Revenue Performance - Revenue for the six months ended June 30, 2021, was RMB 245,241,000, representing a 12.8% increase from RMB 217,395,000 in the same period of 2020[19]. - Revenue from online advertising services surged by 350.8% to RMB 90,991,000, compared to RMB 20,186,000 in the prior year[21]. - Outdoor advertising services revenue increased by 83.8% to RMB 75,246,000, up from RMB 40,950,000 in the previous year[21]. - Revenue from TV advertising services was approximately RMB 70.3 million during the review period[33]. - Revenue from online advertising services amounted to approximately RMB 91.0 million during the review period[35]. - Revenue from outdoor advertising services was approximately RMB 75.2 million during the review period[42]. - Revenue from other advertising services totaled approximately RMB 8.7 million during the review period[43]. - The Group recorded revenue of approximately RMB 245.2 million, representing an increase of approximately 12.8% compared to RMB 217.4 million for the corresponding period last year[50]. - Revenue from TV advertising services was RMB 70.3 million, a decrease of 46.4% from RMB 131.3 million for the corresponding period last year, primarily due to a shift to online and outdoor advertising[50]. - Revenue from online advertising services was RMB 91.0 million, an increase of approximately 350.5% from RMB 20.2 million for the corresponding period last year, driven by increased advertising investment from customers[50]. - Revenue from outdoor advertising services was RMB 75.2 million, an increase of 83.4% from RMB 41.0 million for the corresponding period last year, also due to increased advertising investment from customers[50]. Profitability and Income - Profit before tax for the period was RMB 9,751,000, reflecting a 16.9% increase from RMB 8,341,000 in the same period of 2020[19]. - The total comprehensive income attributable to owners of the company for the period was RMB 5,699,000, a decrease of 35.3% from RMB 8,809,000 in the previous year[20]. - Earnings per share decreased to RMB 0.01, down 50.0% from RMB 0.02 in the same period of 2020[20]. - The Group's profit for the period was RMB 5,699,000, compared to a loss in the previous period, indicating a positive turnaround in financial performance[153]. Market Conditions and Strategy - The advertising market in China grew by 27.3% year-on-year in the first quarter of 2021, indicating a recovery from the pandemic[24]. - The company aims to consolidate its market position amidst ongoing economic recovery and challenges posed by the pandemic[24]. - The company focused on providing high-quality tailored creative solutions and diversified advertising services to enhance competitiveness during the pandemic[28]. - The company aims to gradually recover and achieve better results in the post-pandemic era through its efforts[28]. - The advertising industry faces challenges due to global economic growth slowdown and trade frictions, but the Company remains confident in the medium to long-term prospects of China's economy[100]. - The advertising industry faces significant pressure and challenges in the post-pandemic era, impacting market conditions[105]. - The company plans to focus on its strengths in TV advertising and enhance its core competencies in content marketing communications in the second half of 2021[108]. - The group will continue to develop its online advertising business, leveraging big data and precision placement technology to improve service capabilities[109]. - The company aims to provide one-stop digital marketing solutions to enhance clients' placement effectiveness and brand influence on the internet[110]. Financial Position and Assets - As of June 30, 2021, the Group's trade receivables, prepayments, and other receivables amounted to approximately RMB 413.4 million, representing an increase of approximately 20.5% compared to RMB 343.1 million as of December 31, 2020[60]. - The Group's total assets as of June 30, 2021, increased to RMB 454,223,000, up from RMB 407,409,000 as of December 31, 2020, representing a growth of approximately 11.5%[149]. - Total equity attributable to the owners of the Company reached RMB 222,898,000 as of June 30, 2021, up from RMB 217,199,000 at the end of 2020, reflecting a growth of approximately 2.5%[149]. - The Company’s total liabilities increased to RMB 231,236,000 as of June 30, 2021, compared to RMB 190,086,000 at the end of 2020, representing an increase of approximately 21.7%[149]. Expenses and Cost Management - Selling and marketing expenses were approximately RMB 3.4 million, a decrease of approximately 39.3% from RMB 5.6 million for the corresponding period last year, mainly due to a reduction in employees and salary cuts[52]. - Administrative expenses amounted to approximately RMB 4.5 million, a decrease of approximately 48.9% from RMB 8.8 million for the corresponding period last year, primarily due to reduced consultancy fees and renovation costs[53]. - Staff costs for the period amounted to approximately RMB 5.0 million, a decrease of RMB 