Economic Environment - The global economic landscape in 2024 was complex, with significant pressure from geopolitical conflicts, trade tensions, and high global interest rates impacting local economic activity and market confidence[13]. - The high-interest rate environment and global economic uncertainties posed challenges to the local economy, impacting market activities[89]. - The government introduced various support measures to stimulate local economic activities and consumption, contributing to the recovery of the tourism sector[89]. Advertising Sector - The advertising sector remained cautious, leading to a reduction in advertising spending across various industries, which affected the Group's advertising operations[13]. - Total advertising expenditure in Hong Kong for 2024 was HK$29.8 billion, reflecting a year-on-year decrease of 1.3%[90]. - Digital media accounted for 56.2% of Hong Kong's overall advertising spending in 2024, maintaining a dominant market position[95]. - Sing Tao Daily's advertising revenue slightly outperformed the market despite a 3.9% YoY decrease in total advertising spending on paid newspapers for 2024[109]. - Headline Daily maintained stable advertising revenue despite a significant decline of 20.8% YoY in total advertising spending for free newspapers in 2024[114]. - The Standard significantly outperformed the broader free newspaper advertising market, despite an overall decline in advertising revenue in 2024[115]. - In 2024, the advertising spending in the Hong Kong magazine market declined by 12.1%, while East Week recorded a 9.2% increase in advertising revenue, maintaining its leading market share[120][122]. Digital Transformation and Innovation - The Group accelerated the integration of print and digital media, expanding digital platforms and leveraging innovative technologies like artificial intelligence to enhance operational performance[14]. - The Group plans to expedite its digital transformation, particularly focusing on The Standard media platform and its overseas business, to unlock new revenue streams[17]. - The application of cutting-edge technologies, such as artificial intelligence, is being embraced to optimize content production and user interaction[128][131]. - Sing Tao aims to enhance its influence and market competitiveness through increased investment in technological and content innovation[128][131]. Financial Performance - The consolidated revenue for the financial year ended December 31, 2024, was approximately HK$777.2 million, a decrease of 5.2% from HK$819.9 million in the previous year[70][75]. - Loss attributable to owners of the Company amounted to approximately HK$84.3 million, compared to a loss of approximately HK$49.1 million last year, indicating a significant increase in losses[70][75]. - The Group maintained a cash balance of approximately HK$520.7 million as of December 31, 2024, slightly down from HK$524.3 million on December 31, 2023[72][78]. - The gearing ratio was 0.7% as of December 31, 2024, a slight decrease from 0.8% as of December 31, 2023, indicating a stable capital structure[73]. - The Group did not recommend the payment of a final dividend for the year, and no interim dividend was declared[71][77]. - The Group's treasury investments were conducted cautiously due to continued volatility and unclear trends during the year[71][76]. - The Group recorded consolidated revenue of approximately HK$777.2 million in 2024, a decrease of HK$42.7 million compared to approximately HK$819.9 million in 2023[93]. - The consolidated loss attributable to owners of the Company was approximately HK$84.3 million in 2024, representing an increase of HK$35.2 million from approximately HK$49.1 million in 2023[93]. Events and Community Engagement - Major events hosted included the 30th Anniversary Celebration of the "Leader of the Year" and the "ESG Certification Awards and Sustainable Development Forum 2024", which generated considerable market interest[14]. - The Group successfully organized "The 1st Hong Kong Higher Education Expo," showcasing 12 Hong Kong universities in Shenzhen for the first time[37]. - The Group co-organized "The 2nd Shenzhen-Hong Kong-Macao Youth Creative Design Competition," fostering emerging talents in the Greater Bay Area[37]. - JobMarket successfully organized "The Employer of Choice Award 2023" and the "Graduate Recruitment Awards 2024" presentation ceremonies[49]. - The Group held a series of mega events, including the "ESG Certification Awards and Sustainable Development Forum 2024"[25]. - The inaugural "ArtCan Culture Forum and Awards Ceremony" was successfully held in early 2025, promoting arts and culture[27]. Corporate Governance and Management - The Company has complied with the Corporate Governance Code throughout the review period, with specified deviations explained[173]. - The Company has adopted the Model Code for Securities Transactions by Directors, confirming compliance by all directors during the year[174]. - The Company emphasizes good corporate governance practices as effective risk management, benefiting shareholders[172]. - The Board consists of seven directors, including four executive directors and three independent non-executive directors as of December 31, 2024[175]. - The Company has established a clear structure for the management and effective performance of the Board, delegating day-to-day operations to the management team[183]. - The Remuneration Committee approved discretionary bonuses for Executive Directors (EDs) and senior management based on their performances[198]. - The Company adopted a remuneration policy to align with its strategies and long-term vision, providing adequate incentives for Directors and Employees[198]. Employee and Stakeholder Relations - The Group expressed gratitude to stakeholders, including employees, shareholders, and users, for their support and trust[18]. - As of December 31, 2024, the Group employed approximately 1,202 employees, with competitive salaries and benefits offered to attract and retain quality staff[82]. - The management team emphasizes the importance of human resource strategy in driving company growth[133]. Market Position and Brand Recognition - Headline Daily was ranked as the top brand newspaper and second most trusted in public opinion in Hong Kong according to the "Digital News Report 2024" by The University of Oxford's Reuters Institute[32]. - Ohpama.com was recognized as the "No. 1 Digital Media of the Year - Parenting" for seven consecutive years (2018-2024) by Marketing Magazine[47]. - Smart Parents has been honored with the title of "Best Parenting Magazine" for 12 consecutive years (2013-2024)[47]. - The total followers for Ohpama.com, 24parent.com, and Smart Parents on Facebook and Instagram exceeded 920,000 as of December 2024[104]. - The Group's commitment to high-quality content and valuable advertising services continues to strengthen its competitiveness in the print media market[105]. - The Group's innovative promotional strategies and exceptional media penetration have solidified its leadership in the parenting media sector[106].

