Financial Performance - Total revenue for the year reached HKD 4.052 billion, an increase of 17.9% compared to HKD 3.438 billion in the previous year[6]. - Profit attributable to shareholders rose by 171.1% to HKD 136.9 million, up from HKD 50.5 million in the previous year[6]. - Core operating profit increased by 44.0% to HKD 165.7 million, compared to HKD 115.1 million in the previous year[6]. - EBITDA grew by 45.5% to HKD 260.8 million, up from HKD 179.3 million in the previous year[8]. - Basic earnings per share were HKD 0.1106, compared to HKD 0.0408 in the previous year, reflecting a significant increase[6]. - The company reported a total comprehensive income of HKD 254,563, up from HKD 99,844 in 2020, reflecting strong overall performance[172]. - The company recognized a significant increase in other income, amounting to HKD 166,589, compared to HKD 163,152 in the previous year[171]. - Financing costs decreased to HKD 18,228 from HKD 24,554, indicating improved financial management[171]. Revenue Segmentation - The total revenue for the Greater China region reached HKD 40.52 billion, accounting for 53.6% of the group's total revenue, an increase from 46.6% in the previous year[11]. - The revenue from the exhibition, project, and brand activation segment was HKD 31.18 billion, representing 76.9% of the total revenue, up from 71.0% the previous year[12]. - The visual brand activation segment generated HKD 404 million in revenue, up from HKD 325 million in 2020, accounting for 10.0% of total group revenue compared to 9.4% in 2020[28]. - The museum and theme entertainment segment generated revenue of HKD 492 million, down from HKD 627 million, accounting for 12.2% of total group revenue[33][34]. - The conference planning activation segment reported revenue of HKD 38 million, down from HKD 43 million[40][41]. Operational Highlights - The company operates 47 permanent offices across 34 cities, employing approximately 2,000 long-term staff[8]. - The number of exhibitions increased by 23% compared to the previous year, with total exhibition space growing by 92%[13]. - The group successfully delivered various virtual events and exhibitions despite the pandemic, including the ASEAN International Furniture and Furnishings Exhibition and the Philippine National Trade Exhibition[43][45]. - The group managed and operated the Jinjiang International Exhibition Center, successfully delivering 16 exhibitions and projects during the year[22]. - The group participated in the Dubai Expo, managing over 200 projects, marking the largest scale of participation in 30 years[19]. Digital Transformation and Strategy - The company is focused on leveraging digital solutions to connect brands with audiences, enhancing project value and impact[3]. - Future strategies will integrate digital and physical elements to create seamless experiences for clients[4]. - The company continues to enhance its digital transformation strategy to meet new market demands and increase revenue sources[11]. - The company is undergoing a digital transformation, integrating digital strategies into its operations to meet current and future customer needs[61]. - The company has invested in new technologies and digital media to enhance its service offerings and improve operational efficiency[70]. Financial Position and Assets - Total assets reached HKD 5.386 billion in 2021, compared to HKD 4.765 billion in 2020, indicating an increase of about 13%[74]. - The total net value of tangible assets increased by 17.8% to approximately HKD 1.648 billion (2020: HKD 1.399 billion)[46]. - Cash and bank balances amounted to HKD 1.483 billion (2020: HKD 1.304 billion), with a net cash balance of HKD 754 million after deducting external interest-bearing borrowings (2020: HKD 638 million)[47]. - The company's net asset value reached HKD 2,319,468 thousand in 2021, up from HKD 2,097,513 thousand in 2020, indicating a growth of 10.6%[176]. Governance and Compliance - The company maintained compliance with the corporate governance code, although the roles of Chairman and CEO are held by the same individual, which deviates from the recommended practice[79]. - The board of directors held four meetings and one annual general meeting during the fiscal year ending October 31, 2021[81]. - The company has received annual confirmations of independence from all current independent non-executive directors, affirming their status as independent individuals[83]. - The company is committed to equal opportunities and regularly reviews its board diversity policy to ensure effectiveness[92]. Shareholder Returns - The company proposed a final dividend of HKD 0.050 per share, up from HKD 0.025 per share in the previous year, representing 45.2% of the basic earnings per share[8]. - The board recommends a final dividend of HKD 0.05 per share, totaling HKD 5.0 million for the year, compared to HKD 2.5 million in the previous year[110]. - The total reserves available for distribution to shareholders amount to HKD 751.53 million, down from HKD 771.05 million in the previous year[111]. Market Expansion and Future Outlook - The company is expanding its operations in the Greater Bay Area, with a focus on business development and operational management in key cities like Guangzhou and Shenzhen[71]. - The company is actively pursuing market expansion in Europe, the Middle East, and Africa, leveraging its global operational management expertise[70]. - The company anticipates further improvement in 2022, driven by the demand for digital and hybrid projects, despite ongoing impacts from the COVID-19 pandemic[56]. Risk Management - The board of directors is responsible for the effectiveness of risk management and internal control systems, with the internal audit department monitoring these systems continuously[99]. - The company has established a risk management committee composed of senior management to set, implement, and monitor risk management policies and procedures[99].

