[Financial Highlights](index=2&type=section&id=Financial%20Highlights) [Overall Performance](index=2&type=section&id=Overall%20Performance) For the six months ended April 30, 2024, the Group achieved strong financial performance with total revenue growing 18% to **HKD 2.942 billion**, core operating profit increasing 53% to **HKD 267 million**, and profit attributable to company shareholders rising 90% to **HKD 192 million**, with basic earnings per share at **15.47 HK cents** Key Financial Indicators for H1 2024 | Indicator | Six Months Ended April 30, 2024 | Six Months Ended April 30, 2023 | YoY Change | | :--- | :--- | :--- | :--- | | **Revenue** | HKD 2.942 billion | HKD 2.493 billion | +18% | | **Core Operating Profit** | HKD 267 million | HKD 174 million | +53% | | **Profit Attributable to Company Shareholders** | HKD 192 million | HKD 101 million | +90% | | **Basic Earnings Per Share** | 15.47 HK cents | 8.17 HK cents | +89.3% | - The Board recommended an interim dividend of **5.5 HK cents** per ordinary share, a **175% increase** from **2.0 HK cents** in the prior year period[136](index=136&type=chunk) [Consolidated Financial Statements](index=2&type=section&id=Consolidated%20Financial%20Statements) [Condensed Consolidated Income Statement](index=2&type=section&id=Consolidated%20Income%20Statement) During the period, the Group's revenue increased 18.0% to **HKD 2.942 billion**, gross profit rose 24.1% to **HKD 872 million**, operating profit surged 61.5% to **HKD 254 million**, and profit for the period reached **HKD 199 million**, up 94.2% Condensed Consolidated Income Statement | Item | Six Months Ended April 30, 2024 (thousand HKD) | Six Months Ended April 30, 2023 (thousand HKD) | | :--- | :--- | :--- | | Revenue | 2,942,002 | 2,493,180 | | Gross Profit | 871,855 | 702,755 | | Core Operating Profit | 267,290 | 173,808 | | Operating Profit | 254,156 | 157,332 | | Profit Before Tax | 239,658 | 136,188 | | Profit for the Period | 198,809 | 102,385 | | Profit Attributable to Company Shareholders | 191,701 | 101,111 | | Basic Earnings Per Share | 15.47 cents | 8.17 cents | [Condensed Consolidated Statement of Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Comprehensive%20Income) The Group reported a profit for the period of **HKD 199 million**, with other comprehensive income significantly reduced to **HKD 20.68 million** due to foreign exchange differences, resulting in a total comprehensive income of **HKD 219 million**, largely consistent with **HKD 221 million** in the prior year Condensed Consolidated Statement of Comprehensive Income | Item | Six Months Ended April 30, 2024 (thousand HKD) | Six Months Ended April 30, 2023 (thousand HKD) | | :--- | :--- | :--- | | Profit for the Period | 198,809 | 102,385 | | Other Comprehensive Income for the Period, Net of Tax | 20,683 | 119,081 | | **Total Comprehensive Income for the Period** | **219,492** | **221,466** | | Total Comprehensive Income Attributable to Company Shareholders | 212,316 | 219,785 | [Condensed Consolidated Balance Sheet](index=4&type=section&id=Consolidated%20Balance%20Sheet) As of April 30, 2024, the Group's total assets were **HKD 5.17 billion**, total liabilities **HKD 2.72 billion**, and net assets (total equity) **HKD 2.449 billion**, a 5.1% increase from the beginning of the period, with net current assets stable at **HKD 1.132 billion** and cash balances at **HKD 1.476 billion** Summary of Financial Position | Item | April 30, 2024 (thousand HKD) | October 31, 2023 (thousand HKD) | | :--- | :--- | :--- | | Non-current Assets | 1,585,576 | 1,594,742 | | Current Assets | 3,584,799 | 3,465,765 | | Current Liabilities | 2,452,744 | 2,336,406 | | Non-current Liabilities | 269,105 | 394,163 | | **Net Assets** | **2,448,526** | **2,329,938** | | **Equity Attributable to Company Shareholders** | **2,387,228** | **2,261,271** | [Condensed Consolidated Statement of Changes in Equity](index=6&type=section&id=Consolidated%20Statement%20of%20Changes%20in%20Equity) As of April 30, 2024, equity attributable to company shareholders increased from **HKD 2.261 billion** to **HKD 2.387 billion**, primarily driven by **HKD 192 million** profit for the period, partially offset by **HKD 86.78 million** in final dividends paid - Beginning equity attributable to shareholders was **HKD 2,261,271 thousand**, with profit for the period contributing **HKD 191,701 thousand**, and the 2023 final dividend payout consuming **HKD 86,781 thousand**, resulting in an ending equity attributable to shareholders of **HKD 2,387,228 thousand**[22](index=22&type=chunk) [Condensed Consolidated Cash Flow Statement](index=8&type=section&id=Consolidated%20Cash%20Flow%20Statement) During the period, net cash from operating activities increased 17.8% to **HKD 286 million**, net cash used in investing activities significantly decreased to **HKD 66.36 million**, and net cash used in financing activities decreased to **HKD 156 million**, leading to a net increase in cash and cash equivalents of **HKD 64.10 million**, reversing the prior year's decrease, with an ending balance of **HKD 1.246 billion** Summary of Cash Flow Statement | Item | Six Months Ended April 30, 2024 (thousand HKD) | Six Months Ended April 30, 2023 (thousand HKD) | | :--- | :--- | :--- | | Net Cash Generated from Operating Activities | 286,062 | 242,729 | | Net Cash Used in Investing Activities | (66,360) | (125,544) | | Net Cash Used in Financing Activities | (155,607) | (200,136) | | **Net Increase (Decrease) in Cash and Cash Equivalents** | **64,095** | **(82,951)** | | Cash and Cash Equivalents at End of Period | 1,246,180 | 1,351,778 | [Notes to the Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20the%20Consolidated%20Financial%20Statements) [1. Basis of Preparation and Key Accounting Policies](index=9&type=section&id=1.