英皇文化产业(00491) - 2022 - 年度财报

Financial Performance - For the year ended June 30, 2022, the Group's total revenue increased by 59.0% to HK$306.7 million, compared to HK$192.9 million in 2021[12] - Gross profit for the year was HK$179.0 million, reflecting a 61.0$111.2 million in the previous year[9] - The net loss for the year was HK$218.4 million, a slight improvement from the loss of HK$228.1 million in 2021[12] - Loss per share decreased to HK$0.06 from HK$0.07 in the previous year[9] - Revenue from the cinema operation segment increased by 59.0% to HK$306.7 million, with box office takings amounting to HK$270.1 million, accounting for 88.1% of the cinema operation revenue[18] - The cinema operation segment's revenue from box office takings increased from HK$164.1 million in 2021 to HK$270.1 million in 2022[18] - The Group's revenue from cinema operations in Hong Kong increased significantly from HK$59.5 million in 2021 to HK$162.8 million in 2022[18] - The Group's cash and cash equivalents amounted to HK$117.4 million, an increase of 106.5$56.9 million in 2021[33] - Total borrowings as of June 30, 2022, were HK$542.7 million, up 63.0$333.0 million in 2021, with a gearing ratio of 30.0% compared to 19.3% in the previous year[34] Market Conditions - The resurgence of Covid-19 in mainland China and Hong Kong during the second half of the year disrupted cinema operations[12] - The easing of social distancing measures in the first half of the year led to a temporary revival in public entertainment and leisure activities[13] - The continued expansion of China's middle-income group contributed to an increase in cinema patrons[13] - China maintained its position as the world's largest movie market for the second consecutive year, surpassing the United States in annual box office revenue[13] - The popularity of China-produced movies increased domestically, becoming a major contributor to box office revenue[13] Expansion and Development - The Group completed the acquisition of a cinema operation company for an aggregate consideration of HK$4.0, expanding its presence in the market[20] - As of June 30, 2022, the Group operated a total of 24 cinemas, including 17 Emperor Cinemas and 7 Emperor UA Cinemas, offering approximately 25,700 seats[21] - A new Emperor Cinemas was opened in Times Square, Hong Kong, featuring advanced technologies and premium services, including wireless charging mobile phone mounts[24] - The first MCL Cinemas Plus+ opened in July 2022 in Plaza Hollywood, Diamond Hill, which is the largest capacity cinema in East Kowloon[30] - The Group plans to open its first Emperor Cinemas Plus+ in 2023, continuing its expansion strategy[30] - The Group has opened its first Emperor Cinemas in Macau in November 2021, featuring Macau's first IMAX® theatre and a VIP House[26] Employee and Management - As of June 30, 2022, the Group's number of employees increased to 745 from 436 in 2021, with total staff costs amounting to HK$85.3 million, up from HK$58.9 million in 2021[43] - The Company has adopted a share option scheme to provide incentives or rewards to the staff, enhancing employee retention and motivation[43] - The Executive Director, Vanessa Fan, has over 33 years of corporate management experience, focusing on strategic planning and business growth within the Group[45] - The Executive Director, Alexander Yeung, is actively integrating digital technologies with premium services to target high-end markets in the cultural industry[46] - The management emphasizes competitive remuneration based on individual responsibilities, competence, and market pay levels, ensuring alignment with industry standards[43] Corporate Governance - The Company fully complied with all code provisions of the Corporate Governance Code during the year[133] - The Board is committed to maintaining high standards of corporate governance to ensure accountability, responsibility, and transparency towards shareholders and stakeholders[132] - The Company has arranged appropriate insurance cover for legal actions against the Directors[147] - The Company emphasizes good corporate governance practices among its Directors[146] - The Audit Committee consists of three Independent Non-Executive Directors (INEDs) and is chaired by Mr. Ho Tat Kuen[163] Connected Transactions - The Group had continuing connected transactions under a Master Furniture Agreement for purchasing furniture products and consultancy services[94] - The Company reported a significant transaction involving the acquisition of the entire equity interest in Tale Success Limited, valued at$5 million[114] - The auditor issued an unqualified letter regarding the Group's non-exempt continuing connected transactions[121] - The independent non-executive Directors confirmed that the connected transactions were conducted in the ordinary course of business and on normal commercial terms[122] Future Outlook - The Group anticipates a positive outlook for the film industry in China, driven by rising disposable income and improvements in living standards[31] - The Company has set a future revenue guidance of $180 million for the next fiscal year, indicating a projected growth of 20%[181] - Future outlook includes plans to expand into new markets, targeting a 20% increase in market share over the next fiscal year[200] - The management expressed confidence in achieving a revenue growth target of 18% for the upcoming fiscal year, supported by ongoing strategic initiatives[200]