Financial Performance - The Group's revenue from media and culture business for 2023 was approximately HK$80.3 million, a 33.5% increase from HK$60.2 million in 2022[18]. - Gross profit for the media and culture business in 2023 was approximately HK$15.1 million, compared to HK$4.0 million in 2022, representing a significant improvement[18]. - The net loss attributable to owners of the Company for the year ended December 31, 2023, was approximately HK$45.7 million, a reduction from a net loss of approximately HK$135.9 million in 2022[18]. - Basic loss per share for the year was approximately 5.55 HK$ cents, down from approximately 16.5 HK$ cents in 2022, indicating a decrease in loss per share[19]. - The Group's total losses amounted to approximately HK$378.3 million for 2023, compared to HK$330.5 million in 2022[24]. - The Group's net deficit increased to approximately HK$378.3 million in 2023, compared to approximately HK$330.5 million in 2022[19]. - The Group's bank balances and cash amounted to approximately HK$52.0 million as of December 31, 2023, down from approximately HK$79.4 million in 2022[121]. - The current ratio as of December 31, 2023, was approximately 0.20, compared to approximately 0.28 in 2022, indicating a decline in liquidity[121]. Business Challenges - The media business has been impacted by the COVID-19 pandemic and the strikes of the Writers Guild of America and Screen Actors Guild-AFTRA in 2023, affecting revenue and gross profit[17]. - Delays in distribution and settlement of income from TV drama and film investments have negatively impacted the Group's operating results[17]. - The slow-down of business activities and postponement of film and TV drama projects have further affected the financial results of the Group[17]. - The Group continues to face challenges in recovering from the impacts of the pandemic and industry strikes, which may affect future performance[17]. - The impact of the COVID-19 pandemic and the strikes in 2023 has led to delays in film and TV projects, affecting future cash flow projections[86][97]. Strategic Initiatives - The Company plans to utilize existing Hollywood intellectual property resources to develop metaverse businesses and expand cross-border e-commerce operations[28]. - A reseller service agreement was signed with Alibaba Cloud, allowing the Group to distribute various cloud computing products, which is expected to broaden the revenue base[29][30]. - A strategic cooperation framework agreement was established with Greenland Digital to enhance metaverse business development and digital product platform construction[35][36]. - The Group is reviewing the future prospects of its other business segments and exploring new business opportunities, particularly in Mainland China[37][40]. - The Group aims to recover development costs and generate revenue through various channels, including online distribution, theatrical releases, and IP licensing[82][84]. - The Group is exploring diversified project structuring approaches, including targeting streaming platforms for quicker cost recovery and increased visibility[81][83]. - The Company entered into a Strategic Cooperation Framework Agreement with Greenland Digital to enhance its metaverse business and expand cross-border e-commerce operations, expected to commence in or around 2024[101]. Film and Media Projects - The Group has developed 44 feature projects, with 38 of them having completed scripts[75]. - The film "Crazy Rich Asians," co-invested by the group, has achieved a global box office of USD 238.5 million since its release[49]. - The film "Midway," with a total budget of approximately USD 100 million, has exceeded USD 30 million in overseas pre-sales, excluding the Greater China area[53]. - "Midway" grossed USD 126.7 million worldwide, achieving a 92% audience score on Rotten Tomatoes[54][58]. - The horror film "Scary Stories to Tell in the Dark" was produced for USD 25 million and has grossed USD 104.5 million worldwide[59]. - The company is collaborating with notable directors such as James Wan and Roland Emmerich for the development and production of motion picture projects[75]. - "Malignant" won the ReFrame Stamp for Best Feature at ReFrame 2022 and received multiple nominations for prestigious awards[67]. - "Marshall," featuring Chadwick Boseman, was nominated for an Oscar for Best Original Song and received numerous other award nominations[68]. - "Umma," produced by Sam Raimi, was released on March 15, 2022, and received the ReFrame Stamp award[72]. - The film "Umma" was praised for its unique blend of horror and intimate portrayal of East Asian culture, garnering significant interest from major studios[72]. Corporate Governance - The Company complied with all applicable provisions of the Corporate Governance Code during the year ended December 31, 2023[152]. - The Board consists of six Executive Directors and three Independent Non-executive Directors, ensuring a diverse leadership structure[159]. - Independent Non-executive Directors possess academic and professional qualifications in accounting, enhancing the Board's effectiveness[160]. - The Board is responsible for corporate strategy, annual and interim results, and major acquisitions, ensuring comprehensive oversight of the company's operations[165]. - The company emphasizes compliance with statutory requirements and internal controls as part of its governance framework[165]. - The Company has established a clear process for the appointment and re-election of Directors, ensuring transparency in governance practices[166]. - The Company has adopted a Board Diversity Policy to promote diversity in terms of skills, experience, knowledge, and gender[184]. - The Company has achieved its target of having at least one female Director and 20% female employees during the year ended December 31, 2023[191]. - The gender ratio in the workforce shows 50% female employees and 50% male employees, with a total of 3 females and 10 males[190]. Employment and Workforce - The Group employed 13 employees as of 31 December 2023, a decrease from 20 employees in 2022[137]. - The Group is committed to providing career development opportunities for female staff, focusing on training senior female employees with relevant experience[197]. - The Group has implemented recruitment practices to ensure a diverse range of candidates are considered for positions[197].

