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 ...

Financial Performance - For the six months ended June 30, 2022, the revenue was HK$367,049,000, a decrease of 4.4% compared to HK$382,442,000 in the same period of 2021[12]. - The gross profit for the same period was HK$64,463,000, down 48.6% from HK$125,521,000 in 2021[12]. - The loss before tax was HK$109,302,000, compared to a loss of HK$63,689,000 in the prior year, indicating a significant increase in losses[12]. - The loss for the period attributable to equity holders was HK$109,321,000, compared to HK$63,187,000 in 2021, reflecting a worsening financial position[15]. - Basic loss per share was HK(12.42) cents, compared to HK(7.18) cents in the previous year, indicating a decline in shareholder value[12]. - The total comprehensive loss for the period attributable to the owners of the company was HK$99,556,000, compared to HK$56,324,000 in the previous year[15]. - The group recorded a consolidated revenue of approximately HKD 367 million for the six months ended June 30, 2022, compared to approximately HKD 382.4 million for the same period last year, representing a decline of about 4.5%[90]. - The consolidated loss for the current period was approximately HKD 109.3 million, compared to a loss of approximately HKD 63.2 million in the same period last year, indicating an increase in loss of about 73%[90]. Cash Flow and Liquidity - The company reported a cash flow position with net cash used in operating activities, indicating potential liquidity challenges[11]. - Cash and cash equivalents decreased to HK$414,651,000 as of June 30, 2022, from HK$526,947,000 as of December 31, 2021, a decline of approximately 21.3%[18]. - The net cash flows used in operating activities for the six months ended June 30, 2022, were HK$97,932,000, compared to net cash flows from operating activities of HK$11,754,000 in 2021[31]. - The group reported a net decrease in cash and cash equivalents of HK$116,154,000 for the six months ended June 30, 2022[31]. - The Group's liquidity position was strong, with a cash balance of approximately HK$415 million as of June 30, 2022, down from HK$527 million at the end of 2021[125]. Assets and Liabilities - Total non-current assets decreased to HK$1,353,406,000 as of June 30, 2022, from HK$1,365,544,000 as of December 31, 2021, representing a decline of approximately 0.14%[18]. - Current assets decreased to HK$681,797,000 as of June 30, 2022, down from HK$788,487,000 as of December 31, 2021, indicating a reduction of about 13.5%[18]. - Net current assets were HK$508,993,000 as of June 30, 2022, compared to HK$594,021,000 as of December 31, 2021, reflecting a decrease of approximately 14.3%[18]. - Total equity attributable to owners of the Company decreased to HK$1,741,696,000 as of June 30, 2022, from HK$1,841,252,000 as of December 31, 2021, a decline of about 5.4%[21]. - Non-current liabilities increased slightly to HK$120,703,000 as of June 30, 2022, from HK$118,313,000 as of December 31, 2021[18]. Revenue Sources - For the six months ended June 30, 2022, revenue from contracts with customers was HK$363,509,000, a decrease of 3.7% compared to HK$378,221,000 in 2021[39]. - Advertising income for the same period was HK$237,161,000, down 11.0% from HK$266,606,000 in 2021[40]. - Circulation income increased to HK$75,742,000, up 3.9% from HK$72,823,000 in 2021[40]. - The total revenue from other sources, including gross rental income, was HK$3,540,000, down from HK$4,221,000 in 2021[39]. Strategic Initiatives - The management discussed future strategies to enhance revenue streams and reduce costs, focusing on digital transformation and market expansion[11]. - The company is exploring new product development and technological advancements to improve its competitive edge in the media industry[11]. - The Group plans to invest in digital technologies and develop a "dual-engine drive" strategy to integrate traditional and new media[123]. - The group aims to enhance its international exposure and report on Hong Kong's developments as part of its 85th anniversary initiatives[124]. - The group continues to invest in digital technologies, including data and analytics tools, to improve content quality and user engagement[126]. Market Conditions - The reduction in newspaper advertising income was primarily due to the fifth wave of COVID-19 in Hong Kong, which adversely affected the advertising market[87]. - The overall advertising expenditure in Hong Kong for the first half of 2022 was HKD 13.5 billion, down 2.5% year-on-year due to the impact of the pandemic[91]. - The recorded spending on advertisement in Hong Kong decreased by 2.5% year on year, amounting to HK$13.5 billion in the first half of 2022[88]. Corporate Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the period, focusing on risk management and internal control systems[172]. - The company has complied with the Corporate Governance Code throughout the reporting period[171]. - The company confirmed compliance with the Model Code for directors' securities transactions throughout the period[171]. Shareholder Information - The company did not declare any interim dividend for the six months ended June 30, 2022, consistent with the previous year[57]. - Vast Resources International Limited, wholly owned by Ms. Kwok Hiu Ting, held 250 million shares, representing 28.39% of the company's issued voting shares[133]. - Stagelight Group Limited held 81,959,500 shares, accounting for 9.31% of the company's issued voting shares[144].

