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分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 。 PCCW Limited 電訊盈科有限公司 （於香港註冊成立的有限公司） （股份代號：0008） 於本公告日期，本公司的董事如下： 執行董事 香港電訊信託與香港電訊有限公司 截至2025年6月30日止六個月的中期業績公告 電訊盈科有限公司（「本公司」）知悉香港電訊管理有限公司（以其作為香港電訊 信託託管人－經理身份）與香港電訊有限公司（「香港電訊」）於今天發表的公告 （www.hkt.com/ir），內容關於香港電訊信託與香港電訊連同香港電訊的附屬公司截 至 2025 年 6 月 30 日止六個月的未經審核綜合業績。本公司確認現時持有香港電訊 信託與香港電訊已發行股份合訂單位總數約百分之五十二點二四。 本公告乃根據《香港聯合交易所有限公司證券上市規則》第13.09(2)(a)條及《證券及 期貨條例》（香港法例第571章）第XIVA部內幕消息條文而作出。 承董事會命 電訊盈科有限公司 集團法律事務總監兼 ...

金融界7月16日消息，上证指数低开震荡，中证香港300低贝塔指数 (H300LB，H30231)报1826.59点。 从中证香港300低贝塔指数持仓样本的行业来看，公用事业占比17.51%、工业占比15.50%、金融占比 14.35%、通信服务占比10.70%、房地产占比9.16%、可选消费占比8.43%、主要消费占比8.37%、能源占 比6.01%、原材料占比4.38%、医药卫生占比4.32%、信息技术占比1.27%。 资料显示，指数样本每半年调整一次，样本调整实施时间分别是每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整，调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前，权重因子一般固定不变。特殊情况下将对中证香港策略指数系列进行临时调整。当样本退市 时，将其从指数样本中剔除。样本公司发生收购、合并、分拆、停牌等情形的处理，参照计算与维护细 则处理。 据了解，中证香港策略指数系列从多种策略投资的角度反映了在香港交易所上市证券的整体表现。该指 数以2005年12月30日为基日，以1000.0点为基点。 从指数持仓来看，中证香港300低贝塔指数十大权重分别为：伟禄集团（ ...

Core Viewpoint - The strategic partnership between PCCW Solutions Holdings Limited and Lenovo Group aims to enhance the IT solutions business in the Asia-Pacific region through a significant transaction valued at $613.6 million, which includes both cash and equity components [1][2]. Group 1: Transaction Details - The agreement involves the sale of 80% of PCCW Lenovo Technology Solutions and 20% of PCCW Network Services to Lenovo Group for a total consideration of $613.6 million, with $513.6 million paid in cash and $100 million through equity issuance [1]. - Upon completion, the company will indirectly hold 80% of PCCW Network Services and maintain 100% ownership of its enterprise solutions, while Lenovo will directly own 80% of PCCW Lenovo Technology Solutions and 20% of PCCW Network Services [1]. Group 2: Strategic Benefits - The transaction is expected to leverage the combined strengths of both companies to accelerate the expansion of the IT solutions business in the Asia-Pacific region [2]. - It aims to optimize resource allocation and capture growth opportunities in the IT solutions industry, creating value through synergies from the partnership [2]. - Lenovo Group will gain control over PCCW Lenovo Technology Solutions, enhancing its capabilities in system integration and application development, which are crucial for expanding its IT service offerings [2][3]. Group 3: Market Positioning - The IT solutions business is recognized as a leading IT service provider in the Asia-Pacific region with over 20 years of strong performance [2]. - The partnership allows Lenovo to enhance its service portfolio, expand its customer base, and improve regional and vertical coverage in the IT services market [2]. - The collaboration is strategically significant for Lenovo's long-term development and diversification into the IT services sector, aligning with the trend of digital transformation [2][3].

Subscriber Growth - Viu's subscriber base grew by 17% to 15.5 million, with strong growth in Indonesia, Malaysia, and Thailand[4]. - Viu's subscription user base grew by 17% to 15.5 million, with subscription revenue increasing by 15%[25]. - ViuTV's registered user base grew by 6% year-on-year to over 3.2 million, indicating strong engagement among younger audiences[29]. Revenue and Financial Performance - Revenue increased by 3% to HKD 37.557 billion, while EBITDA reached HKD 12.849 billion[5]. - Total revenue for the year ended December 31, 2024, increased to HKD 37,557 million, up from HKD 36,347 million in 2023, representing a growth of 3.3%[63]. - Total revenue (excluding mobile communications product sales) increased by 2% to HKD 32.031 billion, with overall revenue rising by 1% to HKD 34.753 billion[21]. - The revenue from the media business reached HKD 3,515 million in 2024, up from HKD 3,404 million in 2023, marking a growth of about 3.3%[80]. - The external revenue from Hong Kong increased to HKD 29,145 million in 2024, compared to HKD 28,477 million in 2023, reflecting a growth of about 2.3%[83]. EBITDA and Profitability - EBITDA for Hong Kong Telecommunications was HKD 13.743 billion in 2024, reflecting a 3% growth from the previous year[14]. - The EBITDA for the group in 2024 was HKD 12,849 million, slightly up from HKD 12,831 million in 2023, indicating a stable performance[82]. - The overall EBITDA margin for Hong Kong Telecommunications was 40% in 2024, up from 39% in 2023[16]. - Operating profit for the year was HKD 5.388 billion, an 8% increase compared to the previous year[14]. Loss and Net Income - The company reported a significant reduction in loss attributable to equity holders to HKD 300 million for the year[4]. - The net profit for the year decreased to HKD 1,941 million, down from HKD 2,090 million in 2023, reflecting a decline of 7.1%[63]. - The basic and diluted loss per share for the year was HKD 3.88, compared to HKD 6.10 in 2023[63]. - The loss attributable to equity holders of the company narrowed significantly to HKD 300 million, compared to HKD 471 million in the previous year[43]. Dividends - The final dividend declared is HKD 0.2848 per share, totaling an annual dividend of HKD 0.3825 per share[4]. - Proposed final dividend per share is HKD 0.4588, bringing the total annual dividend to HKD 0.7880[22]. - The company proposed a final dividend of HKD 0.2848 per share for the year ending December 31, 2024, consistent with the previous year[55]. Advertising Revenue - Viu's advertising revenue grew by 17% due to the introduction of an AVOD model for connected TV users[7]. - Viu's advertising revenue increased by 17% year-on-year, driven by sponsorships and the introduction of an AVOD model[26]. Operating Costs - Total operating costs increased by 6% year-on-year, amounting to HKD 19.127 billion in 2024[14]. - Operating costs rose by 3% to HKD 5.581 billion, primarily due to increased promotional expenses for OTT services[35]. Customer and Service Growth - Mobile communication service revenue grew by 5% to HKD 11.484 billion in 2024, driven by increased roaming contributions and a growing postpaid customer base[17]. - Roaming revenue increased by 37% year-on-year, reaching 98% of pre-pandemic levels in 2024[17]. - The number of 5G customers reached 1.747 million by the end of 2024, marking a 25% year-on-year growth[17]. - Local data service revenue rose by 6% to HKD 13.552 billion, while local telecom service revenue increased by 3% to HKD 17.350 billion[18]. Capital Expenditure and Debt - Capital expenditure for the year ending December 31, 2024, was HKD 2.341 billion, slightly up from HKD 2.324 billion in 2023, with approximately 95% attributed to Hong Kong Telecommunications[47]. - The group maintained a debt-to-asset ratio of 53% as of December 31, 2024, down from 55% in the previous year[45]. - As of December 31, 2024, the total debt of the group was HKD 52.393 billion, compared to HKD 52.329 billion on December 31, 2023[45]. Employee and Organizational Changes - The group employed over 14,600 staff globally as of December 31, 2024, a decrease from 15,000 employees in 2023[54]. Risk Management - The group has established risk management measures to manage market risks associated with foreign currency and interest rates, with most financing denominated in foreign currencies[49]. - The group has no assets pledged as collateral for bank loans as of December 31, 2024[51].

