Revenue and Financial Performance - The Group's revenue decreased due to the delay in releasing several major films, with only one film produced by the Group launched during the year[17]. - For the year ended December 31, 2022, the Group recorded revenue of HK$13,630,000, a significant decrease from HK$158,353,000 in 2021, and a net loss of HK$221,812,000, compared to a net loss of HK$235,557,000 in 2021[111]. - The decrease in revenue was primarily due to the postponement of screenings for several blockbuster films, as cinema operational rates in China were adversely affected by the pandemic[111]. - The Group implemented stringent cost control measures, resulting in reduced administrative expenses and a recognized income tax credit, contributing to a decrease in net loss[111]. - No final dividend is recommended for the year ended December 31, 2022, consistent with the previous year where no dividend was paid[175]. Film Production and Releases - The film "Full River Red," invested and controlled by the Group, is scheduled for release during the Spring Festival of 2023, with related income and costs to be accounted for in the interim results for the six months ending June 30, 2023[17]. - The Group has completed post-production for several blockbusters set to debut in 2023, including titles featuring well-known directors and actors, which are expected to attract audiences[20]. - The Group plans to release several blockbuster films in 2023, including "Papa" (學爸), "Something About Us" (紅毯先生), and "Li Na" (獨自•上場), aiming to achieve commendable revenues[32]. - The film "Full River Red" (滿江紅), produced by the Group, topped the box office chart during the Chinese New Year holiday of 2023 and is expected to significantly contribute to the Group's revenue and performance in 2023[31]. - The Group's strategy focuses on producing premium and diverse films and TV productions, collaborating with outstanding directors and professional creative teams[32]. Online Streaming and Content Development - The Group continues to source quality films and TV productions globally for release on its platform "huanxi.com," enhancing its content offerings[23]. - The Group aims to enhance its online video platform "huanxi.com" by including more quality films and TV productions, while also premiering "Full River Red" on the platform soon[37]. - The online video platform "huanxi.com" continued to develop, introducing more films and internet dramas to optimize content and attract more user groups[117]. - The Group is expanding its user base through collaborations with major channels to enhance the coverage of its platform "Huanxi Premier"[121]. - The Group's proactive approach in preparing for the next boom in the film industry is expected to yield high-quality films that will be well received when the market recovers[118]. Risk Management and Corporate Governance - The Company has established risk management and internal control systems to address significant business, operational, financial, compliance, and other risks[70]. - High-priority risks identified include strategic risks in the entertainment industry, operational risks related to media project quality, and compliance risks with various regulations[78]. - The Board, with the assistance of a Consultant, reviewed the effectiveness of the Group's risk management and internal control systems for 2022 and deemed them effective[77]. - The audit committee reviewed the company's corporate governance policies and compliance with legal and regulatory requirements, ensuring adherence to the Corporate Governance Code[127]. - The Company has adopted a whistle-blowing policy to allow employees to report irregularities[79]. Director and Management Information - The Company has independent non-executive directors with significant experience in finance and media, enhancing its governance structure[160][164]. - The Company is focused on developing new strategies for market expansion and enhancing its online video platform capabilities[172]. - The Company continues to strengthen its board with experienced professionals to navigate the evolving media landscape[171]. - All existing Directors received training on regulatory development and other relevant topics during the year ended 31 December 2022[1]. - The Company is committed to providing continuous professional development training for all Directors[87]. Market Trends and Industry Challenges - The pandemic has provided opportunities for the streaming media industry to thrive, with online viewing becoming a significant leisure activity for the public[24]. - The pandemic has significantly impacted the film industry, with a notable drop in the number of films produced and box office receipts in China[119]. - The film industry faced significant challenges due to the pandemic, with a notable decrease in domestic film releases and box office revenue hitting a near-record low[122]. - The company is committed to monitoring the ongoing impact of the pandemic on the media market and taking proactive measures to mitigate its effects on operations and financial performance[123]. - The Chinese government's policies to boost consumption, including tax concessions and lifting restrictions, are expected to foster recovery in the cultural industry, which is a key project for economic recovery[29].

二零二二年 二零二一年 附 註 港幣千元 港幣千元 綜合損益及其他全面收益表 截至二零二二年十二月三十一日止年度 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。 截至二零二二年十二月三十一日止年度之 末期業績公告 | --- | --- | --- | --- | |---------------------------------------------------------|--------|--------------------|-------------------| | | | | | | 收 益 及 電 影 投 資（虧 損）╱收 入，淨 額 收益之成本 | 4 10 | 13,630 (106,251) | 158,353 (219,444) | | | | | | | 毛 損 | | (92,621) | (61,091) | | 其他收入 | 6 | 2,527 | 2,314 | | 其他收益，淨額 | 7 | 6,264 | ...