Financial Performance - For the year ended December 31, 2023, the company reported total revenue of HKD 80,336,000, representing a 33.4% increase from HKD 60,247,000 in 2022[4] - The gross profit for the same period was HKD 15,102,000, up from HKD 4,028,000 in 2022, indicating a significant improvement in profitability[4] - The net loss for the year narrowed to HKD 45,874,000 compared to a loss of HKD 135,197,000 in the previous year, reflecting a reduction of approximately 66%[4] - Basic and diluted loss per share improved to HKD 5.55 from HKD 16.50 in 2022, showing a positive trend in earnings per share[6] - The group's pre-tax loss for 2023 was HKD 1,311 thousand, a decrease from a pre-tax loss of HKD 7,047 thousand in 2022, indicating an improvement in financial performance[39] - The total financing costs decreased to HKD 22,122 thousand in 2023 from HKD 26,372 thousand in 2022, reflecting a reduction of about 16.5%[41] - The group reported a significant impairment loss on film investments of HKD 896 thousand in 2023, down from HKD 11,738 thousand in 2022, showing a reduction in investment losses[39] - The company recorded a net loss attributable to shareholders of approximately HKD 45.72 million for the year ending December 31, 2023, a decrease from a net loss of approximately HKD 135.87 million in 2022[79] - Basic loss per share for the year was approximately HKD 0.0555, compared to HKD 0.165 in 2022[79] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 476,533,000, down from HKD 566,722,000 in 2022, indicating a decrease in asset base[10] - The company's cash and cash equivalents decreased to HKD 52,003,000 from HKD 79,420,000, reflecting a liquidity contraction[10] - The total liabilities stood at HKD 854,335,000, slightly reduced from HKD 897,134,000 in the previous year, indicating improved liability management[10] - As of December 31, 2023, the group's current liabilities and net loss were HKD 681,435,000 and HKD 378,250,000, respectively[16] - The group failed to repay principal amounts of HKD 500,521,000 in certain interest-bearing loans and film investment loans, with an additional HKD 174,623,000 due within one year[16] - Total loans and film investment loans amounted to HKD 675,144,000, exceeding the group's cash and cash equivalents of HKD 52,003,000 as of December 31, 2023[16] - The current ratio as of December 31, 2023, was approximately 0.20, compared to 0.28 in 2022, based on current assets of approximately HKD 172,900,000 and current liabilities of approximately HKD 854,335,000[91] Business Operations and Strategy - The company is engaged in media and cultural business, with no single controlling shareholder identified as of December 31, 2023[13] - The group operates primarily in the media and cultural business segment, focusing on the production and distribution of films and television programs[32] - The company plans to implement business strategies to enhance profitability and cash inflows[17] - The group plans to allocate more resources to its media and cultural segments, which are seen as the main growth drivers[92] - The company plans to utilize its existing Hollywood intellectual property resources to develop metaverse business and expand cross-border e-commerce operations in Hong Kong and mainland China[80] - A distributor service agreement was signed with Alibaba Cloud, allowing the company to distribute various cloud products, which is expected to broaden the revenue base and enhance shareholder returns[82] - The company is exploring various financing channels, including international sales and NFT applications, to recover costs and generate revenue from its projects[76] Financing and Liquidity - The board is actively negotiating with all lenders to renew and extend overdue loans to alleviate liquidity pressure[17] - The group is in discussions with various financing parties and potential investors to secure new financing sources for operational capital[17] - The board believes that the group's track record in film investment and relationships with renowned directors will facilitate obtaining new financing[17] - The board has taken measures to improve the company's liquidity and financial condition, including negotiations with creditors for loan extensions[116] - The company is actively seeking new financing sources from various film industry financiers and potential investors[117] - Cost control measures will be prioritized, particularly regarding film investment expenditures, to improve cash flow[117] Shareholder Information - The company did not declare or pay any dividends for the years ended December 31, 2023, and December 31, 2022[44] - The annual report will be sent to shareholders and published on the company's website at an appropriate time[118] - The board consists of six executive directors and three independent non-executive directors as of the announcement date[119] Legal and Compliance - The independent auditor did not express an opinion on the group's financial statements due to insufficient appropriate audit evidence to support the use of the going concern basis[109] - The company is facing legal claims related to investment agreements totaling approximately HKD 30.8 million, but management believes the impact on financial statements will not be significant[54] Employee and Organizational Structure - The group employed 13 employees as of December 31, 2023, maintaining the same number as in 2022[94] - The group has established an audit committee with a clear written scope of authority to review and supervise financial reporting processes