User Growth and Engagement - Viu achieved a milestone of 11.7 million paid users as of June 30, 2024, with over 110 new titles added during the period, driving subscriber growth[14] - ViuTV's digital membership increased by 6% to 3.2 million, driven by engaging content and unique productions[16] - Viu's paid user base reached 11.7 million, adding over 110 new titles[50] - Viu's paid user base reached 11.7 million, an 11% year-on-year increase, with significant growth in Indonesia, Thailand, and the Middle East[61] Financial Performance - For the six months ending June 30, 2024, the company reported a revenue growth of 5% and EBITDA growth of 1% due to increased contributions from its media business and cost efficiencies[19] - Revenue increased by 5% to HKD 17.698 billion[50] - Total revenue for the six months ended June 30, 2024, was HKD 17,698 million, an increase of 5.0% compared to HKD 16,850 million in 2023[110] - The media business generated external revenue of HKD 1,325 million for the six months ended June 30, 2024, up from HKD 1,146 million in the prior year, marking a growth of around 15.7%[110] - The net profit for the six months ended June 30, 2024, decreased to HKD 351 million, down 31.4% from HKD 512 million in 2023[89] Revenue Breakdown - Hong Kong telecommunications revenue (excluding mobile product sales) rose by 3% to HKD 15.683 billion[50] - OTT business revenue increased by 12% to HKD 1.089 billion[50] - Free TV and related business revenue rose by 23% to HKD 480 million[50] - Mobile communication service revenue grew by 5% to HKD 3,990 million, driven by increased roaming revenue and a net increase in postpaid customers[55] - The external revenue from Hong Kong Telecommunications segment was HKD 16,000 million for the six months ended June 30, 2024, compared to HKD 15,335 million in the same period of 2023, reflecting an increase of approximately 4.3%[110] Cost and Expenses - The cost of sales for the same period rose to HKD 8,939 million, reflecting a 7.8% increase from HKD 8,292 million in 2023[89] - The group's operating costs rose by 5% to HKD 30.87 billion, primarily due to increased promotional costs for OTT services aimed at boosting market penetration and paid subscriptions[70] - The total sales cost, excluding the cost of goods sold, rose slightly from HKD 5,739 million in 2023 to HKD 5,776 million in 2024, an increase of 0.6%[113] EBITDA and Profitability - EBITDA increased by 1% to HKD 5.672 billion[50] - EBITDA for the six months ended June 30, 2024, rose by 3% to HKD 6.168 billion, with an EBITDA margin stable at 37%[58] - The EBITDA for Hong Kong Telecom was HKD 6,009 million, with an EBITDA margin of 37%[54] - The company experienced a 10% increase in operating profit, amounting to HKD 1,824 million[51] Dividends and Shareholder Returns - The board declared an interim dividend of HKD 0.0977 per ordinary share for the six months ending June 30, 2024, reflecting a cautious dividend policy aimed at strengthening financial stability[19] - The interim dividend declared for the six months ended June 30, 2024, is HKD 0.0977 per share, unchanged from the previous year[87] Debt and Financing - The total debt as of June 30, 2024, was HKD 563.84 billion, up from HKD 523.29 billion as of December 31, 2023, with a debt-to-asset ratio of 59%[79] - Interest income for the six months ended June 30, 2024, was HKD 68 million, while financing costs rose by 21% to HKD 13.90 billion, leading to a net financing cost increase of 24% to HKD 13.22 billion[73] - The financing costs increased to HKD 1,390 million for the six months ended June 30, 2024, from HKD 1,153 million in the same period of 2023, representing an increase of approximately 20.6%[111] Operational Strategy and Future Outlook - The company is focused on prudent expansion in the video streaming and local television sectors, leveraging the robust foundation of Hong Kong Telecom to drive profit growth[13] - The company plans to continue leveraging its integrated fiber and mobile networks to provide innovative service solutions amid a challenging business environment[54] - The company plans to continue investing in enhancing digital capabilities and expanding the 5G network, considering current market conditions[81] Management and Governance - 唐永博 appointed as Vice Chairman of PCCW in August 2023, bringing extensive telecommunications management experience[29] - Meng Shusen serves as a non-executive director and is currently the Chairman and CEO of China Unicom International, with a strong background in international business[31] - Wei Zhe has over 20 years of experience in investment and operations management, previously serving as CEO of Alibaba Group during its IPO in 2007[32] Share Incentive Plans - The company plans to continue its share incentive program to align the interests of participants with those of shareholders[177] - The share incentive plan includes vesting periods ranging from 1 to 4 years, promoting long-term commitment from participants[177] - The total number of shares awarded under the 2020 plan is 6,141,746 shares, with 3,895,874 shares that have vested[178]

Viu Platform Performance - Viu's monthly active users reached 62.4 million by the end of 2023[4] - Viu's subscription revenue grew by 32% and total revenue increased by 27% in 2023[6] - Viu's monthly active users reached 62.4 million, with overall revenue increasing by 27% year-over-year, driven by a 32% rise in subscription revenue and a 15% increase in advertising revenue[9] - Viu's paid subscription revenue grew by 32%, with 1.34 million paying subscribers, a 10% increase, and monthly active users (MAU) reached 6.24 million[20] - Viu's advertising revenue increased by 15% YoY, with monthly active users reaching 62.4 million as of December 31, 2023[113] - Viu's OTT business EBITDA surged by 233% to HKD 592 million, with margin increasing from 9% to 24%[113] - Viu's paying subscriber base grew by 10% to 13.4 million, with subscription revenue increasing by 32% year-on-year[112] 5G and Broadband Network Expansion - The company's 5G customer penetration rate in the postpaid customer base expanded to 41%[6] - The company's 10G broadband network now covers 2.4 million households, with a significant increase in 2500M service adoption[6] - The 5G customer base reached nearly 1.4 million by the end of 2023, accounting for 41% of postpaid customers and over half of csl and 1O1O customers[13] - The company's 2500M broadband service saw a significant increase in user numbers, with service plan fees rising by HKD 98, and the company is prepared to offer up to 10G high-speed services to 2.4 million households[13] - Hong Kong Telecom's 5G customer base grew to 1.4 million, a 32% increase, and FTTH (Fiber-to-the-Home) customers reached 1.01 million, a 4% increase[21] - Mobile communication service revenue grew by 5% to HKD 8.348 billion, driven by roaming recovery and strong 5G adoption, with 5G penetration reaching 41% of postpaid customers by the end of 2023[107] Revenue and Financial Performance - The company's revenue in mainland China grew significantly by 32%[6] - The company's outbound roaming revenue in the second half of 2023 recovered to 95% of pre-pandemic levels[6] - The company's OTT business EBITDA grew more than twofold[6] - The company's