金十期货5月19日讯，伦敦金属交易所（LME）有色金属库存及变化如下： 1. 铜库存174325吨，减少5050吨。 2. 铝库存393450吨，减少2000吨。 3. 镍库存202008吨，增加6786吨。 4. 锌库存160800吨，减少3400吨。 5. 铅库存246350吨，减少2500吨。 6. 锡库存2740吨，增加5吨。 LME有色金属库存日报 ...

Financial Performance - The company reported a significant increase in revenue, achieving a total of HK$1.2 billion, representing a 15% year-over-year growth[5]. - The company has set a future revenue guidance of HK$1.5 billion for the next fiscal year, indicating a projected growth of 25%[5]. - The revenue for the year ended December 31, 2024, was approximately HK$2,235,129,000, representing a decrease of 9.4% compared to HK$2,467,957,000 for the year ended December 31, 2023[23]. - Operating costs decreased by 10.6% to approximately HK$2,480,430,000 for the year ended December 31, 2024, down from HK$2,773,698,000 in the previous year[23]. - The operating loss decreased to approximately HK$245,301,000 for the year ended December 31, 2024, a reduction of 19.8% from HK$305,741,000 in 2023[24]. - The loss attributable to owners of the Company decreased to approximately HK$252,605,000 for the year ended December 31, 2024, a decrease of 2.5% from HK$258,989,000 in 2023[25]. - Television broadcasting revenue was HK$878,438,000 for the year ended December 31, 2024, down from HK$917,570,000 in 2023[30]. - Internet media revenue remained stable at HK$777,270,000 for the year ended December 31, 2024, compared to HK$778,797,000 in 2023[30]. - Outdoor media revenue decreased significantly to HK$459,889,000 for the year ended December 31, 2024, from HK$598,055,000 in 2023[30]. Strategic Initiatives - New product launches, including a premium subscription service, are expected to contribute an additional HK$200 million in revenue[5]. - A strategic acquisition of a local media company was completed, enhancing content diversity and expected to generate HK$100 million in synergies[5]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in regional audience by the end of 2025[5]. - Investment in new technology for content delivery is projected to reduce operational costs by 10% over the next two years[5]. - The board of directors has approved a share consolidation plan, effective February 20, 2024, to enhance share value[10]. Awards and Recognition - The company received multiple awards for excellence in media production, enhancing its brand reputation[5]. - Phoenix TV has been recognized among "Asia's 500 Most Influential Brands" and "China's 500 Most Valuable Brands," maintaining its position as one of the top four Asian television brands[38]. - Phoenix TV's program "Abandoned Life" won the gold award in the Social Justice Promotion Category at the 2024 New York International Festivals[38]. - The company has won multiple awards at the 2024 Promax Asia Awards and Asian Television Awards, reflecting its world-class production standards[38]. - Phoenix TV was honored with multiple awards at the 2024 New York Festivals TV & Film Awards, marking the 13th consecutive year of recognition for its program production quality[139]. - Phoenix TV won the gold award for Best Promo For a Streaming Service and the silver award for Best Public Service Announcement at the 2024 Promax Asia Award[170]. - Phoenix TV received the inaugural Belt and Road International Cooperation Award at the International Finance Forum for its participation in international cooperation projects[166]. - Phoenix TV received an Honourable Mention Excellence in ESG at the Hong Kong Corporate Governance and ESG Excellence Awards[173]. Audience Engagement - User engagement metrics showed a 20% increase in viewership across all platforms, with a notable rise in mobile app usage[5]. - Phoenix TV has a global audience exceeding 2 billion, with over 500 million television viewers and more than 200 million overseas new media audience[36]. - The Hong Kong Channel was officially launched on Channel 85, reaching 1.03 million residents across 100 communities in Hong Kong[36]. - Phoenix TV's internet media platform, IFENG News App, maintains industry leadership with a user base exceeding 55 million and high engagement rates, bolstered by major event coverage[46]. - "Phoenix Weekly" has a total user base exceeding 55 million, with over 20 million users on Douyin and WeChat Channels, enhancing its advertising bargaining power[49]. Corporate Social Responsibility - Environmental, social, and governance (ESG) initiatives are being prioritized, with a commitment to reduce carbon emissions by 15% by 2026[5]. - Phoenix TV has received the ESG Excellence Award for two consecutive years, demonstrating its commitment to corporate social responsibility[42]. - The company collaborated with China Resources Group to donate educational courseware to 1,007 schools in Hong Kong, showcasing its dedication to sustainable development[42]. - The "You Bring Charm to the World Award Ceremony" recognized outstanding Chinese individuals, celebrating their contributions across various fields[72]. - The award ceremony has evolved into an annual event showcasing the excellence of the Chinese community and fostering cultural exchanges[74]. Content Innovation - The company is committed to focusing on its main media business and innovative development, with a goal of