Financial Performance - Medialink reported a revenue of HKD 1.2 billion for the fiscal year 2019, representing a 15% increase compared to the previous year[51]. - The company achieved a net profit of HKD 200 million, which is a 10% increase year-over-year[51]. - The company reported a revenue of HK$475.5 million for the year ended March 31, 2019, representing a year-on-year increase of 51.5%[60]. - Profit attributable to shareholders increased by 12.4% year-on-year to HK$105.6 million[60]. - Adjusted profit attributable to the owner of the parent was HK$125.2 million, reflecting a 33.4% increase after excluding one-time listing expenses of approximately HK$19.7 million[60]. - Adjusted earnings per share were HK 6.3 cents, up 34.0% from HK 4.7 cents[60]. - For the year ended 31 March 2019, the Group recorded a net profit of HK$105.6 million, representing a growth of 12.5% compared to HK$93.8 million in 2018[89]. - Profit for the year increased by approximately HK$11.8 million or 12.6% from approximately HK$93.8 million for the year ended 31 March 2018 to approximately HK$105.6 million for the year ended 31 March 2019[121]. - The adjusted profit attributable to the owner of the parent for the year ended March 31, 2019, was HK$125.2 million, representing an increase of HK$31.3 million or 33.4% compared to HK$93.9 million for the year ended March 31, 2018[145]. Revenue Sources - Revenue from Media Content Distribution Business grew satisfactorily due to an increase in the number of active titles distributed, with the Group ranking first among Japanese animation distributors in the PRC, accounting for approximately 14.1% of the market[68]. - Revenue derived from Japanese animation distribution accounted for 81.3% of total revenue for the year ended 31 March 2019[80]. - Revenue from Media Content Distribution Business contributed approximately 89.3% of total revenue, increasing by 45.9% from approximately HK$291.1 million to approximately HK$424.6 million[107]. - Revenue from Brand Licensing Business increased by 123.7% from approximately HK$22.8 million to approximately HK$51.0 million, primarily due to contributions from the MAIL acquisition[108]. Market Expansion and Strategy - Medialink plans to expand its market presence in Southeast Asia, targeting a 20% market share by 2022[51]. - The company is investing HKD 50 million in new product development, focusing on digital content delivery technologies[51]. - The management highlighted a strategic shift towards subscription-based revenue models, aiming for 30% of total revenue by 2021[51]. - The Group aims to extend its reach in the PRC, the United States, and Hong Kong, while exploring new markets in Asia[73]. - The Group plans to increase its Japanese animation offerings by obtaining more titles and diversifying media content from licensors in Mainland China, Korea, and other Asian countries[99]. - The Group intends to expand into the distribution of inflight entertainment media content, leveraging existing rights and acquiring new inflight distribution rights[99]. - The Brand Licensing Business is expected to continue expanding, with plans to obtain licensing rights for international lifestyle, fashion, and character brands[102]. Corporate Governance - The Company has complied with the corporate governance code provisions since its listing date on May 21, 2019[153]. - The board of directors includes both executive and independent non-executive directors, ensuring compliance with the listing rules[161]. - The management is committed to maintaining good corporate governance practices to safeguard shareholder interests and enhance corporate value[152]. - The Company has not held any general meetings since its listing and will hold its first annual general meeting on September 19, 2019[182]. - The Audit Committee was established on April 12, 2019, and held 2 meetings on May 31 and June 27, 2019, for audit planning and internal control matters[190]. - The Board is responsible for reviewing the Company's corporate governance policies and practices, including compliance with legal and regulatory requirements[185]. - The Company ensures that all Directors have access to independent professional advice at the Company's expense when necessary[169]. Financial Health - The liquidity ratio, as indicated by the current ratio, improved to 2.0 from 1.8[60]. - Free cash flow per share increased to HK 6.2 cents, a rise of 34.8% from HK 4.6 cents[60]. - As of 31 March 2019, the group had cash and bank balances of HK$163.8 million, with no interest-bearing or external borrowings[130]. - The company did not have any interest-bearing or external borrowings, making the debt to equity ratio not applicable[60]. Operational Efficiency - Medialink's gross margin improved to 40%, up from 35% in the previous year, due to operational efficiencies[51]. - Gross profit was HK$228.2 million, with a stable gross profit margin of approximately 48.0%[60]. - Gross profit for the year was approximately HK$228.2 million, an increase of approximately HK$71.2 million or 45.4%, while gross profit margin decreased by approximately 2.0 percentage points to approximately 48.0%[110]. Challenges and Expenses - Cost of sales increased by approximately HK$90.4 million or 57.6% to approximately HK$247.3 million, in line with revenue growth[109]. - General and administrative expenses increased by approximately HK$37.7 million or 151.4% to approximately HK$62.6 million for the year ended 31 March 2019, primarily due to legal and professional fees and increased staff costs[117]. - Other income and gains decreased by approximately HK$12.0 million or 68.6% to approximately HK$5.5 million, mainly due to reduced management fee income and foreign exchange losses[115].
羚邦集团(02230) - 2019 - 年度财报