Financial Performance - For the three months ended June 30, 2023, revenue was approximately HKD 4,500,000, a decrease of about 37.4% compared to approximately HKD 7,100,000 for the same period in 2022[5] - The loss attributable to owners of the company for the three months ended June 30, 2023, was approximately HKD 2,800,000, compared to a loss of approximately HKD 4,200,000 in 2022[5] - Basic loss per share for continuing and discontinued operations was approximately HKD 0.0245, compared to HKD 0.0393 in 2022[5] - The loss from continuing operations before income tax for the three months ended June 30, 2023, was approximately HKD 2,829,000, compared to HKD 4,497,000 in 2022[6] - Total comprehensive loss for the period was approximately HKD 2,820,000, compared to HKD 4,213,000 in 2022[7] - The company reported a net loss of HKD 2,829,000 for the three months ended June 30, 2023, compared to a loss of HKD 4,244,000 in the same period of 2022[14] Revenue Sources - Revenue from OTT services was HKD 4,471,000 for the three months ended June 30, 2023, down 37% from HKD 7,137,000 in the same period of 2022[17] - For the three months ended June 30, 2023, the OTT services generated revenue of approximately HKD 4,500,000, a decrease of about 37.4% compared to HKD 7,100,000 in the same period of 2022[30] - The decrease in OTT service revenue was primarily due to a decline in subscriptions as companies ceased work-from-home arrangements and social distancing measures were relaxed, leading to reduced home entertainment and increased competition from other OTT service providers[30] Dividends and Shareholder Returns - The board of directors did not recommend the payment of any interim dividend for the three months ended June 30, 2023, consistent with the previous year[5] - The company did not declare any interim dividend for the three months ended June 30, 2023, consistent with the previous year[22] - The board of directors did not recommend the payment of any dividends for the three months ended June 30, 2023, consistent with the previous year[42] Cost Management and Operational Efficiency - The company continues to focus on its core business operations while managing costs effectively to improve financial performance in the upcoming quarters[6] - Operating and administrative expenses decreased from approximately HKD 4,000,000 in 2022 to about HKD 2,500,000 in 2023, reflecting cost management in response to reduced revenue[38] - Financing costs decreased from approximately HKD 1,400,000 in 2022 to about HKD 900,000 in 2023, a reduction of approximately 34.0% due to lower borrowing costs[38] - The company has implemented cost control measures to enhance operational efficiency and improve future cash flow[16] Financing Activities - The company has secured new loans totaling HKD 15,000,000 from a financial institution and an individual, with an interest rate of 5% to 6% and due by June 2025[16] - The company issued convertible bonds amounting to HKD 12,000,000 at a conversion price of HKD 0.60 per share, with an interest rate of 3%[16] - Total borrowing costs for the three months ended June 30, 2023, were HKD 883,000, a decrease of 34% from HKD 1,337,000 in the same period of 2022[18] Future Outlook and Strategy - The company expects to benefit from the increase in user numbers due to the 5G plan and aims to leverage its OTT platform to provide a variety of media content, including movies and TV shows[37] - The company plans to continue exploring opportunities to acquire additional media content to enrich its media library and attract more customers in Hong Kong and Macau[37] - The company has not disclosed any new product developments or market expansion strategies during this reporting period[6] Corporate Governance and Compliance - The company has established an audit committee in compliance with GEM listing rules, consisting of three independent non-executive directors[52] - The audit committee reviewed the unaudited condensed consolidated financial information for the three months ended June 30, 2023, and confirmed compliance with applicable accounting standards and GEM listing rules[52] - The company has adopted corporate governance practices in accordance with GEM listing rules and has complied with the code provisions during the reporting period[53] - All directors confirmed compliance with the trading code for securities transactions during the three months ended June 30, 2023[54] - There are no known interests or businesses held by directors that may compete with the company's business as of June 30, 2023[51] Share Capital and Ownership - As of June 30, 2023, the total issued share capital of the company is 107,873,248 shares[47] - Masan Multi Strategy Fund SPC holds 8,139,000 shares, representing approximately 7.54% of the company's issued share capital[47] - The average number of ordinary shares used to calculate basic and diluted loss per share was 107,873,000 for both periods[24] Miscellaneous - The company reported no income from discontinued operations for the three months ended June 30, 2023, compared to a loss of HKD 5,000 in the same period of 2022[25] - The company did not make any significant investments, acquisitions, or disposals during the three months ended June 30, 2023[41] - There were no significant contracts involving the group where directors had a substantial interest during the three months ended June 30, 2023[50] - No purchases, sales, or redemptions of the company's listed securities occurred during the review period[55] - The professional services team focuses on providing cybersecurity solutions and risk management services across the Greater China and Asia-Pacific regions[31] - No other individuals, apart from those disclosed, held interests in shares or related securities that required disclosure under the Securities and Futures Ordinance as of June 30, 2023[48]
HMVOD视频(08103) - 2024 Q1 - 季度财报