Financial Performance - The company reported a total revenue of RMB 64,536,000 for the fiscal year ending December 31, 2023, a decrease of 59.9% compared to RMB 161,051,000 in the previous year[22]. - Revenue from films, series, and non-drama content was RMB 35,784,000, down 73.6% from RMB 135,448,000 in the prior year[13]. - The company experienced a net loss attributable to shareholders of RMB 2,898,000, an increase of 859.6% from RMB 302,000 in the previous year[22]. - The company’s total liabilities decreased by 35.3% to RMB 61,484,000 from RMB 95,091,000[13]. - The annual loss attributable to the company's owners increased by 859.6% to RMB 2,898,000 in 2023 from RMB 302,000 in 2022, driven by increased impairment losses[56]. - The group reported a loss attributable to equity shareholders of RMB 2,898,000 for the year ended December 31, 2023, compared to a loss of RMB 16,403,000 in 2022[176]. Asset and Liability Management - The total assets of the company decreased by 7.8% to RMB 491,534,000 from RMB 533,123,000[13]. - The company’s net asset value per share slightly decreased by 0.8% to RMB 31.64 from RMB 31.90[13]. - Trade receivables decreased significantly from RMB 82,273,000 in 2022 to RMB 16,550,000 in 2023, primarily due to customer payments received during the year[59]. - The group’s total liabilities decreased from RMB 52,599,000 in 2022 to RMB 39,353,000 in 2023, reflecting effective financial risk management[60]. - The group maintained a strong financial position with cash and bank balances of RMB 306,198,000 as of December 31, 2023, down from RMB 322,828,000 in 2022[63]. Revenue Segmentation - The artist and event management segment saw an increase in revenue to RMB 28,752,000 from RMB 25,603,000, indicating a growth of 8.4%[33]. - The artist and event management segment's revenue increased by 12.3% from RMB 25,603,000 in 2022 to RMB 28,752,000 in 2023, attributed to the easing of COVID-19 restrictions[46]. - Revenue from the film, television, and non-television segment decreased by 73.6% from RMB 135,448,000 in 2022 to RMB 35,784,000 in 2023, primarily due to a reduction in the number of releases[44]. Corporate Governance - The board consists of six members, including one executive director, two non-executive directors, and three independent non-executive directors[80]. - The company has established specific committees, including the Executive Committee, Audit Committee, Remuneration Committee, and Nomination Committee, to enhance governance[104]. - The company has adopted a board diversity policy since August 2013, emphasizing the benefits of diverse perspectives in decision-making[92]. - The board is responsible for overseeing the company's business management and ensuring alignment with shareholder interests and stakeholder considerations[98]. - The company emphasizes the importance of board diversity to enhance performance quality and achieve strategic goals[142]. Strategic Initiatives - The company plans to leverage its production expertise and strategic partnerships to explore new markets, particularly in the Greater Bay Area and the global Chinese community[42]. - The company is actively collaborating with partners in mainland China to develop quality films and series, including the recently launched 25-episode series "The Enforcers"[37]. - The company aims to strengthen the synergy between its film production and artist management businesses by increasing artist participation in its projects[38]. - The company is committed to leveraging its expertise in media and entertainment to drive growth and innovation in the industry[161]. Employee and Board Composition - The group had a total of 58 employees as of December 31, 2023, down from 74 employees as of December 31, 2022[71]. - The gender ratio among employees (excluding directors) is 43% female to 15% male, with a goal to achieve a more balanced gender ratio in the future[95]. - The average age of the board members is 60 years, with 2 directors aged 51-55, 2 aged 56-60, and 2 aged 61-65[93]. - The company emphasizes competitive compensation to attract and motivate employees, regularly reviewing salary packages in line with market standards[75]. Risk Management and Compliance - The group established an effective risk management and internal control system, with no significant risks identified during the annual risk assessment[119]. - The internal control system aims to ensure operational effectiveness, reliability of financial reporting, and compliance with applicable laws and regulations[120]. - The company has engaged external independent professionals to conduct an annual review of its internal control and risk management systems, which will continue to be assessed at least once a year[124]. - The effectiveness of the risk management and internal control systems has been reviewed by the board, and it was concluded that these systems are effective and adequate, providing reasonable assurance against significant misstatements or losses[126]. Related Party Transactions - The company received approximately RMB 12,937,000 and RMB 15,000 related to artist management agreements with its connected parties in 2023[190]. - The cooperation framework agreement with Huayi Brothers Group and Huayi Brothers includes investment projects and artist hiring, effective from June 1, 2022, to May 31, 2025[191]. - The company’s independent non-executive directors confirmed that the related transactions were conducted in accordance with fair and reasonable terms[196]. - The company has established ongoing related transactions with connected parties, which have been approved by the board[190]. Shareholder Engagement - The company emphasizes the importance of maintaining effective communication with investors and shareholders, providing information through financial reports and announcements[131]. - The annual general meeting for shareholders is scheduled to be held in June 2024, with notifications to be sent to all shareholders[138]. - The company can declare dividends from profits or reserves deemed unnecessary by the board, subject to shareholder approval[145].