roaming revenue surged by 176% in 2023, with roaming user numbers nearly doubling, and December's roaming revenue exceeding pre-pandemic levels[12] - Hong Kong Telecom's total revenue reached HKD 31.37 billion, a 3% increase, with EBITDA of HKD 13.4 billion, also a 3% increase[21] - Total revenue increased by 1% to HKD 36.347 billion, with Hong Kong Telecom's revenue rising by 1% to HKD 34.330 billion and OTT business revenue growing by 22% to HKD 2.452 billion[97] - EBITDA increased by 4% to HKD 12.831 billion, with Hong Kong Telecom's EBITDA rising by 3% to HKD 13.400 billion and OTT business EBITDA surging by 233% to HKD 592 million[97] - The company's overall revenue for 2023 was HKD 36.347 billion, with EBITDA of HKD 12.831 billion[19] - The company's loss from continuing operations attributable to equity holders improved to HKD 471 million[97] - The final dividend per ordinary share is HKD 28.48 cents, bringing the full-year dividend to HKD 38.25 cents per ordinary share[97] - The board declared a final dividend of HKD 28.48 cents per share, bringing the full-year dividend to HKD 38.25 cents per share[100] - Adjusted funds flow for 2023 rose by 3% to HKD 5.798 billion, with a full-year distribution of HKD 0.7649 per stapled unit[110] Media and Entertainment Business - The company's MakeALive online and live events expanded to five Asian markets[6] - The company's ViuTV maintained advertising revenue despite a weakening TV advertising market[6] - The company's Viu platform serves 16 markets across Asia, the Middle East, and South Africa[4] - ViuTV's online platform registered members grew by 9% to over 3 million, supported by popular shows like "Legal and Love" and "Office Romance"[10] - The company's MakeALive service expanded to five Asian markets, showcasing its capability to host online and ticketed live events for its artists and other performers[11] - The company's media business saw OTT revenue of HKD 2.452 billion, a 22% increase, and free TV and related business revenue of HKD 952 million, a 5% increase[20] - Free TV and related business revenue increased by 5% to HKD 952 million, with EBITDA nearly doubling to HKD 190 million[99] - ViuTV achieved stable ratings and attracted sponsors from various industries with its diverse entertainment programs[99] - The company expanded into new entertainment formats such as movies, stage plays, and overseas events, contributing to stable growth in event and artist management businesses[99] - Free TV and related business revenue grew by 5% to HKD 952 million, with EBITDA increasing by 96% to HKD 190 million[114] - ViuTV's digital platform registered members grew by 9% YoY to over 3 million[115] - ViuTV's EBITDA for the year ended December 31, 2023, increased by 96% to HKD 190 million, with margin rising from 11% to 20%[116] Corporate Governance and Leadership - Mr. Tse, aged 86, serves as a non-executive director of PCCW and has extensive experience in the insurance industry across Asia and globally[27] - Mr. Tang, aged 49, was appointed as a non-executive director and vice chairman of PCCW in August 2023, and also holds senior positions in China United Network Communications Group[27] - Ms. Meng, aged 51, was appointed as a non-executive director of PCCW in December 2021 and serves as the chairman and president of China Unicom International[28] - Ms. Wang, aged 53, was appointed as a non-executive director of PCCW in December 2021 and serves as the general manager of the finance department at China United Network Communications Group[28] - Mr. Wei, aged 53, has been a non-executive director of PCCW since May 2012 and has over 20 years of experience in investment and operational management in China[28] - Vision Deal HK Acquisition Corp. is led by Mr. Wei as Executive Director and Chairman, who also chairs the Nomination Committee[30] - Mr. Wei serves as a Non-Executive Director for Polestar Automotive Holding UK PLC and JNBY Co., Ltd[30] - Mr. Wei was recognized as one of "China's Best CEOs" by FinanceAsia magazine in 2010[30] - Mr. Wei holds a degree in International Business Management from Shanghai International Studies University[30] - Mr. Wei has extensive experience in the banking sector, including roles at HSBC and PricewaterhouseCoopers[30] - Mr. Wei has served as an Independent Non-Executive Director for multiple companies, including 500.com Limited and BlueCity Holdings Limited[30] - Mr. Wei was appointed as an Independent Non-Executive Director for China Chain Store & Franchise Association[30] - Mr. Wei has held positions in various international banking roles, including in Saudi Arabia and the United States[30] - Mr. Wei has been involved in the establishment of the Zhi Li Education Fund in Hong Kong[31] - Mr. Wei has a background in corporate finance and investment banking, with experience at PricewaterhouseCoopers and HSBC[30] Risk Management and Compliance - The company's risk management and internal control systems, including ESG risks, are reviewed at least annually by the audit committee[67] - The company has established a robust risk management culture, ensuring operational units identify and manage risks with corresponding controls[68] - The company promotes a strong compliance and risk management culture across the organization, adhering to ethical standards through comprehensive policies and processes[69] - The company has established a comprehensive anti-bribery and corruption policy and procedure manual, ensuring integrity and reducing corruption risks[70] - The company maintains strict confidentiality and efficient handling of insider information, ensuring proper approval before disclosure[70] - The company has a three-line defense model for risk management, with clear responsibilities for risk identification, oversight, and independent assurance[74] - The company’s risk management framework includes regular reviews by the Risk Management, Monitoring, and Compliance Committee, reporting significant risks to the Board[75] - The Group Internal Audit Department adopts a risk-based audit approach, covering major risks across operations and reporting findings to senior management and the Audit Committee[76] - The company ensures asset protection and compliance with accounting standards through established policies and controls[72] - The company’s risk management process combines top-down and bottom-up approaches for comprehensive risk identification and mitigation[74] - The Group Risk Management and Compliance Department oversees the enterprise risk management framework and regularly reports to the Audit Committee[75] - The company’s internal audit function is independent of management, reporting directly to the Board and the Audit Committee[76] - The company’s senior management, with the assistance of risk management committees, designs and monitors the enterprise risk management and internal control systems[76] - The company has adopted the principles of ISO 31000:2018 for managing business and operational risks, integrating risk management into daily operations[78] - The company conducts annual certifications to ensure the effectiveness of its enterprise risk management and internal control systems[78] - In 2023, the company increased training sessions and risk workshops, unified risk reporting terminology, and enhanced