Financial Performance - The company reported a total revenue of HKD 342,056,000 for the year ending December 31, 2025, compared to HKD 34,180,000 in 2024, indicating a significant increase[2]. - The cost of revenue was HKD 580,089,000, resulting in a gross loss of HKD 238,033,000 for 2025, compared to a gross loss of HKD 185,137,000 in 2024[2]. - The company incurred an operating loss of HKD 507,893,000 in 2025, up from an operating loss of HKD 273,939,000 in 2024, reflecting a worsening financial performance[2]. - The net loss for the year was HKD 498,349,000, compared to a net loss of HKD 260,818,000 in the previous year, representing an increase of approximately 91%[3]. - The company reported a comprehensive loss of HKD 457,856,000 for the year, compared to a comprehensive loss of HKD 299,153,000 in 2024, indicating a significant increase in losses[3]. - The company reported a loss attributable to owners of the company of HKD 498,349,000 in 2025, compared to a loss of HKD 260,818,000 in 2024, indicating a deterioration in performance[31]. - Basic loss per share was HKD (0.14) in 2025, compared to HKD (0.07) in 2024, showing a decline in earnings per share[31]. - The company reported a net cash outflow from operating activities of HKD 45,486,000 for the year ending December 31, 2025[79]. Assets and Equity - Total assets decreased to HKD 1,387,693,000 in 2025 from HKD 1,948,156,000 in 2024, indicating a decline of about 29%[4]. - The company's total equity fell to HKD 696,559,000 in 2025 from HKD 1,154,415,000 in 2024, a decrease of approximately 40%[5]. - Cash and cash equivalents decreased to HKD 88,056,000 in 2025 from HKD 144,987,000 in 2024, a decline of about 39%[4]. - The group's current assets net value as of December 31, 2025, was HKD 33,279,000, a significant decrease from HKD 473,962,000 in 2024, with cash and cash equivalents at HKD 88,056,000, down from HKD 144,987,000[53]. - The current ratio as of December 31, 2025, was approximately 1.05, compared to 1.65 in 2024, indicating a decline in liquidity[53]. - Total equity as of December 31, 2025, was HKD 696,559,000, down from HKD 1,154,415,000 in 2024, with no borrowings reported, compared to HKD 42,440,000 in borrowings in 2024[53]. Revenue Sources - The group's revenue for the year 2025 reached HKD 342,056,000, a significant increase from HKD 34,180,000 in 2024, representing a growth of approximately 900%[21]. - The group's share of box office revenue for 2025 was HKD 286,876,000, compared to HKD 63,580,000 in 2024, indicating a growth of about 351%[21]. - The group reported a net loss from film investment of HKD 4,942,000 in 2025, a recovery from a loss of HKD 50,785,000 in 2024[21]. - Government grants received amounted to HKD 9,850,000 in 2025, down from HKD 12,227,000 in 2024, reflecting a decrease of approximately 19%[23]. - The group confirmed revenue from film investment amounts of approximately HKD 56,866,000, down from HKD 112,086,000 in 2024[43]. Financial Obligations and Liabilities - The company recognized contract liabilities of HKD 76,448,000 in 2025, up from HKD 16,671,000 in 2024, indicating a significant increase in obligations[38]. - The group had contract liabilities related to film and television rights prepayments of approximately HKD 76,448,000, up from HKD 15,915,000 in 2024[39]. - As of December 31, 2025, the group had outstanding film investment amounts payable to an investor of HKD 222,216,000[42]. - Impairment losses on film and television rights increased to HKD 184,520,000 from HKD 216,000 in 2024, reflecting reduced expected revenue[51]. Cost Management - The company is implementing cost control measures, including management salary adjustments and streamlining administrative costs, to improve cash flow[10]. - The total cost of revenue, sales and distribution costs, and administrative expenses rose significantly to HKD 856,818,000 in 2025 from HKD 425,293,000 in 2024, reflecting a 101.0% increase[28]. - Employee benefits expenses (excluding director remuneration) increased to HKD 54,934,000 in 2025 from HKD 46,153,000 in 2024, representing a growth of 18.1%[28]. - Advertising and marketing expenses surged to HKD 156,627,000 in 2025, up from HKD 83,667,000 in 2024, marking an increase of 87.2%[28]. Future Outlook and Strategies - The company expects to receive HKD 84,833,000 from a new investor and an additional HKD 140,267,000 in April 2026, which may improve cash flow[8]. - The company is actively working on releasing several films, which are expected to generate revenue during the cash flow forecast period[8]. - The company aims to enhance operating cash flow and working capital by accelerating the collection of outstanding receivables and obtaining additional financing sources[10]. - The company is focused on improving cash flow by deferring discretionary capital expenditures when necessary[10]. - The outlook for 2026 suggests potential recovery in the Chinese film industry, supported by government policies aimed at promoting cinema consumption[64]. - The company aims to leverage new technologies such as AI to enhance operational efficiency and open new creative avenues in the film industry[64]. - The company will continue to deepen its core strategy of high-quality content, with upcoming films including "Alone on Stage" and "In the Name of the Father" scheduled for release in the next year[65]. - The group plans to explore and promote the application of AI technology in film production and operations to shorten production cycles and enhance cost management, thereby improving overall competitiveness[65]. Compliance and Governance - The financial statements have been prepared in accordance with Hong Kong Financial Reporting Standards and the Companies Ordinance[12]. - The company has adopted new and revised standards effective from January 1, 2025, with no significant impact expected on current or future periods[14]. - The company is committed to ensuring compliance with financial reporting standards and improving transparency in financial disclosures[12]. - The company has adopted the standard code of conduct for securities trading as per the listing rules, ensuring compliance with regulations[69]. - The company has reminded all directors of the importance of adhering to the standard code when trading the company's shares to prevent future violations[73]. - The audit committee has reviewed the accounting principles and internal controls related to the financial reporting for the year ending December 31, 2025[80]. - The independent auditor's report confirms that the consolidated financial statements fairly reflect the group's financial position as of December 31, 2025[78]. - The company has arranged training for its directors to enhance their knowledge and skills in corporate governance practices[74]. Workforce and Employment - The company employed 50 full-time employees as of December 31, 2025, down from 85 in 2024, indicating a reduction in workforce[61].

