Financial Performance - Revenue for the year ended December 31, 2021, was approximately HK$3,159,240,000, representing an increase of 4.3% over the previous year[16] - The operating loss increased to approximately HK$647,290,000, a rise of 28.9% compared to the previous year, primarily due to impairment provisions for accounts receivable from Evergrande Group[16] - Loss attributable to owners of the Company was approximately HK$456,201,000, down from HK$1,037,043,000 the previous year, which included a share of fair value loss on internet media investment of approximately HK$585,686,000[16] - The Group's total revenue from internet media was HK$1,247,785,000, down from HK$1,473,327,000 in the previous year[23] - The Group's outdoor media revenue increased significantly to HK$942,977,000 from HK$574,979,000 in the previous year[23] - Revenue from television broadcasting decreased by 5.8% to approximately HK$703,705,000, accounting for 22.3% of total revenue[175] - Internet media revenue was approximately HK$1,247,785,000, down from HK$1,473,327,000, resulting in a segment loss of HK$300,346,000[175] - Outdoor media revenue increased significantly to HK$942,977,000, with a profit of HK$207,038,000 compared to HK$574,979,000 in 2020[175] - Revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel decreased by 5.7% to approximately HK$630,863,000, representing 20.0% of total revenue[175] - The overall segment loss before tax and non-controlling interests was HK$544,151,000, compared to a loss of HK$1,615,810,000 in 2020[175] Management and Corporate Changes - Mr. Xu Wei was appointed as the Chief Executive Officer and Chairman of the board, overseeing the day-to-day management of the Company and its subsidiaries[50][60] - The appointment of Mr. Sun Yusheng as Executive Vice President and Editor-in-Chief reflects the Company's focus on program planning and content management[51][60] - The company completed a conditional sale agreement on June 22, transferring a total of 1,894,110,000 shares, representing approximately 37.93% of the company's issued share capital, to two major shareholders[61] - Following the transaction, the new major shareholders include Bauhinia Culture Holdings Limited with 1,048,668,495 shares (approximately 21%) and Common Sense Limited with 845,441,505 shares (approximately 16.93%) of the company[61] - The company appointed Mr. Xu Wei as the Chairman of the Board and Executive Director, while Mr. Sun Yusheng was appointed as an Executive Director on the same day as the transaction[61] Strategic Focus and Development - The Chairman emphasized the need for continuous demonstration of brand recognition and credibility, focusing on core media business targeting Chinese communities globally[26] - The Group aims to build an international first-class Chinese media group, focusing on its strong base in Hong Kong and targeting Chinese communities in Hong Kong, Macau, Taiwan, and globally[26] - Phoenix continues to expand its omni-media matrix through various channels, including satellite, cable TV, and OTT platforms, enhancing its international influence[33] - The Group is nurturing new business forms, including customized media services and content consumption, to expand monetization opportunities[38] - The Group plans to continue consolidating its existing businesses while exploring new business opportunities to enhance its operations[198] Awards and Recognition - Phoenix has been listed as one of Asia's 500 Most Influential Brands for 16 consecutive years and ranked as a Top 4 TV brand in Asia[32] - Phoenix's programs have won multiple awards, including gold and silver prizes at the Promax UK Awards and the Asian Academy Creative Awards[32] - Phoenix TV won four national awards at the Asian Academy Creative Award, including Best Lifestyle Programme for "Hong Kong Perspectives: Species unique to Hong Kong" and Best Documentary Programme for "C'est La Vie: A Nian"[82] - Phoenix TV's "Premium Spectacular" was recognized as one of the Top Ten Programmes at the 27th Chinese Documentary Festival, highlighting its strong performance in documentary production[85] Operational Challenges - The COVID-19 pandemic intermittently affected the Group's operations, particularly impacting revenue from offline advertising events and exhibitions[182] - The Group did not recommend the payment of a final dividend for the year due to economic instability and challenges in the media industry[184] - The company faced challenges in reporting due to the pandemic and security threats during major events[110] International Coverage and Engagement - Phoenix TV reported on major global news events in 2021, including the U.S. Capitol attack and the inauguration of President Joe Biden[109] - The company covered the military coup in Myanmar, detailing the detention of Aung San Suu Kyi and the subsequent protests[113] - Phoenix TV provided extensive coverage of the China-U.S. high-level talks in Alaska, highlighting the tensions between the two nations[117] - The company utilized its global network of correspondents to report on international events, enhancing its coverage and audience engagement[107] - Phoenix TV's international role as a news reporter was emphasized through its comprehensive reporting on significant global issues[107] Financial Position and Investments - As of 31 December 2021, the Group's total cash and current bank deposits were about HK$1,304,835,000, down from HK$1,849,547,000 as of 31 December 2020[187] - The Group's structured deposits amounted to approximately HK$1,595,442,000 as of 31 December 2021, compared to HK$1,451,040,000 in the previous year[187] - The aggregate outstanding borrowings of the Group were approximately HK$533,932,000 as of 31 December 2021, a decrease from HK$726,179,000 as of 31 December 2020[187] - The gearing ratio of the Group was 83.3% as of 31 December 2021, compared to 78.9% as of 31 December 2020[187] - The Group's significant investments in listed securities had an estimated fair market value of approximately HK$14,317,000 as of December 31, 2021, compared to HK$12,440,000 as of December 31, 2020[194]
凤凰卫视(02008) - 2021 - 年度财报