Financial Performance - For the year ended December 31, 2023, the company's total revenue decreased by 59.9% to RMB 64,536,000 from RMB 161,051,000 in the previous year[5]. - The revenue from the film, television, and non-drama segments dropped by 73.6% to RMB 35,784,000, while the artist and event management business saw a 12.3% increase to RMB 28,752,000[5]. - The company reported a loss attributable to shareholders of RMB 2,898,000, compared to a loss of RMB 302,000 in the previous year, representing an increase of 859.6%[5]. - The basic loss per share for the year was RMB 0.20, compared to RMB 0.02 in the previous year, indicating a 900.0% increase in losses per share[5]. - The gross profit for the year was RMB 30,285,000, down from RMB 50,313,000 in the previous year[10]. - The company experienced a pre-tax loss of RMB 7,552,000, compared to a pre-tax loss of RMB 6,640,000 in the previous year[10]. - The company reported an annual loss of RMB 7,717,000 for 2023, compared to a loss of RMB 7,525,000 in 2022, indicating a year-over-year increase in losses of approximately 2.55%[12]. - Total comprehensive income for the year amounted to RMB (7,982,000), a significant decrease from RMB 27,610,000 in the previous year, reflecting a decline of approximately 129%[12]. - The company reported a significant decrease in the fair value of equity investments from RMB 32,629,000 in 2022 to RMB 24,960,000 in 2023, reflecting a decline of about 23.7%[14]. - The company’s total comprehensive income attributable to owners was RMB (3,569,000) for the year, compared to RMB 33,268,000 in the previous year, indicating a decline of approximately 110.7%[12]. Assets and Liabilities - As of December 31, 2023, the company's cash and bank balances (net of bank borrowings) were RMB 301,641,000, down from RMB 318,361,000 in the previous year[6]. - The total assets decreased by 7.8% to RMB 491,534,000, while total liabilities decreased by 35.3% to RMB 61,484,000[7]. - The net asset value per share attributable to shareholders was RMB 31.64, a slight decrease of 0.8% from RMB 31.90 in the previous year[7]. - Non-current assets decreased from RMB 42,776,000 in 2022 to RMB 34,711,000 in 2023, representing a reduction of about 18.9%[14]. - Current assets increased significantly from RMB 42,657,000 in 2022 to RMB 85,373,000 in 2023, marking an increase of approximately 100.3%[14]. - The company's total liabilities decreased from RMB 91,134,000 in 2022 to RMB 58,474,000 in 2023, a reduction of about 35.7%[14]. - The equity attributable to the owners of the company decreased from RMB 452,793,000 in 2022 to RMB 449,214,000 in 2023, a slight decline of approximately 0.6%[16]. - Trade receivables decreased to RMB 31,410,000 in 2023 from RMB 91,589,000 in 2022, reflecting a decline of 65.7%[49]. - The company recorded a total of RMB 16,550,000 in trade receivables after accounting for impairment provisions, down from RMB 82,273,000 in 2022[48]. Revenue Streams - The artist and event management segment generated revenue of RMB 28,752 thousand in 2023, an increase of 12% from RMB 25,603 thousand in 2022[27]. - Revenue from external customers for the year ended December 31, 2023, was RMB 64,536,000, a decrease from RMB 161,051,000 in 2022, representing a decline of approximately 60%[34]. - Revenue from film, television, and non-dramatic production was RMB 24,508 thousand in 2023, down 79% from RMB 117,699 thousand in 2022[24]. - The company's revenue from the film, series, and non-dramatic productions segment was RMB 135,448,000 in 2022, with a notable decline in 2023[55]. - The company recorded other income of RMB 14,376,000 this year, compared to a loss of RMB 5,213,000 in the previous year, mainly due to reduced foreign exchange losses and increased interest income[69]. Expenses and Impairments - The company incurred impairment losses on film, television, and non-dramatic investments amounting to RMB 9,140,000 in 2023, compared to RMB 3,877,000 in 2022, which is an increase of approximately 135%[39]. - Trade receivables impairment loss recognized this year is RMB 5,518,000, up from RMB 3,974,000 last year, primarily due to decreased recoverability of long-term outstanding trade receivables[73]. - Selling and distribution expenses decreased by 73.8% from RMB 5,550,000 to RMB 1,456,000, due to reduced advertising and promotional activities[70]. - Administrative expenses decreased by 5.7% from RMB 37,325,000 to RMB 35,186,000, influenced by a one-time non-recoverable debt expense in the previous year[71]. Future Outlook and Strategy - The company plans to release a new 25-episode series titled "Law Enforcers" by the end of 2024, which has already begun filming[58]. - The company aims to leverage its production expertise and strategic partnerships to capitalize on post-pandemic market recovery opportunities[63]. - The company is actively developing new content and attracting local and international investors to boost confidence in film investments[62]. - The company plans to enhance collaboration between its film and television production and artist management businesses to maximize resource potential[62]. Compliance and Governance - The group has complied with relevant laws and regulations without any significant violations during the year[92]. - The audit committee has reviewed the annual performance announcement and confirmed compliance with applicable listing rules and legal requirements[99]. - The company has adopted the standard code for securities trading by directors, ensuring compliance throughout the year[101]. - The annual report will be sent to shareholders in due course and will be available on the company's website[102].