（於百慕達註冊成立之有限公司） （股份代號：1003） 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。 歡喜傳媒集團有限公司 執行董事兼行政總裁 項紹琨 香港，二零二六年三月二十七日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 項 紹 琨 先 生（行 政 總 裁）及 呼 惠 女 士；非 執 行 董 事 寧 浩 先 生 及 徐 崢 先 生；以 及 獨 立 非 執 行 董 事 黃 德 銓 先 生、李 小 龍 先 生 及 王 虹先生。 * 僅供識別 延期召開董事會會議 歡 喜 傳 媒 集 團 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）提 述 本 公 司 日 期 為 二 零 二 六 年 三 月 十 八 日 之 公 告，關 於 董 事 會 會 議（「董事會會議」）將 於 二 零 二 六 年三月三十日（星期一）舉行，藉以（其中包括）批准本公司及其附屬公司（「本集團」） 截 至 二 零 二 五 年 十 二 月 三 十 一 日 ...

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。 （於百慕達註冊成立之有限公司） （股份代號：1003） 截至二零二五年十二月三十一日止年度之 盈利警告 * 僅供識別 – 1 – 由於本公司仍正在落實本集團截至二零二五年十二月三十一日止年度之年度業 績，故 本 公 告 所 載 資 料 僅 根 據 管 理 層 參 考 其 現 有 可 得 資 料 作 出 之 初 步 評 估，而 並非根據經由本公司核數師或審核委員會審核或審閱之任何數據或資料而作出， 並可能會在進一步作出調整。 本 公 告 乃 歡 喜 傳 媒 集 團 有 限 公 司（「本公司」，連 同 其 附 屬 公 司，「本集團」）根 據 香 港聯合交易所有限公司證券上市規則（「上市規則」）第13.09條和證券及期貨條例（香 港法例第571章）第XIVA部 的 內 幕 消 息 條 文（定 義 見 上 市 規 則）而 作 出。 本 公 司 董 事（「董 事」）會（「董事會」）謹 此 通 知 本 公 司 股 ...

歡喜傳媒集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：1003） 董事會會議通告 歡 喜 傳 媒 集 團 有 限 公 司（「本公司」）董 事（「董 事」）會（「董事會」）宣 佈，本 公 司 將 於 二 零 二 六 年 三 月 三 十 日（星 期 一）舉 行 董 事 會 會 議，藉 以（其 中 包 括）批 准 本 公 司 及 其 附 屬 公 司 截 至 二 零 二 五 年 十 二 月 三 十 一 日 止 年 度 之 末 期 業 績 和 有 關 公 告，以 及 考 慮 建 議 派 付 末 期 股 息（如 有）。 承董事會命 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。 執行董事兼行政總裁 項紹琨 香港，二零二六年三月十八日 於 本 公 告 日 期，董 事 會 包 括 執 行 董 事 項 紹 琨 先 生（行 政 總 裁）及 呼 惠 女 士；非 執 行 董 事 寧 浩 先 生 及 徐 崢 先 生；以 及 獨 立 非 執 行 董 事 黃 德 銓 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年2月28日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 歡喜傳媒集團有限公司 呈交日期: 2026年3月2日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01003 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | 本月底法定/ ...

