Financial Performance - For the six months ending September 30, 2024, the revenue was approximately HKD 8,800,000, a decrease of about 1.7% compared to HKD 9,000,000 in the same period of 2023[3] - The loss for the same period was approximately HKD 5,500,000, an improvement from a loss of HKD 6,200,000 in 2023[3] - The basic loss per share for the six months was approximately HKD 0.0394, compared to HKD 0.0546 in the previous year[3] - The total comprehensive loss for the period attributable to owners of the company was HKD 5,100,000, an improvement from HKD 5,887,000 in the previous year[7] - The company reported a net loss of HKD 5,460,000 for the six months ended September 30, 2024, compared to a net loss of HKD 5,895,000 for the same period in 2023[18] Revenue Sources - Revenue from OTT services was HKD 8,812,000 for the six months ended September 30, 2024, a decrease of 1.73% from HKD 8,967,000 in 2023[21] - The decline in OTT service revenue was attributed to a drop in subscriptions due to the easing of COVID-19 restrictions and increased competition from other OTT service providers[46] Cash Flow and Liquidity - The cash outflow from operating activities for the six months was HKD 11,800,000, compared to HKD 2,639,000 in 2023[12] - The total cash and cash equivalents at the end of the period were HKD 1,619,000, down from HKD 13,860,000 at the beginning of the period[12] - The total liabilities exceeded total assets by HKD 60,304,000, raising significant doubts about the company's ability to continue as a going concern[18] Cost Management - The company has implemented cost control measures to improve operational efficiency and enhance future cash flow[18] - Outsourcing costs decreased from approximately HKD 8,500,000 in 2023 to about HKD 8,200,000, reflecting the reduction in revenue[49] - Operating and administrative expenses reduced from approximately HKD 5,700,000 in 2023 to about HKD 4,700,000[49] - The total employee cost for the review period was approximately HKD 3,200,000, down from HKD 3,600,000 in 2023, with 17 employees as of September 30, 2024[55] Dividends and Shareholder Information - The board of directors did not recommend any interim dividend for the six months ending September 30, 2024, consistent with the previous year[3] - The company did not recommend any dividend for the six months ended September 30, 2024, consistent with the previous year[27] - As of September 30, 2024, the company's issued share capital consists of 129,447,897 shares[74] - Major shareholder Lu Yujian holds 22,376,000 shares, representing 17.29% of the company's issued shares[74] - Major shareholder Zheng Zhiheng holds 8,628,500 shares, representing 6.67% of the company's issued shares[74] - Major shareholder Chen Cuiping holds 6,472,500 shares, representing 5.00% of the company's issued shares[74] Corporate Governance - The company has established an audit committee consisting of three independent non-executive directors[79] - The company has adopted the corporate governance code as per GEM Listing Rules Appendix 15 and has complied with it during the reporting period[80] - The company has confirmed that all directors have complied with the trading guidelines set forth in the GEM Listing Rules[81] - The company has no significant contracts related to its business where directors have a material interest as of September 30, 2024[77] - There are no competitive business interests held by directors or their associates as of September 30, 2024[78] Financing Activities - The company's financing costs for the six months ended September 30, 2024, were HKD 1,006,000, down from HKD 2,033,000 in 2023, representing a reduction of about 50.5%[24] - The company completed a placement on October 24, 2023, raising net proceeds of approximately HKD 23,010,000, with plans to prudently control expenses due to market uncertainties[56] Assets and Liabilities - Non-current assets, including property, plant, and equipment, totaled HKD 6,473,000 as of September 30, 2024[9] - Current liabilities amounted to HKD 36,621,000, compared to HKD 42,342,000 as of March 31, 2024[9] - The company's total borrowings as of September 30, 2024, were HKD 31,941,000, with HKD 17,941,000 classified as current liabilities due within the next twelve months[40] Strategic Focus - The company continues to focus on providing over-the-top (OTT) services, including the distribution and production of films, television programs, and music[14] - The company aims to leverage its OTT platform to provide a variety of media content, including movies and TV shows, to attract more customers in Hong Kong and Macau[47] - The company has not completed any significant investments or acquisitions during the six months ending September 30, 2024[53]
HMVOD视频(08103) - 2025 - 中期业绩