Financial Performance - For the six months ended June 30, 2021, the company reported unaudited revenue of RMB 000, compared to RMB 000 in the same period of 2020, reflecting a percentage change of % [19] - The Group recorded revenue of approximately RMB117.1 million for the six months ended June 30, 2021, representing a 9.9% increase compared to RMB106.5 million in the same period of 2020[20] - Excluding a one-off event from 2020, revenue growth for the six months ended June 30, 2021 was 159.0% compared to the corresponding period in 2020[21] - Profit for the period turned to a profit, with a reported profit of RMB5.4 million, compared to a loss of RMB31.2 million in the same period of 2020[20] - Revenue from online media advertising services amounted to RMB24.0 million, an increase of RMB19.0 million from RMB5.0 million in the corresponding period in 2020[35] - Online media advertising services accounted for 20.5% of total revenue in the first half of 2021, up 15.8 percentage points from 4.7% in the first half of 2020[35] - The Group's continuous market expansion contributed to the recovery from the Covid-19 pandemic, supporting overall revenue growth[21] - Gross profit for the Period was RMB16.2 million, with a gross profit margin of approximately 13.8%, down from 49.8% in the same period of 2020[56] - Net profit amounted to approximately RMB5.4 million for the Period, a decrease from RMB31.2 million in the first half of 2020, primarily due to a decrease in gross profit[66] Company Strategy and Operations - The management discussion and analysis section will provide insights into the company's performance and strategic direction, although specific details are not yet available [8] - The Group plans to enhance its digital marketing efforts in the second half of the year, including building an exclusive digital marketing team and providing comprehensive services[45] - The Group aims to assist traditional brands in transitioning to digital marketing to create new sales scenarios and broaden sales channels[36] - The Group successfully completed the business transformation from traditional marketing services to comprehensive marketing services during the period[35] Financial Position - The Group's net current assets as of 30 June 2021 were approximately RMB108.7 million, compared to RMB105.4 million as of 31 December 2020[73] - The current ratio was 2.2 times as of 30 June 2021, slightly up from 2.1 times as of 31 December 2020[73] Expenses and Dividends - Selling expenses for the Period amounted to approximately RMB1.7 million, an increase from RMB0.8 million in the same period of 2020[58] - Administrative expenses decreased to approximately RMB7.3 million from RMB9.4 million in the first half of 2020, mainly due to non-recurring professional service fees[63] - The company did not declare an interim dividend for the period, consistent with the previous year[84] Share Capital and Ownership - The company completed a share offer of 4,500,000 public offer shares and 40,500,000 placing shares at an offer price of HK$1.39 per share, resulting in net proceeds of approximately HK$30.6 million after expenses[84][85] - As of June 30, 2021, the company utilized HK$29.534 million of the net proceeds, leaving a remaining balance of HK$1.093 million[87] - As of June 30, 2021, Mr. Chow holds 87,750,000 shares, representing 48.75% of the company's total shares[151] - Mr. Lau holds 13,500,000 shares, representing a controlled corporation interest[151] - Ms. Cai holds 33,750,000 shares, also representing a controlled corporation interest[151] - Shining Icon holds 69,660,000 shares, representing 38.70% of total shares[167] - Focus Wonder owns 33,750,000 shares, accounting for 18.75% of total shares[167] - Sense One has 18,090,000 shares, which is 10.05% of total shares[167] - Master Connection possesses 13,500,000 shares, equating to 7.5% of total shares[167] - As of June 30, 2021, the total number of shares issued was 180,000,000[161] Audit and Compliance - The Audit Committee reviewed the unaudited consolidated results for the period and confirmed compliance with applicable accounting standards[188] - The Audit Committee consists of three independent non-executive directors[188] - The company established the Audit Committee on December 11, 2019, in compliance with GEM Listing Rules[188] - The chairman of the Audit Committee is Mr. Lee Siu Hang Foster[188] - The interim financial report for Icon Culture Global Company Limited as of June 30, 2021, complies with Hong Kong Accounting Standard 34[195] - The review conducted by KPMG did not identify any significant issues with the interim financial report[198] - The report includes the consolidated statement of financial position and the consolidated statement of profit or loss for the six-month period ending June 30, 2021[197] - The company is required to prepare interim financial reports in accordance with the GEM Listing Rules and relevant accounting standards[195] - The scope of the review was less extensive than a full audit, which limits the assurance provided[197] - The report is intended solely for the board of directors and not for any other purpose[196] - The financial report includes explanatory notes that provide additional context to the financial statements[195] - The review was conducted in accordance with Hong Kong Standard on Review Engagements 2410[197] - The company is responsible for the preparation and presentation of the interim financial report[195] - The report was issued on August 12, 2021, indicating the date of the review conclusion[199] Risks and Governance - The company faces several business risks, including the inability to retain advertising resources, competition in online advertising, and potential credit risks from delayed customer payments[122] - The company has complied with all applicable code provisions of the Corporate Governance Code during the reporting period[134] - The company did not redeem or purchase any of its listed securities during the reporting period[146] - There were no convertible securities, options, or similar rights issued or granted during the period[148] - The company has not faced any conflicts of interest with its directors or controlling shareholders during the reporting period[147] - The company has limited foreign currency risk as most transactions are conducted in the same currency as the functional currency of operations[95] - The company adopted a share option scheme on December 11, 2019, as an incentive for directors and eligible employees, but no options have been granted since the listing[120] - As of June 30, 2021, there were no significant events that occurred after this date[121] Employment and Resources - As of June 30, 2021, the company employed 47 staff members, an increase from 43 in December 2020, to support growth in online advertising services[111] - The company has entered into agreements with suppliers for additional exclusive out-of-home and online advertising resources, with HK$14.594 million allocated for this purpose[87][91] - The company has made prepayments and/or deposits on advertising resources amounting to HK$10.010 million to support online advertising needs[87][93] - The company has no current plans for material investments and capital assets beyond those disclosed in the prospectus dated December 30, 2019[97][104]
天泓文创(08500) - 2021 - 中期财报