电视广播(00511) - 2022 - 年度业绩

Financial Performance - The company reported a pre-tax loss of HKD 807,132,000 for the year ended December 31, 2022, compared to a loss of HKD 646,735,000 in 2021, reflecting an increase in losses of approximately 24.8%[4] - The group reported a total revenue of HKD 3,585,750,000 for the year 2022, an increase from HKD 2,898,622,000 in 2021, representing a growth of approximately 24%[59] - The group reported a total loss of HKD 885.9 million for the year, compared to a loss of HKD 657.1 million in the previous year[119] - The comprehensive loss for the year totaled HKD 957.2 million, with losses attributable to shareholders amounting to HKD 865.2 million[119] - The loss attributable to shareholders was HKD 807.13 million, compared to HKD 646.74 million in the previous year[67] Revenue Breakdown - Revenue from the mainland China business segment amounted to approximately HKD 382,197,000, up from HKD 314,332,000 in 2021, accounting for over 10% of total revenue[58] - The group’s revenue from external customers in Hong Kong was HKD 2,515,149,000, an increase from HKD 1,821,850,000 in 2021, representing a growth of approximately 38%[59] - Revenue from the Hong Kong television broadcasting business increased by 6% to HKD 1.294 billion, accounting for 36% of the group's total revenue[64] - Revenue from mainland China increased by 5% to HKD 698 million, up from HKD 666 million in the previous year[64] - E-commerce segment revenue soared 263% from HKD 238 million to HKD 863 million following the acquisition of the Store Group, although the segment still recorded an EBITDA loss of HKD 100 million[87] Expenses and Losses - Employee benefit expenses (excluding directors' remuneration) increased to HKD 1,524,231,000 in 2022 from HKD 1,449,140,000 in 2021, representing a rise of about 5.2%[1] - Total operating costs rose from HKD 3.707 billion to HKD 4.356 billion, an increase of 18%[69] - The EBITDA for the reported segment was a loss of HKD 338,407,000, compared to a loss of HKD 313,621,000 in the previous year[58] - The EBITDA for the group was negative HKD 338.41 million, compared to negative HKD 313.62 million in the previous year[67] - Total current tax expense for the year was HKD 39,829,000, up from HKD 31,990,000 in 2021, indicating an increase of approximately 24.5%[4] Impairments and Provisions - The company recognized an impairment provision of HKD 211,800,000 for the year ended December 31, 2022, related to the expected credit loss on notes receivable[12] - The total expected credit loss provision for notes receivable as of December 31, 2022, was HKD 225,300,000, significantly higher than HKD 13,500,000 as of December 31, 2021[12] - A non-cash impairment provision of HKD 212 million was recognized for the remaining ITT notes, resulting in a net loss of HKD 99 million from ITT investments for the year[109] Cash and Borrowings - The company has a total bank borrowings of HKD 2,176,355,000 as of December 31, 2022, compared to HKD 2,008,621,000 in the previous year, reflecting an increase of about 8.3%[24] - As of December 31, 2022, the group had unrestricted cash and bank balances of HKD 1.02 billion, down from HKD 1.18 billion a year earlier, with approximately 58% held in overseas subsidiaries[111] - Total borrowings amounted to HKD 2.176 billion, an increase from HKD 2.009 billion in the previous year, with a capital-to-debt ratio of 34.4% compared to 19.2% a year earlier[112] Corporate Governance and Compliance - The company has complied with the corporate governance code throughout the year 2022, adhering to the rules set forth by the Hong Kong Stock Exchange[39] - The company has adopted the revised standards for securities trading by directors and senior management, ensuring compliance with the latest regulations[40] - The audit committee consists of four members, primarily independent non-executive directors, ensuring compliance with financial reporting standards[46] Future Outlook and Strategic Initiatives - The company anticipates strong local economic growth in 2023 as Hong Kong gradually lifts pandemic restrictions[79] - The company has implemented various new measures to recruit and train talent in television production skills to ensure the sustainability and development of necessary skills[35] - Cost-saving measures are expected to save over HKD 260 million annually, affecting 5% of the workforce[80]