building a leading Chinese-language media group[32]. - Phoenix TV's new programming includes a variety of self-produced cultural documentaries and financial programs, enhancing local content offerings[63]. - The launch of the documentary film "Hong Kong Nature Stories" and the Young Filmmakers Project reflects the company's commitment to content innovation and cultural promotion[56][57]. - The newly launched Phoenix Hong Kong Channel broadcasts in both Mandarin and Cantonese, featuring a 90-minute prime-time Cantonese news segment and various self-produced cultural documentaries[61][62]. - Phoenix TV's focus on international broadcasting and content innovation supports broader commercial expansion and enhances its core competitiveness[45][50]. International Expansion - The company organized the Global Development Forum for Enterprises in Jakarta, Indonesia, enhancing its international broadcasting platform[41]. - Phoenix TV successfully launched its international event brand, Phoenix Go Glocal, during the 19th ASEAN Marketing Summit in Jakarta, Indonesia, aimed at supporting the global development of Chinese and foreign enterprises[115]. - The strategic partnership with Hong Kong Generative AI Research and Development Center aims to create a high-quality multilingual dataset and enhance generative AI technology's understanding of Chinese culture[64]. - The collaboration with HKGAI significantly enhances the data scale of high-quality Chinese language materials, particularly in Cantonese and Traditional Chinese[65]. - Phoenix TV continues to deepen its integrated marketing linkage mechanism, providing diverse and customized media products to enhance operational efficiency[45][47]. Events and Forums - The 2024 Phoenix Financial Forum for The Greater Bay Area was held from September 2 to 4, focusing on critical economic issues and growth opportunities in the new economic landscape[84]. - The forum featured discussions on global economic trends and opportunities for growth, attended by key leaders and experts[85]. - The Greater Bay Area Film Concert 2024 was organized by Phoenix TV, showcasing cultural integration through film and music[92][93]. - During COP29, Phoenix TV shared its new practices in climate communication and promoted the "CarbonSpeak" project at the China Pavilion's Side Event[107][108]. - Mr. Xu Wei highlighted the role of Phoenix TV in building dialogues amid conflicts, emphasizing the importance of understanding and cooperation[110].

Financial Performance - Revenue for the year ended December 31, 2024, was approximately HKD 2,235,129,000, a decrease of 9.4% compared to HKD 2,467,957,000 for the year ended December 31, 2023[5] - Operating loss for the year ended December 31, 2024, decreased to approximately HKD 245,301,000, down 19.8% from HKD 305,741,000 for the year ended December 31, 2023[5] - Loss attributable to owners of the company decreased to approximately HKD 252,605,000, a reduction of 2.5% compared to HKD 258,989,000 for the year ended December 31, 2023[5] - The group's revenue for the year ended December 31, 2024, was approximately HKD 2,235,129,000, a decrease of 9.4% compared to HKD 2,467,957,000 for the year ended December 31, 2023[17] - Operating costs decreased by 10.6% to approximately HKD 2,480,430,000 for the year ended December 31, 2024, down from HKD 2,773,698,000 in the previous year[17] - The company's total revenue for the year ended December 31, 2024, was HKD 2,235,129, a decrease of 9.4% compared to HKD 2,467,957 in 2023[59] - Operating expenses for the same period were HKD 2,109,838, down from HKD 2,327,760 in 2023, reflecting a reduction of 9.4%[59] - The net loss for the year was HKD 295,752, an improvement from a net loss of HKD 334,694 in 2023, indicating a decrease in loss of approximately 11.6%[61] - Basic and diluted loss per share for the year was HKD 50.59, slightly improved from HKD 51.86 in the previous year[59] - Total revenue for the group decreased from HKD 2,467,957 thousand in 2023 to HKD 2,235,129 thousand in 2024, a decline of approximately 9.4%[72] Audience and Brand Development - The company has a global audience exceeding 2 billion, with over 500 million television viewers and more than 200 million overseas new media audiences[7] - The company launched a new service on the free television platform in Hong Kong, providing international news services to local and global Cantonese-speaking audiences[7] - The company is set to complete a comprehensive rebranding of its six satellite TV channels by January 1, 2025, enhancing its international communication capabilities[7] - The company has been recognized in the "Asia's 500 Most Valuable Brands" and "China's 500 Most Valuable Brands" lists, highlighting its brand value in the media and cultural sectors[9] - The company actively promotes international exchange platforms and has initiated several international events to enhance cultural influence and attract investment[10] - The company successfully launched multiple international content marketing cases, including projects related to the "Paris Olympics," enhancing its brand influence[14] Operational Changes and Investments - The company plans to continue integrating existing businesses while