Financial Performance - Total revenue for the year ended December 31, 2024, was HKD 777,164,000, a decrease of 5.2% compared to HKD 819,863,000 in 2023[2] - Gross profit for the year was HKD 224,925,000, down 10.9% from HKD 252,479,000 in the previous year[2] - The net loss attributable to the company's owners for the year was HKD 84,251,000, compared to a loss of HKD 49,065,000 in 2023, representing an increase in loss of 71.7%[3] - Basic and diluted loss per share for the year was HKD 9.57, compared to HKD 5.57 in the previous year[3] - Total comprehensive loss for the year was HKD 69,574,000, compared to HKD 26,918,000 in 2023, indicating a significant increase in comprehensive loss[5] - The company reported a pre-tax loss of HKD 75,623,000 for 2024, compared to HKD 79,027,000 in 2023[33] - The company incurred a loss of HKD 5,748,000 in total net income for 2024, compared to a gain of HKD 5,477,000 in 2023[30] Assets and Liabilities - Non-current assets decreased to HKD 1,203,093,000 from HKD 1,236,046,000 in the previous year, reflecting a decline of 2.7%[7] - Current assets decreased to HKD 735,011,000 from HKD 775,163,000, a decline of 5.2%[7] - Total liabilities remained relatively stable, with current liabilities at HKD 162,571,000 compared to HKD 163,420,000 in 2023[8] - The company's equity attributable to owners decreased to HKD 1,631,294,000 from HKD 1,700,868,000, a decline of 4.1%[8] - The accounts receivable decreased to HKD 158,200,000 in 2024 from HKD 190,118,000 in 2023, with a provision for impairment of HKD 15,042,000[40] - The accounts payable totaled HKD 25,930,000 in 2024, down from HKD 29,306,000 in 2023[43] Revenue Breakdown - Revenue from customer contracts decreased to HKD 766,146,000 in 2024, down 5.8% from HKD 813,183,000 in 2023[22] - Advertising revenue was HKD 497,451,000 in 2024, a decline of 8.5% compared to HKD 543,671,000 in 2023[22] - Other income decreased significantly to HKD 32,766,000 in 2024 from HKD 48,651,000 in 2023, primarily due to the absence of government subsidies[30] - The company did not have any revenue exceeding 10% from a single external customer in both 2023 and 2024[20] Market Position and Strategy - Digital media accounted for 56.2% of overall advertising spending in Hong Kong in 2024, indicating a strong market position for the company[49] - The company has been focusing on optimizing its new media business strategy, including upgrading its website and mobile applications to enhance visitor engagement[49] - The total user base and page views for the new media platforms have significantly increased, with a focus on enhancing user experience through the "Sing Tao Headlines" app and "Sing Tao Global" website[50] - The online parenting platform "Oh! Dad and Mom" has maintained its leading position in the market, with over 920,000 followers on Facebook and Instagram as of December 2024[51] - "Headlines Daily" continues to lead the free newspaper market, with a significant drop of 20.8% in overall advertising expenditure for free newspapers in 2024, yet it has maintained stable advertising revenue through innovative business models[56] - "East Week" magazine has achieved a 9.2% increase in advertising revenue despite a 12.1% decline in the overall magazine advertising market in 2024, maintaining the largest market share[60] Employee and Corporate Governance - The group has approximately 1,202 employees as of December 31, 2024, and offers attractive compensation and benefits to retain quality staff[65] - The board held three regular meetings during the year, deviating from the recommended four meetings due to efficiency considerations[71] Future Plans and Investments - The company will not declare a final dividend for the year, consistent with the previous year[68] - The group aims to enhance its digital platform's influence and market competitiveness through increased investment in technology and content innovation[63] - The company plans to host a series of high-impact forums and award ceremonies in 2025 to promote collaboration across various sectors[63] - The company is committed to embracing technological changes, including AI, to optimize content production and user interaction[63] - The group is actively expanding its multi-business operations, including partnerships for high-end talent recruitment and cross-border talent matching[61]

Financial Performance - Revenue for the six months ended June 30, 2024, was HK$379,577,000, a decrease of 2.3% compared to HK$388,470,000 in the same period of 2023[4] - Gross profit increased to HK$109,402,000, up 3.1% from HK$105,755,000 year-on-year[4] - Loss before tax for the period was HK$46,816,000, compared to a loss of HK$42,084,000 in the previous year, representing an increase in loss of 11.5%[4] - Loss for the period attributable to ordinary equity holders was HK$46,804,000, compared to HK$42,675,000 in 2023, reflecting a year-on-year increase of 9.9%[4] - Basic loss per share was HK$5.32, compared to HK$4.85 in the same period last year, indicating a deterioration in performance[4] - Total comprehensive loss for the period attributable to the owners of the company was HK$50,410,000, compared to HK$39,747,000 in 2023, marking an increase of 26.8%[5] - Other comprehensive loss for the period was HK$3,606,000, compared to a gain of HK$2,928,000 in the previous year, indicating a significant decline[5] - The company reported a decrease in other income and gains, netting HK$15,410,000 compared