乐华娱乐集团 YH Entertainment Group Interim Report 股份代號 Stock Code : 2306 中期 乐华娱乐集团 @ > 9 0 92 0 80-0 9 送 华 娱 乐 YUE HUA ENTERTAINMENT 目錄 公司資料 2 財務摘要 4 管理層討論及分析 5 其他資料 17 中期簡明綜合全面收益╱（虧損）表 26 中期簡明綜合財務狀況表 28 中期簡明綜合權益變動表 30 中期簡明綜合現金流量表 32 中期簡明綜合財務資料附註 33 釋義及詞彙 63 公司資料 董事 執行董事 杜華女士（董事長兼首席執行官） 孫一丁先生 孫樂先生 非執行董事 孟鈞先生 姚璐女士（於2024年2月5日辭任） 獨立非執行董事 范輝先生 呂濤先生 黃九嶺先生 審核委員會 范輝先生（主席） 呂濤先生 黃九嶺先生 薪酬委員會 呂濤先生（主席） 孫一丁先生 黃九嶺先生 提名委員會 杜華女士（主席） 呂濤先生 范輝先生 聯席公司秘書 張文勝先生 鍾明輝先生 授權代表 孫一丁先生 鍾明輝先生 註冊辦事處 PO Box 309, Ugland House Grand Cayman KY1-11 ...

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之內容概不 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所產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 收 入 347,270 364,821 (4.8%) 毛 利 89,072 76,161 17.0% 毛利率 25.6% 20.9% 22.5% 營業利潤 35,197 1,793 1,863.0% 所 得 稅 前 利 潤╱（虧 損） 44,013 (160,747) 不適用 期 內 利 潤╱（虧 損） 29,351 (175,913) 不適用 非 國 際 財 務 報 告 準 則 指 標： 期內經調整淨利潤 59,060 49,892 18.4% YH Entertainment Group 樂華娛樂集團 （於開曼群島註冊成立的有限公司） （股份代號：2306） 截 至2024年6月30日止六個月之 中期業績公告 董事會欣然宣佈本集團截至2024年6月30日止六個月之未經審核綜合中期業績， 連 同2023年 同 期 之 比 較 數 字： 財務摘要 ...

乐华娱乐集团 YH Entertainment Group Annual Report 股份代號 Stock Code : 2306 l O ANNUAL REPORT 乐华娱乐集团 YH'SPAC e 乐 华 娱 乐 YUE HUA ENTERTAINMENT 公司資料2 管理層討論及分析4 董事及高級管理層 19 環境、社會及管治報告 24 董事會報告 49 企業管治報告 69 獨立核數師報告 84 綜合全面收益表 88 綜合財務狀況表 90 綜合權益變動表 92 綜合現金流量表 94 綜合財務報表附註 95 財務概要 179 釋義及詞彙 180 目錄 公司資料 董事 執行董事 杜華女士（董事長兼首席執行官） 孫一丁先生 孫樂先生 非執行董事 孟鈞先生（於2023年6月28日獲委任） 姚璐女士（於2024年2月5日辭任） 孟慶光先生（於2023年6月28日辭任） 趙文婕女士（於2023年6月28日辭任） 獨立非執行董事 范輝先生 呂濤先生 黃九嶺先生 審核委員會 范輝先生（主席） 呂濤先生 黃九嶺先生 薪酬委員會 呂濤先生（主席） 孫一丁先生 黃九嶺先生 提名委員會 杜華女士（主席） 呂濤先生 范輝先生 ...

