Revenue Performance - Total revenue decreased by 20.0% from RMB 64,536,000 to RMB 51,635,000, primarily due to delays in project releases[3] - Revenue from the film, series, and non-series segment fell by 11.0% to RMB 31,839,000, while the artist and event management segment saw a 31.1% decline to RMB 19,796,000[3] - Total revenue for the year 2024 was RMB 51,635,000, a decrease of 20% compared to RMB 64,536,000 in 2023[17] - Revenue from film, television, and non-dramatic production was RMB 5,991,000, down 76.6% from RMB 24,508,000 in the previous year[17] - Revenue from film, television, and non-dramatic investment increased significantly to RMB 25,848,000, up 129% from RMB 11,276,000 in 2023[17] - Artist management service revenue decreased to RMB 19,381,000, down 22.5% from RMB 25,044,000 in 2023[17] - Revenue from external customers for the fiscal year ending December 31, 2024, was RMB 51,635,000, a decline of 20% from RMB 64,536,000 in the previous year[31] - Revenue from the film, series, and non-series segment decreased by 11.0% from RMB 35,784,000 to RMB 31,839,000 due to production delays and adjustments in video platform release schedules[55] - Revenue from artist and event management decreased by 31.1% from RMB 28,752,000 to RMB 19,796,000, primarily due to reduced live streaming income and fewer projects involving artists[56] Financial Losses - The company reported a loss attributable to owners of RMB 5,779,000, a 99.4% increase compared to the previous year's loss of RMB 2,898,000[3] - The group reported a total loss before tax of RMB 9,217,000 for 2024, compared to a loss of RMB 7,552,000 in 2023[22] - The total annual loss attributable to the company's owners for the fiscal year 2024 was RMB 5,779,000, compared to a loss of RMB 2,898,000 in 2023, marking an increase in losses of approximately 99%[34] - Annual loss increased from RMB 7,717,000 to RMB 11,048,000, with losses attributable to decreased overall revenue from film, series, and artist management segments[64] Asset and Liability Changes - As of December 31, 2024, total assets increased by 4.3% to RMB 512,559,000, while total liabilities surged by 72.0% to RMB 105,767,000[5] - Total assets for the group increased to RMB 512,559,000 in 2024, compared to RMB 491,534,000 in 2023[23] - Total liabilities rose to RMB 105,767,000 in 2024, up from RMB 61,484,000 in 2023[23] - Total equity attributable to owners decreased to RMB 430,508,000 in 2024 from RMB 449,214,000 in 2023[13] - Non-current assets as of December 31, 2024, totaled RMB 4,412,000, down from RMB 9,610,000 in the previous year, indicating a decrease of approximately 54%[31] - Trade receivables decreased to RMB 18,863,000 from RMB 31,410,000, a reduction of 40.2%[43] - Trade and other payables decreased to RMB 34,794,000 from RMB 39,353,000, a decline of 11.5%[44] - Contract liabilities surged by 790.9% from RMB 6,827,000 to RMB 60,819,000, mainly due to advance payments for series production and artist management[70] Comprehensive Expenses and Costs - The company experienced a significant increase in total comprehensive expenses, amounting to RMB 23,258,000 compared to RMB 7,982,000 in the previous year[10] - The company reported a total employee cost, including director remuneration, of RMB 21,289,000 for 2024, slightly down from RMB 21,837,000 in 2023, a decrease of about 2.5%[34] - Sales costs decreased by 13.3% from RMB 34,251,000 to RMB 29,693,000, attributed to lower allocation rates for film and series distribution costs[57] - Other income and losses decreased by 4.2% from RMB 14,376,000 to RMB 13,772,000, impacted by a one-time cost recovery in the previous year[58] - Selling and distribution expenses increased by 30.9% from RMB 1,456,000 to RMB 1,906,000 due to increased advertising and promotional activities related to artist and event management[59] Investment and Impairment - The fair value loss on equity instruments recognized in other comprehensive income was RMB 25,809,000, up from RMB 8,328,000 in the previous year[4] - For the fiscal year ending December 31, 2024, the impairment loss for film, series, and non-series investments was RMB 8,493,000, a decrease from RMB 9,140,000 in the previous year, representing a reduction of approximately 7.1%[25][27] - The accumulated impairment for film, series, and non-series investments increased to RMB 45,914,000 in 2024 from RMB 36,176,000 in 2023, representing an increase of approximately 27%[41] - Trade and other receivables impairment losses decreased significantly from RMB 5,518,000 to RMB 334,000, reflecting improved recoverability of long-term receivables[62] Dividends and Shareholder Information - The company did not recommend the payment of a final dividend for the year[4] - The company did not declare or propose any dividends for the fiscal years ending December 31, 2024, and 2023[36] - The board has decided not to recommend the payment of the final dividend for the year, aiming to maintain cash levels and ensure long-term financial stability[76] - The annual report will be sent to shareholders at an appropriate time and will be available on the company's website and the stock exchange's website[88] Operational Developments - The company is currently in post-production for a new series, "Law Enforcers," expected to premiere in the first half of 2025[2] - The production of the 25-episode series "The Enforcers" was completed in May 2024, with a planned release in the first half of 2025[50] - The company aims to leverage its production expertise and strategic partnerships to explore new markets, particularly in the Greater Bay Area and the global Chinese community[46] - The company is actively seeking opportunities for its artists in the Chinese mainland, reflecting the market's significant potential[52] Compliance and Governance - The company has complied with relevant laws and regulations without any significant violations during the year[80] - The audit committee reviewed the company's annual performance announcement and confirmed compliance with applicable standards and regulations[85] - There were no purchases, sales, or redemptions of the company's listed securities during the year[86] - The company has adopted the standard code for securities trading by directors and confirmed compliance by all directors during the year[87] Employee Information - The company had a total of 51 employees as of December 31, 2024, down from 58 employees the previous year[79]
邵氏兄弟控股(00953) - 2024 - 年度业绩