to HK$29,256,000 in the prior year, a drop of 47.3%[4] Expenses and Liabilities - Distribution expenses were HK$62,209,000, slightly down from HK$62,855,000 in 2023, showing a decrease of 1.0%[4] - Administrative expenses decreased to HK$105,506,000 from HK$106,340,000, reflecting a reduction of 0.8% year-on-year[4] - Total non-current assets decreased to HK$1,204,775,000 as of June 30, 2024, from HK$1,236,046,000 as of December 31, 2023, representing a decline of approximately 2.5%[6] - Current assets totaled HK$741,626,000 as of June 30, 2024, down from HK$775,163,000 at the end of 2023, indicating a decrease of about 4.3%[6] - Net current assets were HK$585,777,000 as of June 30, 2024, compared to HK$611,743,000 at the end of 2023, reflecting a reduction of approximately 4.3%[6] - Total equity attributable to owners of the Company was HK$1,650,458,000 as of June 30, 2024, down from HK$1,700,868,000 at the end of 2023, a decrease of about 2.9%[6] - The Company reported a total comprehensive loss of HK$50,410,000 for the six months ended June 30, 2024, primarily due to a loss of HK$46,804,000 in retained profits[7] - The reserves in the consolidated statement of financial position amounted to HK$1,474,349,000 as of June 30, 2024, down from HK$1,511,930,000 a year earlier, indicating a decrease of approximately 2.5%[8] - The Company’s total current liabilities decreased to HK$155,849,000 as of June 30, 2024, from HK$163,420,000 at the end of 2023, a reduction of about 4.6%[6] - Non-current liabilities decreased to HK$140,094,000 as of June 30, 2024, from HK$146,921,000 at the end of 2023, indicating a decline of approximately 4.6%[6] Cash Flow and Investments - Net cash flows generated from operating activities for the six months ended June 30, 2024, were HK$10,522,000, compared to a net cash outflow of HK$1,904,000 in the same period of 2023[11] - Cash and cash equivalents increased to HK$529,432,000 as of June 30, 2024, from HK$524,258,000 at the end of 2023, showing a slight increase of about 1.2%[6] - Net cash flows used in investing activities were HK$97,267,000 for the six months ended June 30, 2024, compared to HK$107,545,000 in 2023, indicating a reduction of 9.3%[11] - The company reported a net decrease in cash and cash equivalents of HK$93,954,000 for the period, compared to a decrease of HK$117,440,000 in the previous year[11] Market and Economic Environment - Hong Kong's GDP grew by 3.3% year-on-year in Q2 2024, surpassing the 2.8% growth recorded in Q1 2024[45] - Private consumption expenditure fell by 1.6% in Q2 2024, marking the first decline since Q3 2022, after a 1.2% increase in Q1 2024[45] - The overall market sentiment in Hong Kong remains cautious due to ongoing global economic uncertainties and inflationary pressures[45] Advertising and Media Performance - Total advertising expenditure in Hong Kong for the first half of 2024 reached HK$14.3 billion, remaining stable compared to last year[48] - Digital media accounted for 56.4% of Hong Kong's total advertising expenditure in the first half of 2024, indicating a strong focus on new media[49] - In the first quarter of 2024, advertising expenditure in Hong Kong dropped by 4.9% YoY due to a sluggish advertising market influenced by external economic factors[51] - Sing Tao Daily's advertising revenue remained consistent with market performance despite a 1.2% YoY decrease in total advertisement expenditure on paid newspapers[58] - Headline Daily's advertising revenue experienced slight growth despite a significant 24.8% YoY decrease in total advertising spending on free newspapers[59] - The Group's advertising revenues have been boosted by the recovery of the travel and related industries, particularly from government, banking, insurance, and entertainment sectors[58] Digital Transformation and Innovation - The Group is actively pursuing digital transformation, having launched a revamped website to improve user browsing experience and increase audience engagement[67] - Sing Tao is committed to integrating artificial intelligence technologies to enhance business performance, including content creation and data analysis, aiming to optimize user experience[70] - The Group is focusing on media innovation and digital transformation to enhance user experience and advertising conversion[72] Corporate Governance and Compliance - The audit committee reviewed the unaudited condensed consolidated financial statements for the period, focusing on risk management and internal control systems[102] - The company has complied with the Corporate Governance Code throughout the reporting period[100] - All directors confirmed compliance with the Model Code for securities transactions during the reporting period[101] Shareholder Information - The Group did not declare any interim dividend for the six months ended 30 June 2024, consistent with the previous year[22] - As of June 30, 2024, Power Giant Holdings Limited and Vast Resources International Limited each hold 125,000,000 shares, representing 14.20% of the company's issued voting shares[87] - Stagelight Group Limited holds 81,959,500 shares, accounting for 9.31% of the company's issued voting shares[87] - The total number of outstanding share options as of June 30, 2024, is 15,650,000, with an exercise price ranging from HK$1.010 to HK$1.160[91][92] - During the reporting period, 500,000 share options lapsed, reducing the total from 15,650,000 to 15,150,000[95] - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[99]