Revenue Performance - For the six months ended June 30, 2023, the company reported revenue of RMB 30,052,000, a decrease of 20% compared to RMB 37,558,000 for the same period in 2022 due to delays in film and television projects[32]. - Revenue from the film, television, and non-drama segment was RMB 10,787,000, down 57% from RMB 25,060,000 in the previous year[33]. - Revenue from artist and event management increased by 54.1% to RMB 19,265,000 from RMB 12,498,000 in the previous year[33]. - The company's revenue decreased from RMB 37,558,000 to RMB 30,052,000, a decline of RMB 7,506,000 or 20% due to reduced contributions from films, series, and non-series segments[40]. - Revenue from the film, series, and non-series segment dropped by 57.0% from RMB 25,060,000 to RMB 10,787,000, primarily due to a decrease in the number of releases during the review period[41]. - Revenue for the six months ended June 30, 2023, was RMB 30,052,000, a decrease of 20% compared to RMB 37,558,000 for the same period in 2022[91]. - Revenue from film, television, and non-dramatic production was RMB 8,458,000, down from RMB 11,802,000, representing a decline of 28%[105]. - Revenue from artist management services increased to RMB 17,754,000, up 53% from RMB 11,574,000 in the previous year[105]. Financial Position - Total assets amounted to RMB 530,634,000, a slight decrease of 0.5% from RMB 533,123,000[27]. - Total liabilities decreased by 13.4% to RMB 82,382,000 from RMB 95,091,000[27]. - The company's equity increased by 2.3% to RMB 448,252,000 from RMB 438,032,000[27]. - The current ratio improved to 6.3 from 5.4, indicating better short-term financial health[27]. - Trade receivables decreased significantly from RMB 82,273,000 as of December 31, 2022, to RMB 29,724,000 as of June 30, 2023, primarily due to customer payments received during the review period[54]. - Trade and other payables increased from RMB 52,599,000 as of December 31, 2022, to RMB 53,587,000 as of June 30, 2023, indicating effective financial risk management policies in place[55]. - Contract liabilities rose from RMB 5,230,000 as of December 31, 2022, to RMB 7,045,000 as of June 30, 2023, mainly due to advance payments for artist and event management[56]. - Amounts payable to related parties decreased from RMB 23,614,000 as of December 31, 2022, to RMB 8,187,000 as of June 30, 2023, due to settlements made during the review period[57]. - As of June 30, 2023, the group held bank balances and cash of RMB 315,686,000, compared to RMB 322,828,000 as of December 31, 2022, reflecting a stable financial position[58]. - The equity attributable to owners of the company increased by 2.2% to RMB 462,725,000 as of June 30, 2023, from RMB 452,793,000 as of December 31, 2022[60]. - The debt ratio, calculated as interest-bearing debt to total assets, was 0.87% as of June 30, 2023, slightly up from 0.84% as of December 31, 2022[64]. - The total number of issued shares remained at 1,419,610,000 as of June 30, 2023[61]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023[67]. - The group had no pledged assets as of June 30, 2023, consistent with the previous reporting period[59]. Loss and Profitability - The company reported a loss attributable to owners of the company of RMB 735,000, an improvement of 36% compared to a loss of RMB 1,149,000 in the previous year[27]. - The loss per share improved to RMB 0.05 from RMB 0.08, a decrease of 37.5%[27]. - The company reported a net loss of RMB 1,112,000 for the review period, an improvement from a loss of RMB 2,657,000 in the previous period, with the loss attributable to increased impairment losses on investments and trade receivables[51]. - The segment profit for artist and event management surged by 390.2%, from RMB 1,102,000 to RMB 5,402,000, with a profit margin of 28.0%[43]. - The company reported a significant impairment loss of RMB 7,861,000 on film, series, and non-series investments for the six months ended June 30, 2023[116]. - The company incurred a loss of RMB 735,000 during the period, compared to a loss of RMB 1,149,000 in the same period last year[96]. - The company’s basic and diluted loss per share improved to RMB 0.05 from RMB 0.08 in the previous year[91]. - The total comprehensive income for the period was RMB 10,220,000, compared to RMB 14,052,000 in the same period last year, reflecting a decrease of 27.3%[93]. Investment Activities - Investment in films, series, and non-series increased from RMB 42,657,000 to RMB 81,554,000, primarily due to new co-productions during the review period[52]. - Production costs for ongoing films, series, and non-series rose from RMB 14,857,000 to RMB 17,928,000, mainly due to additional costs associated with the film "Infernal Affairs" during the review period[53]. - The company reported a significant increase in film and television investments, with RMB 81,554,000 in investments as of June 30, 2023, compared to RMB 42,657,000 at the end of 2022[95]. - The company invested approximately RMB 70,000 in property, plant, and equipment during the six months ended June 30, 2023, compared to RMB 57,000 for the same period in 2022[120]. - The company invested RMB 46,100,000 in joint production of new series as of June 30, 2023, compared to no investment in the same period last year[139]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2023, was RMB (20,339,000), compared to RMB (11,053,000) for the same period in 2022[99]. - The cash and cash equivalents decreased by RMB 17,915,000, from RMB 322,828,000 at the beginning of the period to RMB 315,686,000 at the end[99]. - The company’s investment activities generated a net cash inflow of RMB 3,581,000, compared to RMB 919,000 in the previous year[99]. - The company’s financing activities resulted in a net cash outflow of RMB 1,157,000, a decrease from a net inflow of RMB 3,400,000 in the same period last year[99]. - Financing costs increased to RMB 397,000 for the six months ended June 30, 2023, compared to RMB 298,000 for the same period in 2022[113]. - The bank borrowings amounted to RMB 4,610,000 as of June 30, 2023, slightly up from RMB 4,467,000 as of December 31, 2022[136]. Shareholder Information - Shine Investment, which holds 425,000,000 shares, is owned 85% by Shine Holdings, which is fully owned by CMC Shine Acquisition, and so on, indicating a complex ownership structure[75]. - The new share option plan approved on June 2, 2022, allows for a total of 141,961,000 shares to be issued, accounting for about 10% of the total issued shares as of the report date[78]. - No share options were granted, exercised, canceled, or lapsed during the review period ending June 30, 2023[81]. - The company did not purchase, sell, or redeem any of its listed securities during the review period[82]. - The company’s revised and restated memorandum and articles of association were adopted on June 8, 2023, with details available on the company’s website[83]. - There are no known interests or short positions in the company's shares or related shares by any individuals other than directors or senior management as of June 30, 2023[76]. - Total compensation for directors and key management personnel increased to RMB 2,739,000 in the first half of 2023, up from RMB 1,940,000 in the same period of 2022[138]. Future Outlook - The company anticipates gradual recovery in the film, series, and artist management sectors as pandemic restrictions ease and economic conditions improve[39]. - The company aims to leverage its production expertise and strategic partnerships to become a leading content production company in the Asia-Pacific region[39]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the financial report[90].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 SHAW BROTHERS HOLDINGS LIMITED 邵氏兄弟控股有限公司 （於開曼群島註冊成立之有限公司） 00953 （股份代號： ） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 未 經 審 核 中 期 業 績 公 告 二零二三年中期業績摘要 (cid:129) 27 於二零二三年二月， 集反貪劇集《廉政狙擊》在香港播出。 (cid:129) 警匪動作電影《無間一戰》於二零二三年八月在中國內地的優酷上映，並 於同月在馬來西亞的戲院上映。 (cid:129) 12,498,000 藝人及活動管理業務錄得增長，收入由人民幣 元增加至人民 19,265,000 幣 元。該增幅是因新型冠狀病毒的限制及措施於二零二三年 初放寬，使本集團旗下藝人的外部商業活動數量增加，以及彼等參與多 個本地及海外電影或劇集項目。 ...

