RMB 460,000 thousand, reflecting an increase from RMB 440,000 thousand as of December 31, 2022[162] Shareholder Information - As of June 30, 2023, the total number of shares held by Liu Jinlan is 264,922,169, representing 57.39% of the company's issued share capital[139] - As of June 30, 2023, the total number of shares held by Chen Xin is 258,469,165, representing 55.99% of the company's issued share capital[139] - Major shareholder Tricor Equity Trustee Limited holds 309,608,821 shares, representing 67.07% of the issued shares[159] - CLH Holding Limited owns 210,982,513 shares, accounting for 45.70% of the total issued shares[159] Dividends and Taxation - The company paid dividends of RMB 19,153 thousand to equity shareholders during the period[62] - The income tax expense for the six months ended June 30, 2023, was RMB 21,726 thousand, compared to a tax benefit of RMB 2,266 thousand for the same period in 2022[170] - The group recognized a current tax provision of RMB 37,003 thousand for the six months ended June 30, 2023, compared to RMB 411 thousand for the same period in 2022[170] Strategic Focus and Development - The company is focusing on optimizing media resources and enhancing its marketing strategies to improve competitiveness in a complex market[16] - The company is actively developing content marketing services tailored to family consumption needs, utilizing various formats such as live streaming and short videos[19] - The company aims to strengthen its core competitiveness in digital marketing through big data and precision targeting technologies[23] - The group plans to optimize its business structure and deepen its layout in the fast-moving consumer goods sector[47] Employee and Operational Metrics - As of June 30, 2023, the total number of employees in the group was 216, a slight increase from the beginning of the year[45] - The company completed the sale of an office unit and parking space for RMB 91,333 thousand, contributing to its cash flow[32] - The company is focusing on content creation and community operations to enhance e-commerce and brand marketing services[27] Investment and Asset Management - The company recorded an impairment loss on receivables of RMB 10,170 thousand for the first half of 2023, significantly higher than RMB 2,191 thousand in the same period of 2022, indicating an increase of 362.4%[87] - The company held non-listed equity securities valued at RMB 129,521 thousand as of June 30, 2023, up from RMB 81,897 thousand at the end of 2022, reflecting a growth of 58.1%[95] - The company received government grants totaling RMB 2,562 thousand, significantly higher than RMB 282 thousand in the previous year, recognizing its contribution to local economic development[84]

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，並明確表示概不就因本公告全部或任何部分內容所產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 中 視 金 橋 國 際 傳 媒 控 股 有 限 公司 SINOMEDIA HOLDING LIMITED （於香港註冊成立之有限公司） （股份代號：00623） 截至二零二三年六月三十日止六個月 中期業績公告 財務摘要 截至 截至 二零二三年 二零二二年 六月三十日 六月三十日 人民幣千元 止六個月 止六個月 同比(%) 收入 373,097 352,731 +6% 經營溢利╱（虧損） 51,183 (30,747) >100% 本公司權益股東應佔溢利╱（虧損） 42,470 (22,441) >100% 每股盈利╱（虧損） — 基本及攤薄（人民幣元） 0.092 (0.048) >100% 收入 ...