%20Basis%20of%20Preparation%20and%20Key%20Accounting%20Policies) These interim financial statements are prepared under HKAS 34, with the Group adopting new and revised HKFRSs, including amendments to HKAS 12 on deferred tax and the Pillar Two Model Rules, and retrospectively applying accounting guidance on the abolition of the MPF offsetting mechanism, none of which had a material impact on the financial statements - The Group adopted amendments to HKAS 12, 'Deferred Tax related to Assets and Liabilities arising from a Single Transaction,' narrowing the scope of initial recognition exemption, but with no material impact on the statement of financial position[27](index=27&type=chunk)[96](index=96&type=chunk) - The Group first adopted amendments related to 'International Tax Reform—Pillar Two Model Rules' and applied the relevant temporary exception provisions[48](index=48&type=chunk)[49](index=49&type=chunk) - In response to the abolition of the MPF offsetting mechanism in Hong Kong, the Group retrospectively applied relevant accounting guidance to provide more reliable information[50](index=50&type=chunk)[86](index=86&type=chunk) [2. Fair Value Measurement](index=11&type=section&id=2.%20Fair%20Value%20Measurement) The report details fair value measurement hierarchies for financial assets and liabilities, with most financial assets measured at Level 2 (observable inputs like fund investments) and Level 3 (unobservable inputs like unlisted equity securities), for which management uses discounted cash flow, recent transaction prices, and option pricing models for valuation Financial Assets Measured at Fair Value (April 30, 2024) | Asset Class | Level 1 (thousand HKD) | Level 2 (thousand HKD) | Level 3 (thousand HKD) | Total (thousand HKD) | | :--- | :--- | :--- | :--- | :--- | | Financial Assets at FVTOCI | – | – | 19,061 | 19,061 | | Financial Assets at FVTPL | – | 20,948 | 1,908 | 22,856 | | **Total** | **–** | **20,948** | **20,969** | **41,917** | - Level 3 fair value financial instruments primarily include unlisted equity securities, investments in simple agreements for future equity, and contingent consideration, valued using discounted cash flow, recent transaction prices, and income approaches[60](index=60&type=chunk)[41](index=41&type=chunk)[69](index=69&type=chunk) [3. Revenue and Segment Information](index=14&type=section&id=3.%20Revenue%20and%20Segment%20Information) The Group's revenue is primarily derived from four business segments, with 'Exhibitions, Events and Brand Activation' being the largest contributor at approximately **86%** of total revenue, while the Greater China region accounts for the largest share at approximately **46%**, with all segments and key regional markets achieving year-on-year revenue growth Revenue by Business Segment (External Customers) | Business Segment | H1 2024 Revenue (thousand HKD) | H1 2023 Revenue (thousand HKD) | | :--- | :--- | :--- | | Exhibitions, Events and Brand Activation | 2,540,122 | 2,149,148 | | Visual Brand Activation | 160,073 | 159,912 | | Museums and Themed Entertainment | 182,712 | 152,597 | | Conference and Show Management | 59,095 | 31,523 | | **Total** | **2,942,002** | **2,493,180** | Revenue by Geographical Region | Region | H1 2024 Revenue (thousand HKD) | H1 2023 Revenue (thousand HKD) | | :--- | :--- | :--- | | Greater China | 1,346,371 | 1,268,773 | | Southeast Asia | 682,955 | 440,039 | | Middle East | 392,699 | 317,433 | | UK and US | 408,103 | 359,753 | | Others | 111,874 | 107,182 | | **Consolidated Total** | **2,942,002** | **2,493,180** | [4. & 5. Finance Costs and Income Tax Expense](index=16&type=section&id=4.%20%26%205.%20Finance%20Costs%20and%20Income%20Tax%20Expense) During the period, the Group's finance costs decreased to **HKD 16.18 million** from **HKD 20.58 million** due to lower borrowing interest, while income tax expense increased to **HKD 40.85 million** from **HKD 33.80 million**, consistent with the growth in profit before tax Finance Costs and Income Tax Expense | Item | Six Months Ended April 30, 2024 (thousand HKD) | Six Months Ended April 30, 2023 (thousand HKD) | | :--- | :--- | :--- | | Finance Costs | 16,176 | 20,580 | | Income Tax Expense | 40,849 | 33,803 | [7. & 8. Dividends and Earnings Per Share (EPS)](index=18&type=section&id=7.%20%26%208.%20Dividends%20and%20Earnings%20Per%20Share%20%28EPS%29) The Group paid a 2023 final dividend of **7.0 HK cents** per share, totaling **HKD 86.78 million**, and the Board resolved to declare a 2024 interim dividend of **5.5 HK cents** per share, significantly higher than **2.0 HK cents** in the prior period, with basic EPS at **15.47 HK cents** and diluted EPS at **15.45 HK cents**, both substantially up year-on-year - The 2023 final dividend paid was **7.0 HK cents** per share, totaling **HKD 86,781 thousand**[105](index=105&type=chunk) - The Board resolved to declare a 2024 interim dividend of **5.5 HK cents** per share (2023: **2.0 HK cents**)[106](index=106&type=chunk) Earnings Per Share Calculation | Item | Six Months Ended April 30, 2024 | Six Months Ended April 30, 2023 | | :--- | :--- | :--- | | Profit (thousand HKD) | 191,701 | 101,111 | | Weighted Average Number of Ordinary Shares (Basic) | 1,239,471,873 | 1,238,350,038 | | Weighted Average Number of Ordinary Shares (Diluted) | 1,241,132,205 | 1,238,971,680 | [Key Balance Sheet Items](index=19&type=section&id=Key%20Balance%20Sheet%20Items) At period-end, the Group's property, plant, and equipment had a carrying value of **HKD 510 million**, intangible assets **HKD 453 million**, trade receivables **HKD 716 million** (mostly within 91 days), and trade payables **HKD 321 million**, with **610,000 new shares** issued during the period due to share option exercises - Trade receivables at period-end were approximately **HKD 716 million**, with about **78%** (**HKD 557 million**) aged within 91 days[113](index=113&type=chunk) - Trade payables at period-end were approximately **HKD 321 million**, with about **75%** (**HKD 240 million**) aged within 91 days[115](index=115&type=chunk) - During the period, **610,000 ordinary shares** were issued due to the exercise of share options[117](index=117&type=chunk)[122](index=122&type=chunk) [18. & 19. Commitments and Contingencies](index=22&type=section&id=18.