Financial Performance - Total revenue for the fiscal year 2021 reached RMB 904.1 million, a significant increase of 97.4% compared to RMB 458.0 million in fiscal year 2020[32] - Gross profit margin for the fiscal year 2021 was 29.6%, up by 0.8 percentage points year-on-year[32] - Net profit for the fiscal year 2021 amounted to RMB 102.6 million, a substantial rise of 307.1% from RMB 25.2 million in fiscal year 2020[32] - Net profit margin for the fiscal year 2021 was 11.3%, an increase of 5.8 percentage points year-on-year[32] - Profit attributable to equity shareholders was RMB 92.5 million, compared to RMB 23.4 million in fiscal year 2020[32] - Basic earnings per share for the fiscal year 2021 were RMB 12.51, up from RMB 3.05 in fiscal year 2020[32] - Revenue for 2021 reached RMB 904,057 thousand, a significant increase of 97.5% compared to RMB 457,999 thousand in 2020[78] - Profit before tax for 2021 was RMB 144,628 thousand, up 275.5% from RMB 38,551 thousand in 2020[78] - Net profit attributable to shareholders for 2021 was RMB 92,488 thousand, representing a growth of 294.5% from RMB 23,423 thousand in 2020[78] - Total assets as of December 31, 2021, amounted to RMB 716,244 thousand, an increase of 21.7% from RMB 588,602 thousand in 2020[78] - Total liabilities increased to RMB 286,830 thousand in 2021, up from RMB 215,765 thousand in 2020, reflecting a growth of 33%[78] - Net asset value for 2021 was RMB 429,414 thousand, a rise of 15.1% compared to RMB 372,837 thousand in 2020[78] - Equity attributable to shareholders increased to RMB 406,315 thousand in 2021, up from RMB 359,929 thousand in 2020, marking a growth of 12.9%[78] Revenue Breakdown - Total revenue for the company in the fiscal year 2021 was RMB 904.1 million, with mainland China contributing RMB 852.2 million (94.3%) and Hong Kong and Singapore contributing RMB 51.9 million (5.7%)[44] - In the fiscal year 2021, the company's experiential marketing services revenue reached RMB 686.0 million, a 120.3% increase from RMB 311.4 million in fiscal year 2020, accounting for 75.9% of total revenue[49] - The digital marketing services revenue for fiscal year 2021 was RMB 201.7 million, up 51.3% from RMB 133.3 million in fiscal year 2020, representing 22.3% of total revenue[50] - The IP expansion business generated revenue of RMB 16.3 million in fiscal year 2021, a 22.6% increase from RMB 13.3 million in fiscal year 2020, contributing 1.8% to total revenue[54] Market Trends and Opportunities - The metaverse market is projected to reach $800 billion by 2024 and $1.5 trillion by 2030, with domestic market expectations of RMB 640 billion by 2025, indicating significant growth opportunities[33] - The luxury goods market in China grew by 36% in the fiscal year 2021, reaching approximately RMB 471 billion, with expectations for increased advertising investments from luxury brands[37] - Online sales of personal luxury goods in China grew by approximately 56% in 2021, significantly outpacing the 30% growth in offline sales, highlighting a shift towards digital channels[38] - The virtual idol industry injected RMB 645.6 billion into the economy in 2020, with projections of RMB 1,074.9 billion in 2021, showcasing the potential for content and product development[39] Strategic Initiatives - The company announced a strategic investment in Beijing Weikuai Technology Group, a leading enterprise in the virtual content production sector, establishing a joint venture with a 51% stake to explore the metaverse marketing domain[33] - The company aims to enhance its digital marketing capabilities, focusing on a comprehensive marketing layout that integrates offline, online, and metaverse services[35] - The company plans to increase investments in digital marketing services and actively pursue acquisition opportunities in e-commerce businesses to capitalize on growth trends[38] - The company established a strategic partnership with Fosun International in April 2021, becoming a preferred marketing partner for its brand portfolio[49] - The company plans to collaborate with Hongkong Land to establish a joint venture for long-term operations in Shanghai's Xuhui Riverside Financial City[53] - The company aims to enhance Shanghai's status as a world-class design capital through strategic partnerships and participation in the Shanghai Design Week[54] Corporate Governance - The company has implemented strict corporate governance principles to ensure high levels of ethics, transparency, accountability, and integrity in its operations[95] - The board consists of seven members, including four executive