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邵氏兄弟控股(00953) - 2023 - 中期财报
SHAW BROTHERSSHAW BROTHERS(HK:00953)2023-09-28 08:44

Revenue Performance - For the six months ended June 30, 2023, the company reported revenue of RMB 30,052,000, a decrease of 20% compared to RMB 37,558,000 for the same period in 2022 due to delays in film and television projects[32]. - Revenue from the film, television, and non-drama segment was RMB 10,787,000, down 57% from RMB 25,060,000 in the previous year[33]. - Revenue from artist and event management increased by 54.1% to RMB 19,265,000 from RMB 12,498,000 in the previous year[33]. - The company's revenue decreased from RMB 37,558,000 to RMB 30,052,000, a decline of RMB 7,506,000 or 20% due to reduced contributions from films, series, and non-series segments[40]. - Revenue from the film, series, and non-series segment dropped by 57.0% from RMB 25,060,000 to RMB 10,787,000, primarily due to a decrease in the number of releases during the review period[41]. - Revenue for the six months ended June 30, 2023, was RMB 30,052,000, a decrease of 20% compared to RMB 37,558,000 for the same period in 2022[91]. - Revenue from film, television, and non-dramatic production was RMB 8,458,000, down from RMB 11,802,000, representing a decline of 28%[105]. - Revenue from artist management services increased to RMB 17,754,000, up 53% from RMB 11,574,000 in the previous year[105]. Financial Position - Total assets amounted to RMB 530,634,000, a slight decrease of 0.5% from RMB 533,123,000[27]. - Total liabilities decreased by 13.4% to RMB 82,382,000 from RMB 95,091,000[27]. - The company's equity increased by 2.3% to RMB 448,252,000 from RMB 438,032,000[27]. - The current ratio improved to 6.3 from 5.4, indicating better short-term financial health[27]. - Trade receivables decreased significantly from RMB 82,273,000 as of December 31, 2022, to RMB 29,724,000 as of June 30, 2023, primarily due to customer payments received during the review period[54]. - Trade and other payables increased from RMB 52,599,000 as of December 31, 2022, to RMB 53,587,000 as of June 30, 2023, indicating effective financial risk management policies in place[55]. - Contract liabilities rose from RMB 5,230,000 as of December 31, 2022, to RMB 7,045,000 as of June 30, 2023, mainly due to advance payments for artist and event management[56]. - Amounts payable to related parties decreased from RMB 23,614,000 as of December 31, 2022, to RMB 8,187,000 as of June 30, 2023, due to settlements made during the review period[57]. - As of June 30, 2023, the group held bank balances and cash of RMB 315,686,000, compared to RMB 322,828,000 as of December 31, 2022, reflecting a stable financial position[58]. - The equity attributable to owners of the company increased by 2.2% to RMB 462,725,000 as of June 30, 2023, from RMB 452,793,000 as of December 31, 2022[60]. - The debt ratio, calculated as interest-bearing debt to total assets, was 0.87% as of June 30, 2023, slightly up from 0.84% as of December 31, 2022[64]. - The total number of issued shares remained at 1,419,610,000 as of June 30, 2023[61]. - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023[67]. - The group had no pledged assets as of June 30, 2023, consistent with the previous reporting period[59]. Loss and Profitability - The company reported a loss attributable to owners of the company of RMB 735,000, an improvement of 36% compared to a loss of RMB 1,149,000 in the previous year[27]. - The loss per share improved to RMB 0.05 from RMB 0.08, a decrease of 37.5%[27]. - The company reported a net loss of RMB 1,112,000 for the review period, an improvement from a loss of RMB 2,657,000 in the previous period, with the loss attributable to increased impairment losses on investments and trade receivables[51]. - The segment profit for artist and event management surged by 390.2%, from RMB 1,102,000 to RMB 5,402,000, with a profit margin of 28.0%[43]. - The company reported a significant impairment loss of RMB 7,861,000 on film, series, and non-series investments for the six months ended June 30, 2023[116]. - The company incurred a loss of RMB 735,000 during the period, compared to a loss of RMB 1,149,000 in the same period last year[96]. - The company’s basic and diluted loss per share improved to RMB 0.05 from RMB 0.08 in the previous year[91]. - The total comprehensive income for the period was RMB 10,220,000, compared to RMB 14,052,000 in the same period last year, reflecting a decrease of 27.3%[93]. Investment Activities - Investment in films, series, and non-series increased from RMB 42,657,000 to RMB 81,554,000, primarily due to new co-productions during the review period[52]. - Production costs for ongoing films, series, and non-series rose from RMB 14,857,000 to RMB 17,928,000, mainly due to additional costs associated with the film "Infernal Affairs" during the review period[53]. - The company reported a significant increase in film and television investments, with RMB 81,554,000 in investments as of June 30, 2023, compared to RMB 42,657,000 at the end of 2022[95]. - The company invested approximately RMB 70,000 in property, plant, and equipment during the six months ended June 30, 2023, compared to RMB 57,000 for the same period in 2022[120]. - The company invested RMB 46,100,000 in joint production of new series as of June 30, 2023, compared to no investment in the same period last year[139]. Cash Flow and Financing - The net cash used in operating activities for the six months ended June 30, 2023, was RMB (20,339,000), compared to RMB (11,053,000) for the same period in 2022[99]. - The cash and cash equivalents decreased by RMB 17,915,000, from RMB 322,828,000 at the beginning of the period to RMB 315,686,000 at the end[99]. - The company’s investment activities generated a net cash inflow of RMB 3,581,000, compared to RMB 919,000 in the previous year[99]. - The company’s financing activities resulted in a net cash outflow of RMB 1,157,000, a decrease from a net inflow of RMB 3,400,000 in the same period last year[99]. - Financing costs increased to RMB 397,000 for the six months ended June 30, 2023, compared to RMB 298,000 for the same period in 2022[113]. - The bank borrowings amounted to RMB 4,610,000 as of June 30, 2023, slightly up from RMB 4,467,000 as of December 31, 2022[136]. Shareholder Information - Shine Investment, which holds 425,000,000 shares, is owned 85% by Shine Holdings, which is fully owned by CMC Shine Acquisition, and so on, indicating a complex ownership structure[75]. - The new share option plan approved on June 2, 2022, allows for a total of 141,961,000 shares to be issued, accounting for about 10% of the total issued shares as of the report date[78]. - No share options were granted, exercised, canceled, or lapsed during the review period ending June 30, 2023[81]. - The company did not purchase, sell, or redeem any of its listed securities during the review period[82]. - The company’s revised and restated memorandum and articles of association were adopted on June 8, 2023, with details available on the company’s website[83]. - There are no known interests or short positions in the company's shares or related shares by any individuals other than directors or senior management as of June 30, 2023[76]. - Total compensation for directors and key management personnel increased to RMB 2,739,000 in the first half of 2023, up from RMB 1,940,000 in the same period of 2022[138]. Future Outlook - The company anticipates gradual recovery in the film, series, and artist management sectors as pandemic restrictions ease and economic conditions improve[39]. - The company aims to leverage its production expertise and strategic partnerships to become a leading content production company in the Asia-Pacific region[39]. - The company has plans for market expansion and new product development, although specific details were not disclosed in the financial report[90].