Financial Performance - The company reported a revenue of HKD 379,577,000 for the six months ended June 30, 2024, compared to HKD 388,470,000 in the same period of 2023, representing a decrease of approximately 2.3%[1] - Gross profit for the period was HKD 109,402,000, an increase from HKD 105,755,000 year-over-year, indicating a growth of about 2.5%[1] - The company recorded a loss before tax of HKD 46,816,000, compared to a loss of HKD 42,084,000 in the previous year, reflecting an increase in losses of approximately 11.5%[2] - The net loss for the period was HKD 46,804,000, compared to a net loss of HKD 42,675,000 in the same period last year, marking an increase in losses of about 9.9%[2] - Revenue from customer contracts decreased to HKD 374.3 million for the six months ended June 30, 2024, down from HKD 385.3 million in the same period of 2023, a decline of approximately 2.6%[3] - Advertising revenue accounted for HKD 246.6 million, down from HKD 257.2 million, reflecting a decrease of about 4.7% year-over-year[3] - The total revenue from operating lease rental income increased to HKD 5.3 million, compared to HKD 3.2 million in the previous year, marking an increase of approximately 67.1%[3] Assets and Equity - The company's total non-current assets decreased to HKD 1,204,775,000 from HKD 1,236,046,000, a decline of approximately 2.5%[4] - Current assets totaled HKD 741,626,000, down from HKD 775,163,000, representing a decrease of about 4.3%[4] - The company's cash and cash equivalents slightly increased to HKD 529,432,000 from HKD 524,258,000, showing a marginal growth of approximately 1.0%[4] - Total equity attributable to the company's owners decreased to HKD 1,650,458,000 from HKD 1,700,868,000, a decline of about 3.0%[5] Customer and Market Insights - The company has not reported any revenue from a single external customer exceeding 10% of total revenue during the period[7] - The company operates as a single operating segment, focusing on publishing and distributing newspapers, magazines, and books primarily in Hong Kong, Canada, the United States, and Europe[7] Dividends and Securities - The company did not declare any interim dividend for the six months ended June 30, 2024, consistent with the previous year[13] - The board has decided not to declare any interim dividend for this period, consistent with the previous year[28] - The company did not repurchase, sell, or redeem any of its listed securities during this period[29] Compliance and Governance - The company has adopted and complied with the corporate governance code as per the Hong Kong Stock Exchange listing rules[30] - The company has confirmed compliance with the standards for securities trading by directors during this period[31] - The interim financial statements have been reviewed by the audit committee, discussing risk management and internal control systems[32] - The interim results announcement is available on the Hong Kong Stock Exchange website and the company's website[33] Advertising and Economic Environment - In the first half of 2024, Hong Kong's GDP grew by 3.3% year-on-year, up from 2.8% in the first quarter[17] - Digital media advertising spending accounted for 56.4% of total advertising expenditure in Hong Kong during the first half of 2024[18] - Advertising spending for paid newspapers decreased by approximately 1.2% year-on-year in the first six months of 2024, while the overall market performance remained stable[20] - The advertising revenue for the free newspaper "Headlines Daily" saw a slight increase despite a 24.8% year-on-year decline in total advertising spending for free newspapers[21] - The advertising revenue for "English Tiger News" decreased in the first half of 2024 but still outperformed the overall free newspaper advertising market[22] - The government consumption expenditure increased by 2.0% after five consecutive quarters of decline, contrasting with a 1.6% drop in private consumption expenditure[17] - The total advertising expenditure in Hong Kong for the first half of 2024 was HKD 14.3 billion, remaining similar to the previous year[17] - The real estate advertising revenue remained weak due to developers' cautious attitudes despite new property launches following the government's policy adjustments[20] - The global economic environment has been impacted by inflation, high interest rates, and geopolitical conflicts, leading to significant challenges for advertising clients and pressure on overseas business operations[23] - In the first half of 2024, the advertising expenditure in the Hong Kong magazine market decreased by 35.7%, while the flagship magazine "East Week" recorded an 8.4% increase in advertising revenue, maintaining the largest market share[24] - The recruitment publications, including "JobMarket," hold the largest market share in the print recruitment media sector, with "JobMarket" having the most extensive railway distribution network in Hong Kong[25] Employee and Operational Insights - The company has approximately 1,218 employees as of June 30, 2024, and offers attractive compensation and benefits to retain quality staff[27] - The company maintained strict control over overdue accounts receivable, with a credit monitoring department in place to minimize credit risk[14] - The accounts receivable net value as of June 30, 2024, was HKD 147.1 million, down from HKD 190.1 million as of December 31, 2023, indicating a decrease of approximately 22.6%[14] - The total accounts payable and notes as of June 30, 2024, was HKD 25.4 million, a decrease from HKD 29.3 million as of December 31, 2023, representing a decline of about 13.3%[15]

