尊敬的各位投资者与分析师朋友,大家下午好,欢迎大家参加由国振国际和路演中联合举办的国振国际策略会上市公司路演大会。我是本场的会议主持人国振国际分析师汪洋,本场会议我们是非常荣幸邀请到了交过朋友公司的投资者关系团队的谭总和孟总来与我们进行交流,协助我们进一步了解公司的企业文化和思想。 公司的更新动态那投资者当中如果有任何问题可以随时在参会界面的问答区输入文字提问稍后交由我来带位念出那首先我们进入上市公司的发言环节就请孟总先介绍一下公司的这个最新的一些屹立情况孟总好的谢谢王总各位好非常感谢大家的时间我们是交友朋友控股有限公司股票代码1450我们在港股上市 然后接下来我来给大家简单介绍一下公司的情况2024年上半年公司累计时间GMV近60亿元人民币同比增长18.3%2024年第三季度那我们也自愿公告了约 88.6亿元同比增长18.44那我们上半年的收入同比增长43.8至6.2亿元金利润同比增加93.8至8381万元那我们经调整的金利润也达到了1.1亿元目前我们开播的直播间数量超过50个是目前新媒体领域拥有直播间数量最多的机构 那直播粉丝数也超过6800万那在双11后我们也更新了数据那如果把全网新浪微博以及小红书等平 ...

2024 发 Be Friends Holding Limited 交個朋友控股有限公司 (於開曼群島註冊成立之有限公司) 股份代號: 1450 目錄 公司資料2 | --- | --- | |-------------------------------------|-------| | | | | 管 理 層 討 論 及 分 析 | | | 股 份 獎 勵 計 劃 | | | 其 他 資 料 | | | 中 期 簡 明 合 併 綜 合 收 益 表 | | | 中 期 簡 明 合 併 資 產 負 債 表 | | | 中 期 簡 明 合 併 權 益 變 動 表 | | | 中 期 簡 明 合 併 現 金 流 量 表 | | | 簡 明 合 併 中 期 財 務 資 料 附 註 | | | | | 公司資料 | --- | --- | |-------------------------------------------------------|----------------------------------------------------------------| | 董事會 | 中國總辦事處及主要營 ...

Financial Performance - The company reported a revenue of RMB 622.1 million for the six months ended June 30, 2024, representing a 43.8% increase compared to RMB 432.7 million in the same period last year[1]. - Net profit for the same period was RMB 83.8 million, up 93.8% from RMB 43.3 million year-on-year[3]. - Adjusted net profit under non-Hong Kong Financial Reporting Standards was RMB 110.7 million, reflecting a 17.0% increase from RMB 94.6 million in the previous year[1]. - Revenue from new media services was RMB 563.6 million, a 43.9% increase from RMB 391.7 million in the previous year[1]. - Broadcasting business revenue was RMB 58.4 million, reflecting a 42.6% increase from RMB 41.0 million year-on-year[1]. - The group's gross profit for the six months ended June 30, 2024, was approximately RMB 320.6 million, representing an increase of about 31.2% compared to RMB 244.4 million for the same period last year[14]. - The overall gross margin decreased from approximately 56.5% in the previous year to about 51.5% in the current period[14]. - The net profit for the current period was approximately RMB 83.8 million, compared to RMB 43.3 million for the same period last year[22]. - Basic earnings per share increased to RMB 6.35 for the six months ended June 30, 2024, compared to RMB 3.36 in the same period of 2023[36]. - The company reported a total of 63,702,652 awarded shares as of June 30, 2023, after accounting for new grants and forfeitures during the period[64]. Revenue Segmentation - The new media services segment generated revenue of approximately RMB 563.6 million, accounting for about 90.6% of total revenue, which is an increase of approximately 43.9% from RMB 391.7 million in the previous year[9]. - The broadcasting business segment's revenue increased to approximately RMB 58.4 million, up about 42.6% from RMB 41.0 million in the same period last year, accounting for about 9.4% of total revenue[10]. - For the six months ending June 30, 2024, the reported revenue from the New Media Services segment was RMB 563,645,000, while the Broadcasting Business segment generated RMB 58,418,000, totaling RMB 622,063,000[45]. Cost and Expenses - The group's cost of sales for the six months ending June 30, 2024, was approximately RMB 301.5 million, an increase of about 60.1% from RMB 188.3 million in the previous year[11]. - The cost of sales for the new media services segment was approximately RMB 260.5 million, reflecting an increase of about 58.7% compared to RMB 164.1 million in the same period last year[12]. - The broadcasting business segment's cost of sales rose to approximately RMB 41.0 million, an increase of about 69.6% from RMB 24.2 million in the previous year[13]. - Sales expenses increased to approximately RMB 153.2 million from RMB 107.7 million, an increase of about RMB 45.5 million, mainly due to higher recruitment and salary expenses for marketing personnel[17]. - Administrative expenses decreased to approximately RMB 81.7 million from RMB 88.4 million, a reduction of about RMB 6.7 million, mainly due to decreased equity incentive costs related to administrative management personnel[18]. Cash Flow and Financial Position - The net cash inflow from operating activities for the group during the interim period was approximately RMB 20.3 million, a decrease from RMB 70.1 million in the same period last year[25]. - The net cash outflow from investing activities was approximately RMB 10.9 million, down from RMB 39.7 million in the previous year, primarily due to a cash acquisition of a subsidiary last year[25]. - The net cash inflow from financing activities was approximately RMB 49.7 million, compared to a net cash outflow of RMB 11.1 million in the same period last year, mainly due to increased bank borrowings[25]. - Total bank and other borrowings increased from approximately RMB 133.9 million on December 31, 2023, to approximately RMB 181.8 million on June 30, 2024, driven by efforts to enhance capital efficiency[25]. - Current assets as of June 30, 2024, were approximately RMB 674.8 million, up from RMB 527.3 million on December 31, 2023, while current liabilities increased to approximately RMB 419.8 million from RMB 408.2 million[25]. - The current ratio improved from approximately 1.29 on December 31, 2023, to approximately 1.61 on June 30, 2024[25]. - The net debt-to-equity ratio as of June 30, 2024, was -4.6%, a decrease from 0.1% on December 31, 2023, due to a significant increase in cash and bank balances[30]. Corporate Governance and Compliance - The company continues to adhere to the corporate governance principles as outlined in the listing rules, ensuring compliance and transparency[74]. - The company has adopted a Securities Trading Code for directors, ensuring compliance with the standards set forth in the Listing Rules[75]. - The Audit Committee consists of three independent non-executive directors, with Dr. Yu Guojie serving as the chairman, and has adhered to the Listing Rules and Corporate Governance Code[76]. - The company approved amendments to its Articles of Association on March 26, 2024, reflecting the latest provisions of the Listing Rules[77]. Strategic Initiatives and Future Outlook - The company has initiated the development of an AI live streaming project aimed at enhancing operational efficiency and decision-making processes in live e-commerce[5]. - The company aims to build a healthy and sustainable new retail ecosystem, enhancing user experience through technological innovation and digital transformation[7]. - The company recognizes the increasing profitability threshold in the media industry, which may lead to higher industry concentration as smaller players exit the live e-commerce sector[7]. - The company will actively explore opportunities in overseas markets while continuing to strengthen its R&D investments in communication transmission products[6]. Employee and Shareholder Information - The total number of employees increased to 1,563 as of June 30, 2024, from 1,260 on December 31, 2023[33]. - The board of directors did not recommend the distribution of an interim dividend for the interim period[33]. - The company plans to provide further details regarding the share award scheme in its interim report for 2024[34]. - The company granted a total of 15,169,920 shares under the 2022 Share Award Scheme to 199 selected participants, effective April 10, 2024[34].

