中国国家文化产业(00745) - 2024 - 年度业绩

Supplementary Announcement Overview This announcement supplements the 2024 annual results, providing additional details for the business review and audit committee sections Purpose and Scope of Announcement This announcement supplements the China National Culture Group Co., Ltd.'s 2024 annual results, providing additional information for the "Business Review" and "Audit Committee" sections - This announcement supplements the annual results announcement published on June 28, 2024[3] - The supplementary content primarily addresses the "Business Review" and "Audit Committee" sections[3] Supplementary Information on Business Review This section details the performance and strategic adjustments for the advertising and e-commerce businesses Advertising Business The Group's advertising business revenue declined due to China's economic slowdown, stricter regulations, reduced consumer confidence, and increased industry competition; the Group is shifting its client base to Hong Kong to expand market share - The Chinese advertising market faces multiple challenges, including slowing economic growth, stricter internet industry regulations, reduced consumer confidence, and intensified industry competition, leading to decreased corporate advertising spending and compressed profit margins[3] - The Group decided to shift its client base to Hong Kong, leveraging Hong Kong's relatively stable economic environment, stronger consumer confidence, and diversified media landscape[3] - For the year ended March 31, 2024, advertising segment revenue decreased[3] - The Group will continue to expand its client base in Hong Kong's advertising business, provide customized services, and seek participation in exhibitions or collaborations with renowned companies to enhance visibility[4] E-commerce Business The Group's e-commerce wholesale business, primarily selling used iPhones and components, saw revenue growth due to increased market demand driven by frequent new iPhone releases, consumer focus on cost-effectiveness, and high iPhone repair costs; the Group plans to optimize its product portfolio and enhance its position in the Hong Kong market - The Group operates a wholesale business of used iPhones and components through its e-commerce platform, responsible for procurement, pricing, testing, packaging, and delivery[5] - E-commerce business revenue increased, primarily due to growing demand for used iPhones and components[5] - Demand growth is attributed to frequent new iPhone releases leading to older models entering the secondary market, consumers prioritizing cost-effectiveness, and high iPhone repair costs increasing demand for alternative components[5] - The Group will continue to allocate resources to provide customized services and products to enhance its position in the Hong Kong market, and regularly review its product portfolio to meet market demand[6] Supplementary Information on Audit Committee The Audit Committee reviewed the annual results, accounting principles, and financial reporting matters for the year ended March 31, 2024 Audit Committee Work The Audit Committee reviewed the Group's annual results, accounting principles, and practices for the year ended March 31, 2024, and discussed audit and financial reporting matters related to the consolidated financial statements - The Audit Committee reviewed the Group's annual results for the year ended March 31, 2024[7] - The review included the accounting principles and practices adopted by the Group[7] - The Audit Committee discussed audit and financial reporting matters related to the preparation of the consolidated financial statements of the Company and its subsidiaries[7] Other Information This section confirms the unchanged status of the main annual results announcement and lists the board of directors' composition Conclusion of Announcement and Board Composition Except for the disclosures in this supplementary announcement, the remaining content of the annual results announcement remains unchanged; the announcement is signed by Executive Director Sun Wei and lists the board members - Except for the disclosures in this announcement, the remaining content of the annual results announcement remains unchanged[8] - The announcement is signed by Sun Wei, Executive Director of China National Culture Group Co., Ltd[9] - The Board of Directors comprises two Executive Directors (Ms. Sun Wei, Ms. Man Qiaozhen) and three Independent Non-executive Directors (Mr. Liao Guangsheng, Ms. Wang Miaojun, Ms. Wang Yujie)[10]