本月底法定/註冊股本總額： USD 500,000 FF301 第 1 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: 2025年8月31日 | | --- | | 狀態: 新提交 | 致：香港交易及結算所有限公司 公司名稱: 虎視傳媒有限公司 呈交日期: 2025年9月3日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01163 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0005 | USD | | 500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | ...

Core Viewpoint - Tiger Media (01163) reported a revenue of 154 million RMB for the six months ending June 30, 2025, representing an 18.1% year-on-year increase [1] - The company achieved a profit of 1.787 million RMB during the period, marking a turnaround from a loss to profitability [1] - Basic earnings per share were reported at 0.02 RMB [1] Financial Performance - Revenue for the period was 154 million RMB, up 18.1% compared to the previous year [1] - The company recorded a profit of 1.787 million RMB, indicating a recovery from previous losses [1] - Basic earnings per share stood at 0.02 RMB [1]

Core Viewpoint - Tiger Media (01163) reported a revenue of 154 million RMB for the six months ending June 30, 2025, representing an 18.1% year-on-year increase [1] Financial Performance - The company achieved a profit of 1.787 million RMB during the period, marking a turnaround from a loss to profitability [1] - Basic earnings per share were reported at 0.02 RMB [1]

[Financial Summary](index=1&type=section&id=Financial%20Summary) The company achieved revenue growth and a profit turnaround for the six months ended June 30, 2025, with no interim dividend declared Financial Summary for the Six Months Ended June 30 | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | Period Change (%) | | :--- | :--- | :--- | :--- | | Revenue | 154,376 | 130,666 | 18.1 | | Gross Profit | 22,875 | 20,835 | 9.8 | | Profit/(Loss) for the Period | 1,787 | (4,640) | 138.5 | - The Board has resolved not to declare any interim dividend for the reporting period (prior period: nil)[6](index=6&type=chunk) [Management Discussion and Analysis](index=2&type=section&id=Management%20Discussion%20and%20Analysis) This section provides an overview of the company's business, financial performance, employee policies, liquidity, key relationships, cash flow, debt, financial ratios, and market risks [Business Review](index=2&type=section&id=Business%20Review) As an online advertising platform, the company focuses on providing overseas online advertising services to Chinese advertisers, expanding media coverage and technological innovation, particularly in AI-driven video generation and marketing strategies, with an increase in advertiser numbers - The company is positioned as an online advertising platform, providing overseas online advertising services to Chinese advertisers, covering top media publishers such as Meta, Google, and TikTok[7](index=7&type=chunk) - As of June 30, 2025, the number of advertisers reached **1,498**, an increase from **1,332** as of December 31, 2024[10](index=10&type=chunk) - The company continues to strengthen the computing infrastructure of its AdTensor platform, deploying industry-leading text-to-video (T2V) and image-to-video (I2V) technologies, and utilizing AI algorithms for intelligent insights and multimodal innovation[11](index=11&type=chunk)[12](index=12&type=chunk) [Financial Review](index=5&type=section&id=Financial%20Review) During the reporting period, the company's revenue grew by **18.1%**, primarily due to favorable pricing policies and expanded market share; cost of sales increased with business growth, and gross profit margin slightly decreased; the company turned profitable, mainly influenced by increased foreign exchange gains and reduced administrative expenses Revenue Breakdown (by Pricing Model) | Pricing Model | 2025 (RMB thousands) | 2025 (%) | 2024 (RMB thousands) | 2024 (%) | | :--- | :--- | :--- | :--- | :--- | | CPA Pricing Model — Designated Action Revenue | 135,171 | 87.6 | 112,900 | 86.4 | | CPC/CPM Pricing Model — Designated Action Revenue | 7,113 | 4.6 | 2,787 | 2.1 | | CPC/CPM Pricing Model — Agreed Rebates | 12,092 | 7.8 | 14,979 | 11.5 | | Subtotal (CPC/CPM) | 19,205 | 12.4 | 17,766 | 13.6 | | Total | 154,376 | 100.0 | 130,666 | 100.0 | Revenue Breakdown (by Advertising Type) | Advertising Type | 2025 (RMB thousands) | 2025 (%) | 2024 (RMB thousands) | 2024 (%) | | :--- | :--- | :--- | :--- | :--- | | Financial | 58,202 | 37.7 | 33,316 | 25.5 | | E-commerce | 48,625 | 31.5 | 56,764 | 43.4 | | Utility Tools and Content App Developers | 38,432 | 24.9 | 31,455 | 24.1 | | Education | 5,026 | 3.3 | 3,134 | 2.4 | | Others | 4,091 | 2.6 | 5,997 | 4.6 | | Total | 154,376 | 100.0 | 130,666 | 100.0 | - Total revenue increased by approximately **RMB23.7 million** or **18.1%** from approximately **RMB130.7 million** in the prior period to approximately **RMB154.4 million** in the reporting period, primarily due to the company offering more favorable pricing policies to advertisers, encouraging increased advertising spend and expanding market share[16](index=16&type=chunk) Cost of Sales Breakdown | Cost of Sales Item | 2025 (RMB thousands) | 2025 (%) | 2024 (RMB thousands) | 2024 (%) | | :--- | :--- | :--- | :--- | :--- | | Traffic Acquisition Cost - Facebook | 51,649 | 39.2 | 27,963 | 25.4 | | Traffic Acquisition Cost - Google | 48,617 | 37.0 | 36,702 | 33.4 | | Traffic Acquisition Cost - TikTok | 23,509 | 17.9 | 38,515 | 35.1 | | Traffic Acquisition Cost - Others | 2,361 | 1.8 | 2,148 | 2.0 | | Subtotal (Traffic Acquisition Cost) | 126,136 | 95.9 | 105,328 | 95.9 | | Expenses for External Optimizers and Designers | 1,878 | 1.4 | 1,999 | 1.8 | | Salaries and Benefits Paid to Internal Optimizers and Designers | 3,487 | 2.7 | 2,504 | 2.3 | | Total | 131,501 | 100.0 | 109,831 | 100.0 | - Total cost of sales increased by approximately **RMB21.7 million** or **19.8%** from approximately **RMB109.8 million** in the prior period to approximately **RMB131.5 million** in the reporting period, primarily due to increased traffic acquisition costs from purchasing advertising slots in the financial industry and an increase in the number of optimizers and designers employed to enhance service capabilities[18](index=18&type=chunk) Total Gross Profit and Gross Profit Margin | Metric | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Total Revenue | 154,376 | 130,666 | | Total Cost of Sales | 131,501 | 109,831 | | Total Gross Profit | 22,875 | 20,835 | | Total Gross Profit Margin | 14.8% | 15.9% | - The company recorded a profit of approximately **RMB1.8 million** in the reporting period, compared to a loss of approximately **RMB4.6 million** in the prior period, achieving a turnaround to profitability[25](index=25&type=chunk) [Employees and Remuneration