UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 20-F ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission File Number: 000-30540 ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITI ...

Core Viewpoint - GigaMedia Limited reported a significant decline in revenues for 2024, primarily due to a slowdown in licensed games, but managed to reduce its net loss compared to the previous year [2][3][9]. Financial Performance - For the full year 2024, GigaMedia's revenues were $3.0 million, down 30.8% from $4.3 million in 2023 [2][7]. - Gross profit for 2024 was $1.5 million, a decrease of 39.7% from $2.4 million in 2023 [7]. - The operating loss for 2024 was $3.7 million, compared to a loss of $3.2 million in 2023 [9]. - The net loss attributable to GigaMedia for 2024 was $2.3 million, improved from a net loss of $3.4 million in 2023 [3][9]. - The net loss per share for 2024 was $0.21, compared to $0.31 in the previous year [7][9]. Quarterly Overview - In Q4 2024, revenues were $755,000, a slight decrease of 1.8% from Q3 2024 and a 13.2% decline year-over-year [11][18]. - The gross profit for Q4 2024 was $398,000, up 7.0% from Q3 2024 but down 21.0% from Q4 2023 [11][18]. - The operating loss for Q4 2024 was $531,000, reduced from a loss of $1.0 million in Q3 2024 [11][18]. - The net loss for Q4 2024 was $481,000, an increase from a net loss of $320,000 in Q3 2024 [11][18]. Balance Sheet and Cash Position - As of the end of 2024, GigaMedia had cash, cash equivalents, and restricted cash totaling $35.1 million, down 9.5% from $38.8 million at the end of 2023 [4][10]. - The company maintained a solid financial position with zero bank loans and shareholders' equity of approximately $40.8 million [13]. Business Strategy and Outlook - GigaMedia is focusing on developing AI-based applications to enhance productivity and explore commercialization opportunities [15][16]. - The company plans to pursue mergers and acquisitions to accelerate growth and enhance shareholder value [16].

Core Viewpoint - GigaMedia Limited has entered into an agreement to purchase a convertible promissory note from Aeolus Robotics Corporation, indicating a strategic partnership between the two companies [1][3]. Group 1: Investment Details - GigaMedia is purchasing a convertible promissory note with a principal amount of US$2,600,000 from Aeolus Robotics [1]. - The note carries an interest rate of 4.5% per annum and is due in 36 months [2]. - The principal amount may be convertible into ordinary shares of Aeolus at a price of US$0.02 per share under certain conditions [2]. Group 2: Strategic Relationship - The transaction reflects a mutual commitment to a longer-term strategic relationship between GigaMedia and Aeolus [3]. - GigaMedia is open to reviewing its investment alternatives and may consider additional transactions involving Aeolus's securities [3]. Group 3: Company Background - GigaMedia Limited is headquartered in Taipei, Taiwan, and operates as a diversified provider of digital entertainment services in Taiwan and Hong Kong [4]. - The company is recognized as an innovative leader in the digital entertainment sector in Asia, focusing on mobile and casual games [4].

TAIPEI, Oct. 30, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its thirdquarter 2024 unaudited financial results. Comments from Management In the third quarter of 2024, GigaMedia reported revenues of $0.77 million, with a gross profit of $0.37 million, an operating loss of $1.01 million and a net loss of $0.32 million. If compared to last quarter, the total revenues increased by 6.7% and gross profit by 3.3% , while gross profit margin at 48.4% was slightly lower than 49.9% last quar ...

TAIPEI, July 31, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its second-quarter 2024 unaudited financial results.Comments from ManagementIn the second quarter of 2024, GigaMedia reported revenues of $0.72 million, with a gross profit $0.36 million, an operating loss of $1.05 million and the net loss of $0.61 million.While the revenues were comparable to those in the first quarter 2024, both our gross profit and loss from operations were improved, and the net loss was slashed by $0. ...

TAIPEI, June 27, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM), a digital entertainment services provider, wishes to announce that at the Annual General Meeting ("AGM") of the Company held on 27 June 2024, all resolutions relating to the matters set out in the Notice of AGM dated 31 May 2024 were duly passed. Poll Results The results of the poll in respect of each of the resolutions put to vote at the AGM, as confirmed by scrutineer for the poll at the AGM, are as follow: Resolution 1 – Adoption of ...

Core Points - The 25th Annual General Meeting of GigaMedia Limited is scheduled for June 27, 2024, in Taipei, Taiwan [1] - The meeting will address several ordinary resolutions including the adoption of audited financial statements, appointment of auditors, and approval of directors' remuneration [2][3] Ordinary Resolutions - The company seeks to adopt the audited financial statements for the financial year ended December 31, 2023, which requires a majority vote from shareholders [17] - Approval is sought for the appointment of Deloitte & Touche and Deloitte & Touche LLP as independent external auditors until the next Annual General Meeting, with the authority to fix their remuneration for the financial year ended December 31, 2024 [18] - The remuneration for all directors is proposed to be approved in an aggregate amount not exceeding US$350,000 until the conclusion of the next Annual General Meeting [19][20] - Authority is requested for the directors to allot and issue shares, effective until the next Annual General Meeting [21][22] - A Share Purchase Mandate is proposed to allow the company to purchase or acquire its shares, which aims to enhance shareholder value and provide flexibility in capital management [23][24][25]

