Group 1 - IMAX China reported a net profit of $23.9 million for the first half of the year, compared to $12.6 million in the same period last year [1]

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分內容而產生或因依賴該等內容而引致的任何損失承擔任何 責任。 IMAX CHINA HOLDING, INC. （於開曼群島註冊成立的有限公司） （股份代號：1970） 截 至 2025 年 6 月 3 0 日止六個月的中期業績公告 及 內幕消息 控股股東 IMAX CORPORATION 發佈了 2025 年財政年度第二季度及上半年的 未經審計業績及季度報告 中期業績公告 IMAX China Holding, Inc.（「本公司」或「IMAX China」）董事會宣佈本公司及其附屬公司 （統稱「本集團」）截至2025年6月30日止六個月的未經審計綜合中期業績。中期業績已經本 集團外部核數師及審計委員會審閱。 內幕消息 本公告乃根據《證券及期貨條例》（第571章）第XIVA部之內幕消息條文及《香港聯合交易所 有限公司證券上市規則》第13.09條作出。 我們的控股股東IMAX Corporation已於2025年7月24日（紐約時間）發佈了2025年第二季度 的未經 ...

Financial Performance & Growth - IMAX reported a 40% growth in global box office market share from 2018 through 1Q25[11] - The company's 1Q25 Total Adjusted EBITDA margin was 43%[11], exceeding the FY25 guidance of 40%+[96] - IMAX projects over $12 billion in IMAX Box Office revenue for 2025[36] - The company has repurchased 19% of shares outstanding since 2020[11, 124] Network Expansion & Backlog - IMAX's global network scale includes 1,738 systems[11] across 89 countries and territories[11, 38] - The company has a contracted IMAX system backlog of 516 systems[11, 42] - International markets (excluding China) have seen over 27% network growth since pre-pandemic (year-end 2019 to March 31, 2025)[14] Content & Strategy - IMAX is increasing its connection with studios and filmmakers, expecting a record 11 Filmed For IMAX (FFI) Hollywood titles in 2025[11] - The company expects over 60 local language titles in 2025, demonstrating a 27% CAGR from 2019-2024[86, 87] - IMAX is partnering with streaming platforms to eventize and launch content[75] Financial Position - As of March 31, 2025, IMAX has $4015 million in total liquidity[117] - The company's net debt to TTM Total Adjusted EBITDA is 128x[119]

6月3日港股公司回购一览 腾讯控股回购数量99.40万股，回购金额5.00亿港元，回购最高价为505.000港元，最低价为501.000港 元，年内累计回购金额270.31亿港元；友邦保险回购数量600.00万股，回购金额4.03亿港元，回购最高 价为67.650港元，最低价为66.550港元，年内累计回购金额114.12亿港元；快手-W回购数量200.00万 股，回购金额1.02亿港元，回购最高价为51.350港元，最低价为50.950港元，年内累计回购金额19.11亿 港元。 以金额进行统计，6月3日回购金额最多的是腾讯控股，回购金额为5.00亿港元；其次是友邦保险，回购 金额为4.03亿港元；回购金额居前的还有快手-W、恒安国际等。回购数量上看，6月3日回购股数最多 的是友邦保险，当日回购量为600.00万股；其次是中远海发、有赞等，回购数量分别为462.70万股、 200.00万股。 值得关注的是，非凡领越本次回购为年内首次进行回购。本次回购5.00亿港元的腾讯控股，年内则进行 多次回购，合计回购金额为270.31亿港元。（数据宝） 证券时报·数据宝统计显示，6月3日有40家香港上市公司进行了股份回购 ...

| 思派健康(00314) | 5.00 万 | 18.72 万 | 1383.92 万 | 1.815% | | --- | --- | --- | --- | --- | | 中国有赞(08083) | 200.00 万 | 18.20 万 | 1920.00 万 | 0.059% | | 骏杰集团控股(08188) | 10.00 万 | 8.40 万 | 20.00 万 | 0.042% | | 滨海投资(02886) | 5.60 万 | 5.66 万 | 31.20 万 | 0.023% | | 玄武云(02392) | 2.90 万 | 2.62 万 | 339.05 万 | 0.605% | | 天福(06868) | 3000.00 | 9530.00 | 17.30 万 | 0.016% | | 清科创业(01945) | 3600.00 | 5300.00 | 10.92 万 | 0.036% | | 彩客新能源(01986) | 7000.00 | 4910.00 | 27.90 万 | 0.029% | | 华检医疗(01931) | 2000.00 | 4260.00 | 182. ...