Policy](index=9&type=section&id=Employees%20and%20Remuneration%20Policy) As of June 30, 2025, the company had **177** employees, with optimizers and designers accounting for the largest proportion; the company offers competitive remuneration and benefits, along with share option and share award schemes to incentivize employees Employee Breakdown (by Function) | Function | Number of Employees | % of Total | | :--- | :--- | :--- | | Optimizers and Designers | 71 | 40.1 | | Sales and Marketing | 30 | 16.9 | | Operations | 24 | 13.6 | | Finance and Administration | 48 | 27.1 | | IT and R&D | 4 | 2.3 | | Total | 177 | 100.0 | - During the reporting period, the Group's total staff costs were approximately **RMB17.2 million**, offering competitive salaries, performance bonuses, housing allowances, team-building activities, and training opportunities[26](index=26&type=chunk) - The company has adopted a post-IPO share option scheme and a share award scheme to incentivize and reward eligible individuals for their contributions to the Group[27](index=27&type=chunk)[28](index=28&type=chunk) [Liquidity, Financial and Capital Resources](index=11&type=section&id=Liquidity%2C%20Financial%20and%20Capital%20Resources) The company maintains a prudent financial management approach, with a slight increase in cash and cash equivalents, and no significant contingent liabilities, capital commitments, asset pledges, or interest-bearing bank borrowings - As of June 30, 2025, cash and cash equivalents increased by approximately **RMB3.2 million** from approximately **RMB395.1 million** as of December 31, 2024, to approximately **RMB398.3 million**[30](index=30&type=chunk) - As of June 30, 2025, the Group had no significant contingent liabilities, capital commitments, or asset pledges, nor any interest-bearing bank borrowings[29](index=29&type=chunk)[32](index=32&type=chunk)[33](index=33&type=chunk) [Major Customers and Suppliers](index=12&type=section&id=Major%20Customers%20and%20Suppliers) The company has a high dependency on its top five customers and suppliers, with the contribution ratios of both the largest customer and supplier increasing - For the six months ended June 30, 2025, the company's top five customers accounted for **72.8%** of revenue, with the largest customer accounting for **53.3%**[34](index=34&type=chunk) - For the six months ended June 30, 2025, the company's top five suppliers accounted for **93.8%** of total cost of sales, with the largest supplier accounting for **36.6%**[35](index=35&type=chunk) [Cash Flow](index=12&type=section&id=Cash%20Flow) During the reporting period, net cash outflow from operating activities decreased, and net cash inflow from financing activities increased, leading to a net increase in cash and cash equivalents Summary of Condensed Consolidated Cash Flow Statement | Cash Flow Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Net Cash Flows Used in Operating Activities | (6,287) | (19,217) | | Net Cash Flows (Used in)/Generated from Investing Activities | (45) | 45,658 | | Net Cash Flows Generated from/(Used in) Financing Activities | 11,667 | (1,219) | | Net Increase in Cash and Cash Equivalents | 5,335 | 25,222 | | Cash and Cash Equivalents at Beginning of Period | 395,103 | 358,466 | | Cash and Cash Equivalents at End of Period | 398,326 | 384,560 | [Indebtedness](index=13&type=section&id=Indebtedness) As of June 30, 2025, the company had no bank financing, outstanding debt securities, or other borrowed capital, with a slight increase in total lease liabilities - As of June 30, 2025, the company had not applied for or obtained any bank financing, nor did it have any outstanding debt securities, mortgages, pledges, debentures, or other borrowed capital; total lease liabilities were approximately **RMB1.9 million**[37](index=37&type=chunk) [Certain Financial Ratios](index=13&type=section&id=Certain%20Financial%20Ratios) During the reporting period, the company's return on equity and return on total assets turned positive, while current ratio and gross profit margin showed slight changes Certain Financial Ratios | Financial Ratio | As of June 30, 2025 | As of December 31, 2024 | | :--- | :--- | :--- | | Return on Equity | 1.7% | -2.5% | | Return on Total Assets | 0.5% | -0.7% | | Current Ratio | 1.4 | 1.3 | | Gearing Ratio | — | — | | Gross Profit Margin | 14.8% | 17.7% | [Financial and Market Risks](index=14&type=section&id=Financial%20and%20Market%20Risks) The company faces foreign currency, credit, and liquidity risks, employing prudent risk management policies, without using derivative financial instruments to hedge foreign currency risk, and assessing and monitoring credit risk - The company faces various financial and market risks, including foreign currency risk (RMB, USD, and other currencies), credit risk, and liquidity risk, and has established financial management policies and practices to manage these risks[39](index=39&type=chunk)[40](index=40&type=chunk)[41](index=41&type=chunk)[42](index=42&type=chunk) [Interim Condensed Consolidated Financial Statements](index=15&type=section&id=Interim%20Condensed%20Consolidated%20Financial%20Statements) This section presents the interim condensed consolidated statement of profit or loss, comprehensive income, and financial position [Interim Condensed Consolidated Statement of Profit or Loss](index=15&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Profit%20or%20Loss) For the six months ended June 30, 2025, the company achieved revenue of **RMB154,376 thousand** and a profit for the period of **RMB1,787 thousand**, a significant improvement compared to the loss in the prior year Summary of Interim Condensed Consolidated Statement of Profit or Loss | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 154,376 | 130,666 | | Cost of Sales | (131,501) | (109,831) | | Gross Profit | 22,875 | 20,835 | | Other Income and Gains | 7,622 | 3,688 | | Selling and Distribution Expenses | (5,148) | (4,573) | | Administrative Expenses | (20,980) | (22,708) | | Net Impairment Loss on Financial Assets | (838) | (1,122) | | Other Expenses | (1,121) | (1,914) | | Finance Costs | (38) | (39) | | Profit/(Loss) Before Tax | 2,372 | (6,136) | | Income Tax (Expense)/Credit | (585) | 1,496 | | Profit/(Loss) for the Period | 1,787 | (4,640) | - Basic and diluted earnings per share attributable to owners of the parent were **RMB0.2 cents** (2024: loss of **RMB0.6 cents**)[43](index=43&type=chunk) [Interim Condensed Consolidated Statement of Comprehensive Income](index=16&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Comprehensive%20Income) During the reporting period, the company's total comprehensive loss was **RMB285 thousand**, primarily impacted by exchange