seeking new opportunities to enhance its operations[39] - The company increased its equity interest in Phoenix New Media to 55.04% as of December 31, 2024, from 54.68% the previous year due to the repurchase of 78,396 American Depositary Shares[29] - The company has no significant investments that constitute 5% or more of total assets as of December 31, 2024[38] - The company has not issued or exercised any share options under its share option scheme during the year[35] - The company has adopted its own corporate governance code, aligning with the majority of the corporate governance code provisions set out in the Hong Kong Stock Exchange listing rules[43] Financial Position and Liabilities - As of December 31, 2024, the company's cash and short-term bank deposits totaled approximately HKD 2,130,672,000, an increase from HKD 1,709,596,000 as of December 31, 2023[30] - The company's total outstanding borrowings amounted to approximately HKD 148,670,000, a decrease from HKD 210,759,000 as of December 31, 2023[30] - The capital debt ratio as of December 31, 2024, was 72.7%, down from 79.0% as of December 31, 2023[30] - The company employed 2,535 staff as of December 31, 2024, down from 2,704 staff the previous year, with total employee costs decreasing to approximately HKD 1,088,734,000 from HKD 1,203,854,000[37] - Total assets as of December 31, 2024, were HKD 5,832,803, a decrease from HKD 6,690,395 in 2023, representing a decline of 12.8%[63] - Total equity decreased from HKD 4,170,448 thousand in 2023 to HKD 3,756,241 thousand in 2024, a decline of approximately 10%[65] - Total liabilities decreased from HKD 2,519,947 thousand in 2023 to HKD 2,076,562 thousand in 2024, a reduction of about 17.6%[65] - The company reported a significant reduction in lease liabilities from HKD 578,616 thousand in 2023 to HKD 312,243 thousand in 2024, a decrease of about 46%[65] Dividend and Future Outlook - The company does not recommend declaring a final dividend for the year ending December 31, 2024, consistent with the previous year where no dividend was declared[26] - The company plans to release its 2024 annual report around April 24, 2025[56] - The audit committee has reviewed the financial results for the year and confirmed alignment with the draft financial statements[53] - The company continues to monitor changes in tax regulations in China that may affect its tax liabilities[81]

Core Viewpoint - Phoenix New Media Limited reported its unaudited financial results for the fourth quarter and full year of 2024, showing mixed performance in revenue streams and a net loss for the quarter [1]. Group 1: Financial Performance - In Q4 2024, total revenue was RMB 218.1 million (approximately $29.9 million), representing a year-on-year increase of 3.0% [1]. - Advertising net revenue for Q4 was RMB 189 million (approximately $25.9 million), showing a decline of 4.1% year-on-year [1]. - Paid service revenue reached RMB 29.1 million (approximately $4 million), marking a significant year-on-year increase of 96.6%, primarily driven by growth in digital reading services [1]. - The company reported a net loss of RMB 3.6 million (approximately $500,000) for Q4 2024 [1]. - Non-GAAP net income was RMB 8.1 million (approximately $1.1 million) [1]. - For the full year 2024, total revenue was RMB 703.7 million (approximately $96.4 million), reflecting a year-on-year growth of 1.7% [1]. - Advertising net revenue for the full year was RMB 630.6 million (approximately $86.4 million), with a year-on-year increase of 1.8% [1]. Group 2: Future Projections - The company expects total revenue for Q1 2025 to be between RMB 147.1 million and RMB 162.1 million [3]. - Advertising net revenue for Q1 2025 is projected to be between RMB 112.1 million and RMB 122.1 million [3]. - Paid service revenue for Q1 2025 is anticipated to be between RMB 35 million and RMB 40 million [3].

Financial Performance - The interim report covers the six-month period ending June 30, 2024[6]. - The Group's total revenue for the six months ended 30 June 2024 was approximately HK$1,042,746,000, representing a decrease of 8.0% compared to HK$1,133,077,000 for the same period in 2023[9]. - The operating loss for the Group decreased to approximately HK$181,804,000, a reduction of 33.6% from HK$273,959,000 in the previous year[9]. - The loss attributable to owners of the Company increased to approximately HK$184,457,000, which is an increase of 42.8% from HK$129,158,000 in the previous year[9]. - Basic and diluted loss per share for the period was HK$36.94, compared to HK$25.86 in the same period last year[32]. - The Group reported a loss for the period amounting to HK$211,458, which includes a loss of HK$184,457 attributable to owners of the Company[93]. - Total comprehensive expense for the period amounted to HK$307,728, significantly higher than HK$83,589 in the previous year[87]. Revenue Breakdown - Television broadcasting revenue for the six months ended 30 June 2024 was HK$382,584,000, down from HK$409,250,000 in 2023[12]. - Internet media revenue decreased to HK$353,308,000 from HK$373,400,000 in the same period last year[12]. - Outdoor media revenue declined to HK$245,565,000 from HK$265,923,000 in the previous