Financial Performance - Revenue for the six months ended April 30, 2021, was HKD 1,875,768, a slight increase from HKD 1,868,010 in the same period of 2020, representing a growth of 0.5%[2] - Gross profit decreased to HKD 536,347 from HKD 616,133, reflecting a decline of approximately 13%[2] - Core operating profit increased to HKD 92,087, up from HKD 84,300, marking a growth of about 9.5%[2] - Net profit for the period was HKD 43,867, compared to HKD 25,177 in the previous year, indicating a significant increase of 74.3%[3] - Basic and diluted earnings per share rose to 4.65 cents from 1.95 cents, an increase of 138.5%[2] - Total comprehensive income for the period amounted to HKD 136,515, a substantial recovery from a loss of HKD 22,161 in the prior year[3] - The total segment profit for the six months ended April 30, 2021, was HKD 98,547, compared to HKD 94,637 for the same period in 2020, reflecting an increase of 4.3%[24] - The company reported a net profit of HKD 51,278 for the six months ended April 30, 2021, compared to HKD 31,345 in 2020, marking an increase of 63.8%[24] Assets and Liabilities - Non-current assets increased to HKD 1,771,918 from HKD 1,779,571, showing a slight decrease of 0.4%[4] - Current liabilities rose to HKD 2,097,210 from HKD 1,975,037, reflecting an increase of approximately 6.2%[5] - The company's total assets less current liabilities stood at HKD 2,814,606, a marginal increase from HKD 2,789,903[6] - Shareholders' equity increased to HKD 2,077,645 from HKD 1,957,974, representing a growth of about 6.1%[7] - Total equity amounted to HKD 2,155,303 thousand, a decrease of HKD 22,161 thousand compared to the previous period[9] - Retained earnings were HKD 1,574,894 thousand, reflecting an increase of HKD 24,123 thousand during the period[9] - Cash and cash equivalents at the end of the period were HKD 1,184,559 thousand, down from HKD 1,242,008 thousand in the previous year[12] - Trade receivables amounted to approximately HKD 703,438,000 as of April 30, 2021, up from HKD 660,632,000 as of October 31, 2020, reflecting an increase of 6.5%[38] - Trade payables were approximately HKD 317,531,000 as of April 30, 2021, down from HKD 381,629,000 as of October 31, 2020, indicating a decrease of 16.8%[39] Cash Flow and Financing - Net cash used in operating activities was HKD (101,930) thousand, compared to HKD 118,349 thousand generated in the previous year[11] - The company reported a net cash outflow from financing activities of HKD (29,479) thousand, a significant decrease from HKD (106,139) thousand in the prior period[11] - The foreign exchange rate effect on cash and cash equivalents was HKD 24,517 thousand, contrasting with a loss of HKD (32,322) thousand in the previous year[11] - Total borrowings increased to HKD 680 million as of April 30, 2021, compared to HKD 666 million on October 31, 2020[63] - The current ratio was 1.50 times as of April 30, 2021, slightly down from 1.51 times on October 31, 2020, while the debt ratio decreased to 9.79% from 11.47%[64] Segment Performance - Revenue from the Greater China region was HKD 1,132,181 for the six months ended April 30, 2021, up from HKD 801,918 in 2020, indicating a significant growth of 41.2%[25] - Revenue from the exhibition, project, and brand activation segment decreased by 3.4% to HKD 1.431 billion from HKD 1.481 billion[49] - Revenue from visual brand activation increased by 25.0% to HKD 200 million from HKD 160 million[49] - Revenue from museums and themed entertainment rose by 15.7% to HKD 228 million from HKD 197 million[49] - Revenue from conference planning activation decreased by 43.3% to HKD 17 million from HKD 30 million[49] Government Support and Subsidies - The company recognized government subsidies amounting to HKD 42,784 during the period, compared to HKD 8,591 in the previous year, indicating a substantial increase[31] Corporate Governance and Shareholder Information - The company has adhered to the corporate governance code as per the listing rules, with a noted deviation where the roles of Chairman and CEO are held by the same individual[84] - The company confirmed that all directors complied with the standards set out in the code of conduct for securities transactions during the period ending April 30, 2021[85] - The largest shareholder, Pine Asset Management Limited, holds 462,167,186 shares, representing 37.33% of the issued share capital[81] - FMR LLC is the second-largest shareholder with 123,789,010 shares, accounting for 10.00% of the issued share capital[81] Future Outlook and Strategic Initiatives - The company anticipates continued challenges in 2021 due to ongoing lockdowns and travel restrictions in its operating markets[66] - The company has been appointed as the designated service provider for several major exhibitions in China for the second half of 2021, indicating a recovery in event activities[66] - The company is set to activate brands for the Arabian Travel Market in Dubai, marking a reopening of the UAE market post-pandemic[67] - The company is preparing for its role in the Tokyo Olympics, which is scheduled to open in July 2021, despite rising COVID-19 cases in Japan[67] - The company is involved in approximately 20 pavilions at the Dubai Expo, marking the largest scale of participation in its history[68] Cost Management and Operational Efficiency - The group has implemented cost-saving measures, significantly reducing fixed overhead costs, maintaining operational flexibility[48] - The company is adopting a cautious approach to cost control due to uncertainties from the COVID-19 pandemic while remaining optimistic about future events[71] Digital and Technological Investments - The company continues to invest in digital capabilities to quickly regain momentum post-COVID-19[71]