and risk management[105] Film Projects and Performance - The company has developed 44 film projects, with 38 projects having completed scripts[74] - The film "Midway" had a total investment budget of nearly $100 million and achieved over $30 million in overseas pre-sales during the pre-sale period, excluding the Greater China region[60] - "Midway" grossed a total of $126,696,475 globally, with a strong audience score of 92% on Rotten Tomatoes[62] - "Scary Stories to Tell in the Dark" had a production cost of $25 million and earned $21 million in its opening weekend in the U.S., with a global total of $104,545,505[63] - "Malignant" received a rating of 6.3/10 on IMDb and a 76% approval rating on Tomatometer, indicating a mixed reception from critics and audiences[66] - "Malignant" won the ReFrame Stamp for Best Feature in 2022 and received multiple nominations for various awards[67] - "Mother" was released by Sony Pictures on March 15, 2022, and received significant acclaim for its unique blend of horror elements and East Asian culture[70] - "Mother" was recognized with the ReFrame Stamp film award, highlighting its impact on the film industry[70] - "Marshall" received nominations for several prestigious awards, including an Oscar nomination for Best Original Song[68] - "Midway" was distributed in the U.S. by Summit Entertainment, while Bona Film Group handled distribution in the Greater China region[60] - "Scary Stories to Tell in the Dark" was co-produced by CBS Films, eOne, and the group, showcasing a collaborative effort in its production[63]

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。 1 STARLIGHT CULTURE ENTERTAINMENT GROUP LIMITED 星光文化娛樂集團有限公司 （於百慕達註冊成立之有限公司） （股份代號：1159） 有關截至二零二二年十二月三十一日止年度之年報之補充公告 茲提述星光文化娛樂集團有限公司（「本公司」）截至二零二二年十二月三十一日止年 度之年報（「二零二二年年報」）。除文義另有所指外，本公告所用詞彙與二零二二年 年報所界定者具有相同涵義。 除二零二二年年報第165頁所披露者外，本公司謹此向其股東補充進一步資料，內 容有關綜合財務報表附註「 19.電影及電視節目及節目版權投資」一節所載截至二零 二二年十二月三十一日止年度之電影及電視節目及節目版權投資可收回金額所採 用之折現率，補充如下：－ 截至二零二二年十二月三十一日止年度之折現率介乎21.39%至22.15%，乃計算電 影投資使用價值時所使用之折現率，其賬面值於本公司於二零二二 ...

Financial Performance - Revenue from the media and culture business for the six months ended June 30, 2023, was approximately HK$44.2 million, an increase from approximately HK$37.1 million in the same period of 2022, representing a growth of about 19%[13]. - The Group reported a net loss attributable to owners of the Company of approximately HK$25.3 million for the six months ended June 30, 2023, compared to a net loss of approximately HK$53.2 million in 2022, indicating a reduction in losses by approximately 52%[13]. - Gross profit for the media and culture business increased to approximately HK$11.6 million, compared to HK$2.1 million for the same period in 2022, reflecting a significant improvement[57]. - Basic loss per share decreased to approximately 3.07 HK$ cents from approximately 6.46 HK$ cents in the prior year[61]. - The company reported a total comprehensive loss for the period of HK$27,622,000, compared to HK$54,492,000 in the same period last year, reflecting a 49.3% improvement[132]. - For the six months ended June 30, 2023, the company reported a loss attributable to owners of the parent of HK$25,270,000, compared to a loss of HK$53,169,000 for the same period in 2022, representing a 52.6% improvement[140]. Investments and Projects - As of June 30, 2023, the Group's media investments and products amounted to approximately HK$343.5 million, down from approximately HK$374.9 million as of December 31, 2022, reflecting a decrease of about 8.4%[16]. - The movie "Crazy Rich Asians," co-invested by the Group, has achieved a worldwide gross of US$238.5 million since its release in August 2018[16]. - The international sales for the movie "Greta" are anticipated to be US$9.5 million, showcasing the Group's involvement in high-profile film projects[17]. - The Group has developed 44 feature projects, with 38 of them having completed scripts[48]. - The film "Midway," with a total budget of approximately US$100 million, exceeded US$30 million in overseas pre-sales during its pre-sales period[21]. - The film "Umma," produced by Sam Raimi, was released on March 15, 2022, and won the ReFrame Stamp award[39]. Operational Challenges - The Group's operating results have been negatively impacted by delays in distribution and income receipt from TV drama and film investments due to the COVID-19 pandemic[12]. - The Group continues to face challenges in revenue recognition and gross profit due to the slowdown of business activities and postponement of film and TV drama projects[12]. - The ongoing strikes by the Writers Guild of America and Screen Actors Guild-AFTRA are expected to adversely affect the development and distribution of media projects in the USA[66]. - The Group anticipates that the negative impacts from recent business slowdowns may continue to affect financial results in the coming years[67]. Strategic Initiatives - The appointment of new executives, including the Chief Technology Officer and Chief Operating Officer, aims to strengthen the management team and drive future growth[3][4]. - The Group is focused on expanding its media and culture business despite the ongoing challenges in the industry[12]. - The financial results reflect a strategic shift towards improving operational efficiency and reducing expenses while navigating a recovering market[12]. - The Group plans to utilize its Hollywood intellectual property resources to develop metaverse businesses and expand cross-border e-commerce operations in Hong Kong and Mainland China[68]. - A reseller service agreement was signed