year[12]. - The revenue of the internet media business decreased by 5.4% to approximately HK$353,308,000 for the six months ended 30 June 2024, compared to HK$373,400,000 for the same period in 2023[33]. - The revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel increased by 6.8% to approximately HK$271,049,000, accounting for 26.0% of the total revenue[32]. Cost Management - The Group implemented effective cost control measures, particularly in staff costs, to mitigate the impact of revenue decline[9]. - Employee benefit expenses totaled HK$537,808,000, down from HK$602,301,000, reflecting a reduction of approximately 10.7%[135]. - The company incurred production costs of self-produced programmes totaling HK$67,523,000, a decrease from HK$80,273,000, reflecting cost management efforts[135]. Shareholder Information - The company underwent a share consolidation effective February 20, 2024, converting every ten shares of par value HK$0.10 into one consolidated share of par value HK$1.00[8]. - The Group does not recommend the payment of interim dividends for the Period, consistent with the previous year where the interim dividend was also Nil[33]. - The total number of issued shares was adjusted to 499,365,950 as a result of share consolidation effective on February 20, 2024[66]. Corporate Governance - The report outlines the corporate governance practices in accordance with the Corporate Governance Code[3]. - The Company has complied with the Corporate Governance Code throughout the period up to June 30, 2024, except for certain deviations[76]. - The Board consists of two Executive Directors, four Non-executive Directors, and four Independent Non-executive Directors as of the report date[84]. - The Company has adopted a code of conduct for securities transactions by Directors and confirmed compliance throughout the period[79]. Risk Management - The report emphasizes the importance of risk management and includes a risk management committee[6]. - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[103]. - There have been no significant changes in the risk management department or policies since year-end[103]. Operational Strategies - The company aims to enhance shareholder value through strategic initiatives and market expansion[5]. - The company continues to enhance its core competitiveness in content and marketing strategies to adapt to market changes and improve operational efficiency[30]. - The company plans to continue consolidating existing businesses while exploring new business opportunities to enhance its operations[46]. Employee and Training Initiatives - The Group offers occupational training and has subsidy plans for staff training to enhance employee skills and knowledge[42]. - The Company maintains an employee-oriented policy with competitive salaries and benefits to attract and retain talent[42]. Financial Position - The Group's gearing ratio increased to 89% as at 30 June 2024, up from 79% as at 31 December 2023[39]. - The Group's bank deposit in PRC was approximately HK$213,800,000 as at 30 June 2024, down from HK$219,620,000 as at 31 December 2023, which was pledged to secure bank borrowing[40]. - As of June 30, 2024, total liabilities increased to HK$2,624,340 as of June 30, 2024, compared to HK$2,519,947 as of December 31, 2023, reflecting an increase of approximately 4.14%[92]. Investments and Acquisitions - There were no significant investments held by the Group as of June 30, 2024, with no individual investment contributing 5% or more of the Group's total assets[44]. - The company has not disclosed any new product developments or market expansion strategies during the reporting period[62]. - There were no significant mergers or acquisitions reported during the period[62]. Future Outlook - The company did not provide specific future performance guidance or outlook in the available documents[62]. - The Group is currently assessing the impact of new standards and amendments that are not yet effective for the financial year ending December 31, 2024[101].

Financial Performance - The company's revenue for the six months ended June 30, 2024, was approximately HKD 1,042,746,000, a decrease of 8.0% compared to HKD 1,133,077,000 for the same period in 2023[1] - Operating loss decreased to approximately HKD 181,804,000, down 33.6% from HKD 273,959,000 in the previous year[1] - Loss attributable to owners increased to approximately HKD 184,457,000, representing a 42.8% increase from HKD 129,158,000 in the same period last year[1] - The total revenue for the group was approximately HKD 1,042,746,000 for the six months ended June 30, 2024, a decrease of 8.0% compared to HKD 1,133,077,000 for the same period last year[6] - The loss attributable to shareholders increased to approximately HKD 184,457,000, a 42.8% increase from HKD 129,158,000 in the previous year[6] - The net loss for the period was HKD (211,458), slightly higher than the loss of HKD (209,209) in the same period last year, representing a 1.1% increase in loss[36] - Basic and diluted loss per share for the period was HKD (36.94), compared to HKD (25.86) for the same period in 2023, indicating a significant increase in loss per share[35] - The company reported a total comprehensive