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Public company info - Clear Media Ltd. , 00100.HK

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Clear Media Ltd., 00100.HK - Company Profile
Chairman Joseph TCHENG
Share Issued (share) 542,000,000
Par Currency Hong Kong Dollar
Par Value 0.1
Industry Advertising
Corporate Profile Business Summary: The Group's only major business is outdoor media sales and comprises the display of advertisements on bus shelters, unipoles and bus bodies. Performance for the year: The Group’s 2020 total revenue declined by 28.4% to RMB1,035.7 million mainly due to reduced demand for advertising space amid the outbreak of Covid-19. The Group’s earnings before interest, tax, depreciation and amortization declined by 37.7% to RMB505.3 million, mainly due to the revenue decline. Net loss increased from RMB86.9 million in 2019 to RMB246.7 million in 2020, mainly due to the revenue decline and the relatively high fixed costs. Loss per share increased from RMB0.1606 in 2019 to RMB0.4557 in 2020. Business Review Bus Shelter Advertising Business As of 31 December 2020, Clear Media operated the most extensive standardized bus shelter advertising network in Mainland China, with a total of more than 59,000 panels (end-2019: 57,000 panels) covering 24 cities. The Group’s bus shelter advertising revenue, net of value added tax, decreased by 28.4% to RMB1,035.7 million. The decline in revenue was mainly driven by the decrease in average monthly selling price of bus shelter panels during the year. The average number of bus shelter panels increased by 1.0% while yield per shelter before value added tax (“yield”) decreased to RMB21,277 (2019: RMB30,053). Key Cities For the year ended 31 December 2020, the revenue from the top three cities Beijing, Guangzhou and Shanghai decreased by 30.1% to RMB615.8 million (2019: RMB880.8 million) due to a lower yield per shelter of RMB28,328 (2019: RMB40,075). Mid-tier Cities The revenue from all mid-tier cities decreased by 26.3% to RMB473.5 million (2019: RMB642.7 million) due to a lower yield per shelter of RMB16,074 (2019: RMB22,382). Digital Panel Advertising As of 31 December 2020, the Group operated a total of 276 digital panels (end-2019: 261). Total sales generated from the digital panel advertising operation net of value added tax amounted to RMB3.7 million (2019: RMB8.5 million). Prospects: During 2020, the Group’s revenue began to decline substantially in February 2020 amid the outbreak of Covid-19 which further slowed China’s economic growth, negatively impacted customers advertising spend and reduced demand for advertising space. The Group’s total revenue bottomed in March 2020 and it had been recovering in the second quarter of 2020. The recovery in total monthly revenue continued in 3Q2020 and 4Q2020. Total revenue in 4Q2020 slightly exceeded the level in 4Q2019. In the absence of any significant recurrence of Covid-19 pandemic or adverse macro-economic development, the 2021 total revenue is expected to be materially more than that in 2020. During 2020, the capital expenditure was reduced to maintain capital liquidity amid the Covid-19 pandemic. As the pandemic was under better control, the 2021 total capital expenditure is expected to be considerably more than the 2020 level. The 2021 capital expenditure will likely be funded from the cash and cash equivalents on the balance sheet and the operating cash flows in 2021.

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