differences on overseas operations Summary of Interim Condensed Consolidated Statement of Comprehensive Income | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Profit/(Loss) for the Period | 1,787 | (4,640) | | Exchange Differences on Translation of Overseas Operations | (2,641) | 22 | | Exchange Differences on Translation of the Company's Financial Statements | 569 | 814 | | Other Comprehensive (Loss)/Income for the Period, Net of Tax | (2,072) | 836 | | Total Comprehensive Loss for the Period | (285) | (3,804) | [Interim Condensed Consolidated Statement of Financial Position](index=17&type=section&id=Interim%20Condensed%20Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2025, the company's total assets and net assets both increased, with a rise in net current assets, reflecting a stable financial position Summary of Interim Condensed Consolidated Statement of Financial Position | Item | As of June 30, 2025 (RMB thousands) | As of December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | **Non-current Assets** | | | | Property, Plant and Equipment | 195 | 189 | | Right-of-use Assets | 1,794 | 1,564 | | Deferred Tax Assets | 7,811 | 6,805 | | Financial Assets at Fair Value Through Profit or Loss | 7,916 | 8,661 | | **Total Non-current Assets** | **17,716** | **17,219** | | **Current Assets** | | | | Trade Receivables | 253,592 | 227,049 | | Prepayments, Other Receivables and Other Assets | 7,574 | 13,326 | | Cash and Cash Equivalents | 398,326 | 395,103 | | Financial Assets at Fair Value Through Profit or Loss | 57,209 | 56,621 | | **Total Current Assets** | **716,701** | **692,099** | | **Current Liabilities** | | | | Trade Payables | 432,316 | 428,409 | | Other Payables and Accruals | 91,630 | 81,261 | | Tax Payable | 1,566 | 3,108 | | Lease Liabilities | 1,362 | 1,242 | | **Total Current Liabilities** | **526,874** | **514,020** | | **Net Current Assets** | **189,827** | **178,079** | | **Total Assets Less Current Liabilities** | **207,543** | **195,298** | | **Non-current Liabilities** | | | | Lease Liabilities | 561 | 169 | | **Total Non-current Liabilities** | **561** | **169** | | **Net Assets** | **206,982** | **195,129** | | **Total Equity** | **206,982** | **195,129** | [Notes to the Interim Condensed Consolidated Financial Information](index=19&type=section&id=Notes%20to%20the%20Interim%20Condensed%20Consolidated%20Financial%20Information) This section provides detailed notes on company information, accounting policies, segment data, revenue, profit before tax, income tax, dividends, EPS, receivables, payables, and post-reporting events [Company Information](index=19&type=section&id=Company%20Information) The company was incorporated in the Cayman Islands as an investment holding company, with its subsidiaries engaged in providing online advertising services in China and internationally - The company was incorporated as a limited liability company in the Cayman Islands on February 1, 2019, primarily engaged in providing online advertising services[48](index=48&type=chunk) [Basis of Preparation and Changes in Accounting Policies](index=19&type=section&id=Basis%20of%20Preparation%20and%20Changes%20in%20Accounting%20Policies) The interim financial information is prepared in accordance with HKAS 34, with accounting policies consistent with the prior year, except for the initial adoption of HKAS 21 amendments 'Lack of Exchangeability', which had no material impact on the Group - The interim condensed consolidated financial information has been prepared in accordance with Hong Kong Accounting Standard 34 Interim Financial Reporting, with accounting policies consistent with those adopted for the preparation of the Group's annual consolidated financial statements for the year ended December 31, 2024[49](index=49&type=chunk)[50](index=50&type=chunk) - The initial adoption of HKAS 21 amendments 'Lack of Exchangeability' had no impact on the interim condensed consolidated financial information, as all the Group's transaction currencies are exchangeable[51](index=51&type=chunk) [Segment Information](index=20&type=section&id=Segment%20Information) The company operates in a single operating segment, providing online advertising services; geographically, Hong Kong market contribution significantly increased, while mainland China market revenue decreased - The Group did not present segment information during the period, with revenue and reported results derived from a single operating segment, which is the provision of online advertising services[52](index=52&type=chunk) Revenue by Country/Jurisdiction of Registration of External Customers | Country/Jurisdiction | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Hong Kong | 87,653 | 42,307 | | Mainland China | 30,876 | 63,035 | | Singapore | 16,377 | 9,559 | | Indonesia | 12,980 | 2,572 | | Other Countries | 6,490 | 13,193 | | Total | 154,376 | 130,666 | Information About Major Customers | Customer | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Customer A | 82,298 | 32,103 | | Customer B | 10,490 | Not Applicable* | | * Less than 10% of the Group's total revenue. | | | [Revenue, Other Income and Gains](index=21&type=section&id=Revenue%2C%20Other%20Income%20and%20Gains) Revenue primarily derives from customer contracts, including designated action revenue and agreed rebates; other income and gains mainly consist of bank interest and foreign exchange gains Analysis of Revenue, Other Income and Gains | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue from Customer Contracts - Designated Action Revenue | 142,284 | 115,687 | | Revenue from Customer Contracts - Agreed Rebates | 12,092 | 14,979 | | Total Revenue | 154,376 | 130,666 | | Other Income and Gains - Others | 7,622 | 3,688 | - Revenue from online advertising services is recognized at a point in time[56](index=56&type=chunk) [Profit/(Loss) Before Tax](index=22&type=section&id=Profit%2F%28Loss%29%20Before%20Tax) Profit before tax turned from a loss to a profit compared to the prior year, mainly influenced by cost of services, bank interest income, exchange differences, and employee benefit expenses Profit/(Loss) Before Tax is Arrived at After Charging/(Crediting) the Following | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Cost of Services Provided | 128,014 | 107,328 | | Bank Interest Income | (3,011) | (2,456) | | Depreciation of Property, Plant and Equipment | 82 | 120 | | Depreciation of Right-of-use Assets | 715 | 1,199 | | Impairment Provision for Trade Receivables | 838 | 1,122 | | Lease Payments Not Included in the Measurement of Lease Liabilities | 53 | 1,158 | | Auditor's Remuneration | 700 | 700 | | Employee Benefit Expense (Including Directors' Emoluments) | 17,166 | 17,415 | | Net Exchange Differences | (2,729) | 1,848 | | Net Fair Value Loss/(Gain) on Financial Assets at Fair Value Through Profit or Loss | 157 | (290) | [Income Tax](index=22&type=section&id=Income%20Tax) The company pays income tax at applicable rates in different jurisdictions, with an income tax expense of **RMB585 thousand** during the reporting period - The company pays income tax at a rate of **16.5%** (or **8.25%**) in Hong Kong and **25%** in Mainland China, while companies registered in the Cayman Islands are exempt from income tax[59](index=59&type=chunk)[60](index=60&type=chunk) Income Tax Breakdown | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Current — Hong Kong | 1,077 | 259 | | Deferred | (492) | (1,755) | | Total | 585 | (1,496) | [Dividends](index=23&type=section&id=Dividends) No dividends were paid or declared by the company during the reporting period - The company did not pay or declare any dividends during the period[62](index=62&type=chunk) [Earnings/(Loss) Per Share Attributable to Owners of the Parent](index=23&type=section&id=Earnings%2F%28Loss%29%20Per%20Share%20Attributable%20to%20Owners%20of%20the%20Parent) Basic and diluted earnings per share were **RMB0.2 cents**, compared to a loss of **RMB0.6 cents** in the prior period, reflecting improved profitability - Basic and diluted earnings per share were **RMB0.2 cents** (2024: loss of **RMB0.6 cents**), calculated based on the profit/(loss) for the period attributable to owners of the parent and the weighted average number of ordinary shares outstanding[63](index=63&type=chunk) Calculation of Basic and Diluted Earnings Per Share is Based On | Item | 2025 (RMB thousands) | 2024 (RMB thousands) | | :--- | :--- | :--- | | Profit/(Loss) for the Period Attributable to Owners of the Parent Used for Calculating Basic and Diluted Earnings/(Loss) Per Share | 1,787 | (4,397) | | Weighted Average Number of Ordinary Shares Outstanding During the Period Used for Calculating Basic and Diluted Earnings Per Share | 881,950,753 | 741,965,000 | [Trade Receivables](index=24&type=section&id=Trade%20Receivables) Total trade receivables increased, primarily concentrated in aging periods of within 1 month and 1 to 3 months Aging Analysis of Trade Receivables | Aging | As of June 30, 2025 (RMB thousands) | As of December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 month | 187,390 | 170,182 | | 1 to 3 months | 65,754 | 54,660 | | 3 to 12 months | 448 | 2,207 | | Total | 253,592 | 227,049 | [Trade Payables](index=24&type=section&id=Trade%20Payables) Total trade payables slightly increased, primarily settled within 1 year Aging Analysis of Trade Payables | Aging | As of June 30, 2025 (RMB thousands) | As of December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Within 1 year | 432,316 | 428,409 | - Trade payables are non-interest-bearing and generally settled within **60 days**[69](index=69&type=chunk) [Events After the Reporting Period](index=24&type=section&id=Events%20After%20the%20Reporting%20Period) No significant events occurred after the reporting period, except as disclosed in this announcement - There were no significant events after the reporting period[70](index=70&type=chunk) [Future Outlook](index=25&type=section&id=Future%20Outlook) The company plans to focus on data-driven transformation, cross-industry collaboration, international market expansion, AI technology integration, and sustainable development - The company will continue to strengthen data collection, analysis, and application, accelerating a comprehensive transformation from experience-driven to data-driven decision-making, maximizing advertising effectiveness through AdTensor's real-time data analysis tools[72](index=72&type=chunk) - The company will place greater emphasis on cross-industry collaboration and ecosystem building, actively establishing close partnerships with content creators, technology providers, and media platforms to jointly explore new marketing models and growth points[73](index=73&type=chunk) - The company will actively expand into international markets, strengthen its global presence, and deeply research cultural, legal, and consumer habit differences across various countries and regions to formulate marketing strategies that meet local market demands[74](index=74&type=chunk) - AI technology will be the company's core competitiveness; it will strengthen the implementation of AI technology, deeply cultivate areas such as large video models, digital human technology, and virtual shooting, and actively explore the commercialization and business model innovation of AI technology[75](index=75&type=chunk) - The company will undertake sustainable development and social responsibility, focusing on promoting green marketing and environmentally friendly advertising, and actively participating in social welfare activities[76](index=76&type=chunk) [Corporate Governance and Other Information](index=26&type=section&id=Corporate%20Governance%20and%20Other%20Information) This section covers listed securities transactions, corporate governance code compliance, directors' securities trading, audit committee review, use of placing proceeds, subsequent events, interim dividends, and report publication [Purchase, Sale or Redemption of the Company's Listed Securities](index=26&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20the%20Company%27s%20Listed%20Securities) During the reporting period, neither the company nor its subsidiaries purchased, sold, or redeemed any listed securities, nor did they hold any treasury shares - During the reporting period, the company did not redeem any of its listed securities, nor did the company or any of its subsidiaries purchase or sell such securities, and as of June 30, 2025, no treasury shares were held as required by the Listing Rules[77](index=77&type=chunk)[78](index=78&type=chunk) [Corporate Governance Code](index=27&type=section&id=Corporate%20Governance%20Code) The company has adopted the Corporate Governance Code and complies with all mandatory disclosure requirements, though the roles of Chairman and Chief Executive Officer are combined, which the Board believes contributes to efficient decision-making - The company has adopted the Corporate Governance Code and complies with all mandatory disclosure requirements, except that the roles of Chairman and Chief Executive Officer are combined and held by Ms. Chang Su Fang, which the Board believes provides strong and consistent leadership to the company[79](index=79&type=chunk) [Standard Code for Securities Transactions by Directors](index=27&type=section&id=Standard%20Code%20for%20Securities%20Transactions%20by%20Directors) The company has adopted the Standard Code, and all