欢喜传媒集团有限公司2025年年报

()(Incorporated in Bermuda with limited liability)Stock Code : 1003 CONTENTS 241723295677129145 Corporate InformationChief Executive Officer’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 147149150151268 CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Xiang Shaokun, Steven(Chief Executive Officer)Ms. Hu Hui(appointed on 27 July 2025)Mr. Dong Ping(Chairman) (resigned on 27 July 2025) Non-Executive Directors Mr. Ning HaoMr. Xu ZhengMs. Li Ni(resigned on 15 September 2025) 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)Ms. Hu Hui(appointed on 27 July 2025)Mr. Li XiaolongMr. Dong Ping(resigned on 27 July 2025) NOMINATION COMMITTEE Mr. Wang Hong(Chairman)Ms. Hu Hui(appointed on 27 July 2025)Mr. Li XiaolongMr. Dong Ping(resigned on 27 July 2025) 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 LawLCH Lawyers 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 www.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com WEBSITESwww.huanxi.comwww.irasia.com/listco/hk/huanximediawww.huanximedia.com info@huanxi.com INVESTOR RELATIONS CONTACT info@huanxi.com CHIEF EXECUTIVE OFFICER’S STATEMENT Dear Shareholders, I am pleased to report the annual results of Huanxi Media GroupLimited (the “Company” or “Huanxi Media”, together with itssubsidiaries, collectively the “Group”) for the year ended 31 December2025. Stable Film and Television Operations DeliveringPremium Content Despite the film market in China (the “PRC”) witnessing year-on-yeargrowth in total box office receipts in 2025, box office receipts wereheavily skewed towards a few blockbuster films. Amid this challengingmarket environment, the Group closely assessed market conditions,flexibly adjusted its film release schedule, explored the applicationof artificial intelligence (“AI”) in the film and television industry, andactively enhanced operational efficiency to address uncertaintiescaused by market fluctuations. AI • The two films released by the Group in cinemas during the yearincludedShe’s Got No Name (•), directed by Chan Ho SunPeter, starred Zhang Ziyi and Lei Jiayin, and was based on one of thefour most sensational cases in the Republic of China era. It becameone of the most talked-about titles during the 2025 summer movieseason; andThe Stage (), written and directed by Chen Peisi, andstarred Huang Bo, Chen Peisi, and others. Adopting a “play within aplay” structure, the film interweaves stage performances with thevaried facets of life beyond the stage, unfolding with exquisite comedicrhythm to probe reality amid laughter while blending operatic charmwith dramatic tension, making it a notable comedy masterpiece. CHIEF EXECUTIVE OFFICER’S STATEMENT Regarding the online video platform, the Group continued to enrichthe content of “huanxi.com” by introducing outstanding films fromvarious countries and regions. These includedEiffel (),which received three nominations at the French film César Awardsand portrays the history of the world-famous architectural landmarkand the legendary life of its architect, Gustave Eiffel;My Brothers andI (), which premiered in the Un Certain Regard sectionat the Cannes Film Festival and was nominated for Golden Camera,telling the story of a teenager who loves Italian opera and pursues hisdream;Incredible But True (), another imaginativework by the talented French film director Quentin Dupieux, which wasselected for a special scre