Financial Performance - Total revenue for the year was HKD 34.38 billion, a decrease of 31.5% compared to HKD 50.17 billion in 2019[28]. - Core operating profit fell to HKD 115.1 million, down 70.4% from HKD 389.5 million in 2019[28]. - Profit attributable to shareholders decreased by 80.3% to HKD 50.5 million, compared to HKD 256.8 million in 2019[28]. - EBITDA decreased by 60.2% to HKD 179.3 million, down from HKD 450.6 million in 2019[28]. - Basic earnings per share dropped to HKD 0.0408, a decline of 80.3% from HKD 0.2076 in 2019[28]. - Proposed final dividend is HKD 0.025 per share, down from HKD 0.135 per share in 2019, representing a decrease of 81.5%[33]. - The group's total revenue from Greater China reached HKD 34.38 billion, accounting for 46.6% of total revenue, down from 53.9% in the previous year[40]. - The exhibition, project, and brand activation segment generated revenue of HKD 24.43 billion, representing 71.0% of total revenue, a decrease from 77.5% in the previous year[42]. - The visual brand activation division reported revenues of HKD 155 million in 2020, down from HKD 255 million in 2019, representing a decline of 39.2%[63][65]. - The visual brand activation division incurred a loss of HKD 9.7 million in 2020, compared to a profit of HKD 23.9 million in 2019[66]. - The division's revenue for the fiscal year 2020 was HKD 797 million, representing a 9.2% increase from HKD 730 million in 2019, and accounted for 23.2% of the group's total revenue[71]. - The division recorded a loss of HKD 82 million in 2020, compared to a profit of HKD 25.4 million in 2019, with revenue dropping from HKD 144 million to HKD 43 million[75]. - The company's revenue for 2020 was HKD 34.38 billion, a decrease from HKD 50.17 billion in 2019, representing a decline of approximately 31.5%[103]. - The profit attributable to shareholders for 2020 was HKD 50.5 million, down from HKD 256.8 million in 2019, indicating a decrease of about 80.4%[103]. - Total assets as of October 31, 2020, were HKD 47.65 billion, compared to HKD 48.98 billion in 2019, reflecting a decrease of approximately 2.7%[104]. - The net equity attributable to shareholders was HKD 19.58 billion in 2020, slightly down from HKD 19.83 billion in 2019, a decrease of about 1.3%[104]. - The operating profit for 2020 was HKD 90.58 million, a significant drop from HKD 377.19 million in 2019, representing a decline of approximately 76%[106]. - The company reported a pre-tax profit of HKD 59.30 million for 2020, down from HKD 318.75 million in 2019, indicating a decrease of about 81.4%[106]. - Total liabilities for 2020 were HKD 26.67 billion, a slight decrease from HKD 27.42 billion in 2019, reflecting a reduction of approximately 2.8%[107]. Impact of COVID-19 - The pandemic has significantly impacted the business, particularly in the exhibition and project activation sectors due to travel restrictions and lockdown measures[32]. - The number of global exhibitions served by the group decreased by 70% due to travel restrictions and quarantine requirements[44]. - The group implemented cost-saving measures and cash reserves to mitigate the impact of COVID-19, which significantly reduced regular operating expenses[38]. - The company has shifted to virtual and digital solutions in response to COVID-19, increasing demand for virtual or hybrid projects[53]. - The company launched a new VX Events platform in the Philippines to adapt to ongoing lockdowns, successfully transitioning several exhibitions to virtual formats[77]. - The company has activated several virtual and hybrid projects, including the HP virtual event and the JD Global Technology Explorer Conference, indicating a shift towards digital solutions[90]. Strategic Initiatives - The company aims to continue investing in sustainable digital infrastructure to drive comprehensive brand activation business growth[2]. - The company is committed to transforming and growing to create and enhance value for customers and shareholders amid challenging conditions[2]. - The group plans to invest in content creation and community engagement to align with consumer trends and enhance brand activation effectiveness[38]. - The company is expected to complete the public transport signage project at Bukit Timah MRT Station in Singapore by 2021[70]. - The company has established a joint venture with Semi Permanent to host design festivals in Asia and the Middle East, enhancing its innovative offerings[77]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $300 million earmarked for potential deals[200]. - The company plans to focus on market expansion and new product development in the upcoming fiscal year[109]. - The company is actively involved in various international organizations, enhancing its global presence and networking opportunities[98]. Governance and Compliance - The board of directors held four meetings and one annual general meeting during the fiscal year ending October 31, 2020, ensuring active governance[111]. - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations[109]. - The company has received annual confirmation letters regarding the independence of all current independent non-executive directors, and it believes they are all independent individuals[114]. - The company’s non-executive directors have a designated term of two years and must stand for re-election at the annual general meeting[117]. - The audit committee, composed of four independent non-executive directors, held three meetings