Core Viewpoint - TVB reaffirms expectations for continuous improvement in EBITDA and achieving positive net profit for the fiscal year ending December 2023 [1] Group 1: Financial Performance - For the quarter ending June 30, TVB reported a combined market share of 79% for Jade Channel, 24-hour Wireless News Channel, and other channels [1] - The company anticipates a year-on-year increase in advertising revenue for the full year of 2025, with the Greater Bay Area, including Guangdong Province and Macau, identified as the main growth driver [1] Group 2: OTT Streaming Business - The average monthly active users across all service tiers remain approximately 2 million [1] - There has been a growth of over 20% in both tracking and subscription numbers compared to the same quarter last year, alongside increased viewing times and engagement on social media [1]

Core Viewpoint - The company leads in Hong Kong's free-to-air television ratings, with its flagship channel Jade Channel and others achieving a combined market share of 79% [1] Advertising Revenue - Hong Kong's free-to-air channel advertising revenue has increased year-on-year, with significant contributions from the Greater Bay Area advertising services [1] - The company anticipates overall advertising revenue growth in 2025, driven primarily by Guangdong Province and Macau [1] Strategic Partnerships - The company has signed memorandums of understanding with Tencent, Huawei, and others for promotional activities in the Greater Bay Area, laying the groundwork for future revenue [1] OTT Streaming Business - The average monthly active users for the OTT streaming service remain around 2 million, with continuous growth in social media influence, view counts, and interaction levels [1] - Digital advertising revenue maintains double-digit percentage growth, attributed to the free service tier launched under the "myTV Super" TV 3.0 initiative [1] Financial Outlook - The company reaffirms its expectation for continuous improvement in EBITDA year-on-year and achieving positive net profit for the fiscal year 2025 [1]

Core Viewpoint - The company reported an increase in overall revenue from advertising clients for the three months ending June 30, 2025, compared to the same period last year, driven by the growth of advertising services outside Hong Kong in the Greater Bay Area [1] Group 1: Advertising Revenue - The company anticipates that advertising revenue for the full year of 2025 will grow compared to 2024, with Guangdong Province and Macau in the Greater Bay Area being the main growth drivers [1] - Digital advertising revenue across digital assets maintained double-digit percentage growth compared to the same period in 2024 [1] Group 2: OTT Streaming Business - The average monthly active users for all service tiers in the company's OTT streaming business remained around 2 million, with a growth of over 20% in tracking and subscription numbers compared to a year ago [1] Group 3: Financial Expectations - The company reaffirmed its expectation for continuous improvement in EBITDA for the year ending December 31, 2025, and aims to achieve positive net profit attributable to shareholders [1]

Group 1 - The company maintains a leading position in viewership ratings for free-to-air television channels in Hong Kong, with a combined market share of 79% for its flagship channel Jade Channel, 24-hour Wireless News Channel, and other channels [1]

Group 1 - The company maintains a leading position in Hong Kong's free-to-air television market, with a combined market share of 79% for its flagship channel Jade Channel, 24-hour Wireless News Channel, and other channels [1] - The company's advertising revenue in Hong Kong's free channels remains strong, with overall revenue from advertisers showing a growth trend compared to the same period last year, driven by new advertising services in the Greater Bay Area [1] - The company expects its advertising revenue for the full year of 2025 to increase compared to 2024, with the Greater Bay Area, including Guangdong Province and Macau, being the main growth driver [1] Group 2 - The company's OTT streaming business maintains an average of approximately 2 million monthly active users, with over 20% growth in tracking and subscription numbers compared to the previous year [2] - Digital advertising revenue across the company's digital assets, including the myTVSuper platform and social media accounts, shows strong double-digit percentage growth, benefiting from the launch of the myTVSuper "TV 3.0" plan [2] - The company is focused on producing several anticipated dramas, including "News Queen 2" and "Couple's Game," with multiple co-productions at different stages of production [2] Group 3 - The company reaffirms its expectation for continuous improvement in EBITDA and achieving positive net profit attributable to shareholders for the fiscal year ending December 31, 2025 [3]