Company Milestones and Achievements - The company celebrated its 85th anniversary in 2023, launching the "SING TAO HEADLINES" website with a new positioning and a series of commemorative activities[36] - In 2023, Sing Tao News Corporation celebrated its 85th anniversary with a series of successful events, marking a significant milestone in its history[62] - The Group launched a commemorative book titled "Growing with Hong Kong" to celebrate over 50 years of growth[77] Infrastructure and Capacity Expansion - The company expanded its printing capacity by adding a new production line, becoming the largest printing facility in Hong Kong and the first in Asia to receive multiple ISO certifications[32] - The company’s headquarters in Tseung Kwan O was officially opened in 2017, featuring an 8-story building with a total floor area of 33,000 square meters[34] Awards and Recognition - The company’s publications, including "Sing Tao Daily" and "Headlines Daily," won a total of 21 awards at the 2021 Hong Kong News Awards, showcasing its professional standards[34] - Sing Tao Daily won the Best News Reporting award for the series "Breaking the Scam" at the Hong Kong News Awards 2023[98] - Sing Tao Daily was awarded 1st Runner-up for the series "The Tragedy of Illegal Workers" and 2nd Runner-up for "Exploring Urban Resilience in Extreme Weather" at the same awards[98] - Sing Tao Daily received the Best News Writing (Chinese) award for the article "Hope to Live Up to Those Who Helped Me" about a Wenchuan earthquake survivor[99] - Headline Daily won the Best Photograph (Sports) award for "Speeding" and was 2nd Runner-up for "Ballet in Water" at the Hong Kong News Awards 2023[100] - Ohpama.com was recognized as the "No. 1 Digital Media of the Year - Parenting" for six consecutive years (2018-2023) by MARKETING-INTERACTIVE[93] - The Group's magazine Smart Parents has been awarded "Best Parenting Magazine" for eleven consecutive years, further solidifying its reputation in the market[161] Financial Performance - The consolidated revenue for the financial year ended December 31, 2023, was approximately HK$819.9 million, a slight increase from HK$815.0 million in the previous year[128] - Loss attributable to owners of the Company was approximately HK$49.1 million, significantly reduced from HK$138.8 million last year[128] - The Group maintained a cash balance of approximately HK$524.3 million as of December 31, 2023, up from approximately HK$472.5 million in 2022[133] - The gearing ratio was 0.8% as of December 31, 2023, down from 1.4% in the previous year[134] - The Board did not recommend the payment of a final dividend for the year, and no interim dividend was declared[129] - The Group paid approximately HK$15.2 million for purchases of property, plant, and equipment during the year[133] - The Group did not have any contingent liabilities or claims considered material as of December 31, 2023[136] Market and Economic Conditions - Economic sentiment in Hong Kong remained positive, but local consumption and advertising placements were impacted by geopolitical tensions and high-interest rates[58] - Advertising spending in Hong Kong amounted to HK$30.1 billion in 2023, reflecting a year-on-year increase of 5.4%[146] - The property sector experienced a year-on-year drop of 5% in advertising spending in 2023 due to market adjustments[150] - The magazine market in Hong Kong saw a significant 19.1% YoY decline in advertising spending in 2023, yet East Week maintained the largest market share[178] Digital Transformation and New Media - The Group is committed to digital transformation, enhancing its digital platforms and improving user experience through revamped websites and applications[174] - The Group has focused on enhancing its new media business, leveraging technologies like artificial intelligence and big data analytics to improve advertising effectiveness[156] - The new media platform "Sing Tao PROBE" was launched, serving as a complaint platform for citizens and businesses, enhancing community engagement[160] - The Group's new media business revenue showed significant growth in 2023, driven by improvements in user experience and the integration of AI and big data analytics[158] - The Group launched the new "Sing Tao Headline" website and optimized the app, achieving significant user growth and page views[157] Corporate Social Responsibility and Community Engagement - The company established the "Sing Tao Charity Fund" to provide financial support to those in need, including scholarships for students and assistance for disaster victims[38] - The Group is dedicated to sustainable development and corporate social responsibility, focusing on environmental protection and community involvement[183] Leadership and Management - Mr. Kwok Ying Shing has been the chairman and an executive director since 2021, and he is responsible for overall strategy and investment planning[188] - Ms. Kwok Hiu Ting has been the vice-chairman and co-CEO since 2021, with a background in business and sustainability management[197][198] - Mr. Cai Jin has been an executive director and co-CEO since 2021, bringing over 15 years of experience in media and finance[199] - The management team includes members with significant experience in both corporate governance and industry leadership[197][199] Future Outlook - Looking ahead to 2024, the Hong Kong Government's measures to promote economic development are expected to inject new momentum into the economy[182] - The Group aims to drive media innovation and digital transformation while maintaining its position in the traditional media market[182] - The Group plans to organize major events to promote market development and cultural communication in the Greater Bay Area[184]

