Core Viewpoint - TOM Group (02383.HK) reported a slight increase in revenue for the first half of 2025, while reducing its losses compared to the previous year [1] Financial Performance - The group's total revenue for the first half of 2025 was HKD 339 million, representing a year-on-year growth of 1.13% [1] - The loss attributable to equity holders was HKD 98.7 million, an improvement from a loss of HKD 145 million in the same period last year [1] - Basic loss per share was HKD 0.0249 [1] Business Segments - Revenue from the media business amounted to HKD 336 million, with a segment profit of HKD 19 million [1] - Revenue from technology platforms and investment business totaled HKD 3 million, with a segment profit of HKD 900,000, which included a reversal from e-commerce business during the review period [1]

TOM集团(02383)公布2025年中期业绩，持续经营业务综合收入约3.39亿港元，同比增长1.13%;公司权益 持有人应占亏损9869.8万港元，同比收窄32.13%;每股亏损2.49港仙。 公告称，亏损减少反映融资成本下降及摊占联营公司溢利增加，相比之下2024年上半年则取得摊占联营 公司亏损。 ...

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，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：2383） 截至二○二五年六月三十日止六個月之中期業績 主席報告 截至二○二五年六月三十日止六個月，TOM集團繼續專注投資於具增長潛力的業務領域， 包括中國農村電子商貿╱供應鏈、金融科技及先進的大數據分析。集團亦出售一項虧損 業務，以提高股東回報。 二○二五年上半年，地緣政治緊張局勢升級、貿易壁壘及政策不明朗等因素持續影響整 體經濟活動及消費信心。儘管面對這些逆境因素，集團來自持續經營業務的綜合收入仍 增加百分之一點一至港幣三億三千九百萬元。來自集團媒體業務和科技平台及投資的收 入總額分別為港幣三億三千六百萬元及港幣三百萬元。毛利總額由港幣一億三千九百萬元 增加至港幣一億四千五百萬元，而毛利率則由百分之四十一點五提升至百分之四十二點七。 集團投資於中國郵政營運的電子商貿企業郵樂，致力於供應鏈的創新，並於農村電子商 貿業務取得增長。於回顧期內，郵樂錄得淨溢利人 ...

Financial Performance - In 2024, TOM Group's total revenue decreased by 4.8% to HKD 747 million, with media business revenue at HKD 727 million and technology platform and investment revenue at HKD 21 million[12]. - The net loss before financing costs and taxes was HKD 18 million, while the loss attributable to equity holders was HKD 256 million, primarily due to increased financing costs and no reversal of impairment losses[12]. - The group's total revenue decreased by 4.8% to HKD 747 million, with a gross profit margin of 40.7%[25]. - The group's loss attributable to equity holders increased to HKD 256 million from HKD 221 million in the previous year, primarily due to rising financing costs[33]. - The net cash outflow from operating activities for 2024 was HKD 89 million, while the net cash outflow from investment activities was HKD 92 million, primarily due to capital expenditures of HKD 139 million[37]. - The group recorded a net debt of approximately HKD 1.66 billion as of December 31, 2024, compared to HKD 1.29 billion as of December 31, 2023[35]. - The total borrowings of the company and the group amounted to HKD 3,865,000,000 as of December 31, 2024, compared to HKD 3,661,000,000 in 2023[113]. Business Segments - The e-commerce business under China Post, Youle, saw its net loss narrow by 85.9% to RMB 11 million in 2024[12]. - The publishing business in Taiwan generated total revenue of HKD 703 million with a segment profit of HKD 60 million despite challenging market conditions[13]. - The digital media business, Pixnet, reported total revenue of HKD 16 million with a segment loss of HKD 13 million[13]. - The advertising business in mainland China recorded total revenue of HKD 24 million, with segment losses narrowing to HKD 400,000[21]. - The mobile internet group's total revenue was HKD 5 million, down from HKD 6 million last year, with a segment loss of HKD 7 million[29]. Strategic Focus and Growth - The group aims to selectively seek growth opportunities while maintaining stable business performance and prudent financial management[15]. - The group continues to focus on investing in high-growth potential areas, including rural e-commerce, fintech, and advanced big data analytics[12]. - The company plans to accelerate the digital transformation of its publishing business to diversify revenue sources[13]. - The group plans to continue flexible and prudent management of its operations and accelerate the expansion of its digital business in the Greater China region[25]. User and Market Metrics - WeLab has 70 million users and facilitated over USD 15 billion in loans, highlighting its strong market presence in Asia[23]. - User data showed a total of 5 million active users, up from 4 million in the previous quarter, indicating a 25% increase[52]. - Market expansion plans include entering two new international markets by the end of the fiscal year, projected to increase user base by 30%[52]. Corporate Governance - The board consists of seven directors, including the chairman, CEO, two non-executive directors, and three independent non-executive directors, meeting the requirement of one-third independent directors as per listing rules[138]. - The board aims to foster a culture of innovation, collaboration, integrity, and sustainability across all levels of the organization[130]. - The company emphasizes maintaining high corporate governance standards to enhance shareholder value and protect the interests of stakeholders[129]. - The company has established a comprehensive governance framework to maintain a safe and supportive workplace culture[133]. Risk Management - The company has established a comprehensive risk governance framework to systematically identify, assess, manage, and monitor risks that may significantly impact its strategic and business objectives[186]. - The company adopts the COSO framework for enterprise risk management, which facilitates a systematic approach to identifying, assessing, managing, and monitoring risks across strategic, financial, operational, and compliance areas[196]. - The internal control procedures encompass all subsidiaries, joint ventures, and associated companies, ensuring oversight and monitoring of operations[199]. Audit and Compliance - The audit committee confirmed that the financial statements for the year ending December 31, 2024, were prepared in accordance with applicable regulations and standards, and recommended approval to the board[174]. - The total audit fees paid to PwC for the year ending December 31, 2024, amounted to approximately HKD 6,502,000 for audit services and HKD 380,000 for non-audit services, representing about 6% of total fees[182]. - The audit committee reviewed the group's compliance with corporate governance codes and legal regulations, noting adherence to all applicable provisions during the year[179]. Future Outlook - The company provided guidance for the next quarter, expecting revenue to be between $1.3 billion and $1.4 billion, which reflects a growth rate of 8% to 17%[52]. - New product launches are anticipated to contribute an additional $200 million in revenue over the next fiscal year[52]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[52].