directors confirmed their compliance with it during the reporting period - The company has adopted the Standard Code, and all directors have confirmed their compliance with the Standard Code during the reporting period[80](index=80&type=chunk) [Audit Committee](index=27&type=section&id=Audit%20Committee) The Audit Committee has reviewed the interim financial statements and deemed them compliant with applicable Listing Rules; the financial information has been reviewed by Ernst & Young - The Audit Committee has reviewed the Group's unaudited condensed consolidated financial statements for the reporting period and considers them to have been prepared in compliance with the applicable Listing Rules; the financial information has been reviewed by the company's auditor, Ernst & Young[81](index=81&type=chunk)[82](index=82&type=chunk) [Use of Proceeds from Placing of New Shares](index=28&type=section&id=Use%20of%20Proceeds%20from%20Placing%20of%20New%20Shares) The company disclosed the use of proceeds from two placings of new shares in 2023 and 2025; the 2023 placing proceeds were for strengthening AI capabilities and general working capital, with some uses deferred; the 2025 placing proceeds were partially used for working capital [2023 Placing](index=28&type=section&id=2023%20Placing) Details of the 2023 placing proceeds, intended for AI capabilities and general working capital, with a revised timeline for remaining funds - The net proceeds from the 2023 Placing were approximately **HKD12,818,520**, which the Directors intend to use for strengthening and improving the Group's AdTensor platform services and general working capital[83](index=83&type=chunk) Breakdown of Use of Net Proceeds from 2023 Placing | Planned Use | Approximate Percentage of Total Net Proceeds (%) | Actual Net Proceeds (HKD millions) | Unutilized Net Proceeds as of January 1, 2025 (HKD millions) | Actual Use of Net Proceeds for the Six Months Ended June 30, 2025 (HKD millions) | Unutilized Net Proceeds as of June 30, 2025 (HKD millions) | Expected Timeline for Utilizing Remaining Net Proceeds from 2023 Placing | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Strengthening big data, machine learning, and AI capabilities; and improving the Group's AdTensor platform services | 70 | 9.0 | 4.1 | 3.4 | 0.7 | Before December 31, 2025 | | Supplementing the Group's operations and general working capital | 30 | 3.8 | — | — | — | | - Due to the rapid development of AI technology, the expected timeline for utilizing the remaining balance of net proceeds from the 2023 Placing has been deferred from before December 31, 2024, to before December 31, 2025[84](index=84&type=chunk) [2025 Placing](index=29&type=section&id=2025%20Placing) Details of the 2025 placing proceeds, intended for AI capabilities and general working capital, with partial utilization for working capital - The net proceeds from the 2025 Placing were approximately **HKD13,121,540**, which the Directors intend to use for strengthening and improving the Group's AdTensor platform services and general working capital[85](index=85&type=chunk) Breakdown of Use of Net Proceeds from 2025 Placing | Planned Use | Approximate Percentage of Total Net Proceeds (%) | Planned Use of Net Proceeds (HKD millions) | Unutilized Net Proceeds as of January 1, 2025 (HKD millions) | Actual Use of Proceeds for the Six Months Ended June 30, 2025 (HKD millions) | Unutilized Net Proceeds as of June 30, 2025 (HKD millions) | Expected Timeline for Utilizing Remaining Net Proceeds from 2025 Placing | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Strengthening big data, machine learning, and AI capabilities; and improving the Group's AdTensor platform services | 70 | 9.2 | 9.2 | — | 9.2 | Before December 31, 2026 | | Supplementing the Group's operations and general working capital | 30 | 3.9 | 3.9 | 3.9 | — | | - During the reporting period, the Group has utilized the unutilized proceeds in accordance with the proposed uses stated in the company's announcement dated January 10, 2025[86](index=86&type=chunk) [Subsequent Events](index=30&type=section&id=Subsequent%20Events) No other significant subsequent events occurred after the reporting period, except as disclosed in this announcement - Other than as disclosed in this announcement, the Directors are not aware of any other significant subsequent events concerning the Group's business or financial performance from June 30, 2025, up to the date of this announcement[87](index=87&type=chunk) [Interim Dividends](index=30&type=section&id=Interim%20Dividends) The Board has resolved not to declare any interim dividend - The Board has resolved not to declare any interim dividend for the reporting period (prior period: nil)[88](index=88&type=chunk) [Publication of 2025 Interim Condensed Consolidated Results and Interim Report](index=30&type=section&id=Publication%20of%202025%20Interim%20Condensed%20Consolidated%20Results%20and%20Interim%20Report) This announcement has been published on the Stock Exchange and the company's website, and the interim report will be dispatched to shareholders in due course - This announcement is published on the Stock Exchange's website and the company's website; the company's interim report for the reporting period will be dispatched and sent to shareholders in due course, and published on the respective websites of the Stock Exchange and the company[89](index=89&type=chunk) [Acknowledgement](index=31&type=section&id=Acknowledgement) The Board sincerely thanks the Group's shareholders, management team, employees, business partners, and customers for their support and contributions to the Group - The Board hereby expresses its sincere gratitude to the Group's shareholders, management team, employees, business partners, and customers for their support and contributions to the Group[90](index=90&type=chunk) [Definitions](index=31&type=section&id=Definitions) Provides definitions for key terms and abbreviations used in the report - The report includes definitions of key terms and abbreviations such as 'the Company', '2023 Placing', 'AdTensor', 'AI', 'CPA', 'CPC', and 'CPM'[91](index=91&type=chunk)[92](index=92&type=chunk)[93](index=93&type=chunk)[94](index=94&type=chunk)

ADTIGER CORPORATIONS LIMITED 虎視傳媒有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1163） 董事會會議日期 虎視傳媒有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司董事會會 議謹訂於二零二五年八月二十六日（星期二）舉行，藉以（其中包括）考慮及批 准本公司及其附屬公司截至二零二五年六月三十日止六個月之未經審核綜合 財務業績以供發佈，及考慮宣派中期股息（如有）。 代表 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，概不就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。 虎視傳媒有限公司 主席、行政總裁及執行董事 常素芳 香港，二零二五年八月十四日 於本公告日期，董事會包括兩名執行董事，即常素芳女士及李慧女士；一名非執行董事，即 鄭琪先生；及三名獨立非執行董事，即姚亞平先生、陳歡先生及張耀亮先生。 ...