with Alibaba Cloud, allowing the Group to distribute various cloud computing products, which is expected to broaden the revenue base and increase investment returns[72]. Shareholder Information - The Group has not recommended any interim dividend for the six months ended June 30, 2023, consistent with the previous year[76][81]. - Major shareholders have provided financial resources, including an advance of HK$472,229,000 from a controlling shareholder in 2019, which has been fully repaid[85]. - As of June 30, 2023, Timcha Investment Limited holds 181,513,514 shares, representing approximately 22.04% of the issued share capital of the Company[112]. - Mega Start Limited owns 49,693,600 shares, accounting for approximately 6.03% of the issued share capital of the Company[112]. - The total number of issued shares of the Company as of June 30, 2023, is 823,564,799 shares[118]. Cash Flow and Liquidity - The Group's bank balances and cash amounted to approximately HK$52,873,000 as of June 30, 2023, down from HK$79,420,000 as of December 31, 2022[86][90]. - The current ratio as of June 30, 2023, was approximately 0.22, compared to 0.28 as of December 31, 2022, indicating a decline in liquidity[86][90]. - The company reported a net cash outflow from financing activities of HK$12,472,000, compared to HK$8,970,000 in the same period of 2022, representing a 39% increase in cash used[149]. - The net decrease in cash and cash equivalents for the period was HK$26,988,000, a significant improvement from HK$81,087,000 in the previous year, indicating a 67% reduction in cash outflow[149]. - Cash and cash equivalents at the end of the period stood at HK$52,873,000, down from HK$95,154,000 a year earlier, reflecting a 44% decrease[149].

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。 STARLIGHT CULTURE ENTERTAINMENT GROUP LIMITED 星光文化娛樂集團有限公司 （於百慕達註冊成立之有限公司） 1159 （股份代號： ） 截至二零二三年六月三十日止六個月 中期業績公告 中期業績 星光文化娛樂集團有限公司（「本公司」）董事（「董事」）會（「董事會」）依此呈列本公司 及其附屬公司（統稱「本集團」）截至二零二三年六月三十日止六個月之未經審核簡明 綜合中期業績，連同二零二二年同期之比較數字如下： ...

Financial Performance - Revenue from the media and culture business for 2022 was approximately HK$60.2 million, a decrease from HK$199.4 million in 2021, representing a decline of about 69.8%[15] - Gross profit for 2022 was approximately HK$4.0 million, compared to a gross loss of approximately HK$95.4 million in 2021[15] - The net loss attributable to owners of the Company for 2022 was approximately HK$135.9 million, significantly improved from a net loss of approximately HK$399.3 million in 2021[16] - Basic loss per share for 2022 was approximately 16.50 HK cents, down from approximately 48.48 HK cents in 2021[16] - The Group's net deficit was approximately HK$330.5 million for 2022, compared to approximately HK$189.0 million in 2021[16] - The Board does not recommend the payment of a final dividend for the year ended 31 December 2022[20] Impact of COVID-19 - The COVID-19 epidemic is expected to have a diminishing impact on the Group's media and culture business as restrictions are lifted[21] - The Group anticipates that it may take time for business activities to return to normal levels, with potential continued negative impacts on financial results in the coming years[22] - The Company anticipates that the media and culture business activities will gradually return to normal levels as COVID-19 restrictions are lifted[26][37] - The impact of COVID-19 has continued to affect the financial results, with business activities expected to resume to normal levels in the long term[91][92] Business Strategy and Development - The Company plans to leverage its existing Hollywood intellectual property to develop metaverse businesses and expand cross-border e-commerce operations in Hong Kong and Mainland China[27][37] - The Group is reviewing the future prospects of its other business segments while exploring new business opportunities in Mainland China[31][34] - The Group's strategy includes focusing on technology-driven growth and innovation to support its business recovery and expansion plans[27][37] - A reseller service agreement was signed with Alibaba Cloud, allowing the Group to distribute various cloud computing products, which is expected to broaden the revenue base in the future[97][98] - The Group aims to explore new business opportunities and enhance market opportunities in Mainland China to improve financial performance[99] Film Production and Projects - The Group's media investments and products, including movies and TV drama series, amounted to approximately HK$374.9 million as of 31 December 2022[40][43] - The movie "Midway" had a total investment budget of nearly $100 million and grossed over $30 million in overseas pre-sales outside of Greater China[49] - "Scary Stories to Tell in the Dark" was produced for $25 million and earned $21 million at the domestic box office in its opening weekend, with a worldwide gross of $104,545,505 to date[51][54] - "Malignant" grossed $126,696,475 worldwide and received an audience score of 92% on Rotten Tomatoes[50][53] - "Malignant" was released in theaters and on HBO Max simultaneously, showcasing a multi-platform distribution strategy[55] - "Malignant" received high praise from Stephen King, indicating strong audience interest and potential for future viewership[57][60] - The IMDb rating for "Malignant" is 6.3/10, while the Tomatometer score is 76%, reflecting a generally positive reception[58][61] - "Midway" is noted as Roland Emmerich's first World War II-themed film, highlighting a strategic expansion into historical narratives[49] - "Scary Stories