during the fiscal year to discuss financial statements and internal control systems[120]. - The company is committed to providing equal opportunities and regularly reviews its board diversity policy[121]. - The total auditor's remuneration for the year amounted to HKD 4,778,000, a decrease of 28% from HKD 6,625,000 in the previous year[126]. - The company has adopted a dividend policy allowing for two dividends per year, with the board considering factors such as actual and expected financial performance and cash flow needs[133]. - The company is committed to timely disclosure of information to shareholders, with annual general meetings serving as a platform for communication[132]. - The company has established a nomination policy for directors, considering factors such as strategy, skills, and independence[124]. Assets and Liabilities - The group's total tangible assets increased by 2.9% to approximately HKD 1.399 billion as of the fiscal year-end, compared to HKD 1.360 billion in 2019[79]. - Cash and bank balances stood at HKD 1.304 billion, up from HKD 1.294 billion in 2019, while net cash balance after deducting borrowings was HKD 638 million, down from HKD 682 million[80]. - Total borrowings increased to HKD 666 million in 2020 from HKD 612 million in 2019, with long-term borrowings at HKD 394 million, up from HKD 354 million[81]. - Employee costs for the year amounted to approximately HKD 844 million, a decrease from HKD 960 million in 2019[82]. - The debt ratio for 2020 stands at 11.47%, a significant increase from 7.23% in 2019, reflecting higher leverage[84]. Market and Customer Insights - The company anticipates significant opportunities in 2021 driven by the recovery of the Chinese economy[89]. - Customer satisfaction ratings improved to 85%, reflecting a 5% increase from the previous quarter[200]. - The company is investing in new technology development, allocating $50 million towards R&D initiatives[200]. - Market expansion efforts are underway, with plans to enter three new international markets by the end of the year[200]. Risk Management - The board is responsible for the effectiveness of risk management and internal control systems, with a dedicated risk management committee in place[128]. - Key audit matters identified include impairment of trade receivables and contract assets, revenue from construction contracts, and impairment assessments of goodwill and other intangible assets[191]. - The company has maintained sufficient public float as required by listing rules throughout the year[185]. Environmental Commitment - The company is committed to promoting environmental sustainability and complying with applicable environmental laws and regulations[180].

Financial Performance - Revenue for the six months ended April 30, 2020, was HKD 1,868,010 thousand, a decrease of 24.5% compared to HKD 2,474,057 thousand in the same period of 2019[2] - Gross profit for the same period was HKD 616,133 thousand, down 16.6% from HKD 739,104 thousand year-on-year[2] - Core operating profit decreased to HKD 84,300 thousand, representing a decline of 56.0% from HKD 191,965 thousand in the previous year[2] - The net profit for the period was HKD 25,177 thousand, a significant drop of 78.9% compared to HKD 119,489 thousand in 2019[3] - Basic and diluted earnings per share were both 1.95 cents, down from 9.95 cents in the prior year[2] - The company reported a total comprehensive loss of HKD 22,161 thousand for the period, compared to a comprehensive income of HKD 163,496 thousand in the same period last year[4] - The company reported a total segment profit of HKD 94,637,000 for the six months ended April 30, 2020, down from HKD 213,327,000 in the same period of 2019, indicating a decrease of about 55.7%[33] - The group reported a net profit of HKD 6,168,000 for the six months ended April 30, 2020, down from HKD 33,057,000 in 2019, with significant depreciation and amortization expenses impacting profitability[37] - Profit attributable to shareholders was HKD 24 million, compared to HKD 123 million in the previous year[55] Assets and Liabilities - Total assets as of April 30, 2020, amounted to HKD 2,770,285 thousand, a decrease from HKD 3,182,598 thousand as of October 31, 2019[6] - Non-current liabilities increased to HKD 789,132 thousand from HKD 532,350 thousand year-on-year[7] - Total liabilities increased to HKD 132.043 million from HKD 134.263 million year-on-year[47] - Current liabilities rose significantly to HKD 34.585 million from HKD 21.259 million year-on-year[47] - Trade receivables decreased to HKD 698,607,000 as of April 30, 2020, down from HKD 1,148,933,000 as of October 31, 2019, with a notable reduction in receivables aged less than 91 days[44] - Trade payables also decreased to HKD 424,711,000 as of April 30, 2020, compared to HKD 491,460,000 as of October 31, 2019, indicating improved cash flow management[46] - Total equity amounted to HKD 2,155,303,000, with retained earnings at HKD 1,574,894,000[8] Cash Flow - Cash and cash equivalents stood at HKD 1,248,443 thousand, slightly down from HKD 1,278,521 thousand in the previous year[6] - Net cash generated from operating activities was HKD 118,349,000, compared to HKD 166,255,000 in the previous year[11] - The company reported a net cash outflow from investing activities of HKD 10,019,000, a significant improvement from HKD 176,809,000 in the previous year[11] - The company experienced a net cash outflow from financing activities of HKD 106,139,000, contrasting with a net inflow of HKD 272,857,000 in the previous year[11] - Cash and cash equivalents at the end of the period were HKD 