律齐文化2023年报

(formerly known as Kingkey Intelligence Culture Holdings Limited) (Incorporated in the Cayman Islands and continued in Bermuda with limited liability) (Stock Code550) Contents Directors’ Statement Dear Shareholders, I hereby present you with the 2023 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 2023 (“FY2023”). REVIEW 32.9%36,300,000Recruit2.0% In 2023, the Group’s overall revenue declined by approximately32.9% to HK$36.3 million, primarily due to significant reductionsin sales of medical and health products and e-commerce segment.Revenue from the core advertising services, delivered mainly throughRecruit Magazine, experienced a slight decrease of about 2.0%. During the year, the Group faced internal challenges related to thetransition between the former and current management, whichaffected certain business segments. Despite these internal issues,the Group maintained focus on stabilizing operations and restoringnormal business functions. 36,200,0008,700,000300% The Group recorded a loss before income tax of approximatelyHK$36.2 million for 2023, representing a significant increase of over300% compared to the loss before income tax of approximatelyHK$8.7 million in 2022. 3.2% On the macroeconomic front, Hong Kong lifted counter-epidemicmeasures and resumed normal travel arrangements with MainlandChina in 2023, marking a positive phase of post-pandemic recovery.Hong Kong’s GDP grew by 3.2% for the year, reflecting renewedmomentum across key sectors. However, global economic volatilitypersisted due to inflationary pressures, geopolitical tensions in regionssuch as Gaza and Israel, and the ongoing conflict in Ukraine, whichcontinued to weigh on the broader economic outlook. In summary, the Group encountered a difficult year, impacted byboth external economic factors and internal transitional challenges.Nevertheless, the Group remains committed to its corporate missionof focusing on its core advertising business and has taken significantsteps to strengthen internal controls and governance to supportsustainable growth going forward. 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 the demand for recruitmentadvertising services. Building on its strong track record of organizingjob fairs and promotional events in Hong Kong, the Group plansto expand its business in provision of promotional services intoMainland China. The establishment of an in-house production teamin Mainland China is aimed at enhancing cost efficiency and qualitythrough vertical integration of event-related production. Additionally,the newly recruited project management personnel with extensiveexperience is expected to reinforces the Group’s capability to executelarge-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 design expertise to delivercomprehensive advertising solutions. The Group’s flagship publication,Recruit Magazine, being a prominent physical publication focusedon the employment sector, alongsideLike Magazine, a lifestyle andleisure-focused online platform, provide a diversified multi-channelpresence across print, web, app, and social media – includingFacebook, Instagram, and Rednote. These platforms serve as effectivecomplementary channels for advertisers targeting digitally savvyaudiences. Continued investment in content creation and platformoptimization will be essential to driving traffic growth and enhancingprofitability of the Group. While acknowledging past disruptions in non-core segments, theGroup is now entering into a promising phase of transformation andgrowth centred on its core advertising business. Under the dedicatedleadership of current management of the Group, significant progresshas been made toward restoring normal operations and resumingtrading on the Stock Exchange. Supported by a solid financialfoundation, experienced team, and diversified business model, theGroup is confident in delivering sustainable value and enhancedreturns to its shareholders. Directors’ Statement Finally, the Board is sincerely thankful to all stakeholders, our diligentemployees for their efforts, supportive shareholders for their trust,and loyal readers and users for their affirmation and backing. Whilewe constantly strive for a better future, we also wish you all the bestof luck. Yiu Sze WaiExecutive Director Hong Kong, 6 August 2025 Management Discussion and Analysis管理層討論與分析 BUSINE