Revenue Decline - Total revenue decreased by 22.9% to RMB 755.7 million in 2023 from RMB 980.3 million in 2022, primarily due to a decline in artist management revenue[2][5] - Artist management revenue accounted for 87.7% of total revenue, decreasing by 22.2% to RMB 662.9 million in 2023[7] - Music IP production and operation revenue declined by 28.7% to RMB 70.3 million, representing 9.3% of total revenue[7] - Pan-entertainment business revenue decreased by 25.1% to RMB 22.5 million, maintaining a 3.0% share of total revenue[7] - Artist management revenue decreased by 22.2% from RMB 851.6 million in 2022 to RMB 662.9 million in 2023, primarily due to reduced demand for artist services as business partners tightened budgets for endorsements and promotional activities[8] - Music IP production and operation revenue decreased by 28.7% from RMB 98.6 million in 2022 to RMB 70.3 million in 2023, mainly due to reduced sales of digital singles and albums[10] - Pan-entertainment business revenue decreased by 25.1% from RMB 30.0 million in 2022 to RMB 22.5 million in 2023, primarily due to reduced income from program format licensing and virtual artist commercial development[12] - Global revenue decreased by 22.9% from RMB 980.3 million in 2022 to RMB 755.7 million in 2023, primarily due to reduced income from artist management[17] - Revenue from artist management decreased to RMB 662.878 million in 2023 from RMB 851.604 million in 2022, a decline of 22.2%[76] - Music IP production and operations revenue dropped to RMB 70.299 million in 2023 from RMB 98.610 million in 2022, a decrease of 28.7%[76] - Total revenue for the group fell to RMB 755.681 million in 2023 from RMB 980.254 million in 2022, a decline of 22.9%[76] - Revenue from pan-entertainment business dropped to RMB 22.504 million in 2023 from RMB 30.040 million in 2022, a decrease of 25.1%[76] Profit and Loss - Gross profit dropped by 51.8% to RMB 175.0 million in 2023, with gross margin declining from 37.0% to 23.2%[2] - Operating profit fell sharply by 85.3% to RMB 31.1 million in 2023[2] - The company reported a net loss of RMB 142.6 million in 2023, compared to a net profit of RMB 1,725.2 million in 2022, mainly due to a RMB 160.5 million fair value loss on convertible preferred shares[5] - Adjusted net profit decreased by 60.5% to RMB 105.2 million in 2023[2] - Artist management gross profit decreased by 55.4% from RMB 295.9 million in 2022 to RMB 132.0 million in 2023, with gross margin dropping from 34.7% to 19.9% due to reduced revenue and increased operating costs, including higher concert expenses[8] - Music IP production and operation gross profit decreased by 39.7% from RMB 47.1 million in 2022 to RMB 28.4 million in 2023, with gross margin dropping from 47.8% to 40.4% due to a larger decline in revenue compared to cost reductions[10] - Pan-entertainment business gross profit decreased by 27.0% from RMB 20.1 million in 2022 to RMB 14.6 million in 2023, with gross margin slightly dropping from 66.8% to 65.1% due to reduced income from higher-margin activities[12] - Gross profit decreased from RMB 363.1 million in 2022 to RMB 175.0 million in 2023, with gross margin dropping from 37.0% to 23.2%[21] - Artist management gross profit decreased by 55.4% from RMB 295.9 million in 2022 to RMB 132.0 million in 2023, with gross margin falling from 34.7% to 19.9%[22] - Music IP production and operation gross profit decreased by 39.7% from RMB 47.1 million in 2022 to RMB 28.4 million in 2023, with gross margin dropping from 47.8% to 40.4%[23] - Pan-entertainment business gross profit decreased by 27.0% from RMB 20.1 million in 2022 to RMB 14.6 million in 2023, with gross margin slightly declining from 66.8% to 65.1%[24] - The company reported a net loss of RMB 142.6 million in 2023, compared to a net profit of RMB 1,725.2 million in 2022[41] - Adjusted net profit margin was 13.9% in 2023, down from 27.2% in 2022[43] - Net loss for the year ended December 31, 2023, was RMB 142.588 million, compared to a net profit of RMB 1,725.185 million in 2022[44] - Adjusted net profit under non-IFRS measures was RMB 105.218 million in 2023, down from RMB 266.553 million in 2022[44] - Basic loss per share for 2023 was RMB (0.17), compared to a basic earnings per share of RMB 3.72 in 2022, reflecting a net loss attributable to owners of RMB (140,837) thousand[85] - Diluted loss per share for 2023 was RMB (0.17), the same as the basic loss per share, due to the anti-dilutive effect