1,242,008,000, an increase from HKD 1,140,814,000 in the previous year[12] Lease and Financial Reporting Standards - The group adopted all new and revised Hong Kong Financial Reporting Standards effective from November 1, 2019, including HKFRS 16 on leases[15] - Under HKFRS 16, the group recognized right-of-use assets of HKD 256,913,000 and lease liabilities of HKD 256,913,000 as of April 30, 2020, compared to HKD 213,884,000 and HKD 213,884,000 respectively as of November 1, 2019[20] - The group chose not to recognize right-of-use assets and lease liabilities for certain low-value assets, expensing lease payments on a straight-line basis[19] - The group assessed lease terms, including options to extend, which significantly impacted the recognized lease liabilities and right-of-use assets[19] - The group classified its leases as operating leases when it acted as a lessor, with no transitional adjustments required under HKFRS 16[24] - The group applied practical expedients for leases with terms of 12 months or less, opting not to recognize right-of-use assets and liabilities[23] - The total assets increased by HKD 133,959,000 due to the recognition of additional right-of-use assets and lease liabilities upon the transition to HKFRS 16[26] - As of April 30, 2020, the company recognized right-of-use assets of HKD 259,808,000 and lease liabilities of HKD 182,656,000 due to the initial application of HKFRS 16[28] Revenue Breakdown - Revenue from the Greater China region was HKD 801,918,000 for the six months ended April 30, 2020, compared to HKD 1,475,477,000 in 2019, reflecting a decline of approximately 45.6%[33] - The company reported a decrease in revenue from the exhibition and project marketing services segment, generating HKD 1,480,562,000 for the six months ended April 30, 2020, down from HKD 2,057,309,000 in 2019, a decline of approximately 28%[32] - Revenue from visual brand experience decreased by 44.9% to HKD 81 million (2019: HKD 147 million)[57] - Revenue from museums, themed environments, interior decoration, and retail increased by 34.6% to HKD 276 million (2019: HKD 205 million)[57] - Revenue from conference and exhibition management decreased by 53.8% to HKD 30 million (2019: HKD 65 million)[57] - The number of exhibitions and projects where the company served as the designated service provider decreased by nearly 63% compared to the previous year[58] Strategic Initiatives - The company plans to continue its market expansion and product development strategies moving forward[10] - The company is continuing to diversify its client base, which helps to expand revenue sources across various industries[63] - The company has ongoing contracts with several international brands, including Infiniti and Mercedes-Benz, with projects expected to be completed in the second half of the fiscal year[63] - The group is undergoing a digital transformation strategy that has become a significant source of revenue and competitive advantage, particularly in retail smart showrooms and corporate digital exhibitions[75] - The company delivered virtual events for clients, including Huawei's Developer Conference, attracting over 10 million interactions and views[60] - A strategic alliance was formed with Migu Video to create an innovative VR virtual exhibition model, combining strengths in various digital and experiential marketing areas[61] Corporate Governance - The company has complied with the corporate governance code as per the listing rules, with a noted deviation regarding the separation of the roles of Chairman and CEO[88] - The company confirmed that all directors complied with the standard code of conduct for securities transactions during the period ended April 30, 2020[89] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed internal controls and financial reporting matters[90] Shareholder Information - Major shareholders include Pine Asset Management Limited with 462,167,186 shares, representing 37.33% of the issued share capital, and FMR LLC with 123,789,010 shares, representing 10.00%[85] - The total number of unexercised stock options as of April 30, 2020, is 5,180,000, with 2,029,000 held by directors and 3,151,000 held by employees[80] - The total expense recognized for stock options granted by the company for the six months ended April 30, 2020, is HKD 73,000, compared to HKD 53,000 for the same period in 2019[83]

Financial Performance - Total revenue for the year reached HKD 50.17 billion, an increase of 8.3% compared to HKD 46.31 billion in 2018[32]. - Core operating profit rose to HKD 3.895 billion, reflecting a growth of 6.4% from HKD 3.661 billion in the previous year[34]. - Net profit attributable to shareholders decreased by 5.4% to HKD 2.568 billion, down from HKD 2.715 billion in 2018[36]. - EBITDA increased by 2.8% to HKD 4.506 billion, compared to HKD 4.383 billion in 2018[37]. - Basic earnings per share were HKD 0.2076, a decline of 5.7% from HKD 0.2201 in the previous year[38]. - The group's total revenue from the Greater China region reached HKD 50.17 billion, accounting for 53.9% of total revenue, a decrease from 59.1% in the previous year[56]. - Revenue from the exhibition and project marketing services segment was HKD 38.88 billion, representing 77.5% of total revenue, with a profit of HKD 3.205 billion, down from HKD 3.281 billion the previous year[57]. - The revenue for the visual branding division was HKD 255 million in 2019, down from HKD 368 million in 2018, representing a decrease of 30.7%[70]. - The profit for the visual branding division was HKD 23.9 million in 2019, compared to HKD 42.8 million in 2018, a decline of 