Financial Performance - Total revenue for the six months ended December 31, 2024, decreased to HKD 243.1 million, down 9.0% from HKD 267.2 million in 2023[5] - The group's EBITDA increased significantly to HKD 50.5 million, compared to HKD 5.5 million in the previous year, due to effective cost control measures[7] - Net loss for the period was HKD 56.8 million, a substantial improvement from a net loss of HKD 143.2 million in 2023[7] - The company reported a net loss attributable to shareholders of HKD 56,823,000 for the six months ended December 31, 2024, compared to a loss of HKD 143,218,000 in the same period of 2023, representing a 60.3% improvement[26] - Total comprehensive loss attributable to shareholders was HKD 56,746,000 for the six months ended December 31, 2024, down from HKD 142,245,000 in 2023, indicating a significant reduction in losses[26] - The basic and diluted loss per share for the period was HKD 0.018, compared to HKD 0.045 in the previous year, reflecting a 60% decrease in loss per share[26] - The group reported a loss before tax of HKD 56,823,000 for the six months ended December 31, 2024, compared to a loss of HKD 143,218,000 for the same period in 2023, indicating an improvement in performance[35][48] - The cinema operations segment recorded a loss of HKD 26,904,000 for the six months ended December 31, 2024, compared to a loss of HKD 118,489,000 for the same period in 2023[35][37] Revenue Breakdown - Box office revenue was HKD 196.5 million, representing 80.8% of total revenue, a decline from 82.3% in 2023[7] - Hong Kong market revenue increased by 2.7% to HKD 141 million, while revenue from mainland China decreased to HKD 90.1 million, down 23.2% from HKD 117.3 million[7] - For the six months ended December 31, 2024, the group's revenue from cinema operations was HKD 243,147,000, a decrease of 9.0% compared to HKD 267,186,000 for the same period in 2023[40] - The cinema ticket revenue decreased to HKD 196,529,000 in the six months ended December 31, 2024, from HKD 219,964,000 in 2023, reflecting a decline in ticket sales[42] Cash and Liabilities - The group reported cash and cash equivalents of HKD 67.2 million as of December 31, 2024, down from HKD 84.6 million on June 30, 2024[12] - Total borrowings increased to HKD 1,024.7 million, up from HKD 977 million as of June 30, 2024[12] - As of December 31, 2024, the company's total current liabilities were HKD 362,374,000, a decrease from HKD 386,252,000 as of June 30, 2024[22] - The net liabilities of the company increased to HKD 1,347,122,000 as of December 31, 2024, compared to HKD 1,290,376,000 as of June 30, 2024[23] Financial Strategy and Outlook - The company has implemented various financial performance and resource improvement plans to enhance its financial performance and liquidity[28] - The company anticipates ongoing uncertainty regarding market supply and box office revenues due to external factors affecting recovery[27] - The company is focusing on improving its financial performance and liquidity to capitalize on future growth opportunities[28] - The group plans to leverage its brand to capture opportunities in the growing disposable income and living standards in mainland China[11] Government Support and Other Income - The group received government subsidies amounting to HKD 875,000 in the six months ended December 31, 2024, compared to HKD 443,000 in the same period in 2023, showing a significant increase[47] - The group reported a total of HKD 4,772,000 in other income for the six months ended December 31, 2024, compared to HKD 3,095,000 in 2023, indicating growth in other revenue streams[47] Financial Costs and Receivables - The company's financial costs, excluding lease liabilities, amounted to HKD 27,195,000 for the six months ended December 31, 2024, compared to HKD 22,179,000 in 2023, indicating an increase in financial expenses[35][48] - Financial costs for the six months ended December 31, 2024, amounted to HKD 53,508,000, an increase from HKD 50,255,000 in the same period last year[50] - Trade receivables increased to HKD 38,361,000 as of December 31, 2024, up from HKD 30,601,000 as of June 30, 2024[55] - Trade payables rose to HKD 69,623,000 as of December 31, 2024, compared to HKD 59,638,000 as of June 30, 2024[58] Corporate Governance - The company did not declare any interim dividend for the period, consistent with the previous year[16] - The company has not made any provisions for income tax in Hong Kong or other jurisdictions due to the absence of taxable profits[51] - The company has complied with all corporate governance codes as per the listing rules during the period[60]
英皇文化产业(00491) - 2025 - 中期业绩