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 819,863,000, a slight increase from HKD 815,008,000 in 2022, representing a growth of approximately 0.35%[10] - Gross profit for the year was HKD 252,479,000, up from HKD 207,247,000 in the previous year, indicating a growth of about 21.8%[10] - The net loss attributable to equity holders for the year was HKD 49,065,000, compared to a loss of HKD 138,784,000 in 2022, reflecting a significant improvement[13] - Basic and diluted earnings per share for 2023 were both reported at HKD (5.57), compared to HKD (15.76) in 2022, showing a significant decline in profitability[35] - The company reported a net loss of HKD 49,065,000 for 2023, an improvement from a net loss of HKD 138,784,000 in 2022[62] - The company's attributable comprehensive loss decreased significantly from approximately HKD 138.8 million in 2022 to about HKD 49.1 million in 2023, benefiting from accelerated transformation in new media business and effective cost control[99] Revenue Breakdown - Revenue from customer contracts amounted to HKD 813,183,000 in 2023, compared to HKD 807,910,000 in 2022, indicating a year-over-year increase of about 0.41%[33][56] - Revenue from advertising in newspapers, magazines, and radio broadcasting was a significant contributor, with performance obligations generally fulfilled within one month[47] - Rental income from operating leases totaled HKD 6,680,000 in 2023, down from HKD 7,098,000 in 2022, reflecting a decrease of approximately 5.9%[56] - The group's other income increased to HKD 48,651,000 in 2023 from HKD 42,363,000 in 2022, representing a growth of approximately 7.6%[87] - The group's advertising revenue remained stable in 2023 compared to 2022, with a recovery in tourism-related advertising contributing to growth in certain sectors[84] - Digital advertising revenue for "英文虎報" showed an upward trend, benefiting from online content marketing and sponsored content growth[86] - The advertising revenue for the free newspaper "Headlines Daily" recorded double-digit growth, significantly outperforming the market average[104] Assets and Liabilities - Current assets totaled HKD 775,163,000, an increase from HKD 765,743,000 in the previous year, showing a growth of approximately 1.8%[15] - Total current liabilities decreased to HKD 163,420,000 from HKD 175,965,000, representing a reduction of about 7.5%[2] - The total assets after deducting current liabilities amounted to HKD 1,847,789,000, down from HKD 1,878,678,000, indicating a decrease of approximately 1.6%[4] - Non-current liabilities totaled HKD 146,921,000, a slight decrease from HKD 150,892,000 in the previous year, reflecting a reduction of about 2%[22] - The company's equity attributable to equity holders was HKD 1,700,868,000, down from HKD 1,727,786,000, indicating a decrease of approximately 1.6%[22] - The total non-current assets decreased to HKD 1,236,046,000 in 2023 from HKD 1,288,900,000 in 2022, a decline of about 4.1%[66] Market and Economic Conditions - The overall economic environment remains uncertain, with local consumption showing weakness and external political factors affecting market conditions[80] - The outlook for 2024 indicates a complex external environment, but the Hong Kong government is implementing measures to stimulate economic growth, which may provide new opportunities for the company[127] Strategic Initiatives - The company continues to focus on expanding its readership in Hong Kong, North America, and Europe, as well as selling related content in mainland China[43] - The group plans to invest more resources into enhancing digital platform performance and integrating its website and app to increase revenue from digital platforms and programmatic advertising[86] - The company launched a new complaint platform "Star Island Complaint King," aimed at providing a voice for citizens and businesses, enhancing community engagement[101] - The "星島學習平台" launched a national education and media literacy program, attracting over 60,000 teachers and students, generating additional revenue for the group[84] - The company plans to organize a series of large-scale events to promote market development and cultural exchange in the Greater Bay Area[109] Employee and Governance - As of December 31, 2023, the company had approximately 1,220 employees[110] - The board of directors did not recommend the distribution of a final dividend for the year[111] Accounting and Reporting - The financial statements have been prepared in accordance with the revised Hong Kong Financial Reporting Standards, with no significant impact on the financial position or performance of the company[42] - The company has maintained consistent accounting policies across its subsidiaries, ensuring uniformity in financial reporting[52] - The overall deferred tax balance presented in the consolidated financial position has not been significantly affected by the recent accounting policy changes[39]

