Financial Performance - Revenue for the year ended December 31, 2024, was approximately HKD 2,235,129,000, a decrease of 9.4% compared to HKD 2,467,957,000 for the year ended December 31, 2023[5] - Operating loss for the year ended December 31, 2024, decreased to approximately HKD 245,301,000, down 19.8% from HKD 305,741,000 for the year ended December 31, 2023[5] - Loss attributable to owners of the company decreased to approximately HKD 252,605,000, a reduction of 2.5% compared to HKD 258,989,000 for the year ended December 31, 2023[5] - The group's revenue for the year ended December 31, 2024, was approximately HKD 2,235,129,000, a decrease of 9.4% compared to HKD 2,467,957,000 for the year ended December 31, 2023[17] - Operating costs decreased by 10.6% to approximately HKD 2,480,430,000 for the year ended December 31, 2024, down from HKD 2,773,698,000 in the previous year[17] - The company's total revenue for the year ended December 31, 2024, was HKD 2,235,129, a decrease of 9.4% compared to HKD 2,467,957 in 2023[59] - Operating expenses for the same period were HKD 2,109,838, down from HKD 2,327,760 in 2023, reflecting a reduction of 9.4%[59] - The net loss for the year was HKD 295,752, an improvement from a net loss of HKD 334,694 in 2023, indicating a decrease in loss of approximately 11.6%[61] - Basic and diluted loss per share for the year was HKD 50.59, slightly improved from HKD 51.86 in the previous year[59] - Total revenue for the group decreased from HKD 2,467,957 thousand in 2023 to HKD 2,235,129 thousand in 2024, a decline of approximately 9.4%[72] Audience and Brand Development - The company has a global audience exceeding 2 billion, with over 500 million television viewers and more than 200 million overseas new media audiences[7] - The company launched a new service on the free television platform in Hong Kong, providing international news services to local and global Cantonese-speaking audiences[7] - The company is set to complete a comprehensive rebranding of its six satellite TV channels by January 1, 2025, enhancing its international communication capabilities[7] - The company has been recognized in the "Asia's 500 Most Valuable Brands" and "China's 500 Most Valuable Brands" lists, highlighting its brand value in the media and cultural sectors[9] - The company actively promotes international exchange platforms and has initiated several international events to enhance cultural influence and attract investment[10] - The company successfully launched multiple international content marketing cases, including projects related to the "Paris Olympics," enhancing its brand influence[14] Operational Changes and Investments - The company plans to continue integrating existing businesses while seeking new opportunities to enhance its operations[39] - The company increased its equity interest in Phoenix New Media to 55.04% as of December 31, 2024, from 54.68% the previous year due to the repurchase of 78,396 American Depositary Shares[29] - The company has no significant investments that constitute 5% or more of total assets as of December 31, 2024[38] - The company has not issued or exercised any share options under its share option scheme during the year[35] - The company has adopted its own corporate governance code, aligning with the majority of the corporate governance code provisions set out in the Hong Kong Stock Exchange listing rules[43] Financial Position and Liabilities - As of December 31, 2024, the company's cash and short-term bank deposits totaled approximately HKD 2,130,672,000, an increase from HKD 1,709,596,000 as of December 31, 2023[30] - The company's total outstanding borrowings amounted to approximately HKD 148,670,000, a decrease from HKD 210,759,000 as of December 31, 2023[30] - The capital debt ratio as of December 31, 2024, was 72.7%, down from 79.0% as of December 31, 2023[30] - The company employed 2,535 staff as of December 31, 2024, down from 2,704 staff the previous year, with total employee costs decreasing to approximately HKD 1,088,734,000 from HKD 1,203,854,000[37] - Total assets as of December 31, 2024, were HKD 5,832,803, a decrease from HKD 6,690,395 in 2023, representing a decline of 12.8%[63] - Total equity decreased from HKD 4,170,448 thousand in 2023 to HKD 3,756,241 thousand in 2024, a decline of approximately 10%[65] - Total liabilities decreased from HKD 2,519,947 thousand in 2023 to HKD 2,076,562 thousand in 2024, a reduction of about 17.6%[65] - The company reported a significant reduction in lease liabilities from HKD 578,616 thousand in 2023 to HKD 312,243 thousand in 2024, a decrease of about 46%[65] Dividend and Future Outlook - The company does not recommend declaring a final dividend for the year ending December 31, 2024, consistent with the previous year where no dividend was declared[26] - The company plans to release its 2024 annual report around April 24, 2025[56] - The audit committee has reviewed the financial results for the year and confirmed alignment with the draft financial statements[53] - The company continues to monitor changes in tax regulations in China that may affect its tax liabilities[81]
凤凰卫视(02008) - 2024 - 年度业绩