communication with authorized directors regarding risk management[82] - The company's internal audit function focuses on IT security, data privacy, third-party management, and regulatory compliance[82] - The company's risk management framework is considered adequate and effective, with sufficient resources and staff qualifications[83] - External auditors also assess the adequacy and effectiveness of the company's risk management and internal controls as part of their statutory audit[83] - The company continuously improves its risk management capabilities, particularly in managing environmental, social, and governance (ESG) risks[84] - The company maintains a risk register to track and monitor risk mitigation actions across operational units[81] - The company's risk management process includes risk identification, analysis, evaluation, and the implementation of mitigation plans[80] - The company's risk management and compliance department regularly reports to the audit committee and other subcommittees on risk assessment progress[77] - The company has implemented measures to combat cyber threats, including subscribing to attack surface management and continuous automated red teaming solutions, as well as bounty hunting platforms for in-depth threat assessments[85] - The company ensures strict compliance with data privacy laws and IT security policies, conducting continuous reviews of endpoint security and network protection to maintain high information security standards[85] - The company is adopting an enhanced technology evaluation framework for AI to address potential vulnerabilities and ensure effective governance and supervision in meeting regulatory requirements and managing technology risks[86] - The company has launched various business projects to achieve sustainable growth and create long-term value for stakeholders, with ongoing risk management support to ensure timely and high-quality project delivery[86] - The company has established training, performance management, and recognition programs to retain and develop talent, supported by the implementation of a human resources system and succession planning to mitigate the impact of key personnel loss[87] - The company has adopted business continuity management policies and corporate incident response plans to ensure prompt handling of major incidents and maintain normal business operations[87] - The company leverages its strengths, such as product functionality, coverage, timely product launches, and market experience, to maintain competitiveness in a market increasingly driven by innovations like generative AI[89] - The company is expanding its diversified business portfolio into industries like fintech and health tech, while monitoring political and macroeconomic changes to mitigate potential financial and strategic risks[89] - The company is exploring strategic business opportunities through internal growth and potential mergers or strategic investments in the telecom and technology markets[89] Sustainability and Corporate Social Responsibility - The company has integrated environmental elements into sustainable business operations, including electric vehicle charging solutions through a joint venture with CLP Holdings[132] - The company has installed solar panel systems on four machine buildings and plans to install more to promote renewable energy[133] - The company has adopted paperless systems and sustainable materials in its operations, including PEFC-certified paper and eco-friendly materials in employee canteens[134] - The company has signed sustainability-linked loans totaling over USD 3.9 billion with financial institutions as of December 31, 2023[134] - The company has received multiple awards for its sustainability efforts, including being ranked in the top 67% of global telecommunications peers by MSCI ESG Ratings[135] - The company was awarded the "Best ESG Report Award - Mid Cap" and "ESG Best Performance Award - Mid Cap" at the BDO ESG Awards[136] - The company has established a comprehensive employee performance evaluation system and reward program to foster a performance-based culture[137] - The company has launched a membership rewards program called The Club, which helps attract customers and provides opportunities for personalized services[138] - The company received over 80 customer service awards in 2023 and over 22,000 customer praises[139] - The company maintains partnerships with over 5,000 global suppliers and has implemented responsible procurement practices[140] - The company has obtained ISO 9001:2015 certification for its quality management system since 2018[141] - The company provided over HKD 17 million in donations and materials to support the Hong Kong community[142] - The company has implemented a "Volunteer Recognition Program" to provide volunteer leave for employees participating in community services[143] - The company adheres to multiple laws and regulations, including the Telecommunications Ordinance and the Personal Data (Privacy) Ordinance[144] Shareholder and Dividend Information - The final dividend per ordinary share is HKD 28.48 cents, bringing the full-year dividend to HKD 38.25 cents per ordinary share[97] - The board declared a final dividend of HKD 28.48 cents per share, bringing the full-year dividend to HKD 38.25 cents per share[100] - Proposed final dividend of HKD 28.48 cents per ordinary share for the year ended December 31, 2023, subject to approval at the Annual General Meeting on May 30, 2024[127] - Interim dividend of HKD 9.77 cents per ordinary share paid in September 2023 for the six months ended June 30, 2023[127] - The company paid an interim dividend of HKD 9.77 cents per ordinary share in September 2023, totaling approximately HKD 756 million[151] - The board proposed a final dividend of HKD 28.48 cents per ordinary share for the year ended December 31, 2023, subject to shareholder approval[151] Legal and Regulatory Compliance - The company's compliance with the Competition Ordinance could result in a maximum fine of 10% of annual turnover in Hong Kong for up to three years for serious anti-competitive behavior[148] - Violations of the Telecommunications Ordinance could result in a maximum fine of HKD 1 million or a higher amount as determined by the court[145] - Violations of the Broadcasting Ordinance could result in a maximum fine of HKD 1 million, with the possibility of license revocation in severe cases[146] - Violations of the Trade Descriptions Ordinance could result in a maximum fine of HKD 500,000 and imprisonment for up to five years[147] - The company has appointed a Group Data Protection Officer to oversee all activities related to data privacy compliance[149] - The company will publish a separate 2023 Environmental, Social, and Governance report in accordance with the ESG Reporting Guide[150] Share and Option Plans - The total number of shares that can be issued under the 2014 Share Option Scheme is 728,229,465, representing approximately 9.41% of the issued shares as of the annual report date[175] - The company's 2014 share option plan has not granted any options since its adoption until December 31, 2023, with the number of authorized options remaining at 728,229,465 as of both January 1, 2023, and December 31, 2023[177] - The total number of shares