Financial Performance - Revenue for the six months ended June 30, 2023, was HK$388,470,000, representing an increase of 5.8% compared to HK$367,049,000 for the same period in 2022[13] - Gross profit for the same period was HK$105,755,000, up from HK$64,463,000, indicating a significant improvement in profitability[13] - Loss before tax decreased to HK$42,084,000 from HK$109,302,000, showing a reduction of 61.5% year-over-year[13] - Loss for the period was HK$42,675,000, compared to HK$109,321,000 in the previous year, reflecting a substantial decrease in losses[14] - Basic and diluted loss per share improved to HK$4.85 from HK$12.42, indicating better performance on a per-share basis[13] - Other income and gains increased to HK$29,256,000 from HK$16,814,000, contributing positively to overall financial results[13] - Total comprehensive loss for the period attributable to the owners of the company was HK$39,747,000, down from HK$99,556,000 in the prior year[14] - The group reported a loss before tax of HK$42,675,000 for the six months ended June 30, 2023, compared to a loss of HK$109,321,000 in 2022, indicating a significant improvement[58] Assets and Liabilities - Total non-current assets decreased from HK$1,288,900,000 as of December 31, 2022, to HK$1,243,309,000 as of June 30, 2023, representing a decline of approximately 3.5%[16] - Current assets totaled HK$748,939,000 as of June 30, 2023, a slight decrease from HK$765,743,000 as of December 31, 2022, indicating a reduction of about 2.2%[18] - Total current liabilities decreased from HK$175,965,000 as of December 31, 2022, to HK$158,740,000 as of June 30, 2023, showing a reduction of about 9.8%[18] - Net assets decreased from HK$1,727,786,000 as of December 31, 2022, to HK$1,688,039,000 as of June 30, 2023, a decline of approximately 2.3%[18] - Total equity attributable to owners of the Company decreased from HK$1,727,786,000 as of December 31, 2022, to HK$1,688,039,000 as of June 30, 2023, a decrease of about 2.3%[18] Cash Flow - Net cash flows used in operating activities for the six months ended June 30, 2023, were HK$(1,904,000), a significant improvement from HK$(97,932,000) in 2022[25] - Cash and cash equivalents increased from HK$472,454,000 as of December 31, 2022, to HK$511,725,000 as of June 30, 2023, reflecting a growth of approximately 8.3%[18] - The company reported a net decrease in cash and cash equivalents of HK$117,440,000 for the six months ended June 30, 2023[25] - Cash and cash equivalents at the end of the period were HK$343,502,000, down from HK$412,509,000 at the end of June 2022[25] Operational Efficiency - Administrative expenses decreased to HK$106,340,000 from HK$115,680,000, reflecting cost control measures[13] - Distribution expenses also saw a reduction to HK$62,855,000 from HK$75,451,000, indicating improved efficiency in operations[13] - Inventories decreased from HK$37,065,000 as of December 31, 2022, to HK$25,775,000 as of June 30, 2023, representing a decline of approximately 30.5%[18] - Trade receivables decreased from HK$190,631,000 as of December 31, 2022, to HK$171,425,000 as of June 30, 2023, a reduction of about 10.1%[18] Revenue Sources - For the six months ended June 30, 2023, revenue from contracts with customers was HK$385,311,000, an increase of 6.0% compared to HK$363,509,000 in the same period of 2022[39] - Advertising income rose to HK$257,244,000, up 8.5% from HK$237,161,000 in the previous year[41] - Gross rental income from operating leases for the same period was HK$3,159,000, slightly down from HK$3,540,000 in 2022[39] Market and Strategic Initiatives - The Group is committed to expanding its presence in the new media business by enhancing online platforms and utilizing technologies such as artificial intelligence and big data analytics[113] - The Group's strategy includes leveraging artificial intelligence and big data analytics to provide diversified news and lifestyle information, aiming for breakthroughs in the digital domain[115] - The Group launched the "Sing Tao Probe," a unique complaint platform in Hong Kong, aimed at enhancing community engagement and addressing citizen concerns[114][116] - The Group is committed to expanding its presence in Mainland China and the Greater Bay Area, enhancing information accessibility between these regions[114][116] Employee and Management - Total compensation paid to key management personnel was HK$2.022 million for the six months ended June 30, 2023, down from HK$5.085 million in the previous period[103] - The Group had approximately 1,219 employees as of June 30, 2023, with competitive salaries and benefits to attract and retain quality staff[148] Governance and Compliance - The Company has complied with the Corporate Governance Code throughout the period[177] - All directors confirmed compliance with the Model Code for securities transactions during the period[178] - The audit committee reviewed the unaudited condensed consolidated financial statements for the period, focusing on risk management and internal control systems[179]

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的內容概不負責，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的任何損失承擔任何責任。 SING TAO NEWS CORPORATION LIMITED 星島新聞集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：1105） 截至二零二三年六月三十日止六個月之中期業績公告 星島新聞集團有限公司（「本公司」）董事會（「董事會」）公佈本公司及其附屬公司（「本集 團」）截至二零二三年六月三十日止六個月之未經審核綜合業績，連同二零二二年同期之比較 數字如下： 綜合損益表 截至二零二三年六月三十日止六個月 截至六月三十日止六個月 二零二三年 二零二二年 （未經審核） （未經審核） 附註 千港元 千港元 收入 3 388,470 367,049 銷售成本 (282,715) (302,586) ...