of potential ordinary shares[87] Business Expansion and Initiatives - The company launched YH SPACE, an interactive store combining entertainment and retail, which has become a popular destination since its opening in September 2023[3] - Established an AIGC (Artificial Intelligence Generated Content) company to create digital avatars for artists, aiming to enhance competitiveness in the pan-entertainment market[5] - The company plans to enhance artist training capabilities with the launch of its own artist training center in 2024, aiming to improve the quality and quantity of signed artists[9] - The company will continue to develop its music IP production and operation business, focusing on creating digital singles and albums for artists and expanding its music IP library through acquisitions of high-quality music works[10] - YH SPACE, an interactive store selling artist-related merchandise, has become a popular destination since its opening in September 2023, diversifying fan engagement and marking a milestone in combining entertainment and retail[12] - The company has established an AIGC company with a business partner to create digital avatars for artists, aiming to explore more opportunities in the AIGC industry and further diversify its services[12] - The company expanded its global presence by releasing music on international platforms like Apple Music, Spotify, YouTube, and KKBox, promoting Chinese pop culture globally[14] - The company participated in the talent show "Asia Super Young," which led to the debut of "LOONG 9," with four top-ranking members being company artists, showcasing its ability to cultivate globally influential artists[15] - The company established YH Entertainment USA in California to enhance its brand influence in the international market and plans to explore opportunities in Southeast Asia and Japan[16] Financial Position and Expenses - Operating costs decreased by 5.9% from RMB 617.2 million in 2022 to RMB 580.6 million in 2023, primarily due to reduced artist management revenue sharing[19] - Artist management revenue sharing decreased by 13.3% from RMB 431.8 million in 2022 to RMB 374.5 million in 2023, reflecting lower demand for artist services[19] - Employee benefits expenses decreased from RMB 20.9 million in 2022 to RMB 14.7 million in 2023, primarily due to reduced employee bonuses[20] - Sales and marketing expenses remained relatively stable at RMB 38.6 million in 2023 compared to RMB 37.6 million in 2022[28] - General and administrative expenses increased by 12.3% from RMB 119.5 million in 2022 to RMB 134.2 million in 2023, mainly due to increased equity-settled share-based payments and employee benefits expenses[32] - Net impairment loss on financial assets was RMB 7.7 million in 2022 and RMB 8.7 million in 2023, primarily related to trade receivables, investments measured at amortized cost, and other receivables[33] - Other income in 2023 totaled RMB 22.8 million, with government grants contributing RMB 21.6 million, input tax deductions RMB 686 thousand, and rental income from investment properties RMB 478 thousand[35] - Net other gains in 2023 were RMB 14.7 million, including RMB 4.3 million from fair value gains on wealth management products and RMB 10.5 million from fair value gains on non-listed entities[37] - Net finance income for 2023 was RMB 31.5 million, compared to RMB 0.3 million in 2022, driven by interest income from bank deposits and investments[38] - Share of losses from equity-accounted investments increased to RMB 7.2 million in 2023 from RMB 3.1 million in 2022, mainly due to higher losses from associates[39] - Fair value change of convertible preferred shares was RMB 160.5 million, which was reclassified from financial liabilities to equity after the company's IPO in January 2023[40] - Income tax expense for 2023 was RMB 37.5 million[41] - Financial assets measured at fair value through profit or loss decreased by 31.4% from RMB 335.8 million in 2022 to RMB 230.5 million in 2023, primarily due to the redemption of wealth management products[45] - Trade receivables decreased by 26.4% from RMB 129.9 million in 2022 to RMB 95.7 million in 2023, consistent with the decline in revenue[46] - Prepayments increased significantly from RMB 44.6 million in 2022 to RMB 519.1 million in 2023, mainly due to the acquisition of a property in Beijing[47] - Trade payables decreased by 21.5% from RMB 190.6 million in 2022 to RMB 149.6 million in 2023, primarily due to