Financial Performance - For the six months ended June 30, 2022, the group's unaudited revenue was approximately HKD 24.0 million, a decrease of about 69.8% compared to approximately HKD 79.6 million for the same period in 2021[3]. - The unaudited loss attributable to the owners of the company for the six months ended June 30, 2022, was approximately HKD 25.0 million, compared to an unaudited profit of approximately HKD 0.5 million for the same period in 2021[3]. - The total comprehensive loss for the six months ended June 30, 2022, was approximately HKD 28.8 million, compared to a total comprehensive income of approximately HKD 2.8 million for the same period in 2021[5]. - For the six months ended June 30, 2022, the company reported a net loss of HKD 25,048,000 compared to a profit of HKD 519,000 in the same period of 2021[8]. - The company reported a net loss of approximately HKD 25.0 million for the six months ended June 30, 2022, compared to a net profit of approximately HKD 0.5 million for the same period in 2021, representing an increase in loss of approximately HKD 25.5 million[51]. Revenue Breakdown - Revenue from services for the six months ended June 30, 2022, was HKD 24,013,000, down 69.9% from HKD 79,618,000 in the same period of 2021[16]. - Revenue from the Hong Kong market for the six months ended June 30, 2022, was HKD 14,110,000, a decrease of 40.4% from HKD 23,594,000 in the same period of 2021[19]. - Revenue from the China market decreased to HKD 9,600,000 for the six months ended June 30, 2022, down 82.7% from HKD 55,443,000 in the same period of 2021[19]. - Revenue from exhibitions accounted for approximately 45.1% of total revenue for the six months ended June 30, 2022, down from 68.1% in the same period of 2021[40]. Assets and Liabilities - As of June 30, 2022, total assets amounted to approximately HKD 270.9 million, a decrease from approximately HKD 303.5 million as of December 31, 2021[6]. - The total equity attributable to the owners of the company as of June 30, 2022, was approximately HKD 100.4 million, down from approximately HKD 129.1 million as of December 31, 2021[6]. - The company's total liabilities as of June 30, 2022, were approximately HKD 170.6 million, slightly down from approximately HKD 174.3 million as of December 31, 2021[7]. - Trade receivables decreased to approximately HKD 46.6 million as of June 30, 2022, from approximately HKD 86.1 million as of December 31, 2021[6]. - Trade payables and notes payable increased to HKD 43.6 million as of June 30, 2022, from HKD 40.2 million as of December 31, 2021[33]. - Total borrowings decreased from HKD 99.96 million as of December 31, 2021, to HKD 96.54 million as of June 30, 2022[35]. Cash Flow and Expenses - Operating cash flow for the six months ended June 30, 2022, was HKD 15,098,000, an increase of 62% from HKD 9,253,000 in the same period of 2021[10]. - Employee benefit expenses decreased to HKD 10,699,000 for the three months ended June 30, 2022, down 26.5% from HKD 14,475,000 in 2021[22]. - Total service costs, selling expenses, and administrative expenses for the six months ended June 30, 2022, were HKD 52,024,000, down 30.5% from HKD 74,665,000 in 2021[21]. - Sales expenses decreased by approximately 62.5% from about HKD 1.6 million for the six months ended June 30, 2021, to about HKD 0.6 million for the same period in 2022, consistent with the decline in revenue[47]. - Administrative expenses slightly decreased by approximately 0.8% from about HKD 13.2 million for the six months ended June 30, 2021, to about HKD 13.1 million for the same period in 2022[48]. Corporate Governance and Shareholding - As of June 30, 2022, the company has 290,000,000 shares held by Mr. Huang Wenbo, representing a 72.5% ownership stake[69]. - Mega King, a wholly owned subsidiary of Jumbo Fame, also holds 290,000,000 shares, equating to a 72.5% ownership[71]. - The company has complied with the corporate governance code, except for a deviation regarding the roles of the Chairman and CEO, which are held by the same individual, Mr. Huang Wenbo[75]. - The company has not granted, exercised, canceled, or allowed any stock options under its stock option plan since its adoption in December 2017, and there are no unexercised options as of June 30, 2022[78]. - The audit committee, consisting of three independent non-executive directors, has reviewed the interim results for the six months ended June 30, 2022, and found the financial information to be prepared in accordance with applicable accounting standards[79]. Future Outlook - The company plans to explore business opportunities actively as the economies of Hong Kong, China, and Macau are expected to gradually recover[40]. - The company aims to minimize the impact of the pandemic and improve profitability for stakeholders in the future[40].
AV策划推广(08419) - 2022 - 中期财报