Financial Performance - The group's consolidated revenue decreased by 4.8% to HKD 747.02 million for the year ended December 31, 2024, compared to HKD 784.45 million in 2023[8]. - The net loss attributable to equity holders increased to HKD 256.03 million in 2024 from HKD 221.43 million in 2023, reflecting rising financing costs and no reversal of impairment losses[8]. - The net loss for the year was HKD 247,119,000, compared to a net loss of HKD 211,463,000 in the previous year, representing an increase in loss of 16.9%[37]. - The company's equity attributable to shareholders was a deficit of HKD 1,958,033,000, compared to a deficit of HKD 1,595,424,000 in the previous year[40]. - The comprehensive loss for the year includes an annual loss of HKD 256,031,000, reflecting a decrease from the previous year's loss of HKD 221,426,000[45]. Business Segments - The media business generated revenue of HKD 727 million with a segment profit of HKD 59 million, while the technology platform and investment business reported revenue of HKD 21 million with a segment loss of HKD 20 million[10]. - The publishing group in Taiwan recorded total revenue of HKD 703 million and a segment profit of HKD 6 million despite adverse foreign exchange and geopolitical factors[5]. - The social media business, Pixnet, generated revenue of HKD 16 million but incurred a segment loss of HKD 13 million during the year[12]. - The e-commerce segment generated revenue of HKD 5,034,000, while the mobile internet segment contributed HKD 16,214,000, and the social network segment brought in HKD 21,248,000[52]. - The total segment profit before tax for the media business was HKD 68,530,000, while the e-commerce segment reported a loss of HKD 2,492,000[52]. Financial Position - The group's net debt increased to HKD 1.66 billion in 2024 from HKD 1.29 billion in 2023[8]. - Total assets as of December 31, 2024, amounted to HKD 2,801,213,000, with total liabilities of HKD 4,465,109,000[54]. - The total liabilities amounted to HKD 3,934,477,000, an increase from HKD 3,753,455,000 in 2023[40]. - The group's total credit facilities amounted to HKD 4.52 billion, with 85.5% utilized for investments, capital expenditures, and working capital[26]. - The current ratio as of December 31, 2024, was 1.44, down from 1.62 in the previous year[28]. Operational Highlights - WeLab, a fintech investment, has 70 million users and has facilitated over USD 15 billion in loans, highlighting its strong growth momentum[14]. - The company plans to continue seeking growth opportunities while maintaining stable business performance and prudent financial management[5]. - The publishing business will accelerate its digital transformation to diversify revenue sources amid market challenges[5]. - The company employed approximately 1,100 full-time employees, with total employee costs amounting to HKD 294,000,000 for the year[34]. - The group has established five sustainability goals aligned with the United Nations Sustainable Development Goals, focusing on business, talent, environment, and community[76]. Compliance and Governance - The independent auditor's report for the financial statements as of December 31, 2024, will be included in the annual report without any reservations[77]. - The company has complied with all applicable provisions of the corporate governance code throughout the year ending December 31, 2024[78]. - The board of directors consists of executive and non-executive members, including independent non-executive directors[91]. - The annual general meeting is scheduled for May 12, 2025, with a notice to be published in due course[83]. - No buybacks, sales, or redemptions of listed securities occurred during the year ending December 31, 2024[80].