Summary of Key Points Core Viewpoint - On May 19, 38 Hong Kong-listed companies conducted share buybacks, totaling 38.39 million shares and an aggregate amount of HKD 831 million [1][2]. Group 1: Buyback Details - Tencent Holdings repurchased 979,000 shares for HKD 500 million, with a highest price of HKD 516.50 and a lowest price of HKD 503.00, bringing its total buyback amount for the year to HKD 21.53 billion [1][2]. - AIA Group repurchased 2.34 million shares for HKD 154 million, with a highest price of HKD 66.40 and a lowest price of HKD 64.75, totaling HKD 8.93 billion in buybacks for the year [1][2]. - China COSCO Shipping repurchased 5.56 million shares for HKD 79.36 million, with a highest price of HKD 14.40 and a lowest price of HKD 14.12, accumulating HKD 3.83 billion in buybacks for the year [1][2]. Group 2: Buyback Rankings - The highest buyback amount on May 19 was from Tencent Holdings at HKD 500 million, followed by AIA Group at HKD 154 million [1][2]. - In terms of share quantity, the largest buyback was conducted by Jieli Trading at 9.18 million shares, followed by China COSCO Shipping at 5.56 million shares and NetEase Technology at 4.67 million shares [1][2]. Group 3: Additional Buyback Information - Country Garden Services conducted its first buyback of the year, while Tencent Holdings has made multiple buybacks totaling HKD 21.53 billion [2][3]. - A detailed table of buybacks on May 19 includes various companies, their respective buyback shares, amounts, highest and lowest prices, and cumulative buyback amounts for the year [2][3].

Box Office Performance - IMAX achieved over $130 million in box office revenue during the Spring Festival, more than double its previous record, with 14 million attendees[5]. - IMAX's market share during the Spring Festival reached a historical high of 5%, despite only accounting for 1% of total screens in China[5]. - The film "Ne Zha" became IMAX's highest-grossing local language film globally, surpassing "Avengers: Endgame" by 32%, with a total box office of $1.7 billion[5]. - IMAX's share of Hollywood film screenings in China increased from 9% to 15% over five years, with over 30% of the box office for "Dune" and over 20% for the re-release of the "Harry Potter" series[8]. - The revenue from Chinese-language films accounted for 44.7% of IMAX's box office in the fiscal year 2024, down from previous years due to an increase in Hollywood film screenings[34]. - In the fiscal year 2024, 73 IMAX films are projected to be screened in mainland China, up from 57 in fiscal year 2023[46]. - The average box office per screen for IMAX theaters in mainland China is estimated at $0.26 million, significantly higher than the $0.07 million average for all screens[47]. - In the fiscal year 2024, Chinese-language films accounted for 76.6% of total box office revenue in mainland China, compared to 83.5% in fiscal year 2023[51]. - The share of IMAX format Chinese-language films in the group's box office revenue in mainland China was 44.7% in fiscal year 2024, down from 61.5% in fiscal year 2023[51]. Strategic Partnerships and Expansion - IMAX signed long-term agreements with over 100 theaters, upgrading 61 high-performing locations and opening up to 25 new IMAX theaters in key markets[8]. - IMAX expanded its content offerings to include concerts, sports, documentaries, and esports, achieving 45% of the box office for "Taylor Swift: The Eras Tour" and a 90% average occupancy for the League of Legends finals streamed in over 150 IMAX theaters[9]. - IMAX aims to leverage its brand influence and rich content resources to drive the premiumization of the Chinese film and entertainment industry[12]. - The company aims to expand its market share by collaborating with local filmmakers to produce high-quality films that resonate with local audiences[35]. - IMAX's strategic emphasis on Chinese-language films is expected