Financial Performance - The company's revenue increased by approximately 152.4% to about RMB 1,074.3 million in the reporting period, compared to RMB 425.6 million in the previous year[25]. - Revenue from the new media services segment reached RMB 988.7 million, accounting for 92.0% of total revenue, up from 71.1% in the previous year[23]. - The gross profit margin for the new media services segment improved from approximately 51.3% to 54.0%[19]. - The broadcasting business segment's revenue decreased to approximately RMB 85.6 million, representing 8.0% of total revenue, down from RMB 123.1 million in the previous year[15]. - The company's sales cost increased by approximately 123.2% to about RMB 507.4 million, compared to RMB 227.4 million in the previous year[16]. - Adjusted net profit for the reporting period was approximately RMB 180.4 million, a significant increase of about 601.3% from RMB 25.7 million in the previous year[23]. - The total gross profit for the company was RMB 566.9 million, with a gross profit margin of 52.8%[23]. - The company achieved a total merchandise transaction volume (GMV) exceeding RMB 12 billion, positioning itself among the leaders in live e-commerce[25]. - The broadcasting business segment's gross profit margin increased from approximately 35.1% to 38.5% due to reduced procurement costs[20]. - The new media services segment accounted for approximately 92.0% of total revenue, increasing from about RMB 302.5 million to approximately RMB 988.7 million year-over-year, representing a growth of about 226.5%[32]. - Gross profit increased by approximately 186.0%, from about RMB 198.2 million to approximately RMB 566.9 million, with gross margin improving from approximately 46.6% to about 52.8%[37]. - The company reported a net profit attributable to shareholders for the reporting period was approximately RMB 119.5 million, compared to a loss of about RMB 9.2 million in the same period last year[43]. - The company's net profit for the year 2023 was RMB 113.971 million, compared to a loss of RMB 16.391 million in 2022[57]. - Adjusted net profit for 2023 was RMB 180.359 million, significantly up from RMB 25.716 million in 2022[57]. - The company reported a total revenue of RMB 1,074,335,000, representing a significant increase compared to RMB 425,606,000 from the previous year[99]. - Operating profit was RMB 145,781,000, a substantial increase from RMB 5,384,000 in the prior year[99]. - Total comprehensive income for the year amounted to RMB 115,014,000, compared to a loss of RMB 19,744,000 last year[101]. Operational Developments - The group increased the number of live streaming rooms from 15 to over 30, enhancing operational efficiency through comprehensive data-driven capabilities[3]. - The group plans to deepen supply chain capabilities and fully digitize operations to support the scaling of standardized live streaming rooms[8]. - The group aims to enhance product offerings and service quality while providing more efficient sales channels for merchants[8]. - The group successfully developed a compact and lightweight broadcasting product suitable for various industries, reducing costs for live streaming setups[7]. - The group has established over 30 live streaming rooms, with a total follower count exceeding 50 million, successfully implementing a standardized and replicable operational model[26]. - The company completed the acquisition of Beijing Jiao Ge Peng You Digital Technology Co., enhancing its capabilities in new media services[27]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[104]. Corporate Social Responsibility - The group donated RMB 1 million for flood relief and RMB 2 million for earthquake relief, while also generating RMB 236 million in sales from 26 rural revitalization charity live streams[5]. - The group has committed to corporate social responsibility by actively participating in disaster relief efforts and rural revitalization initiatives[5]. Awards and Recognition - The group received over 20 awards during the reporting period, including the Annual Influential MCN Organization award at the Douyin E-commerce Ecosystem Conference[5]. Financial Position and Liabilities - The current assets of the group were approximately RMB 527.3 million, up from about RMB 352.9 million the previous year, while current liabilities increased to approximately RMB 408.2 million from about RMB 318.2 million[44]. - The current ratio improved from approximately 1.11 to about 1.29 year-over-year, indicating better short-term financial health[44]. - The company's total liabilities increased to RMB 452,877,000 from RMB 343,923,000, reflecting ongoing investments and operational costs[103]. - The total equity and liabilities reached RMB 754,587,000, up from RMB 446,906,000, indicating growth in the company's financial position[103]. - The total amount of bank and other borrowings increased from approximately RMB 126.8 million at the end of 2022 to approximately RMB 133.9 million at the end of 2023[59]. Expenses and Cost Management - Administrative expenses increased by approximately 61.0%, reaching RMB 173.6 million in 2023, primarily due to higher salary expenditures for management talent recruitment[51]. - Sales expenses surged by approximately 269.1%, totaling RMB 261.7 million in 2023, driven by increased salary expenditures for marketing talent recruitment[71]. - Financial expenses net amount rose by approximately 14.7%, amounting to RMB 13.3 million in 2023, attributed to increased foreign exchange losses[70]. - The sales cost of the new media services segment increased by approximately 208.5%, rising from about RMB 147.4 million to approximately RMB 454.8 million, primarily due to the significant revenue increase in this segment[33]. Shareholder Information - The company did not recommend the payment of a final dividend for the year ending December 31, 2023[45]. - The company plans to consider exercising share repurchase rights to create more value for shareholders[30]. - The group has established a compensation policy that includes basic salary, allowances, benefits, and share rewards based on