WEB NEWS Comments & Business Outlook
Consolidated income statements
(Expressed in Hong Kong dollars)
Note
Year ended
December 31,
2015
Sixteen months
ended
December 31,
2014
Four months
ended
December 31,
2014
Twelve months
ended
August 31,
2014
Year ended
August 31,
2013
(Note 1) (Note 1) (Note 1)
(Unaudited) (Unaudited)
Turnover
3 112,810 23,027 21,636 1,391 7,802
Programme costs
4 (320,740 ) (27,414 ) (26,854 ) (560 ) (15,706 )
Cost of inventories
(23,113 ) (353 ) (353 ) — —
Valuation gains on investment properties
14 11,900 3,900 2,100 1,800 43,400
Other operating expenses
5(a) (329,816 ) (343,799 ) (98,218 ) (245,581 ) (201,514 )
Other income, net
5(b) 67,537 147,609 29,907 117,702 128,909
Finance costs, net
5(c) (3,234 ) (7,767 ) (2,016 ) (5,751 ) (4,860 )
Impairment losses/ write off of assets
6 (327,810 ) (32,000 ) — (32,000 ) —
Loss before taxation
(812,466 ) (236,797 ) (73,798 ) (162,999 ) (41,969 )
Income tax (expense)/credit
7 (93 ) (205 ) (60 ) (145 ) 1,659
Loss for the year/period
(812,559 ) (237,002 ) (73,858 ) (163,144 ) (40,310 )
Basic and diluted loss per ordinary share (in Hong Kong dollars)
10 HK$ (1.00 ) HK$ (0.29 ) HK$ (0.09 ) HK$ (0.20 ) HK$ (0.05 )
Company Rebuttal
This announcement is made by Hong Kong Television Network Limited (the Company) at the request of The Stock Exchange of Hong Kong Limited (the Stock Exchange ).
The board of directors (the Board ) of the Company has noted today's increase in the price of the shares and the trade volume of the Company. Having made such enquiry with respect to the Company as is reasonable in the circumstances, the Board confirms that it is not aware of any reasons for these price and/or volume movements or of any information which must be announced to avoid a false market in the Company's securities or of any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance.
Reference is made to the Company's announcement dated 3 November 2014, the Company through Hong Kong Media Production Company Limited, the wholly-owned subsidiary of the Company, entered into the licence agreement with Shenzhen Tencent Computer Systems Co., Ltd (Tencent ) regarding the grant of the exclusive right to exploit of its Cantonese dramas through Tencent's Internet Video Platform in the People's Republic of China. The Company continues to explore different options to develop its multimedia production and distribution and other multimedia related business including the development of its TV shopping and Internet online shopping platforms.
This announcement is made by the order of the Company. The Board collectively and individually accepts responsibility for the accuracy of this announcement.
Shareholders and/or investors are advised to exercise caution when dealing in the Company�s securities.
Joint Venture
This announcement is made by Hong Kong Television Network Limited (the Company ) at the request of The Stock Exchange of Hong Kong Limited (the Stock Exchange ).
The board of directors (the Board ) of the Company has noted today's increase in the price of the shares and the trade volume of the Company. Having made such enquiry with respect to the Company as is reasonable in the circumstances, the Board confirms that it is not aware of any reasons for these price and/or volume movements or of any information which must be announced to avoid a false market in the Company's securities or of any inside information that needs to be disclosed under Part XIVA of the Securities and Futures Ordinance.
However, it is noted that in line with the Company's overall business development strategy, the Company has recently entered into content distribution arrangements with third parties for the distribution of its Cantonese dramas and infotainment and variety programmes. In addition, the Company is in the process of introducing different applications for users to stream its programmes on various devices. The Company will continue to explore different options to develop its multimedia production and distribution and other multimedia related business including the development of its TV shopping and Internet online shopping platforms.
This announcement is made by the order of the Company. The Board collectively and individually accepts responsibility for the accuracy of this announcement.
Shareholders and/or investors are advised to exercise caution when dealing in the Company's securities.