COVID-19 Impact and Recovery - The Group's operations were significantly impacted by the fifth wave of COVID-19 in early 2022, leading to a decline in consumer sentiment and affecting the advertising market in Hong Kong[12]. - The group anticipates that consumer confidence in Hong Kong remains uncertain due to the impact of the COVID-19 variant, which has hindered economic recovery since Q4 2021[102]. - The overseas operations of Sing Tao Daily experienced a slight decline in revenue and profit due to COVID-19 impacts, although advertising revenue increased in the second half of the year[91]. - The COVID-19 pandemic has prompted the Group to adapt and innovate, accelerating its new media development to meet changing consumer lifestyles[74]. Digital Transformation and Innovation - The Group established a New Media Business Division to enhance online content and invest in innovative technologies such as artificial intelligence and big data analysis[13]. - The Group's efforts in digital transformation are aimed at adapting to changing consumer lifestyles and enhancing competitiveness in the media industry[13]. - The Group's focus on innovation and digital media development is expected to strengthen its market position in the long term[13]. - The Group's digital transformation efforts have led to a 70% increase in monthly unique visitors and a 64% increase in pageviews for the digital version of The Standard in 2021[82]. - The "Sing Tao Headline" App, launched on January 3, 2022, is the first all-in-one mobile app in Hong Kong, combining lifestyle, news, videos, and practical tools, and has received a considerable number of downloads since its launch[68]. Financial Performance - The consolidated revenue for the financial year ended December 31, 2021, was approximately HK$835 million, a slight increase from approximately HK$826 million in the previous year[49]. - The loss attributable to owners of the Company increased to approximately HK$140 million from approximately HK$81 million in the prior year[49]. - The Group maintained a cash balance of approximately HK$527 million as of December 31, 2021, compared to approximately HK$500 million at the end of 2020[51]. - The gearing ratio remained stable at 0.3% as of December 31, 2021, unchanged from the previous year[51]. - The Group's attributable comprehensive loss rose from approximately HKD 80.9 million in 2020 to approximately HKD 139.8 million in 2021, primarily due to the absence of one-time government subsidies received in 2020 and increased costs associated with new business initiatives[69]. Advertising and Market Trends - Advertising spending in Hong Kong increased by 30% year-on-year in 2021, totaling HK$29.6 billion, indicating a recovery in various industries[60]. - Private consumption expenditure in Hong Kong rose by 5.7% compared to 2020, reflecting a short-term economic recovery[60]. - Headline Daily remains the No. 1 free newspaper in Hong Kong with over 1 million readers, despite a 2% YoY decline in advertising revenue[85]. - The overall advertising spending for free newspapers dropped by 5% YoY, with Headline Daily maintaining the largest market share[87]. - Sing Tao Daily's readership grew to 266,000, with a 6% YoY increase in advertisement revenue for paid newspapers[89]. Corporate Social Responsibility and Community Engagement - The Group is committed to sustainable development, enhancing employee safety, and improving workplace conditions amid the pandemic[14]. - The Group's initiatives are designed to inspire employees, benefit communities, and improve the environment, reflecting its commitment to corporate social responsibility[14]. - The Group's "Leader of the Year Awards" recognized achievements in five categories, showcasing its commitment to community and industry[22]. - The Group organized a vaccination lucky draw for employees, with a total prize of HK$1 million awarded to 170 winners[24]. Governance and Management Structure - The Company has adopted the Corporate Governance Code and complied with it throughout the review period[130]. - The Board consists of seven directors, including four executive directors and three independent non-executive directors[132]. - The Company emphasizes good corporate governance as an effective risk management strategy[129]. - The Company has a diverse senior management team with extensive experience in media operations[123][124][125]. - The Company has implemented a structured approach to ensure transparency and effectiveness in its nomination and remuneration processes[171]. Recruitment and Employment - As of December 31, 2021, the Group employed approximately 1,266 employees, with competitive salaries and benefits offered to retain quality staff[58]. - JobMarket ranked first in readership among recruitment magazines with over 324,000 weekly readers, and its job advertising revenue increased by 38%[97]. - The group's recruitment publications, including "JobMarket," "HeadlineJobs," and "The StandardJobs," recorded year-on-year growth in advertising pages of 44%, 30%, and 39% respectively, capturing the largest market share in print recruitment media[101]. Awards and Recognition - The "Smart Parents" platform was awarded "Magazine of the Year" for the 9th consecutive year by Marketing Magazine, highlighting its popularity in the parenting sector[30]. - The Group's one-stop parenting and education platform "Ohpama.com" was recognized as "No.1 Parenting Digital Media of the Year" by Marketing Magazine[39]. - The "Overseas Property Expo 2021" was jointly organized by The Standard and Sing Tao, focusing on investment, emigration, and education[29]. - Headline Daily celebrated its 16th anniversary with various activities and was awarded "Newspaper of the Year" by Marketing Magazine[33].