Financial Performance - For the six months ended June 30, 2024, TOM Group's consolidated revenue decreased by 9.6% to HKD 342 million[7]. - The attributable loss to shareholders was HKD 145 million, with a loss excluding one-time impacts increasing from HKD 16 million to HKD 27 million[7]. - The net loss attributable to equity holders was HKD 145.41 million, compared to a loss of HKD 94.55 million in the same period last year, representing a 54% increase in losses[8]. - The group reported a total comprehensive loss of HKD 1,551,841,000 for the period, compared to a loss of HKD 1,290,461,000 previously[45]. - The total accumulated losses reached HKD 6,768,543,000, increasing from HKD 6,646,531,000, indicating a rise of approximately 1.8%[47]. Revenue Breakdown - Revenue from the media business and technology platform and investments amounted to HKD 332 million and HKD 10 million, respectively[7]. - The group's media business generated total revenue of HKD 332.00 million, with a segment profit of HKD 22.00 million, while the technology platform and investment segment reported a revenue of HKD 10.00 million and a segment loss of HKD 14.00 million[11]. - The publishing group in Taiwan recorded total revenue of HKD 328 million and segment profit of HKD 22 million despite challenging market conditions[7]. - The mobile internet segment generated revenue of HKD 332,403,000, reflecting a decrease of HKD 107,000 year-over-year[63]. - Total revenue for the e-commerce segment for the six months ended June 30, 2024, was HKD 10,466,000, with a decrease of HKD 423,000 compared to the previous period[63]. Cash Flow and Financial Position - As of June 30, 2024, the group's cash and bank balances (excluding pledged deposits) were approximately HKD 422.00 million, with total credit facilities of HKD 4.52 billion, of which 82.3% or HKD 371.90 million was utilized[17]. - The group's net debt as of June 30, 2024, was approximately HKD 1.55 billion, an increase from HKD 1.03 billion as of December 31, 2023[8]. - The net cash inflow from operating activities for the six months ended June 30, 2024, was HKD 46,843,000, a decrease of 16.5% compared to HKD 56,089,000 in the same period of 2023[49]. - The total cash and cash equivalents as of June 30, 2024, were HKD 421,797,000, down from HKD 442,158,000 at the end of the previous year[49]. - The company has a net debt of HKD 1.55 billion as of June 30, 2024, indicating a stable financial position supported by available bank financing[50]. Investments and Impairments - The group recognized an impairment loss provision of approximately HKD 14 million for receivables from associates, reflecting reduced credit risk after recovering amounts owed from a subsidiary[18]. - The group recorded a significant impairment loss of HKD 21,374,000 related to receivables from joint ventures, compared to a reversal of HKD 14,471,000 in the previous year[38]. - The investment in WeLab resulted in an unrealized loss of HKD 65.32 million for the same period, with no realized gains or dividends received[25]. - The group recognized a reversal of impairment provision for receivables from joint ventures amounting to HKD 14,471,000 for the six months ended June 30, 2023[75]. Employee and Operational Costs - The group employed approximately 1,100 full-time employees, with total employee costs, including director remuneration, amounting to HKD 148 million for the first six months of the year[29]. - Employee costs decreased to HKD 39,418,000 from HKD 41,361,000, a reduction of approximately 4.7%[76]. - Other operating expenses totaled HKD 67,136,000, down from HKD 68,673,000, reflecting a decrease of about 2.2%[76]. Corporate Governance and Compliance - The company maintains a high level of corporate governance, emphasizing effective risk management and internal controls[127]. - The audit committee, consisting of three independent non-executive directors, oversees financial governance and internal controls[128]. - The company has complied with all applicable provisions of the corporate governance code during the six months ended June 30, 2024[129]. Future Outlook and Strategy - The company plans to continue seeking selective growth opportunities while maintaining stable business performance[7]. - The group plans to continue expanding its digital business and seizing market opportunities to drive further growth[14]. - The company focuses on achieving sustainable and recurring profits while maintaining financial strength and stability, emphasizing revenue growth and rigorous cost management[31].

Financial Performance - TOM Group's consolidated revenue decreased by 9.6% to HKD 342.34 million for the six months ending June 30, 2024, compared to HKD 378.67 million in the same period last year[3]. - The group's media business generated revenue of HKD 332.2 million, while the technology platform and investment segment reported revenue of HKD 10 million[4]. - Shareholders' loss attributable to the company was HKD 145.41 million, an increase from HKD 94.55 million in the previous year[3]. - The net loss of the e-commerce business, Youle, narrowed by 40.8% to RMB 33 million compared to the same period last year[1]. - The publishing group in Taiwan recorded total revenue of HKD 328 million, a decrease of 7.8% due to adverse exchange rates and geopolitical instability[5]. - The social media business, Pixnet, reported total revenue of HKD 8 million with a segment loss of HKD 800,000, impacted by the 2024 Taiwan elections[6]. - The group recorded a revenue of HKD 342.34 million for the six months ending June 30, 2024, a decrease from HKD 378.67 million in the same period last year, representing a decline of approximately 9.6%[16]. - The net loss attributable to shareholders for the period was HKD 145.41 million, compared to a loss of HKD 94.55 million in the previous year, indicating an increase in loss of approximately 54%[16]. - The gross profit margin for the group was 40.2% during the reporting period[16]. - The company reported a loss of HKD 143,459,000 for the six months ended June 30, 2024, compared to a loss of HKD 89,505,000 in the same period of 2023, representing a 60.4% increase in losses[17]. - Total comprehensive expenses for the period amounted to HKD 261,380,000, significantly higher