%20%26%2019.%20Commitments%20and%20Contingencies) As of April 30, 2024, the Group had contracted but unprovided capital commitments of **HKD 4.64 million** and provided guarantees totaling approximately **HKD 79.75 million** for performance bonds and other matters, for which directors believe the likelihood of claims is remote Capital Commitments and Guarantees | Item | April 30, 2024 (thousand HKD) | October 31, 2023 (thousand HKD) | | :--- | :--- | :--- | | Capital Commitments (Contracted but not provided for) | 4,635 | 3,543 | | Performance Guarantees | 66,437 | 106,376 | | Other Guarantees | 13,317 | 1,423 | [21. Subsequent Events](index=23&type=section&id=21.%20Subsequent%20Events) On May 31, 2024, the Group exercised a put option to acquire the remaining **40%** equity interest in indirect non-wholly owned subsidiary Infinity Marketing Team, LLC (IMT) for approximately **USD 30.07 million**, making IMT an indirect wholly-owned subsidiary - Subsequent to the reporting period, the Group acquired the remaining **40%** equity interest in Infinity Marketing Team, LLC (IMT) for a cash consideration of approximately **HKD 235 million** (**USD 30,070,118.39**), making it a wholly-owned subsidiary[133](index=133&type=chunk) [Management Discussion and Analysis](index=24&type=section&id=Management%20Discussion%20and%20Analysis) [Operations Review](index=24&type=section&id=Operations%20Review) Despite global economic challenges, the Group achieved strong growth in H1, leveraging its integrated brand experience framework and 'content, community, creativity, and data' strategy, with sustained growth in Greater China, strong momentum in Southeast Asia, effective investments in the Middle East, steady recovery in the US and Europe, and all business segments recording revenue growth, most notably 'Conference and Show Management' - The Group achieved good progress across key markets (Mainland China, Southeast Asia, Middle East, US, Europe) by integrating data and digital elements into comprehensive cross-platform solutions[137](index=137&type=chunk)[138](index=138&type=chunk) - The Group strategically divested **45%** equity in InfocommAsia Pte Ltd. to reallocate resources and focus on core businesses[138](index=138&type=chunk) [Exhibitions, Events and Brand Activation](index=25&type=section&id=Exhibitions%2C%20Events%20and%20Brand%20Activation) As the Group's largest segment, revenue grew **18.2%** to **HKD 2.54 billion**, demonstrating strong momentum, with the Group providing services for major global exhibitions like Mobile World Congress and Dubai Airshow, and creating innovative digital-integrated brand activation projects for clients such as State Farm and Xiaomi Segment Revenue Performance | Business Segment | H1 2024 Revenue | H1 2023 Revenue | YoY Growth | | :--- | :--- | :--- | :--- | | Exhibitions, Events and Brand Activation | HKD 2.54 billion | HKD 2.149 billion | +18.2% | - The Group provides services for numerous renowned global exhibitions and continuously integrates digital interactive elements such as AI, Web3, and VR/AR into cross-platform project solutions[148](index=148&type=chunk)[149](index=149&type=chunk)[150](index=150&type=chunk) [Visual Brand Activation](index=28&type=section&id=Visual%20Brand%20Activation) Despite intensified competition in China's EV market, this segment's revenue remained stable at **HKD 160 million**, consistent with the prior year, as the Group strengthened its market position and secured key contracts by focusing on leading automotive brands like Kia and GAC Aion and leveraging innovative digital tools Segment Revenue Performance | Business Segment | H1 2024 Revenue | H1 2023 Revenue | YoY Growth | | :--- | :--- | :--- | :--- | | Visual Brand Activation | HKD 160 million | HKD 160 million | 0% | - The Group was appointed as the exclusive service provider for Kia China's new EV showrooms and provides visual brand services for **150 retail stores** of GAC Aion's premium brand, Hyper[154](index=154&type=chunk) [Museums and Themed Entertainment](index=29&type=section&id=Museums%20and%20Themed%20Entertainment) Revenue for this segment grew **20.4%** to **HKD 183 million**, driven by the smooth progress of ongoing projects and completion of several significant ones, including the well-progressing 11 SKIES themed attraction project in Hong Kong with K11 Group, poised to be a future landmark retail and entertainment destination Segment Revenue Performance | Business Segment | H1 2024 Revenue | H1 2023 Revenue | YoY Growth | | :--- | :--- | :--- | :--- | | Museums and Themed Entertainment | HKD 183 million | HKD 152 million | +20.4% | - The Group's 11 SKIES themed attraction project in Hong Kong, in collaboration with K11 Group and adjacent to Hong Kong International Airport, is progressing well and is set to become a future retail and entertainment landmark[158](index=158&type=chunk) [Conference and Show Management](index=30&type=section&id=Conference%20and%20Show%20Management) This segment performed exceptionally well, with revenue surging **84.4%** to **HKD 59 million** as demand for conferences and conventions recovered, leveraging the Group's 'content, community, creativity, and data' strategy, along with smart technology and AI-driven data analytics, to provide deeper insights and effective content for clients Segment Revenue Performance | Business Segment | H1 2024 Revenue | H1 2023 Revenue | YoY Growth | | :--- | :--- | :--- | :--- | | Conference and Show Management | HKD 59 million | HKD 32 million | +84.4% | - The Group capitalized on the recovery in demand for conferences and conventions in key markets like Southeast Asia, achieving rapid business growth[160](index=160&type=chunk) [Liquidity and Financial Resources](index=31&type=section&id=Liquidity%20and%20Financial%20Resources) The Group's