reduced revenue sharing from artist management business[50] - Contract liabilities increased by 23.3% from RMB 160.2 million in 2022 to RMB 197.6 million in 2023, driven by prepayments from new commercial contracts[53] - Cash and cash equivalents increased from RMB 528.7 million in 2022 to RMB 613.4 million in 2023, with restricted cash of RMB 12.3 million[54] - Borrowings increased from RMB 66.3 million in 2022 to RMB 266.2 million in 2023, including loans for property acquisitions in China and South Korea[54] - Capital gearing ratio stood at 21.1% as of December 31, 2023[55] - The company acquired a property in Beijing for RMB 480 million, located at No. 28 Chuangyuan Road, Chaoyang District, Beijing, China[56] - Total employee benefit expenses, including share-based payments, for the year ended December 31, 2023, were RMB 164.2 million, a 2.5% increase compared to RMB 160.2 million in the previous year[60] - The company's net foreign exchange loss for the reporting period was RMB 6.0 million, compared to RMB 5.4 million in the previous year[61] - As of December 31, 2023, the company had mortgaged properties, plant and equipment, investment properties, and certificates of deposit with a total book value of RMB 115.7 million to secure bank loans[62] - Total assets increased to RMB 2,044,926 thousand in 2023 from RMB 1,322,271 thousand in 2022, reflecting a growth of approximately 54.6%[66] - Non-current liabilities decreased to RMB 298,964 thousand in 2023 from RMB 877,717 thousand in 2022, a reduction of approximately 65.9%[67] - Current liabilities also decreased to RMB 422,817 thousand in 2023 from RMB 561,407 thousand in 2022, a decline of approximately 24.7%[67] - The company's cash and cash equivalents increased to RMB 613,371 thousand in 2023 from RMB 528,660 thousand in 2022, showing a growth of approximately 16%[66] - Non-current assets in Mainland China increased significantly to RMB 524.377 million in 2023 from RMB 41.831 million in 2022[75] - Revenue recognized at a point in time remained stable at RMB 243.885 million in 2023 compared to RMB 243.490 million in 2022[77] - Revenue recognized over a period of time decreased to RMB 511.796 million in 2023 from RMB 736.764 million in 2022, a decline of 30.5%[77] - Government grants increased substantially to RMB 21.647 million in 2023 from RMB 314,000 in 2022[81] - Total operating costs, sales, and administrative expenses decreased slightly to RMB 753.410 million in 2023 from RMB 774.273 million in 2022[80] - Expected revenue to be recognized within one year increased to RMB 173.054 million in 2023 from RMB 129.596 million in 2022[79] - Other net income for 2023 was RMB 14,707 thousand, compared to RMB 10,044 thousand in 2022, with significant contributions from non-listed entity fair value gains of RMB 10,500 thousand and disposal gains of associates of RMB 2,171 thousand[82] - Financial income net for 2023 was RMB 31,514 thousand, a significant increase from RMB 291 thousand in 2022, driven by higher bank deposit interest income of RMB 21,186 thousand and interest income from investments measured at amortized cost of RMB 14,325 thousand[82] - Income tax expense for 2023 decreased to RMB 37,518 thousand from RMB 66,247 thousand in 2022, with a notable reduction in China enterprise income tax from RMB 61,861 thousand to RMB 36,209 thousand[83] - Financial assets at fair value through profit or loss decreased to RMB 230,505 thousand in 2023 from RMB 335,811 thousand in 2022, with a significant reduction in wealth management product investments from RMB 290,265 thousand to RMB 107,000 thousand[89] - The company invested RMB 70,000 thousand in structured deposits with principal protection and floating returns in 2023, which matured within the same year[90] - Non-listed fund investments increased to RMB 68,418 thousand at the end of 2023, with new additions of RMB 64,581 thousand and fair value changes of RMB 3,487 thousand[92] - Non-listed entity investments grew to RMB 40,157 thousand at the end of 2023, with fair value changes contributing RMB 10,500 thousand[93] - Listed equity securities investments reached RMB 14,930 thousand at the end of 2023, with fair value changes of RMB 215 thousand[94] - Trade receivables decreased to RMB 95,687 thousand (net) at the end of 2023, down from RMB 129,940 thousand in 2022, with a significant increase in impairment provisions to RMB 30,365 thousand[95] - Trade receivables aged over 3 months increased to RMB 39,569 thousand