歡 喜 傳 媒 集 團 有 限 公 司 * HUANXI MEDIA GROUP LIMITED (於百慕達註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code : 1003 2055 Interim Report 中期報告 * For Identification purposes only 僅供識別 CORPORATE INFORMATION 公司資料 | --- | --- | |-----------------------------------------------------------------------------------------------|----------------------------------------------------------| | | | | BOARD OF DIRECTORS | 董事會 | | Executive Directors | 執行董事 | | Mr. Dong Ping (Chairman) | 董平先生 （主席） | | Mr. ...

ANNUAL REPOR 歡 喜 傳 媒 集 團 有 限 公 司 * HUANXI MEDIA GROUP LIMITED (於百慕鑑註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code：1003 * For identification purposes only 僅供識別 CONTENTS 目錄 2 4 19 26 32 60 74 106 120 122 124 125 126 244 公司資料 Corporate Information | --- | --- | |---------------------------------------------------------------------------|--------------------------| | | | | | | | Chairman's Statement | 主席報告書 | | Management Discussion and Analysis | 管理層討論與分析 | | Biographical Details o ...

2021 INTERIM REPORT 中期報告 歡 喜 傳 媒 集 團 有 限 公 司 * HUANXI MEDIA GROUP LIMITED (於百慕達註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code : 1003 * For identification purposes only 僅供識別 CORPORATE INFORMATION 公司資料 | --- | --- | |-----------------------------------------------------------------------------------------------|----------------------------------------------------------| | | | | BOARD OF DIRECTORS | 董事會 | | Executive Directors | 執行董事 | | Mr. Dong Ping (Chairman) | 董平先生 （主席） | | Mr. ...