expense of HKD (307,728) for the six months ended June 30, 2024, compared to HKD (83,589) for the same period in 2023, showing a significant increase in losses[39] - The company's retained earnings as of June 30, 2024, were HKD 913,977, down from HKD 1,222,280 as of June 30, 2023, representing a decrease of approximately 25.3%[40] - The company reported a loss attributable to owners of HKD 184,457,000 for the period ending June 30, 2024, compared to a loss of HKD 129,158,000 for the same period last year, reflecting a significant increase in losses[67] Revenue Breakdown - Internet media revenue decreased by 5.4% to approximately HKD 353,308,000, with a classification loss of about HKD 28,513,000[10] - Outdoor media revenue decreased by 7.7% to approximately HKD 245,565,000, with a classification loss of about HKD 4,687,000[11] - The company’s revenue from television broadcasting for the main channel is HKD 271,049,000 for the period ending June 30, 2024, compared to HKD 253,868,000 for the same period last year, showing an increase of 6.76%[67] - Revenue from services charged to China Mobile Group was HKD 2,087,000 for the six months ended June 30, 2024, down 55.0% from HKD 4,623,000 in the same period of 2023[93] Operational Developments - The launch of Phoenix TV's Hong Kong channel on April 22, 2024, marked a significant breakthrough in broadcasting coverage across Hong Kong[2] - The Phoenix Express service was launched on May 15, 2024, covering approximately 1.03 million residents across 100 communities in Hong Kong[2] - The company aims to enhance international communication capabilities through innovative content products and collaboration with AI platforms[3] - The company continues to promote sustainability initiatives, donating educational materials to 1,007 schools in Hong Kong[3] - The company has been recognized as a leader in sustainable media development by the Hong Kong Listed Companies Association[3] Financial Position - The group's cash and bank deposits totaled approximately HKD 1,646,940,000 as of June 30, 2024, down from HKD 1,709,596,000 as of December 31, 2023, while structured deposits classified as financial assets at fair value through profit or loss increased to approximately HKD 524,445,000 from HKD 461,498,000[14] - The total outstanding borrowings amounted to approximately HKD 366,650,000 as of June 30, 2024, compared to HKD 210,759,000 as of December 31, 2023, resulting in a capital debt ratio of 89% as of June 30, 2024, up from 79%[14] - The group employed 2,641 staff as of June 30, 2024, a decrease from 2,704 staff as of December 31, 2023, with employee costs reduced to approximately HKD 537,808,000 from HKD 602,301,000 year-on-year[18] - Total assets as of June 30, 2024, were HKD 6,487,695, a decrease of 3.0% from HKD 6,690,395 as of December 31, 2023[37] - Total liabilities increased to HKD 2,624,340 as of June 30, 2024, compared to HKD 2,519,947 as of December 31, 2023, reflecting an increase of about 4.15%[38] Risk Management - The company operates in a market with various financial risks, including foreign exchange risk and liquidity risk[50] - The company continues to monitor and manage foreign exchange risks primarily arising from USD and RMB, considering the use of forward currency contracts as a management tool[15] - The company has not made any significant changes to its risk management policies since the year-end date[50] Investments and Acquisitions - The group has no significant investments as of June 30, 2024, with no individual investment constituting 5% or more of the total assets[20] - The group has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[13] - The company has not issued or exercised any share options under its share option scheme during the reporting period[17] Future Outlook - The company plans to issue its interim report by September 30, 2024, to shareholders[34] - The company expects to receive certain licenses for its new media subsidiaries in the near future, which may enhance its operational capabilities[77] - The group plans to continue integrating existing businesses while seeking new opportunities to enhance synergy with current operations, considering various financing methods when opportunities arise[21]

Share Buyback Program - Phoenix Media Investment (Holdings) Limited approved a share buyback plan on September 27, 2023, allowing the repurchase of up to $200 million of American Depositary Shares over a period of five months[2]. - The total amount spent on the share buyback program was approximately $173.39 million, with 42,585 American Depositary Shares repurchased, representing 2,044,080 Class A ordinary shares of Phoenix New Media[15]. - Following the completion of the buyback plan, the group's equity interest in Phoenix New Media further increased to 55.04%[12]. - The buyback program is set to expire on February 27, 2024, after which a total of 120,981 American Depositary Shares will have been repurchased[12]. Equity Interest - As of December 31, 2023, the group increased its equity interest in Phoenix New Media to 54.68%, up from 54.49% as of December 31, 2022[12]. Reporting - The company plans to send its 2023 annual report to shareholders on April 25, 2024[14].