individual performance evaluations[94]. - The group has implemented a share reward plan to recognize contributions to growth and development, which ended on December 29, 2023[95]. Employee and Workforce - As of December 31, 2023, the total number of employees in the group was 1,260, up from 785 on December 31, 2022[74]. Taxation and Financial Management - The income tax expense for the reporting period was approximately RMB 25.5 million, an increase from RMB 10.3 million in the same period last year, primarily due to profit growth[81]. - The company is subject to a 20% corporate income tax rate for taxable profits below RMB 3,000,000 as per the latest tax regulations[181]. Miscellaneous - The company did not engage in any significant investments or acquisitions during the reporting period[120]. - There were no major subsequent events reported after the reporting period[121]. - The company has not adopted any financial instruments to hedge against foreign exchange risks during the reporting period, although management monitors these risks[88]. - The company has no significant exposure to cash flow interest rate risk as it does not hedge against such risks[73].

Financial Performance - For the six months ended June 30, 2023, the Group's revenue was approximately RMB 432.7 million, representing an increase of approximately 215.5% compared to RMB 137.2 million for the same period in 2022[11]. - Revenue from the application solutions segment decreased from approximately RMB 61.8 million to approximately RMB 25.8 million, representing a decrease of approximately 58.3%[15]. - Revenue from the system maintenance services segment decreased from approximately RMB 6.2 million to approximately RMB 1.3 million, representing a decrease of approximately 79.0%[14]. - Revenue from the sales of self-developed products decreased from approximately RMB 16.3 million to approximately RMB 13.9 million, representing a decrease of approximately 14.7%[38]. - The Group recorded a net profit of approximately RMB 43.3 million for the Interim Period, compared to a net loss of approximately RMB 30.0 million for the Corresponding Period[59]. - Adjusted net profit for the six months ended June 30, 2023, was approximately RMB 94.6 million, a significant increase from RMB 4.9 million in the same period of 2022[63]. - The total gross profit for the Group was approximately RMB 244.4 million for the interim period[46]. Cost and Expenses - The cost of sales for the new media services segment increased from approximately RMB 23.5 million to approximately RMB 164.1 million, representing an increase of approximately 598.2%[18]. - The Group's cost of sales increased from approximately RMB 82.3 million in the corresponding period to approximately RMB 188.3 million for the six months ended June 30, 2023, representing an increase of approximately 128.9%[49]. - Selling expenses increased from approximately RMB 26.3 million to approximately RMB 107.7 million, an increase of approximately RMB 81.4 million, mainly due to higher salary and wage expenses for marketing talent recruitment[47]. - Administrative expenses for the six months ended June 30, 2023, were approximately RMB 88.4 million, an increase of approximately RMB 39.3 million compared to RMB 49.1 million for the same period in 2022[59]. - The sales cost for self-developed products decreased from approximately RMB 6.0 million to approximately RMB 4.6 million, a reduction of approximately 23.1%[45]. Gross Profit and Margins - The gross profit for the system maintenance services segment increased significantly from approximately RMB 54.9 million to approximately RMB 244.4 million, with a gross profit margin rising from approximately 40.0% to approximately 56.5%, an increase of about 345.3%[46][47]. - The gross profit margin for the new media services segment increased from approximately 55.5% to approximately 58.1% during the interim period[47]. - The gross profit margin for the application solutions segment improved from approximately 21.6% to approximately 27.8%, primarily due to increased adoption of domestic brand application solutions[47]. - The gross profit margin for the sales of self-developed products rose from approximately 63.5% to approximately 67.0%[47]. - The gross profit margin for the system maintenance services segment decreased from approximately 29.2% to approximately 24.7% due to increased maintenance reports during the interim period[47]. Cash Flow and Financing - Net cash inflow from operating activities during the Interim Period was approximately RMB 70.1 million, compared to a net cash outflow of approximately RMB 21.7 million in the Corresponding Period[66]. - Net cash outflow from investing activities for the Interim Period amounted to approximately RMB 39.7 million, primarily due to cash settlement for the acquisition of a subsidiary[66]. - Net cash outflow from financing activities during the Interim Period was approximately RMB 11.1 million, compared to RMB 39.4 million in the Corresponding Period, mainly due to repayment of bank and other borrowings[66]. - Total bank and other borrowings decreased from approximately RMB 126.8 million as of December 31, 2022, to approximately RMB 115.7 million as of June 30, 2023[66]. - The gearing ratio decreased to 34.4% as of June 30, 2023, from 88.3% as of December 31, 2022, due to an increase in total equity and cash[75]. Share Award Plans - The Company awarded a total of 74,471,230 shares at nil purchase price to 68 selected participants under the 2022 Share Award Plan[76]. - A conditional grant of 39,338,200 awarded shares was made to Mr. Li Liang, an executive Director, approved by independent shareholders[76]. - The 2022 Share Award Plan was adopted to recognize contributions from eligible participants to the Group's growth[169]. - The total number of awarded shares that may be issued under all schemes of the Company is 74,471,230 shares, which represents approximately 5.66% of the weighted average number of shares in issue during the Interim Period (1,315,121,374 shares)[106]. - The performance targets for the 2022 awarded shares include settled GMV, settled revenue, completion ratio of material projects, accuracy of data collected, and the number of successful new media marketing projects introduced[129]. Corporate Governance and Compliance - The Group has adopted all applicable code provisions of the Corporate Governance Code, ensuring compliance since June 19, 2023, when Mr. Li Jun was appointed as the chairman of the Board[199]. - The Audit Committee comprises three independent non-executive Directors, ensuring compliance with the Listing Rules and Corporate Governance Code[176]. - The Company confirmed compliance with the required standards set out in the Securities Dealing Code by all Directors throughout the Interim Period[111]. Employee and Remuneration - The Group had a total of 829 employees, an increase from 785 employees as of December 31, 2022, reflecting a growth of approximately 5.6%[190]. - The Company has established a remuneration policy that includes basic wages, allowances, and employee share awards based on performance assessments[168]. - The annual remuneration of Ms. Zhao as executive director has been increased to HK$1,200,000 effective from March 28, 2023[174]. - The Group recognizes the importance of skilled employees for business growth and has implemented training systems including orientation and professional training[191].

