Financial Performance - The company reported revenue of approximately HKD 94.4 million for the year ended December 31, 2022, a significant decrease of about HKD 72.2 million or 43.3% compared to the previous year[9]. - The gross loss for the reporting period was approximately HKD 17.6 million, compared to a gross profit of about HKD 25.9 million for the year ended December 31, 2021[9]. - The net loss increased from approximately HKD 9.7 million for the year ended December 31, 2021, to about HKD 53.5 million for the reporting period[9]. - The group's total revenue for the reporting period was approximately HKD 94.4 million, a significant decrease of about HKD 72.2 million or 43.3% compared to the previous year[14]. - The net loss increased from approximately HKD 9.7 million in the previous year to about HKD 53.5 million in the reporting period[14]. - The group reported a net loss of approximately HKD 53,529,000 for the year ended December 31, 2022[95]. - As of December 31, 2022, the group's current liabilities exceeded its current assets by HKD 17,426,000, indicating significant uncertainty regarding the group's ability to continue as a going concern[95]. Operational Impact - The COVID-19 pandemic significantly impacted operations, leading to a reduction in the number of events conducted during the reporting period[9]. - The number of events handled by the group decreased to 698 from 783 in the previous year, reflecting the impact of the pandemic on operations[18]. - Revenue from exhibitions accounted for approximately 54.2% of total revenue, down from 67.9% in the previous year[18]. - The group participated in approximately 700 events during the reporting period, a decrease from 780 events in the previous year[13]. Strategic Plans - The company plans to maintain a cautious approach and robust financial policies to improve financial performance and actively explore business opportunities[10]. - The company intends to explore potential business opportunities outside the live event industry, such as content distribution and production expertise, to expand revenue sources[10]. - The group will maintain a cautious approach and seek potential opportunities to expand revenue sources and enhance shareholder value[14]. Governance and Management - The company has a strong leadership team, with key executives having over 25 years of industry experience in audio-visual solutions and technology integration[50][51][56]. - The company has a diverse board with members holding various qualifications and extensive experience in finance and law, contributing to its strategic direction[54][56]. - The board believes that having the same individual serve as both Chairman and CEO is beneficial for the company's operations and management[68]. - The board is responsible for formulating the overall strategy and monitoring management performance, with management authorized to handle daily operations[70]. - The company has adopted the GEM Listing Rules regarding the conduct of securities transactions by directors, confirming compliance during the reporting period[69]. Employee and Workforce Management - The group employed 159 staff members as of December 31, 2022, down from 171 in the previous year, with total employee costs amounting to approximately HKD 52.5 million[47]. - The total number of employees at the end of the reporting period was 159, a decrease from 171 in the previous year, representing a reduction of approximately 7%[189]. - The employee turnover rate for the total workforce was 18.8%, slightly down from 19.7% in the previous year[189]. - The average training hours per employee decreased to 13.0 hours from 13.5 hours in the previous year[196]. - There were no recorded work-related injuries or fatalities during the reporting period, consistent with the previous two years[191]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the group's performance in environmental, social, and governance (ESG) matters from January 1, 2022, to December 31, 2022[122]. - The group is committed to integrating sustainability into its operations, focusing on responsible and value-optimizing practices[124]. - The company aims to set strategic goals for the next three to five years, focusing on achieving sustainable development outcomes[142]. - The company is committed to reducing its carbon footprint and managing resources responsibly, despite its operations having minimal direct environmental impact[143]. - The company has established waste classification recycling bins in the office to enhance recycling awareness among employees[152]. Climate Change and Risk Management - The company is exploring opportunities to collaborate with partners to enhance climate change resilience and reduce carbon footprint[164]. - The company plans to establish a natural disaster emergency plan to address acute physical risks such as extreme weather events, which may increase operational costs and maintenance expenses[173]. - The company is actively monitoring environmental laws and regulations to avoid litigation risks associated with non-compliance with new rules[175]. - The company has increased capital investment and R&D spending to enhance low-carbon and energy-saving technologies[176]. Shareholder Relations - The company maintains a high level of transparency to strengthen investor relations, with annual and quarterly reports updating shareholders on business developments and financial performance[112]. - The company has adopted a share option scheme since December 1, 2017, aimed at attracting and retaining top talent, with no options granted, exercised, cancelled, or lapsed as of December 31, 2022[48]. - The board of directors did not recommend the payment of any final dividend for the reporting period, consistent with the previous year[49].
AV策划推广(08419) - 2022 - 年度财报