Financial Performance - Total revenue for the year ended December 31, 2023, was HKD 2,467,957,000, a significant increase compared to the previous year[4] - The company reported a loss attributable to owners of the company of HKD 258,989,000 for 2023, an improvement from a loss of HKD 383,340,000 in 2022[13] - The weighted average number of ordinary shares issued was 499,366,000, resulting in a basic loss per share of HKD 0.5186 for 2023[13] - The group's revenue for the year ended December 31, 2023, was approximately HKD 2,467,957,000, a decrease of 17.8% compared to HKD 3,003,733,000 for the year ended December 31, 2022[44] - The company's net loss for 2023 was HKD 334,694,000, compared to a net loss of HKD 446,875,000 in 2022, representing a 25.1% improvement[146] - The total comprehensive expenses for the year amounted to HKD 285,921,000, down from HKD 850,232,000 in the previous year, indicating a reduction of approximately 66%[122] Revenue Breakdown - Revenue from television broadcasting decreased by 15% to HKD 917,570,000, compared to HKD 1,077,964,000 in the previous year[49] - The revenue from internet media and outdoor media combined was HKD 1,376,852,000, down from HKD 1,718,586,000, representing a decrease of 19.9%[49] - Television broadcasting revenue decreased by 14.9% to approximately HKD 917,570,000, accounting for 37.2% of total revenue for the year ended December 31, 2023[89] - Internet media business revenue decreased by 16.5% to approximately HKD 778,797,000, with a classified loss of approximately HKD 97,361,000 for the year ended December 31, 2023[90] - Outdoor media business revenue decreased by 23.8% to approximately HKD 598,055,000, with classified profit decreasing by 74.7% to approximately HKD 29,281,000 for the year ended December 31, 2023[91] Cost Management - Operating costs for the year ended December 31, 2023, decreased by 18.0% to approximately HKD 2,773,698,000, down from HKD 3,382,353,000 for the previous year[44] - The operating loss for the year was HKD 305,741,000, improved from an operating loss of HKD 378,620,000 in the previous year[49] - The group employed 2,704 staff, with total employee costs reduced to approximately HKD 1,203,854,000, down from HKD 1,316,844,000 for the year ended December 31, 2022[74] Financial Position - The company reported a decrease in accounts payable from HKD 482,834,000 in 2022 to HKD 275,761,000 in 2023, indicating improved cash flow management[17] - The company’s total liabilities decreased from HKD 1,201,263,000 in 2022 to HKD 1,045,397,000 in 2023, indicating a reduction in financial obligations[17] - The group's cash and short-term bank deposits totaled approximately HKD 1,709,596,000 as of December 31, 2023, an increase from HKD 1,597,690,000 as of December 31, 2022[97] - The company's capital debt ratio as of December 31, 2023, was 79.0%, down from 81.5% as of December 31, 2022[69] - The total assets as of December 31, 2023, were HKD 6,690,395,000, a decrease of 7.5% from HKD 7,230,616,000 in 2022[148] Acquisitions and Investments - The company completed acquisitions totaling HKD 17,733,000 for 100% equity in several subsidiaries, enhancing its market presence[19] - The company reported a bargain gain of HKD 12,947,000 recognized in the consolidated income statement due to acquisition activities[31] - The company’s investment properties increased slightly to HKD 1,325,872,000 from HKD 1,307,283,000, indicating a growth of 1.4%[148] Corporate Governance and Compliance - The company’s deferred tax assets and liabilities were managed in accordance with local tax regulations, maintaining compliance[10] - The company has complied with the corporate governance code throughout the year, ensuring effective oversight and management[108] - The company plans to issue its 2023 annual report around April 23, 2024, providing further insights into its financial performance[119] Strategic Focus - The flagship product "Phoenix News Client" maintained industry-leading user numbers and engagement levels, contributing to increased traffic and click-through rates[41] - The company emphasized its commitment to internationalization and cultural communication, aiming to enhance its global brand presence[52] - The company continues to innovate in content production and marketing strategies, focusing on multi-channel distribution and audience engagement[55] - The company continues to focus on enhancing its core competitiveness in content and maintaining high-quality corporate governance[43] Other Notable Points - The company did not recommend a final dividend for the year ended December 31, 2023, compared to no dividend for the year ended December 31, 2022[93] - The company has not granted or exercised any share options under its share option scheme during the year[102] - The group has implemented a "people-oriented" policy to attract and retain talent, offering competitive employment conditions and benefits[103]

Stock Options - As of December 31, 2022, the number of options available for grant was 442,543,950 shares, compared to 429,873,950 shares as of December 31, 2021[6] - The 442,543,950 shares of options represented 8.86% of the company's total issued share capital at that time[8]