than HKD 106,259,000 in the previous year, indicating a 146.5% increase[17]. - Total loss for the six months ended June 30, 2024, amounted to HKD 1,241,781,000, compared to a loss of HKD 94,547,000 in the previous period[21]. - The group's accumulated losses reached HKD 6,551,257,000 as of June 30, 2024, reflecting an increase from HKD 94,547,000 in the previous period[21]. Assets and Liabilities - The company's total liabilities net of current assets stood at HKD 2,253,201,000, down from HKD 2,462,994,000, a decrease of 8.5%[18]. - The company's equity attributable to shareholders showed a loss of HKD 1,844,889,000 as of June 30, 2024, compared to HKD 1,595,424,000 at the end of 2023, indicating a 15.6% increase in accumulated losses[19]. - Non-current assets decreased from HKD 2,127,657,000 as of December 31, 2023, to HKD 2,037,960,000 as of June 30, 2024, reflecting a decline of 4.2%[18]. - Current assets also decreased from HKD 880,243,000 to HKD 740,048,000, a reduction of 15.9%[18]. - The company's cash and cash equivalents decreased from HKD 494,551,000 to HKD 421,797,000, a decline of 14.7%[18]. - The group's net liabilities stood at HKD 1,552,000,000 as of June 30, 2024, indicating a significant financial position[22]. - The total assets as of June 30, 2024, were HKD 2,778,008,000, with total liabilities amounting to HKD 4,329,849,000[28]. Operational Highlights - The group employed approximately 1,100 full-time employees, with total employee costs, including director remuneration, amounting to HKD 148 million for the first six months of the year[15]. - The group plans to continue optimizing costs and developing new products to capture growth opportunities in the online video platform market[6]. - The group plans to continue flexible and prudent management of its operations and investments in the Greater China region, accelerating the expansion of its digital business[8]. - The company plans to continue focusing on technology platform development and market expansion strategies in the upcoming quarters[27]. - The group operates five reportable segments, including e-commerce, mobile internet, social networking, publishing, and advertising[23]. Financial Management - The group's cash and bank balance (excluding pledged deposits) was approximately HKD 422.2 million as of June 30, 2024[9]. - The total credit facility available to the group was HKD 4.52 billion, with 82.3% utilized, amounting to HKD 3.71 billion for investments, capital expenditures, and working capital[9]. - The group's current ratio (current assets/current liabilities) decreased to 1.41 from 1.62 as of December 31, 2023[10]. - The net cash outflow from operating activities was HKD 62 million, compared to a net outflow of HKD 31 million in the same period last year[10]. - The group’s capital debt ratio increased to 171.6% as of June 30, 2024, from 154.4% as of December 31, 2023[9]. - The company reported a basic loss per share of HKD 0.037[40]. Investments and Stakeholdings - TOM Group holds an 8% stake in WeLab, which has over 64 million users and has facilitated over USD 13 billion in loans[6]. - TOM Group also holds a 6.22% stake in Miaoying Technology, a leading provider of ESG data and software in Asia[6]. - The company reported a net loss from equity-accounted investments of HKD 5,511,000 for the six months ended June 30, 2024, compared to a loss of HKD 13,937,000 in the previous period[31]. - The equity-accounted investments as of June 30, 2024, were valued at HKD 361,736,000, a decrease from HKD 374,996,000 as of December 31, 2023[31]. Sustainability and Corporate Governance - The group has established four sustainability goals aligned with the United Nations Sustainable Development Goals[45]. - The company has focused on achieving sustainable and recurring profits while maintaining financial strength and stability[50]. - The group emphasizes revenue growth, profit management, and rigorous cost control as part of its corporate strategy[50]. - The company has complied with all applicable provisions of the corporate governance code during the six months ended June 30, 2024[47]. - The independent review report by the auditors will be included in the interim results report to shareholders[46]. - There were no repurchases, sales, or redemptions of any listed securities during the six months ended June 30, 2024[49]. Miscellaneous - The past performance of the group does not guarantee future results, and actual performance may differ significantly from forward-looking statements[51].

Financial Performance - The total revenue for TOM Group in 2023 decreased by 5.5% to HKD 784.446 million compared to HKD 830.121 million in 2022[6]. - The loss attributable to equity holders was HKD 221.426 million, compared to a profit of HKD 142.420 million in 2022[5]. - The group's total revenue decreased by 5.5% to HKD 784 million, primarily due to adverse foreign exchange impacts and geopolitical tensions affecting the global economic outlook[12]. - The group reported a loss of HKD 80 million for the year, compared to a profit of HKD 286 million in the previous year, primarily due to increased financing costs and reduced equity earnings[15]. - The group’s attributable loss to equity holders was HKD 221 million, a significant decline from a profit of HKD 142 million in the previous year[16]. - The net loss for the year 2023 was HKD 211,463,000, compared to a profit of HKD 185,193,000 in 2022, indicating a significant decline in performance[180]. - The total comprehensive loss for the year ended December 31, 2023, amounted to HKD 1,010,566,000[186]. Revenue Breakdown - Revenue from the media business was HKD 755.583 million, while revenue from technology platforms and investments was HKD 31.1 million[6]. - Revenue from the media business declined by 3.5% to HKD 757 million, with a segment profit of HKD 70 million[6]. - The social media business, Pixnet, generated total revenue of HKD 25 million, with a segment loss of HKD 15 million[6]. - The publishing business in Taiwan recorded total revenue of HKD 742.2 million, with a segment profit of HKD 73 million[7]. - The advertising business group reported total revenue of HKD 15 million, resulting in a segment loss of HKD 2 million due to an uncertain economic outlook[14]. E-commerce