Group 1 - The Hang Seng Index rose by 0.68% to close at 24,902.53 points on August 5 [1] - Tiger Media (01163.HK) closed at HKD 0.152 per share, up 9.35%, with a trading volume of 232,500 shares and a turnover of HKD 31,600 [1] - Over the past month, Tiger Media has seen a cumulative increase of 6.92%, and a year-to-date increase of 36.27%, outperforming the Hang Seng Index's 23.3% rise [1] Group 2 - For the fiscal year ending December 31, 2024, Tiger Media reported total revenue of HKD 303 million, a year-on-year increase of 3.13% [1] - The company recorded a net profit attributable to shareholders of HKD -4.24 million, reflecting a year-on-year growth of 61.01% [1] - The gross profit margin stood at 17.68%, while the debt-to-asset ratio was 72.49% [1] Group 3 - Currently, there are no institutional investment ratings for Tiger Media [1] - The average price-to-earnings (P/E) ratio for the media and entertainment industry is -13.67 times, with a median of -1.6 times [1] - Tiger Media's P/E ratio is -27.21 times, ranking 55th in the industry, compared to other companies like Huashi Group Holdings (01111.HK) at 2.17 times and Weibo-SW (09898.HK) at 6.75 times [1] Group 4 - Tiger Media provides global digital marketing solutions based on big data and algorithm analysis, catering to brand promotion, customer acquisition, and monetization needs [2] - The company has extensive marketing experience across various fields, including gaming, e-commerce, apps, and entertainment, aiming to enhance brand influence and target consumers globally [2] - Its self-developed technology platform allows for more efficient and diversified creative output, with automated rules matching high-conversion media placements to reduce marketing costs [2]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 新提交 | | --- | | 截至月份: 2025年7月31日 狀態: | 致：香港交易及結算所有限公司 公司名稱: 虎視傳媒有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01163 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0005 | USD | | 500,000 | | 增加 / 減少 (-) | | | | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0005 | USD | | 500,000 ...

Advertising and Partnerships - The company established a diverse group of advertisers from various industries, including e-commerce, media, finance, and education, to adapt to the rapidly changing advertising industry [8]. - The company is a partner in multiple advertising programs, including Google AdWords Reseller Programme and Meta's China agency partnership, enhancing its media coverage and advertising optimization capabilities [9]. - The company has expanded its media partnerships and continues to improve advertising returns for its clients [10]. - The company continues to enhance its strategic partnerships with major media publishers such as Meta, Google, and TikTok to optimize advertising placements [22]. - The company has been recognized as a quality partner by Meta for six consecutive years and has received multiple accolades for its digital marketing impact [11]. Financial Performance - For the fiscal year ending December 31, 2024, the company reported revenue of RMB 303,365,000, representing a 3.1% increase from RMB 294,157,000 in 2023 [18]. - The gross profit for the same period was RMB 53,621,000, a decrease of 3.9% compared to RMB 55,801,000 in 2023 [18]. - The net loss for the year was RMB 4,830,000, a significant improvement of 57.9% from a loss of RMB 11,464,000 in 2023 [18]. - Total assets increased to RMB 709,318,000 in 2024, up from RMB 670,661,000 in 2023, marking a growth of approximately 5.3% [21]. - Total liabilities rose to RMB 514,189,000 in 2024, compared to RMB 474,542,000 in 2023, reflecting an increase of about 8.3% [21]. Advertising Optimization and Technology - The proprietary advertising optimization management platform, AdTensor, has been significantly upgraded with new AI GPU clusters, enhancing computational power and scalability [14]. - The company plans to increase R&D investment in AI, big data analysis, and automation technologies to optimize advertising performance and explore new business growth opportunities [14]. - The company has integrated advanced AI technologies into its AdTensor platform, enhancing video production efficiency and quality [28]. - The company has developed an AI automatic editing feature that significantly reduces the time required for video editing from hundreds of hours to just one minute [28]. - The company aims to combine technology-based materials with real-person filming to enhance production efficiency and quality for brands expanding overseas [29]. Awards and Recognition - The company received several awards in 2024, including the New Business Powerhouse Award from Outbrain and recognition as a leading partner by Kwai for Business [13]. - The company has been awarded various industry recognitions, including the 2023 Marketing Awards and the IAI International Advertising Awards [11]. - The company has been recognized with multiple awards, including the 2024 New Business Powerhouse Award from Outbrain and the 2024 Excellence in Overseas Advertising Growth Award from Microsoft [24][26]. Employee and Management - The total number of employees as of December 31, 2024, is 145, with a gender distribution of 43 males and 102 females [193]. - The employee turnover rate for the year ending December 31, 2024, is 31%, with a total of 45 employees leaving the company [197]. - The company emphasizes work-life balance by providing monthly team activity funding for employees [200]. - The executive director, Ms. Chang, has approximately 15 years of experience in advertising, marketing, and technology, contributing to the company's strategic planning and operations [77]. - Ms. Li, the senior vice president, has over 15 years of experience in online marketing services, overseeing marketing and new customer development [79]. Corporate Governance - The company has a commitment to high standards of corporate governance to protect shareholder interests and enhance corporate value and accountability [94]. - The company has complied with all mandatory provisions of the corporate governance code during the year, except for a deviation disclosed in the report [94]. - The board consists of 2 executive directors, 1 non-executive director, and 3 independent non-executive directors [102]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee [112]. - The board is responsible for reviewing and monitoring compliance with legal and regulatory requirements [111]. Environmental, Social, and Governance (ESG) - The company is committed to sustainable development and integrates environmental management into its business decisions, focusing on stakeholder engagement [165]. - The total greenhouse gas emissions for the year ending December 31, 2024, decreased to 29.17 tons of CO2 equivalent from 43.96 tons in 2023, representing a reduction of approximately 33.7% [174]. - The company has implemented a green office initiative to minimize waste generation and maximize resource utilization [178]. - The company encourages employee participation in environmental activities, such as recycling workshops and sustainability practices, to promote a culture of sustainability [187]. - The board of directors is responsible for overseeing ESG matters and has formed a working group to assist in implementing related strategies [167].