3.4 million or approximately 40.5% compared to RMB 8.4 million in the same period last year[98]. - The Group employed a total of 40 full-time employees as of June 30, 2021, down from 62 employees a year earlier, reflecting a decrease of 22 employees due to the impact of the COVID-19 pandemic[97]. Shareholding and Corporate Governance - As of June 30, 2021, Yingheng Co., Ltd. holds 161,704,734 shares, representing approximately 40.43% of the company's interest[133]. - Ms. Wang Lei has an interest in a controlled corporation, also holding 161,704,734 shares, equating to approximately 40.43% of the company's interest[133]. - Jujia holds 36,761,102 shares, which is about 9.19% of the company's interest[133]. - The company has complied with the Corporate Governance Code and the Model Code for Securities Transactions during the six months ended June 30, 2021[113][117]. Cash Flow and Financing Activities - Net cash from operating activities for the six months ended June 30, 2021, was RMB 3,287,000, a significant improvement from a net cash used of RMB 50,472,000 in the same period of 2020[157]. - Cash and cash equivalents at the end of the period amounted to RMB 9,478,000, compared to RMB 70,365,000 at the end of June 30, 2020, showing a decrease of approximately 86.5%[157]. - The Company reported a net cash used in financing activities of RMB 11,127,000 for the first half of 2021, contrasting with a net cash inflow of RMB 32,754,000 in the same period of 2020[157]. - Long-term borrowings decreased to RMB 30,000,000 as of June 30, 2021, down from RMB 50,000,000 at the end of 2020, indicating a reduction of 40%[149]. Compliance and Reporting - The Group's unaudited interim financial statements were prepared in accordance with International Accounting Standard 34, indicating compliance with international financial reporting standards[163]. - The audit committee reviewed the unaudited interim results and confirmed compliance with applicable accounting principles and standards[142]. - The Group has applied new amendments to IFRSs, including those related to interest rate benchmark reform, effective from January 1, 2021, with no material impact on financial performance[170][172].

Financial Performance - Revenue for the year ended December 31, 2020, was RMB 446,993,000, a decrease of 47.15% compared to RMB 845,820,000 in 2019[13] - Gross profit for 2020 was RMB 40,299,000, down 62.28% from RMB 106,828,000 in the previous year[13] - Profit before tax decreased by 92.20% to RMB 4,376,000 in 2020 from RMB 56,134,000 in 2019[13] - Profit for the year was RMB 2,826,000, a decline of 92.22% compared to RMB 36,304,000 in 2019[13] - Basic earnings per share fell to 0.71 cents, down 93.87% from 11.59 cents in the previous year[13] - The Group's profit for the Reporting Period was approximately RMB 2.826 million, a decrease of 92.20% from RMB 36.304 million for the corresponding period last year[84] - Other income, gains, and losses amounted to approximately RMB 10.369 million, representing a decrease of 26.40% from RMB 14.088 million for the corresponding period last year[73] - Selling and marketing expenses were approximately RMB 9.726 million, a decrease of 35.58% from RMB 15.098 million for the corresponding period last year[74] - Administrative expenses were approximately RMB 14.016 million, a decrease of 1.63% from RMB 14.248 million for the corresponding period last year[75] - The income tax expense for the reporting period was approximately RMB 1.550 million, a decrease of approximately 92.18% compared to RMB 19.830 million in the same period last year[89] Revenue Breakdown - Revenue from TV advertising services was RMB 233,432,000, a decrease of 24.48% from RMB 309,082,000 in 2019[14] - Revenue from online advertising services dropped significantly by 79.43% to RMB 89,200,000 from RMB 433,593,000[14] - Outdoor advertising services revenue increased by 13.62% to RMB 72,079,000 compared to RMB 63,441,000 in 2019[14] - Other advertising services revenue rose by 31.68% to RMB 52,282,000 from RMB 39,704,000 in the previous year[14] - Revenue from digital advertising services amounted to approximately RMB 89.2 million[52] - Revenue from outdoor advertising services was approximately RMB 72.079 million[53] - Revenue from other advertising services totaled approximately RMB 52.282 million[59] - During the Reporting Period, revenue from online advertising services was RMB 89.200 million, representing a decrease of 79.43% from RMB 433.593 million for the corresponding period last year[62] Market Conditions - In 2020, the overall advertising market experienced a significant decline in spending due to the COVID-19 pandemic, impacting various sectors including consumer, transport, and entertainment[31] - The overall advertising market in China experienced a year-on-year decline of 11.6% in 2020 due to the COVID-19 pandemic[46] - The Group maintains confidence in the medium to long-term prosperity of China's economy despite challenges such as global economic slowdown and trade frictions between the United States and