Performance - The e-commerce business, Youle, saw a 47.8% increase in transaction volume to RMB 18.107 billion in 2023[6]. - The total transaction volume for the e-commerce business operated by China Post increased by 47.8% to RMB 18.107 billion in 2023[9]. - The total transaction volume of the e-commerce company Youle, invested by the group, increased by 47.8% to RMB 18.107 billion in 2023[13]. Financial Position - The total assets of the company amounted to HKD 3,007.9 million, while total liabilities were HKD 4,298.361 million[5]. - As of December 31, 2023, the group had cash and bank balances of approximately HKD 538 million, with total credit facilities of HKD 4.52 billion, of which 81% was utilized[17]. - The group’s net current assets were approximately HKD 335 million, down from HKD 426 million the previous year, with a current ratio of 1.62[17]. - The group’s capital debt ratio increased to 154.4% as of December 31, 2023, compared to 135.6% the previous year[17]. - The group's net liabilities as of December 31, 2023, amounted to HKD 1.29 billion[191]. Impairment and Losses - The company confirmed non-cash impairment losses of approximately HKD 14 million related to Youle and HKD 8 million related to goodwill[6]. - The group confirmed a non-cash goodwill impairment of approximately HKD 8 million in the social networking segment due to a challenging market environment[13]. - The impairment provision for goodwill as of December 31, 2023, is HKD 8 million, with the carrying amount of goodwill related to the publishing business group being HKD 500.2 million after impairment[166]. Investments - WeLab, a fintech investment, has over 60 million users and facilitated over USD 13 billion in loans, with TOM Group holding an 8.03% stake[9]. - TOM Group's investment in Miaoying Technology has positioned it as a leading ESG data provider in Asia, with a 6.22% stake held by TOM Group[9]. - The investment in WeLab resulted in an unrealized loss of HKD 150.19 million, with no realized gains or dividends received during the same period[21]. Corporate Governance - The board of directors did not recommend the distribution of dividends for the year[37]. - The company has no stock option plans as of the report date[46]. - The board of directors includes 3 independent non-executive directors, confirming their independence according to the listing rules[44]. - The company has established a Nomination Committee to review the board's structure, size, diversity, and member capabilities, ensuring alignment with corporate strategy and shareholder value[133]. - The board consists of seven directors, including the chairman, CEO, two non-executive directors, and three independent non-executive directors, meeting the requirement of one-third independent directors as per listing rules[83]. Risk Management - The company has adopted a risk management framework aligned with the COSO framework, which systematically identifies, assesses, and manages risks, including sustainability and cyber risks[114]. - The audit committee reviews the comprehensive risk register and risk management reports biannually to ensure effective systems are in place[114]. - The group has implemented a rigorous compliance procedure for legal and regulatory matters, ensuring adherence to local and international laws[117]. Employee and Compensation - The total employee cost for the year, excluding director remuneration, was HKD 308 million, with approximately 1,200 full-time employees as of December 31, 2023[24]. - The group emphasizes competitive compensation and benefits for employees, including medical insurance and retirement funds[24]. - The remuneration for directors and senior management is based on their industry expertise, the group's performance, and comparisons with local and international companies[141]. Sustainability and Corporate Social Responsibility - The group aims to achieve specific environmental targets by 2025, including reducing its operational environmental footprint[154]. - The group has established a Human Rights Policy and emphasizes the importance of diversity, training, and development in its workplace[155]. - The group integrates sustainability into its risk management approach, conducting formal reviews of significant sustainability risks every six months[156]. Shareholder Communication - The company emphasizes transparency and investor relations, providing various communication channels for shareholders and stakeholders[144]. - The company has a shareholder communication policy to ensure timely and fair access to information for all shareholders[125]. - The audit committee regularly reviews the effectiveness and compliance of the shareholder communication policy, which was updated in December 2022 and reviewed again in December 2023[149].

Financial Performance - The group's consolidated revenue decreased by 5.5% to HKD 784.4 million in 2023, down from HKD 830.1 million in 2022[3]. - The group reported a loss attributable to equity holders of HKD 221.4 million, compared to a profit of HKD 142.4 million in the previous year[5]. - The group's loss attributable to equity holders was HKD 221 million, compared to a profit of HKD 142 million in the previous year[17]. - The group recorded a net loss of HKD 211.463 million for the year, compared to a profit of HKD 185.193 million in the previous year, indicating a significant downturn in financial performance[24]. - The basic and diluted loss per share for the year was HKD 5.59, compared to earnings of HKD 3.60 per share in 2022[24]. - Total comprehensive loss for the year amounted to HKD 354,412,000, a stark contrast to a total comprehensive income of HKD 92,761,000 in the previous year[25]. - The company reported a net loss attributable to equity holders of HKD 221,426,000 for the year ended December 31, 2023, compared to a profit of HKD 142,420,000 in 2022[51]. Revenue Breakdown - Revenue from media business amounted to HKD 757.7 million, while revenue from technology platforms and investments totaled HKD 31.1 million[3]. - The trading volume of the e-commerce business, Youle, increased by 47.8% to RMB 18.1 billion in 2023[4]. - The social media business, Pixnet, generated total revenue of HKD 25 million, with a segment loss of HKD 15 million[4]. - The publishing