Financial Performance - The company's revenue for the six months ended June 30, 2023, was approximately RMB 432.7 million, an increase of 215.5% compared to approximately RMB 137.2 million in the corresponding period[2]. - The net profit for the same period was approximately RMB 43.3 million, a turnaround from a net loss of approximately RMB 30.0 million in the corresponding period[2]. - Adjusted net profit under non-Hong Kong Financial Reporting Standards was approximately RMB 94.6 million, representing a significant increase of 1,798.0% from approximately RMB 5.0 million in the corresponding period[2]. - The total gross merchandise value (GMV) exceeded RMB 5 billion, driving rapid growth in overall business operations and financial performance[2]. - The company's gross profit for the six months ended June 30, 2023, was approximately RMB 244.4 million, an increase of about 345.3% compared to RMB 54.9 million in the same period last year[71]. - The net profit for the interim period was approximately RMB 43.3 million, compared to a net loss of approximately RMB 30.0 million in the corresponding period[77]. - The adjusted net profit was RMB 94.6 million, significantly higher than the adjusted net profit of RMB 4.9 million in the same period last year[79]. Revenue Segmentation - The new media services segment generated revenue of approximately RMB 391.7 million, accounting for 90.5% of total revenue, up from approximately RMB 52.9 million in the corresponding period, an increase of about 640.7%[10]. - The application solutions segment's revenue decreased to approximately RMB 25.8 million, representing a decline of about 58.3% from approximately RMB 61.8 million in the corresponding period, accounting for 6.0% of total revenue[11]. - Revenue from self-developed product sales decreased to approximately RMB 13.9 million, down 14.7% from approximately RMB 16.3 million in the corresponding period, accounting for 3.2% of total revenue[12]. - Revenue from new media services reached RMB 391.7 million, a significant increase of 640.7% from RMB 52.9 million year-over-year[32]. Cost and Expenses - The sales cost for the group increased from approximately RMB 82.3 million to RMB 188.3 million, an increase of approximately 128.9%[13]. - The sales cost of the new media services segment surged from approximately RMB 23.5 million to about RMB 164.1 million, an increase of approximately 598.2%[15]. - The sales cost of the application solutions segment decreased from approximately RMB 48.4 million to about RMB 18.6 million, a reduction of approximately 61.6%[15]. - Administrative expenses rose from approximately RMB 49.1 million to RMB 88.4 million, an increase of approximately RMB 39.3 million[22]. - The sales cost of the system maintenance services segment decreased from approximately RMB 4.4 million to about RMB 1.0 million, a reduction of approximately 77.7%[16]. Profitability Metrics - The gross profit margin for the application solutions segment improved from approximately 21.6% to about 27.8%[19]. - The gross profit margin for the self-developed product sales segment increased from approximately 63.5% to about 67.0%[20]. - The gross profit for new media services was RMB 227.6 million, with a gross margin of 58.1%, compared to RMB 29.4 million and a gross margin of 55.5% in the previous year[43]. - The gross profit from application solutions was RMB 7.2 million, with a gross margin of 27.8%, compared to RMB 13.3 million and a gross margin of 21.6% in the previous year[43]. - The gross profit margin improved from approximately 40.0% in the corresponding period to about 56.5% in the current interim period[71]. Cash Flow and Financial Position - The net cash inflow from operating activities for the interim period was approximately RMB 70.1 million, compared to a net cash outflow of RMB 21.7 million in the corresponding period[81]. - The net cash outflow from investment activities during the interim period was approximately RMB 39.7 million, compared to a net cash inflow of approximately RMB 38.5 million in the corresponding period[53]. - The net cash outflow from financing activities was approximately RMB 11.1 million, an improvement from a net cash outflow of RMB 39.4 million in the corresponding period[82]. - The company's current assets were approximately RMB 386.2 million as of June 30, 2023, compared to RMB 352.9 million as of December 31, 2022[83]. - The company's total liabilities were RMB 392,811,000 as of June 30, 2023, up from RMB 343,923,000 as of December 31, 2022[95]. - The company's total equity as of June 30, 2023, was RMB 1,385,742,225, an increase from RMB 1,311,270,995 as of January 1, 2023[167]. Strategic Initiatives - The company successfully acquired Beijing Jiao Ge Peng You Digital Technology Co., Ltd. in May 2023, enhancing its capabilities in new media services[29]. - The company aims to optimize its organizational structure and enhance service capabilities to better serve customers and consumers in the future[31]. - The company plans to expand its presence on various platforms, including Taobao and JD, to reach a broader consumer base[29]. - The company is committed to continuous innovation in technology related to live streaming and application solutions to maintain its market leadership[31]. - The company plans to continue expanding its market presence and investing in new technologies and products to drive future growth[89]. - The company is exploring potential mergers and acquisitions to enhance its competitive position in the market[1]. Shareholder and Employee Incentives - A total of 74,471,230 reward shares were granted under the 2022 Share Award Scheme, including 39,338,200 shares conditionally granted to an executive director[66]. - The company has implemented a share incentive plan to reward eligible participants for their contributions to growth and development[89]. - The company's share incentive plan recorded a fair value of RMB 51,382,000 for the six months ended June 30, 2023, compared to RMB 18,445,000 for the same period in 2022[196]. Taxation and Government Support - Income tax expenses increased from approximately RMB 85,000 to RMB 4,949,000, primarily due to the group's profitability[24]. - The group recorded a tax rate of 16.5% for the estimated taxable profit for the six months ended June 30, 2023, consistent with the previous year[133]. - Government subsidies amounted to RMB 7,198,000 for the six months ended June 30, 2023[131]. Market and User Growth - The company reported a significant increase in user data, with 33,047 users in the three months ending June 30, 2023, compared to 27,581 users in the same period in 2022[177]. - The company is focused on expanding its new media services and application solutions in the Chinese market, which is expected to drive future revenue growth[100].