to drive future growth, particularly in smaller cities in China[35]. - The company has established strong partnerships with over 90 exhibitors, including major players like Wanda Film and Huayi Brothers[41]. - The company aims to enhance collaboration with mainland Chinese filmmakers to incorporate IMAX technology into local films[45]. Financial Performance - The company's revenue for the fiscal year 2024 was $80,997 thousand, a decrease from $86,982 thousand in fiscal year 2023, representing a decline of approximately 6.8%[86]. - Revenue from content solutions was $15,510 thousand, accounting for 19.2% of total revenue, down from $25,522 thousand and 29.4% in the previous year[86]. - Revenue from technology products and services increased to $64,507 thousand, making up 79.6% of total revenue, compared to $60,898 thousand and 70.0% in fiscal year 2023, indicating a growth of approximately 5.3%[86]. - The company reported a net income attributable to shareholders of $22.217 million for the fiscal year 2024, down from $27.501 million in the fiscal year 2023[96]. - The adjusted profit for the fiscal year 2024 was $23.443 million, compared to $29.831 million in the fiscal year 2023[100]. - Gross profit for the fiscal year 2024 was $44.017 million, with a gross margin of 54.3%, down from $54.533 million and a gross margin of 62.7% in the fiscal year 2023[96]. - The total comprehensive income for FY2024 was $20.3 million, down from $24.7 million in FY2023, mainly due to a decrease in profit[143]. Operational Efficiency and Costs - The company’s operating costs are significantly fixed, which may adversely affect profitability if there are substantial declines in revenue due to pricing adjustments[74]. - The company faces risks related to the collection of receivables from its exhibitors, which may impact future revenue and cash flow if exhibitors encounter financial difficulties[76]. - The company has a flexible scheduling strategy, particularly during holidays, allowing for multiple Chinese-language films to be released simultaneously[35]. - Seasonal impacts are noted, with higher profitability typically observed in the second half of the year as most exhibitors install IMAX systems in preparation for the Chinese New Year holiday[78]. - The company may strategically offer discounts to certain exhibitors to maintain or gain market share, which could impact overall revenue[74]. Governance and Management Changes - Richard Gelfond has been the non-executive chairman since May 27, 2015, and is a major shareholder of IMAX Corporation[190]. - Daniel Wade Manwaring will become an executive director effective February 27, 2024, after serving as CEO since January 9, 2023[192]. - Jim Athanasopoulos has been an executive director since May 27, 2015, and served as CFO and COO until July 2023[196]. - Robert Lister was appointed as a non-executive director on May 1, 2023, and has been with IMAX Corporation since 1999[197]. - The company has undergone changes in its board, with new appointments and resignations effective February 2024[188]. - The board includes independent directors such as 靳羽西 and John Marshal Davison, contributing to corporate governance[188]. Market Challenges and Risks - The overall economic recovery in mainland China is slow, impacting the financial stability of several exhibitors, which may lead to delays in payments and responsibilities towards the group[65]. - Political tensions between China and the US or Canada may exacerbate risks, potentially impacting future revenue and cash flow in mainland China[67]. - The entertainment industry is highly competitive, with advancements in home entertainment technology posing challenges to the group's market position[71]. - The group faces competition from various entertainment channels, including streaming services and home theaters, which may negatively impact its business performance[72].