Digital Transformation and Innovation - Sing Tao News Corporation launched the "Sing Tao Headline" app early in 2022, achieving significant success in the digital arena amidst the challenges posed by the COVID-19 pandemic[13]. - The company has been continuously innovating to integrate print media with new media, enhancing user experience and adapting to digital transformations[13]. - Sing Tao aims to achieve breakthroughs in employee thinking and business models to keep pace with the evolving media landscape[13]. - The "Sing Tao Headlines" app achieved over 2 million downloads since its launch in January 2022, integrating big data and AI technologies[99]. - The total daily page views for the "Sing Tao Headlines" platform approached 10 million in early 2023, more than doubling from mid-2022[100]. - The "Sing Tao Headlines" website content transitioned from the Headline Daily website in February 2023, streamlining user access to news[101]. Financial Performance and Management - The consolidated revenue for the financial year ended December 31, 2022, was approximately HK$815.0 million, a decrease from approximately HK$834.8 million in the previous year[69]. - Loss attributable to owners of the Company amounted to approximately HK$138.8 million, slightly improved from a loss of approximately HK$139.8 million last year[69]. - The Group maintained a cash balance of approximately HK$472.0 million as of December 31, 2022, down from approximately HK$527.0 million in the previous year[71]. - The gearing ratio increased to 1.4% as of December 31, 2022, compared to 0.3% in the previous year[72]. - The Board did not recommend the payment of a final dividend for the Year, and no interim dividend was declared[70]. - The Group adopted a prudent approach in managing its treasury function to minimize the impact of foreign exchange fluctuations[73]. - The financial position of the Group remained strong throughout the Year[71]. - The Group did not have any significant investments, material acquisitions, or disposals of subsidiaries during the year[81]. Market Trends and Advertising - Local advertising expenditure in 2022 was HK$28.1 billion, similar to 2021, but recorded a decrease of 5.3% in the first quarter due to the impact of COVID-19[84]. - Digital media advertising expenditure recorded a 7% year-on-year increase in 2022, indicating a shift towards digital channels[91]. - The advertising expenditure on free newspapers decreased by 15% YoY in 2022 due to the impacts of COVID-19 and economic conditions, affecting advertising income[109]. - The group is actively expanding non-consumption goods advertising categories and enhancing online and offline joint advertising sales[109]. - The Group anticipates a recovery in local advertising expenditures in 2023, supported by the lifting of quarantine restrictions in Mainland China and Hong Kong[129]. Community Engagement and Social Responsibility - Sing Tao organized major celebration activities for the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, showcasing its community engagement[24]. - The Group's strategic focus includes promoting healthy and sustainable social development as a guiding principle for its operations[12]. - Sing Tao Daily's overseas offices actively engaged in cultural activities to strengthen connections with overseas Chinese communities[41]. - The "Sing Tao Learning Platform" launched a national education and media literacy program, attracting over 30,000 teachers and students, contributing additional revenue[118]. Corporate Governance and Management - The Company has adopted the Corporate Governance Code and complied with it throughout the review period, with specified deviations explained[167]. - The Board consists of seven directors, including four executive directors and three independent non-executive directors, as of December 31, 2022[169]. - The Company maintains liability insurance for its directors and senior management officers to cover legal liabilities arising from their duties[176]. - The Company encourages all directors to participate in continuous professional development programs relevant to their duties, with expenses covered by the Company[183]. - The Board is responsible for reviewing and approving the Group's objectives, strategies, and annual budget[170]. - The Remuneration Committee approved discretionary bonuses for Executive Directors and senior management based on their performances[191]. Milestones and Celebrations - In 2023, Sing Tao celebrates its 85th anniversary, marking a significant milestone in its evolution from a local newspaper to a global multimedia group serving Chinese communities worldwide[16]. - 2023 marks the 85th anniversary of Sing Tao, which the company plans to celebrate with a series of exhibitions showcasing its development history and Hong Kong's history[135].

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的內容概不負責，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的任何損失承擔任何責任。 SING TAO NEWS CORPORATION LIMITED 星島新聞集團有限公司* （於百慕達註冊成立之有限公司） （股份代號：1105） 截至二零二二年十二月三十一日止年度末期業績公佈 星島新聞集團有限公司（「本公司」）之董事會（「董事會」）欣然公佈本公司及其附屬 公司 （「本集團」）截至二零二二年十二月三十一日止年度之綜合業績，連同上一年度之比 較數字如下： 綜合損益表 截至二零二二年十二月三十一日止年度 附註 二零二二年 二零二一年 千港元 千港元 收入 4 815,008 834,788 銷售成本 (607,761) (585,668) 毛利 207,247 249,120 ...