Financial Performance - Total revenue decreased by 25% from RMB 215,518,000 in 2021 to RMB 161,051,000 in 2022[9] - The segment profit for films, series, and non-series dropped by 46% to RMB 18,095,000, while artist and event management profit decreased by 12% to RMB 9,659,000[9] - The company reported a loss attributable to owners of RMB 302,000 in 2022, compared to a profit of RMB 16,403,000 in 2021[9] - Revenue from film, series, and non-series production fell by 25% from RMB 180,841,000 in 2021 to RMB 135,448,000 in 2022[32] - Revenue from artist and event management decreased by 26% from RMB 34,677,000 in 2021 to RMB 25,603,000 in 2022[33] - The group's revenue for the year ended December 31, 2022, was RMB 161,051,000, a decrease of 25% from RMB 215,518,000 in the previous year[37] - The film, television, and non-television production segment reported revenue of RMB 135,448,000, down 25% from RMB 180,841,000, with a segment profit margin decreasing from 18% to 13%[39] - The artist and event management segment's revenue decreased by 26% to RMB 25,603,000 from RMB 34,677,000, despite an increase in segment profit margin from 32% to 38%[40] - The group recorded a net loss of RMB 302,000 for the year, compared to a profit of RMB 16,403,000 in the previous year, resulting in a loss per share of RMB 0.02[47] Assets and Liabilities - Total assets decreased by 9% to RMB 533,123,000, while total liabilities dropped significantly by 45% to RMB 95,091,000[9] - The current ratio improved to 5.4 from 3.2, indicating better short-term financial health[9] - Trade receivables decreased slightly from RMB 84,833,000 as of December 31, 2021, to RMB 82,273,000 as of December 31, 2022[50] - Trade and other payables increased from approximately RMB 37,394,000 as of December 31, 2021, to RMB 52,599,000 as of December 31, 2022, primarily due to advance payments for the production of "The Battle of the Unseen" during the year[51] - Contract liabilities decreased by 94% from RMB 83,270,000 as of December 31, 2021, to RMB 5,230,000 as of December 31, 2022, mainly due to the airing of "Integrity Sniper" on Youku during the year[52] - Amounts payable to related parties decreased from RMB 37,176,000 as of December 31, 2021, to RMB 23,614,000 as of December 31, 2022, primarily due to settlement of payments for various artist activities during the year[53] - As of December 31, 2022, the group's bank balances and cash, along with short-term bank deposits, totaled approximately RMB 322,828,000, showing a stable financial position compared to RMB 312,059,000 as of December 31, 2021[54] - The equity attributable to owners of the company increased by 8% to RMB 452,793,000 as of December 31, 2022, from RMB 418,983,000 as of December 31, 2021[56] - The company's net asset value per share increased to RMB 31.90 as of December 31, 2022, from RMB 29.51 as of December 31, 2021[56] - The group had no asset pledges as of December 31, 2022, consistent with the previous year[55] - The group had bank borrowings of RMB 4,467,000 as of December 31, 2022, with a debt ratio of 1% based on interest-bearing debt to total assets[62] Strategic Focus and Future Plans - The company focused on producing series during the pandemic, including the 30-episode police action series "Flying Tiger" and the 27-episode anti-corruption series "Integrity Sniper"[18] - The group plans to increase the number of film and series productions, focusing on appealing to younger audiences and collaborating with more streaming platforms[21] - The group aims to leverage its strong resources and partnerships to tap into the vast market potential in the Greater Bay Area and the global Chinese community[22] - The upcoming police action film "Infernal War" is scheduled to premiere in May 2023 on the streaming platform Youku in mainland China[31] - The group will explore opportunities to adapt or remake old films and license third parties for production[21] - The group is preparing multiple variety shows, with plans to shoot "Finding Ghosts as Lovers" in Hong Kong from December 2022 to February 2023[31] - The group plans to increase the production of online films and series, leveraging partnerships with major streaming platforms to enhance market presence[36] - The group aims to capitalize on the recovery of the entertainment industry post-pandemic by focusing on high-quality content production and expanding into new markets[36] Governance and Board Structure - The board consists of 6 members, including 1 executive director and 5 non-executive directors, with 5 being independent non-executive directors[85] - The average age of the board members is 58 years, with a diverse background in management, finance, accounting, investment, law, and media[85][86] - The company has adopted a board diversity policy since August 2013, ensuring a balance of skills, experience, and diverse perspectives among board members[84] - The board has a structure that separates the roles of the chairman and the CEO, which is believed to enhance the balance of power and responsibilities[77] - The company provides comprehensive training for newly appointed directors to ensure they understand the business and their responsibilities under listing rules[89] - Independent non-executive directors have been appointed in accordance with listing rules, ensuring they possess appropriate professional qualifications[93] - The company has established appropriate insurance arrangements for potential legal claims against its directors and senior officers[90] - The board held four meetings during the year to review the company's annual performance and approve the budget for 2022 and 2023[96] - The executive committee conducted four meetings to discuss the group's quarterly, interim, and annual financial and operational performance[101] - The audit committee held two meetings to review the group's 2021 annual performance and the risk management and internal control systems[102] - The remuneration committee met once to review the remuneration policies for directors and senior management[104] - The nomination committee convened once to assess the board's structure and recommend the re-election of directors[108] Shareholder Engagement and Communication - The company maintains ongoing communication with shareholders, particularly through annual general meetings, to encourage participation and convey shareholder opinions to the board[127] - The upcoming annual general meeting is scheduled for June 2023, with notifications sent to all shareholders[130] - Shareholders can request a special general meeting if they hold at least 10% of the company's paid-up capital[128] - The company regularly reviews its investor communication policies to ensure timely dissemination of relevant business information[127] - The nomination process for board candidates includes a detailed review of qualifications and experience before recommendations are made to the board[133] - Confidentiality is maintained regarding