Financial Performance - IMAX China reported total revenue of $80,997,000 for the year ended December 31, 2024, a decrease of 6.8% compared to $86,982,000 in 2023[8]. - The gross profit for the year was $44,017,000, down 19.4% from $54,533,000 in the previous year[8]. - Operating profit decreased to $27,524,000, a decline of 14.0% from $32,227,000 in 2023[8]. - Net profit attributable to shareholders was $22,217,000, representing a decrease of 19.3% compared to $27,501,000 in 2023[8]. - For the fiscal year ending December 31, 2024, total revenue was $80,997 million, a decrease of 6.8% from $86,982 million in 2023[29]. - The company reported a pre-tax profit of $29,354 million for 2024, down from $33,673 million in 2023, reflecting a decrease of 12.9%[29]. - The adjusted profit for FY2024 was $23.443 million, down from $29.831 million in FY2023, a decrease of 21.5%[142]. - The company reported a net profit attributable to shareholders of $22.217 million in FY2024, down from $27.501 million in FY2023, a decrease of 19.2%[138]. - Total comprehensive income for FY2024 was $20.3 million, a decrease from $24.7 million in FY2023[176]. Revenue Breakdown - The content solutions segment generated revenue of $15,510 million, down 39.3% from $25,522 million in 2023, while the technology products and services segment saw an increase to $64,507 million from $60,898 million[29]. - Revenue from content solutions was $15.510 million, accounting for 19.2% of total revenue, down from $25.522 million (29.4%) in the previous year[123]. - Revenue from technology products and services increased to $64.507 million, representing 79.6% of total revenue, compared to $60.898 million (70.0%) in fiscal year 2023[123]. - Revenue from sales and sales-type leases increased from $16.1 million in FY2023 to $25.0 million in FY2024, a growth of 55.3% driven by new agreements and system installations[150]. - Revenue share arrangements decreased from $20.1 million in FY2023 to $13.3 million in FY2024, a decline of 33.8%, primarily due to reduced IMAX box office revenue[151]. Expenses and Profitability - The gross profit margin fell from 62.7% in FY2023 to 54.3% in FY2024, reflecting a decrease in profitability[138]. - Cost of sales for fiscal year 2024 was $36.980 million, which is 45.7% of total revenue, up from $32.449 million (37.3%) in fiscal year 2023[126]. - Selling, general, and administrative expenses totaled $13.085 million, representing 16.1% of total revenue, a decrease from $18.138 million (20.9%) in fiscal year 2023[129]. - Other operating expenses were approximately $4.3 million in fiscal year 2024, compared to $3.9 million in fiscal year 2023, accounting for about 5% of total revenue[130]. - The company reported a net reversal of impairment losses of $0.2 million in fiscal year 2024, contrasting with a provision of $1.2 million in fiscal year 2023[132]. Assets and Liabilities - Total assets increased to $333,573,000 as of December 31, 2024, up from $318,276,000 in 2023, reflecting a growth of 4.0%[10]. - Cash and cash equivalents rose to $80,049,000, an increase of 27.7% from $62,711,000 in the previous year[10]. - Total liabilities decreased to $59,469,000, down 6.5% from $63,905,000 in 2023[12]. - Shareholders' equity increased to $274,104,000, up 7.8% from $254,371,000 in 2023[12]. Market Strategy and Expansion - The company continues to focus on expanding its presence in the Greater China region, leveraging its digital cinema technology[15]. - IMAX aims to increase the number of Chinese-language films screened annually and the percentage of box office revenue generated from these films[81]. - The company plans to produce three "IMAX Special Shoot" Chinese-language films in 2024, continuing this strategy into 2025 and beyond[71]. - The company collaborates with over 90 exhibitors, including major players like Wanda Film and Alibaba Pictures, to expand its IMAX cinema network[78]. - The company plans to continue upgrading and expanding its IMAX cinema network through existing contracts and future orders, focusing on revenue-sharing arrangements[194]. Risks and Challenges - The slow post-pandemic economic recovery in China poses risks, including financial difficulties for some exhibitors, which may delay their payment and installation responsibilities[101]. - Regulatory changes in China regarding data protection and foreign enterprises may introduce uncertainties that could impact the company's operations and compliance[102]. - The company faces risks related to the Chinese government's control over the distribution of Hollywood films, which could affect its business expansion and revenue growth in the region[103]. - The company's revenue is significantly influenced by the willingness of consumers to purchase IMAX tickets, which may decline due to economic challenges and inflation, potentially impacting box office revenue from exhibitors[105]. - The company faces intense competition from other entertainment channels, including home theaters and streaming services, which may affect consumer willingness to pay a premium for IMAX tickets[110]. Cash Flow and Financing - The company reported a net cash generated from operating activities of approximately $30.8 million in FY2024, compared to $12.5 million in FY2023[185]. - The company's financing activities for fiscal year 2024 resulted in a net cash outflow of approximately $2.1 million, mainly due to restricted stock unit settlements and lease payments[190]. - The company has established an unsecured revolving financing facility of up to RMB 200 million (approximately $27.8 million) to meet ongoing working capital needs[198]. - As of December 31, 2024, there were no significant adverse changes in the company's debt since the audited financial statements[199].

