Company Milestones and Achievements - The company celebrated its 85th anniversary in 2023, launching the "SING TAO HEADLINES" website with a new positioning and a series of commemorative activities[36] - In 2023, Sing Tao News Corporation celebrated its 85th anniversary with a series of successful events, marking a significant milestone in its history[62] - The Group launched a commemorative book titled "Growing with Hong Kong" to celebrate over 50 years of growth[77] Infrastructure and Capacity Expansion - The company expanded its printing capacity by adding a new production line, becoming the largest printing facility in Hong Kong and the first in Asia to receive multiple ISO certifications[32] - The company’s headquarters in Tseung Kwan O was officially opened in 2017, featuring an 8-story building with a total floor area of 33,000 square meters[34] Awards and Recognition - The company’s publications, including "Sing Tao Daily" and "Headlines Daily," won a total of 21 awards at the 2021 Hong Kong News Awards, showcasing its professional standards[34] - Sing Tao Daily won the Best News Reporting award for the series "Breaking the Scam" at the Hong Kong News Awards 2023[98] - Sing Tao Daily was awarded 1st Runner-up for the series "The Tragedy of Illegal Workers" and 2nd Runner-up for "Exploring Urban Resilience in Extreme Weather" at the same awards[98] - Sing Tao Daily received the Best News Writing (Chinese) award for the article "Hope to Live Up to Those Who Helped Me" about a Wenchuan earthquake survivor[99] - Headline Daily won the Best Photograph (Sports) award for "Speeding" and was 2nd Runner-up for "Ballet in Water" at the Hong Kong News Awards 2023[100] - Ohpama.com was recognized as the "No. 1 Digital Media of the Year - Parenting" for six consecutive years (2018-2023) by MARKETING-INTERACTIVE[93] - The Group's magazine Smart Parents has been awarded "Best Parenting Magazine" for eleven consecutive years, further solidifying its reputation in the market[161] Financial Performance - The consolidated revenue for the financial year ended December 31, 2023, was approximately HK$819.9 million, a slight increase from HK$815.0 million in the previous year[128] - Loss attributable to owners of the Company was approximately HK$49.1 million, significantly reduced from HK$138.8 million last year[128] - The Group maintained a cash balance of approximately HK$524.3 million as of December 31, 2023, up from approximately HK$472.5 million in 2022[133] - The gearing ratio was 0.8% as of December 31, 2023, down from 1.4% in the previous year[134] - The Board did not recommend the payment of a final dividend for the year, and no interim dividend was declared[129] - The Group paid approximately HK$15.2 million for purchases of property, plant, and equipment during the year[133] - The Group did not have any contingent liabilities or claims considered material as of December 31, 2023[136] Market and Economic Conditions - Economic sentiment in Hong Kong remained positive, but local consumption and advertising placements were impacted by geopolitical tensions and high-interest rates[58] - Advertising spending in Hong Kong amounted to HK$30.1 billion in 2023, reflecting a year-on-year increase of 5.4%[146] - The property sector experienced a year-on-year drop of 5% in advertising spending in 2023 due to market adjustments[150] - The magazine market in Hong Kong saw a significant 19.1% YoY decline in advertising spending in 2023, yet East Week maintained the largest market share[178] Digital Transformation and New Media - The Group is committed to digital transformation, enhancing its digital platforms and improving user experience through revamped websites and applications[174] - The Group has focused on enhancing its new media business, leveraging technologies like artificial intelligence and big data analytics to improve advertising effectiveness[156] - The new media platform "Sing Tao PROBE" was launched, serving as a complaint platform for citizens and businesses, enhancing community engagement[160] - The Group's new media business revenue showed significant growth in 2023, driven by improvements in user experience and the integration of AI and big data analytics[158] - The Group launched the new "Sing Tao Headline" website and optimized the app, achieving significant user growth and page views[157] Corporate Social Responsibility and Community Engagement - The company established the "Sing Tao Charity Fund" to provide financial support to those in need, including scholarships for students and assistance for disaster victims[38] - The Group is dedicated to sustainable development and corporate social responsibility, focusing on environmental protection and community involvement[183] Leadership and Management - Mr. Kwok Ying Shing has been the chairman and an executive director since 2021, and he is responsible for overall strategy and investment planning[188] - Ms. Kwok Hiu Ting has been the vice-chairman and co-CEO since 2021, with a background in business and sustainability management[197][198] - Mr. Cai Jin has been an executive director and co-CEO since 2021, bringing over 15 years of experience in media and finance[199] - The management team includes members with significant experience in both corporate governance and industry leadership[197][199] Future Outlook - Looking ahead to 2024, the Hong Kong Government's measures to promote economic development are expected to inject new momentum into the economy[182] - The Group aims to drive media innovation and digital transformation while maintaining its position in the traditional media market[182] - The Group plans to organize major events to promote market development and cultural communication in the Greater Bay Area[184]
星岛(01105) - 2023 - 年度财报