Financial Assets and Investments - Financial assets at fair value through profit or loss totaled HK$909,623,000, including HK$18,622,000 in trading equity securities and HK$97,129,000 in structured deposits[1] - Financial assets at fair value through profit or loss increased to HK$1,015,174,000, with HK$927,603,000 in structured deposits and HK$72,419,000 in other investments[2] - The fair value of financial instruments in Level 3 was reviewed by the Finance Department, including convertible redeemable preferred shares, with discussions held with independent valuers on valuation assumptions and results[34] - The Group's balance of financial assets at the end of the period was HK$1,374,418,000, including a fair value loss of HK$14,419,000[28] - Other investments have a fair value of HK$72,419,000, measured using the market approach and price derived from observable market data[53] - The Group's listed securities investments had an estimated fair market value of approximately HK$18,622,000 as of 30 June 2023, up from HK$14,821,000 as of 31 December 2022[107] - The Group's investments in listed securities accounted for less than 5% of its total assets as of 30 June 2023[107] Investment Properties - The Group's investment properties in the UK were valued at HK$13,018,000 using the income capitalization approach[32] - The Group's investment properties in Shenzhen had a net book value of HK$19,535,000, with a cost of HK$30,848,000[26] - Phoenix International Media Centre in China has a fair value of HK$1,319,002,000 as of 30 June 2023, compared to HK$1,293,732,000 as of 31 December 2022[46][48] - Commercial properties in the UK have a fair value of HK$12,926,000 as of 30 June 2023, with an estimated rental value of £407 per annum per square metre and a reversionary yield of 8%[46][48] - Commercial properties in China have a fair value of HK$41,942,000 as of 30 June 2023, with an adjusted average price of RMB29,491 per square metre[46][48] - The Group's entitlement to use 10,000 square metres in the Shenzhen Building has a net book value of HK$19,535,000 as of 30 June 2023[59] - Investment properties grew to $1,374,418 from $1,307,283, reflecting a 5.1% increase[196] Revenue and Profitability - Group's total revenue for the six months ended 30 June 2023 was HK$1,133,077 thousand, a decrease from HK$1,490,072 thousand in the same period in 2022[88] - Operating loss for the period was HK$273,959 thousand, compared to HK$365,246 thousand in 2022[88] - Loss attributable to owners of the Company was HK$129,158 thousand, an improvement from HK$330,508 thousand in 2022[88] - Basic loss per share was HK$2.59 cents, compared to HK$6.62 cents in 2022[88] - Television broadcasting revenue decreased to HK$409,250 thousand from HK$557,995 thousand in 2022[88] - Internet media revenue declined to HK$373,400 thousand from HK$453,830 thousand in 2022[88] - Outdoor media revenue dropped to HK$265,923 thousand from HK$381,642 thousand in 2022[88] - Real estate revenue significantly decreased to HK$8,795 thousand from HK$25,014 thousand in 2022[88] - Group revenue for the period was approximately HK$1,133,077,000, a decrease of 24.0% compared to the same period last year[116] - Operating loss decreased to approximately HK$273,959,000, a 25.0% reduction compared to the same period last year[116] - Net exchange gain for the period was approximately HK$1,574,000, compared to a loss of HK$68,796,000 in the same period last year[116] - Loss attributable to owners of the company decreased to approximately HK$129,158,000, a 60.9% reduction compared to the same period last year[116] - Operating costs decreased by 24.2% to approximately HK$1,407,036,000[116] - Group's total revenue for the first half of 2023 was HK$1,133,077,000, a decrease from HK$1,490,072,000 in the same period of 2022[155] - Television broadcasting revenue decreased by 26.7% to HK$409,250,000, accounting for 36.1% of the total revenue[155] - Revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel decreased by 26.9% to HK$253,868,000, accounting for 22.4% of the total revenue[155] - Revenue from Phoenix Hong Kong Channel, Phoenix Movies Channel, and other channels decreased by 26.2% to HK$155,382,000[155] - Internet media segment revenue was HK$373,400,000 with a segmental loss of HK$108,095,000[155] - Outdoor media segment revenue was HK$265,923,000 with a segmental loss of HK$24,797,000[155] - Real estate segment revenue was HK$8,795,000 with a segmental loss of HK$9,488,000[155] - Other businesses segment revenue was HK$75,709,000 with a segmental loss of HK$26,405,000[155] - Internet media business revenue decreased by 17.7% to HK$373.4 million, with a segmental loss of HK$108.1 million[156] - Outdoor media business revenue decreased by 30.3% to HK$265.9 million, with a segmental loss of HK$24.8 million[156] - Real estate business reported a segmental loss of HK$9.5 million, compared to a profit of HK$14.0 million in the previous period[156] Media and Brand Performance - Phoenix's social media accounts, including "Phoenix" and "Phoenix TV News," continued to grow in influence and subscriber numbers[95] - Phoenix was listed as one of China's 500 Most Valuable Brands for the 20th consecutive year, ranking among the top four in the media industry[95] - The Group's internet media platform "Phoenix New Media" has maintained leading user numbers and activity levels, with its flagship product "Phoenix News Client" continuing to be one of the most popular mobile terminal information products among Chinese users[99] - The "Phoenix News Client" saw an increase in average usage time and click-through rate in the first half of the year, with significant reports effectively boosting traffic within the app[99] - The "Phoenix WEEKLY" multimedia brand has over 42 million users globally, including approximately 10 million video users[101] - The Group's "Phoenix New Media" has strengthened collaboration with other members of the Group, amplifying synergistic effects in major event reporting and integrated marketing[99] - The Group's original content has sparked discussions on social media, enhancing media influence and increasing the bargaining power of brand advertising[99] - The Group's international programs, such as "Global Observation Group," have shown initial commercial success, with major events like "Women's Awards" and "Global Auto Awards" solidifying industry influence[99] - Phoenix New Media's IFENG News App maintained a leading position among Chinese users, with increased average usage time and click-through rate in the first half of the year[126] - Phoenix Urban Media's outdoor LED media resources cover over 300 cities in China and 30 countries and regions globally[129] - Phoenix Metropolis Media's outdoor LED display panel media resources cover over 300 cities in China with over 1,000 panels and a global network encompassing over 30 countries