44.3%[71]. - The revenue for the museum and themed environment division increased to HKD 730 million in 2019 from HKD 359 million in 2018, marking a growth of 103.1%[77]. - The profit for the museum and themed environment division rose to HKD 71.5 million in 2019, up from HKD 30.5 million in 2018, an increase of 134.4%[77]. - The revenue from the event management segment was HKD 144 million in 2019, up from HKD 86 million in 2018, representing a growth of 67.4%[82]. - The profit from the event management segment increased to HKD 25.4 million in 2019, compared to HKD 20.1 million in 2018, marking a growth of 26.2%[82]. Acquisitions and Expansion - The company successfully acquired Local Projects, LLC in March 2019, enhancing its marketing capabilities[51]. - In June 2019, the acquisition of Infinity Marketing Team, LLC was completed, expanding the company's service offerings in experiential marketing[51]. - The acquisition of Not Ordinary Media, LLC (NOM) underperformed expectations, leading to a revision of cash flow forecasts for this cash-generating unit due to customer base restructuring and impairment losses on goodwill[52]. - The company has ongoing contracts for theme parks in Chongqing and Wuxi, continuing its expansion in the Chinese market[79]. - The group secured several contracts for the upcoming 2020 Dubai Expo, including the design and content development for multiple national pavilions[100]. - The group won a significant venue facilities contract for the Tokyo 2020 Olympics, providing technical design and construction services for the archery venue[101]. - The company is expanding its operations in Southeast Asia and India, with a focus on enhancing its digital capabilities[107]. - The company has established a visual branding experience division, with contracts for major restaurant brands and logistics platforms in China, indicating a strategic expansion in the domestic market[102]. Financial Position and Liquidity - The company maintained a current ratio of 1.44, slightly up from 1.42 in 2018, indicating improved liquidity[43]. - Total tangible assets decreased by 16.0% to approximately HKD 1.36 billion in 2019, down from HKD 1.62 billion in 2018[88]. - Cash and bank balances increased to HKD 1.29 billion in 2019 from HKD 871 million in 2018, representing a growth of 48.0%[90]. - Total borrowings rose significantly to HKD 612 million in 2019 from HKD 109 million in 2018, indicating a substantial increase in leverage[89]. - The debt ratio increased to 7.23% in 2019 from 0.39% in 2018, indicating a higher proportion of debt in the capital structure[92]. - The group reported total assets pledged as collateral for bank financing amounting to HKD 188,887 thousand, a slight decrease from HKD 194,114 thousand in the previous year[97]. - The company’s distributable reserves amount to HKD 840,073,000, a decrease from HKD 872,757,000 in the previous year[151]. Corporate Governance - The company has maintained compliance with the corporate governance code as per the Hong Kong Stock Exchange regulations for the fiscal year ending October 31, 2019[120]. - The board consists of four independent non-executive directors, ensuring a balance of power within the company's management structure[120]. - The company has adopted the standard code of conduct for securities transactions by directors, confirming compliance for the fiscal year ending October 31, 2019[121]. - The board is responsible for monitoring the company's business and governance policies, ensuring compliance with legal and regulatory requirements[122]. - The company has established a formal and transparent process for determining and monitoring the remuneration of directors and senior management[130]. - The company emphasizes timely disclosure of information to shareholders, with reports and announcements available on its website[143]. - The company has established a nomination policy for board members, considering factors such as company strategy and required skills for board composition[136]. - The company has a stock option plan approved on March 22, 2012, which allows the granting of options to eligible persons for a period of ten years[165]. - The company has not engaged in any related party transactions that require disclosure under the Listing Rules during the year[187]. - The company has maintained compliance with all relevant laws and regulations without any significant violations during the year[192]. Employee and Management - The company employed approximately 2,500 full-time staff globally, with a gender ratio close to 50:50 and over 70% of employees under the age of 40, highlighting the importance of attracting young talent for future growth[53]. - The group reported employee costs of approximately HKD 960 million for the year, an increase from HKD 865 million in the previous year, reflecting a growth of about 11%[99]. - The employee compensation policy is determined by the remuneration committee based on performance, qualifications, and market statistics[186]. - The management team is focused on leveraging data technology and innovative business models to enhance operational efficiency[107]. Future Outlook - The group is optimistic about growth in the 2020 fiscal year despite global economic uncertainties, focusing on delivering major projects and enhancing service innovation[103]. - The group anticipates greater contributions from acquisitions made in the US and UK over the past two years, starting in the 2020 fiscal year[103]. - The group continues to enhance its conference and exhibition management capabilities, with key projects planned for 2020 in Abu Dhabi and Singapore[103].