Financial Performance - Revenue for the six months ended June 30, 2021, was HK$382,442,000, a decrease of 4.2% compared to HK$400,201,000 in the same period of 2020[7] - Gross profit remained stable at HK$125,521,000, slightly up from HK$125,479,000 in 2020, indicating a marginal improvement in profitability[7] - Loss before tax for the period was HK$63,689,000, compared to a loss of HK$61,752,000 in the prior year, reflecting a deterioration in financial performance[7] - Loss for the period attributable to equity holders was HK$63,187,000, compared to HK$61,297,000 in 2020, resulting in a basic loss per share of HK$7.18[7][11] - The Company reported other income and gains of HK$6,253,000, significantly lower than HK$18,625,000 in the previous year, impacting overall profitability[7] - For the six months ended June 30, 2021, the company reported a loss of HK$63,187,000[15] - The company had a total comprehensive loss of HK$56,324,000 for the period[15] - The consolidated loss for the period was approximately HK$63.2 million, compared to a loss of approximately HK$61.3 million for the previous period, indicating a worsening of 3.1%[89] Assets and Equity - Total current assets decreased to HK$865,322,000 from HK$900,260,000 as of December 31, 2020, indicating a reduction in liquidity[13] - Non-current assets totaled HK$1,366,891,000, down from HK$1,401,447,000, reflecting a decrease in long-term asset value[13] - Total equity attributable to owners of the Company decreased to HK$1,921,903,000 from HK$1,978,227,000, indicating a decline in shareholder value[13] - Total equity as of June 30, 2021, was HK$1,921,903,000, a decrease from HK$1,978,227,000 at the beginning of the year[15] Cash Flow - Cash and cash equivalents increased slightly to HK$502,257,000 from HK$499,982,000, showing a stable cash position[13] - Net cash flows from operating activities for the period were HK$11,754,000, compared to HK$14,193,000 in the same period of 2020[21] - Net cash flows from investing activities significantly increased to HK$139,350,000 from HK$21,515,000 in 2020[21] - Cash and cash equivalents at the end of the period were HK$500,115,000, up from HK$424,987,000 in 2020[21] - The company reported a net increase in cash and cash equivalents of HK$138,945,000 for the period[21] Revenue Breakdown - Revenue from contracts with customers for the six months ended June 30, 2021, was HK$378,221,000, a decrease of 4.0% from HK$396,707,000 in the same period of 2020[31] - Advertising income decreased to HK$266,606,000 for the six months ended June 30, 2021, compared to HK$277,493,000 in 2020, reflecting a decline of 3.2%[32] - Circulation income increased slightly to HK$72,823,000 in 2021 from HK$71,718,000 in 2020, representing a growth of 1.5%[32] - Gross rental income from operating leases rose to HK$4,221,000 in 2021, up from HK$3,494,000 in 2020, marking an increase of 20.9%[31] Expenses and Management - Distribution expenses decreased to HK$74,670,000 from HK$80,725,000, suggesting improved cost management in this area[7] - The Group's loss before tax for the six months ended June 30, 2021, was impacted by depreciation expenses totaling HK$46,835,000, down from HK$56,900,000 in 2020[42] - Bank interest income decreased significantly to HK$464,000 in 2021 from HK$2,039,000 in 2020, a decline of 77.2%[35] - Investment income increased to HK$2,528,000 in 2021, compared to HK$1,652,000 in 2020, reflecting a growth of 53.0%[35] Shareholder Information - The Board resolved not to declare any interim dividend for the six months ended 30 June 2021, consistent with the previous year where no dividend was declared[56] - The Group's capital commitments at the end of the reporting period included contracted but not provided for plant and machinery amounting to HK$1.6 million, up from HK$1.3 million[82] - The total number of shares sold in the transaction was finalized after negotiations with the buyer[154] - The total consideration for the sale of shares by the former controlling shareholder was HK$375,000,000[150] Market and Operational Insights - The Hong Kong advertising market saw an overall increase in spending by 34% in the first half of 2021 compared to the same period in 2020, although traditional media sectors lagged behind[90] - The Group has established a New Media Business Division to enhance its new media development and cultural industry investment, focusing on integrating traditional media with new technologies[91] - The Group is focusing on integrating new technologies such as big data, artificial intelligence, and cloud computing into its media operations[112] - The economic outlook is improving as vaccination programs roll out, but recovery to pre-pandemic levels is expected to take time[119] Employee and Governance - The Group had approximately 1,248 employees as of June 30, 2021[124] - The company has complied with the Corporate Governance Code throughout the reporting period[157] - Changes in the board of directors included the appointment of three executive directors and three independent non-executive directors on June 3, 2021[157]