candidate nominations until official communications are issued to shareholders[134] Risk Management and Compliance - The company has established an effective risk management and internal control system, with no significant risks identified during the annual risk assessment[112][120] - The internal control system aims to ensure operational effectiveness, reliability of financial reporting, and compliance with applicable laws and regulations[113] - The company emphasizes the importance of timely and accurate disclosure of inside information to prevent violations of disclosure requirements[117] - The board of directors is responsible for overseeing the effectiveness of the risk management and internal control systems, which are reviewed annually[120] - The company has not identified any significant deficiencies in internal controls following the internal review conducted this year[117][118] - The company has implemented a set of policies and procedures to enhance the handling of inside information and ensure its accuracy and completeness[117] - The company has committed to providing ongoing professional development and updates to the board regarding legal and regulatory responsibilities[123] Related Party Transactions - The company received approximately RMB 8,713,000 and RMB 4,138,000 related to the artist management agreements with Loyal Servant and Esther Communications, respectively, for the year 2022[182] - The cooperation framework agreement with Huayi Brothers Group and Huayi Culture involves investment projects and artist hiring, effective from June 1, 2022, to May 31, 2025[183] - The annual cap for transactions under the cooperation framework agreement exceeded 5% and was approved by independent shareholders on June 2, 2022[184] - For the year ended December 31, 2022, the amounts related to the investment projects and artist hiring were approximately RMB 1,687,000, zero, and RMB 2,948,000, respectively[186] - The auditors have issued an unqualified opinion on the group's continuing connected transactions as disclosed in the annual report[187] - The board believes that the interests of the company and its shareholders are adequately protected in light of potential conflicts of interest among directors[192] - The company is committed to ensuring that any transactions involving potential conflicts of interest are reviewed by independent members[197] - The group has the ability to conduct its business fairly and independently from competitive operations[197]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不 負責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告 全部或任何部份內容而產生或因倚賴該等內容而引致之任何損失承擔任何責 任。 SHAW BROTHERS HOLDINGS LIMITED 邵氏兄弟控股有限公司 （於開曼群島註冊成立之有限公司） 00953 （股份代號： ） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 年 度 全 年 業 績 公 告 二零二二年業務發展摘要 (cid:129) 因新型冠狀病毒肺炎疫情對電影製作業務造成不利影響而投放更多資 源於劇集製作。 (cid:129) 繼警匪動作劇集《飛虎》系列前兩輯取得成功後，於二零二二年二月在香 30 港播出 集的第三輯《飛虎之壯志英雄》。 (cid:129) 27 於二零二二年十二月，在中國內地首播 集反貪劇集《廉政狙擊》。 (cid:129) 警匪動作電影《無間一戰》計劃於二零二三年五月在中國內地的優酷首 映，並預計於同月於香港的戲院上映。 ...

Revenue Performance - The company's revenue decreased from RMB 41,201,000 to RMB 37,558,000, representing a decline of 9%[15] - Revenue from film, television, and non-television productions was RMB 25,060,000, down 14.4% from RMB 29,275,000 in the previous year[16] - Revenue from artist and event management increased by 5% to RMB 12,498,000, compared to RMB 11,926,000 in the previous year[18] - Revenue for the six months ended June 30, 2022, was RMB 37,558,000, a decrease of 9.9% compared to RMB 41,201,000 for the same period in 2021[66] - Total revenue for the six months ended June 30, 2022, was RMB 25,060 thousand, down from RMB 29,275 thousand in the same period of 2021, representing a decline of approximately 7.5%[93] - The revenue from film, television, and non-drama production amounted to RMB 11,552,000 for the six months ended June 30, 2022, with no prior year comparison available[134] Profitability and Loss - The total profit for the period was RMB 8,559,000, an increase of 36.8% from RMB 6,254,000 in the previous year[12] - The company reported a loss attributable to owners of the company of RMB 1,149,000, a significant improvement of 84.5% from a loss of RMB 7,412,000 in the previous year[12] - The loss attributable to the company's owners was RMB 1,149,000, an improvement from a loss of RMB 7,412,000 in the previous year[20] - The company reported a loss for the period of RMB 2,657,000, an improvement from a loss of RMB 9,161,000 in the previous year[69] - Basic and diluted loss per share was RMB 0.08, compared to RMB 0.52 for the same period last year[66] - Total comprehensive income for the period was RMB 14,052,000, compared to a comprehensive loss of RMB 13,165,000 in the previous year[69] Financial Position - The total assets amounted to RMB 580,873,000, while total liabilities were RMB 156,399,000, reflecting a decrease in liabilities by 9.2%[12] - The current ratio improved to 3.6 from 3.2, indicating better short-term financial health[12] - The company's equity attributable to owners increased to RMB 434,081,000 from RMB 418,983,000 at the end of 2021[71] - Current assets decreased to RMB 539,579,000 from RMB 541,465,000 at the end of 2021[71] - Current liabilities decreased to RMB 151,631,000 from RMB 166,921,000 at the end of 2021[71] - The company's cash and bank balances increased from RMB 312,059,000 to RMB 317,610,000[26] Investments and Projects - The company plans to continue investing in new talent and developing new projects in film and television to enhance profitability and maintain strong cash flow[19] - The company invested RMB 77,038,000 in films, series, and non-series productions as of June 30, 2022, down from RMB 84,061,000 as of December 31, 2021[114] - The company is collaborating with various online platforms to enhance its production capabilities and revenue streams[19] Shareholder Information - The company has a total of 425,000,000 shares held by major shareholders, representing approximately 29.94% of the total issued shares as of June 30, 2022[48] - Shine Investment, the beneficial owner, holds 425,000,000 shares, which is 29.94% of the total issued shares[50] - The total number of issued shares as of June 30, 2022, is 1,419,610,000[49] - The company has adopted a new share option scheme allowing the board to grant options to subscribe for up to 141,961,000 shares, equivalent to 10% of the total issued shares as of June 2, 2022[55] - The company’s major shareholders include Shine Investment, Shine Holdings, CMC Shine Acquisition, and others, all holding rights to the same 425,000,000 shares[50] Cash Flow and Expenses - The net cash used in operating activities for the six months ended June 30, 2022, was RMB (11,053) thousand, a significant decrease from RMB 42,698 thousand in the same period of 2021[79] - The company reported a total cash and cash equivalents balance of RMB 317,610 thousand as of June 30, 2022, down from RMB 327,230 thousand