directors and three independent non-executive directors, ensuring a diverse leadership structure[80] - The company has adhered to the Corporate Governance Code as outlined in the listing rules[96] - The board is responsible for leading and controlling the company, overseeing business strategies, and ensuring effective internal control and risk management systems[97] - The company has a commitment to maintaining and promoting effective internal control measures across all business areas[95] - The board's main powers include convening shareholder meetings, reporting on its work, and approving the company's operational and investment plans[98] - The company has a strong focus on enhancing transparency and accountability to all shareholders[95] - The roles of the Chairman and CEO are currently held by the same individual, Mr. Liu Jin Yao, to enhance business planning and implementation effectiveness[100] Risk Management - The company has established risk management policies to identify, assess, and manage key risks affecting the business[146] - The board is responsible for reviewing and approving the effectiveness and appropriateness of the company's risk management and internal control systems[149] - The company has not established an independent internal audit department but has implemented sufficient measures to fulfill internal audit functions from various aspects of the group[149] Shareholder Relations - The company emphasizes effective communication with shareholders to enhance investor relations and transparency in corporate information[157] - The board of directors has reviewed the shareholder communication policy for the year ending December 31, 2021, and deemed it effective and adequately implemented[157] Environmental, Social, and Governance (ESG) - The company has implemented environmental protection measures and encourages energy conservation among employees[172] - The Environmental, Social and Governance (ESG) Committee also held one meeting in the fiscal year 2021, reviewing the 2020 ESG report and discussing the work plan for the 2021 ESG report[141]

Dividends - The company proposed an interim dividend of HKD 1.03 per ordinary share and a special interim dividend of HKD 6.93 per ordinary share, totaling HKD 60,076,000[32]. - The record date for the interim and special interim dividends is August 26, 2021, with expected distribution to shareholders on September 7, 2021[32]. - As of June 30, 2021, the company declared an interim dividend of HKD 1.03 per ordinary share and a special dividend of HKD 6.93 per ordinary share, totaling RMB 49,888,000 for the six months ended June 30, 2021[148]. Financial Performance - The interim results for the six months ended June 30, 2021, were reviewed by the company's audit committee, with comparisons made to the same period in 2020[31]. - Revenue for the six months ended June 30, 2021, was RMB 385,188 thousand, a significant increase of 436% compared to RMB 71,792 thousand for the same period in 2020[81]. - Gross profit for the same period was RMB 105,985 thousand, up from RMB 25,802 thousand in 2020, reflecting a gross margin improvement[81]. - Profit before tax for the six months ended June 30, 2021, was RMB 56,730 thousand, compared to a loss of RMB 18,675 thousand in the prior year[81]. - Net profit for the period was RMB 38,495 thousand, a turnaround from a loss of RMB 19,952 thousand in 2020[81]. - Basic and diluted earnings per share for the six months ended June 30, 2021, were RMB 4.80, compared to a loss per share of RMB 2.47 in the same period last year[81]. - The group recorded a net profit of RMB 38.5 million in mid-2021, compared to a net loss of RMB 20.0 million in mid-2020, reflecting an increase in revenue[55]. - The company reported a pre-tax profit of RMB 56,730 thousand for the six months ended June 30, 2021, compared to a loss of RMB 18,675 thousand in the same period of 2020[101]. - The company’s total revenue for the first half of 2021 showed a significant increase compared to the previous year, reflecting positive market trends and operational performance[138]. Revenue Growth - The integrated marketing solutions segment generated approximately RMB 375.1 million in revenue, up from RMB 70.8 million in the same period of 2020, reflecting a substantial growth[41]. - The experience marketing service revenue surged by 1,286.5% to approximately RMB 277.3 million, compared to RMB 20.0 million in 2020[43]. - Digital marketing and brand promotion services revenue increased by 66.2% to approximately RMB 78.3 million, up from RMB 47.1 million in 2020[44]. - Public relations