at the end of 2023, compared to RMB 48,498 thousand in 2022[96] - Investments measured at amortized cost surged to RMB 300,754 thousand at the end of 2023, up from RMB 87,280 thousand in 2022, with new additions of RMB 388,371 thousand[98] - Trade payables decreased to RMB 149,603 thousand at the end of 2023, down from RMB 190,619 thousand in 2022, with a notable reduction in payables aged 3 to 6 months to RMB 45,094 thousand[100] - Share-based compensation expenses remained stable at RMB 92,187 thousand in 2023, compared to RMB 91,113 thousand in 2022, with an expected retention rate close to 100%[101] IPO and Capital Allocation - The company completed its initial public offering (IPO) on the Hong Kong Stock Exchange on January 19, 2023[69] - The company's global offering net proceeds amounted to approximately HKD 398.4 million after deducting underwriting commissions and related expenses[107] - 60% of the net proceeds (HKD 239.0 million) were allocated for continuous investment in artist operations, with HKD 205.4 million already utilized and HKD 33.6 million remaining[108] - 45% of the net proceeds (HKD 179.3 million) were fully utilized for the acquisition and renovation of an artist training center in China[108] - 15% of the net proceeds (HKD 59.7 million) were allocated for artist operations and promotion in China, with HKD 26.1 million utilized and HKD 33.6 million remaining, expected to be fully utilized by the end of 2024[108] - 15% of the net proceeds (HKD 59.8 million) were allocated for expanding the music IP library, with HKD 27.1 million utilized and HKD 32.7 million remaining, expected to be fully utilized by the end of 2024[108] - 15% of the net proceeds (HKD 59.8 million) were allocated for expanding the pan-entertainment business, with HKD 29.9 million utilized and HKD 29.9 million remaining, expected to be fully utilized by the end of 2024[108] - 5% of the net proceeds (HKD 19.9 million) were allocated for promoting artists' performances in other countries, with HKD 3.8 million utilized and HKD 16.1 million remaining, expected to be fully utilized by the end

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之內容概不 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所產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 溫 馨 提 示： 樂華娛樂集團 用 簡 體，謝 謝 YH Entertainment Group 樂華娛樂集團 （於開曼群島註冊成立的有限公司） （股份代號：2306） 截 至2022年12月31日止年度的 年報的補充公告 茲提述 樂華娛樂集團（「本公司」）截 至2022年12月31日 止 年 度 的 年 報（「2022年 年 報」）。除 另 有 所 指 外，本 公 告 所 用 詞 彙 與2022年 年 報 所 界 定 者 具 有 相 同 涵 義。 除2022年 年 報 內「管 理 層 討 論 及 分 析」一 節 所 披 露 的 資 料 外，本 公 司 謹 此 向 股 東 及 本 公 司 潛 在 投 資 者 提 供 以 下 額 外 資 料。下 表 載 列 有 關 本 公 司 所 持 一 項 價 值 佔本集團於2022年12月31日的總資產的5%或 ...

股份代號 股份代號 Stock Code : 2306 Stock Code : 2306 YH ENTERTAINMENT GROUP YH ENTERTAINMENT GROUP 目錄 公司資料 2 管理層討論及分析 3 其他資料 15 中期簡明合併全面（虧損）╱收益表 23 中期簡明合併財務狀況表 25 中期簡明合併權益變動表 27 中期簡明合併現金流量表 29 中期簡明合併財務資料附註 30 財務摘要 76 公司資料 董事 主要股份過戶登記處 ...

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之內容概不 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所產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 YH Entertainment Group 樂華娛樂集團 （於開曼群島註冊成立的有限公司） （股份代號：2306） 截 至2023年6月30日止六個月之 中期業績公告 董事會欣然宣佈本集團截至2023年6月30日止六個月之未經審核合併中期業績， 連 同2022年 同 期 之 比 較 數 字： 財務摘要 | --- | --- | --- | --- | |------------------------------------|----------------------------------------------------------------|----------------------------------------------------|----------| | | | | | | | 截 至 6 月 30 | 日止六個月 ...

乐华娱乐集团 YH Entertainment Group 於百慕遂註冊成立之有限公司 乐 华 娱 乐 YUE HUA ENTERTAMMENT 股份代號 : 2306 * 僅供識別 � . ● � � 8000 PRODUCTIO ● THE PERSONAL PRODUCT 在线 目錄 2 | --- | |----------------------| | | | 公司資料 | | 管理層討論及分析 | | 董事及高級管理層 | | 環境、社會及管治報告 | | 董事會報告 | | 企業管治報告 | | 獨立核數師報告 | | 合併全面收益表 | | 合併財務狀況表 | | 合併權益變動表 | | 合併現金流量表 | | 合併財務報表附註 | | 財務概要 | | 釋義及詞彙 | 3 19 24 46 62 76 80 82 84 86 87 179 180 公司資料 董事 執行董事 杜華女士（董事長兼首席執行官） 孫一丁先生 孫樂先生 非執行董事 姚璐女士 孟慶光先生 趙文婕女士 獨立非執行董事 范輝先生 呂濤先生 黃九嶺先生 審核委員會 范輝先生（主席） 呂濤先生 黃九嶺先生 薪酬委員會 呂濤先生（ ...

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之內容概不 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所產生或因倚賴該等內容而引致的任何損失承擔任何責 任。 YH Entertainment Group 樂華娛樂集團 （於開曼群島註冊成立的有限公司） （股份代號：2306） 截 至2022年12月31日止年度之 全年業績公告 董事會欣然宣佈本集團截至2022年12月31日 止 年 度 之 經 審 核 合 併 業 績，連 同 2021年 同 期 之 比 較 數 字： 財務摘要 | --- | --- | --- | --- | |------------------------------------|----------------------------------------------------------------------|--------------------|----------| | | 2022 年 \n（人 民 幣 以 千 元 \n百 分 比 除 外） | 2021 年 \n ...