Financial Performance - For the year ended December 31, 2022, the group's revenue was approximately RMB 425.6 million, an increase of 109.9% compared to RMB 202.8 million for the corresponding period[6]. - Gross profit for the same period was approximately RMB 198.2 million, representing a growth of about 208.1% from RMB 64.3 million in the previous year[6]. - The group recorded a loss of approximately RMB 16.4 million, a reduction of 76.1% compared to a loss of RMB 68.7 million in the corresponding period[6]. - The adjusted net profit under non-Hong Kong Financial Reporting Standards was approximately RMB 25.7 million, compared to an adjusted net loss of RMB 38.4 million in the corresponding period[25]. - The overall loss for the year was RMB 16,391 thousand, a significant improvement from a loss of RMB 68,724 thousand in the previous year[61]. - Adjusted profit for the year was RMB 25,716 thousand, compared to an adjusted loss of RMB 38,377 thousand in the previous year[61]. Revenue Segmentation - Revenue from the new media services segment reached approximately RMB 302.5 million, accounting for 71.1% of total revenue, a significant increase from RMB 22.0 million in the previous year[14]. - The new media services segment saw a revenue increase of approximately 1,275.0%, while the application solutions segment experienced a revenue decrease of about 39.1%[30]. - The application solutions segment's revenue decreased to approximately RMB 73.9 million, down from RMB 121.4 million, primarily due to project delays caused by domestic pandemic control measures[15]. - Revenue from self-developed products accounted for approximately 23.4% and 8.4% of total revenue for the corresponding period and reporting period, respectively, with a decrease from approximately RMB 47.4 million to RMB 35.5 million[31]. Profitability and Costs - The gross profit from the new media services segment increased to approximately RMB 155.1 million, reflecting a year-on-year growth of 1,293.2%[26]. - The gross profit for the group increased by approximately 208.1%, from about RMB 64.3 million to RMB 198.2 million, with a gross profit margin rising from approximately 31.7% to 46.6%[43]. - Sales costs increased by approximately 64.2% to RMB 227.4 million from RMB 138.5 million in the previous year[11]. - The sales cost of the application solutions segment decreased by approximately 41.6%, from about RMB 103.9 million to RMB 60.6 million, due to a decline in revenue from this segment[40]. - The sales cost of the self-developed products segment decreased by approximately 33.0%, from about RMB 18.1 million to RMB 12.1 million, primarily due to the decline in revenue from this segment[42]. Cash Flow and Assets - The net cash outflow from operating activities during the reporting period was approximately RMB 2.1 million, compared to a net inflow of approximately RMB 7.8 million in the corresponding period[50]. - Current assets as of December 31, 2022, were approximately RMB 352.9 million, compared to RMB 344.7 million as of December 31, 2021, while current liabilities were approximately RMB 318.2 million, up from RMB 306.5 million[51]. - The current ratio slightly decreased from approximately 1.12 as of December 31, 2021, to about 1.11 as of December 31, 2022[51]. - Cash inflow from investment activities during the reporting period was approximately RMB 32.3 million, while the net cash inflow from investment activities for the corresponding period was approximately RMB 4.3 million[87]. Strategic Initiatives - The group established significant partnerships with major platforms like Douyin and Taobao, enhancing its live e-commerce business[7]. - The company plans to enhance its live e-commerce capabilities and improve operational efficiency through technological advancements and strategic partnerships[29]. - The company aims to strengthen its brand image by implementing a data-driven and standardized product selection process[29]. - The company will continue to focus on innovation in live streaming content and formats to ensure sustainable traffic growth[29]. - The company aims to continuously evaluate development opportunities to strengthen competitive advantages and consolidate market leadership[39]. Share Award Schemes - The total number of shares that may be issued as rewards under the 2022 Share Incentive Plan shall not exceed 0.5% of the total issued shares as of December 8, 2022, which is not more than 6,556,354 shares[80]. - The 2022 Share Award Scheme aims to recognize and reward eligible participants for their contributions to the company's growth and development[99]. - The company has adopted the 2022 Share Award Scheme effective from December 8, 2022, to comply with the revised Listing Rules effective January 1, 2023[113]. - The total number of reward shares granted during the reporting period was 14,270,000, with 11,416,000 shares vested[133]. - The performance targets for the awards may include financial and non-financial parameters such as revenue and gross profit[117]. Management and Governance - The company’s management team has extensive experience in business management and strategic development, contributing to its operational success[164][165]. - The company’s board of directors includes members with significant expertise in finance and technology, supporting its strategic initiatives[165]. - The company’s financial management is overseen by Ms. Yang, who joined in May 2020 and holds a master's degree in economics[170]. - The company has independent non-executive directors who provide oversight and strategic guidance[173]. Other Financial Information - The income tax expense for the reporting period was approximately RMB 10.3 million, an increase attributed mainly to the profitability of the new media services segment[82]. - The total borrowing decreased from approximately RMB 163.1 million to RMB 126.8 million, primarily due to loan repayments[68]. - The company did not recommend the distribution of a final dividend for the year ended December 31, 2022, compared to no dividend in 2021[198].