to Tell in the Dark" is based on a bestselling series, indicating a focus on leveraging existing intellectual properties for new film projects[51] - The international sales agency for "Scary Stories to Tell in the Dark" is Sierra/Affinity, emphasizing the company's role in global distribution[54] - "Malignant" won the ReFrame Stamp for Best Feature at ReFrame 2022, showcasing recognition in the industry for its quality[59] - The Group has engaged 8 film directors to diversify and enhance its entertainment business, developing 44 feature projects, with 38 having completed scripts[70][72]. - The film "Umma," produced by Sam Raimi, was released on March 15, 2022, and won the ReFrame Stamp award, highlighting its unique blend of horror and Asian culture[64][67]. - "Marshall," acquired by the Group, received multiple nominations including an Oscar nomination for Best Original Song and won the Audience Choice Award at the Chicago International Film Festival[63][66]. - The Group plans to redirect films suitable for streaming platforms to allow for quicker cost recovery and increased visibility through widespread coverage[77]. - The Group is exploring various financing channels, including international sales and tax refunds, to support its film projects[77]. - The collaboration with A-list talents has led to the joint development of 12 projects, enhancing the Group's portfolio[76]. - The Group aims to retain copyright to establish a new ecosystem, converting part of the visual effects budget into investments[77]. - The film "My Robot Boyfriend" was first broadcast on October 21, 2019, showcasing the Group's engagement in urban love sci-fi comedies[65][68]. - The Group's commitment to film production and distribution is reinforced by its partnerships with renowned directors like James Wan and Roland Emmerich[71][73]. - The film "Umma" garnered significant interest from major studios, indicating its impact on the film industry upon release[64][67]. Corporate Governance - The Board consists of six Executive Directors and three Independent Non-executive Directors, ensuring a diverse leadership structure[143] - The Company complied with all applicable provisions of the Corporate Governance Code during the year ended December 31, 2022, with minor deviations noted[141] - Attendance records show that the Chairman missed one Annual General Meeting (AGM) out of one held, while other Executive Directors had varying attendance rates[147] - The Nomination Committee, established on March 28, 2012, is responsible for reviewing the Board's structure and recommending suitable candidates for directorship[160] - Independent Non-executive Directors confirmed their independence annually, in compliance with Rule 3.13 of the Listing Rules[144] - The Company has adopted a code of conduct for Directors' securities transactions, ensuring compliance throughout the year ended December 31, 2022[159] - Continuous professional development activities for Directors were confirmed through attendance at seminars or self-reading[158] - The Company has a nomination policy that considers professional qualifications, skills, and diversity when assessing candidates for the Board[162] - The Board has reserved decision-making on significant operational and financial matters, including corporate strategy and major acquisitions[150] - The Company encourages Directors to stay updated with legal and regulatory developments to fulfill their responsibilities effectively[156] Financial Oversight - The auditor's remuneration for the year ended December 31, 2022, is HK$2,000,000[178] - The Audit Committee held three meetings during the year ended December 31, 2022[179] - The Remuneration Committee held one meeting in 2022 to discuss remuneration-related matters[172] - The Company aims to maintain a diverse Board in terms of skills, experience, knowledge, and gender appropriate for business development[170] - The Company has established an Anti-money Laundering Committee responsible for reviewing policies and compliance[187] - The Investment Steering Committee is responsible for considering and recommending potential investment projects[194] - The Company has adopted a strict code of conduct for securities trading by directors, ensuring compliance with regulations[165] - The Remuneration Committee considers existing terms of employment contracts for executive and non-executive Directors to be fair and reasonable[177] - The Company has a Board Diversity Policy to promote diversity among Board members[173] - The Audit Committee is responsible for reviewing the Group's financial reporting process and internal control systems[182] - The Board is responsible for maintaining an adequate risk management and internal control system, reviewing its effectiveness annually to safeguard shareholders' interests and the Group's assets[196] - The risk management and internal control system aims to provide reasonable assurance in managing risks associated with achieving the Company's objectives[197] - The Investment Supervisory Committee was established in June 2010, consisting of two executive directors and three independent non-executive directors, responsible for considering and recommending potential investment projects[198]

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。 STARLIGHT CULTURE ENTERTAINMENT GROUP LIMITED 星光文化娛樂集團有限公司 （於百慕達註冊成立之有限公司） 1159 （股份代號： ） 截至二零二二年十二月三十一日止年度 經審核年度業績公告； 建議修訂組織章程大綱及細則；及 恢復買賣 經審核年度業績 星光文化娛樂集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此公佈其截至 二零二二年十二月三十一日止年度經審核年度業績（「經審核業績」），連同截至二零 二一年十二月三十一日止年度之相應比較數字，具體如下。 ...

