Financial Performance - The company reported a consolidated income of $1.2 billion for the fiscal year, representing a 15% increase year-over-year [54]. - The Group recorded a consolidated revenue of HK$75,570,000 for the year ended 31st March 2023, a decrease from HK$78,218,000 in 2022, with a gross profit of HK$16,304,000 compared to HK$38,573,000 in the previous year [58]. - The loss attributable to owners of the Company was HK$48,915,000, up from HK$39,232,000 in 2022, primarily due to a significant impairment provision of approximately HK$17.5 million for films and program rights [58]. - The adjusted loss, excluding losses on revaluation of investment properties and financial assets, improved from HK$48,537,000 in 2022 to HK$30,663,000 in 2023 [58]. - Revenue from the Group's channel operations segment dropped from approximately HK$41.3 million to approximately HK$33.7 million, mainly due to the completion of an exclusive content supply contract with HBO Asia [58]. - The Group recognized an income of approximately HK$42.5 million from the settlement plan related to advances previously granted to a de-consolidated entity, JZZX [61]. - The Group's financial assets at fair value through profit or loss recorded a fair value loss of approximately HK$3.0 million, compared to gains of HK$0.2 million in 2022 [61]. - The investment properties portfolio contributed a loss on revaluation of approximately HK$15.3 million, down from gains of HK$9.2 million in the previous year [61]. - The Group's revenue from cinema operations decreased from approximately HK$23.8 million to HK$17.1 million due to intermittent suspensions caused by COVID-19 [133]. Strategic Initiatives - The company expects revenue growth of 10% for the next fiscal year, driven by new product launches and market expansion [54]. - Investment in research and development increased by 20%, focusing on innovative technologies and product enhancements [54]. - The company plans to expand its market presence in Southeast Asia, targeting a 30% increase in market share within two years [54]. - A strategic acquisition of a tech startup was completed, expected to enhance the company's product offerings and capabilities [54]. - The Group aims to actively seek investment opportunities that create synergies with existing and potential new businesses to maximize returns for shareholders [61]. - The Group aims to continue seeking cooperations with major new media platforms to further penetrate the vast media market [133]. - The Group's strategy includes self-producing and investing in content while leveraging its established distribution network [133]. Governance and Management - The audit committee reviewed the Group's unaudited interim results and annual audited results, confirming compliance with applicable accounting standards [20]. - The Company has established a remuneration committee to develop and review remuneration policies for directors and senior management [20]. - The Board of Directors consists of eight members, including three executive directors and five independent non-executive directors, ensuring a diverse background in management, finance, investment, legal, and media sectors [34]. - The Company has received annual confirmations of independence from all independent non-executive directors, complying with Listing Rules [34]. - The Company emphasizes continuous professional development for directors, ensuring their contributions remain informed and relevant to the Group's objectives [36]. - The Group's management is responsible for implementing policies and ensuring effective performance, as delegated by the Board [34]. - The Company has a specific term of appointment for non-executive directors, who are subject to retirement by rotation [34]. - The nomination committee consists of five members, including three independent non-executive directors and two executive directors, with Mr. Guo Yan Jun as the chairman [46]. Diversity and Inclusion - As of March 31, 2023, the ratio of men to women in the workforce was approximately 3:2, with a goal to achieve a more balanced gender ratio in the future [15]. - The Company is committed to monitoring and evaluating its diversity policy to ensure continued effectiveness [15]. Audit and Compliance - The consolidated financial statements provide a true and fair view of the Group's financial position as of March 31, 2023 [138]. - Key audit matters included impairment of film and program rights and impairment of property, plant, and equipment in cinema operations in Mainland China [138]. - The audit was conducted in accordance with Hong Kong Standards on Auditing, ensuring compliance with ethical responsibilities [138]. - The audit evidence obtained indicated no material uncertainty regarding the Group's ability to continue as a going concern [200]. Shareholder Information - The board has approved a dividend payout of $0.50 per share, maintaining a consistent return to shareholders [54]. - The Company has not redeemed any of its shares during the year, nor have any shares been purchased or sold by the Company or its subsidiaries [102]. - The Company confirmed that there is sufficient public float of at least 25% of its issued shares as of the report date [134]. - The total number of shares that can be issued upon exercise of options granted in any 12-month period must not exceed 1% of the shares in issue [92]. Operational Challenges - The Group's cinema operations were affected by COVID-19, leading to fluctuations in operational revenues throughout the year [133]. - Management performed an impairment assessment for film rights as of March 31, 2023, due to below-expected box office performance [186].
美亚娱乐资讯(00391) - 2023 - 年度财报