欢喜传媒二零二三年年报

CONTENTS Corporate InformationChairman’s StatementManagement Discussion and AnalysisBiographical Details of DirectorsDirectors’ ReportCorporate Governance ReportEnvironmental, Social and Governance ReportIndependent Auditor’s ReportAudited Financial StatementsConsolidated Statement of Profit or Loss andOther Comprehensive IncomeConsolidated Statement of Financial PositionConsolidated Statement of Changes in EquityConsolidated Statement of Cash FlowsNotes to the Consolidated Financial StatementsFinancial Summary241723295670107122124126127128240 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Dong Ping(Chairman)Mr. Xiang Shaokun, Steven(Chief Executive Officer) Non-Executive Directors Mr. Ning HaoMr. Xu ZhengMs. Li Ni Independent Non-Executive Directors Mr. Wong Tak ChuenMr. Li XiaolongMr. Wang Hong AUDIT COMMITTEE Mr. Wong Tak Chuen(Chairman)Mr. Li XiaolongMr. Wang Hong REMUNERATION COMMITTEE Mr. Wang Hong(Chairman)Mr. Dong PingMr. Li Xiaolong NOMINATION COMMITTEE Mr. Wang Hong(Chairman)Mr. Dong PingMr. Li Xiaolong COMPANY SECRETARY Mr. Choi Wing Koon INDEPENDENT AUDITOR PricewaterhouseCoopersCertified Public AccountantsRegistered Public Interest Entity Auditor PRINCIPAL BANKERS Bank of Communications Co., Ltd.China Construction Bank CorporationDBS Bank (Hong Kong) Limited LEGAL ADVISERS TO THE COMPANY As to Hong Kong LawWeil, Gotshal & Manges LLP As to Bermuda LawAppleby REGISTERED OFFICE Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10, Bermuda Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10, Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 11th Floor, Far East Finance Centre16 Harcourt RoadAdmiralty, Hong Kong 1611 PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE MUFG Fund Services (Bermuda) Limited4th Floor NorthCedar House41 Cedar AvenueHamilton HM 12, Bermuda MUFG Fund Services (Bermuda) Limited4th Floor NorthCedar House41 Cedar AvenueHamilton HM 12, Bermuda HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 18317M Computershare Hong Kong Investor Services Limited17M Floor, Hopewell Centre183 Queen’s Road EastWanchai, Hong Kong STOCK CODE 1003 1003 WEBSITES www.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com www.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com INVESTOR RELATIONS CONTACT info@huanxi.com info@huanxi.com CHAIRMAN’S STATEMENT Dear Shareholders, I am pleased to report the outstanding business results of HuanxiMedia Group Limited (the “Company” or “Huanxi Media”, togetherwith its subsidiaries, collectively the “Group”) for the past year. ThemovieFull River Red (), which was released during the ChineseNew Year holiday in 2023, had total box office receipts of more thanRMB4.5 billion and was the highest grossing Chinese film in 2023. 45 Box office and critical success 530 According to the data released by the China Film Administration, thetotal box office receipts of films in the People’s Republic of China (the“PRC”) in 2023 exceeded RMB53 billion, a sharp increase of morethan 80% compared with the previous year, reflecting the vibrancy ofChina’s film industry after the lifting of the anti-epidemic policy. Thecontinuous release of quality films has led to a strong recovery of thefilm market. Seeing an opportunity in the recovery of market demand, the GroupreleasedFull River Red (), which was invested in and leadproduced by the Group, in the first peak season after the lifting ofthe anti-epidemic policy.Full River Red (), directed by ZhangYimou, makes use of the courtyard houses and narrow alleys of theancient county town of Taiyuan and the interplay of light and shadowto create a tense atmosphere. Against the backdrop of a mysteriouscase, it tells the story of a group of righteous men who fight againstevil during the Southern Song Dynasty. The film is well-paced, withhumor provided by characters with different mindsets, such as ShenTeng as a soldier of no rank, Jackson Yee as the deputy commander ofthe guard battalion, and Zhang Yi as the general manager of the grandchancellor’s office; winning bursts of laughter from audiences. Thefilm topped the box office charts during the Chinese New Year holidaywith total box office receipts of RMB4.54 billion. It also became thehighest-grossing suspense film in Chinese film history and ranked firston China’s 2023 box office charts. 45.4 The Group’s summer holiday release ofPapa (), produced by andstarring Huang Bo, written and directed by Su Liang, stars Huang Boand Shan Yuhao as father and son respectively, who embark on aninteresting journey in the process of applying for primary school. Theheartwarming scenes pay homage to the common growth of parentsand their children. At the same time, amid the laughter, the filmaddresses real-life educational issues such as admission interviews,extracurricular tutoring, and interest classes, which evoke passionateopinions from audiences. In the fourth quarter, the Group released