The Chairman and Chief Executive Officer of Phoenix Media Investment (Holdings) Limited (the "Company" and its subsidiaries, collectively the "Group" or "Phoenix"), Mr. XU Wei, said today that revenue of the Group for the six months period ended 30 June 2022 (the "Period") was approximately HK$1,490,072,000, which represented an increase of 7.4% in comparison with the same period last year. The operating loss of the Group for the Period was increased to approximately HK$365,246,000, which represented an increase of 21.9% over the same period last year. The loss attributable to owners of the Company was approximately HK$330,508,000, in comparison with approximately HK$245,175,000 for the same period last year.
At present, coupled with the once-in-a-century change in the world and global pandemic against the backdrop of an era of world multi-polarisation and cultural diversification, international communication is becoming increasingly important. In the future, Phoenix will persist in the philosophy of openness and inclusiveness, adhere to and deepen its core competitiveness in contents, and fully leverage on the Group's credibility, communication strength and influence, so as to promote Chinese culture more effectively from a global perspective, and to present to the world a true, stereoscopic and comprehensive China and fulfill the expectations of our stakeholders.
RESULTS
The revenue of the Group for the Period was approximately HK$1,490,072,000 (six months ended 30 June 2021: HK$1,386,962,000), which represented an increase of 7.4% in comparison with the same period last year. The operating costs for the Period have increased by 10.0% to approximately HK$1,855,318,000 (six months ended 30 June 2021: HK$1,686,613,000).
The operating loss of the Group for the Period was increased to approximately HK$365,246,000 (six months ended 30 June 2021: HK$299,651,000), which represented an increase of 21.9% over the same period last year. The major reason for this increase in operating loss was due to our internet media business.
The net exchange loss of the Group for the Period was approximately HK$68,796,000 (six months ended 30 June 2021: gain of HK$29,659,000) mainly resulting from the depreciation of Renminbi against Hong Kong dollars.
The loss attributable to owners of the Company was approximately HK$330,508,000, in comparison with approximately HK$245,175,000 for the same period last year.
The chart below summarises the performance of the Group for the six months ended 30 June 2022 and the same period in 2021 respectively.
COMMENTS ON SEGMENTAL INFORMATION
Revenue from television broadcasting, comprising advertising, subscription and other revenue sources, which accounted for 37.4% of the total revenue of the Group for the Period, increased by 73.3% to approximately HK$557,995,000 (six months ended 30 June 2021: HK$321,985,000), the segmental loss for television broadcasting business was approximately HK$64,164,000 for the Period (six months ended 30 June 2021: HK$107,616,000).
Revenue from Phoenix Chinese Channel and Phoenix InfoNews Channel, which accounted for 23.3% of the total revenue of the Group for the Period, increased by 22.5% to approximately HK$347,447,000 (six months ended 30 June 2021: HK$283,527,000).
The total revenue of Phoenix Hong Kong Channel, Phoenix Movies Channel, Phoenix North America Chinese Channel, Phoenix Chinese News and Entertainment Channel, integrated media operating platform and others increased by 447.5% to approximately HK$210,548,000 (six months ended 30 June 2021: HK$38,458,000).
The revenue of the internet media business for the Period decreased by 22.8% to approximately HK$453,830,000 (six months ended 30 June 2021: HK$587,771,000). The segmental loss of the internet media business for the Period was approximately HK$275,402,000 (six months ended 30 June 2021: HK$42,663,000). The main reasons for this reduction in advertising revenue include the intensified industry-wide competition and the negative impact of the COVID-19 outbreak in certain regions in China in the Period.
The revenue of the outdoor media business for the Period increased by 0.8% to approximately HK$381,642,000 (six months ended 30 June 2021: HK$378,490,000). The segmental profit of outdoor media business for the Period decreased by 31.3% to approximately HK$50,205,000 (six months ended 30 June 2021: HK$73,059,000).
The segmental profit of the real estate business for the Period was approximately HK$14,013,000 (six months ended 30 June 2021: loss of HK$1,379,000).
BUSINESS OVERVIEW AND PROSPECTS
In the first half of 2022, Phoenix intensified the pace of its business transformation and innovation by adopting multiple strategic measures, and has shown a continuing positive trend in its operating performance. Mr. Xu Wei, the Chairman of the Board and Chief Executive Officer, emphasises that the brand recognition, credibility and international influence of Phoenix must be demonstrated continuously, and Phoenix shall "focus on its core media business, focus on the international market, focus on innovation and focus on talents". It shall firmly establish a strong base in Hong Kong positioning to target the Chinese communities in Hong Kong, Macau, Taiwan and around the globe, with an aim of building an international first-class Chinese media group.