at the beginning of the year[79] - The financing activities net cash inflow was RMB 3,400 thousand for the six months ended June 30, 2022, compared to a net cash outflow of RMB (215) thousand in the same period of 2021[79] - The company incurred interest expenses of RMB 298 thousand for the six months ended June 30, 2022, compared to RMB 14 thousand in the same period of 2021, reflecting a substantial increase[97] - The income tax expense for the six months ended June 30, 2022, was RMB 59 thousand, a significant decrease from RMB 4,636 thousand in the same period of 2021[98] Employee and Management Costs - Total employee costs for the six months ended June 30, 2022, amounted to RMB 10,056,000, slightly up from RMB 10,008,000 in the same period of 2021[101] - Total compensation for directors and key management personnel was RMB 1,940,000 for the six months ended June 30, 2022, down from RMB 2,264,000 in the previous year, reflecting a decrease of approximately 14.3%[137] - Short-term benefits for management decreased to RMB 1,904,000 from RMB 2,226,000, indicating a decline of about 14.5%[137] Related Party Transactions - The company engaged in related party transactions with TVB Group, which included various income and expense categories[135] - The company’s related party transactions included a total of RMB (183,000) in short-term lease expenses[134] - The company reported a total of RMB 5,232,000 in receivables from related parties as of June 30, 2022, compared to RMB 920,000 as of December 31, 2021[128]

Financial Performance - The company's profit attributable to owners increased from RMB 2,263,000 to RMB 16,403,000 in the fiscal year ending December 31, 2021[8]. - Total revenue rose from RMB 114,373,000 in 2020 to RMB 215,518,000 in 2021, representing an increase of approximately 88.4%[14]. - Revenue from film, television, and non-drama production surged to RMB 180,813,000 in 2021, up from RMB 84,530,000 in 2020, marking a growth of about 113%[15]. - The artist and event management segment generated RMB 34,677,000 in 2021, compared to RMB 28,680,000 in 2020, reflecting an increase of approximately 21%[15]. - The group recorded a film investment impairment loss of RMB 20,824,000, compared to none in the previous year[22]. - The group's cash and short-term bank deposits totaled RMB 312,059,000, an increase from RMB 293,029,000 in the previous year[27]. - The group has no bank borrowings, maintaining a debt ratio of zero as of December 31, 2021[37]. - The group reported a profit attributable to equity shareholders of RMB 16,403,000 for the year, compared to RMB 2,263,000 in the previous year, reflecting a significant increase[149]. Business Operations - The company plans to continue exploring opportunities in film, television, and artist management in mainland China and Hong Kong[11]. - The new series "Flying Tiger: The Heroic Mission" premiered on Alibaba's Youku platform in December 2021, indicating successful collaboration with leading online video platforms in China[9]. - The company is in the post-production phase for the 30-episode anti-corruption series "Integrity Sniper," set to launch in the second half of 2022 on Youku[9]. - The ongoing impact of the COVID-19 pandemic has significantly affected the company's artist and event management operations, with many activities postponed or delayed[9]. - The company primarily engages in film, television series, and non-drama investments, as well as artist and event management[137]. Governance and Compliance - The company has complied with relevant laws and regulations without any significant violations during the year[39]. - The board consists of 6 directors, including 1 executive director, 2 non-executive directors, and 3 independent non-executive directors[62]. - The average age of the board members is 58 years, with a diverse background in management, finance, law, and media[62][63]. - The company has adopted an environmental policy focusing on resource efficiency, energy conservation, and waste reduction[41]. - The company has adhered to the corporate governance code and continuously reviews its governance practices[46]. - The independent non-executive directors have confirmed their independence in accordance with the listing rules[192]. Risk Management - The company has implemented a risk management system to identify, assess, and manage risks associated with its business operations[90]. - No significant risks were identified during the risk assessment conducted for the year[93]. - The internal control system aims to ensure operational effectiveness, reliability of financial reporting, and compliance with applicable laws and regulations[94]. - The board is responsible for the effectiveness of the risk management and internal control systems, which are reviewed annually[105]. - The board concluded that the risk management and internal control systems are effective and adequate, providing reasonable assurance against material misstatements or losses[105]. Shareholder Communication - The company emphasizes the importance of maintaining effective communication with investors and shareholders through financial reports and announcements[110]. - The company is committed to ongoing communication with shareholders, particularly through the annual general meeting, to encourage shareholder participation[113]. - Shareholders can request a special general meeting if they hold at least 10% of the paid-up capital with voting rights[115]. - The company will notify shareholders of any changes regarding the annual general meeting due to the evolving situation of the coronavirus pandemic[119]. Employee Relations - The company has established a competitive compensation structure to attract and motivate employees, regularly reviewing salaries against market standards[42]. - The company employed approximately 68 full-time employees as of December 31, 2021, with competitive salary levels reviewed annually based on market conditions[189]. - The company maintains a good relationship with its employees, ensuring equal opportunities and performance-based bonuses[189]. Board Activities - The board of directors held five meetings during the year, with full attendance at all meetings[71]. - The audit committee conducted two meetings, reviewing the group's 2020 annual performance and risk management systems[78]. - The executive committee held four meetings, discussing quarterly, interim, and annual financial and operational performance[77]. Shareholder Structure - The company’s major shareholder is Shine Investment Limited, which is represented by Ms. Lok Yee Ling[1]. - Mr. Li Ruigang holds 425,000,000 shares, representing approximately 29.94% of the company's total shares outstanding[176][178]. - The total number of shares outstanding as of December 31, 2021, was 1,419,610,000 shares[178]. - Shine Investment is the beneficial owner of the 425,000,000 shares, which is 29.94% of the total shares, and is owned 85% by Shine Holdings[186].

