Financial Performance - The interim report covers the six-month period ending June 30, 2024[6]. - The Group's total revenue for the six months ended 30 June 2024 was approximately HK$1,042,746,000, representing a decrease of 8.0% compared to HK$1,133,077,000 for the same period in 2023[9]. - The operating loss for the Group decreased to approximately HK$181,804,000, a reduction of 33.6% from HK$273,959,000 in the previous year[9]. - The loss attributable to owners of the Company increased to approximately HK$184,457,000, which is an increase of 42.8% from HK$129,158,000 in the previous year[9]. - Basic and diluted loss per share for the period was HK$36.94, compared to HK$25.86 in the same period last year[32]. - The Group reported a loss for the period amounting to HK$211,458, which includes a loss of HK$184,457 attributable to owners of the Company[93]. - Total comprehensive expense for the period amounted to HK$307,728, significantly higher than HK$83,589 in the previous year[87]. Revenue Breakdown - Television broadcasting revenue for the six months ended 30 June 2024 was HK$382,584,000, down from HK$409,250,000 in 2023[12]. - Internet media revenue decreased to HK$353,308,000 from HK$373,400,000 in the same period last year[12]. - Outdoor media revenue declined to HK$245,565,000 from HK$265,923,000 in the previous year[12]. - The revenue of the internet media business decreased by 5.4% to approximately HK$353,308,000 for the six months ended 30 June 2024, compared to HK$373,400,000 for the same period in 2023[33]. - The revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel increased by 6.8% to approximately HK$271,049,000, accounting for 26.0% of the total revenue[32]. Cost Management - The Group implemented effective cost control measures, particularly in staff costs, to mitigate the impact of revenue decline[9]. - Employee benefit expenses totaled HK$537,808,000, down from HK$602,301,000, reflecting a reduction of approximately 10.7%[135]. - The company incurred production costs of self-produced programmes totaling HK$67,523,000, a decrease from HK$80,273,000, reflecting cost management efforts[135]. Shareholder Information - The company underwent a share consolidation effective February 20, 2024, converting every ten shares of par value HK$0.10 into one consolidated share of par value HK$1.00[8]. - The Group does not recommend the payment of interim dividends for the Period, consistent with the previous year where the interim dividend was also Nil[33]. - The total number of issued shares was adjusted to 499,365,950 as a result of share consolidation effective on February 20, 2024[66]. Corporate Governance - The report outlines the corporate governance practices in accordance with the Corporate Governance Code[3]. - The Company has complied with the Corporate Governance Code throughout the period up to June 30, 2024, except for certain deviations[76]. - The Board consists of two Executive Directors, four Non-executive Directors, and four Independent Non-executive Directors as of the report date[84]. - The Company has adopted a code of conduct for securities transactions by Directors and confirmed compliance throughout the period[79]. Risk Management - The report emphasizes the importance of risk management and includes a risk management committee[6]. - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk[103]. - There have been no significant changes in the risk management department or policies since year-end[103]. Operational Strategies - The company aims to enhance shareholder value through strategic initiatives and market expansion[5]. - The company continues to enhance its core competitiveness in content and marketing strategies to adapt to market changes and improve operational efficiency[30]. - The company plans to continue consolidating existing businesses while exploring new business opportunities to enhance its operations[46]. Employee and Training Initiatives - The Group offers occupational training and has subsidy plans for staff training to enhance employee skills and knowledge[42]. - The Company maintains an employee-oriented policy with competitive salaries and benefits to attract and retain talent[42]. Financial Position - The Group's gearing ratio increased to 89% as at 30 June 2024, up from 79% as at 31 December 2023[39]. - The Group's bank deposit in PRC was approximately HK$213,800,000 as at 30 June 2024, down from HK$219,620,000 as at 31 December 2023, which was pledged to secure bank borrowing[40]. - As of June 30, 2024, total liabilities increased to HK$2,624,340 as of June 30, 2024, compared to HK$2,519,947 as of December 31, 2023, reflecting an increase of approximately 4.14%[92]. Investments and Acquisitions - There were no significant investments held by the Group as of June 30, 2024, with no individual investment contributing 5% or more of the Group's total assets[44]. - The company has not disclosed any new product developments or market expansion strategies during the reporting period[62]. - There were no significant mergers or acquisitions reported during the period[62]. Future Outlook - The company did not provide specific future performance guidance or outlook in the available documents[62]. - The Group is currently assessing the impact of new standards and amendments that are not yet effective for the financial year ending December 31, 2024[101].
凤凰卫视(02008) - 2024 - 中期财报