IMAX CHINA HOLDING, INC. 於 開 曼 群 烏 註 冊 成 立 之 有 限 公 司 股份代號 : 1970 2024 年中期報告 . IMAX 目 錄 IMAX CHINA HOLDING, INC. 2024年中期報告 公司資料 | --- | |--------------------------| | | | | | 管理層討論與分析 | | 企業管治摘要及其他資料 | | 中期財務資料的審閱報告 | | 簡明綜合中期全面收益表 | | 簡明綜合中期財務狀況表 | | 簡明綜合中期權益變動表 | | 簡明綜合中期現金流量表 | | 簡明綜合中期財務資料附註 | | 釋義 | | --- | |-------| | | | 3 | | 24 | | 69 | | 70 | | 71 | | 73 | | 75 | | 76 | | 121 | | 126 | 詞彙 2024年中期報告 1 IMAX 公司資料 | --- | --- | |--------------------------------|---------------------------------------| ...

Revenue and Profitability - Revenue for the six months ended June 30, 2024, was $43,901 million, a decrease of 3.2% from $45,342 million in the same period of 2023[3]. - Gross profit for the same period was $25,102 million, down 12.5% from $28,718 million in 2023[4]. - Operating profit decreased to $15,592 million, compared to $16,429 million in the previous year, reflecting a decline of 5.1%[5]. - Profit attributable to owners of the company was $12,648 million, down 8.9% from $13,876 million in 2023[6]. - The group reported a pre-tax profit of $16,449 million for the six months ended June 30, 2024, compared to $16,873 million in the same period of 2023[21]. - The adjusted profit for the first half of the 2024 fiscal year was $13.4 million, compared to $15.1 million in the first half of the 2023 fiscal year[55]. - The company reported a net profit of $12,648 million for the six months ended June 30, 2024, a decrease from $13,876 million in the same period of 2023, representing a decline of approximately 8.9%[29]. - The company reported a net loss of $(293,889) thousand in cumulative losses as of June 30, 2024, compared to $(292,845) thousand at the end of 2023, reflecting a slight increase in losses[117]. Earnings Per Share - Basic and diluted earnings per share remained unchanged at $0.04 for both periods[6]. - Basic and diluted earnings per share for the three months ended June 30, 2024, were $0.07, down from $0.15 in the same period of 2023, representing a decline of 53.3%[121]. Assets and Liabilities - Total assets as of June 30, 2024, were $327,910 million, an increase from $318,276 million at the end of 2023[10]. - Total liabilities decreased to $62,076 million from $63,905 million at the end of 2023, reflecting a reduction of 2.9%[12]. - Total equity attributable to owners increased to $265,834 million, up from $254,371 million at the end of 2023, representing a growth of 4.3%[13]. - Cash and cash equivalents increased to $77,457 million from $62,711 million, indicating a significant rise of 23.5%[10]. - Trade receivables as of June 30, 2024, totaled $73,504 million, down from $75,956 million as of December 31, 2023, indicating a decrease of about 3.2%[32]. - Deferred income as of June 30, 2024, was $24,335 million, slightly lower than $25,784 million as of December 31, 2023, showing a decline of approximately 5.6%[36]. - The deferred tax assets decreased to $3,818 million as of June 30, 2024, from $4,324 million as of December 31, 2023, reflecting a reduction of approximately 11.7%[34]. - Total liabilities rose to $484,437 thousand as of June 30, 2024, compared to $469,080 thousand on December 31, 2023, indicating an increase of 3.0%[116]. Revenue Segments - The content solutions segment generated revenue of $9,346 million, down 34.3% from $14,178 million in the prior year[21]. - The technology products and services segment reported revenue of $34,075 million, an increase of 10.4% from $30,896 million in the previous year[21]. - Revenue from content solutions was $9.346 million, accounting for 21.3% of total revenue, down from $14.178 million and 31.3% in the previous year[43]. - Revenue from technology products and services increased to $34.075 million, making up 77.6% of total revenue, compared to $30.896 million and 68.1% in the prior year[43]. - Revenue from sales and sales-type leases increased from $7.5 million in the first half of fiscal 2023 to $13.7 million in the first half of fiscal 2024, a growth of 82.7%[61]. - Revenue from revenue-sharing arrangements totaled $32.5 million for the six months ended June 30, 2024, down from $40.7 million in 2023, reflecting a decrease of approximately 20%[165]. Operating Expenses - Operating expenses, including selling, general and administrative expenses, totaled $28,309 million, slightly down from $28,913 million in the previous year[27]. - Total operating expenses for the first half of 2024 were $6.821 million, representing 15.5% of total revenue, a decrease from $8.979 million or 19.8% in the same period of 