Financial Performance - Revenue for the year ended March 31, 2023, was HKD 75,570,000, a decrease of 3.4% from HKD 78,218,000 in 2022[11]. - Gross profit for the year was HKD 16,304,000, down 57.7% from HKD 38,573,000 in the previous year[3]. - Operating loss increased to HKD 43,868,000 from HKD 35,599,000, representing a 23.4% increase in losses[4]. - Loss before tax was HKD 53,102,000, compared to HKD 42,571,000 in 2022, indicating a 24.5% increase in losses[6]. - Basic and diluted loss per share was HKD 0.83, compared to HKD 0.66 in the previous year, reflecting a 25.8% increase in loss per share[8]. - The company reported a net loss of HKD 49,156,000 for the year, compared to HKD 39,333,000 in 2022, marking a 25% increase in net losses[15]. - The group reported a net loss of HKD 49,156,000 for the year, compared to a loss of HKD 39,333,000 in the previous year[62]. - The company reported a loss attributable to shareholders of HKD 48,915,000 for 2023, compared to a loss of HKD 39,232,000 in 2022, indicating a worsening financial position[131]. - The group recorded a loss of HKD (76,959) million in the current year compared to a loss of HKD (28,297) million in the previous year[100]. Revenue Breakdown - Total revenue for the group decreased from HKD 78,218,000 in the previous year to HKD 75,570,000, representing a decline of approximately 3.4%[71]. - Revenue from channel operations decreased from HKD 41,264,000 to HKD 33,715,000, a decline of about 18.5%[71]. - Revenue from film screening and licensing increased significantly from HKD 12,322,000 to HKD 24,762,000, marking a growth of approximately 100%[71]. - Revenue from cinema operations decreased from HKD 23,781,000 to HKD 17,093,000, a decline of about 28.3%[71]. - Total external customer revenue decreased to HKD 75,570,000 in 2023 from HKD 78,218,000 in 2022, representing a decline of approximately 3.4%[79]. - Customer A contributed HKD 25,092,000 in 2023, an increase of 5.4% from HKD 23,806,000 in 2022[79]. - Revenue from film screenings and licensing increased from approximately HKD 12,300,000 to HKD 24,800,000, with two new films released during the year receiving multiple awards[156]. Assets and Liabilities - Total assets decreased to HKD 688,100,000 from HKD 757,196,000, a decline of 9.1%[31]. - Total equity decreased to HKD 339,706,000 from HKD 368,878,000, a reduction of 7.9%[19]. - Total liabilities decreased from HKD 388,318,000 to HKD 348,394,000, a reduction of approximately 10.3%[52]. - Current liabilities improved, with net current liabilities decreasing from HKD 82,115,000 to HKD 35,715,000, primarily due to the recovery of receivables from subsidiaries amounting to HKD 42,500,000[66]. - Non-current assets in Hong Kong decreased to HKD 428,683 million from HKD 473,445 million, indicating a decline in asset value[103]. - The total bank borrowings amounted to HKD 126,105,000 as of March 31, 2023, down from HKD 143,340,000 in the previous year[148]. - The group’s debt-to-equity ratio as of March 31, 2023, was 38.1%, calculated based on total bank and other borrowings of approximately HKD 126.1 million and shareholder equity of approximately HKD 331.2 million[161]. Expenses and Costs - Employee benefits expenses, including directors' remuneration, decreased to HKD 33,761,000 in 2023 from HKD 38,465,000 in 2022, a reduction of approximately 12.5%[4]. - Marketing and promotional expenses surged to HKD 6,750,000 in 2023, compared to HKD 756,000 in 2022, reflecting a substantial increase in marketing efforts[4]. - The company recorded a net finance cost of HKD 8,256,000 in 2023, down from HKD 9,897,000 in 2022, indicating improved financing efficiency[109]. - The impairment provision for film and program rights increased significantly from HKD 3,600,000 in 2022 to HKD 17,500,000 in 2023[131]. - The impairment loss on trade receivables remained constant at HKD 19,868,000 for both 2023 and 2022[92]. Strategic Initiatives - The company is focusing on channel operations and property investment as part of its strategic initiatives[96]. - The company plans to explore various opportunities to enhance contributions through its operational channels in the future[133]. - The entertainment sector is expected to gradually return to normal levels as the impact of COVID-19 subsides, with plans to explore investment opportunities that create synergies for existing and potential new businesses[160]. - The company plans to restart its concert and event operations in the next fiscal year, which is expected to generate revenue[159]. Government Support and Financial Assistance - The company received government subsidies related to COVID-19, which provided financial support to eligible employees during the pandemic[95]. - The group has received financial support from its controlling shareholder to ensure it can meet its liabilities as they fall due[68]. Other Information - The company did not recognize any tax provision for Hong Kong profits tax due to no taxable profits generated in 2023 and 2022[85]. - The company has not recommended any dividend distribution for the years ended March 31, 2023, and 2022[113]. - The group has commitments related to film and program rights amounting to approximately HKD 48.3 million as of March 31, 2023[179]. - The group has been expanding its presence in the new media market through partnerships with major platforms, including YouTube, with over 525,000 subscribers as of March 2023[173]. - The executive directors of the company include Mr. Li Guoxing, Mr. Li Dengxu, and Dr. Dong Ming[182]. - The independent non-executive directors consist of Dr. Lin Jiali, Mr. Guo Yanjun, Mr. Liang Desheng, Mr. Ma Fengguo, and Ms. Xu Lin[182].
美亚娱乐资讯(00391) - 2023 - 年度业绩