and regions[153] - The new media brand "Phoenix WEEKLY" matrix has over 42 million local and overseas users with 10 million video users[153] Foreign Exchange and Risk Management - The Group is exposed to foreign exchange risks primarily from USD and RMB, and manages these risks through regular monitoring and potential use of forward currency contracts[106] - The Group's foreign exchange risk is primarily related to USD and RMB, with minimal exposure to Pound Sterling[134] - The Group may consider using forward currency contracts to manage and reduce foreign exchange risks[134] Dividends and Share Options - The Group did not recommend any interim dividend for the six months ended 30 June 2023[42] - No dividend was paid or declared during the six months ended 30 June 2023[57] - No interim dividend was recommended for the period, consistent with the previous year's policy[156] - No share options were granted or exercised under the company's 2017 Share Option Scheme during the period, and 17,720,000 share options granted to 13 employees lapsed[143] - As of 30 June 2023, 410,595,950 share options were available for grant under the 2017 Share Option Scheme, representing approximately 8.22% of the company's total issued share capital[144] - Under the 2008 PNM Share Option Scheme, 8,489,850 share options granted to 14 employees lapsed during the reporting period[146] - No share options were granted or exercised under the 2018 PNM Share Option Scheme during the period, and 5,585,000 share options granted to 10 employees lapsed[150] - 17,720,000 share options granted to 13 employees lapsed during the period under the 2017 Share Option Scheme[169] - The total number of share options available for grant under the 2017 Share Option Scheme is 410,595,950, representing approximately 8.22% of the company's total issued share capital[169] - 8,489,850 share options granted to 14 employees lapsed during the period under the 2008 PNM Share Option Scheme[172] - 5,585,000 share options granted to 10 employees lapsed during the period under the 2018 PNM Share Option Scheme[174] - The balance of share options as of 30 June 2023 under the 2018 PNM Share Option Scheme was 17,860,000[175] Corporate Governance and Structure - The Chairman, Mr. Xu, is not subject to retirement by rotation, deviating from code provision B.2.2, as per the company's Articles of Association[183] - The company has established an Audit Committee with duties including reviewing interim and annual results, financial reports, and accounting principles[186] - The company's Board of Directors includes Mr. Xu Wei as Chairman and CEO, and Mr. Sun Yusheng as Deputy CEO and Editor-in-Chief[191] Assets and Liabilities - Total assets as of 30 June 2023 amounted to $7,064,683, compared to $7,219,408 in the previous period[196] - Non-current assets increased slightly to $3,245,804 from $3,222,681, driven by growth in investment properties and property, plant, and equipment[196] - Current assets decreased to $3,818,879 from $3,996,727, primarily due to a reduction in accounts receivable and bank deposits[196] - Accounts receivable decreased by 19.9% to $720,780 from $899,782[196] - Bank deposits declined by 10.4% to $909,623 from $1,015,174[196] - Purchased programme and film rights, net, increased to $15,582 from $14,207, a 9.7% rise[196] - Cash and cash equivalents remained stable at $1,411,015 compared to $1,374,812[196] - The balance of employee stock options as of 30 June 2023 was 9,540,653, down from 18,030,503 at the start of the year[199] Staff and Costs - The company employed 2,943 staff as of 30 June 2023, a decrease from 2,975 at the end of 2022, with staff costs decreasing to approximately HK$602,301,000 from HK$685,172,000 in the previous period[135] - The Group's unallocated expenses primarily included corporate staff costs, office rental, general administrative expenses, and marketing and advertising expenses[14] Acquisitions and Financing - The Group completed several acquisitions, including 100% equity interests in Phoenix Intelligent Media and Shenzhen Phoenix Star Cultural Industrial Company[156] - The Group's funding and treasury policies focus on maintaining a diversified funding base and managing financial risks[157] - The Group's liquidity and financial resources remained solid, with total borrowings of HK$193.2 million[157] - The Group plans to consolidate existing businesses while exploring new opportunities that complement and enhance current operations, considering various financing methods as needed[107] Miscellaneous - The company's property in the United States with a carrying value of approximately HK$2,562,000 was pledged as collateral for a bank loan, which was fully repaid by 30 June 2023[135] - As of 30 June 2023, the company's authorized share capital was HK$1,000,000,000, divided into 10,000,000,000 ordinary shares, with 4,993,659,500 shares issued and fully paid[135] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the period[161] - No directors or chief executives held any interests or short positions in the company's securities as of 30 June 2023[161] - The Group's total cash and current bank deposits were HK$1,660.6 million, with structured deposits of HK$793.5 million recorded as financial assets[157] - The Group's gearing ratio was 80.8% as of 30 June 2023, slightly improved from 81.7% at the end of 2022[157] - The Group's equity interest in PNM remained unchanged at 54.49%[156] - The Group's unallocated income included exchange gain, interest income, fair value gain on financial assets, and gain on acquisition of subsidiaries[14] - The Group's Hong Kong profits tax was provided at a rate of 16.5% on the estimated assessable profit for the period[17] - The Group is in the process of obtaining the title certificate for 8,500 square metres of entitled areas in the Shenzhen Building through the payment of land premium and taxes[59] - Convertible redeemable preferred shares have a fair value of HK$331,000 with a DLOM (Discount for Lack of Marketability) of 20% and volatility of 50%[53]