available for issuance under the PCCW Subscription Plan is 71,254,636, representing approximately 0.92% of the issued shares as of the annual report date[179] - The PCCW Share Award Plans have been extended for 10 years, effective from November 15, 2022, and will expire on November 14, 2032[182] - Total unvested shares as of December 31, 2023, amounted to 6,391,875[184] - Total shares granted during the year were 4,554,458[184] - Total shares forfeited or lapsed during the year were 854,626[184] - Total shares vested during the year were 4,769,362[184] - The highest number of shares granted to a single individual (Xu Hanqing) was 1,123,822 on August 4, 2023[184] - The total number of shares granted to the top five highest-paid individuals was 442,326[184] - The total number of shares granted to service providers was 1,162,304[184] - The total number of shares granted to other recipients was 531,004[184] - The fair value of shares granted on August 4, 2023, was HKD 3.92 per share[184] - The fair value of shares granted on May 30, 2023, was HKD 4.02 per share[184] - Total unvested share awards as of December 31, 2023, amounted to 2,137,481 units[185] - Total share awards granted during the year were 1,473,141 units[185] - Total share awards forfeited or lapsed during the year were 349,055 units[185] - Total share awards vested during the year were 1,488,259 units[185] - The fair value of share awards granted in 2023 ranged from HKD 9.05 to HKD 10.18 per unit[185] - The highest number of share awards granted to a single participant in 2023 was 262,563 units[185] - The total number of share awards granted to service providers in 2023 was 224,336 units[185

Financial Performance - The company reported a significant increase in performance, with revenue growth exceeding 100% for the fiscal year ending December 31, 2023[1]. Communication and Transparency - The company maintains its commitment to transparency and accuracy in its financial reporting[1]. - The company emphasizes the importance of accurate communication in its financial disclosures to avoid misunderstandings[1]. - The company is focused on maintaining the integrity of its financial announcements across both English and Chinese versions[1]. Governance and Leadership - The board of directors includes key executives such as the chairman and the acting group managing director, ensuring strong leadership[1]. - The company has a diverse board with both executive and independent non-executive directors, enhancing governance[1]. - The legal affairs director and company secretary is responsible for ensuring compliance with regulatory requirements[1]. Stakeholder Engagement - The announcement was made on February 23, 2024, indicating timely updates to stakeholders[1]. - The announcement serves as a reminder of the company's commitment to its shareholders and the market[1]. - The announcement clarifies that the translation of "more than tripled" should be interpreted as "growth exceeding double" and "almost doubled" as "growth close to one" in Chinese[1].

Revenue Performance - Revenue increased by 1% to HKD 36.347 billion[4] - Total revenue for Hong Kong Telecommunications increased by 1% year-over-year to HKD 34,330 million in 2023[10] - Revenue from telecommunications services rose by 1% to HKD 24,170 million, with local telecommunications services growing by 2% to HKD 16,873 million[12] - OTT business revenue surged by 22% to HKD 2.452 billion, driven by a 32% increase in subscription revenue[5] - Free TV and related business revenue grew by 5% to HKD 0.952 billion[4] - Revenue from other businesses reached HKD 767 million, with an EBITDA cost of HKD 697 million for the year ending December 31, 2023[27] - The external revenue from the Hong Kong segment decreased slightly to HKD 28,477 million in 2023 from HKD 28,613 million in 2022, a decline of approximately 0.48%[86] - The revenue from mainland China and other regions increased to HKD 1,590 million in 2023, up from HKD 1,237 million in 2022, reflecting a growth of about 28.54%[86] Profitability and Loss - The company reported a loss attributable to equity holders of HKD 0.471 billion from continuing operations[7] - The company reported a net loss attributable to equity holders of HKD 471 million, a 30% improvement compared to the previous year[10] - The company reported a net loss attributable to equity holders of the company from continuing operations of HKD (471) million in 2023 compared to a loss of HKD (676) million in 2022[60] - The company’s financing costs increased significantly to HKD (2,661) million in 2023 from HKD (1,826) million in 2022, an increase of 46%[60] - The total comprehensive income for the year was HKD 1,472 million, down 36.3% from HKD 2,310 million in 2022[61] EBITDA and Margins - EBITDA rose by 4% to HKD 12.831 billion, with a margin increase to 35%[7] - EBITDA for OTT business increased over threefold to HKD 0.592 billion[4] - EBITDA for Hong Kong Telecommunications reached HKD 13,400 million, reflecting a 3% increase compared to the previous year[12] - Overall EBITDA for the year ending December 31, 2023, rose by 4% to HKD 128.31 billion, with a margin of 35%[33] - The overall EBITDA margin improved to 39% in the second half of 2023, up from 37% in the same period last year[12] Dividends - Final dividend declared at HKD 0.2848 per share, totaling HKD 0.3825 for the year[7] - The company proposed a final dividend of HKD 0.4444 per share, bringing the total annual dividend to HKD 0.7649 per share[17] - The board proposed a final dividend of HKD 0.2848 per ordinary share for the year ended December 31, 2023, consistent with the previous year's dividend[51] Operational Highlights - The number of paid users for Viu increased by 10% to 13.4 million[5] - The customer base for 5G services reached nearly 1.4 million, accounting for 41% of postpaid customers by the end of December 2023[13] - Local data revenue recorded a significant growth of 10%, with total contract value from enterprise customers exceeding HKD 4 billion by year-end[15] - ViuTV's digital platform registered over 3 million members, reflecting a 9% year-on-year growth[24] Costs and Expenses - The total cost of sales increased by 1% to HKD 18,116 million, reflecting ongoing operational expenses[10] - Operating costs decreased by 6% to HKD 5.4 billion, primarily due to a 12% reduction in Hong Kong Telecommunications' operating costs[30] - The total operating cost to revenue ratio improved from 16% to 15%[30] Debt and Financing - Total debt as of December 31, 2023, was HKD 523.29 billion, up from HKD 498.99 billion in the previous year[41] - The group has unutilized bank credit facilities totaling HKD 20.488 billion as of December 31, 2023[69] - The group anticipates that it can meet its debt obligations due within the next 12 months based on operational cash inflows and additional debt financing capabilities[69] Employee and Corporate Governance - The group employed over 15,000 employees across 25 countries and cities as of December 31, 2023, with approximately 65% based in Hong Kong[50] - The group has established performance bonus and incentive plans to encourage and reward employees based on overall group performance, EBITDA, and free cash flow targets[50] Financial Position - Non-current assets increased to HKD 80,352 million in 2023 from HKD 78,018 million in 2022, reflecting a growth of 2.98%[62] - Current liabilities decreased to HKD 20,768 million in 2023 from HKD 24,374 million in 2022, a reduction of 14.5%[63] - Total equity attributable to the company's equity holders decreased to HKD 2,481 million in 2023 from HKD 5,554 million in 2022, a decline of 55.4%[65] - The company’s cash and cash equivalents decreased to HKD 2,627 million in 2023 from HKD 3,009 million in 2022, a decrease of 12.7%[63] Strategic Initiatives - The company aims to explore various opportunities for sustainable growth amid changing economic conditions[8] - The company aims to continue providing quality content and expand distribution to other platforms and markets[25] - The group continues to invest in enhancing digital capabilities to support existing business and drive growth in new areas, while cautiously investing in the expansion of the 5G network[43]