Financial Performance - Revenue from the media and culture business for the six months ended June 30, 2022, was approximately HK$37.1 million, compared to approximately HK$1.4 million for the same period in 2021, representing a significant increase[23]. - The Group reported a net loss attributable to owners of approximately HK$53.2 million for the six months ended June 30, 2022, compared to a loss of approximately HK$42.4 million for the same period in 2021[23]. - Gross profit for the current period was approximately HK$2.1 million, compared to a gross loss of approximately HK$18.4 million for the corresponding period of 2021[55]. - Basic loss per share for the six months ended June 30, 2022, was approximately 6.46 HK cents, compared to approximately 5.15 HK cents for the same period in 2021[56]. - The loss before tax for the period was HK$53,249,000, compared to a loss of HK$42,479,000 in the same period of 2021, reflecting a worsening financial performance[110]. - The loss for the period attributable to owners of the parent was HK$53,221,000, compared to HK$42,430,000 in the previous year[110]. - The company reported other comprehensive loss of HK$1,319,000 for the period, compared to other comprehensive income of HK$2,096,000 in the previous year[113]. - The company reported a loss before tax of HK$53,249,000 for the six months ended June 30, 2022, compared to a loss of HK$42,479,000 in the same period of 2021[133]. - The Group reported a basic loss attributable to ordinary equity holders of HK$53,221,000 for the six months ended June 30, 2022, compared to a loss of HK$42,430,000 for the same period in 2021[183]. Assets and Liabilities - Net liabilities of the Group as of June 30, 2022, were approximately HK$245.4 million, an increase from approximately HK$190.9 million as of December 31, 2021[57]. - The current ratio as of June 30, 2022, was approximately 0.37, down from approximately 0.51 as of December 31, 2021[74]. - Total non-current assets increased to HK$323,276,000 from HK$259,861,000, representing a growth of approximately 24.4%[121]. - Total current assets decreased to HK$327,547,000 from HK$461,019,000, a decline of about 29.0%[121]. - Net current liabilities increased to HK$567,915,000 from HK$448,888,000, indicating a worsening financial position[124]. - The company's equity attributable to owners of the parent showed a deficiency of HK$244,381,000, worsening from HK$189,848,000[124]. - The total principal of remaining film investment loans due for repayment in 2023 is HK$78,094,000[200]. Investments and Projects - As of June 30, 2022, the Group's investments in movies and TV drama series amounted to approximately HK$418.4 million, up from approximately HK$387.5 million as of December 31, 2021[28]. - The Group's focus on media investments and projects is expected to drive future growth despite current challenges[22]. - The Group plans to allocate more resources to the media and culture segment, focusing on film and TV series investment and production as major growth drivers[64]. - The Group has engaged 8 film directors to diversify and enhance its entertainment business[50]. - The movie "Midway" had a total budget of approximately US$100 million and achieved over US$30 million in overseas pre-sales during the pre-sales period, excluding the Greater China area[33]. - "Midway" grossed US$126,696,475 worldwide, topping the North American box office in its opening week, and received an audience score of 92% on Rotten Tomatoes[34][37]. - The international sales of the movie "Greta" are anticipated to be US$9.5 million, indicating positive market reception[29]. COVID-19 Impact - The Group's media business has been affected by the COVID-19 pandemic, leading to postponed film and TV drama projects[22]. - The media business has been affected by the COVID-19 pandemic, leading to slowed business activities and postponed film and TV drama projects[54]. - The Group will continue to monitor the development of the COVID-19 situation and assess its impacts on financial position and operating results[24]. Shareholder Information - The company does not recommend any interim dividend for the six months ended June 30, 2022, consistent with the previous year[67]. - The Group did not declare or pay any interim dividends for the periods ended June 30, 2022, and 2021, maintaining a consistent policy[179]. - As of June 30, 2022, Timcha Investment Limited holds 181,513,514 shares, representing approximately 22.04% of the issued share capital of the Company[94]. - The total number of issued shares of the Company as of June 30, 2022, is 823,564,799 shares[95]. - Chau Chit holds 49,693,600 shares, representing approximately 6.03% of the issued share capital of the Company[94]. - The entire issued share capital of Mega Start Limited is wholly owned by Mr. Chau Chit, who is deemed to be interested in the shares of the Company[97]. - The Company has not granted any options under the New Share Option Scheme since its adoption[89]. Audit and Compliance - The audit committee, consisting of three independent non-executive Directors, reviewed the condensed consolidated financial statements for the six months ended June 30, 2022, and confirmed compliance with applicable accounting standards and legal requirements[99]. - The audit committee believes that adequate disclosures have been made in the financial statements[99]. - The company has complied with all applicable provisions of the Corporate Governance Code, with minor deviations noted regarding attendance at the annual general meeting[104].