services revenue rose by 427.0% to approximately RMB 19.5 million, compared to RMB 3.7 million in the previous year[45]. - The IP development segment's revenue increased by 910.0% to approximately RMB 10.1 million, up from RMB 1.0 million in 2020[46]. - Revenue from external customers in mainland China increased significantly to RMB 370,008 thousand in 2021 from RMB 67,409 thousand in 2020, representing a growth of 448%[121]. - The revenue from integrated marketing solutions segment was RMB 375,100 thousand in 2021, compared to RMB 70,754 thousand in 2020, reflecting a growth of 431%[125]. Strategic Focus - The group reported a focus on integrated marketing solutions, particularly in experiential marketing, digital marketing, and public relations services in mainland China[33]. - The company aims to leverage its partnerships to enhance brand promotion and sponsorship opportunities in China[33]. - The company has been rapidly growing and is recognized as a leading provider of integrated marketing solutions[33]. - The group emphasizes the development of sports and entertainment IP, enhancing its market presence in China[33]. - The company has established exclusive rights for hosting approved events related to La Liga and the Tour de France in China[33]. - The company is focusing on integrating offline and online consumer data to improve operational decision-making and enhance strategic value for brands[39]. - The company is committed to enhancing its digital marketing services to provide more valuable and quantifiable marketing solutions for brands[38]. - The company entered into a strategic partnership with Vision Entertainment in July 2021 to establish a joint venture focused on live e-commerce in mainland China[162]. Operational Efficiency - Gross profit increased by 310.9% to RMB 106.0 million, while the overall gross margin decreased to 27.5% from 35.9% in 2020[49]. - Total sales costs rose to RMB 279.2 million from RMB 46.0 million in the same period of 2020, primarily due to increased revenue[48]. - Selling and distribution expenses increased to RMB 32.5 million from RMB 30.1 million, primarily due to rising employee costs[51]. - The company experienced a significant reduction in financial costs, reporting RMB 302 thousand in 2021 compared to RMB 1,916 thousand in 2020[101]. - The company reported rental expenses of RMB 1,125,000 for the six months ended June 30, 2021, consistent with the previous year[149]. Shareholder Information - The company has a significant shareholder, ACT Partners, holding 169,430,994 shares, which is 22.45% of the total shares[71]. - Mr. Liu owns 154,413,522 shares, accounting for 20.46% of the total shares[70]. - Ms. Liu has a stake of 42,929,466 shares, which is 5.69% of the company[72]. - The company repurchased a total of 7,118,000 shares at a total cost of approximately HKD 5,996,440 during the interim period[77]. - 7,094,000 of the repurchased shares were cancelled during the interim period[77]. - The company suspended share transfer registration from August 24 to August 26, 2021, to determine shareholders entitled to receive interim dividends[76]. Cash Flow and Assets - As of June 30, 2021, the group's cash and cash equivalents were approximately RMB 300.4 million, slightly down from RMB 302.9 million on December 31, 2020[56]. - Trade receivables increased from RMB 222.7 million on December 31, 2020, to RMB 260.9 million on June 30, 2021, while trade payables rose from RMB 143.5 million to RMB 180.6 million during the same period[63]. - Total assets as of June 30, 2021, were RMB 1,056,755 thousand, compared to RMB 1,003,218 thousand at the end of 2020[86]. - The company's total equity increased to RMB 413,152 thousand as of June 30, 2021, from RMB 372,837 thousand at the end of 2020[90]. - Non-current assets totaled RMB 45,019 thousand as of June 30, 2021, compared to RMB 31,222 thousand at the end of 2020, indicating investment in long-term assets[86]. Future Outlook - The company provided an optimistic outlook for the second half of 2021, projecting revenue growth of BB% driven by new product launches and market expansion initiatives[165]. - New product development efforts are focused on enhancing existing offerings and introducing innovative solutions, with an investment of CC million allocated for R&D in 2021[165]. - The company is exploring strategic acquisitions to bolster its market position, with potential targets identified in the technology sector[165]. - Market expansion plans include entering new geographical regions, aiming for a DD% increase in market share by the end of 2022[165].