Financial Performance - Total revenue for 2022 was RMB 719,490,000, a decrease of 39% compared to RMB 1,183,473,000 in 2021[5] - Operating profit increased by 21% to RMB 49,046,000 from RMB 40,625,000 in the previous year[5] - Profit attributable to equity shareholders rose by 12% to RMB 41,350,000, up from RMB 37,078,000 in 2021[5] - Basic and diluted earnings per share increased by 13% to RMB 0.09 from RMB 0.08 in 2021[5] - Proposed final dividend per share is HKD 0.045, an increase of 13% from HKD 0.04 in the previous year[5] - The group's total revenue for the year ended December 31, 2022, was RMB 719,490 thousand, a decrease of 39% compared to RMB 1,183,473 thousand in the previous year[32] - The group's net profit attributable to equity shareholders was RMB 41,350 thousand, an increase of approximately 12% from RMB 37,078 thousand in the previous year[36] - The total dividend paid to equity shareholders for 2022 was approximately RMB 157.9 million, compared to RMB 347.9 million in 2021, with a proposed final dividend of HKD 0.045 per share[198] Revenue Breakdown - Revenue from television media resource operations decreased by 51% to RMB 438,058,000 from RMB 903,013,000 in 2021[5] - Revenue from content operations and other integrated communication services increased by 16% to RMB 143,576,000 from RMB 123,266,000[5] - Revenue from digital marketing and online media decreased by 15% to RMB 84,337,000 from RMB 98,890,000[5] - Other integrated communication services revenue increased significantly by approximately 70% to RMB 74,421 thousand, driven by commission income from media procurement[35] Cost Management - The company implemented multiple cost control measures to maintain financial stability while keeping employee numbers stable[19] - The group's operating expenses for the year were RMB 93,212 thousand, down about 8% from RMB 101,792 thousand, representing approximately 13.0% of total revenue[38] - Sales and marketing expenses decreased to RMB 29,948 thousand from RMB 33,060 thousand, a reduction of approximately RMB 3,112 thousand, representing about 4.2% of the group's revenue (2021: 2.8%) [40] - General and administrative expenses were RMB 63,264 thousand, down from RMB 68,732 thousand, a decrease of approximately RMB 5,468 thousand, accounting for about 8.8% of the group's revenue (2021: 5.8%) [40] Market Conditions - In 2022, the advertising market expenditure decreased by 11.8% year-on-year, with television advertising spending declining by 14.6%[19] - Revenue from television media resource operations was RMB 438,058 thousand, down approximately 51% from RMB 903,013 thousand year-on-year, due to economic slowdown and reduced advertising budgets from clients[33] - Digital marketing and online media revenue amounted to RMB 84,337 thousand, a decline of about 15% from RMB 98,890 thousand year-on-year, impacted by weakened consumer sentiment and reduced marketing demand[37] Strategic Initiatives - The company focused on optimizing its business structure and enhancing its core competitiveness in response to market challenges[20] - The company aims to strengthen its digital marketing capabilities and improve advertising efficiency through integrated internet services[20] - The company plans to deepen its layout in the family consumption industry and enhance brand marketing capabilities through innovation[21] - The company is committed to creating greater value for shareholders and society by expanding new business growth points[21] Corporate Governance - The company has appointed independent non-executive directors with extensive experience in finance and management, enhancing its governance structure[64][66][68][70][72][75] - The board includes members with academic backgrounds in finance and management, contributing to informed decision-making and strategic planning[66][70] - The company is committed to maintaining high standards of corporate governance through the expertise of its independent directors[64][66] - The board consists of 3 executive directors and 5 independent non-executive directors, ensuring a balance of power and responsibilities[91] Environmental and Social Responsibility - The company has established an environmental, social, and governance (ESG) governance structure to oversee its ESG strategies and reporting[142] - The total greenhouse gas emissions for the year 2022 amounted to 197.5 tons of CO2 equivalent, a decrease of 10.9% from 221.6 tons in 2021[151] - The company aims to reduce greenhouse gas emissions and energy consumption by 5% by 2026, based on 2021 levels[148] - The company promotes a paperless office and encourages recycling practices to minimize waste generation[154] Employee Management - The total number of employees increased from 198 in 2021 to 205 in 2022, representing a growth of approximately 3.5%[165] - Employee turnover rate decreased from 25% in 2021 to 22% in 2022, indicating improved employee retention[165] - The company maintains a 100% full-time employment rate, with no part-time employees reported[165] - The company has implemented various health and safety measures, including regular health monitoring and strict infection control protocols, with no reported cases of COVID-19 related injuries or fatalities among employees[167] Training and Development - The total training hours for employees in 2022 were 320 hours, an increase from 312 hours in 2021[172] - The average training hours per employee decreased to 4.2 hours in 2022 from 6.2 hours in 2021[172] - The company has implemented a comprehensive training system to enhance employees' knowledge and skills[169] Compliance and Risk Management - The company has established a comprehensive risk management and internal control system to ensure asset security and compliance[124] - The audit committee is responsible for reviewing the financial reporting processes, risk management, and internal control systems of the group[107] - The company has not encountered any significant violations of employment laws or regulations affecting employee compensation and welfare[163]

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，並明確表示概不就因本公告全部或任何部分內容所產生或因 倚賴該等內容而引致的任何損失承擔任何責任。 中 視 金 橋 國 際 傳 媒 控 股 有 限 公司 SINOMEDIA HOLDING LIMITED （於香港註冊成立之有限公司） （股份代號：00623） 截至二零二二年十二月三十一日止年度之 年度業績公告 中視金橋國際傳媒控股有限公司（「中視金橋」或「本公司」）董事會（「董事會」） 宣佈本公司及其附屬公司（統稱「本集團」）截至二零二二年十二月三十一日止 年度之業績，並載有可資比較的去年同期數據。 財務摘要 截至二零二二年 截至二零二一年 十二月三十一日 十二月三十一日 人民幣：千元 止年度 止年度 同比(%) 收入 719,490 1,183,473 -39% 經營溢利 49,046 40,625 +21% 本公司權益股東應佔溢利 41,350 37,078 +12% 每股盈利 ...