China[32] - The Group expects certain room for year-on-year growth in the advertising market in 2021, despite ongoing pressures on its own year-on-year growth[121] Strategic Focus and Future Plans - In 2021, the Group will focus on enhancing efficiency and maintaining stable operations during the economic downturn while laying a solid foundation for future development[32] - The Group aims to strengthen its core competency in content marketing communications and provide tailor-made creative content and communication solutions[34] - The strategy includes maintaining existing quality customers and enhancing brand influence through efficient TV advertising communication[34] - The Group plans to explore content integration and seek in-depth cooperation opportunities through R&D, investment, and operation in brand-customized variety shows and IP direction[34] - The Group is committed to maintaining its leading market share in the television advertising business while adapting to market changes[34] - The Group will continue to implement measures to address short-term market challenges and enhance operational efficiency[32] - The Group aims to create value through a business strategy focused on customer service and innovative breakthroughs[43] - Continued investment in content marketing and communications is planned to provide quality integrated content communication services, enhancing customer brand value[122] - The digital advertising business will be steadily developed, utilizing big data and precision placement technology to enhance internet integration service capabilities[122] Management and Governance - Ms. Li Na, aged 43, is the executive director and chairlady of the Board, overseeing overall management and strategic planning since April 2003[134] - Mr. Feng Xing, aged 43, serves as the executive director and general manager, responsible for day-to-day planning and implementation of business strategies since August 2004[135] - The company has over 19 years of experience in the advertising industry, with key management personnel having extensive backgrounds in media and marketing[136] - The management team includes independent non-executive directors, enhancing corporate governance and oversight[134] - The company has a strong focus on strategic planning and business development, aiming for market expansion and innovation in advertising[134] - The Board currently consists of four executive Directors and three independent non-executive Directors, ensuring a balanced governance structure[188] - The Company has complied with all code provisions set out in the CG Code during the Reporting Period, maintaining high corporate governance standards[183] - Independent non-executive Directors represent more than one-third of the Board, providing checks and balances to safeguard shareholder interests[191] - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, to oversee specific aspects of the Company's affairs[198] Financial Position - As of December 31, 2020, the group's total assets amounted to approximately RMB 407.409 million, with equity attributable to the owners of the company at approximately RMB 217.199 million[100] - The gearing ratio increased from approximately 47.76% as of December 31, 2019, to approximately 58.32% as of December 31, 2020, primarily due to an additional loan of RMB 50 million[111] - The group's bank balances and cash as of December 31, 2020, were approximately RMB 17.772 million, a decrease from RMB 68.034 million in the previous year[99] - Trade receivables, prepayments, and other receivables amounted to approximately RMB 343.142 million, representing a decrease of 22.66% compared to RMB 443.700 million last year[86] - The group's impairment loss on receivables for the reporting period was approximately RMB 14.031 million, an increase of about RMB 5.089 million or 56.9% compared to the same period last year[88] - Trade and other payables decreased by approximately 80.77% to RMB 46.260 million from RMB 240.535 million in the previous year[95] - Tax payables decreased by approximately 24.75% to RMB 15.140 million from RMB 20.120 million in the previous year[103]

Revenue Performance - For the six months ended June 30, 2020, the company's revenue decreased by 42.2% to RMB 217,395,000 compared to RMB 375,815,000 for the same period in 2019[16]. - Online advertising services revenue saw a significant decline of 89.8%, dropping to RMB 20,186,000 from RMB 198,339,000 year-on-year[19]. - Revenue from TV advertising services was approximately RMB 131.3 million, representing a decrease of approximately 2.0% from RMB 134.0 million for the corresponding period last year[42]. - Revenue from outdoor advertising services amounted to approximately RMB 41.0 million during the period under review[35]. - Revenue from other advertising services amounted to approximately RMB 24.9 million during the period under review[36]. - Revenue from digital advertising services was approximately RMB 20.2 million, a year-on-year decrease of about 89.8% from RMB 198.3 million due to the impact of the COVID-19 