艾 德 韋 宣 集 團 控 股 有 限 公 司 ACTIVATION GROUP HOLDINGS LIMITED （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 股 份 代 號 ： 9 9 1 9 2020 年 報 ACTING HO:TAV:TOA 1 2020 年報 目錄 | --- | --- | |-------|----------------------| | | | | 2 | 公司資料 | | 4 | 年度業務案例 | | 9 | 獎項及榮譽 | | 12 | 主席報告 | | 14 | 管理層討論與分析 | | 23 | 五年財務概要 | | 24 | 董事及高級管理層履歷 | | 29 | 企業管治報告 | | 42 | 董事會報告 | | 58 | 環境、社會及管治報告 | | 89 | 獨立核數師報告 | | 94 | 綜合損益表 | | 95 | 綜合全面收益表 | | 96 | 綜合財務狀況表 | | 98 | 綜合權益變動表 | | 100 | 綜合現金流量表 | | 102 | 綜合財務報表附註 | | 182 | 釋義 | 2020 年報2 公司資料 執行董 ...

艾 德 韋 宣 集 團 控 股 有 限 公 司 ACTIVATION GROUP HOLDINGS LIMITED （ 於 開 曼 群 島 註 冊 成 立 的 有 限 公 司 ） 2020 中 期 報 告 ACHARD HOMAVITON 1 2020 中期報告 | --- | --- | |-------|--------------------------| | | | | | | | 目錄 | | | 2 | 公司資料 | | 4 | 管理層討論與分析 | | 12 | 其他資料及企業管治 | | 17 | 中期簡明綜合損益表 | | 18 | 中期簡明綜合全面收益表 | | 19 | 中期簡明綜合財務狀況表 | | 21 | 中期簡明綜合權益變動表 | | 23 | 中期簡明綜合現金流量表 | | 25 | 中期簡明綜合財務資料附註 | | 45 | 釋義 | 2020 中期報告2 公司資料 執行董事 劉錦耀先生（聯席主席兼行政總裁） 伍寶星先生（聯席主席兼運營總監） 陳偉彬先生 劉慧文女士 獨立非執行董事 張少雲女士 余龍軍先生 張華強博士 聯席公司秘書 杜曉舟先生 蘇淑儀女士 授權代表 伍寶星先生 ...

Financial Performance - The group reported a revenue of RMB 661.8 million for the fiscal year 2019, with a significant increase of 65.5% in adjusted profit to RMB 72.0 million compared to the fiscal year 2018[30]. - Shareholders' profit for the fiscal year 2019 was RMB 30 million, reflecting the company's strong performance despite one-time listing expenses[30]. - In the first half of 2019, the adjusted profit of the group showed strong growth, with the overall gross profit margin increasing by 4.7 percentage points to 29.9% compared to 2018[33]. - The gross profit for 2019 was RMB 198.1 million, up from RMB 172.4 million in 2018, resulting in a gross margin increase from 25.2% to 29.9%[49]. - The net profit for 2019 was RMB 40.9 million, down from RMB 43.5 million in 2018, primarily due to one-time listing expenses and restructuring costs totaling RMB 31.1 million[50]. - The adjusted net profit, excluding one-time listing costs, was RMB 72.0 million, representing a significant increase of 65.5% compared to RMB 43.5 million in 2018[50]. - The group's revenue for the year ended December 31, 2019, was RMB 661.774 million, a decrease from RMB 684.335 million in 2018[85]. - The net profit attributable to shareholders for 2019 was RMB 29.969 million, down from RMB 37.114 million in 2018, reflecting a decline of approximately 19.1%[85]. Business Segments - Revenue from the China business reached RMB 626.9 million in 2019, accounting for 94.7% of total revenue, up from 88.5% in 2018[51]. - The revenue from the integrated marketing solutions segment was RMB 616.6 million, a decrease from RMB 645.9 million in 2018, but the segment profit increased to RMB 90.8 million from RMB 78.7 million[52]. - The IP development segment revenue grew by 17.7% to RMB 45.2 million in 2019, contributing to stable growth[52]. - Experience marketing services generated RMB 470.8 million in revenue, accounting for 71.1% of total revenue, down from 75.2% in 2018[55]. - Digital marketing and brand promotion services saw a revenue increase of 2.1% to RMB 110.5 million, with a gross profit margin rising from 30.8% in 2018 to 39.6% in 2019[56]. - Public relations services revenue surged by 53.5% to RMB 35.3 million, with gross profit increasing by 136.4% to RMB 18.2 million[57]. - The IP development segment reported revenue of RMB 45.2 million, a 17.7% increase from RMB 38.4 million in 2018, with a gross profit of RMB 11.0 million[58]. Strategic Initiatives - The group plans to accelerate its digital marketing layout in 2020, investing more resources to enhance service content and depth[36]. - The company aims to promote a comprehensive digital marketing solution across multiple social platforms and enhance its media/influencer platform through the cultivation of fashion influencers and performance management[37]. - The group is actively seeking acquisition and collaboration opportunities to strengthen its market position in the integrated marketing solutions industry in China[39]. - The company plans to establish offices in Hangzhou and Guangzhou to expand its regional coverage and capture opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area[38]. - The group intends to secure exclusive operating rights for more internationally recognized IPs in China to enhance its marketing services and