Financial Performance - The company's revenue for the year ended December 31, 2024, was RMB 303,365,000, representing a 3.1% increase from RMB 294,157,000 in 2023[5] - Gross profit decreased by 3.9% to RMB 53,621,000 in 2024, down from RMB 55,801,000 in 2023[5] - The net loss for the year improved significantly by 57.9%, amounting to RMB 4,830,000 compared to RMB 11,464,000 in the previous year[5] - Total revenue increased by approximately RMB 9.2 million or 3.1% to RMB 303.4 million, primarily driven by an increase in CPA pricing model revenue[15] - Revenue from the CPA pricing model reached RMB 243.5 million, accounting for 80.3% of total revenue, while CPC/CPM pricing model revenue was RMB 59.9 million, representing 19.7%[14] - The financial sector contributed RMB 114.7 million or 37.8% to total revenue, followed by e-commerce at RMB 101.1 million or 33.3%[14] - Gross profit decreased to RMB 53.6 million with a gross margin of 17.7%, down from 19.0% in the previous year[19] - Other income increased by approximately RMB 4.2 million or 69.2% to RMB 10.3 million, attributed to more effective cash utilization through flexible allocation of short-term deposits[20] - The company recorded a tax credit of approximately RMB 1.5 million this year, compared to RMB 1.8 million last year, mainly due to a narrowing net loss[24] - The company reported a loss of approximately RMB 4.8 million this year, an improvement from a loss of approximately RMB 11.5 million in the previous year[25] - The return on equity improved to -2.5% from -5.8% year-on-year, while the total asset return also improved to -0.7% from -1.7%[44] Operational Metrics - The number of advertisers increased to 1,332 in 2024, up from 785 in 2023, indicating a growth of 69.5%[9] - Advertiser spending reached approximately RMB 3.1 billion, a growth of about 14.8% from approximately RMB 2.7 billion in the previous year[9] - The number of media publishers from which the company purchased advertising inventory decreased to 37 in 2024 from 50 in 2023, reflecting a strategic focus on optimizing partnerships[9] - Total sales cost rose by approximately RMB 11.4 million or 4.8% to RMB 249.7 million, mainly due to increased traffic acquisition costs[17] - Sales and distribution expenses rose by approximately RMB 0.3 million or 2.7% to RMB 12.2 million, driven by increased salaries and bonuses for sales and marketing personnel[21] - Total employee costs amounted to approximately RMB 38.8 million this year, down from RMB 43.0 million last year, reflecting a reduction in workforce due to underperformance in game projects[27] Cash Flow and Assets - Cash and cash equivalents increased by approximately RMB 36.6 million from RMB 358.5 million to RMB 395.1 million as of December 31, 2024, primarily due to the withdrawal of fixed deposits[31] - Net cash flow from operating activities was a negative RMB 13.9 million this year, compared to a positive RMB 62.6 million last year, indicating a decline in operational cash generation[39] - The net cash flow from operating activities changed from a net inflow of approximately RMB 62.6 million to a net outflow of approximately RMB 13.9 million, primarily due to increased trade receivables as a result of offering longer payment terms to customers in a competitive market[40] - The net cash flow from investing activities increased by approximately 287.0%, mainly due to the withdrawal of fixed deposits during the reporting period[40] - The net cash flow from financing activities changed from a net inflow of approximately RMB 9.2 million to a net outflow of approximately RMB 2.4 million, primarily due to funds received from a placement in the previous year[40] - Current assets increased from RMB 645,877,000 in 2023 to RMB 692,099,000 in 2024, representing an increase of about 7.1%[52] - Trade receivables rose significantly from RMB 178,107,000 in 2023 to RMB 227,049,000 in 2024, an increase of approximately 27.4%[52] - Cash and cash equivalents increased from RMB 358,466,000 in 2023 to RMB 395,103,000 in 2024, reflecting a growth of about 10.2%[52] - Total liabilities increased from RMB 473,572,000 in 2023 to RMB 514,020,000 in 2024, marking an increase of approximately 8.5%[52] Strategic Initiatives - The company has restructured its AdTensor technology platform, enhancing computational power and scalability with a new AI GPU cluster[10] - Advanced AI technologies, including generative AI and large language models, have been integrated into the AdTensor platform to improve video production workflows[11] - The company aims to expand its media publisher network to include a mix of top-tier and mid-tail publishers with international influence[9] - The company maintains a cautious optimism towards exploring new business growth points and opportunities in emerging overseas markets[12] - The company aims to enhance data collection, analysis, and application to shift from experience-driven to data-driven decision-making[94] - The company plans to strengthen its global marketing services, including performance advertising, influencer marketing, and video advertising production[94] - AI technology will be a core competitive advantage, with investments in algorithm and system architecture for applications in video models and virtual shooting[95] - The company will focus on cross-industry collaboration and ecosystem building to explore new marketing models and growth points[94] - The company will actively expand into international markets while tailoring marketing strategies to local cultural and consumer behavior differences[94] Governance and Compliance - The company has adopted a corporate governance code and believes it has complied with all mandatory disclosure requirements[98] - The company did not apply for or obtain any bank financing during the year, with no outstanding debt securities or loans as of December 31, 2024[43] - The company has not declared or paid any dividends since its incorporation[78] - The board of directors has approved a share incentive plan to attract and retain talent[118] - The company is taking a cautious approach to acquisitions due to the impact of the global economic downturn[104] Shareholder Matters - The company will hold its annual general meeting on June 10, 2025, to discuss shareholder matters[110] - The company will suspend share transfer registration from June 5 to June 10, 2025, to determine eligible shareholders for the annual general meeting[111] - The company plans to issue 124,500,000 shares at a placement price of HKD 0.104 per share in May 2023[115] - A subsequent placement of 149,400,000 shares is scheduled for January 2025 at a price of HKD 0.090 per share[116] - The company entered into a placement agreement with Golden Dragon Securities Limited to issue up to 149,400,000 shares at a price of HKD 0.09 per share, raising approximately HKD 13.12 million[93] - The placement represents about 16.7% of the company's enlarged issued share capital following the completion of the placement[93]