pandemic[46]. - Revenue from outdoor advertising services remained stable at approximately RMB 41.0 million, unchanged from the corresponding period last year[49]. - Revenue from other advertising services increased approximately 910.7% to RMB 24.9 million from RMB 2.5 million, mainly due to new production planning services provided to a pharmaceutical company and a home appliance customer[50]. - Revenue for the six months ended June 30, 2020, was RMB 217,395,000, a decrease of 42.1% compared to RMB 375,815,000 for the same period in 2019[161]. - The Group's revenue from household furnishing and electronics advertising increased to RMB 68,383,000, up from RMB 29,107,000, marking a growth of 134.0%[196]. - Revenue from pharmaceuticals advertising rose to RMB 54,510,000, compared to RMB 27,908,000, representing a growth of 95.5%[196]. Profitability and Financial Metrics - The company's gross profit for the period was RMB 8,341,000, a decrease of 40.0% from RMB 13,909,000 in the previous year[18]. - The Group's profit before tax for the period was significantly impacted, reflecting the challenging business environment due to the pandemic[21]. - The company reported a basic and diluted earnings per share of RMB 0.02, down 50.0% from RMB 0.04 in the previous year[18]. - Profit attributable to the owners of the Company was approximately RMB 8.8 million, down from RMB 13.1 million in the corresponding period last year, representing a decrease of approximately 32.8%[51]. - Gross profit was approximately RMB 24.5 million with a gross profit margin of 11.3%, compared to RMB 39.4 million and 10.5% in the same period last year[52]. - Total comprehensive income for the period attributable to owners of the Company was RMB 8,809,000, down 32.9% from RMB 13,100,000 in 2019[161]. - Profit before tax decreased to RMB 8,341,000, representing a decline of 40.2% from RMB 13,909,000 in the same period of 2019[161]. Impact of COVID-19 - The COVID-19 pandemic led to a 1.6% year-on-year decrease in China's GDP during the first half of 2020, with a first quarter decrease of 6.8%[24]. - The COVID-19 pandemic severely impacted the advertising market, with a reported 25.5% decline in overall media advertising spending in the first quarter of 2020 compared to the previous year[28]. - The Group's online advertising business faced significant challenges due to clients suspending mobile game advertising and requiring longer credit periods, affecting cash flow and new business development[43]. - The overall advertising market dropped sharply in the first half of 2020, creating difficulties for the Group's new business development and acquisition efforts[43]. - The Group's quick response to the pandemic included providing high-quality tailored creative solutions and continuing a diversified approach to promotional advertising services[25]. - The Group focused on stabilizing its operations and enhancing its core competitive advantages during the pandemic[29]. Expenses and Cost Management - Selling and marketing expenses decreased by approximately 24.8% to RMB 5.6 million from RMB 7.5 million, accounting for about 2.6% of total revenue[60]. - Administrative expenses decreased by approximately 32.9% to RMB 8.8 million from RMB 13.1 million, representing about 4.0% of total revenue[61]. - Finance costs decreased by approximately 4.4% to RMB 3.8 million from RMB 4.0 million, mainly due to reduced bank loan interest rates[62]. - Impairment losses on receivables were approximately RMB 5.0 million, a decrease from RMB 5.9 million in the previous year, attributed to a decrease in trade receivables[63]. Cash Flow and Financial Position - As of June 30, 2020, the group's bank balances and cash amounted to approximately RMB 70.4 million, an increase from RMB 68.0 million as of December 31, 2019[78]. - The company's cash and bank balances amounted to approximately RMB 70.4 million as of June 30, 2020, compared to RMB 68.0 million as of December 31, 2019, with about 49.9% in RMB and 50.1% in HKD and other currencies[83]. - The company's gearing ratio increased from approximately 47.8% as of December 31, 2019, to approximately 59.8% as of June 30, 2020, mainly due to borrowing for daily operations[95]. - The net cash generated from financing activities was RMB 32,754,000, significantly higher than RMB 2,278,000 in the same period of 2019[174]. - As of June 30, 2020, net cash used in operating activities was RMB 50,472,000, compared to RMB 14,752,000 for the same period in 2019[174]. Corporate Governance and Compliance - The Group has complied with the Corporate Governance Code and the Model Code for Securities Transactions during the reporting period[121][122]. - The Audit Committee reviewed the unaudited interim results for the six months ended June 30, 2020, confirming compliance with applicable accounting principles and standards[155]. - The Company has established an Audit Committee in compliance with the Corporate Governance Code[153]. Future Outlook and Strategic Plans - The long-term positive development outlook of China's economy