Financial Performance - The company reported a significant increase in revenue, achieving a total of HK$1.2 billion, representing a 15% year-over-year growth[5]. - The company has set a future revenue guidance of HK$1.5 billion for the next fiscal year, indicating a projected growth of 25%[5]. - The revenue for the year ended December 31, 2024, was approximately HK$2,235,129,000, representing a decrease of 9.4% compared to HK$2,467,957,000 for the year ended December 31, 2023[23]. - Operating costs decreased by 10.6% to approximately HK$2,480,430,000 for the year ended December 31, 2024, down from HK$2,773,698,000 in the previous year[23]. - The operating loss decreased to approximately HK$245,301,000 for the year ended December 31, 2024, a reduction of 19.8% from HK$305,741,000 in 2023[24]. - The loss attributable to owners of the Company decreased to approximately HK$252,605,000 for the year ended December 31, 2024, a decrease of 2.5% from HK$258,989,000 in 2023[25]. - Television broadcasting revenue was HK$878,438,000 for the year ended December 31, 2024, down from HK$917,570,000 in 2023[30]. - Internet media revenue remained stable at HK$777,270,000 for the year ended December 31, 2024, compared to HK$778,797,000 in 2023[30]. - Outdoor media revenue decreased significantly to HK$459,889,000 for the year ended December 31, 2024, from HK$598,055,000 in 2023[30]. Strategic Initiatives - New product launches, including a premium subscription service, are expected to contribute an additional HK$200 million in revenue[5]. - A strategic acquisition of a local media company was completed, enhancing content diversity and expected to generate HK$100 million in synergies[5]. - The company is expanding its market presence in Southeast Asia, targeting a 30% increase in regional audience by the end of 2025[5]. - Investment in new technology for content delivery is projected to reduce operational costs by 10% over the next two years[5]. - The board of directors has approved a share consolidation plan, effective February 20, 2024, to enhance share value[10]. Awards and Recognition - The company received multiple awards for excellence in media production, enhancing its brand reputation[5]. - Phoenix TV has been recognized among "Asia's 500 Most Influential Brands" and "China's 500 Most Valuable Brands," maintaining its position as one of the top four Asian television brands[38]. - Phoenix TV's program "Abandoned Life" won the gold award in the Social Justice Promotion Category at the 2024 New York International Festivals[38]. - The company has won multiple awards at the 2024 Promax Asia Awards and Asian Television Awards, reflecting its world-class production standards[38]. - Phoenix TV was honored with multiple awards at the 2024 New York Festivals TV & Film Awards, marking the 13th consecutive year of recognition for its program production quality[139]. - Phoenix TV won the gold award for Best Promo For a Streaming Service and the silver award for Best Public Service Announcement at the 2024 Promax Asia Award[170]. - Phoenix TV received the inaugural Belt and Road International Cooperation Award at the International Finance Forum for its participation in international cooperation projects[166]. - Phoenix TV received an Honourable Mention Excellence in ESG at the Hong Kong Corporate Governance and ESG Excellence Awards[173]. Audience Engagement - User engagement metrics showed a 20% increase in viewership across all platforms, with a notable rise in mobile app usage[5]. - Phoenix TV has a global audience exceeding 2 billion, with over 500 million television viewers and more than 200 million overseas new media audience[36]. - The Hong Kong Channel was officially launched on Channel 85, reaching 1.03 million residents across 100 communities in Hong Kong[36]. - Phoenix TV's internet media platform, IFENG News App, maintains industry leadership with a user base exceeding 55 million and high engagement rates, bolstered by major event coverage[46]. - "Phoenix Weekly" has a total user base exceeding 55 million, with over 20 million users on Douyin and WeChat Channels, enhancing its advertising bargaining power[49]. Corporate Social Responsibility - Environmental, social, and governance (ESG) initiatives are being prioritized, with a commitment to reduce carbon emissions by 15% by 2026[5]. - Phoenix TV has received the ESG Excellence Award for two consecutive years, demonstrating its commitment to corporate social responsibility[42]. - The company collaborated with China Resources Group to donate educational courseware to 1,007 schools in Hong Kong, showcasing its dedication to sustainable development[42]. - The "You Bring Charm to the World Award Ceremony" recognized outstanding Chinese individuals, celebrating their contributions across various fields[72]. - The award ceremony has evolved into an annual event showcasing the excellence of the Chinese community and fostering cultural exchanges[74]. Content Innovation - The company is committed to focusing on its main media business and innovative development, with a goal of building a leading Chinese-language media group[32]. - Phoenix TV's new programming includes a variety of self-produced cultural documentaries and financial programs, enhancing local content offerings[63]. - The launch of the documentary film "Hong Kong Nature Stories" and the Young Filmmakers Project reflects the company's commitment to content innovation and cultural promotion[56][57]. - The newly launched Phoenix Hong Kong Channel broadcasts in both Mandarin and Cantonese, featuring a 90-minute prime-time Cantonese news segment and various self-produced cultural documentaries[61][62]. - Phoenix TV's focus on international broadcasting and content innovation supports broader commercial expansion and enhances its core competitiveness[45][50]. International Expansion - The company organized the Global Development Forum for Enterprises in Jakarta, Indonesia, enhancing its international broadcasting platform[41]. - Phoenix TV successfully launched its international event brand, Phoenix Go Glocal, during the 19th ASEAN Marketing Summit in Jakarta, Indonesia, aimed at supporting the global development of Chinese and foreign enterprises[115]. - The strategic partnership with Hong Kong Generative AI Research and Development Center aims to create a high-quality multilingual dataset and enhance generative AI technology's understanding of Chinese culture[64]. - The collaboration with HKGAI significantly enhances the data scale of high-quality Chinese language materials, particularly in Cantonese and Traditional Chinese[65]. - Phoenix TV continues to deepen its integrated marketing linkage mechanism, providing diverse and customized media products to enhance operational efficiency[45][47]. Events and Forums - The 2024 Phoenix Financial Forum for The Greater Bay Area was held from September 2 to 4, focusing on critical economic issues and growth opportunities in the new economic landscape[84]. - The forum featured discussions on global economic trends and opportunities for growth, attended by key leaders and experts[85]. - The Greater Bay Area Film Concert 2024 was organized by Phoenix TV, showcasing cultural integration through film and music[92][93]. - During COP29, Phoenix TV shared its new practices in climate communication and promoted the "CarbonSpeak" project at the China Pavilion's Side Event[107][108]. - Mr. Xu Wei highlighted the role of Phoenix TV in building dialogues amid conflicts, emphasizing the importance of understanding and cooperation[110].
凤凰卫视(02008) - 2024 - 年度财报