Group 1 - The company maintains a leading position in Hong Kong's free-to-air television market, with a combined viewership share of 79% for its flagship channels [1] - Advertising revenue from free-to-air channels in Hong Kong is expected to grow in 2025 compared to 2024, driven by increased contributions from advertising services in the Greater Bay Area [1] - The company held a promotional event in Guangzhou, attracting significant interest from advertisers in the Greater Bay Area, which is expected to solidify revenue growth over the next 12 to 18 months [1] Group 2 - The company's OTT streaming services maintain an average of approximately 2 million monthly active users, with over 20% growth in tracking and subscription numbers compared to the previous year [2] - Digital advertising revenue across the company's digital assets has shown strong double-digit percentage growth, attributed to the launch of the myTV Super "TV 3.0" initiative [2] - The company is focused on producing several anticipated dramas, including "News Queen 2" and "Couple's Game," with multiple co-productions at various stages of production [2] Group 3 - The company reaffirms its expectation for continuous improvement in EBITDA and achieving positive net profit attributable to shareholders for the fiscal year ending December 31, 2025 [3]

Group 1 - The company maintains a leading position in Hong Kong's free-to-air television market, with a combined market share of 79% for its flagship channels [1] - The company's advertising revenue in Hong Kong is expected to grow in 2025, driven by increased contributions from advertising services in the Greater Bay Area [1] - A promotional event held in Guangzhou attracted significant interest from advertisers in the Greater Bay Area, laying a solid foundation for future revenue growth [1] Group 2 - The average monthly active users for the company's OTT streaming services remain around 2 million, with over 20% growth in tracking and subscription numbers compared to the previous year [2] - Digital advertising revenue across the company's digital assets has shown strong double-digit percentage growth, attributed to the launch of the myTVSuper "TV 3.0" plan [2] - The company is focused on producing several anticipated dramas, including "News Queen 2" and "Couple's Game," with multiple co-productions at different stages of production [2] Group 3 - The company reaffirms its expectation for continuous improvement in EBITDA and achieving positive net profit for the fiscal year ending December 31, 2025 [3]

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。 截至二零二五年六月三十日止三個月期間之 業務最新情況及未經審核營運資料 電視廣播有限公司（「本公司」或「無綫電視」，連同其附屬公司，統稱「本集 團」）董事局（「董事局」）欣然提供截至二零二五年六月三十日止三個月期間 （「本季度」）本集團核心香港電視相關業務及中國內地業務的業務最新情況及未經 審核營運資料如下。 1. 核心電視相關業務 （於香港註冊成立之有限公司） 股份代號：00511 於本季度內，我們於香港地面免費電視頻道的收視率繼續保持領先地位，我們的旗 艦頻道翡翠台、24 小時無綫新聞台及其他頻道的收視率合計達到 79%的市場份額： 截至下列日期止三個月期間平日黃金時段 （晚上七時至十一時）： | | 二零二五年 | 二零二五年 | 二零二四年 | | --- | --- | --- | --- | | | 六月三十日 | 三月三十一日 | 六月三十日 | | 無綫電視的免費電視頻道 | 19.8 ...