Financial Performance - The Group reported a revenue of approximately HK$199.4 million for the year 2021, a significant increase from approximately HK$47.8 million in 2020[17]. - The net loss attributable to owners of the Company for 2021 was approximately HK$401.1 million, compared to a net loss of approximately HK$162.3 million in 2020[17]. - The recorded gross loss for 2021 was approximately HK$95.4 million, up from a gross loss of approximately HK$28.2 million in 2020[16]. - Basic loss per share for the year amounted to approximately 48.70 HK cents, compared to a loss per share of 19.70 HK cents in 2020[18]. - Net liabilities of the Group were approximately HK$190.87 million in 2021, compared to net assets of approximately HK$176.58 million in 2020[18]. - The Group recorded a gross loss of approximately HK$95.4 million for the year 2021, compared to a gross loss of approximately HK$28.2 million in 2020[21]. - The loss attributable to owners of the Company for FY2021 was approximately HK$401.1 million, up from approximately HK$162.3 million in FY2020[63]. - Basic loss per share for FY2021 was approximately 48.7 HK cents, compared to approximately 19.70 HK cents in FY2020[64]. - The cost of sales increased by approximately HK$218.8 million, from approximately HK$76.0 million in FY2020 to approximately HK$294.8 million in FY2021, mainly due to increased amortization from new film investments[70]. - Total impairment losses for the year amounted to approximately HK$288,636,000, including HK$55,229,000 on financial and contract assets, HK$80,223,000 on film investments, and HK$153,184,000 on prepayments and other assets[94]. Impact of COVID-19 - The media business was significantly affected by the COVID-19 pandemic, leading to delays in film and TV drama projects[15]. - The Group's operating results were negatively impacted due to delays in distribution and income receipt from TV drama and film investments[16]. - The Group's overall business activities slowed down due to the pandemic, affecting revenue generation[15]. - The media business has been adversely affected by the COVID-19 pandemic, leading to delays in film and TV drama projects[60]. - The Group will continue to monitor the COVID-19 situation and assess its impacts on financial performance[34]. Business Strategy and Future Plans - The Group aims to recover trade receivables of gross carrying amount of HK$114.6 million as of 31 December 2021 to improve its financial position[25]. - The Group plans to allocate more resources to the media and culture segment, which is a major growth driver, focusing on film and TV series investment and production[25]. - The Group is exploring new business opportunities and market expansion in Mainland China to enhance shareholder returns[26]. - The Group engaged 8 film directors to diversify and enhance its entertainment business, aiming to broaden income sources[58]. Shareholder and Dividend Information - The Board does not recommend the payment of a final dividend for the year ended 31 December 2021[19]. - The Board does not recommend the payment of a final dividend for the year ended 31 December 2021, consistent with the previous year[91]. Film and Media Performance - The movie "Malignant" grossed a worldwide total of $126,696,475, achieving North American box office champion status in its opening week[44]. - "Malignant" was produced with a budget of $25 million and earned $21 million at the domestic box office during its opening weekend[45]. - The film received a 92% audience score on Rotten Tomatoes, indicating strong positive reception among viewers[44]. - "Malignant" has an IMDb rating of 6.3/10 and a Tomatometer score of 76%[47]. - The film won the ReFrame Stamp for Best Feature at ReFrame 2022 and received multiple nominations at various film awards[48]. Financial Position and Liabilities - The Group's net debt amounted to approximately HK$190.9 million as of 31 December 2021, compared to a net asset value of approximately HK$176.6 million in 2020[21]. - As at 31 December 2021, the Company's capital deficiency was approximately HK$189,848,000, compared to equity attributable to its owners of approximately HK$202,548,000 in 2020[93]. - Financial liabilities at fair value through profit or loss increased by approximately HK$192,023,000 from nil as at 31 December 2020 to approximately HK$192,023,000 as at 31 December 2021, attributed to co-investment agreements with investors in film production projects[81]. Corporate Governance and Committees - The Company's external auditors, Ernst & Young, received an auditor's remuneration of HK$3,068,000 for the year ended 31 December 2021, an increase from HK$2,446,000 in 2020[168]. - The Nomination Committee held 2 meetings during the year ended 31 December 2021[158]. - The Remuneration Committee conducted one meeting in 2021 to discuss remuneration-related matters[166]. - The Company has adopted a Board Diversity Policy to ensure a diverse composition of Directors in terms of skills, experience, knowledge, and gender[160]. - The Directors confirmed their participation in continuous professional development activities during the year[151]. - The Company has established a code of conduct for Directors' securities transactions, which has been complied with throughout the year ended 31 December 2021[152]. - The Audit Committee held 3 meetings during the year ended December 31, 2021, to review the Group's financial reporting and internal control systems[172]. - The Audit Committee confirmed that the consolidated results for the year ended December 31, 2021, complied with applicable accounting standards and legal requirements[173]. Risk Management - The Group's risk management and internal control system aims to provide reasonable assurance in achieving the Company's objectives and safeguarding shareholders' interests[191]. - The Group employs a three-line defense risk management model to identify, assess, mitigate, and manage risks effectively[195]. - The risk management process includes identifying risks, assessing their impact, and determining management strategies to mitigate them[198]. - The Anti-money Laundering Committee is responsible for reviewing and monitoring the Company's anti-money laundering policies and procedures[178].