group maintained its market leadership in Taiwan, recording total revenue of HKD 742 million and segment profit of HKD 73 million[4]. - Total revenue for the electronic commerce segment reached HKD 6,169,000, while the social network segment generated HKD 22,694,000, contributing to a total revenue of HKD 784,446,000 for the year ended December 31, 2023[33]. Assets and Liabilities - As of December 31, 2023, TOM Group's cash and bank balances amounted to approximately HKD 538 million, with total credit facilities of HKD 4.52 billion, of which 81% or HKD 3.66 billion has been utilized for investments, capital expenditures, and working capital[18]. - The group's total loan principal as of December 31, 2023, was approximately HKD 3.66 billion, with a capital debt ratio of 154.4%, up from 135.6% a year earlier[18]. - Non-current assets decreased from HKD 2,192,430,000 in 2022 to HKD 2,127,657,000 in 2023, reflecting a reduction of approximately 3%[26]. - Current liabilities increased to HKD 880,243,000 in 2023 from HKD 498,504,000 in 2022, representing a rise of about 76%[26]. - The company's total liabilities increased from HKD 3,544,030,000 in 2022 to HKD 3,753,455,000 in 2023, marking an increase of approximately 6%[27]. - The company reported a total liability of HKD 4,127,448,000 as of December 31, 2023[38]. Operational Insights - The group aims to continue seeking selective growth opportunities while maintaining stable business performance[4]. - The group plans to closely monitor operational and capital expenditures to maintain prudent financial conditions[4]. - The segment loss from technology platforms and investments narrowed by 72.1% to HKD 11 million[7]. - The company operates five reportable business segments: e-commerce, mobile internet, social networking, publishing, and advertising[31]. - The e-commerce segment provides services to users of mobile and internet trading platforms, contributing to overall revenue growth[31]. Employee and Cost Management - As of December 31, 2023, the group employed approximately 1,200 full-time employees, with total employee costs (excluding directors' remuneration) amounting to HKD 308 million[22]. - Employee costs decreased to HKD 83,998,000 in 2023 from HKD 87,091,000 in 2022[43]. - The total operating expenses decreased to HKD 132,166,000 in 2023 from HKD 142,688,000 in 2022[43]. Strategic Focus and Future Plans - The group aims to improve its financial performance by focusing on strategic acquisitions and partnerships in the upcoming fiscal year[33]. - The group is engaged in mergers and acquisitions to achieve profit and cash flow growth[63]. - The group is committed to providing support for addressing social and environmental challenges through its business solutions[63]. - The group has a strategy for investment in fintech and advanced big data analytics[66]. Impairments and Provisions - The group confirmed non-cash impairment losses of approximately HKD 14 million related to Youle and HKD 8 million related to goodwill impairment[3]. - The company recorded a significant impairment charge of HKD 24,418,000 related to goodwill in the electronic commerce segment[33]. - The goodwill impairment provision for the year ended December 31, 2023 was HKD 7,504,000, compared to HKD 18,103,000 in 2022[46]. Tax and Financing - The overseas tax expense decreased to HKD 14,502,000 in 2023 from HKD 18,930,000 in 2022, reflecting a reduction in overseas taxable profits[49]. - The company's financing costs increased significantly to HKD 189,389,000 in 2023 from HKD 83,856,000 in 2022, primarily due to higher bank loan interest and borrowing costs[48].

Business Segments and Operations - TOM Group's interim report for 2023 highlights the company's key business segments, including Media Business, Technology Platform & Investment, and strategic investments in fintech and advanced big data analytics[3][4] - The company's e-commerce platform, Ule Holdings Limited (Ule Group), operates in mainland China and focuses on new retail business development and financing[4] - TOM Group's transaction volume (GMV) is calculated based on all orders processed through Ule Group's platforms, including web, mobile, and desktop applications, regardless of order completion or product/service returns[3] - The company operates five reportable business segments: E-commerce, Mobile Internet, Social Network, Publishing, and Advertising[61] - E-commerce segment revenue for the six months ended June 30, 2023, was HKD 0, with a segment profit of HKD 6,537[64] - Technology platform and investment segment revenue was HKD 3,330, with a segment loss of HKD 8,054[64] - Social network segment revenue was HKD 11,749, with a segment loss of HKD 8,242[64] - Publishing business segment revenue was HKD 355,531, with a segment profit of HKD 36,645[64] - Media business segment revenue was HKD 8,062, with a segment loss of HKD 513[64] - Total revenue for the six months ended June 30, 2023, was HKD 378,672, with a total segment profit of HKD 26,373[64] - Non-current asset expenditures for the six months ended June 30, 2023, totaled HKD 74,931[64] - Total revenue for the six months ended June 30, 2022, was HKD 401,004, with a total segment profit of HKD 17,518[68] - Non-current asset expenditures for the six months ended June 30, 2022, totaled HKD 55,882[68] Financial Performance - TOM Group's consolidated revenue decreased by 5.6% to HKD 379 million, with media business revenue at HKD 364 million and technology platform & investment revenue at HKD 16 million[7] - The Group's gross profit was HKD 155 million, maintaining a gross margin of 41%[7] - The Group's net loss attributable to shareholders was HKD 95 million, with a narrowed loss excluding impairment reversal of HKD 16 million[7] - TOM Group recorded revenue of HKD 379 million with a gross margin of 41% for the six months ended June 30, 2023[17] - TOM Group's net loss attributable to shareholders was HKD 95 million for the six months ended June 30, 2023[17] - Revenue for the six months ended June 30, 2023, decreased to HKD 378.67 million from HKD 401.00 million in the same period last year, representing a decline of 5.6%[36] - Net loss attributable to equity holders of the company was HKD 94.55 million, compared to a net profit of HKD 193.38 