Revenue and Profitability - The company's revenue for the reporting period was approximately RMB 425.6 million, an increase of 109.0% compared to RMB 202.8 million in the previous year[17]. - The gross profit for the reporting period was RMB 198.2 million, compared to RMB 64.3 million in the previous year, reflecting a significant improvement[17]. - Revenue from new media services reached RMB 302,511 million, contributing significantly to total revenue of RMB 425,606 million[32]. - The group reported a financial income of RMB 230,000 from short-term bank deposits, an increase from RMB 33,000 in the previous year[65]. - The gross profit for new media services was RMB 155.1 million, a substantial increase of 1,293.2% from RMB 11.1 million in the previous year[137]. - The group's revenue increased by approximately 109.9% to about RMB 425.6 million, compared to RMB 202.8 million in the previous year[178]. - The income from new media services significantly contributed to the revenue growth, particularly from platforms like Douyin and Taobao[178]. Loss and Expenses - The company reported a net loss attributable to owners of the company of RMB 9.2 million, a reduction of approximately 85.1% from RMB 61.6 million in the same period last year[1]. - The basic and diluted loss per share for the reporting period was RMB 0.80, compared to RMB 5.83 in the previous year[17]. - The company incurred financial expenses of RMB 11.6 million, down from RMB 16.2 million in the previous year, indicating improved financial management[17]. - The net loss for the year was RMB 68,724 thousand, primarily due to various expenses including financial costs of RMB 16,247 thousand and trade receivables impairment of RMB 6,124 thousand[33]. - The company recorded a net loss of approximately RMB 16.4 million for the reporting period, a reduction of 76.1% compared to a loss of RMB 68.7 million in the corresponding period[139]. - Income tax expense for the reporting period was approximately RMB 10.3 million, compared to a tax benefit of approximately RMB 3.5 million in the corresponding period[166]. Assets and Liabilities - Total assets increased to RMB 446,906 million, up from RMB 422,681 million, representing a growth of 5.8%[19]. - Non-current assets totaled RMB 93,978 million, an increase from RMB 77,964 million, reflecting a growth of 20.5%[19]. - Current assets rose to RMB 352,928 million, compared to RMB 344,717 million, marking an increase of 2.5%[19]. - The company’s total liabilities increased by RMB 47,693,000 from 2021 to 2022, reflecting a significant growth in financial obligations[114]. - The company reported a total liability of RMB 169,168,000 in 2022, up from RMB 121,475,000 in 2021, indicating an increase of 39.2%[114]. Employee and Operational Changes - The total number of employees as of December 31, 2022, was 785, a significant increase from 287 employees in the previous year[11]. - Employee benefits expenses increased to RMB 134,388 thousand, up from RMB 57,289 thousand in the previous year, indicating a significant rise in workforce costs[38]. - The company aims to strengthen its operational team and improve service reliability through enhanced training and standardized processes[141]. - Sales expenses surged by approximately 548.4% from RMB 10.9 million to RMB 70.9 million, attributed to hiring marketing talent for new media business expansion[191]. Financial Management and Strategy - The company has no hedging against its cash flow interest rate risk, which arises from floating-rate borrowings[6]. - The company has implemented control measures to monitor accounts receivable, with most trade receivables expected to be settled within three months to two years[88]. - The company plans to continue enhancing its technology and operational capabilities in the full media service sector, aiming to build a trusted brand image among consumers and businesses[141]. - The group has established a strategic partnership with Tesla Technology Group to enhance its video cloud services and intelligent video solutions[176]. Dividends and Share Capital - The company did not recommend any final dividend for the year ending December 31, 2022, consistent with the previous year[119]. - The company’s share capital rose to RMB 10,667 million from RMB 8,694 million, an increase of 22.7%[19]. - The total number of ordinary shares increased to 1,311,270,995 as of December 31, 2022, from 1,089,883,169 at the beginning of 2021[94].