Financial Performance - The company reported a total revenue of HKD 3,258 million for 2024, a decrease of 2% compared to HKD 3,323 million in 2023[2]. - The electronic commerce business revenue dropped significantly by 74%, from HKD 486 million in 2023 to HKD 127 million in 2024[2]. - The total assets decreased by 13% from HKD 6,249 million in 2023 to HKD 5,446 million in 2024[2]. - The company experienced a 36% reduction in shareholder losses, from HKD 763 million in 2023 to HKD 491 million in 2024[2]. - The total expenses decreased by 15% from HKD 3,844 million in 2023 to HKD 3,279 million in 2024, reflecting cost management efforts[2]. - In 2024, the company achieved a positive EBITDA of HKD 295 million, marking a significant breakthrough after several years of challenging operations[62]. - The company recorded a net profit attributable to shareholders of HKD 53 million in the second half of 2024, excluding any non-recurring items, representing an important milestone in its recovery and transformation journey[62]. - The segment revenue for Hong Kong Television Broadcasting increased by 17% year-on-year to HKD 1.638 billion, driven by a 14% growth in advertising revenue from free-to-air channels despite a weak overall advertising market[73]. - The segment EBITDA turned from a loss of HKD 272 million in 2023 to a profit of HKD 110 million in 2024, benefiting from revenue growth and cost reduction efforts[73]. - The company achieved significant recognition at the 2024 Asia Content Awards, with "News Queen" winning multiple awards including Best Actress and Best Supporting Actress[28]. User Engagement and Digital Presence - MyTV SUPER has reached 10.8 million users, with 2 million monthly active users, showcasing strong user engagement[3]. - The company has over 64 million followers across various social media platforms, indicating a robust online presence[3]. - The company conducted over 1,280 live streaming sessions on Douyin and Taobao, attracting 264 million views, highlighting its effective e-commerce strategy[3]. - The average weekly reach of self-operated digital terrestrial television channels was 15 million viewers, with a prime time average rating of 21.02 points, capturing 79% of the total audience share[78]. - The new TVB Plus channel launched on channel 82 combines traditional TV programming with digital platforms, enhancing viewer engagement and experience[79]. - The myTV SUPER app has achieved a total of 420,000 downloads, indicating that viewers primarily watch content on large-screen televisions[134]. - The company continues to enhance its digital content integration, providing a more immersive viewing experience for audiences[113]. Content Production and Awards - The company received multiple awards for its productions, including "Best Actress" for the series "News Queen" at the 29th Asian Television Awards[24]. - The company is committed to developing new technologies and content to adapt to changing viewer preferences[22]. - The program "News Perspective: Let Me Breathe for Two Hours" won the Best Current Affairs Program award in the Asian specific market[29]. - "News Queen" also won the Global Best Series award and Sheren Tang was recognized as the Global Best Actress[36]. - The company received accolades for its innovative programming and creative industry contributions at the 15th Macau International Television Festival[39]. - The company continues to expand its market presence and enhance its content offerings through strategic awards recognition and program development[29]. - The company produced a special program to celebrate the 75th anniversary of the founding of the People's Republic of China, which attracted a large audience and enhanced national pride[128]. - The documentary series "The Endless Road" has completed its fourth season, showcasing significant developments along the Belt and Road Initiative[129]. Strategic Partnerships and Market Expansion - The company has entered into strategic partnerships with Youku and Tencent for co-production and distribution of programs[22]. - The company aims to expand its market presence through acquisitions and partnerships in the entertainment sector[21]. - The partnership with Youku expanded to a total of nine co-produced dramas, including the highly anticipated "News Queen 2," set to begin filming in Q2 2025[157]. - Tencent Video has also increased its order to eight co-produced dramas, reflecting the popularity of Hong Kong dramas in mainland China[158]. - The company is focusing on closer integration of e-commerce with its television channels to create sales conversion opportunities[149]. Challenges and Future Outlook - The company anticipates continued challenges in the retail environment in Hong Kong for 2024, despite cost-saving measures taken[200]. - The company has written off all goodwill and related intangible assets totaling HKD 94 million due to low recoverability in the current market environment[200]. - The cumulative expected credit loss provision for promissory notes increased to HKD 656 million from HKD 312 million in 2023 due to the assessment of ITT's repayment ability[198]. - The company is currently producing seven dramas at various stages, including "Justice Goddess" and "Couple's Game," to continue driving revenue growth from co-productions[167]. - The company plans to enhance digital advertising revenue and maintain a solid subscription revenue base by launching a new upgraded free service[146].