million in the prior year period[36] - Total comprehensive loss for the period was HKD 106.26 million, down from a comprehensive income of HKD 182.60 million in the same period last year[38] - The company reported a net loss attributable to equity holders of HKD 94,547,000 for the six months ended June 30, 2023, compared to a profit of HKD 193,379,000 in the same period last year[87] - The company's tax expense for the period was HKD 9,179,000, with overseas tax accounting for HKD 7,161,000[85] - The company did not declare or pay any dividends for the six months ended June 30, 2023[86] Investments and Associates - The company's major associates include WeLab Holdings Limited, a British Virgin Islands-based company, and Mioying Holdings Inc., a Cayman Islands-based company[4] - WeLab has approximately 60 million users and has facilitated around $13 billion in loans[16] - WeLab holds an 8.03% equity stake in TOM Group as of June 30, 2023[16] - Miaozhen Technology expanded its market share in sustainability data and software, covering Greater China, Singapore, and Japan[16] - TOM Group holds a 6.22% equity stake in Miaozhen Technology as of June 30, 2023[16] - The company's significant investment in Youle accounted for 22.39% of the issued share capital, with a carrying value of HKD 371,897,000, representing 12.35% of the company's total assets[24] - The company's investment in WeLab's preferred shares accounted for 8.03% of the issued share capital, with a carrying value of HKD 892,624,000, representing 29.63% of the company's total assets[24] - During the six months ended June 30, 2023, the company recorded a reversal of impairment provision for receivables from Youle of HKD 14.471 million and a share of operating loss of HKD 16.839 million[24] - The company recorded an unrealized profit of HKD 592,000 from the revaluation of its investment in WeLab during the six months ended June 30, 2023[26] - The company's investment in associates decreased to HKD 379,660,000 as of June 30, 2023, from HKD 401,060,000 as of December 31, 2022[94] - The company's share of net loss from associates was HKD 13,937,000 for the six months ended June 30, 2023, compared to a net loss of HKD 35,746,000 in the same period last year[96] Financial Position and Liabilities - TOM Group's cash and bank balances (excluding pledged deposits) were approximately HKD 486 million as of June 30, 2023[19] - TOM Group's total credit facility was HKD 3.72 billion, with 93.4% utilized as of June 30, 2023[19] - TOM Group's net debt position was approximately HKD 1.034 billion as of June 30, 2023[19] - Total assets decreased to HKD 2.47 billion as of June 30, 2023, from HKD 2.62 billion as of December 31, 2022[40] - Cash and cash equivalents stood at HKD 442.16 million as of June 30, 2023, down from HKD 481.67 million as of December 31, 2022[40] - Trade and other receivables decreased to HKD 256.74 million as of June 30, 2023, from HKD 429.17 million as of December 31, 2022[40] - Total current liabilities decreased to HKD 541.40 million as of June 30, 2023, from HKD 583.42 million as of December 31, 2022[40] - Net current assets decreased to HKD 296.57 million as of June 30, 2023, from HKD 426.37 million as of December 31, 2022[40] - Goodwill remained relatively stable at HKD 509.34 million as of June 30, 2023, compared to HKD 509.40 million as of December 31, 2022[40] - The company's equity-accounted investments decreased to HKD 379.66 million as of June 30, 2023, from HKD 401.06 million as of December 31, 2022[40] - Total liabilities increased to HKD 3,504,537 thousand as of June 30, 2023, compared to HKD 3,544,030 thousand as of December 31, 2022[42] - Net liabilities stood at HKD (1,033,804) thousand as of June 30, 2023, compared to HKD (925,226) thousand as of December 31, 2022[42] - Total comprehensive loss for the period ending June 30, 2023, was HKD (106,259) thousand, compared to HKD (89,505) thousand for the same period in 2022[44] - Cash and cash equivalents decreased to HKD 442,158 thousand as of June 30, 2023, from HKD 481,668 thousand at the beginning of the year[49] - Net cash used in operating activities was HKD (30,753) thousand for the six months ending June 30, 2023, compared to HKD 25,672 thousand generated in the same period in 2022[49] - Net cash from investing activities was HKD 71,557 thousand for the six months ending June 30, 2023, compared to HKD (46,998) thousand used in the same period in 2022[49] - Net cash used in financing activities was HKD (76,930) thousand for the six months ending June 30, 2023, compared to HKD 18,267 thousand generated in the same period in 2022[49] - The company's equity attributable to shareholders decreased to HKD (1,357,528) thousand as of June 30, 2023, from HKD (1,241,781) thousand as of December 31, 2022[42] - The company's total accumulated losses increased to HKD (6,768,009) thousand as of June 30, 2023, compared to HKD (6,498,299) thousand as of December 31, 2022[48] - The company's deferred tax liabilities increased to HKD 9,224 thousand as of June 30, 2023, compared to HKD 9,027 thousand as of December 31, 2022[42] - Net liabilities of the company as of June 30, 2023, amounted to HKD 1.034 billion[51] - The company holds 8.03% equity in WeLab as of June 30, 2023, up from 7.74% on December 31, 2022[59] - Total assets measured at fair value as of June 30, 2023, were HKD 1.061 billion, with HKD 1.040 billion in equity securities[57] - Unrecognized gains from the initial recognition of FVOCI financial assets were HKD 12.907 million as of June 30, 2023[59] - The company's investment properties decreased from HKD 21.246 million on December 31, 2022, to HKD 20.677 million on June 30, 2023[58][59] - The company's financial assets at FVOCI include HKD 892.624 million valued by an independent external appraiser as of June 30, 2023[59] - The company's total equity securities under FVOCI increased from HKD 1.035 billion on December 31, 2022, to HKD 1.041 billion on June 30, 2023[57][58] - The company's financial risk management policies remained unchanged since the fiscal year ending December 31, 2022[54] - The company's financial resources are sufficient to support operations and repay liabilities due within 12 months from the reporting date[51] Corporate Governance and