Financial Performance - The revenue for the six months ended June 30, 2022, was approximately HK$1,490,072,000, representing an increase of 7.4% compared to the same period last year[6]. - The operating loss for the Group increased to approximately HK$365,246,000, which is a 21.9% increase from HK$299,651,000 in the same period last year[6]. - The loss attributable to owners of the Company was approximately HK$330,508,000, compared to HK$245,175,000 for the same period last year[7]. - The Group's total loss for the period was approximately HK$447,750,000, compared to HK$256,796,000 for the same period last year[11]. - The total comprehensive expense for the period was HK$597,537, compared to HK$143,830 in the same period last year, indicating a substantial rise in overall losses[148]. - Basic and diluted loss per share for the period was HK$6.62, compared to HK$4.91 in the same period of 2021, reflecting a worsening financial position[143]. - The loss for the period was HK$447,750,000, compared to a loss of HK$330,508,000 in the previous period, indicating a worsening of approximately 35.5%[162]. Revenue Breakdown - Television broadcasting revenue increased to HK$557,995,000 from HK$321,985,000, while internet media revenue decreased to HK$453,830,000 from HK$587,771,000[11]. - Revenue from television broadcasting rose by 73.3% to approximately HK$557,995,000, accounting for 37.4% of the total revenue[43]. - Revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel increased by 22.5% to approximately HK$347,447,000, representing 23.3% of the Group's total revenue[43]. - The total revenue from Phoenix Hong Kong Channel and other integrated media platforms surged by 447.5% to approximately HK$210,548,000[43]. - Outdoor media revenue was approximately HK$381,642,000, showing a slight increase from HK$378,490,000 in the previous year[43]. - The revenue of the internet media business decreased by 22.8% to approximately HK$453,830,000 compared to HK$587,771,000 for the six months ended 30 June 2021, with a segmental loss of approximately HK$275,402,000[47]. - The revenue of the outdoor media business increased by 0.8% to approximately HK$381,642,000, while the segmental profit decreased by 31.3% to approximately HK$50,205,000 compared to HK$73,059,000 for the six months ended 30 June 2021[47]. Operational Highlights - The Chairman emphasized the focus on core media business, international market, innovation, and talent development to build an international first-class Chinese media group[15]. - New programs were launched to enhance news professionalism and live broadcasts, significantly increasing viewership among Chinese audiences[17]. - In the first half of 2022, Phoenix Media achieved continuous improvement in operational performance, focusing on media professionalism and international influence[18]. - Phoenix Media launched new programs and enhanced its broadcasting capabilities, resulting in significant improvements in viewership ratings[19]. - The flagship product IFENG News App maintained a leading position among Chinese users, with ongoing optimizations in content operation and algorithmic strategy[31]. - The Group aims to strengthen its brand recognition and international influence while targeting Chinese communities globally[15]. - The Group is actively exploring synergistic cooperation among its various media platforms to strengthen overall competitiveness[31]. Financial Position - The Group's total cash and current bank deposits were about HK$1,231,381,000 as at 30 June 2022, down from HK$1,304,835,000 as at 31 December 2021[50]. - The Group's structured deposits were approximately HK$1,339,928,000 as at 30 June 2022, compared to HK$1,595,442,000 as at 31 December 2021[50]. - The aggregate outstanding borrowings of the Group were approximately HK$516,160,000 as at 30 June 2022, a decrease from HK$533,932,000 as at 31 December 2021[50]. - The gearing ratio of the Group was 91.6% as at 30 June 2022, up from 83.3% as at 31 December 2021[50]. - Total assets as of June 30, 2022, were HK$8,137,032, a decrease from HK$8,782,952 as of December 31, 2021[153]. - Current assets totaled HK$4,780,475, down from HK$5,262,800 at the end of 2021, showing a decline in liquidity[153]. - Total equity attributable to owners of the Company decreased from HK$5,414,427,000 to HK$4,820,686,000, representing a decline of approximately 10.95%[158]. Corporate Governance - The company has adopted its own corporate governance code, aligning with the Corporate Governance Code provisions[127]. - The company has an in-house audit function to assist the Board in monitoring governance and risk management[127]. - The Risk Management Committee has been actively monitoring corporate governance practices throughout the reporting period[127]. - The board of directors includes Mr. Xu Wei as Chairman and CEO, and Mr. Sun Yusheng as Deputy CEO and Editor-in-Chief, among others[139]. - The company believes that the consecutive appointment of the Chairman is beneficial for long-term business planning and strategy[134]. - The Audit Committee has reviewed the unaudited condensed consolidated interim financial information for the period and provided advice and comments[134]. - The company has established a code of conduct for employees regarding securities transactions to prevent insider trading[134]. Share Options and Equity - As of June 30, 2022, the total number of issued shares was 4,993,659,500[114]. - No share options were granted, exercised, lapsed, or cancelled during the period, and no options were granted to directors or substantial shareholders[82]. - The 2017 Share Option Scheme was approved on 7 February 2017, allowing for the cancellation of up to 95,894,000 unexercised share options from the 2009 scheme[74]. - The total balance of share options as of January 1, 2022, was 25,915,121[97]. - The number of share options lapsed during the period was 2,163,871[96]. - The 2018 PNM Share Option Scheme was approved on June 6, 2018, to grant options to selected eligible persons as incentives for their contributions[94]. Financial Risks and Compliance - The Group's activities expose it to various financial risks, including market risk, credit risk, and liquidity risk, which remain unchanged since year-end[193]. - The Group has not made any early adoptions of new standards, amendments, or interpretations that have been issued but are not effective for the financial year ending 31 December 2022[185]. - The Group's financial risk management information is not fully included in the interim financial information and should be read in conjunction with the annual financial statements as at 31 December 2021[193]. - The Group's management has made significant judgments and estimates in applying accounting policies, consistent with those used in the consolidated financial statements for the year ended 31 December 2021[189].
凤凰卫视(02008) - 2022 - 中期财报