Revenue Performance - Revenues from MahJong and other casual games were approximately US$1.1 million in 2023, a decrease from US$1.3 million in 2022 and US$1.5 million in 2021[97]. - Revenues generated from the online sports game Tales Runner were approximately US$2.7 million in 2023, down from US$3.4 million in 2022 but up from US$2.4 million in 2021[98]. - Accumulated sales revenues of the mobile role-playing game Yume100 reached approximately US$12.8 million as of December 31, 2023[100]. - Total operating revenues for 2023 were approximately US$4.3 million, a decrease of approximately US$1.3 million year-over-year[148]. - Operating revenues for 2023 were $4,292 thousand, a decrease of 23.2% from $5,585 thousand in 2022[164]. - Revenues from mobile games declined to $400 thousand in 2023 from $800 thousand in 2022, reflecting a broader trend of reduced online engagement post-COVID[165]. - The company collected $4.0 million in cash from customers in 2023, down from $6.5 million in 2022[179]. Financial Performance - The operating loss for 2023 was approximately US$3.2 million, an increase of US$0.1 million compared to the previous year[148]. - Net loss attributable to shareholders was approximately US$3.4 million, an increase of US$0.6 million year-over-year[148]. - GigaMedia's shareholders' equity decreased to US$43.5 million in 2023 from US$48.6 million in 2022[146]. - The company recorded approximately 33,000 active paying users, with an average revenue per paying user (ARPPU) ranging from approximately $40 to $100 for different services[120]. - The company incurred $0.7 million in research and development activities in 2023, down from $1.1 million in 2022 and $1.4 million in 2021[189]. - The net cash used in operating activities for 2023 was approximately $1,193 thousand, a decrease from $2,509 thousand in 2022[179]. - Cash, cash equivalents, and restricted cash at the end of 2023 totaled $38,783 thousand, down from $39,107 thousand at the end of 2022[179]. - The company has zero bank borrowing as of December 31, 2023, and expects to secure lines of credit for operational and strategic needs[176]. Market Strategy and Operations - The company intends to enhance its market position by focusing on mobile and browser-based entertainment services and expects to drive growth through organic means and accretive transactions[92]. - FunTown operates under an item-billing revenue model, allowing users to access basic game functions for free while offering in-game purchases[91]. - FunTown's marketing strategy includes in-game events, online advertising, and offline promotions to attract and retain users[107]. - The company collaborates with leading game development studios to source new online games and localize them for target markets[104]. - The company is transitioning its game portfolio from PC-based formats to browser and mobile platforms to meet changing market demands[190]. Regulatory and Compliance - The company operates under various regulations in Taiwan, including the Protection of Children and Youths Welfare and Rights Act, which governs internet content ratings[127]. - The company has not made any material changes in the accounting methodology used to evaluate investment in securities as of December 31, 2023 and 2022[197]. - The company adopted a written compensation recovery policy on October 30, 2023, in compliance with SEC rules[216]. Shareholder Information - Major shareholders include John-Lee Andre Koo with 2,159,999 shares (19.54%), and James Cheng-Ming Huang with 1,073,566 shares (9.71%) as of March 31, 2024[231]. - The total outstanding shares as of March 31, 2024, were 11,052,235, with 54.44% (6,017,090 shares) not held by major shareholders[234]. - The aggregate cash compensation paid to directors and executive officers for the year ended December 31, 2023, was approximately US$0.5 million[210]. - The company has a total of 4,000 ordinary shares underlying outstanding options granted to directors and executive officers, with an exercise price of $2.90 per share[211]. Employment and Organizational Structure - As of December 31, 2023, the total number of full-time employees decreased to 96 from 101 in 2022, representing a decline of approximately 4.95%[222][224]. - The company has a significant organizational structure with wholly owned subsidiaries operating in Taiwan, Hong Kong, and the British Virgin Islands[140]. - The board of directors currently comprises six members, including one female director and five independent non-executive members[217]. Taxation and Financial Implications - The company is likely classified as a Passive Foreign Investment Company (PFIC) for the taxable year ended December 31, 2023, due to a significant amount of cash and the price of its shares[267]. - If classified as a PFIC, shareholders may face special tax rules on excess distributions and gains realized on the sale of shares, which could result in ordinary income taxation[268]. - The company does not impose taxes on capital gains, but gains on share disposals may be treated as income if connected to trade or business activities in Singapore[255]. - U.S. persons holding shares may be required to file IRS Form 8938 if the aggregate value of specified foreign financial assets exceeds $50,000[278].

TAIPEI, March 29, 2024 /PRNewswire/ -- GigaMedia Limited (NASDAQ: GIGM) today announced its unaudited financial results for the fourth quarter and full year of 2023. Highlights For 2023, GigaMedia reported revenues of $4.3 million, with a gross profit of $2.4 million, an operating loss of $3.2 million and the net loss of $3.5 million. The revenues decreased by 23.2% in 2023. During 2023, we terminated a non-performing game while streamlined others, and correspondingly scaled back related workforce, costs an ...

Exhibit 99.1 FOR IMMEDIATE RELEASE For further information contact: Investor Relations Department Country/City Code 8862 Tel: 2656-8096 IR@gigamedia.com.tw GigaMedia Announces Third-Quarter 2023 Financial Results TAIPEI, Taiwan, October 31, 2023 – GigaMedia Limited (NASDAQ: GIGM) today announced its thirdquarter 2023 unaudited financial results. Comments from Management In the third quarter of 2023, GigaMedia reported revenues of $1.07 million, with a gross profit of $0.58 million, an operating loss of $0.8 ...