Phoenix delivered first-hand news to Chinese audiences all over the world, demonstrating its media professionalism. The global team of Phoenix focused and broadcasted live reports on various important domestic and foreign news events such as China-Russia Presidents' Talks, China-U.S. Presidents' video conference, BRICS Summit, Davos Forum, French Presidential Election, PRC government aiding Hong Kong in fighting the fifth wave of COVID-19, North Korea Parade, and Russia Parade. At the same time, upholding the spirit of "being on the spot at major events", several reporters were sent deep into the battlefront of Ukraine to perform news coverage after the outbreak of Russia-Ukraine War. Moreover, as an international Chinese media based in Hong Kong, Phoenix fully utilised the advantage of its geographical location, and had in-depth comprehensive reporting on major events in Hong Kong such as Hong Kong Chief Executive Election, and the Celebration of 25th Anniversary of Hong Kong's Return to the Motherland.
Phoenix implemented new revampification of its programmes by emphasising on its news professionalism and strengthening its news live broadcast. Programmes like Phoenix Morning Express, Phoenix Midday Express, Phoenix Evening Express, and Phoenix Midnight Express focused on around-the-clock news-updates and breaking news, with their presentation, packaging and visual effects more in line with the positioning as an international media. Phoenix Hong Kong Channel enhanced Cantonese broadcasts to serve Hong Kong and Cantonese-speaking audiences in other regions and rendered Hong Kong's local affairs and entertainment news as two main focuses, which opened up a new broadcasting landscape. Phoenix also newly launched programmes such as Zoom In, Asian Financial Insight, China Insight, The Great Era, Fact Check on News, Top View and Bench Talk About Taiwan, showcasing a series of in-depth and thoughtful programmes, which greatly enriched its international broadcast content using the audiovisual narrative style, whereby winning praises from the Chinese audiences and increasing viewership significantly.
Phoenix continues to enhance its broadcast efforts and international influence. It extends its coverage worldwide through various channels such as satellites, cable TV networks, mobile internet, Internet Protocol Television (IPTV) and over-the-top (OTT) platforms, social media and content distribution platforms, and expands its international broadcasting network with "Internet Thinking" and "Mobile-First" broadcasting ideas. In the first half of 2022, the official account of "Phoenix" on various social media platforms has been upgraded, with development of a new information social brand "Phoenix TV News (鳳凰資訊)" and introduction of a new Cantonese integrated media brand "HKV", thus establishing a three-dimensional, diverse and integrated Chinese-language media matrix.
Moreover, Phoenix undertakes media responsibilities in the international communication practice by establishing extensive strategic cooperation with various international organisations and institutions, such as The United Nations Educational, Scientific and Cultural Organisation (UNESCO), The United Nations Development Programme (UNDP) and The World Wide Fund for Nature (WWF), in order to build a platform for cultural exchange between China and the world, and co-organised the "2022 Earth Hour" to enhance its affinity and influence in international communication via the respective global, regional and demassified ways.
During the reporting period, Phoenix continued to enhance its brand value, and has been consecutively listed as Asia's 500 Most Influential Brands for several years and continued to be rated as Top 4 TV brands in Asia, which reflected its publicity and reputation in fields like media and culture. With its international and high-quality production standards, Phoenix's programmes garnered numerous international awards. At the 2022 New York Festivals International TV & Films Awards, Aerial HK (Night Version) won the gold prize in Film/Production: Technical Production Team Category; and When the World was Young - Chinese in the International Column won the silver prize in Documentary, which demonstrated Phoenix's outstanding strengths and professionalism.
For more information, please visit https://doc.irasia.com/listco/hk/phoenixtv/interim/2022/intpress.pdf.
| © Copyright 1996-2023 irasia.com Ltd. All rights reserved. |
|
DISCLAIMER: irasia.com Ltd makes no guarantee as to the accuracy or completeness of any
information provided on this website. Under no circumstances shall irasia.com Ltd be liable
for damages resulting from the use of the information provided on this website.
TRADEMARK & COPYRIGHT: All intellectual property rights subsisting in the contents of this website belong to irasia.com Ltd or have been lawfully licensed to irasia.com Ltd for use on this website. All rights under applicable laws are hereby reserved. Reproduction of this website in whole or in part without the express written permission of irasia.com Ltd is strictly prohibited. TERMS OF USE: Please read the Terms of Use governing the use of our website. |