Compliance - TOM Group's board of directors includes executive directors, non-executive directors, and independent non-executive directors, with various committees such as audit, remuneration, nomination, and sustainability committees[5] - The company has established an Audit Committee consisting of three independent non-executive directors and one non-executive director, all with relevant financial and commercial management experience[131] - The Audit Committee is responsible for overseeing the company's risk management, internal control systems, and financial reporting, as well as monitoring corporate governance and compliance with statutory and listing rules[131] - The company has complied with all applicable code provisions of the Corporate Governance Code for the six months ended June 30, 2023[132] - All directors have confirmed compliance with the standard code of conduct for securities transactions during the six months ended June 30, 2023[133] - The company or its subsidiaries did not repurchase, sell, or redeem any listed securities during the six months ended June 30, 2023[135] - The company's ordinary shares are listed on the Hong Kong Stock Exchange under the stock code 2383[137] - The company's registered office is located at PO Box 309, Ugland House, Grand Cayman, KY1-1104, Cayman Islands[137] - The company's headquarters and principal place of business is at 16/F, China Resources Building, 26 Harbour Road, Wan Chai, Hong Kong[137] - The company's interim results for 2023 were announced on August 4, 2023[137] - Investor relations inquiries can be directed to the Group Corporate Communications and Investor Relations Department at the company's headquarters[137] Shareholding and Ownership - Director Lu Falan holds 492,000 shares, representing approximately 0.01% of the company's total shares[122] - Director Yang Guomeng's spouse holds 30,000 shares, representing less than 0.01% of the company's total shares[122] - Cheung Kong (Holdings) Limited holds 1,430,120,545 shares, representing 36.13% of the company's total shares[123] - Cheung Kong Investment Company Limited holds 476,341,182 shares, representing 12.03% of the company's total shares[124] - CK Hutchison Global Investments Limited holds 952,683,363 shares, representing 24.07% of the company's total shares[124] - Zhou Kaixuan holds 1,003,432,363 shares, representing 25.35% of the company's total shares[124] - Cranwood Company Limited holds 995,078,363 shares, representing 25.14% of the company's total shares[124] - Schumann International Limited holds 580,000,000 shares, representing 14.65% of the company's total shares[124] - Handel International Limited holds 348,000,000 shares, representing 8.79% of the company's total shares[124] - Lin Tianmao holds 526,610,000 shares, representing 13.30% of the company's total shares[124] - The company's issued and fully paid share capital remained unchanged at 3,958,510,558 ordinary shares with a nominal value of HKD 0.1 each[113] Sustainability and Strategy - The company focuses on achieving recurring and sustainable profitability and cash flow without compromising its financial strength and stability, with a strategy centered on revenue growth, profit and cost management, and mergers and acquisitions[31] - The company's sustainability mission is to create long-term value for all stakeholders by aligning corporate social responsibility and sustainability goals with business strategy development[32] Employee and Operational Costs - The company employed approximately 1,100 full-time employees as of June 30, 2023, with employee costs, including directors' remuneration, amounting to HKD 156 million for the first six months of the year[29] - Employee costs for the six months ended June 30, 2023, were HKD 41,361,000, slightly higher than the HKD 41,275,000 recorded in the same period in 2022[80] - The company's other operating expenses, net, for the six months ended June 30, 2023, were HKD 68,673,000, slightly higher than the HKD 68,283,000 recorded in the same period in 2022[80] - The company's other income/(loss), net, for the six months ended June 30, 2023, was HKD 4,470,000, a significant improvement from the HKD (10,468,000) loss recorded in the same period in 2022[81] - Net financing costs for the six months ended June 30, 2023, were HKD 78,575,000, primarily driven by bank loan interest and borrowing costs of HKD 80,577,000[83] Receivables and Payables - Accounts receivable increased from HKD 197,689 thousand to HKD 212,379 thousand, with overdue receivables over 90 days rising from HKD 63,092 thousand to HKD 50,775 thousand[103] - Prepayments and other receivables from associates decreased significantly from HKD 173,113 thousand to HKD 12,071 thousand[103] - Restricted cash remained stable at approximately HKD 6,160 thousand (NTD 24,342 thousand)[107] - Accounts payable decreased from HKD 534,537 thousand to HKD 507,217 thousand, with current payables dropping from HKD 59,291 thousand to HKD 52,840 thousand[108][110] - Long-term bank loans decreased from HKD 3,526,297 thousand to HKD 3,473,471 thousand, with new borrowings of HKD 107,000 thousand and repayments of HKD 160,000 thousand[111] - The company paid HKD 8,590 thousand in guarantee fees to a major shareholder for a HKD 3.7 billion loan facility[117] - Sales of goods and services to associates decreased significantly from HKD 2,503 thousand to HKD 150 thousand[116] - The company's receivable from associates of RMB 155 million was interest-free, unsecured, and collected in January 2023[103] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 3,012,129,000, with significant contributions from the technology platform and e-commerce segment (HKD 822,648,000) and mobile internet segment (HKD 1,083,417,000)[72] - Total liabilities as of June 30, 2023, stood at HKD 4,045,933,000, including corporate liabilities of HKD 92,876,000 and deferred tax liabilities of HKD 9,224,000[72] - The company's total assets as of December 31, 2022, were HKD 3,202,222,000, with a significant portion attributed to the technology platform and e-commerce segment (HKD 937,358,000)[75] - Total liabilities as of December 31, 2022, were HKD 4,127,448,000, including corporate liabilities of HKD 91,473,000 and deferred tax liabilities of HKD 9,027,000