欢喜传媒二零二四年年报

()(Incorporated in Bermuda with limited liability)Stock Code : 1003 CONTENTS 241723295670107122 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 Summary 124126127128236 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 2HUANXI MEDIA GROUP LIMITEDAnnual Report 2024 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 1611 11th Floor, Far East Finance Centre16 Harcourt RoadAdmiralty, Hong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Ocorian Services (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10, Bermuda Ocorian Services (Bermuda) LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM 10, Bermuda HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 18317M Computershare Hong Kong Investor Services Limited17M Floor, Hopewell Centre183 Queen’s Road EastWanchai, Hong Kong 1003 STOCK CODE 1003 WEBSITES www.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com www.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com info@huanxi.com INVESTOR RELATIONS CONTACT info@huanxi.com CHAIRMAN’S STATEMENT Dear Shareholders, I am pleased to report the business results of Huanxi Media GroupLimited (the “Company” or “Huanxi Media”, together with itssubsidiaries, collectively the “Group”) for the past year. Navigating film market challenges with flexibility 2024 was a year for reflection for the Chinese film market. Affectedby macroeconomic growth slowing down, changes in audienceconsumption patterns and the rise of different forms of entertainment,overall box office performance fell short of expectation. According toChina Film Administration data, total box office receipts of films in thePeople’s Republic of China (the “PRC”) last year was RMB42.5 billion,22.6% less when compared with the previous year. Facing a marketenvironment ridden with challenges, the Group carefully assessedmarket situations and flexibly adjusted the pace of releasing films,while maintaining sufficient film and television content reserves, assuch, was able to consolidate its core competitive advantages andprepare itself for the film and TV industry recovery. 42522.6% 2121 The Group’s films released in cinemas during the year includedTheHedgehog (),Caught by the Tides (),Evacuate fromthe 21st Century (21),Strangers When We Meet() andThe Movie Emperor ().The Hedgehog () tells the story of an eccentric elderly man (played by Ge You)and a teenager (played by Karry Wang), who suffers from low self-esteem due to stuttering, becoming close companions despite theirage difference. The film won the Best Screenplay of Golden GobletAward at the Shanghai International Film Festival.Caught by the Tides(), directed by Jia Zhangke, presents scenes that captureeveryday life from the 1980s to the end of the COVID-19 pandemic,and was selected for Special Presentation at the Toronto InternationalFilm Festival.Evacuate from the 21st Century (21),directed by Li Yang and starring Zhang Ruoyun and Zhong Chuxi, isthe story of three teenagers who could travel 20 years back and forthin time, setting out to save the world on the brink of disaster. The filmcombines elements of youth, adventure, and science fiction, bringingout to the full the fiery passion of teenagers. Also sparking widespreaddiscussion was the work of director Zhang GuoliStrangers When WeMeet () that features a man, released after serving morethan 20 years in prison, who married a young woman also fresh outof prison so he could have a child. The unconventional plot shinesthanks to the explosive performances