Box Office Performance - In 2020, total box office receipts in China amounted to RMB 20,417 million, with domestic films contributing RMB 17,093 million, accounting for 83.72% of the total[8]. - The top 10 highest-grossing films in 2020 were all domestically produced, reflecting the audience's recognition of quality domestic films[8]. - The film "Leap" generated box office receipts exceeding RMB 100 million within just two days of release, ultimately totaling RMB 830 million[12]. - "My People, My Homeland" also performed exceptionally well, ranking among the top 10 highest-grossing films in China for 2020 and one of the top three globally[12]. - "Warm Hug" achieved nearly RMB 200 million in box office receipts on its first day, with total receipts reaching RMB 860 million[12]. - The Group's productions, including "Leap," "My People, My Homeland," and "Warm Hug," achieved robust box office receipts, demonstrating the competitiveness of premium films[42]. - The film "囧媽" was released on an online platform in collaboration with ByteDance due to the pandemic, generating considerable revenue for the Group[49]. - The film "Crazy Alien" generated revenue of RMB700 million, which had a guaranteed minimum distribution amount of RMB2.8 billion[28]. Online Video Platform Growth - The number of downloads and fee-paying subscribers for the online video platform "huanxi.com" has shown strong growth momentum, driven by the "Stay-at-Home Economy" during the pandemic[6]. - The Group's online video platform has promising long-term growth potential due to the increased demand for digital content during the pandemic[6]. - The number of online video users in China surged to 927 million by December 2020, a 76.33 million increase from March 2020, representing 93.7% of the total netizen population[14]. - The Group's online video platform "huanxi.com" has over 8 million fee-paying subscribers and the app has been downloaded over 33 million times[52]. - The Group's strategic focus on quality content production and digital platform expansion positions it well for future growth in the evolving media landscape[6]. - The Group's strategic cooperation with online video platforms and TV terminals facilitated the development of the "huanxi.com" business[42]. - The Group's philosophy of "Importance of Contents" guided its efforts to produce premium film and TV productions during the challenging market environment[42]. Impact of the Pandemic - The Chinese film industry faced significant challenges due to the pandemic, with cinemas closed from early 2020 until July 20, leading to a difficult period of over six months[8]. - The pandemic caused delays in film releases, impacting box office receipts due to prevention and control measures[43]. - The Chinese film market is recovering from the pandemic, supported by government policies and subsidies for affected companies[20]. - The Group will continue to monitor the pandemic's impact on the media market and take proactive measures to minimize its effects on business operations and financial results[56]. - The financial performance of the Group for the year ending December 31, 2021, may be affected by the ongoing pandemic, although the financial impact cannot be reasonably estimated at this stage[107]. Strategic Partnerships and Investments - The Group secured a strategic investment of HK$ 513 million from Bilibili Inc., along with a cooperation agreement to enhance content distribution[15]. - The collaboration with Bilibili will allow for exclusive broadcasting of the Group's film and TV content, increasing audience reach and revenue potential[15]. - The Group's online video platform "huanxi.com" expanded its coverage through strategic partnerships with major platforms and devices, including Huawei and Xiaomi[16]. - The Group has established partnerships with major platforms including Huawei Video, Xiaomi TV, and LeTV Super TV, covering approximately 18 million (18,000,000) active terminals and 55 million (55,000,000) users[20]. - The Group entered into a subscription agreement with Bilibili on 30 August 2020, issuing 346,626,954 ordinary shares at a subscription price of HK$1.480 per share, raising approximately HK$1.476 per share net[57]. Financial Performance - For the year ended December 31, 2020, revenue from the film and TV programmes rights business amounted to HK$633,176,000, a decrease from HK$814,425,000 in 2019[43]. - The Group recorded a loss of HK$144,636,000 in the film and TV programmes rights business for 2020, compared to a profit of HK$279,417,000 in 2019[43]. - For the year ended 31 December 2020, the Group recorded revenue of HK$633,176,000, a decrease of 22.2% from HK$814,425,000 in 2019, and a net loss of HK$236,391,000 compared to a net profit of HK$105,103,000 in 2019[56]. - The loss per share for the year was HK$0.07, a decline from earnings per share of HK$0.03 in 2019, while the net asset value per share attributable to owners increased to HK$0.42 from HK$0.36[57]. - The Group's gearing ratio improved to 0.03 as of 31 December 2020, down from 0.04 in 2019, indicating a stronger capital structure[57]. Leadership and Management - The Company has a strong leadership team with extensive backgrounds in law, media, and film production, positioning it well for future growth[68][70]. - The Board consists of eight members, including two executive Directors, three non-executive Directors, and three independent non-executive Directors[161]. - The Group maintains a clear operational and financial independence from Mr. Ning's and Mr. Xu's Companies, ensuring no conflicts of interest[161]. - The participation of Mr. Ning and Mr. Xu is viewed as instrumental for the Company's development in the media and entertainment industry[147]. Shareholder Interests - As of December 31, 2020, substantial shareholders holding 5% or more of the company's issued share capital include Dong Ping with 1,468,734,354 shares, representing approximately 42.37%[172]. - The company is actively monitoring the interests of substantial shareholders and their implications for corporate governance[172]. - The company is committed to transparency regarding shareholder interests as mandated by the Securities and Futures Ordinance[172]. VIE Group and Compliance - The VIE Group, which includes Beijing Huanxi Shou Ying Culture Company Limited and its subsidiaries, is involved in film and TV production and internet audio-visual services in the PRC[180]. - The company has established contractual arrangements to gain financial and operational control over the VIE Group, ensuring compliance with PRC laws[181]. - The financial results of the VIE Group are consolidated into the company's financial statements as indirect subsidiaries under HKFRS 10[182]. - The VIE Group holds necessary permits for audio-visual program publication and telecommunications services[184].

