Revenue Performance - Revenue for the six months ended June 30, 2024, decreased by 57.6% to RMB 12,746,000 from RMB 30,052,000 in the same period last year[5]. - Revenue from the film, television, and non-drama segment dropped 79.0% to RMB 2,269,000 compared to RMB 10,787,000 in the previous period[2]. - Revenue from the artist and event management segment decreased by 45.6% to RMB 10,477,000 from RMB 19,265,000 in the prior period[2]. - Total revenue for the film, series, and non-drama segment was RMB 2,269,000 for the six months ended June 30, 2024, a decrease of 78.9% from RMB 10,787,000 in the same period of 2023[13]. - The total revenue for the artist and event management segment was RMB 10,477,000 for the six months ended June 30, 2024, down 45.4% from RMB 19,265,000 in the same period of 2023[13]. - The group recorded revenue of RMB 12,746,000 for the six months ended June 30, 2024, a decrease of 57.6% compared to RMB 30,052,000 for the same period in 2023[32]. Financial Losses - The company reported a loss attributable to owners of the company of RMB 110,000, a significant improvement from a loss of RMB 735,000 in the same period last year[2]. - The company experienced a net loss of RMB 3,254,000 for the six months ended June 30, 2024, compared to a loss of RMB 1,112,000 in the same period of 2023[6]. - The period loss increased from RMB 1,112,000 in the previous period to RMB 3,254,000 in the review period, while the loss attributable to the company's owners decreased by 85% to RMB 110,000[46]. Cash and Assets - As of June 30, 2024, cash and cash equivalents (net of bank borrowings) amounted to RMB 319,935,000, up from RMB 301,641,000 as of December 31, 2023[2]. - Total assets increased by 13.8% to RMB 559,421,000 from RMB 491,534,000 in the previous year[3]. - The company’s cash and cash equivalents increased to RMB 324,609,000 from RMB 306,198,000, indicating a growth of 6.8%[7]. - The equity attributable to owners of the company was RMB 456,889,000 as of June 30, 2024, compared to RMB 449,214,000 at the end of 2023, representing a 1.5% increase[8]. - The company's equity attributable to owners increased by 1.7% to RMB 456,889,000, with net asset value per share rising to RMB 32.18[55]. Liabilities - Total liabilities surged by 102.2% to RMB 124,294,000, compared to RMB 61,484,000 in the previous year[3]. - Current liabilities rose significantly to RMB 61,390,000 from RMB 39,353,000, marking a 56.1% increase[7]. - The company’s total liabilities increased to RMB 94,218,000 as of June 30, 2024, compared to RMB 58,474,000 at the end of 2023, reflecting a rise of 60.9%[7]. - Trade and other payables increased from RMB 39,353,000 to RMB 61,390,000, mainly due to production costs for the series "Law Enforcers" and advance payments for artist activities[50]. - Contract liabilities surged from RMB 6,827,000 to RMB 52,274,000, primarily due to advance payments for series production and artist management[51]. Expenses and Costs - The company incurred a total employee cost of RMB 10,327,000 for the six months ended June 30, 2024, a decrease of 7.2% from RMB 11,126,000 in the same period of 2023[18]. - Sales costs decreased by 64.0% from RMB 8,114,000 to RMB 2,921,000, due to a lower allocation of production costs for films, series, and non-series[40]. - Other income, gains, and losses decreased by 3.4% from RMB 7,370,000 to RMB 7,119,000, primarily due to one-time cost reversals and insurance claims from previous film productions[41]. - Selling and distribution expenses increased by 52.8% from RMB 861,000 to RMB 1,316,000, attributed to increased advertising and promotional activities in the artist and event management business[42]. - Administrative expenses decreased by 15.6% from RMB 18,028,000 to RMB 15,217,000, due to reduced employee costs and lower legal and professional fees[43]. Investments and Future Plans - The group plans to invest no less than HKD 5 billion (USD 640 million) in film production, series production, performances, and youth talent cultivation over the next five years under the "Hong Kong Arts Revitalization Plan"[31]. - The group plans to enhance collaboration between film and series production and artist management to maximize resource potential[36]. - The group is set to produce a new 25-episode law enforcement series, "Law Enforcers," expected to premiere on the Youku platform in 2025[36]. Dividends and Governance - The board of directors does not recommend the payment of an interim dividend for the review period[2]. - The company did not declare or recommend any dividends for the six months ended June 30, 2024[20]. - The company has adhered to the corporate governance rules as per the listing rules during the review period[61]. - The summarized consolidated financial information for the review period has been reviewed by external auditors[62].
邵氏兄弟控股(00953) - 2024 - 中期业绩