financial position is robust, with net cash balance (bank and cash balances less borrowings) significantly increasing to **HKD 1.146 billion** from **HKD 904 million** at period-end, total borrowings decreasing to **HKD 344 million**, and the gearing ratio falling from **6.20%** to **3.64%**, indicating reduced financial risk and ample liquidity Cash and Borrowing Position (million HKD) | Item | April 30, 2024 | October 31, 2023 | | :--- | :--- | :--- | | Bank and Cash Balances | 1,490 | 1,294 | | Less: Borrowings | (344) | (390) | | **Net Cash Balance** | **1,146** | **904** | Key Financial Ratios | Ratio | April 30, 2024 | October 31, 2023 | | :--- | :--- | :--- | | Current Ratio | 1.46 times | 1.48 times | | Gearing Ratio | 3.64% | 6.20% | [Human Resources](index=32&type=section&id=Human%20Resources) As of April 30, 2024, the Group employed approximately **2,600 full-time staff** globally, with staff costs increasing to **HKD 656 million** from **HKD 454 million** in the prior period, and its remuneration policy is linked to employee performance and regional trends, offering discretionary bonuses and share options as incentives - As of period-end, the Group had approximately **2,600 full-time employees**, with staff costs for the period totaling **HKD 656 million**[169](index=169&type=chunk) [Outlook](index=32&type=section&id=Outlook) The Group is optimistic about its future, poised to capture a larger market share in the recovering economy, supported by a robust pipeline of diverse projects, unique digital experience expertise, and the full acquisition of Infinity Marketing Team, LLC (IMT), while continuing to focus on innovation, integrating AI, data, and Web3 technologies to expand into new markets and sustain profit growth for long-term shareholder value - The Group possesses a strong project pipeline for the second half of the fiscal year and beyond, covering various sectors including exhibitions, automotive projects, and art festivals[172](index=172&type=chunk)[174](index=174&type=chunk) - The full acquisition of IMT will help the Group expand its service expertise and business network in the US, driving new business development[174](index=174&type=chunk)[133](index=133&type=chunk) - The Visual Brand Activation segment will continue to benefit from growth in the EV sector and has been appointed by BYD as one of its qualified suppliers for future global large-scale center projects[175](index=175&type=chunk)[176](index=176&type=chunk) - The Museums and Themed Entertainment segment has secured major project contracts, including the Hong Kong Museum of History, Wetland Park, and a Hollywood movie theme park in Japan, with expected completion between 2025 and 2026[178](index=178&type=chunk)[183](index=183&type=chunk) [Corporate Governance and Other Information](index=36&type=section&id=Corporate%20Governance%20and%20Other%20Information) [Directors' and Shareholders' Interests](index=36&type=section&id=Directors%27%20and%20Shareholders%27%20Interests) The report discloses directors' and major shareholders' interests in the company's shares, with Pine Asset Management Limited being the largest shareholder at **37.28%** as of April 30, 2024, and institutional investors like FMR LLC and Brandes Investment Partners, L.P. also holding significant positions Major Shareholder Holdings (April 30, 2024) | Shareholder Name | Capacity | Number of Shares Held | Percentage of Issued Share Capital | | :--- | :--- | :--- | :--- | | Pine Asset Management Limited | Beneficial Owner | 462,167,186 | 37.28% | | FMR LLC | Interest of Controlled Corporation | 123,789,010 | 9.99% | | Brandes Investment Partners, L.P. | Investment Manager | 99,023,157 | 7.99% | | FIL Limited | Interest of Controlled Corporation | 89,813,000 | 7.24% | [Share Option Schemes](index=36&type=section&id=Share%20Option%20Schemes) The company operates a share option scheme adopted in 2022, with **17,416,000 outstanding share options** under the 2012 and 2022 schemes as of period-end, during which **610,000 options** were exercised, and **HKD 433,000** in share option expenses were recognized - As of April 30, 2024, there were **17,416,000 outstanding share options** under the 2012 and 2022 schemes[197](index=197&type=chunk)[198](index=198&type=chunk) - During the period, **610,000 share options** were exercised at exercise prices of **HKD 1.154** and **HKD 1.300** respectively[198](index=198&type=chunk) - The Group recognized total expenses of **HKD 433,000** for share options granted during the period[208](index=208&type=chunk) [Corporate Governance](index=41&type=section&id=Corporate%20Governance) During the reporting period, the company complied with the Corporate Governance Code, with one deviation: the roles of Chairman and Chief Executive Officer are not separate, but the Board believes the existing arrangement maintains a strong management position with sufficient power balance, and the Audit Committee has reviewed these interim financial statements - The company complies with the Corporate Governance Code, with one deviation: the roles of Chairman and Chief Executive Officer are held by the same individual, an arrangement the Board believes maintains a strong management position with sufficient power balance[216](index=216&type=chunk) - The Audit Committee, together with management, has reviewed the Group's accounting principles, internal controls, and unaudited interim financial statements[218](index=218&type=chunk)

本集團之酬金政策乃按個別僱員之表現及根據各地區之薪酬趨勢而制訂，並將每年定 期檢討。除公積金計劃及醫療保險外，亦會根據個別僱員之表現評估而給予僱員酌情 花紅及僱員購股權。 資產抵押 於二零二四年四月三十日，以下資產已被抵押作為若干銀行向本集團授出信貸融資之 抵押品。 | --- | --- | --- | |--------------------|------------|--------------| | | | | | | 二零二四年 | 二零二三年 | | | 四月三十日 | 十月三十一日 | | | 未經審核 | 經審核 | | | 千港元 | 千港元 | | 永久業權土地及樓宇 | 50,021 | 50,510 | | 租賃土地及樓宇 | 93,012 | 94,887 | | 已抵押銀行存款 | 14,381 | 3,711 | | | | | | | 157,414 | 149,108 | – 24 – 或然負債 | --- | --- | --- | |------------------------------------------------|-------------------- ...