Financial Performance - The company reported a revenue of HKD 199,386,000 for the year ended December 31, 2021, compared to HKD 47,761,000 in 2020, representing a significant increase of 317%[3] - The cost of sales increased to HKD 294,778,000 in 2021 from HKD 75,997,000 in 2020, leading to a gross loss of HKD 95,392,000[3] - The company incurred a net loss of HKD 401,139,000 for the year 2021, compared to a net loss of HKD 162,408,000 in 2020, indicating a worsening of 147%[7] - The company reported a basic and diluted loss per share of HKD 48.70 for the year 2021, compared to HKD 19.70 in 2020[5] - The group reported a total comprehensive loss for the year of HKD 392,452,000 in 2021, compared to HKD 153,877,000 in 2020, reflecting an increase of 155%[14] - The group recorded a pre-tax loss from continuing operations of HKD 288,636,000 in 2021, compared to HKD 90,436,000 in 2020, indicating an increase in losses of approximately 219%[59] - The group’s total sales costs in 2021 were HKD 294,778,000, up from HKD 75,997,000 in 2020, representing an increase of approximately 287%[59] - The company reported a net loss attributable to shareholders of approximately HKD 401.1 million for the year ended December 31, 2021, compared to a net loss of approximately HKD 162.3 million in 2020[90] Assets and Liabilities - The total assets decreased to HKD 720,880,000 in 2021 from HKD 1,018,457,000 in 2020, reflecting a decline of 29.3%[19] - Current liabilities increased significantly to HKD 909,907,000 in 2021 from HKD 497,876,000 in 2020, an increase of 83%[19] - The group reported a net asset deficiency of HKD 190,867,000[26] - Total liabilities exceeded total assets by HKD 190,867,000 as of December 31, 2021[145] - The company’s equity attributable to owners was reported at HKD 82,356,000, with reserves showing a deficit of HKD 189,848,000[139] - The current ratio as of December 31, 2021, was approximately 0.51, down from 2.03 in 2020, with current assets of approximately HKD 461.0 million and current liabilities of approximately HKD 909.9 million[120] Cash Flow and Liquidity - Cash and cash equivalents as of December 31, 2021, were HKD 157,105,000, indicating significant liquidity concerns[26] - The group has negotiated deferral agreements with lenders for approximately HKD 332,920,000 in loans, extending repayment deadlines to June 2023[27] - The group plans to withdraw a prepayment investment of HKD 63,181,000 to manage cash flow and prioritize film investment expenditures[29] - The company has entered into agreements with lenders to extend repayment dates and alleviate liquidity issues[88] - The company has prepared cash flow forecasts for the 18 months ending June 30, 2023, to assess its ability to continue as a going concern[147] Impairments and Provisions - The company recorded a financial and contract asset impairment loss of HKD 55,229,000 in 2021, down from HKD 90,436,000 in 2020, showing an improvement of 38.9%[3] - The group recognized a film investment impairment of HKD 80,223,000 in 2021, which was not present in 2020[59] - The impairment loss provision for trade receivables increased to HKD 80,910,000 in 2021 from HKD 71,631,000 in 2020, reflecting a loss of HKD 6,823,000 recognized during the year[78] Business Operations and Strategy - Management is closely monitoring the impact of COVID-19 on the film and cinema industry, which has significantly affected the group's operations[30] - The group is in discussions with film financing parties to secure new funding sources, leveraging its track record in film investment[27] - The group plans to allocate more resources to the media and cultural segment, which is seen as the main growth driver, focusing on film and television production and investment[111] - The company is focused on expanding its media and cultural business despite the challenges posed by the pandemic[90] Taxation - The company did not incur any taxable profits in Hong Kong for the years ended December 31, 2021, and December 31, 2020, resulting in no provision for Hong Kong profits tax[62] - The income tax provision for the group includes taxes levied in mainland China and the United States, with a statutory tax rate of 25% in China and a combined federal and state tax rate of 28% in the U.S.[62] - The total tax expense from continuing operations for the year ended December 31, 2021, was a loss of HKD 15,550,000 compared to a gain of HKD 11,785,000 in 2020[63] Corporate Governance - The company has complied with all applicable provisions of the corporate governance code, except for certain deviations regarding attendance at the annual general meeting[127][128] - The audit committee has confirmed that the financial statements comply with applicable accounting standards and regulations[140]