Financial Performance - The company reported revenue of HKD 2,474,057, an increase of 8.0% compared to HKD 2,291,184 in the same period last year[1]. - Gross profit for the six months ended April 30, 2019, was HKD 739,104, representing a gross margin of approximately 29.8%[1]. - Core operating profit increased to HKD 191,965, up from HKD 182,402, reflecting a growth of 5.9% year-over-year[1]. - The net profit for the period was HKD 119,489, a decrease of 9.1% from HKD 131,494 in the previous year[2]. - Basic earnings per share decreased to 9.95 cents from 10.38 cents, a decline of 4.1%[2]. - Total comprehensive income for the period was HKD 163,496, down from HKD 206,662, indicating a decrease of 20.9%[4]. - The group’s consolidated profit before tax was HKD 152,546,000 for the six months ended April 30, 2019, down from HKD 168,926,000 in the previous year, indicating a decrease of about 10%[40]. - Profit attributable to shareholders decreased by 3.9% to HKD 123 million, down from HKD 128 million in the previous year[72]. - Basic and diluted earnings per share were HKD 123,042,000 for the six months ended April 30, 2019, compared to HKD 127,897,000 in 2018, reflecting a decline of 3.4%[50]. Assets and Liabilities - Non-current assets increased to HKD 1,620,452 from HKD 1,407,019, reflecting a growth of 15.1%[5]. - Current liabilities rose to HKD 1,993,467, compared to HKD 1,912,918, an increase of 4.2%[6]. - The company's total assets less current liabilities amounted to HKD 2,554,466, up from HKD 2,206,061, representing a growth of 15.8%[6]. - The company's equity attributable to shareholders increased to HKD 1,961,645 from HKD 1,912,441, a rise of 2.6%[6]. - Total equity amounted to HKD 1,999,862,000, reflecting an increase of 206,662,000 or 9.8% compared to the previous period[8]. - Retained earnings reached HKD 1,497,584,000, with a decrease of 11,001,000 or 0.7% from the prior period[7]. - The total net tangible assets attributable to shareholders decreased by 9.4% to approximately HKD 1.472 billion as of April 30, 2019, compared to HKD 1.624 billion on October 31, 2018[87]. Cash Flow - Cash generated from operating activities was HKD 166,255,000, a significant increase from HKD 59,988,000 in the previous year[9]. - Net cash used in investing activities was HKD (176,809,000), compared to HKD (77,626,000) in the same period last year[9]. - Cash generated from financing activities was HKD 272,857,000, contrasting with cash used of HKD (181,708,000) in the previous year[9]. - The total cash and cash equivalents at the end of the period stood at HKD 1,140,814,000, up from HKD 926,404,000 a year earlier[10]. - The group’s cash and cash equivalents increased to HKD 18,409,000 from HKD 12,711,000 year-over-year[62]. Financial Reporting Standards - The group adopted all new and revised Hong Kong Financial Reporting Standards effective from November 1, 2018, with no significant changes to accounting policies or reported amounts[12]. - The adoption of HKFRS 9 resulted in a reclassification of financial assets, including club memberships reclassified to fair value through other comprehensive income, impacting retained earnings by HKD 199,000[21]. - The group has not made significant changes to the accounting policies due to the adoption of HKFRS 9, except for the reclassification and measurement adjustments[14]. - The company has adopted HKFRS 15, which establishes a comprehensive framework for revenue recognition, with no significant impact on the recognition of construction contract revenue[31]. Revenue Segments - The exhibition and project marketing services segment recorded revenue growth of 4.9% to HKD 2.057 billion[73]. - The visual brand experience segment saw revenue increase of 2.8% to HKD 147 million[73]. - Revenue from museums, themed environments, interior decoration, and retail grew by 20.6% to HKD 205 million[73]. - The conference and exhibition management segment experienced a significant revenue increase of 261.1% to HKD 65 million[73]. - The group reported external customer revenue of HKD 2,474,057,000 for the six months ended April 30, 2019, compared to HKD 2,291,184,000 for the same period in 2018, representing an increase of approximately 8%[39]. Investments and Acquisitions - The company acquired 51% of Futr World Limited and 100% of Local Projects, LLC, with the fair value of intangible assets pending valuation completion[53]. - The company acquired MTM Choice LLC, enhancing its service offerings in the integration of physical design and digital media[84]. - The company secured significant contracts for the Tokyo 2020 Olympics, including the provision of over 5,000 temporary seats[92]. - The company anticipates completing a major contract for the Jewel Changi Airport in Singapore by June 2019[94]. - The company plans to continue its investment strategy in the UK and the US through potential acquisitions[95]. Employee and Operational Costs - Employee costs rose to HKD 453 million for the six months ended April 30, 2019, compared to HKD 393 million for the same period in 2018[91]. - The group incurred subcontracting costs of HKD 8,619,000 during the six months ended April 30, 2019, compared to HKD 14,792,000 in the previous year[68]. Corporate Governance and Shareholder Information - The company has complied with the corporate governance code, except for the deviation where the roles of Chairman and CEO are held by the same individual[108]. - As of April 30, 2019, Pine Asset Management Limited held 462,167,186 shares, representing 37.34% of the issued share capital[105]. - FMR LLC owned 122,489,610 shares, accounting for 9.90% of the issued share capital[105]. - The company did not purchase, sell, or redeem any of its listed securities during the period ended April 30, 2019[107].

