Digital Transformation and Innovation - Sing Tao News Corporation launched the "Sing Tao Headline" app early in 2022, achieving significant success in the digital arena amidst the challenges posed by the COVID-19 pandemic[13]. - The company has been continuously innovating to integrate print media with new media, enhancing user experience and adapting to digital transformations[13]. - Sing Tao aims to achieve breakthroughs in employee thinking and business models to keep pace with the evolving media landscape[13]. - The "Sing Tao Headlines" app achieved over 2 million downloads since its launch in January 2022, integrating big data and AI technologies[99]. - The total daily page views for the "Sing Tao Headlines" platform approached 10 million in early 2023, more than doubling from mid-2022[100]. - The "Sing Tao Headlines" website content transitioned from the Headline Daily website in February 2023, streamlining user access to news[101]. Financial Performance and Management - The consolidated revenue for the financial year ended December 31, 2022, was approximately HK$815.0 million, a decrease from approximately HK$834.8 million in the previous year[69]. - Loss attributable to owners of the Company amounted to approximately HK$138.8 million, slightly improved from a loss of approximately HK$139.8 million last year[69]. - The Group maintained a cash balance of approximately HK$472.0 million as of December 31, 2022, down from approximately HK$527.0 million in the previous year[71]. - The gearing ratio increased to 1.4% as of December 31, 2022, compared to 0.3% in the previous year[72]. - The Board did not recommend the payment of a final dividend for the Year, and no interim dividend was declared[70]. - The Group adopted a prudent approach in managing its treasury function to minimize the impact of foreign exchange fluctuations[73]. - The financial position of the Group remained strong throughout the Year[71]. - The Group did not have any significant investments, material acquisitions, or disposals of subsidiaries during the year[81]. Market Trends and Advertising - Local advertising expenditure in 2022 was HK$28.1 billion, similar to 2021, but recorded a decrease of 5.3% in the first quarter due to the impact of COVID-19[84]. - Digital media advertising expenditure recorded a 7% year-on-year increase in 2022, indicating a shift towards digital channels[91]. - The advertising expenditure on free newspapers decreased by 15% YoY in 2022 due to the impacts of COVID-19 and economic conditions, affecting advertising income[109]. - The group is actively expanding non-consumption goods advertising categories and enhancing online and offline joint advertising sales[109]. - The Group anticipates a recovery in local advertising expenditures in 2023, supported by the lifting of quarantine restrictions in Mainland China and Hong Kong[129]. Community Engagement and Social Responsibility - Sing Tao organized major celebration activities for the 25th anniversary of the establishment of the Hong Kong Special Administrative Region, showcasing its community engagement[24]. - The Group's strategic focus includes promoting healthy and sustainable social development as a guiding principle for its operations[12]. - Sing Tao Daily's overseas offices actively engaged in cultural activities to strengthen connections with overseas Chinese communities[41]. - The "Sing Tao Learning Platform" launched a national education and media literacy program, attracting over 30,000 teachers and students, contributing additional revenue[118]. Corporate Governance and Management - The Company has adopted the Corporate Governance Code and complied with it throughout the review period, with specified deviations explained[167]. - The Board consists of seven directors, including four executive directors and three independent non-executive directors, as of December 31, 2022[169]. - The Company maintains liability insurance for its directors and senior management officers to cover legal liabilities arising from their duties[176]. - The Company encourages all directors to participate in continuous professional development programs relevant to their duties, with expenses covered by the Company[183]. - The Board is responsible for reviewing and approving the Group's objectives, strategies, and annual budget[170]. - The Remuneration Committee approved discretionary bonuses for Executive Directors and senior management based on their performances[191]. Milestones and Celebrations - In 2023, Sing Tao celebrates its 85th anniversary, marking a significant milestone in its evolution from a local newspaper to a global multimedia group serving Chinese communities worldwide[16]. - 2023 marks the 85th anniversary of Sing Tao, which the company plans to celebrate with a series of exhibitions showcasing its development history and Hong Kong's history[135].
星岛(01105) - 2022 - 年度财报