賈殷殷 集團首席數字官 52歲，她於二零一八年加入本集團，在品牌傳訊及數碼策略 擁有逾25年經驗。她現時負責推動本集團的數碼轉型。她擁 有南加州大學馬歇爾商學院的環球行政人員工商管理碩士學 位，目前為香港城市大學的工商管理學博士課程學習夥伴， 並獲該校商學院頒發DBA知識貢獻獎。 22 筆克遠東集團有限公司 | --- | --- | |-------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------| | 張志強 | 梁誠 | | 企業發展和人力資源總監 | 高級副總裁－營運管理（中國） | | 57 歲，他於一九九三年加入本集團，在展覽及活動行業擁有 | 執行董事（北京、天津及西安筆克） | | 30 年經驗。他現時負責監管本集團在場館管理及人力資源方 | 56 歲，他於二零零八年加入本集團，在展覽及活動行業擁有 | | 面的企業發展， ...

Financial Performance - The company's revenue for the year ended October 31, 2023, was HKD 5,327,931 thousand, an increase from HKD 4,541,018 thousand in the previous year, representing a growth of approximately 17.3%[41]. - Gross profit for the same period was HKD 1,590,594 thousand, compared to HKD 1,359,069 thousand in the prior year, indicating a year-over-year increase of about 17%[41]. - The core operating profit rose to HKD 359,951 thousand, up from HKD 208,894 thousand, reflecting a significant increase of approximately 72.5%[41]. - The net profit attributable to shareholders for the year was HKD 228,083 thousand, compared to HKD 162,642 thousand in the previous year, marking an increase of around 40.3%[41]. - Basic earnings per share increased to 18.41 cents from 13.13 cents, representing a growth of approximately 40.3%[41]. - Total comprehensive income for the year was HKD 268,288 thousand, compared to a loss of HKD 41,196 thousand in the previous year[36]. - The company reported a significant increase in profit before tax to HKD 301,132 thousand, compared to HKD 183,345 thousand in the previous year, representing a growth of approximately 64.3%[41]. - The total profit for the reportable segments in 2023 was HKD 376,342, up 61.5% from HKD 232,663 in 2022[56]. - The company reported a pre-tax profit of HKD 288,760 for 2023, compared to HKD 180,890 in 2022, marking a growth of 59.7%[63]. Revenue Breakdown - Revenue from external customers in the exhibition and project activation segment was HKD 4,413,088,000, accounting for 82.8% of total revenue[54]. - Revenue from exhibitions, projects, and brand activations amounted to HKD 4.413 billion, up from HKD 3.690 billion in the previous year, reflecting a growth of 19.6%[73]. - Revenue from visual brand activations was HKD 383.4 million, slightly up from HKD 363.9 million, indicating a growth of 5.4%[73]. - Revenue from museum and theme entertainment was HKD 396.9 million, a marginal increase from HKD 394.5 million, showing a growth of 0.6%[73]. - The revenue from the exhibition segment was HKD 3.83 billion, representing 7.2% of total group revenue, with a profit of HKD 32 million[145]. Investments and Expenditures - Capital expenditures related to properties, plants, and equipment amounted to HKD 13,450,000, an increase of 61.1% from HKD 8,347,000 in 2022[15]. - The group invested HKD 20 million in property, plant, and equipment, compared to HKD 14 million in 2022[26]. - The group invested HKD 34 million in intangible assets, down from HKD 74 million in 2022[26]. Corporate Governance and Financial Discipline - The company has maintained a high level of corporate governance, adhering to the Hong Kong Stock Exchange's corporate governance code[8]. - The group has implemented robust financial discipline to ensure long-term profitability, resulting in improved debt ratios due to significant reductions in long-term and short-term bank borrowings[133]. Market Outlook and Strategy - The company is optimistic about growth in the Greater China and Southeast Asia regions, with a focus on expanding operations in Saudi Arabia to capture emerging opportunities[17]. - The company anticipates a slow overall growth in the global economy for 2024, as per the International Monetary Fund's outlook[17]. - The company has a cautious yet optimistic outlook for its operations, particularly in international markets, as consumer behavior shifts post-pandemic[17]. - The group plans to leverage opportunities from Saudi Arabia's Vision 2030, with ongoing projects including NEOM and the largest light art festival, Noor Riyadh[103]. Operational Efficiency and Technology Integration - The integration of AI, data, and Web3 technologies is expected to enhance operational efficiency and broaden service offerings, aligning with evolving market expectations[3]. - The group is advancing the AI-supported PowerONE integrated IT system to enhance operational efficiency and become a fully data-driven enterprise[105]. - The group has developed a proprietary data management system to assist clients in making informed decisions and optimizing business operations[164]. Dividends and Shareholder Returns - The company declared a final dividend of HKD 0.07 per share for the year, subject to shareholder approval[65]. - The board proposed a final dividend of HKD 0.07 per share, totaling HKD 0.09 for the year, which represents 48.9% of the earnings per share of HKD 0.1841[128]. Foreign Exchange and Risk Management - The group has no hedging policy in place to mitigate foreign exchange risks[29]. Employee and Operational Metrics - Employee costs for the year amounted to approximately HKD 1.175 billion, up from HKD 987 million in 2022[30]. - The company has established 47 permanent offices across 36 cities, employing approximately 2,300 long-term staff as of October 31, 2023[102]. Project Highlights - The group is involved in significant projects including the Hong Kong History Museum and the Hong Kong Wetland Park, expected to be completed in 2024 and 2025 respectively[22]. - The group has been appointed as a designated supplier for GAC Aion's 200 stores plan in Southeast Asia for 2024[19]. - The group activated 14 brands at the Guangzhou International Auto Show and 25 brands at the Chengdu International Auto Show, highlighting significant engagement in major automotive exhibitions[138].

