Financial Performance - For the fiscal year ending December 31, 2024, the company's revenue from continuing operations decreased to approximately HKD 584 million, down from HKD 598 million in the previous year, primarily due to a reduction in subscriber revenue[3]. - The operating loss for the fiscal year ending December 31, 2024, was approximately HKD 410 million, a decrease of about HKD 18 million compared to the previous year's loss of HKD 428 million[3]. - The net loss from continuing operations for the fiscal year ending December 31, 2024, was approximately HKD 553 million, slightly increasing by about 1% from HKD 548 million in the previous year[3]. - The total operating expenses for continuing operations decreased by approximately HKD 32 million or 3% to approximately HKD 994 million, down from approximately HKD 1,026 million in 2023[38]. - The finance costs for continuing operations increased by approximately HKD 42 million or 50% to approximately HKD 126 million, compared to HKD 84 million in 2023[41]. - The group recorded a total comprehensive loss of HKD 553,338,000 for the year ending December 31, 2024, compared to a loss of HKD 589,274,000 in the previous year, indicating a reduction in losses by approximately 6.5%[81]. Revenue Segments - The media segment's revenue increased by approximately 4% to HKD 220 million for the fiscal year ending December 31, 2024, driven by an increase in advertising revenue[3]. - The telecommunications segment's revenue decreased by approximately HKD 22 million or 6% to HKD 364 million for the fiscal year ending December 31, 2024, mainly due to a decline in subscriber revenue[3]. - The group’s main businesses include media and telecommunications[46]. - The Telecommunications division reported segment revenue of HKD 364,449,000 for 2024, down from HKD 386,139,000 in 2023, indicating a decline of about 5.5%[113]. Assets and Liabilities - The company's total assets as of December 31, 2024, were HKD 882 million, down from HKD 945 million in the previous year[2]. - The total liabilities increased to HKD 2,764 million from HKD 2,274 million, indicating a significant rise in debt levels[2]. - The net asset liability ratio was reported at -102% for the fiscal year ending December 31, 2024, compared to -118% in the previous year[2]. - The group’s consolidated net liabilities increased to approximately HKD 1,882,000,000 as of December 31, 2024, compared to approximately HKD 1,329,000,000 as of December 31, 2023[52]. Operational Strategies - The company implemented several cost-saving measures, resulting in a 3% reduction in total operating expenses compared to the previous year[5]. - The company aims to innovate in content, distribution, and marketing strategies to adapt to the rapidly changing online media landscape and enhance advertising revenue[6]. - The group is actively developing unique brand programs on social media to meet advertisers' demands, enhancing its competitive edge in the market[8]. - The group plans to continue investing in properties, factories, and equipment to enhance profitability and shareholder returns[67]. Market Presence and Engagement - In the 2024 fiscal year, the group achieved a significant milestone by securing 53 sponsors for the comprehensive media coverage of the Hong Kong athletes during the Paris Olympics, marking a record for HOY TV in broadcasting sports events[7]. - The group’s social media performance during the Olympics was impressive, with HOY YouTube views exceeding 32 million and a subscriber growth of over 40% year-on-year[11]. - The group’s mobile application downloads increased by 45%, with active users reaching a peak of 780,000 in the most active month of 2024, and total views surpassing 100 million[12]. - The group’s three free television channels and mobile application now cover approximately 99% of Hong Kong's population, reflecting a strong digital media presence[10]. Future Outlook - The company plans to continue expanding its network coverage and upgrading to GPON services to enhance competitiveness in the broadband market[64]. - The company expects new demand in the advertising market due to the government's promotion of the tourism industry and economic integration in the Greater Bay Area[72]. - The company is exploring potential mergers and acquisitions to strengthen its market position and diversify its service offerings[85]. - Future outlook includes potential investments in new technologies and products to enhance revenue streams and market presence[81]. Corporate Governance - The company has adhered to good corporate governance principles and complied with all applicable rules as of December 31, 2024[144]. - The audit committee has been established in accordance with the Listing Rules, primarily consisting of independent non-executive directors[148]. - The financial statements have been reviewed by the audit committee, which has no disagreements regarding the results[149].
有线宽频(01097) - 2024 - 年度业绩