Revenue Growth - Viu's OTT business revenue increased by 24% year-on-year to HKD 971 million in the first half of 2023[10] - Viu's revenue recorded a significant year-on-year growth of 30%, driven by a dual business model of AVOD and SVOD[10] - The interim report for 2023 indicates that the company achieved a revenue of HKD 7.5 billion, representing a year-on-year increase of 5%[26] - Revenue for the first half of 2023 was reported at HKD 12.5 billion, representing a 10% increase compared to the same period last year[35] - Total revenue for the six months ending June 30, 2023, was HKD 16,850 million, up from HKD 16,738 million in 2022, representing a growth of 0.67%[100] - The company has projected a revenue growth of 6% for the next fiscal year, aiming for HKD 8 billion in total revenue[26] - The company aims to improve operational efficiency, targeting a 5% reduction in costs through digital transformation initiatives[35] User Engagement - Monthly active users of Viu grew by 8% year-on-year to 65.5 million, while paid users increased by 21% to 11 million[10] - ViuTV's registered members increased by 14% year-on-year to over 3 million, enhancing digital platform engagement[12] - The average revenue per user (ARPU) is expected to grow as customers upgrade to higher bandwidth services, with FTTH network coverage reaching 98%[13] - Customer satisfaction ratings have improved by 12%, reflecting enhanced service quality and support[35] Strategic Partnerships and Investments - The strategic partnership with CANAL+ involves a total investment of USD 300 million, aimed at expanding Viu's global market presence[11] - The company is preparing for the potential launch of the "Digital Hong Kong Dollar" as part of a cross-industry alliance[7] - The company is considering strategic acquisitions to bolster its service portfolio, with a budget of up to HKD 2 billion allocated for potential deals[26] - The company is investing HKD 1 billion in technology research and development to enhance service offerings and improve customer experience[26] Telecommunications and Infrastructure - The 5G customer base grew to nearly 1.2 million by June 2023, supporting the demand for mobile data roaming services[5] - The launch of 5000M FTTH service addresses the increasing bandwidth needs of users[5] - Hong Kong Telecom completed the construction of a fiber optic cable connecting to Lamma Island, supporting online work and education[6] - The company has expanded its fiber network to remote areas, including Lamma Island, preparing to offer up to 10G home broadband services[15] Financial Performance - The company reported a loss attributable to equity holders of HKD 486 million for the period[55] - The company reported a significant increase in user data, with a 15% year-over-year growth in active subscribers, reaching 3.5 million users[35] - The company reported a net profit margin of 12%, maintaining a stable performance amidst market fluctuations[26] - The company reported a net loss of HKD 88 million for the six months ended June 30, 2023, compared to a profit of HKD 931 million for the same period in 2022[107] Cost Management - Operating costs, excluding depreciation and amortization, increased by 5% to HKD 2,927 million[59] - The total cost of sales for the six months ended June 30, 2023, was HKD 5,739 million, compared to HKD 5,360 million in 2022, an increase of 7.09%[125] - The financing costs increased significantly to HKD 1,153 million for the six months ended June 30, 2023, compared to HKD 721 million in 2022, an increase of 60.06%[123] Dividends and Shareholder Returns - The board has approved a dividend payout of HKD 0.50 per share, reflecting a commitment to returning value to shareholders[26] - The interim dividend declared for the six months ending June 30, 2023, is HKD 0.0977 per share, an increase from HKD 0.0956 in 2022[98] - The company declared dividends amounting to HKD 2,139 million for the previous year, reflecting a significant cash outflow[107] Market Expansion - The company is expanding its market presence in Southeast Asia, targeting a 20% market share in the region by 2025[35] - Market expansion plans include entering two new regions, targeting a 10% increase in market share by the end of the next fiscal year[26] Employee Engagement and Management - The company has established performance bonus and incentive plans to encourage and reward employees based on overall group performance and individual assessments[97] - The company has adopted two stock incentive plans aimed at rewarding qualified participants for their contributions and attracting suitable talent[178] Financial Instruments and Valuation - The fair value of non-listed securities increased from HKD 124 million to HKD 147 million, while the fair value of non-listed financial assets rose from HKD 1,670 million to HKD 2,785 million for the same period[158][159] - The company’s financial instruments are measured at amortized cost, with no significant differences from their fair values as of the reporting dates[161]

[Performance Highlights and Management Review](index=1&type=section&id=Performance%20Highlights%20and%20Management%20Review) [Performance Highlights](index=1&type=section&id=Performance%20Highlights) In H1 2023, the Group's overall EBITDA increased by 2% to HK$5.631 billion, primarily driven by strong performance from HKT and OTT businesses, despite an expanded loss attributable to equity holders 2023 H1 Key Performance Indicators | Indicator | H1 2023 | Year-on-Year Change | | :--- | :--- | :--- | | Consolidated EBITDA | HK$5.631 billion | +2% | | HKT EBITDA | HK$6.009 billion | +3% | | OTT Business EBITDA | HK$165 million | >800% (over nine times) | | Free TV and Related Business Revenue | HK$390 million | +1% | | Free TV and Related Business EBITDA | HK$83 million | +5% | | Loss Attributable to Equity Holders | HK$486 million | - | | Interim Dividend | HK$9.77 cents per share | - | - The company established a strategic partnership with CANAL+, which will invest a total of **US$300 million** to accelerate Viu's business development[3](index=3&type=chunk)[4](index=4&type=chunk) [Management Review](index=2&type=section&id=Management%20Review) Management notes solid operating performance in H1 2023 for media and telecom businesses amid Hong Kong's economic recovery, with strong growth in OTT