Financial Performance - Total revenue for the six months ended April 30, 2023, was HKD 2,493,180, an increase from HKD 2,344,692 in the same period of 2022, representing a growth of approximately 6.36%[4] - The total profit for reportable segments was HKD 167,756, compared to HKD 95,316 in the previous year, indicating a significant increase of approximately 76%[1] - The company reported a consolidated profit before tax of HKD 136,188, compared to HKD 81,539 in the previous year, an increase of approximately 67%[1] - Basic and diluted earnings per share for the six months ended April 30, 2023, were HKD 101,111,000, compared to HKD 68,905,000 for the same period in 2022, representing a growth of approximately 46.7%[21] - Core operating profit rose to HKD 174 million, a significant increase of 114.8% from HKD 81 million in the previous year[42] - Net profit for the period was HKD 102,385, compared to HKD 67,154 in 2022, marking a 52.4% increase[151] Revenue Breakdown - Revenue from the Greater China region was HKD 1,268,773, up from HKD 1,184,976, reflecting a growth of about 7.07%[4] - Revenue from Malaysia, Singapore, the Philippines, and Vietnam increased to HKD 440,039 from HKD 330,820, marking a growth of approximately 33%[4] - Revenue from exhibitions, projects, and brand activations increased by 12.3% to HKD 2.149 billion, up from HKD 1.914 billion in the previous year[46] - Revenue from visual brand activation decreased by 17.1% to HKD 160 million, down from HKD 193 million in the previous year[47] - Revenue from museums and theme entertainment decreased by 27.6% to HKD 152 million (2022: HKD 210 million)[48] - Revenue from event planning and activation increased by 14.3% to HKD 32 million (2022: HKD 28 million)[49] Expenses and Costs - Interest expenses on bank borrowings rose to HKD 17,466 from HKD 5,577, representing an increase of approximately 213%[15] - The total tax expense for the period was HKD 33,803, compared to HKD 14,385 in the previous year, indicating an increase of approximately 135%[15] - The company incurred a cost of goods sold of HKD 104,710, down from HKD 126,845, reflecting a decrease of approximately 17.4%[17] - Employee costs for the period amounted to HKD 454 million, compared to HKD 433 million for the six months ended April 30, 2022[79] Cash Flow and Assets - Cash and bank balances amounted to HKD 1.469 billion as of April 30, 2023, up from HKD 1.403 billion on October 31, 2022[75] - The net cash balance, after deducting external interest-bearing borrowings, was HKD 773 million, an increase from HKD 601 million on October 31, 2022[74] - Total borrowings decreased to HKD 696 million as of April 30, 2023, down from HKD 804 million on October 31, 2022[74] - The total net tangible assets attributable to shareholders increased by 9.0% to approximately HKD 1.76 billion as of April 30, 2023, compared to HKD 1.615 billion on October 31, 2022[74] Shareholder Information - The company declared an interim dividend of HKD 0.02 per share for the six months ended April 30, 2023, compared to no dividend in the same period last year[20] - The number of issued and fully paid shares increased from 1,238,258,104 on October 31, 2022, to 1,238,488,104 on April 30, 2023, due to the exercise of share options[29] - The major shareholders as of April 30, 2023, include Pine Asset Management Limited with 37.32% of the issued share capital and FMR LLC with 10.00%[115] Strategic Initiatives - The company is focused on leveraging differentiated data and AI strategies to enhance operational efficiency and drive business resilience[45] - The company is focusing on the electric vehicle sector and digital showrooms, securing significant projects with clients like Kia and high-end electric vehicle brand "Hao Bo"[66] - The company aims to expand its business into automation through the Fanuc project and is actively seeking opportunities in emerging industries such as agriculture and aviation[83] - The company is committed to building a data-driven enterprise model to enhance operational efficiency and profitability through the use of data and AI technologies[89] Market Position and Outlook - The company maintained a strong market position and benefited from the gradual recovery in Southeast Asia following the lifting of COVID-19 restrictions[44] - The group expects a strong recovery in project delivery in the second half of the fiscal year following the reopening of China in March[61] - The company is actively managing its operations and growth strategies to navigate potential economic pressures in China and the US[85]

Financial Performance - The company reported a profit of HKD 102,385,000 for the period, compared to HKD 67,154,000 in the previous year, representing a significant increase[1]. - Total comprehensive income for the period was HKD 221,466,000, up from HKD 36,041,000 year-over-year[2]. - The company reported segment profit of HKD 167,756,000, compared to HKD 95,316,000 in the previous year, indicating a substantial increase of approximately 76%[23]. - The profit before tax for the period was HKD 136.188 million, up from HKD 81.539 million year-on-year[26]. - Profit attributable to shareholders rose by 46.4% to HKD 101 million from HKD 69 million year-on-year[54]. - Net profit attributable to shareholders for the period was HKD 102,385, up from HKD 67,154, which is an increase of approximately 52.4%[142]. - Other comprehensive income for the period was HKD 119,081, compared to HKD 31,113 in the previous year, indicating a substantial increase of approximately 282.5%[143]. Revenue Growth - Total revenue from reportable segments reached HKD 2,619,888,000, an increase from HKD 2,443,468,000, reflecting a growth of approximately 7.2%[11]. - Total revenue for the six months ended April 30, 2023, was HKD 2.493 billion, an increase of 6.3% compared to HKD 2.345 billion in the same period last year[38]. - Revenue from exhibitions, projects, and brand activations increased by 12.3% to HKD 2.149 billion, compared to HKD 1.914 billion in the previous year[43]. - Revenue from conference planning activation increased by 14.3% to HKD 32 million, up from HKD 28 million in the previous year[78]. - Revenue for the six months ended April 30, 2023, was HKD 2,493,180, an increase from HKD 2,344,692 in the same period of 2022, representing a growth of approximately 6.4%[142]. Asset and Equity Growth - The company’s net assets amounted to HKD 2,326,660,000, compared to HKD 2,186,180,000 in the previous year, indicating a growth of about 6.4%[18]. - The company’s equity attributable to shareholders was HKD 2,251,444,000, up from HKD 2,105,432,000, reflecting an increase of approximately 6.9%[18]. - The total net asset value attributable to shareholders increased by 9.0% to approximately HKD 1.76 billion from HKD 1.62 billion[113]. Cost and Expenses - Interest expenses on bank borrowings increased to HKD 17,466,000 from HKD 5,577,000, showing a rise of approximately 213%[14]. - Employee costs for the period amounted to HKD 454,000,000, up from