Financial Performance - The company's revenue reached HKD 46.31 billion, an increase of 16.4% compared to HKD 39.79 billion in the previous year[4] - EBITDA was HKD 4.383 billion, up from HKD 4.204 billion in the previous year, representing a growth of 4.3%[4] - Core operating profit increased to HKD 3.661 billion, compared to HKD 3.596 billion in the previous year, reflecting a growth of 1.8%[4] - The profit attributable to shareholders was HKD 2.715 billion, a decrease of 3.5% from HKD 2.814 billion in the previous year[4] - The company maintained a return on equity of 14.18%, down from 15.23% in the previous year[4] - The Greater China region accounted for 46.31 billion HKD in total revenue, representing 59.1% of the group's total revenue, a decrease from 62.4% in the previous year[9] - The exhibition and project marketing services segment generated revenue of 38.18 billion HKD, which is 82.4% of the group's total revenue, up from 80.1% in the previous year[11] - The group achieved a profit of 3.281 billion HKD in the exhibition segment, slightly up from 3.174 billion HKD in the previous year[13] - The visual branding division generated revenue of HKD 368 million in 2018, up from HKD 348 million in 2017, accounting for 7.9% of total group revenue[21] - The division's profit increased to HKD 42.8 million in 2018 from HKD 33.5 million in 2017[23] - The conference and exhibition management segment generated revenue of HKD 86 million in 2018, down from HKD 145 million in 2017, representing 1.9% of the group's total revenue[31] - The profit for the conference and exhibition management segment decreased to HKD 20.1 million in 2018 from HKD 26.5 million in 2017[31] Operational Strategies - The company has invested in new strategies and platforms to enhance operational efficiency and performance[2] - The "Pico+" strategy focuses on audience-responsive and data-driven brand engagement solutions[2] - The "Pico X" strategy aims to integrate advanced technologies to improve operational efficiency and performance[2] - The group implemented the PIKX strategy for digital integration, focusing on data intelligence and analytics to enhance client and corporate objectives[8] - The group aims to create a sustainable ecosystem through a centralized deployment center for project management, procurement, and production processes[8] - The new strategy, including the Penke+ strategy, aims to diversify revenue sources and capture opportunities from Generation Z, contributing to future growth[44] - The group has implemented a customer diversification strategy across all business segments to mitigate the impact of industry cyclical downturns[44] Market Presence and Expansion - The company operates in 37 cities globally, employing over 2,000 staff with diverse expertise[5] - The group successfully acquired Camron Public Relations Limited, enhancing its service offerings in the high-end and luxury sectors[7] - The Middle East region contributed 6.2% to total revenue, an increase from 5.8% in the previous year[10] - The group has established 44 permanent offices in 37 cities, maintaining a flexible global operational model[7] - The company has expanded its client base beyond the automotive sector to include infrastructure development and public transportation industries, responding to China's investment in improving living conditions[22] - The company is expanding its exhibition venue management capabilities in China, with the Jinjiang International Exhibition Center expected to provide approximately 50,000 square meters of exhibition space, set to be completed in early 2020[45] - The company has secured contracts for multiple biennial exhibitions in Singapore, including the Asian International Defense Exhibition and Conference, with contracts running from 2018 to 2026[45] - The company is actively seeking opportunities to host more events with proprietary intellectual property, which will allow for business expansion and future revenue generation[45] Financial Position and Assets - Total tangible assets of the group decreased by 5.4% to approximately HKD 1.624 billion as of the fiscal year-end, down from HKD 1.717 billion in 2017[35] - Cash and bank balances were HKD 884 million in 2018, down from HKD 1.105 billion in 2017, with a net cash balance of HKD 775 million after deducting external borrowings[35] - The total borrowings as of October 31, 2018, amounted to HKD 109 million, an increase from HKD 81 million in 2017[36] - The current ratio was 1.42 times in 2018, down from 1.57 times in 2017, indicating a decrease in liquidity[37] - The debt ratio was 0.39% in 2018, significantly lower than 1.91% in 2017, reflecting improved financial stability[38] - The group invested HKD 133 million in property, plant, and equipment in 2018, compared to HKD 62 million in 2017[36] - The total value of mortgaged assets as of October 31, 2018, was HKD 194.1 million, up from HKD 155.37 million in 2017[41] - The group issued financial guarantees totaling HKD 85.7 million in 2018, compared to HKD 79.72 million in 2017[42] Governance and Management - The company is committed to maintaining high standards of corporate governance through its independent board members[46] - The leadership team is well-connected in the industry, with members involved in various international business and investment initiatives[46] - The company has a strong board of directors with members holding degrees from prestigious universities and extensive industry experience[46] - The company has appointed a new independent non-executive director, who has extensive experience in the insurance industry and has served in various leadership roles[46] - The management team has a strong educational background, with degrees from institutions such as the University of Sydney and Harvard Business School[46] - The company is focused on growth in the Greater China region and is managing venture capital funds[46] Compliance and Risk Management - The company maintained a high level of corporate governance, adhering to the Hong Kong Stock Exchange's corporate governance code[57] - The board is responsible for the effectiveness of risk management and internal control systems, with ongoing reviews conducted by the internal audit department[73] - The company has established a group risk management committee to set, implement, and monitor risk management policies and procedures[73] - The independent auditor's report confirmed that the consolidated financial statements fairly reflect the group's financial position as of October 31, 2018[125] - Key audit matters identified include the recoverability of trade receivables and the accounting treatment of acquisitions[127] Future Outlook and Changes - The company plans to adopt the new Hong Kong Financial Reporting Standard No. 9, which introduces new classification and measurement regulations for financial assets, effective from January 1, 2018[166] - The expected impact of adopting HKFRS 9 includes the reclassification of certain non-listed equity securities to be measured at fair value through other comprehensive income, with impairment losses recognized in other comprehensive income rather than profit or loss[168] - The company anticipates that the application of the expected credit loss model under HKFRS 9 will lead to earlier recognition of credit losses, although detailed assessments are still pending[169] - HKFRS 15 establishes a comprehensive framework for revenue recognition, replacing existing revenue standards, and will be effective from January 1, 2018[170] - The group plans to adopt a simplified transition approach and will not restate prior year comparative amounts upon first-time adoption of HKFRS 16[176]