Business Transformation - In 2023, i-CABLE Communications Limited underwent a significant transformation by surrendering its Pay TV Licence and shifting focus to free-to-air television and multimedia programmes, moving towards an omnimedia direction[12]. - The Group terminated its Pay TV operation effective June 1, 2023, redirecting resources towards the development of an omnimedia platform to adapt to changing audience consumption habits post-pandemic[41]. - The transition to an omnimedia approach was a strategic decision to adapt to changing consumption habits in the post-pandemic era[17]. Management and Leadership - The Group's management change welcomed Mr. TO Chi Hak as the new CEO, aiming to guide the company through a challenging operating environment[13]. - The Group is actively recruiting and nurturing production talents to develop innovative programs targeting diverse audience age groups, aiming to boost viewership ratings and advertising revenue[46]. Digital Media and Audience Engagement - The Group's digital media operations saw significant reforms, enhancing the hoy.tv website and HOY mobile application, which improved live streaming stability and offered a wide range of on-demand videos[19]. - The overall number of users for both the website and mobile application exhibited a consistent upward trend, indicating successful audience engagement[19]. - The Group's digital media platforms, including hoy.tv and the HOY mobile app, underwent comprehensive reforms, resulting in a stable increase in overall user numbers[21]. - As of December 31, 2023, the Group's Facebook pages accumulated over 2.5 million followers, representing a 25% increase compared to 2022, and reached over 34 million users with more than 9 million interactions in 2023[63]. - By December 2023, monthly active users on the hoy.tv website reached 200,000, a year-on-year increase of 6.5%, with a peak of over 600,000 active users recorded in the highest month[110]. - The HOY Mobile App underwent a complete overhaul in August 2023, resulting in over 520,000 cumulative downloads by December 31, 2023, a notable increase of 2.5 times compared to the previous year[111]. - The "i-CABLE News" mobile app achieved over 1.3 million downloads in 2023, reflecting a 13% increase from the previous year, with a steady upward trend in overall user numbers[113]. Advertising and Revenue - The advertising revenue was impacted by a cautious approach from advertisers due to high interest rates and stock market volatility, alongside a trend of "Revenge Travel" among Hong Kong residents[16]. - The Group maintained a creative and adaptable approach in producing programmes to cater to diverse market needs and enhance advertising revenue[16]. - The advertising market is expected to benefit from the recovery of economic activities and inbound tourism in the upcoming year[25]. - In Q3 2023, Hong Kong's economy showed improvement, with increased consumer expenditure leading to higher advertising spending on HOY TV, particularly in food and beverage, health and medicine, tourism, and insurance sectors[49]. - The Group's advertising revenue from real estate, finance, and related trading platforms experienced a slowdown due to a challenging external environment and local stock market volatility[54]. - The popularity of the Asian Games and customized content production by HOY TV successfully boosted program sponsorship and advertising revenue[97][98]. Content Production and Programming - The successful broadcasting of the "19th Asian Games Hangzhou" marked the Group's first large-scale sports event broadcast on free TV, generating excitement and demonstrating the effectiveness of the new business model[18]. - The Group's commitment to enhancing audience viewing experiences through digital media is evident in the successful broadcasting of simultaneous events during the Asian Games[19]. - The Group's diversified content strategy includes various programme types such as variety shows, cooking, lifestyle, and health, aimed at boosting viewership ratings and attracting advertising revenue[64]. - The drama series lineup included popular titles such as "The Legends of Monkey King" and "Lost You Forever Season I," contributing to the Group's diverse content strategy[93]. - The program "Undercover Travel Group 3.0" achieved a peak viewership rating of 4.5, with a YouTube episode exceeding 540,000 views[73]. - The Group produced various travel-related programs, including "Live Offline" and "Macau Miko Tour," enhancing its diversified content offerings[72][75]. - The program "Scam Alert" featured 16 artists reenacting real fraud cases to educate the audience about social fraud[87]. Telecommunications and Infrastructure - The Group's telecommunications business serves over 2 million households in Hong Kong, demonstrating consistent performance[24]. - The Group introduced roaming services for the Greater Bay Area, Asia, and international destinations to meet the growing demand from Hong Kong residents[24]. - The Group's strategic focus includes investing in infrastructure and delivery platforms to enhance service levels and customer convenience[41]. - The Group is actively exploring B2B opportunities and expanding its product portfolio, including venturing into the commercial broadband business and managing optical cabling systems[121]. - The Group's telecommunications network serves over 2 million households in Hong Kong, with ongoing investments in expanding the Gigabit Passive Fiber Network (GPON) for high-speed internet services[119]. Environmental, Social, and Governance (ESG) - The Group's ESG working group validates and confirms key material ESG issues linked to respective aspects and KPIs of the ESG Guide[146]. - Greater emphasis has been placed on ESG issues related to product responsibility, employee safety, supply chain management, and environmental protection[147]. - The Group's environmental impact management includes policies on waste management and energy consumption[6]. - The Group received ISO 9001:2015 and ISO 10002:2018 certifications for quality management and customer satisfaction, which were maintained during the reporting period[156]. - The Group's internal control and risk management systems are continuously evaluated by professional consultants to identify and improve deficiencies[137]. - The Group aims to align its long-term sustainability goals with stakeholder expectations and concerns[140]. Employee and Workplace Safety - The Group is committed to maintaining a healthy and safe workplace, with four health and safety policies established and posted on the intranet[165]. - The injury rate for 2023 was 0.0083, an increase from 0.0068 in 2022, with a total of 531 lost days reported[172]. - The lost days rate for 2023 was 0.0020, compared to 0.0006 in 2022, indicating a rise in workplace incidents[172]. - The absentee rate for 2023 was 0.0204, up from 0.0120 in 2022, reflecting a decline in employee attendance[172]. - The Group organized recreational activities to promote employee well-being, including latte art classes and seasonal food appreciation[174]. Community Engagement and Corporate Social Responsibility - The Group will continue to develop its CSR work in line with its business plans and strategies, relying on employee support[153]. - The Group received the 12th "Junzi Corporation Award" by The Hang Seng University of Hong Kong for its contributions to society[156]. - The Group's customer experience priority includes an efficient system for handling complaints and inquiries, ensuring timely responses[157]. Environmental Impact and Emissions - The Group achieved a 28% reduction in diesel consumption, with 40,152 liters consumed in 2023 compared to 56,094 liters in 2021[139]. - The Group recorded NOx emissions of 0.29 tonnes, down from 0.35 tonnes in 2022, representing a reduction of approximately 17.14%[190]. - PM emissions decreased from 0.034 tonnes in 2022 to 0.027 tonnes in 2023, a reduction of approximately 20.59%[190]. - Total greenhouse gas emissions rose from 4,734 tonnes in 2022 to 5,258 tonnes in 2023, an increase of approximately 11.05%[192]. - The Group produced 16 tonnes of non-hazardous waste in 2023, up from 8 tonnes in 2022, representing a 100% increase[196]. - The Group recycled 4 tonnes of paper in 2023, an increase from 3 tonnes in 2022[199].
有线宽频(01097) - 2023 - 年度财报