Market Overview - On the first trading day after the resumption of Northbound trading, Hong Kong's three major indices collectively declined, with the Hang Seng Index falling below the 27,000 mark, closing down 1.82% or 491.59 points at 26,590.32 points, with a total turnover of HKD 250.99 billion [1] - The Hang Seng China Enterprises Index dropped 2.06% to 9,007.86 points, while the Hang Seng Tech Index fell 2.13% to 5,270.70 points [1] Sector Performance - The technology sector remains a long-term investment focus, with valuation pressure easing after recent pullbacks, and potential for rebound driven by accelerated AI model updates and applications [1] - The energy and precious metals sectors are expected to rise amid heightened geopolitical risks in the Middle East and adjustments in U.S. tariff policies [1] - The consumer sector, currently undervalued, is anticipated to have upward potential as consumption policies are strengthened [1] Blue-Chip Stocks - WH Group (00288) led blue-chip gains, rising 4.42% to HKD 10.39, contributing 5.87 points to the Hang Seng Index [2] - Other notable blue-chip performers included Henderson Land (00012) up 2.08% and China Resources Beer (00291) up 2.02% [2] - China Biologic Products (01177) fell 6.58%, negatively impacting the index by 7.48 points [2] Hot Sectors - Major tech stocks faced pressure, with Tencent down over 3% and Alibaba down over 2% [3] - Storage concepts saw significant gains, with Zhaoyi Innovation (03986) up 11.91% and Longsys Technology (06809) up 4.92% [3] - Oil and gas stocks rose amid concerns over escalating tensions in Iran, with Shandong Molong (00568) up 11.41% [4] AI and Technology - The AI sector continues to show promise, with significant growth in token usage, particularly in Chinese models, which account for 61% of the total token volume [5] - The market anticipates ongoing rapid growth in AI applications and commercial viability [5] Film Sector - The film sector faced challenges, with the 2026 Spring Festival box office down approximately 40% year-on-year, indicating a need for improved content quality [6] - Major film stocks like Maoyan Entertainment (01896) and Huayi Brothers (01003) saw declines of 8.18% and 5.26%, respectively [6] Notable Stock Movements - Kwan Hung Holdings (01888) surged 12.37% following a profit forecast indicating a 165% increase in net profit for the fiscal year ending December 2025 [7] - Weichai Power (02338) rose 7.29% after a report highlighted its emergency generator's use in a major data center [8] - China Shipbuilding Defense (00317) reached a new high, up 5.37%, following a significant shipbuilding contract announcement [9] - Standard Chartered (02888) saw a 3.07% increase after reporting a 6% rise in operating income for the fiscal year 2025 [10] - China Duty Free Group (01880) faced a 10.51% drop due to losing some operating rights at major airports [11]

Group 1 - Hong Kong film concept stocks experienced significant declines, with Maoyan Entertainment (01896.HK) dropping by 6.86% to HKD 6.38 [1] - Huanxi Media (01003.HK) fell by 5.26% to HKD 0.27 [1] - IMAX China (01970.HK) decreased by 2.95% to HKD 8.23 [1]

Core Viewpoint - The film sector is experiencing significant declines, with major stocks like Maoyan Entertainment, Huanxi Media, and IMAX China seeing notable drops in their share prices due to disappointing box office performance during the 2026 Spring Festival period [1] Group 1: Stock Performance - Maoyan Entertainment (01896) fell by 6.86%, trading at 6.38 HKD [1] - Huanxi Media (01003) decreased by 5.26%, trading at 0.27 HKD [1] - IMAX China (01970) dropped by 2.95%, trading at 8.23 HKD [1] Group 2: Box Office Performance - The total box office for the 2026 Spring Festival reached 5.752 billion CNY, a year-on-year decline of approximately 40% [1] - The number of moviegoers decreased by 36.2% compared to 2025 [1] - The average ticket price fell by nearly 3 CNY from last year's 50.8 CNY [1] Group 3: Industry Insights - Huaxin Securities noted that apart from "Fast and Furious 3" and "Biao Ren: Wind Rises in the Desert," other films underperformed against pre-release media expectations [1] - Dongwu Securities highlighted that while there were more screenings during the 2026 Spring Festival, the box office and audience numbers were lower than previous years [1] - The cumulative box office by the fifth day of the new year was only 4.36 billion CNY, compared to an average of 6.1 billion CNY during the same period from 2021 to 2025 [1] - The decline in box office figures does not indicate weakened consumer demand but is attributed more to supply-side factors [1]

Group 1 - Hong Kong film stocks experienced significant declines, with major drops including DaMai Entertainment down 9%, Maoyan Entertainment down 7.5%, and Huanxi Media down over 5% [1] - According to a report by CICC, as of February 23, 2026, the effective box office for the first six days of the Spring Festival period was 5.077 billion RMB, a decrease of 38.7% compared to the same period in 2025 [1] - The expected box office for the period may fall below the previously anticipated range of 6.5 to 8.5 billion RMB, primarily due to a high base and a lack of leading films [1] Group 2 - The leading film during this period is "Fast and Furious 3," followed by "Silent Awakening" in second place [1] - Upcoming domestic films such as "Genius Game" and "A Fortune for a Fortune" have been scheduled, along with imported films like "Wuthering Heights" and "Rescue Plan" [1] - Other domestic films in reserve include "Wild Forbidden Land," "Mind Flower," "Catch the Spy," and "Penghu Sea Battle," while imported films include "Odyssey" and "Avengers 5" [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 歡喜傳媒集團有限公司 呈交日期: 2026年2月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01003 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | | 增加 / 減少 (-) | | | | | | | HKD | | | | 本月底結存 | | | 50,000,000,000 | HKD | | 0.01 | HKD | | 500,000,000 | 本月底法定/ ...