律齐文化2024年报

(Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (Stock Code550) 2024ANNUALREPORT Contents Directors’ Statement2Management Discussion and AnalysisBusiness Review5Prospects7Financial Review9Financial Key Performance12Liquidity and Financial Resources12Directors and Senior Management Profile21Directors’ Report24Corporate Governance Report37Independent Auditor’s Report63Consolidated Statement of Profit or Loss andOther Comprehensive Income69Consolidated Statement of Financial Position71Consolidated Statement of Changes in Equity73Consolidated Statement of Cash Flows75Notes to the Consolidated Financial Statements77Financial Summary185Corporate Information186 Directors’ Statement Dear Shareholders, I hereby present you with the 2024 Annual Report of Allegro CultureLimited (formerly known as Kingkey Intelligence Culture HoldingsLimited (the “Company”)) and its subsidiaries (collectively the“Group”) for the year ended 31 December 2024 (“FY2024”). REVIEW 13.3%31,500,0003.0% In 2024, the Group’s overall revenue decreased by approximately13.3% to HK$31.5 million, mainly due to the cessation of revenuefrom non-advertising segments, particularly the e-commerce segment.Revenue from the core advertising services recorded a slight decreaseof approximately 3.0% compared to 2023, reaffirming the advertisingsegment as the Group’s primary revenue driver. 12,500,00036,200,00065.5% The Group recorded a loss before income tax of approximatelyHK$12.5 million in 2024, representing an improvement ofapproximately 65.5% compared to the loss before income tax ofapproximately HK$36.2 million in 2023. This reduction reflects theGroup’s ongoing efforts to streamline its operations and focus on itscore business amid a period of restructuring. From a macroeconomic perspective, the business environment in2024, particularly in Hong Kong, was marked by gradual post-pandemic economic recovery. The city benefited from relaxedtravel restrictions and improving consumer confidence. However,uncertainties persisted due to ongoing global inflationary pressures,geopolitical tensions, and supply chain disruptions, which continuedto affect overall market sentiment. The Group will remain vigilant inmonitoring these developments to adapt its strategies accordingly. To conclude, despite the external environment remainingchallenging, the Group maintained its focus on the core advertisingbusiness, expanded its presence in Mainland China, advanced itsdigital initiatives within the region, and upheld its commitment tooperational stability and long-term sustainable growth. Directors’ Statement董事會致辭 PROSPECT Looking ahead, the Group remains committed to strengthening itscore advertising business while selectively pursuing strategic growthopportunities in Hong Kong and Mainland China. The post-pandemiceconomic recovery in Hong Kong, coupled with improving labormarket conditions, is expected to boost demand for recruitmentadvertising services. Building on its strong track record of organizingjob fairs and promotional events in Hong Kong, the Group plansto expand its promotional services into Mainland China. Theestablishment of an in-house production team in Mainland Chinais aimed at enhancing cost efficiency and quality through verticalintegration of event-related production. Additionally, the appointmentof experienced project management personnel reinforces the Group’scapability to execute large-scale projects and events in the region. RecruitLike MagazineFacebookInstagram The Group has further broadened its presence in Mainland China byleveraging popular digital platforms like Douyin via partnerships withauthorized agents, complemented by its in-house design expertiseto deliver comprehensive advertising solutions. The Group’s flagshippublication,Recruit Magazine, a prominent physical publicationfocused on the employment sector, alongsideLike Magazine, alifestyle and leisure-focused online platform, provide a diversifiedmulti-channel presence across print, web, app, and social media –including Facebook, Instagram, and Rednote. These platforms serveas effective complementary channels for advertisers targeting digitallysavvy audiences. Continued investment in content creation andplatform optimization will be essential to driving traffic growth andenhancing profitability. While acknowledging past disruptions in non-core segments, theGroup is now entering a promising phase of transformation andgrowth centred on its core advertising business. Under the dedicatedleadership of current management, significant progress has beenmade toward restoring normal operations and resuming tradingon the Stock Exchange. Supported by a solid financial foundation,experienced team, and diversified business model, the Group isconfident in delivering sustainable value and enhanced returns to itsshareholders. Directors’ Statement Finally, on behalf of the Board, we are sincerely thankful to allstakeholders, our diligent employees f