HKD 433,000,000 in the previous six months[117]. - The company reported a financing cost of HKD (20,580), which increased from HKD (8,681) in the previous year, reflecting a rise in financing expenses[142]. Dividends - The interim dividend declared was HKD 0.02 per share, compared to no interim dividend in the same period last year[33]. - The company proposed an interim dividend of HKD 0.02 per share, compared to no dividend in the same period last year[56]. Operational Efficiency and Strategy - The group aims to enhance operational efficiency through data-driven strategies and technology innovation[42]. - The group aims to enhance its data-driven business model, leveraging data, AI, and related technologies to improve profitability and operational efficiency[125]. - The company plans to continue expanding its market presence and investing in new product development to drive future growth[150]. Market and Project Development - The group is collaborating with K11 Group on the 11 SKIES project, which will feature over 800 stores and a total floor area of more than 353,000 square meters[70]. - The company is actively seeking opportunities in emerging industries, including projects in agriculture and aviation with Bombardier and Guangdong Haida Group[105]. - The group is involved in various museum and theme entertainment projects, including the Hong Kong Palace Museum and the Saudi National Museum[71]. - The group has delivered numerous physical projects, including the opening ceremony of the 25th Arabian Gulf Cup in Basra, Iraq[84]. - The group is set to deliver major projects across various regions, including the Asia Vaccine Conference and the FUTR Europe Summit[125]. Financial Position - The company’s total assets less current liabilities stood at HKD 2,850,113,000, compared to HKD 2,756,778,000, marking an increase of around 3.4%[3]. - The current ratio improved slightly to 1.50 times from 1.49 times year-on-year[76]. - The debt ratio decreased to 8.30% from 9.56% in the previous year[76]. - The total borrowings decreased to HKD 696 million from HKD 804 million, a reduction of 13.4%[95]. - The total liabilities secured by assets as of April 30, 2023, were HKD 111,865,000, a decrease from HKD 210,063,000 as of October 31, 2022[119]. Digital Transformation - The company continues to integrate digital interactive elements such as the metaverse and augmented reality into projects and brand activations[62]. - The VX Events platform has facilitated multiple events transitioning to virtual or hybrid formats, addressing the growing demand for digital solutions[92].

Financial Performance - Total revenue for the year reached HKD 45.41 billion, an increase of 12.1% compared to HKD 40.52 billion in the previous year[9] - Core operating profit rose to HKD 2.089 billion, reflecting a growth of 26.1% from HKD 1.657 billion in the prior year[17] - Net profit attributable to shareholders increased by 18.8% to HKD 1.626 billion, up from HKD 1.369 billion in the previous year[17] - EBITDA grew by 14.5% to HKD 2.986 billion, compared to HKD 2.608 billion in the previous year[17] - Basic earnings per share increased by 18.7% to HKD 0.1313, up from HKD 0.1106 in the previous year[17] - The company proposed a final dividend of HKD 0.060 per share, representing a 20.0% increase from HKD 0.050 per share in the previous year[17] - The return on equity for shareholders improved to 7.6%, up from 6.6% in the previous year[17] Revenue Breakdown - Total revenue from Greater China reached HKD 45.41 billion, accounting for 45.3% of the group's total revenue, down from 53.6% in the previous year[29] - Revenue from the Southeast Asia region increased to 20.9% of total revenue, up from 12.8% in the previous year[32] - The exhibition, project, and brand activation segment generated revenue of HKD 36.89 billion, representing 81.3% of total revenue, with a profit of HKD 1.819 billion[34] Operational Highlights - The company activated over 3,000 projects globally, with operations spanning 35 cities[18] - The group operates 46 permanent offices in 35 cities and employs approximately 2,200 long-term staff[22] - The group has received 45 international awards, showcasing its industry recognition and performance[18] Strategic Initiatives - The group has partnered with Founders Factory to launch a new venture incubation initiative focusing on Web3 and marketing technology startups[31] - The group has enhanced its capital structure to maintain sufficient resilience against financial challenges posed by the pandemic[31] - The group has seen a recovery in the MICE industry, particularly in Southeast Asia and the US, which has helped mitigate the negative impact from the Chinese market[24] - The group has implemented a data-driven approach using AI for decision-making and operational efficiency[27] Digital and Technological Developments - The company launched the HTML5 metaverse platform YAOLAND in collaboration with 263 Network Communications and China Unicom's subsidiary, aiming to create a complete digital consumption model[41] - Existing users of YAOLAND include major brands such as China Mobile, Honeywell, and the British National Gallery, indicating strong market interest[42] - The company partnered with State Farm to leverage gamification and social media to attract millennials and Gen Z audiences, integrating augmented reality technology[44] - The company is actively exploring the potential of NFTs and gamification to enhance user engagement and marketing effectiveness[44] - The company is focused on capturing the vast potential of the metaverse ecosystem in the Chinese market[41] Financial Reporting and Compliance - The company is committed to ensuring accurate financial reporting and compliance with accounting standards regarding lease liabilities and contract assets[48][50] - The company capitalizes contract costs related to existing or specifically identifiable anticipated contracts, which may include direct labor, materials, and other costs directly attributable to the contract[51] - Financial assets and liabilities are recognized at fair value upon becoming a party to the relevant contract, with transaction costs included in the initial measurement[53] - The company has adopted a stock option plan as a reward for directors and eligible employees, with details provided in the financial statements[89] Shareholder Information - Pine Asset Management Limited holds a significant stake of 462,167,186 shares, representing 37.32% of the total issued share capital[108] - FMR LLC controls 123,789,010 shares, accounting for 10.00% of the total issued share capital[108] - Brandes Investment Partners, L.P. has an investment of 99,023,157 shares, which is 8.00% of the total issued share capital[108] - Northern Trust Corporation holds 85,386,000 shares, representing 6.90% of the total issued share capital[108] Environmental and Regulatory Compliance - The company is committed to promoting environmentally sustainable practices and complying with applicable environmental laws[110] - The