product offerings[39]. - The company aims to accelerate its digital marketing business through acquisitions, targeting marketing automation, big data, and MCN companies[61]. - The company intends to expand its experience marketing business internationally, seeking suitable acquisition targets to enhance competitiveness[62]. - The company will adjust its integrated marketing strategies to attract quality partners and clients, focusing on sports IP development as a new growth opportunity[63]. Corporate Governance - The company has established and implemented comprehensive corporate governance policies and measures, adhering to the principles of integrity, accountability, transparency, independence, responsibility, and fairness[1]. - The company has complied with the requirement to appoint at least three independent non-executive directors, who constitute one-third of the board[109]. - The independent non-executive directors have confirmed their independence in accordance with the guidelines set out in the listing rules[111]. - The company has arranged adequate insurance to protect directors against litigation related to company affairs[108]. - The company’s joint company secretaries are responsible for facilitating board processes and ensuring compliance with applicable rules and regulations[112]. - The company’s board will regularly review the need to appoint different individuals to separate the roles of chairman and CEO to maintain good corporate governance[102]. - The company has a policy for the remuneration of directors based on comparable companies, time commitment, responsibilities, and group performance[107]. - The company has established a corporate governance committee to introduce and review governance principles and policies[125]. Risk Management - The board is responsible for maintaining a sound risk management system and effective internal controls, which are reviewed annually for effectiveness[135]. - The internal control system includes a clear organizational structure with defined responsibilities, and departments are accountable for their operations[136]. - The company has established an internal audit function to independently assess the adequacy and effectiveness of risk management and internal control systems[135]. - The board believes that the current risk management and internal control systems are sufficient and effective, particularly in financial reporting and compliance with listing rules[136]. - The group faces economic and regulatory risks that could significantly impact its performance, particularly in the high-end fashion sector[82]. - Management is committed to monitoring environmental and policy changes to adapt strategies accordingly[82]. Shareholder Information - The company has not purchased, redeemed, or sold any listed securities from the listing date until the date of the annual report[155]. - The company has not entered into any arrangements that would allow directors to benefit from purchasing securities or debentures of the company or other entities during the fiscal year 2019[190]. - The company has implemented appropriate directors and officers liability insurance for its directors and senior management during the fiscal year 2019[197]. - The major shareholders include Aite Investment, Aurora Power, and Chuang Ming Yuan Da, with significant ownership stakes[179][181]. - As of the last practicable date, the company’s directors and senior management hold significant interests in the company, with Mr. Liu holding 19.30% and Mr. Wu holding 14.71% of the shares[177]. Employee Engagement - The group employed approximately 343 staff members as of December 31, 2019, with total director remuneration amounting to RMB 92.3 million[83]. - The group emphasizes the importance of employee engagement and communication to enhance service quality[83]. - The company has a retirement benefits plan for employees in its Chinese subsidiary, requiring contributions based on a percentage of salary[194]. Future Outlook - The marketing solutions service market in Greater China is projected to grow from RMB 8,906 billion in 2018 to approximately RMB 13,848 billion by 2023, with a compound annual growth rate (CAGR) of 9.2%[44]. - The high-end and luxury brand marketing solutions market is expected to expand from RMB 262 billion in 2018 to RMB 397 billion by 2023, with a CAGR of 8.7%[44].