and Free TV, and steady performance in HKT Group Overall Financial Performance (H1 2023) | Indicator | Amount (HKD) | Year-on-Year Change | | :--- | :--- | :--- | | Consolidated Revenue | HK$16.85 billion | +1% | | Consolidated EBITDA | HK$5.631 billion | +2% | | Loss Attributable to Equity Holders | HK$486 million | - | | Interim Dividend | HK$9.77 cents per share | - | - OTT business (Viu) performed exceptionally well, with revenue growing **24%** to **HK$971 million** and EBITDA reaching **HK$165 million**, over nine times that of the same period last year, primarily driven by growth in monthly active users (**+8%**) and paying users (**+21%**)[4](index=4&type=chunk) - HKT business total revenue increased by **2%**, or **3%** excluding mobile product sales, primarily benefiting from enterprise digital transformation projects, demand for fiber services, recovery in roaming revenue, and 5G service adoption[4](index=4&type=chunk) [Segmental Business Financial Review](index=3&type=section&id=Segmental%20Business%20Financial%20Review) [Overall Financial Overview](index=3&type=section&id=Overall%20Financial%20Overview) In H1 2023, the Group's consolidated revenue grew 1% to HK$16.85 billion and EBITDA increased 2% to HK$5.631 billion, driven by OTT and HKT, but a 60% surge in finance costs led to a 33% drop in profit before tax and an expanded loss attributable to equity holders Revenue and EBITDA by Business Segment (Six Months Ended June 30, 2023) | Business Segment | Revenue (HK$ Million) | Revenue Year-on-Year Change | EBITDA (HK$ Million) | EBITDA Year-on-Year Change | | :--- | :--- | :--- | :--- | :--- | | HKT | 16,400 | +2% | 6,009 | +3% | | OTT Business | 971 | +24% | 165 | >800% | | Free TV and Related Businesses | 390 | +1% | 83 | +5% | | Other Businesses | 369 | (8)% | (294) | (3)% | | **Consolidated** | **16,850** | **+1%** | **5,631** | **+2%** | - Finance costs significantly increased by **60%** year-on-year to **HK$1.153 billion**, which is one of the main reasons for the pressure on the Group's profitability and the recorded loss[7](index=7&type=chunk) [Hong Kong Telecommunications (HKT)](index=5&type=section&id=Hong%20Kong%20Telecommunications%20(HKT)) HKT achieved steady growth in H1 2023, with total revenue up 2% to HK$16.4 billion and EBITDA up 3% to HK$6.009 billion, primarily driven by mobile communication services and local data business HKT Key Financial Data (H1 2023) | Indicator | Amount (HK$ Million) | Year-on-Year Change | | :--- | :--- | :--- | | Total Revenue | 16,400 | +2% | | EBITDA | 6,009 | +3% | | Mobile Communication Service Revenue | 3,815 | +5% | | Adjusted Funds Flow | 2,429 | +2% | - Roaming business significantly recovered, with total roaming revenue in H1 2023 surging by **166%** year-on-year, and outbound roaming revenue in June recovering to **80%** of pre-pandemic levels[10](index=10&type=chunk) - The 5G service customer base continued to expand, reaching nearly **1.2 million** as of June 30, 2023, accounting for **35%** of total postpaid customers[10](index=10&type=chunk) [OTT Business](index=7&type=section&id=OTT%20Business) The OTT business performed exceptionally well in H1 2023, with revenue significantly increasing by 24% to HK$971 million and EBITDA soaring over 8 times to HK$165 million, driven by strong user growth in Viu video streaming service Viu Operating Indicators (As of June 30, 2023) | Indicator | Quantity | Year-on-Year Change | | :--- | :--- | :--- | | Monthly Active Users (MAU) | 65.5 million | +8% | | Paying Users | 11 million | +21% | - Viu Original content received widespread acclaim, for example, the Korean drama "Taxi Driver 2" topped Viu's market viewership for nine consecutive weeks, driving audience engagement[13](index=13&type=chunk) - The strategic partnership with CANAL+ will bring **US$300 million** in investment to Viu, aiming to accelerate its global market expansion and content creation capabilities[13](index=13&type=chunk) [Free TV and Related Businesses](index=8&type=section&id=Free%20TV%20and%20Related%20Businesses) Free TV and related businesses remained stable in H1 2023, with revenue slightly increasing by 1% to HK$390 million and EBITDA growing 5% to HK$83 million, driven by stable advertising and effective cost control Free TV and Related Businesses Financial Performance (H1 2023) | Indicator | Amount (HK$ Million) | Year-on-Year Change | | :--- | :--- | :--- | | Revenue | 390 | +1% | | EBITDA | 83 | +5% | - Business growth was driven by stable advertising revenue, as well as artist management and event revenue from the increased film, music, and endorsement opportunities for its artists[14](index=14&type=chunk) - ViuTV focused on enhancing digital engagement, with registered digital members increasing by **14%** year-on-year to over **3 million**[15](index=15&type=chunk) [Other Businesses and Elimination Items](index=9&type=section&id=Other%20Businesses%20and%20Elimination%20Items) Other businesses, primarily enterprise solutions and corporate support services, recorded HK$369 million in revenue and HK$294 million in EBITDA cost, while elimination items reflect inter-segment transactions - Other businesses recorded revenue of **HK$369 million** and EBITDA cost of **HK$294 million** in H1 2023[16](index=16&type=chunk) - Elimination items reflecting inter-group transactions amounted to **HK$1.28 billion**[17](index=17&type=chunk) [Consolidated Financial Analysis](index=9&type=section&id=Consolidated%20Financial%20Analysis) [Cost Analysis](index=9&type=section&id=Cost%20Analysis) In H1 2023, the Group's cost of sales increased by 2% to HK$8.292 billion, while operating costs before depreciation and amortization decreased by 5% to HK$2.927 billion due to HKT's cost control, though depreciation and amortization rose 3% to HK$3.807 billion from media content investments - HKT's operating cost savings of **4%** were primarily due to digitalization of business processes and optimization of sales channels, leading to a reduction in the Group's overall operating cost to revenue ratio from **18%** to **17%**[19](index=19&type=chunk) - Content-related amortization expenses increased from **HK$738 million** in the same period last year to **HK$1.019 billion**, primarily due to media businesses' investment in content libraries[19](index=19&type=chunk) [Profitability Analysis](index=10&type=section&id=Profitability%20Analysis) Despite a 2% increase in consolidated EBITDA to HK$5.631 billion, the Group's profitability faced significant pressure due to a 60% surge in finance costs, resulting in a loss attributable to equity holders of HK$486 million from continuing operations - Consolidated EBITDA increased by **2%** to **HK$5.631 billion**, with the margin improving from **32.9%** to **33.4%**, reflecting improved operating efficiency at HKT and better profitability in the OTT business[20](index=20&type=chunk) - Net finance costs increased by **57%** from **HK$678 million** in the same period last year to **HK$1.066 billion**, primarily due to rising HIBOR[21](index=21&type=chunk) - For the six months ended June 30, 2023, loss attributable to equity holders from continuing operations was **HK$486 million**[26](index=26&type=chunk) [Liquidity, Capital Resources, and Risk