Financial Performance - For the six months ended September 30, 2024, the revenue was approximately HKD 8,800,000, a decrease of about 1.7% compared to HKD 9,000,000 for the same period in 2023[3] - The loss for the six months ended September 30, 2024, was approximately HKD 5,500,000, compared to a loss of HKD 6,200,000 in 2023[3] - The basic loss per share for the six months ended September 30, 2024, was approximately HKD 3.94, compared to HKD 5.46 in 2023[3] - The total comprehensive loss for the period was HKD 5,454,000, down from HKD 6,196,000 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 loss of HKD 5,895,000 in the same period of 2023, representing a decrease of approximately 7.1%[18][28] - Revenue from OTT services was approximately HKD 8,812,000 for the six months ended September 30, 2024, down 1.7% from HKD 8,967,000 in the same period of 2023[21][46] Cash Flow and Liquidity - Cash and cash equivalents decreased by HKD 12,247,000, resulting in a balance of HKD 1,619,000 as of September 30, 2024[12] - Operating cash flow for the six months ended September 30, 2024, was a net outflow of HKD 11,800,000, compared to an outflow of HKD 2,639,000 in 2023[12] - The company’s borrowings stood at HKD 31,941,000 as of September 30, 2024, with HKD 17,941,000 classified as current liabilities due within the next twelve months[40] - The company has implemented cost control measures to improve operational efficiency and enhance future cash flow[18] Dividends and Shareholder Information - The company did not recommend any interim dividend for the six months ended September 30, 2024, consistent with the previous year[3] - The company did not recommend any dividend payment for the six months ended September 30, 2024, consistent with the previous year[27] - The company has not issued any equity securities for cash during the six months ending September 30, 2024, and is seeking opportunities to attract more investors[50] - 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] Operational Highlights - 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 is facing increased competition from other OTT service providers, impacting subscription rates[46] - Outsourcing costs decreased from approximately HKD 8,500,000 in 2023 to about HKD 8,200,000, attributed to the decline in revenue[49] - Operating and administrative expenses reduced from approximately HKD 5,700,000 in 2023 to about HKD 4,700,000[49] - The company employed 17 staff members as of September 30, 2024, down from 18 in 2023, with total employee costs around HKD 3,200,000 compared to HKD 3,600,000 in 2023[55] Governance and Compliance - The company has established an audit committee responsible for reviewing internal accounting procedures and reporting to the board[79] - The company has adopted the corporate governance code as per GEM Listing Rules and has complied with its provisions during the reporting period[80] - The company has confirmed that all directors have adhered to the trading guidelines set forth in the GEM Listing Rules[81] - There are no significant contracts involving directors with a material interest related to the group's business as of September 30, 2024[77] - The company has no record of any other individuals or executives holding significant interests in the company's securities as of September 30, 2024[75] Investment Activities - The company has not completed any significant investments or acquisitions during the six months ending September 30, 2024[53] - The company completed a placement on October 24, 2023, raising net proceeds of approximately HKD 23,010,000, with a cautious approach to spending due to market uncertainties[56] Financial Instruments - The company has not utilized any financial instruments for hedging purposes due to minimal foreign exchange risk, as its operations are primarily in HKD[52]
HMVOD视频(08103) - 2025 - 中期财报