Advertising and Client Expansion - In 2023, AdTiger expanded its advertising client base across various industries, including e-commerce, media, finance, and education, adapting to rapid changes in advertising demand[8]. - The company became an official partner of Microsoft Advertising in 2023, enhancing its media coverage and advertising services[9]. - AdTiger's advertising services include performance advertising, influencer marketing, brand public relations, and video advertising production, targeting global clients[12]. - The company has established partnerships with top media publishers like Meta, Google, and TikTok, allowing clients to optimize their advertising campaigns[9]. - AdTiger's media partnerships have been recognized with various accolades, including being named a certified partner for Snapchat and TikTok Ads[10]. - The company plans to expand its media publisher network to include a mix of top-tier and mid-tail publishers with international influence[10]. Technological Advancements - AdTiger's proprietary advertising optimization platform, AdTensor, underwent significant technological upgrades, including the integration of AI GPU clusters and advanced AI voice technology[12]. - The introduction of AI-driven features in the AdTensor platform has significantly enhanced video editing efficiency, allowing for rapid content creation[28]. - The company plans to enhance its advertising formats and materials, focusing on the development and maintenance of AdTensor, in response to increasing demand from advertisers and media publishers[72]. - The company is committed to increasing R&D investment, particularly in AI, big data analytics, and automation technologies[72]. Financial Performance - The company's revenue for the year ended December 31, 2023, was RMB 294,157,000, a decrease of 17.1% compared to RMB 354,646,000 in 2022[17]. - Gross profit for the same period was RMB 55,801,000, down 9.6% from RMB 61,729,000 in the previous year[17]. - The company reported a net loss of RMB 11,464,000 for 2023, a significant decline of 225.6% compared to a profit of RMB 9,128,000 in 2022[17]. - Total assets increased to RMB 670,661,000 in 2023 from RMB 620,812,000 in 2022, reflecting a growth of 8.4%[21]. - Total liabilities rose to RMB 474,542,000 in 2023, up from RMB 427,051,000 in 2022, indicating an increase of 11.1%[21]. - Total sales costs decreased by approximately RMB 54.5 million or 18.6% to about RMB 238.4 million, mainly due to reduced traffic acquisition costs[35]. - The gross profit margin improved to 19.0% from 17.4% year-on-year, with total gross profit amounting to RMB 55.8 million[37]. Market and Revenue Insights - Advertiser spending reached approximately RMB 2.7 billion in 2023, a significant increase of 42.1% compared to RMB 1.9 billion in the previous year[25]. - The number of advertisers increased to 785 in 2023 from 675 in 2022, representing a growth of 16.3%[25]. - Revenue from the CPA pricing model was RMB 230.0 million, accounting for 78.2% of total revenue, while CPC/CPM pricing model revenue was RMB 64.1 million, representing 21.8%[32]. - The financial sector contributed RMB 110.7 million or 37.6% to total revenue, while e-commerce contributed RMB 102.4 million or 34.8%[32]. Strategic Growth and Future Plans - The company aims to explore strategic investments and acquisition opportunities to strengthen its product portfolio and enhance brand reputation[12]. - The company plans to expand its media publisher network, increasing the number of media publishers from 33 in 2022 to 50 in 2023[27]. - The company aims to enhance its global presence and explore opportunities in digital entertainment, online gaming, and the metaverse[13]. - The management has provided an optimistic outlook, forecasting a revenue growth of 20% for the next fiscal year[93]. - A strategic acquisition is in progress, which is projected to increase the company's customer base by 40%[93]. Corporate Governance and Management - The board consists of 2 executive directors, 1 non-executive director, and 3 independent non-executive directors, ensuring a diverse range of business experience and expertise[113]. - The company has implemented robust internal controls and risk management procedures to ensure operational efficiency and compliance[105]. - The company emphasizes the importance of board independence for good corporate governance and has confirmed that all independent non-executive directors are independent for the year[115]. - The company has established principles for determining individual director compensation, considering comparable company pay and responsibilities[135]. Environmental, Social, and Governance (ESG) Initiatives - The company has established an Environmental, Social, and Governance (ESG) working group to assist the board in monitoring and promoting ESG strategies[177]. - The total greenhouse gas emissions for the year 2023 amounted to 43.96 tons of CO2 equivalent, an increase from 28.35 tons in 2022, reflecting a 55% rise[188]. - The total energy consumption for 2023 was 75,572 kWh, up from 47,652 kWh in 2022, representing a 58.5% increase[195]. - The company aims to maintain or reduce total greenhouse gas emissions density in the next reporting year, using 2023 as the baseline[188]. - The company actively promotes green office practices to minimize waste generation and maximize resource utilization[193].