Management](index=11&type=section&id=Liquidity,%20Capital%20Resources,%20and%20Risk%20Management) [Liquidity and Capital Structure](index=11&type=section&id=Liquidity%20and%20Capital%20Structure) As of June 30, 2023, the Group maintained ample liquidity with HK$20.719 billion in unutilized bank credit facilities, despite total debt of HK$51.597 billion and a debt-to-asset ratio of 56% Capital Structure Overview (As of June 30, 2023) | Indicator | Amount (HKD) | | :--- | :--- | | Total Debt | HK$51.597 billion | | Cash and Short-term Deposits | HK$2.563 billion | | Unutilized Bank Credit Facilities | HK$20.719 billion | - Subsidiaries CAS Holding No. 1 Limited and Hong Kong Telecommunications (HKT) Limited both maintained investment-grade credit ratings[27](index=27&type=chunk) [Capital Expenditure](index=11&type=section&id=Capital%20Expenditure) In H1 2023, the Group's capital expenditure slightly decreased to HK$1.141 billion, with HKT accounting for approximately 99%, reflecting the completion of the large-scale 5G network rollout and a shift towards capacity and indoor coverage enhancements - The Group's capital expenditure was **HK$1.141 billion**, a decrease from **HK$1.199 billion** in the same period last year, with the capital expenditure to revenue ratio at **6.8%**[28](index=28&type=chunk) [Risk Management and Hedging](index=11&type=section&id=Risk%20Management%20and%20Hedging) The Group actively manages foreign currency and interest rate risks without speculative derivatives, benefiting from natural hedging for most transactions and utilizing forward and swap contracts for foreign currency financing - The Group's business is not significantly exposed to risks from foreign exchange fluctuations, primarily due to natural hedging[29](index=29&type=chunk) - The Group uses forward and swap contracts to manage exchange rate and interest rate risks arising from foreign currency financing[30](index=30&type=chunk) [Shareholder Returns and Corporate Governance](index=12&type=section&id=Shareholder%20Returns%20and%20Corporate%20Governance) [Interim Dividend](index=12&type=section&id=Interim%20Dividend) The Board declared an interim dividend of HK$9.77 cents per ordinary share for the six months ended June 30, 2023, to be paid on or about September 6, 2023 2023 Interim Dividend Details | Item | Content | | :--- | :--- | | Interim Dividend | HK$9.77 cents per ordinary share | | Record Date | August 22, 2023 | | Payment Date | On or about September 6, 2023 | [Human Resources](index=12&type=section&id=Human%20Resources) As of June 30, 2023, the Group employed over 16,200 employees globally across 25 countries and cities, with approximately 66% based in Hong Kong, supported by performance bonus and incentive schemes - As of June 30, 2023, the Group's total global employees exceeded **16,200**[32](index=32&type=chunk) [Corporate Governance and Compliance](index=13&type=section&id=Corporate%20Governance%20and%20Compliance) The Audit Committee reviewed the unaudited interim financial information, confirming the company's compliance with the Corporate Governance Code and no purchases, sales, or redemptions of its listed securities during the reporting period - For the six months ended June 30, 2023, the company consistently applied and complied with the principles and all applicable code provisions of the Corporate Governance Code[36](index=36&type=chunk) - During the period, neither the company nor any of its subsidiaries purchased, sold, or redeemed any of the company's listed securities[35](index=35&type=chunk) [Condensed Consolidated Interim Financial Statements](index=14&type=section&id=Condensed%20Consolidated%20Interim%20Financial%20Statements) [Consolidated Income Statement](index=14&type=section&id=Consolidated%20Income%20Statement) For the six months ended June 30, 2023, the Group recorded a 1% revenue increase to HK$16.85 billion, but rising finance costs led to a 33% decrease in profit before tax and a loss attributable to equity holders of HK$486 million Consolidated Income Statement Summary (Six Months Ended June 30, 2023) | Item (HK$ Million) | H1 2023 | H1 2022 (Restated) | | :--- | :--- | :--- | | Revenue | 16,850 | 16,738 | | Profit Before Tax | 874 | 1,299 | | Profit for the Period | 512 | 825 | | Loss Attributable to Equity Holders of the Company | (486) | (194) | | Basic Loss Per Share | (6.29) cents | (2.51) cents | [Consolidated Statement of Financial Position](index=16&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of June 30, 2023, the Group's total assets were HK$91.826 billion, total liabilities HK$81.045 billion, and total equity HK$10.781 billion, with current liabilities exceeding current assets by HK$4.786 billion Consolidated Statement of Financial Position Summary (As of June 30, 2023) | Item (HK$ Million) | June 30, 2023 | December 31, 2022 | | :--- | :--- | :--- | | Non-current Assets | 78,339 | 78,018 | | Current Assets | 13,487 | 17,046 | | **Total Assets** | **91,826** | **95,064** | | Current Liabilities | (18,273) | (24,374) | | Non-current Liabilities | (62,772) | (57,925) | | **Total Liabilities** | **(81,045)** | **(82,299)** | | **Total Equity** | **10,781** | **12,765** | | Equity Attributable to Equity Holders of the Company | 3,803 | 5,554 | [Notes to the Financial Statements](index=19&type=section&id=Notes%20to%20the%20Financial%20Statements) The notes provide detailed explanations of accounting policies, business segments, discontinued operations, dividends, and receivables, highlighting management's going concern assessment despite net current liabilities [Basis of Preparation and Going Concern](index=19&type=section&id=Basis%20of%20Preparation%20and%20Going%20Concern) The financial information is prepared in accordance with HKAS 34, with management affirming the going concern basis despite current liabilities exceeding current assets by HK$4.786 billion, supported by operating cash flows and unutilized credit facilities - As of June 30, 2023, the Group's current liabilities exceeded its current assets by **HK$4.786 billion**[46](index=46&type=chunk) - Management believes that based on the Group's operating cash flows, refinancing capabilities, and **HK$20.719 billion** in unutilized credit facilities, preparing the financial information on a going concern basis is appropriate[46](index=46&type=chunk) [Segment Information](index=22&type=section&id=Segment%20Information) The Group's operations are assessed by product, comprising HKT, Media Business (OTT and Free TV), and Other Businesses, with HKT contributing the majority of revenue and EBITDA, and Media Business showing the highest EBITDA growth in H1 2023 Revenue and EBITDA by Business Segment (H1 2023) | Business Segment (HK$ Million) | Total Revenue | EBITDA | | :--- | :--- | :--- | | HKT | 16,400 | 6,009 | | Media Business | 1,361 | 248 | | Other Businesses | 369 | (294) | | Elimination Items | (1,280) | (332) | | **Consolidated** | **16,850** | **5,631** | [Dividends](index=25&type=section&id=Dividends) The Board declared a 2023 interim dividend of HK$9.77 cents per share, totaling approximately HK$756 million, in addition to the HK$2.201 billion final dividend for 2022 paid during the reporting period Dividend Details (HK$ Million) | Item | Amount | | :--- | :--- | | Declared 2023 Interim Dividend | 756 | | Paid 2022 Final Dividend | 2,201 |