remains unchanged despite the impact of the COVID-19 pandemic[115]. - The Group plans to enhance investment in internet advertising and content marketing to maintain stable operations during the economic downturn and support medium to long-term development[116]. - The Group aims to improve online marketing capabilities and provide one-stop online marketing solutions to more customers by leveraging internet media resources[117]. - In outdoor advertising, the Group will strengthen market expansion in subway TV advertising and explore new advertising methods using new technologies[118]. - The company aims to enhance its market position in TV advertising and further develop its online and outdoor advertising businesses using the IPO proceeds[98]. Shareholding and Corporate Structure - As of June 30, 2020, the company had no outstanding, granted, cancelled, exercised, or lapsed share options under the Share Option Scheme adopted on October 22, 2019[133]. - The company’s directors and chief executives held the following shares: Ms. Li Na (36,761,102 shares, 9.19%), Mr. Feng Xing (17,645,329 shares, 4.41%), Ms. Wang Xin (25,246,606 shares, 6.31%), and Mr. Leng Xuejun (14,781,639 shares, 3.70%) as of June 30, 2020[140]. - As of June 30, 2020, Yingheng Co., Ltd. holds 161,704,734 shares, representing approximately 40.43% of the company's total issued share capital[148]. - The Board did not recommend the payment of an interim dividend for the six months ended June 30, 2020, consistent with the previous year[156]. Miscellaneous - There were no significant investments, material acquisitions, or disposals of subsidiaries or associated companies during the review period[77]. - The Group's head office was relocated to a new address in Beijing on August 11, 2020[113]. - The company was incorporated on January 15, 2019, and its shares were listed on the Hong Kong Stock Exchange on November 12, 2019[176].

Financial Performance - Revenue for the year ended December 31, 2019, was RMB 845,820,000, representing an 8.0% increase from RMB 783,364,000 in 2018[20] - Gross profit for 2019 was RMB 106,828,000, up 11.7% from RMB 95,611,000 in the previous year[20] - Profit before tax decreased by 10.1% to RMB 56,134,000 from RMB 62,469,000 in 2018[20] - Profit attributable to the owners of the Company fell by 22.1% to RMB 36,304,000 compared to RMB 46,623,000 in 2018[20] - Earnings per share on continuing operations decreased by 21.4% to RMB 12 cents from RMB 16 cents in the previous year[20] - For the Reporting Period, the Group recorded revenue of approximately RMB845.8 million, representing an increase of 8.0% from approximately RMB783.4 million for the year ended 31 December 2018[77] - The profit attributable to the owners of the company was approximately RMB 36.3 million, a decrease of about 21.4% from RMB 46.1 million last year, primarily due to increased listing expenses[87] - Excluding listing expenses, profit attributable to the owners was approximately RMB 55.2 million, representing a year-on-year increase of approximately 9.8%[87] Advertising Revenue Breakdown - TV advertising services generated RMB 309,082,000, while online advertising services contributed RMB 433,593,000, showing a year-on-year change of -41.4% and +121.4% respectively[22] - Revenue from TV advertising services was approximately RMB309.1 million, representing a decrease of approximately 41.4% from approximately RMB527.0 million for the year ended 31 December 2018[78] - Revenue from online advertising services was approximately RMB433.6 million, representing an increase of approximately 121.4% from approximately RMB195.8 million for the year ended 31 December 2018[79] - Revenue from outdoor advertising services was approximately RMB63.4 million, representing an increase of approximately 23.0% from approximately RMB51.6 million for the year ended 31 December 2018[80] - Revenue from other advertising services surged approximately 345.4% to RMB 39.7 million from RMB 8.9 million for the previous year[86] Awards and Recognition - The Company was awarded "Greater China Region Content Marketing Company of The Year" in May 2019 by IAI International Advertising Executive Committee[30] - The Company received the "Five Star Alliance Business Partner of 2019" award in October 2019 from five major satellite TV channels[31] - Ruicheng (China) Media Group Limited won the "Best Content Marketing Company in Greater China" award at the 19th IAI International Advertising Awards in May 2019[32] - The company received the "Best Partner Award" from the Five-Star Alliance in October 2019, recognizing its contribution to integrated marketing services[33] - The project cooperation case with China Mobile & Kugou Music won a Bronze Prize in the Mobile Marketing category at the 19th IAI International Advertising Awards in April 2019[36] - The cooperation case "Knowledge is Power" for Casarte won the Gold Prize for TV Case at the 11th China Advertising Golden Vision Awards in May 2019[37] - The project "Friends of Time" for Casarte received the Annual Brand Building Golden