company has complied with all relevant laws and regulations affecting its business and operations during the year[109] - There were no significant violations of applicable laws and regulations during the year[109] Cash Flow and Investment Activities - Operating cash flow generated was HKD 191,585,000, a decrease of 31.9% from HKD 281,092,000 in the previous year[168] - Net cash generated from operating activities was HKD 148,220,000, down from HKD 239,500,000, reflecting a decline of 38.1%[168] - Cash used in investment activities totaled HKD 128,984,000, compared to HKD 96,211,000 in the previous year, indicating an increase of 33.9%[168] - The company incurred HKD 74,271,000 for the purchase of other intangible assets, which is a 60.3% increase from HKD 46,351,000 in the previous year[168] Audit and Internal Controls - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of October 31, 2022[124] - The group’s internal controls were evaluated to design appropriate audit procedures, although no opinion on their effectiveness was expressed[135] - The group communicated with the audit committee regarding significant audit findings and any material weaknesses identified in internal controls[155]

Financial Performance - Revenue for the six months ended April 30, 2022, increased to HKD 2,344,692 thousand, representing a 25% growth compared to HKD 1,875,768 thousand in the same period of 2021[2] - Gross profit for the same period was HKD 641,151 thousand, up from HKD 536,347 thousand, indicating a gross margin improvement[2] - Core operating profit decreased to HKD 80,731 thousand from HKD 92,087 thousand, reflecting a decline of approximately 12.5%[2] - Profit attributable to shareholders for the period was HKD 68,905 thousand, compared to HKD 57,523 thousand in 2021, marking a 19.5% increase[2] - Basic earnings per share rose to 5.56 cents from 4.65 cents, an increase of 19.6%[2] - The company reported a total comprehensive income of HKD 36,041 thousand for the period, down from HKD 136,515 thousand in the previous year[4] - The segment profit for the six months ended April 30, 2022, was HKD 95,316, compared to HKD 98,547 for the same period in 2021, indicating a slight decrease of about 2.3%[25] - The company reported a profit before tax of HKD 81,539 for the six months ended April 30, 2022, compared to HKD 51,278 in 2021, reflecting an increase of approximately 59%[25] Assets and Liabilities - Total assets decreased to HKD 3,333,906 thousand from HKD 3,595,516 thousand, a reduction of approximately 7.3%[5] - Non-current liabilities decreased to HKD 502,356 thousand from HKD 600,538 thousand, indicating a reduction of about 16.3%[8] - Total equity amounted to HKD 2,319,468,000, reflecting a decrease of 12,973,000 compared to the previous period[9] - Retained earnings stood at HKD 1,605,575,000, showing a decrease of 61,913,000 from the previous period[9] - Trade receivables amounted to approximately HKD 876,810,000 as of April 30, 2022, up from HKD 748,805,000 as of October 31, 2021[41] - Trade payables were approximately HKD 394,490,000 as of April 30, 2022, compared to HKD 335,937,000 as of October 31, 2021[42] Cash Flow - Cash and cash equivalents decreased to HKD 1,305,796 thousand from HKD 1,479,571 thousand, a decline of approximately 11.7%[5] - Net cash used in operating activities was HKD (14,305,000), compared to HKD (101,930,000) in the previous year[12] - Net cash used in investing activities was HKD (94,099,000), significantly higher than HKD (2,477,000) in the prior year[12] - Net cash used in financing activities was HKD (81,819,000), compared to HKD (29,479,000) in the previous year[12] - Cash and cash equivalents at the end of the period were HKD 1,255,955,000, an increase from HKD 1,184,559,000 year-over-year[13] - The company reported a cash and bank balance of HKD 1.31 billion as of April 30, 2022, down from HKD 1.48 billion on October 31, 2021[63] - The net cash balance after deducting external interest-bearing borrowings was HKD 581 million, a decrease from HKD 754 million year-on-year[65] Market and Growth Strategy - The company has plans for market expansion and new product development to drive future growth[2] - The company expects to hold more than double the number of exhibitions and projects in the second half of the fiscal year compared to the first half[69] - The company is exploring opportunities in the new energy vehicle sector, having secured contracts with brands such as Ford, GAC Toyota, and Mercedes-Benz[71] - The company continues to collaborate with clients to deliver projects for postponed exhibitions, indicating a strong pipeline of future work[55] - The group is leveraging opportunities arising from the growth of the digital economy and new energy vehicles in China, winning several new clients[59] Dividends and Share Options - The company declared a final dividend of HKD 0.05 per share for the year ended October 31, 2021, totaling HKD 61,913,000, compared to HKD 30,954,000 for the previous year[34] - No interim dividend was recommended for the six months ended April 30, 2022, compared to no interim dividend in the previous year[35] - The new share option plan approved on March 25, 2022, allows for the issuance of up to 123,825,810 shares, representing approximately 10% of the company's issued share capital[77] - The total expense recognized for stock options granted by the company for the six months ended April 30, 2022, is HKD 178,000, compared to HKD 459,000 for the same period in 2021[85] Operational Highlights - The number of exhibitions activated globally decreased by 18% compared to the same period last year, but Southeast Asia saw a nearly 70% growth, offsetting some negative impacts in the Chinese market[53] - The revenue from exhibitions, projects, and brand activations increased by 33.8% to HKD 1.914 billion from HKD 1.431 billion in the previous year[53] - The group recorded a decrease in visual brand activation revenue by 3.5% to HKD 193 million from HKD 200 million in the previous year[53] - The group reported a decrease in museum and theme entertainment revenue by 7.9% to HKD 210 million from HKD 228 million in the previous year[53] - The group activated multiple brands at major exhibitions, including the Thailand Huawei Cloud and Connectivity Summit and the Asia Defense Exhibition in Kuala Lumpur[54] Governance and Compliance - The company has adhered to the corporate governance code as per the listing rules, with a noted deviation regarding the separation of the roles of Chairman and CEO, which are held by the same individual[89] - The company confirms that all directors complied with the standards set forth in the code of conduct for securities trading during the period ending April 30, 2022[90] - The audit committee has reviewed the accounting principles and practices adopted by the group, discussing internal controls and financial reporting matters, including the review of the unaudited interim financial statements[91]

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]