Revenue Growth - The company's revenue increased from RMB 24,096,000 to RMB 41,201,000, representing a 71% growth[9] - Revenue from films, series, and non-drama content rose from RMB 12,449,000 to RMB 26,825,000, driven by the confirmation of several film and TV projects[17] - The group reported a total comprehensive loss of RMB 13,165,000 for the six months ended June 30, 2021, compared to a loss of RMB 2,565,000 for the same period in 2020, indicating a significant increase in losses[61] - Revenue from artist management services increased to RMB 11,918,000, up 10.3% from RMB 10,804,000 in the previous year[82] Profitability and Losses - The company reported a loss attributable to owners of RMB 7,412,000, an improvement from a loss of RMB 8,749,000 in the previous year[14] - The company incurred a loss before tax of RMB 4,636,000, compared to a loss of RMB 142,000 in the same period last year[59] - The net loss for the period was RMB 9,161,000, slightly improved from a loss of RMB 10,097,000 in the previous year[59] - The company reported a loss attributable to owners of RMB 7,412,000 for the six months ended June 30, 2021, compared to a loss of RMB 8,749,000 for the same period in 2020, representing a decrease of approximately 15.3%[97] Expenses and Cost Management - Administrative expenses decreased by 11% to RMB 16,413,000 due to cost-cutting measures implemented in response to the challenging operating environment[17] - Total sales and distribution expenses were RMB 6,114,000, a decrease from RMB 16,413,000 in the previous year[59] - Total employee costs amounted to RMB 10,008,000 for the six months ended June 30, 2021, slightly down from RMB 10,159,000 in 2020, indicating a reduction of about 1.5%[96] - The company incurred a net foreign exchange loss of RMB 1,827,000 in the first half of 2021, a significant improvement compared to a gain of RMB 3,503,000 in the same period of 2020[96] Financial Position and Assets - Cash and bank balances increased from RMB 293,029,000 to RMB 327,230,000, indicating improved liquidity[20] - The company's total assets decreased to RMB 600,225,000 as of June 30, 2021, compared to RMB 581,034,000 as of December 31, 2020[63] - The company’s cash and cash equivalents decreased to RMB 327,230,000 as of June 30, 2021, from RMB 381,106,000 at the end of the previous year[72] - Trade receivables decreased from RMB 84,285,000 to RMB 70,901,000, attributed to collections from film distributors[18] Investments and Projects - The company plans to continue identifying new talent and developing new projects in film and series production to enhance profitability and maintain strong cash flow[13] - Investments in films, series, and non-series decreased from RMB 95,456,000 to RMB 73,283,000 due to the cancellation of several investments[18] - Production in progress for films, series, and non-series increased from RMB 89,977,000 to RMB 110,474,000 due to ongoing projects[18] - The company has committed to further invest RMB 1,600,000 in its joint venture Guangdong Haimei Interactive Cultural Media Co., Ltd[100] Shareholder and Equity Information - Total equity attributable to owners decreased by 2.82% to RMB 401,938,000, with net asset value per share at RMB 0.2831[22] - Major shareholders, including Brilliant Spark and Gold Pioneer, each hold 29.94% of the company's shares, totaling 425,000,000 shares[41] - The company’s total equity attributable to owners decreased to RMB 401,938,000 as of June 30, 2021, from RMB 413,591,000 at the end of the previous year[63] Tax and Compliance - Income tax expenses increased from RMB 142,000 to RMB 4,636,000 due to tax impacts from the repayment of payables by a subsidiary in China[18] - The income tax expense for the six months ended June 30, 2021, was RMB 4,636,000, significantly higher than RMB 142,000 for the same period in 2020[91] - The group has adopted new and revised Hong Kong Financial Reporting Standards effective from January 1, 2021, which did not have a significant impact on the financial performance and position[76] Employee and Workforce Changes - The number of employees decreased from 68 to 64, indicating a reduction in workforce[28] - Total remuneration for directors and key management personnel decreased from RMB 2,447,000 to RMB 2,264,000, a decline of about 7.5%[126]

Financial Performance - The company's profit attributable to owners decreased from RMB 17,891,000 in 2019 to RMB 2,263,000 in 2020, a decline of approximately 87% due to reduced revenue impacted by COVID-19[24]. - Total revenue fell from RMB 302,227,000 in 2019 to RMB 114,373,000 in 2020, representing a decrease of 62%[32]. - Revenue from film, series, and non-series production dropped from RMB 262,851,000 in 2019 to RMB 84,530,000 in 2020, a decline of 68%[32]. - The artist and event management segment's revenue decreased from RMB 34,717,000 in 2019 to RMB 28,680,000 in 2020, a reduction of 17%[32]. - Profit attributable to owners dropped by 87% to RMB 2,263,000 in 2020, compared to RMB 17,000,000 in 2019[38]. - The company's revenue decreased by 62% from RMB 302,227,000 in 2019 to RMB 114,373,000 in 2020[38]. - Revenue from films, series, and non-series was RMB 84,530,000 in 2020, down from RMB 262,851,000 in 2019, reflecting a significant decline in film release income[39]. - The number of managed artists decreased revenue from RMB 34,717,000 in 2019 to RMB 28,680,000 in 2020, a reduction of approximately 17%[35]. Operational Changes - The artist and event management division faced significant disruptions due to COVID-19, leading to a suspension or postponement of many activities[25]. - The anticipated film "夺冠" generated over RMB 800 million in box office revenue during the National Day holiday in 2020[25]. - The company continues to focus on producing high-quality films and television content, with projects like "飞虎之壮志英雄" in post-production[28]. - The management team aims to identify business opportunities in film, series, and artist management sectors in Hong Kong and mainland China[28]. - The company plans to enhance its competitive advantage by coordinating across business segments and collaborating with external partners[28]. Financial Management - Sales costs decreased by 62% to RMB 72,259,000 in 2020, down from RMB 189,064,000 in 2019[40]. - Other income increased to RMB 12,349,000 in 2020 from RMB 3,198,000 in 2019, mainly due to bank interest income and one-time subsidies[40]. - The company repaid all bank borrowings, which were RMB 13,424,000 as of December 31, 2019[45]. - Cash and short-term