2023[47]. - Selling, general and administrative expenses decreased by 16.8% from $9.0 million in the first half of fiscal 2023 to $6.8 million in the first half of fiscal 2024, mainly due to a reduction in employee compensation and benefits[78]. - Other operating expenses decreased from $2.5 million in the first half of fiscal 2023 to $2.3 million in the first half of fiscal 2024, primarily due to reduced annual licensing fees related to technology and trademark agreements[79]. Cash Flow and Investments - The company recorded a net cash from operating activities of $19.7 million for the first half of the 2024 fiscal year, an increase from $12.0 million in the same period of the previous fiscal year[97]. - For the first half of the 2024 fiscal year, the company reported a net cash used in investing activities of approximately $3.2 million, primarily related to the installation of IMAX cinema equipment costing $2.6 million[91]. - The net cash used in financing activities for the first half of the 2024 fiscal year was approximately $1.5 million, mainly due to the settlement of restricted stock units and options amounting to $1.1 million[92]. - Cash and cash equivalents increased by $14.7 million in the first half of fiscal 2024, reaching $77.5 million compared to $62.7 million at the beginning of the period[88]. - The company’s capital expenditure for the first half of the 2024 fiscal year was $3.2 million, compared to $1.8 million in the same period of the previous fiscal year, focusing on acquiring IMAX cinema systems[95]. Taxation - The group incurred a total income tax expense of $3,801 million for the six months ended June 30, 2024, compared to $2,997 million in the same period of 2023[28]. - The income tax expense for the first half of the 2024 fiscal year was $3.8 million, compared to $3.0 million in the first half of the 2023 fiscal year[51]. - The company recorded a tax benefit of $4.0 million for the three months ended June 30, 2024, compared to a tax expense of $3.5 million in 2023, indicating a significant turnaround[167]. - The company’s actual tax rate for the six months ended June 30, 2024, was 10.0%, significantly lower than the Canadian statutory rate of 26.5% due to various tax incentives and foreign jurisdiction differences[167]. Share Repurchase and Dividends - The board has resolved not to declare any interim dividend for the six months ending June 30, 2024[102]. - The company repurchased a total of 119,900 shares at an average price of HKD 7.43, totaling HKD 890,928.94 during May 2024[106]. - Additional share repurchases included 91,811 shares at an average price of HKD 6.7076 and 218,318 shares at an average price of HKD 8.92 in June 2024[107]. - The company has authorized a share repurchase plan for up to 10% of its issued shares, totaling approximately 34,000,845 shares, valid until the 2025 annual general meeting[180]. Market Presence and Strategy - The company continues to focus on expanding its market presence in Greater China, leveraging its digital cinema technology[14]. - The group’s operating assets and liabilities are located in Greater China, with all revenue derived from IMAX cinema operations in the region[21]. Credit Quality and Risk Management - The company has established a credit quality classification system for cinema operators, including categories such as "Outstanding Credit" and "All Transactions Suspended" based on payment history and communication[129]. - Management conducts monthly meetings to monitor credit quality and identify potential credit issues among clients[128]. - The company has recognized a credit loss provision of $181,000 for the six months ended June 30, 2024, after accounting for write-offs and recoveries[132]. - The company’s credit loss judgments are based on known facts and involve estimates about future performance, which may be subject to change due to economic conditions[130]. - The company has a policy to review accounts aged over 90 days for potential impairment, indicating a proactive approach to managing credit risk[129]. Foreign Exchange and Financial Instruments - The company has established a series of foreign currency forward contracts to manage foreign exchange risk, with some contracts extending into 2024 and 2025[200]. - The company does not use any financial instruments for trading or speculative purposes, focusing instead on hedging against foreign exchange fluctuations[200]. - The company’s foreign exchange risk management strategy includes hedging tools that meet the criteria for hedge accounting as of June 30, 2024[200].