Financial Performance - For the six months ended June 30, 2020, the Group recorded revenue of HK$492,065,000, a decrease from HK$1,068,980,000 for the same period in 2019, representing a decline of approximately 54%[10]. - The net profit for the same period was HK$20,331,000, down from HK$321,532,000 in 2019, indicating a decrease of about 94%[12]. - The Group's earnings per share decreased to HK$0.01 from HK$0.11 in the previous year[13]. - Gross profit for the same period was HK$127,185,000, compared to HK$464,456,000 in 2019, indicating a decrease of about 73%[93]. - Operating profit for the six months ended June 30, 2020, was HK$38,619,000, down from HK$410,551,000 in 2019, representing a decline of approximately 91%[93]. - The total comprehensive loss for the period was HK$3,873,000, compared to a total comprehensive income of HK$308,268,000 in 2019[93]. - The company reported a net cash outflow from operating activities of HK$121,814,000 for the six months ended June 30, 2020, compared to a net cash inflow of HK$81,087,000 for the same period in 2019[99]. - The company incurred a total comprehensive loss of HK$3,873,000 for the six months ended June 30, 2020, compared to a profit of HK$308,268,000 for the same period in 2019[96]. Business Operations and Strategy - The Group's strategy to invest in quality film and TV content has proven effective, as evidenced by the successful release of the movie "Lost in Russia" on streaming platforms, which generated significant revenue[6]. - The Group expects improved results as more movies are released in cinemas following the pandemic[6]. - The Group plans to release several highly anticipated films, including "Leap" and "Li Na," which are expected to drive significant revenue growth[42]. - The Group is developing "huanxi.com" into a paid viewing platform, aiming to optimize content and accelerate user base growth[45]. - The Group is committed to investing in and producing more quality original films and TV series to strengthen its presence in the film and TV industry of China[47]. - The anticipated release of blockbusters is expected to become a growth driver for the Group's business[44]. - The Group's strategy includes co-investing in films and TV projects to further its business development[46]. - The company is actively pursuing new strategies to mitigate the financial impact of the pandemic on its operations[196]. Shareholder Information - As of June 30, 2020, the total number of ordinary shares held by Mr. Dong Ping, Mr. Ning Hao, and Mr. Xu Zheng is 1,463,774,354, representing 46.40% of the issued shares[61]. - The shareholding structure indicates a significant concentration of ownership with Mr. Dong and his associated entities[67]. - The company has not been notified of any substantial shareholders with interests of 5% or more in the company's issued share capital, aside from those disclosed[68]. - The shareholders' agreement among key stakeholders outlines governance rights and obligations following share subscriptions[67]. Financial Position - As of June 30, 2020, the group had net current assets of HK$482,776,000, a decrease from HK$512,922,000 as of December 31, 2019[17]. - The total equity of the company was HK$1,127,516,000, slightly down from HK$1,130,230,000 at the end of 2019[17]. - Total assets decreased from HK$1,855,506,000 as of December 31, 2019, to HK$1,525,498,000 as of June 30, 2020, representing a decline of approximately 17.8%[95]. - Total liabilities decreased to HK$397,982,000 from HK$725,276,000, showing a reduction in financial obligations[135]. - The company reported cash flows from investing activities of HK$569,000 for the six months ended June 30, 2020, compared to HK$842,000 for the same period in 2019[99]. Market and Industry Outlook - The film industry is expected to gradually recover as the pandemic situation improves, with cinemas reopening and audience attendance increasing[40]. - The cinemas in the PRC resumed operations starting mid-July 2020, indicating a gradual recovery of the film market[189]. - The company will continue to assess the impact of COVID-19 on its business operations and financial results[190]. Corporate Governance - The company has complied with the Corporate Governance Code and the relevant provisions throughout the review period ending June 30, 2020[50][54]. - All directors confirmed full compliance with the Model Code for Securities Transactions during the review period[51][55]. - There have been no changes in directors' information since January 1, 2020, as required by the Listing Rules[53][57]. Share Option Scheme - The share option scheme approved on June 17, 2014, is valid for 10 years and aims to incentivize eligible participants contributing to the group[199]. - The total expenses from share-based payment transactions for the first half of 2020 were significantly lower compared to the same period in 2019[197]. - The share option scheme includes directors, employees, and other contributors as eligible participants, promoting broader engagement within the company[200].

HUANXI.COM | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|----------------------|-------| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | D | | 9 | | | | | | ANNUAL REPORT 年 報 | | 歡 喜 傳 媒 集 團 有 限 公 司 HUANXI MEDIA GROUP LIMITED (於百慕達註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code：1003 半 * For identification purposes only 僅供識別 CONTENTS 目 錄 | --- | --- | |------------------------------------------------|------------ ...

欢喜首映 KIF ЯЦЗЗЫ 歡 喜 傳 媒 集 團 有 限 公 司 HUANXI MEDIA GROUP LIMITED (於百覇邊註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code : 1003 *For identification purposes only 僅供識別 報 告 中 湖 INTERIM REPORT | --- | --- | |------------------------------------------------------|-------------------------| | | | | CORPORATE INFORMATION 公司資料 | | | BOARD OF DIRECTORS | 董事會 | | Executive Directors | 執行董事 | | Mr. Dong Ping (Chairman) | 董平先生 （主席） | | Mr. Xiang Shaokun, Steven (Chief Executive Officer) | 項紹琨先生 （ ...

欢喜首映 歡 喜 傳 媒 集 團 有限 公 司 Huanxi Media Group Limited (於百裏速註冊成立之有限公司) (Incorporated in Bermuda with limited liability) 股份代號 Stock Code : 1003 *For identification purposes only 僅供識別 三季度 018 nual Rep | --- | --- | |------------------------------------------------|--------------------------| | | | | 目錄 | | | CONTENTS | | | Corporate Information | 公司資料 | | Chairman's Statement | 主席報告書 | | Management Discussion and Analysis | 管理層討論與分析 | | Biographical Details of Directors | 董事履歷 | | Directors' Report | 董事報告 | | Cor ...