Award at the China International Advertising Festival 2019 in October 2019[41] - The "Art of Life Super Press Conference" for Casarte won the Annual In-depth Marketing Award at the China International Advertising Festival 2019 in October 2019[42] - The award-winning works demonstrate the company's expertise in digital marketing and creative strategy, gaining industry recognition[38][39] - The company emphasizes the importance of innovative spirit and high-quality cases in the advertising industry, as highlighted by the awards received[43][44] - The awards reflect the company's commitment to enhancing its competitive edge through diverse marketing strategies and collaborations[33][41] - The recognition from prestigious awards showcases the company's successful integration of online and offline marketing efforts[42][44] Strategic Initiatives and Future Plans - The Group's strategy for 2020 includes focusing on existing advantages and core competitiveness to maintain stable operations during the economic downturn[52] - The Group aims to enhance creative design and communication capabilities in TV advertising services, developing content marketing to increase brand value for customers[53] - In online advertising, the Group plans to improve integrated service capacity and provide one-stop marketing solutions using big data and precision placement technologies[54] - The Group will strengthen market expansion in subway TV advertising and enhance brand communication through cross-platform content dissemination[55] - The focus for 2020 includes trending marketing strategies such as sports, knowledge, and experiential marketing to maximize advertising investment returns for clients[56] - The Group plans to enhance its market position in TV advertising, further develop its online advertising business, and strengthen its outdoor advertising business[115] - The Group will continue to invest in internet capabilities to stimulate innovation and maintain stable operations during economic downturns[114] - The Group aims to improve its data analytical capabilities and enhance its market reputation[122] Corporate Governance and Management - The company has a strong management team with over 18 years of experience in the advertising industry[132][134] - The Board of Directors includes a mix of executive and independent non-executive directors, ensuring a balance of power and authority within the company[181] - The company has complied with the corporate governance code provisions during the relevant period, maintaining high standards of governance practices[177] - The Independent Non-executive Directors represent more than one-third of the Board, providing checks and balances to safeguard shareholder interests[190] - The company has received annual written confirmations of independence from each Independent Non-executive Director, ensuring compliance with Listing Rules[191] - The company has appointed at least three Independent Non-executive Directors, fulfilling the requirements of the Listing Rules[192] - The Chairlady of the Board and the General Manager are held by separate individuals to ensure a clear segregation of duties[181] - The Board is responsible for overall leadership and strategic decisions, delegating day-to-day management to senior management[194] - The Board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific aspects of the Company's affairs[195] - Regular Board meetings are held at least four times a year, with majority participation from directors[198] - The management is responsible for implementing the strategy set by the Board and ensuring operational efficiency[197] Market Conditions and Challenges - Advertisers' confidence declined in 2019, with the proportion of advertisers increasing budgets at the lowest level in a decade, leading to a cautious approach in budget expenditures[64] - The impact of COVID-19 on the Group's financial position is currently uncertain, but the long-term outlook for China's economy remains positive[113] - The company does not have an interest rate hedging policy and is exposed to cash flow interest rate risk due to fluctuations in market interest rates[111] IPO and Financial Position - The listing date on the Hong Kong Stock Exchange was November 12, 2019[28] - Approximately 74.4% of the net proceeds from the initial public offering (approximately HK$58.6 million) had been utilized by December 31, 2019[122] - The net proceeds raised from the initial public offering amounted to approximately HK$78.8 million after deducting related expenses[116] - The allocation of unutilised IPO Net Proceeds includes 42.2% for online advertising, 30.0% for outdoor advertising, and 12.3% for strengthening strategy formulation and data analytical capabilities[126] - The company expects to utilise the IPO Net Proceeds within two years from the Listing Date[127] - The unutilised amount of IPO Net Proceeds as of the annual report date is HK$20.2 million[126] - The revised allocation of unutilised IPO Net Proceeds includes HK$4.3 million for general working capital purposes[126]