Financial Performance - The company recorded a net loss of approximately RMB 30.0 million for the six months ended June 30, 2022, compared to a net loss of RMB 23.8 million for the corresponding period in 2021, reflecting an increase in loss [9]. - Total revenue for the company was approximately RMB 137.2 million for the six months ended June 30, 2022, representing a 23.5% increase from RMB 111.0 million in the corresponding period in 2021 [9]. - The gross profit for the company was approximately RMB 54.9 million, with a gross margin of 40.0%, compared to RMB 28.9 million and a gross margin of 26.0% in the corresponding period [9]. - The company achieved an adjusted net profit of approximately RMB 5.0 million under non-HKFRS, compared to an adjusted net loss of RMB 23.7 million in the corresponding period [9]. - The company reported a net loss of approximately RMB 30.0 million for the interim period, an increase from a net loss of about RMB 23.8 million in the corresponding period [37]. - The adjusted net profit/(loss) for the six months ended June 30, 2022, was RMB 4.986 million, compared to a loss of RMB 23.725 million for the same period in 2021 [40]. - The company reported a total comprehensive loss of RMB 29,245 thousand for the six months ended June 30, 2022, compared to a loss of RMB 20,916 thousand in the same period in 2021 [143]. - The company reported a net cash outflow from operating activities of approximately RMB 21.7 million for the interim period [41]. - The company reported a net loss of RMB 12,319,000 from other income/expenses, compared to a gain of RMB 3,566,000 in the same period last year [163]. Revenue Segments - Revenue from the application solutions segment decreased by approximately 19.0% to RMB 61.8 million, accounting for 45.0% of total revenue, down from 68.6% in the corresponding period [14]. - Revenue from the new media services segment increased significantly to RMB 52.9 million, representing 38.6% of total revenue, compared to RMB 7.7 million and 7.0% in the corresponding period [13]. - The new media services segment generated revenues of approximately RMB 52.9 million, RMB 22.0 million, and RMB 7.7 million for the respective periods, accounting for about 38.6%, 10.8%, and 7.0% of total revenue, indicating rapid and stable growth [15]. - The sales revenue from self-developed products decreased by approximately 29.9% to about RMB 16.3 million, representing about 11.9% of total revenue during the interim period [16]. - The system operation and maintenance services segment saw revenues increase by approximately 61.6% to about RMB 6.2 million, accounting for about 4.5% of total revenue [17]. Strategic Partnerships and Business Development - The company established a strategic partnership with TSL Technology Group to enhance video cloud services and intelligent video solutions [12]. - The company has obtained the qualification to provide comprehensive new media marketing services on the Douyin platform, enhancing its service capabilities in the new media sector [12]. - The company introduced several new marketing and management experts in the new media services field during the reporting period [12]. - The company signed a significant annual cooperation agreement with Douyin E-commerce, expecting a minimum GMV of RMB 5 billion over 12 months [61]. - An exclusive five-year cooperation agreement was established with "Jiao Ge Peng You" for the operation of Douyin accounts, with a commitment to formalize cooperation by November 1, 2022 [61]. - The company aims to optimize its capital structure to ensure sustainable operations and maximize shareholder returns [59]. - The company intends to expand and enrich its revenue sources by seeking more strategic partners [64]. Financial Position and Capital Structure - The total bank and other borrowings decreased from approximately RMB 163.1 million as of December 31, 2021, to approximately RMB 121.4 million as of June 30, 2022 [42]. - The current ratio decreased from approximately 1.12 as of December 31, 2021, to approximately 1.08 as of June 30, 2022 [43]. - The debt-to-equity ratio increased to 141.8% as of June 30, 2022, from 128.0% as of December 31, 2021 [45]. - The company maintained a capital structure focused on cash and cash equivalents, with nearly all borrowings at fixed interest rates [54]. - The company is committed to improving liquidity and financial conditions to meet obligations under outstanding convertible bonds [59]. - The company has not engaged in any significant investments or acquisitions during the interim period, nor does it have plans for major capital assets [48]. Share Incentive Plans - A total of 17,040,000 shares were granted to eleven selected participants under the share incentive plan, with 6,816,000 shares remaining unvested as of June 30, 2022 [83]. - The maximum number of shares that may be issued under the share option plan is capped at 100,000,000 shares, representing 10% of the total issued shares as of July 7, 2014 [91]. - The share option plan will remain effective for ten years starting from June 13, 2014, with less than two years remaining as of the mid-term report date [102]. - The share incentive plan and share option plan are designed to reward selected participants for their contributions to the group [87]. - The board approved the 2018 plan for a total of 57,670,000 share options at an exercise price of HKD 0.222 per share [105]. - The 2020 plan includes 7,000,000 share options at an exercise price of HKD 0.067 per share, with 4,000,000 options granted to executive director Li Jinping [107]. Employee and Management Information - The company has a total employee count of 312 as of June 30, 2022, an increase from 287 employees at the end of 2021 [125]. - The company has established a compensation policy that includes basic salary, allowances, benefits, and contributions to social insurance and mandatory provident funds [125]. - The company encourages employee training and professional development to support business growth and future success [127]. - Executive directors' annual salaries were reduced to HKD 1,075,200 and HKD 537,600 respectively, effective June 27, 2022, as part of a compensation adjustment [128]. Asset and Liability Management - Total assets as of June 30, 2022, were RMB 375,293 thousand, down from RMB 422,681 thousand as of December 31, 2021, showing a decrease in asset base [137]. - Current assets decreased to RMB 297,798 thousand from RMB 344,717 thousand, indicating a reduction in liquidity [137]. - Total liabilities decreased to RMB 306,413 thousand, down 8.3% from RMB 334,287 thousand in the previous year [141]. - The company’s total equity attributable to owners was RMB 55,000 thousand as of June 30, 2022, down from RMB 65,800 thousand at the end of the previous year [143]. - The company incurred interest expenses of RMB 5,161 thousand for the six months ended June 30, 2022, compared to RMB 3,435 thousand in the previous year [151].