Revenue Performance - The total revenue for the year ended December 31, 2024, decreased by HKD 65 million or 2% to HKD 3,258 million[2]. - Core television-related business revenue increased by HKD 294 million or 10% to HKD 3,131 million, driven by a 17% growth in both Hong Kong and mainland China segments[2]. - Overall revenue for the year decreased by 2% or HKD 65 million to HKD 3.258 billion[9]. - Revenue from the Hong Kong television broadcasting and mainland China business segments grew by 17% or HKD 241 million and HKD 122 million, respectively[9]. - Revenue from Hong Kong decreased to HKD 2,111,431 in 2024, down 5.9% from HKD 2,243,881 in 2023[60]. - Revenue from Mainland China increased to HKD 855,348, up 16.4% from HKD 734,720 in 2023[60]. Profitability and Loss - The company achieved a positive EBITDA of HKD 295 million, an improvement of HKD 435 million from a loss of HKD 140 million in the previous year[2]. - The loss attributable to shareholders significantly decreased by HKD 272 million to HKD 491 million, with an adjusted loss of HKD 88 million excluding non-recurring items[2]. - The net loss for the year was HKD 541,296,000, compared to a net loss of HKD 838,169,000 in the previous year, indicating an improvement of approximately 35.4%[42]. - The company reported a pre-tax loss of HKD 536,234 in 2024, an improvement from a loss of HKD 818,468 in 2023[58]. - The company reported a loss before tax of HKD 491,049,000 for the year ending December 31, 2024, compared to a loss of HKD 762,796,000 in 2023, resulting in a basic and diluted loss per share of HKD 1.09[66]. Cost Management - Total operating costs decreased by HKD 565 million or 15% to HKD 3,279 million due to streamlined content production and reduced indirect costs[4]. - Sales costs decreased by HKD 369 million or 16% to HKD 1.930 billion, primarily due to the reduction in the scale of the e-commerce business segment[9]. - The depreciation expense for the year was HKD 221,834,000, down from HKD 293,525,000 in 2023, indicating cost-saving measures[62]. Digital and Advertising Growth - The average monthly active users for digital assets in Hong Kong grew by 81% to over 23 million[4]. - The advertising revenue from the Hong Kong television broadcasting segment increased by 14%, with market share rising from 75% to 83%[4]. - The digital advertising revenue from the myTV SUPER streaming service is expected to continue strong growth in 2025 following the launch of a new ad-supported streaming service[6]. - The OTT streaming segment's revenue slightly decreased by HKD 11 million or 3% to HKD 345 million, while digital advertising revenue grew by 30%[16]. E-commerce Challenges - The e-commerce business segment's revenue plummeted by 74% or HKD 3.59 billion to HKD 127 million due to structural challenges in the retail market[18]. - E-commerce revenue decreased significantly to HKD 126,754,000 in 2024, down 85% from the historical high of HKD 862,595,000 achieved in 2022[69]. Financial Position - Total equity as of December 31, 2024, was HKD 2.196 billion, down from HKD 2.739 billion in the previous year, with unrestricted cash and bank balances at HKD 700 million[34]. - Total assets decreased to HKD 5,445,548,000 from HKD 6,249,129,000, a reduction of approximately 12.9%[44]. - The capital debt ratio increased to 66.7% as of December 31, 2024, compared to 59.0% as of December 31, 2023[36]. - The company’s cash and cash equivalents stood at HKD 647,324,000, down from HKD 658,832,000, a decrease of approximately 1.9%[44]. Impairments and Provisions - The group recorded an impairment loss of HKD 85 million related to goodwill and HKD 9 million for intangible assets due to a challenging retail environment[26]. - The expected credit loss rate for promissory notes increased to 77.6% from 39.4% year-on-year, leading to an additional provision of HKD 345 million[24]. - The company recognized an impairment loss of HKD 85,131,000 on goodwill, reflecting the low recoverability of the acquired goodwill value due to challenging market conditions[69]. Future Outlook - The company anticipates a significant increase in EBITDA for the year 2025, projecting a return to positive net profit attributable to shareholders[6]. - The company has seven co-produced dramas in various stages of production, which are expected to drive growth in the mainland China segment in 2025[6]. - The company anticipates significant EBITDA growth in 2025, with a positive net profit attributable to shareholders expected for the full year[14]. Corporate Governance - The company has adopted the revised Code of Conduct for securities trading by directors and senior management, confirming compliance for the year 2024[99]. - The Audit Committee has reviewed the accounting principles and practices adopted by the group, discussing financial reporting matters for the year ending December 31, 2024[100]. - The auditors, PwC, confirmed that the preliminary performance announcement aligns with the audited financial statements for the year ending December 31, 2024[101].