Financial Performance - The consolidated revenue for the financial year ended December 31, 2020, was approximately HK$826 million, a decrease of 34.5% from approximately HK$1,262 million in the previous year[32]. - Loss attributable to owners of the Company amounted to approximately HK$81 million, compared to a loss of approximately HK$23 million in the previous year[32]. - The Group maintained a cash balance of approximately HK$500 million as of December 31, 2020, up from approximately HK$480 million as of December 31, 2019[34]. - The gearing ratio was 0.3% as of December 31, 2020, down from 0.8% as of December 31, 2019[35]. - The Group did not have any significant investments, material acquisitions, or disposals of subsidiaries during the year[43]. Market Conditions - In 2020, Hong Kong's advertising market experienced a significant decline of 18%, marking the worst performance recorded by admanGo[11]. - The Group's financial results were adversely affected due to the severe impact of the COVID-19 pandemic on economic activities, leading to a sharp contraction in GDP[11]. - Private consumption expenditure recorded the steepest annual decline in history, while investment expenditure also decreased, resulting in unemployment reaching a 16-year high[11]. - Hong Kong's real GDP contracted by a record 6.1% in 2020, with private consumption expenditure declining by 10.1%[45]. - The total advertising spending in Hong Kong fell by an unprecedented 18% in 2020, with the newspaper advertising market suffering a 42% decline[46][48]. Digital Transformation - Despite the challenges, the demand for information increased, prompting the Group to enhance its media capabilities both offline and online[12]. - Efforts were intensified to develop digital platforms, including mobile applications, social media, e-commerce, and advertising networks, which are crucial for long-term business growth[12]. - The Group is focusing on developing digital platforms, which are crucial for long-term business growth, in response to increased demand for online media[83]. - The Group plans to capitalize on its strengths in traditional media while integrating new media capabilities to remain a market leader amid ongoing uncertainties[13]. Media Operations - The Group maintained its leadership in the print media market, including Chinese and English newspapers, magazines, and recruitment publications[12]. - Headline Daily maintained its position as Hong Kong's number 1 free newspaper, with an average daily readership of 1,012,000, representing 80% of total Chinese free newspaper readers[50][52]. - Headline Daily increased its share of free newspaper advertising spending in 2020, despite the overall market decline[50]. - Sing Tao Daily achieved a readership of 253,000, the highest among niche/middle-class newspapers in Hong Kong[55]. - The Standard recorded a 89% increase in average monthly visitors and a 62% increase in average monthly pageviews in 2020[56]. Cost Control and Financial Resilience - The Group's media operations implemented prudent cost control measures to mitigate the impact of declining advertising revenue[45]. - The Group is implementing stringent cost control measures while reallocating resources to maintain financial resilience during the pandemic[84]. - The Standard minimized the impact of advertising revenue reduction by implementing cost-saving measures, maintaining profitability[61]. Leadership and Management - Mr. Ho Tsu Kwok has been the Chairman and an Executive Director since 2000, contributing significantly to public affairs and holding various honorary positions[87]. - Mr. Siu Sai Wo has served as the Chief Executive Officer since 2013, bringing over 35 years of experience in the print media industry[87]. - The management team has a diverse background in media, finance, and government relations, enhancing the company's strategic capabilities[96][92]. - The leadership team collectively brings decades of experience in their respective fields, positioning the company for future growth and market expansion[87][96]. Corporate Governance - The company has adopted the Corporate Governance Code and complied with it throughout the review period, with specified deviations explained[121]. - The Board consists of ten directors, including six executive directors and four independent non-executive directors[123]. - The Board is responsible for reviewing and approving the Group's objectives, strategies, and annual budget, as well as the management structure[124]. - The Company encourages Directors to participate in continuous professional development (CPD) programs, including training courses and seminars, to enhance their knowledge and skills[132]. Environmental and Social Responsibility - The Group is committed to reducing emissions and ensuring compliance with environmental regulations, with no significant incidents of non-compliance reported in 2020[194]. - The Group's operations do not result in significant air emissions, and it actively seeks to improve energy efficiency and reduce waste[193]. - The Group has adopted practical policies for corporate social responsibility, focusing on sustainable business growth while safeguarding stakeholder interests[185]. - The company actively seeks to improve energy efficiency and reduce pollution as part of its long-term sustainable development strategy[196].