Financial Performance - For the six months ended September 30, 2023, the revenue was approximately HKD 9,000,000, a decrease of about 36.3% compared to HKD 14,100,000 for the same period in 2022[7] - The loss for the six months ended September 30, 2023, was approximately HKD 6,200,000, compared to a loss of HKD 6,600,000 in 2022[7] - The basic loss per share for the six months ended September 30, 2023, was approximately HKD 5.46, compared to HKD 6.07 for the same period in 2022[7] - For the three months ended September 30, 2023, the revenue was HKD 4,496,000, down from HKD 6,948,000 in 2022[8] - The total comprehensive loss for the six months ended September 30, 2023, was HKD 6,196,000, compared to HKD 6,571,000 in 2022[9] - The company reported a net loss of HKD 6,205,000 for the six months ended September 30, 2023, compared to a net loss of HKD 6,552,000 for the same period in 2022[23] - The company reported a loss attributable to shareholders of approximately HKD 5,900,000 for the six months ended September 30, 2023, compared to a loss of about HKD 6,600,000 in the same period of 2022[60] Revenue and Expenses - Operating and administrative expenses for the six months ended September 30, 2023, were HKD 5,886,000, a decrease from HKD 7,964,000 in 2022[8] - The revenue from OTT services for the three months ended September 30, 2023, was HKD 4,496,000, a decrease of 35.4% compared to HKD 6,948,000 for the same period in 2022[25] - For the six months ended September 30, 2023, the total revenue from OTT services was HKD 8,967,000, down 36.2% from HKD 14,085,000 in the previous year[25] - The operating loss for the OTT services segment was HKD (1,830,000) for the six months ended September 30, 2023, compared to a profit of HKD 1,040,000 in the same period of 2022[27] - Outsourcing costs decreased from approximately HKD 9,800,000 in the same period of 2022 to about HKD 8,500,000 due to the decline in revenue[60] - Employee costs for the six months ended September 30, 2023, totaled HKD 3,588,000, down from HKD 5,354,000 in the previous year[35] Financial Position - Total liabilities exceeded total assets by HKD 78,137,000 as of September 30, 2023, indicating significant financial distress[23] - The company's current liabilities exceeded current assets by HKD 31,518,000, raising concerns about liquidity[23] - The company reported a total equity attributable to owners of the company of HKD (72,999,000) as of September 30, 2023[13] - The company’s total assets were HKD 5,120,000, while total liabilities were HKD 36,638,000 as of September 30, 2023[12] - The company’s borrowings as of September 30, 2023, totaled HKD 43,479,000, an increase from HKD 40,481,000 as of March 31, 2023[49] Financing Activities - The company secured new borrowings and loan facilities totaling HKD 15,000,000 from a financial institution and an individual, with an interest rate between 5% and 6%[23] - A convertible bond agreement was established for a total principal amount of HKD 12,000,000, with a conversion price of HKD 0.6 per share and an annual interest rate of 3%[23] - The company completed a share placement on October 24, 2023, raising approximately HKD 23,010,000 in net proceeds[23] - The company completed a placement of 21,574,649 shares on October 24, 2023, representing approximately 16.67% of the issued share capital post-placement, raising net proceeds of about HKD 23,010,000[61] Dividend and Shareholder Information - The board of directors does not recommend the payment of any interim dividend for the six months ended September 30, 2023[7] - The company did not recommend any dividend payment for the six months ended September 30, 2023, consistent with the previous year[38] - The company aims to explore opportunities to attract more investors and expand its shareholder base to reduce accumulated losses and enhance fundraising flexibility[62] - As of September 30, 2023, major shareholders include Zheng Zhiheng with 8,628,500 shares (8.00%) and Masan Multi Strategy Fund SPC with 8,139,000 shares (7.54%)[79] Compliance and Governance - The audit committee, consisting of four independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended September 30, 2023[83] - The company confirmed compliance with the GEM Listing Rules regarding securities transactions by directors, with no violations reported for the six months ending September 30, 2023[85] - During the review period, the company or its subsidiaries did not purchase, sell, or redeem any of its listed securities[86] Operational Strategies - The company is implementing cost control measures to improve operational efficiency and enhance future cash flow[23] - The company has not disclosed any new product developments or market expansion strategies in the report[10] - The company has not completed any significant investments, acquisitions, or disposals during the six months ended September 30, 2023[65] - The company plans to allocate approximately HKD 5,000,000 for purchasing OTT service content, HKD 7,000,000 for concert production, and HKD 11,000,000 for general working capital[61]
HMVOD视频(08103) - 2024 - 中期财报