bank deposits totaled RMB 293,029,000 as of December 31, 2020, down from RMB 328,836,000 in 2019[46]. - The company's equity attributable to owners decreased by 5.2% to RMB 413,591,000 as of December 31, 2020[48]. - The board did not recommend the distribution of a final dividend for the year[51]. - The group has repaid all bank borrowings during the year, resulting in a debt ratio of 0% as of December 31, 2020, compared to 2.25% on December 31, 2019[55]. Governance and Compliance - The board consists of six members, including one executive director, two non-executive directors, and three independent non-executive directors[65]. - The company has adopted a board diversity policy to ensure a balanced skill set and diverse perspectives among board members[77]. - All directors received comprehensive training upon their appointment to understand the company's operations and their responsibilities under listing rules[79]. - The company has arranged appropriate insurance for potential legal claims against its directors and senior officers[80]. - The board held five meetings during the year, approving the full-year results for 2019 and the interim results for 2020[86]. - The audit committee conducted two meetings, reviewing the group's full-year results for 2019 and the risk management and internal control systems[95]. - The remuneration committee held one meeting to review the remuneration policies for directors and senior management[98]. - The executive committee held five meetings, discussing the group's quarterly, interim, and annual financial and operational performance[94]. - Independent non-executive directors constitute a majority on the board, ensuring compliance with listing rules[85]. - The board is responsible for overseeing the company's business management and ensuring alignment with shareholder interests[83]. - The company has adopted internal guidelines requiring board approval for major operational projects and investments[83]. - The audit committee confirmed that the annual results announcement and report comply with applicable standards and regulations[95]. - The company has established specific committees, including the executive, audit, remuneration, and nomination committees, to enhance governance[91]. - The board's governance policies and practices are reviewed regularly to ensure compliance with corporate governance codes[84]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report covers the period from January 1, 2020, to December 31, 2020, detailing the company's efforts in sustainable development and corporate citizenship[146]. - The report focuses on key performance indicators related to environmental and social aspects of film, television, and artist management operations, particularly from the main office in Tseung Kwan O and its subsidiary in Kwun Tong[147]. - The company has identified seven key ESG-related issues for discussion in the report, based on stakeholder feedback and third-party assessments[158]. - The company has not reported any air or water pollutants due to the absence of vehicles or fixed emission sources, with greenhouse gas emissions primarily arising from daily operational activities[162]. - The board has delegated the audit committee to oversee ESG-related matters and ensure compliance with legal and regulatory requirements[152]. - A third-party professional consulting firm was engaged to assist in managing ESG matters, including data collection and analysis, and to provide recommendations on ESG performance[152]. - Stakeholder engagement is deemed crucial for long-term development, with diverse communication methods employed to gather feedback and improve sustainability strategies[153]. - The company emphasizes the importance of compliance operations, enhancing corporate value, and maintaining transparency in communications with stakeholders[154]. - The report adheres to the ESG reporting guidelines set forth by the Hong Kong Stock Exchange, ensuring consistency in reporting methods across different years[148]. - The company aims to strengthen internal management and increase stakeholder participation in future ESG initiatives[158]. Employee and Community Engagement - The company emphasizes the importance of employee rights and adheres to all labor laws in Hong Kong, ensuring fair treatment in recruitment[178]. - The employee distribution shows that 66% are aged between 30-50 years, while 5% are under 30 years old[180]. - The company emphasizes competitive compensation and benefits to enhance employee satisfaction and morale, ensuring compliance with minimum wage regulations and providing additional welfare beyond legal requirements[183]. - The company has not reported any work-related fatalities in the past three years, with zero workdays lost due to injuries this year, highlighting its commitment to employee health and safety[185]. - The company actively encourages employee participation in community service and charitable activities, including fundraising for youth development programs and providing masks during the pandemic[190]. - The company has implemented measures to reduce emissions and manage waste, with specific strategies outlined in their environmental report[193]. - The company has not received any complaints regarding service quality this year, indicating effective management and customer satisfaction[187]. - The company prioritizes internal promotions before external hiring to ensure employee development and career progression[184]. - The company provides comprehensive medical insurance for employees, ensuring additional protection in case of illness or injury[185]. - The company has established internal communication platforms to enhance interaction between employees and management, fostering a harmonious work environment[183]. Risk Management - The company has implemented a risk management system to identify, assess, and manage risks associated with its business operations[106]. - No significant risks were identified in the risk assessment conducted for the year[109]. - The internal control system aims to ensure operational effectiveness, reliability of financial reporting, and compliance with applicable laws[111]. Customer and Product Responsibility - The report discusses product responsibility, including the percentage of products recalled for safety and health reasons, and the number of complaints received regarding products and services[199]. - The company is committed to protecting customer data and privacy, implementing encryption and legal measures to prevent data breaches[188].