Financial Performance - The company's revenue increased by approximately 32.3% from about RMB 153.3 million in the previous year to approximately RMB 202.8 million in the reporting period[6]. - Gross profit rose by about 15.2% from approximately RMB 55.9 million to approximately RMB 64.3 million during the same period[6]. - Loss attributable to owners decreased by approximately 36.8% from about RMB 97.5 million to approximately RMB 61.6 million[6]. - The application solutions segment generated revenue of RMB 121.4 million, accounting for 59.9% of total revenue, an increase from RMB 95.2 million (62.1%) in the previous year[18]. - The system maintenance services segment's revenue decreased by approximately 12.3% to RMB 12.0 million, representing 5.9% of total revenue, down from RMB 13.7 million (8.9%) in the previous year[19]. - The self-developed product sales segment's revenue rose by approximately 22.8% to RMB 47.4 million, accounting for 23.4% of total revenue, compared to RMB 38.6 million (25.2%) in the previous year[20]. - The group's cost of sales increased by approximately 42.1% to RMB 138.5 million, up from RMB 97.5 million in the previous year[22]. - The gross profit for the group was approximately RMB 64.3 million, an increase of about 15.2% from RMB 55.9 million in the previous year, with a gross margin of 31.7%[24]. - Other income decreased from approximately RMB 6.6 million to RMB 4.2 million, mainly due to fair value losses on financial assets measured at fair value through profit or loss[28]. - Administrative expenses increased by approximately 0.8% from RMB 79.6 million to RMB 80.2 million, despite the merger with Beijing GeFei[29]. - Financial expenses increased by approximately 11.1% from RMB 14.6 million to RMB 16.2 million, primarily due to a higher average loan balance during the reporting period[31]. - Cash generated from operating activities was approximately RMB 7.8 million, compared to a cash outflow of RMB 1.6 million in the corresponding period[37]. - The company's distributable reserves as of December 31, 2021, were approximately RMB 21.0 million, down from RMB 58.2 million in 2020[119]. New Media Services - The new media services segment generated revenue of approximately RMB 22.0 million, accounting for about 10.8% of total revenue during the reporting period[7]. - The new media services segment experienced a revenue increase of approximately 274.4%, with revenues of RMB 1.9 million, RMB 5.9 million, and RMB 22.0 million for the years 2019, 2020, and 2021, respectively, accounting for 1.0%, 3.8%, and 10.8% of total revenue[15]. - The new media services segment saw a significant revenue increase of approximately 274.4% to RMB 22.0 million, up from RMB 5.9 million, representing 10.8% of total revenue[21]. - The company plans to accelerate cooperation with new media e-commerce organizations to establish extensive customer relationships, recognizing the intense competition in this segment[10]. - The company is actively exploring strategic partnerships to accelerate growth in the new media business[7]. - The workforce in the new media services business increased from 22 to 108 employees during the reporting period, reflecting the company's commitment to resource investment and innovation in this area[15]. - The company plans to continue expanding its new media services business, investing more resources to capture market opportunities[24]. Research and Development - The company is focusing on enhancing R&D and service capabilities to expand its high-margin business[7]. - The company will continue to focus on technological innovation and increase R&D investment to enhance video streaming technology and new media service capabilities[10]. - The company aims to improve its governance structure and attract top talent to enhance team cohesion and combat talent competition[10]. - The company is committed to diversifying its development strategy, leveraging over a decade of experience in streaming video technology to capitalize on opportunities in the new media market[10]. Governance and Management - The company has a robust governance structure with independent directors contributing to its strategic oversight[104]. - The board of directors consists of seven members, including four executive directors and three independent non-executive directors, as of December 31, 2021[171]. - The company has established a code of conduct to communicate its values and acceptable decision-making standards to all employees[200]. - The board is responsible for reviewing and monitoring the company's compliance with legal and regulatory policies[196]. - The company has established four committees: audit, remuneration, nomination, and investment, with a majority of independent non-executive directors on the audit, remuneration, and nomination committees[182]. - The company has a strong management team with diverse backgrounds in media and technology, enhancing its strategic capabilities[98][99]. - The company has a commitment to innovation, as evidenced by its leadership's experience in developing new products and services in the tech space[102][103]. Shareholder and Capital Structure - The company issued convertible bonds amounting to HKD 47.0 million, significantly improving cash flow and demonstrating investor confidence in its development strategy[7]. - The total outstanding convertible bonds amounted to HKD 47 million at the end of the reporting period[116]. - The company has not issued any equity securities for cash during the reporting period, apart from the convertible bonds[51]. - Major shareholders held significant stakes, with Starlink Vibrant owning 323,500,334 shares (29.68%) and Yoshiaki Holding Corp holding 303,594,303 shares (27.86%) as of December 31, 2021[141]. - The company has not issued any preferential subscription rights for new shares to existing shareholders as per its articles of association[114]. Market Position and Strategy - The company has maintained a leading position in the video industry, focusing on providing one-stop video application solutions[91]. - Advanced technologies such as 4K/8K, 5G, and video media live streaming are reshaping the media industry, creating new opportunities for the company's video streaming technology[92]. - The company plans to expand its new media business centered on live streaming and new media marketing, enhancing service capabilities through collaborations with major institutions[92]. - The company aims to diversify its business by optimizing its industry layout and focusing on full-media application solutions in video services[93]. - The company is positioned to leverage its extensive industry knowledge and networks for future growth opportunities[99]. Risk Management - The company is focused on identifying and managing key risks and uncertainties that may affect its operations[153]. - The board's risk management system aims to manage risks rather than eliminate them, providing reasonable assurance against material misstatements[199]. - The company has a process for identifying and managing significant risks and internal control deficiencies[200]. - The company confirmed that no significant risks or internal control weaknesses were identified during the year ending December 31, 2021[200]. Employee Relations - The company maintained good relationships with employees, emphasizing communication, training, and work-life balance throughout the year[156]. - The total number of employees increased to 287 as of December 31, 2021, compared to 275 in 2020[122]. - The company has established a compensation policy that includes basic salary, allowances, benefits, and other components[123]. Environmental Responsibility - The company is committed to environmental responsibility, actively managing its operational impact and promoting energy-saving practices[154].